Indigo Paints Ltd.
Snapshot View

1642.50 -54.05 ▼-3.2%

24 May 2022, 04:01:00 PM
Volume: 3,425

Overview View Details

Sector Chemicals Compare with Sector peers
Industry Paints Compare with Industry peers
Website http://www.indigopaints.com
Market Cap 7,849.12 Cr.
Enterprise Value(EV) 7,713.59 Cr. 2022-03
Financial Indicators
Earnings per share (EPS) 17.67 Trailing Twelve Months Ending 2022-03
Price-Earning Ratio (PE) 93.39 Trailing Twelve Months Ending 2022-03
Industry PE 87.87 Trailing Twelve Months Ending 2022-03
Book Value / Share 136.61 Trailing Twelve Months Ending 2022-03
Price to Book Value 12.08 Calculated using Price: 1,650.05
Dividend Yield 0.18 Period Ending 2021-03
No. of Shares Subscribed 4.76 Cr. 47,568,997 Shares
FaceValue 10
Company Profile

Indigo Paints was originally incorporated as ‘Indigo Paints Private Limited’ at Pune, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated March 28, 2000 issued by the Registrar of Companies, Maharashtra at Pune. Subsequently, the company was converted into a public limited company and consequently the name of the company was changed to ‘Indigo Paints Limited’ and a fresh certificate of incorporation dated August 20, 2020 was issued by the Registrar of Companies, Maharashtra at Pune.

Indigo Paints is the fastest growing amongst the top five paint companies in India. It is the fifth largest company in the Indian decorative paint industry in terms of its revenue from operations for Fiscal 2020. It has achieved this position in a highly competitive Indian decorative paint industry on the back of its multi-pronged approach. This includes introducing differentiated products to create a distinct market in the paint industry, building brand equity for its primary consumer brand of ‘Indigo’, creating an extensive distribution network across 27 states and seven union territories as of September 30, 2020, and installing tinting machines across its network of dealers. To create demand for its differentiated products, it initially tapped into Tier 3, Tier 4 Cities, and Rural Areas, where brand penetration is easier and dealers have greater ability to influence customer purchase decisions.

The company subsequently leveraged this network to engage with dealers in Tier 1 and Tier 2 Cities and Metros as well. It engaged Mr. Mahendra Singh Dhoni, a sportsperson with pan-India appeal, as its brand ambassador, to enhance its brand image amongst end customers. The company concentrated these branding efforts on its differentiated products and then leveraged these efforts to increase distribution and sale of its complete range of decorative paint products. It subsequently introduced tinting machines in its target markets to increase sales of emulsion paints, which require in-shop tinting.

Business area of the company

The company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. It also identify potential product needs from customers and introduce differentiated products to meet these requirements, and create a distinct market for its products. For instance, it is the first company to manufacture and introduce certain differentiated products in the decorative paint market in India, which includes its Metallic Emulsions, Tile Coat Emulsions, Bright Ceiling Coat Emulsions, Floor Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel (together, Indigo Differentiated Products). These products are differentiated based on the end-use they cater to, as well as added properties that they possess.

Awards and Accreditations

  • 2019: The company’s quality management systems with respect to its manufacturing facilities at Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu) have been certified to conform to EN ISO 9001:2015 pursuant to a certificate dated September 16, 2019, subject to annual audits conducted by independent consultants.
  • 2019: Each of its manufacturing facilities at Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu), has been certified to conform to EN ISO 14001:2015 pursuant to a certificate dated September 16, 2019, for its environment management systems, subject to annual audits conducted by independent consultants.
  • 2019: Each of its manufacturing facilities at Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu), has been certified to conform to ISO 45001:2018 for its occupational health & safety management systems pursuant to a certificate dated September 16, 2019, subject to annual audits conducted by independent consultants.

Major events and milestones

  • 2000: Incorporation of the company
  • 2001: The company began manufacturing of cement paints in Jharkhand and later shifted to Jodhpur, Rajasthan
  • 2007: The company moved to its own factory space in Jodhpur, Rajasthan
  • 2007: The company had by now broadened its product portfolio to include water-based paints
  • 2010: The company had expanded its geographical footprint to 11 states in India by now
  • 2011: The company implemented SAP
  • 2013: The company carried out a rebranding exercise and created its new logo and packaging design
  • 2013: The company began advertising in newspapers and hoardings
  • 2015: Sequoia IV invested approximately Rs 300 million in the company
  • 2016: SCII V invested approximately Rs 900 million by in the company
  • 2016: The company acquired Hi-Build Coatings Private Limited; a Kerala based paint company
  • 2016: Sequoia IV invested approximately Rs 200 million in the company
  • 2018: The company intensified television advertising
  • 2018: The company expanded its geographical footprint to other states
  • 2019: The company appointed Mahendra Singh Dhoni, as its brand ambassador
  • 2019: The company introduced a new model of tinting machines across India
  • 2019: The company engaged in BTL activities like painter meets, dealer boards and in-shop branding, and also intensified dealer loyalty programmes

