Indigo Paints Ltd (INDIGOPNTS) — Announcement | 3 September 2026

Indigo Paints reported robust Q1 FY27 growth with standalone revenue up 18.7% YoY to INR 350 crores and consolidated revenue up 19.7% to INR 369.7 crores, driven by double-digit volume expansion across categories and strong margin performance (EBITDA 17.7%, PAT 11.8%). PAT grew 60.7% YoY, supported by a 19,400-dealer network and strategic brand investments. While subsidiary Apple Chemie faced temporary margin pressure from input cost volatility, the company confirmed its Jodhpur water-based plant is nearing commissioning in August 2026. Management emphasized aggressive top-line growth ambitions, targeting significant gaps over industry growth rates, and plans to reinvest paused IPL advertising funds once raw material stability returns. Capex is complete with no major investments expected for three years, though margin guidance for Q2 remains uncertain due to seasonal mix pressures and volatile input costs.