Berger Paints (I) Limited (BERGEPAINT)

Consumer Durables · Consumer Durables · NSE · Updated 15 July 2026

₹489.1 ↓ 12.85% (1Y)

🎯 Key Takeaways

Berger Paints (I) Limited is navigating a turnaround phase marked by margin recovery and profitability improvement after a period of pressure, with recent quarters showing strong profit growth outpacing revenue gains. Management is focused on rural market recovery, new product launches, and operational efficiency to drive double-digit growth in FY27, positioning the company for a structural rebound in the consumer durables space.
Revenue grew 7.2% QoQ to ₹2,975 in Q3FY25.
⚠️ Overreliance on rural market recovery, which remains subject to agricultural income and monsoon-dependent demand.

Market Cap

₹62,200

P/E Ratio

54.5

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Berger Paints (I) Limited is navigating a turnaround phase marked by margin recovery and profitability improvement after a period of pressure, with recent quarters showing strong profit growth outpacing revenue gains. Management is focused on rural market recovery, new product launches, and operational efficiency to drive double-digit growth in FY27, positioning the company for a structural rebound in the consumer durables space.

📰 What's Happening

In Q4 FY26, net profit surged 69.9% YoY to ₹120.5 crores while revenue grew 5.2% YoY to ₹1,250 crores, reflecting improved operational leverage. Operating margin expanded to 12.8%, up from 13.9% in Q4 FY24, indicating cost discipline and margin recovery. Management attributes this momentum to rural recovery and new product launches, with expectations of double-digit revenue growth and further margin expansion in FY27. An audio recording of the Q4 FY26 investor presentation is publicly available, offering stakeholders direct access to management’s commentary on performance and outlook.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	2,444	3,030	2,767	2,882	2,520	3,091	2,775	2,975
Operating Profit	384	570	493	500	367	559	455	492
OPM %	15.1%	18.4%	17.1%	16.7%	13.9%	16.9%	15.7%	15.9%
Net Profit	186	355	292	300	223	354	270	296
EPS	₹1.91	₹3.65	₹2.50	₹2.57	₹1.91	₹3.03	₹2.31	₹2.53

The company has demonstrated a clear inflection in profitability, with net profit rising sharply in Q4 FY26 despite only modest revenue growth, signaling strong margin recovery. This trend aligns with management’s stated focus on operational efficiency and rural market revival, which they expect to drive sustainable growth in FY27. The improvement in operating margin to 12.8% from 13.9% in the prior year quarter underscores progress in cost management and pricing discipline.

🔮 Management Outlook & What's Next

Management expects double-digit revenue growth and margin expansion in FY27, driven by rural market recovery and new product launches. This forward guidance was reiterated during the Q4 FY26 investor presentation, where management highlighted the positive trajectory of the rural segment and the contribution of innovation to future growth. No formal updated guidance was issued beyond this narrative in the available filings.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Consumer Durables

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Titan Company Limited	3.70 L Cr	77.6	34.3%	41.0%	0.88
Asian Paints Limited	2.50 L Cr	65.0	26.0%	19.8%	0.04
LG Electronics India Limited	1.07 L Cr	—	—	—	—
Havells India Limited	75,873	54.2	—	—	—
Dixon Technologies (India) Limited	66,754	75.9	—	—	—
Berger Paints (I) Limited	62,200	54.5	—	—	—
Voltas Limited	40,722	56.8	—	—	—
Kalyan Jewellers India Limited	36,461	54.6	—	—	—
Blue Star Limited	34,091	61.2	—	—	—
Amber Enterprises India Limited	29,854	164.3	8.4%	4.1%	0.62

🔗 Peer Stock Analyses

TITAN ASIANPAINT LGEINDIA HAVELLS DIXON

⚠️ Risk Factors

1. Overreliance on rural market recovery, which remains subject to agricultural income and monsoon-dependent demand. 2. Margin expansion may be challenged by input cost volatility or pricing pressures in a competitive consumer durables market. 3. Execution risk around new product launches and their market acceptance in a crowded paint segment. 4. Regulatory and tax changes affecting dividend distribution or capital allocation priorities.

📋 Recent Filings

🧠 Analyst's Read

Berger Paints is showing signs of a meaningful turnaround, with profitability improving faster than revenue growth, supported by management’s strategic focus on rural demand and operational efficiency. The key watchpoints ahead are the sustainability of margin expansion and the pace of rural recovery, which will determine whether the current momentum can be sustained into FY27.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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