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
-3.19%
1 Week
+7.85%
1 Month
+5.48%
3 Month
-8.70%
6 Month
-27.43%
1 Year
-35.75%
2 Year
5 Year
10 Year
9 years 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03 2021-03
Return on Equity (%) 14.94 8.33 -44.39 -7.69 -14.02 2.61 23.67 31.42 19.14
Return on Capital Employed (%) 16.81 13.00 -24.93 -6.73 -10.40 4.00 21.22 32.12 25.10
Return on Assets (%) 2.52 1.17 -14.48 -4.68 -7.18 0.98 8.24 12.03 11.49

Balance Sheet View Details

Particulars 5 years 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03* Rs. Cr.
Shh. Funds 118 147 197 563 650
Non Curr. Liab. 11 38 40 19 26
Curr. Liab. 150 188 185 228 244
Minority Int.
Equity & Liab. 279 373 422 811 920
Non Curr. Assets 103 163 211 269 348
Curr. Assets 177 210 211 542 572
Misc. Exp. not W/O
Total Assets 279 373 422 811 920

Profit Loss View Details

Particulars 5 years 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03 Rs. Cr. TTM
Net Sales 411 536 625 723 906
Other Income 0 2 2 4 11
Total Income 412 537 626 727 917
Total Expenditure -387 -482 -534 -601 -770
PBIDT 24 56 93 126 147
Interest -4 -5 -6 -4 -1
Depreciation -17 -17 -20 -24 -31
Taxation 0 -7 -20 -27 -30
Exceptional Items -1 0
PAT 3 27 48 71 84
Adjusted EPS 1 9 16 15 18

Cash Flow View Details

Particulars 4 years 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr.
Cash Fr. Operatn. 27 52 72 121
Cash Fr. Inv. -23 -63 -61 -318
Cash Fr. Finan. -7 19 -17 236
Net Change -3 7 -6 39
Cash & Cash Eqvt 5 12 6 45

Shareholding Pattern View Details

9 Qtrs 2017-09 (%) 2018-09 (%) 2019-09 (%) 2020-07 (%) 2021-03 (%) 2021-06 (%) 2021-09 (%) 2021-12 (%) 2022-03 (%)
Promoter 95.67 95.67 94.82 94.26 54.00 54.00 54.00 54.00 54.00
Public 4.33 4.33 5.18 5.74 46.00 46.00 46.00 46.00 46.00
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Announcements View Details

Tue, 24 May 2022
Reporting To Stock Exchanges Regarding Violations Under Securities And Exchange Board Of India (Prohibition Of Insider Trading) Regulations 2015 Relating To The Code Of Conduct
This is to inform you that pursuant to SEBI (Prohibition of Insider Trading) Regulations 2015 and Companys Code of Conduct for Prevention of Insider Trading (Code of Conduct) please find enclosed report in Annexure A on violation under Schedule B read with Regulation 9 (1) of SEBI (Prohibition of Insider Trading) Regulations 2015.The matter will be placed before the Audit Committee and the decision of the Audit Committee and action taken by the Company against the said violation shall be intimated separately to the Stock Exchanges.Kindly take the same on record
Mon, 23 May 2022
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to Regulation 30 read with Part A of Schedule Ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 please note that the Audio Link for the Quarter & Financial Year ended March 31 2022 earnings call of the Company conducted through digital means on May 23 2022 at 11:00 Hours (I.S.T) is available on the website of the Company under the following link:https://drive.google.com/drive/folders/lvgnXXni3BPuwTkO5cU9 9 bhfQremQ@Q4LG?usp=sharing
Sat, 21 May 2022
Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulation 47 read with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended please find enclosed copies of the newspaper advertisement pertaining to financial results of the Company for the quarter and Financial Year ended March 31 2022. The advertisements were publishedin the following Newspapers:1. Financial Express in English;2. Loksatta in MarathiThis will also be hosted on Companys website at www.indigopaints.com/investorsYou are requested to take note of the same.

Technical Scans View Details

Tue, 24 May 2022
Higher Delivery Quantity Higher Delivery Quantity
High Increase 1 Month High Increase 1 Month
High Decrease 6 Months High Decrease 6 Months
High Decrease 1 Year High Decrease 1 Year
William %R Bearish William %R Bearish

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