Indigo Paints Limited announced the approval of its Unaudited Consolidated and Standalone Financial Results for the quarter and nine months ended December 31, 2025, following a Board meeting on February 13, 2026. Key highlights include consolidated revenue growth of 4.7% YoY for the quarter and a 16.4% jump in Net Profit. The results reflect robust performance despite recent regulatory changes impacting gratuity liability, presented as an exceptional item.
Board Concludes Review of FY26 Results
The Board of Directors of Indigo Paints Limited formally approved the Unaudited Consolidated and Standalone Financial Results for the third quarter and the nine months ended December 31, 2025. The Board meeting took place on Friday, February 13, 2026, commencing at 2:47 p.m. (IST) and concluding at 4:33 p.m. (IST).
Consolidated Quarterly Performance (Q3 FY26 vs Q3 FY25)
The company demonstrated strong operational momentum across key metrics for the quarter ended December 31, 2025:
- Net Revenue from Operations increased by 4.7% to Rs 358.8 crores (compared to Rs 342.6 crores previously).
- EBIDTA (excluding other income) saw a significant expansion, rising 19.5% to Rs 68.3 crores.
- Net Profit for the period grew by 16.4%, reaching Rs 41.7 crores (compared to Rs 35.8 crores).
The consolidated results reflect strong performance, bolstered by a 31.5% growth recorded by the subsidiary, Apple Chemie Pvt Ltd.
Standalone Quarterly Performance (Q3 FY26 vs Q3 FY25)
On a standalone basis, Indigo Paints reported:
- Net Revenue from Operations growth of 3.5%, resulting in Rs 338.9 crores.
- EBIDTA expansion of 14.5%, totaling Rs 65.6 crores.
- Net Profit growth of 11.2%, standing at Rs 40.5* crores.
The company maintained its industry-leading Gross Margin at 47.1%, with the EBITDA Margin expanding from 17.5% in Q3 FY25 to 19.4% in Q3 FY26.
Nine Months Performance (9M FY26 vs 9M FY25)
For the cumulative nine months ended December 31, 2025, the consolidated revenue grew by 2.8% to Rs 979.9 crores, while Net Profit saw an increase of 9.8%, reaching Rs 93.0 crores.
Note on Exceptional Items
Both standalone and consolidated results incorporate an exceptional item related to an increase in gratuity liability due to the implementation of the New Labour Codes effective November 21, 2025. The incremental impact on consolidated results was INR 613.31 lakhs. The PAT figures reported for the quarter have been adjusted to reflect this one-time accounting impact.
Auditor Confirmation
The financial statements were subjected to a Limited Review by the Statutory Auditors, Price Waterhouse Chartered Accountants LLP. They issued an unmodified conclusion on the results, confirming adherence to Ind AS 34 principles.
Source: BSE
