Indigo Paints Limited announced the approval of its Unaudited Consolidated and Standalone Financial Results for the quarter and nine months ended December 31, 2025. The company highlighted strong growth, with consolidated revenue increasing by 4.7% year-over-year for the quarter. A key operational item noted was the presentation of past service costs related to the New Labour Codes as an ‘Exceptional Item’ across both standalone and consolidated results.
Board Meeting Outcome and Results Approval
The Board of Directors of Indigo Paints Limited convened on Friday, February 13, 2026, and approved the Unaudited Consolidated and Standalone Financial Results for the period ending December 31, 2025. The meeting commenced at 2:47 p.m. (IST) and concluded at 4:33 p.m. (IST).
Standalone Quarterly Performance Highlights (Q3 FY26 vs. Q3 FY25)
The company reported a standalone Net Revenue from Operations increase of 3.5%, reaching Rs 338.9 crores. Profitability metrics saw stronger expansion:
- EBIDTA (excluding other income): Increased by 14.5% to Rs. 65.6 crores.
- Net Profit: Grew by 11.2% to Rs. 40.5* crores (Note: Adjusted figures are detailed below).
- Gross Margin: Maintained at an industry-leading 47.1%.
- EBITDA Margin: Expanded from 17.5% in Q3 FY25 to 19.4% in Q3 FY26.
- PAT Margin: Stood at 11.8%.
Consolidated Quarterly Performance Highlights (Q3 FY26 vs. Q3 FY25)
On a consolidated basis, growth was robust, largely supported by the subsidiary, Apple Chemie Pvt Ltd, which recorded a 31.5% growth:
- Net Revenue from Operations: Increased by 4.7% to Rs. 358.8 crores.
- EBIDTA (excluding other income): Increased by 19.5% to Rs. 68.3 crores.
- Net Profit: Grew by 16.4% to Rs. 41.7 crores.
Nine Months Ended December 31, 2025 Performance
Standalone Nine Months
- Net Revenue from Operations: Increased by 2.4% to Rs 932.2 crores.
- EBIDTA (excluding other income): Increased by 6.4% to Rs. 155.0 crores.
- Net Profit: Increased by 6.2% to Rs. 92.4* crores.
- Margins: EBITDA margin stood at 16.6%, and PAT margin at 9.8%.
Consolidated Nine Months
- Net Revenue from Operations: Increased by 2.8% to Rs 979.9 crores.
- EBIDTA (excluding other income): Increased by 9.0% to Rs. 159.2 crores.
- Net Profit: Increased by 9.8% to Rs. 93.0 crores.
- Margins: EBITDA margin stood at 16.2%, and PAT margin at 9.4%.
Exceptional Item Disclosure
The financial results for the quarter and nine months ended December 31, 2025, include an exceptional item. This item accounts for the one-time expense arising from increases in the gratuity liability due to the implementation of the New Labour Codes. For Q3 FY26, the standalone PAT including this item was Rs. 36.16 Cr, versus an adjusted PAT of Rs. 40.5 Cr (excluding the item).
Financial Position Snapshot (Consolidated)
Reviewing the Statement of Unaudited Consolidated Financial Results, the Net Profit attributable to Equity Holders for the quarter was Rs. 3,637.73 Lakhs. Earnings Per Share (Basic) for the quarter ended December 31, 2025, was Rs. 7.63 (not annualised).
Segment Reporting
As per Ind AS 108 – Segment Reporting, the Group operates as a single reportable operating segment, reflecting the interlinked nature of manufacturing and selling paints and allied products.
Source: BSE
