Indigo Paints has announced its Q1 FY27 financial results, showcasing robust performance with a 18.7% year-on-year increase in standalone revenue to INR350 crore. This growth was driven by double-digit volume expansion across all product categories, outperforming the broader paint sector. The company also reported a healthy EBITDA growth of 42%, reaching INR61.9 crore.
Indigo Paints Reports Strong Q1 FY27 Performance
Indigo Paints has announced its financial results for the first quarter of FY27, reporting a standalone revenue from operations of INR350 crore, an 18.7% increase compared to INR295 crore in the corresponding period last year. The company highlighted that this growth places it comfortably ahead of the paint sector and was accompanied by double-digit expansion in volumes across all four product categories.
Key Financial Highlights
The company’s gross margin stood at 45.3% for the quarter. EBITDA for the quarter was INR61.9 crore, a growth of 42% over the previous year, leading to an improved EBITDA margin of 17.7% compared to 14.8% in Q1 of last year. Profit After Tax (PAT) grew by 60.7% to INR42.4 crore, with the PAT margin increasing to 11.8% from 8.8%.
Consolidated Performance and Product Mix
On a consolidated basis, which includes its subsidiary Apple Chemie, Indigo Paints reported revenue of INR369.7 crore, a 19.7% year-on-year growth. EBITDA and PAT also saw significant increases, growing by 40% and 60% respectively. The company noted that every product category recorded growth in both volume and value, with primers and distempers leading with nearly 30% value growth.
Distribution Network Expansion
Indigo Paints expanded its distribution footprint, closing the quarter with approximately 19,400 active dealers and around 12,400 active tinting machines. The dealer count rose by about 800 in the last year, while the tinting machine count increased by 1,100, reflecting a strengthening of dealer relationships.
Subsidiary Performance and Future Outlook
The subsidiary, Apple Chemie, recorded a revenue of INR19.7 crore for the quarter, a growth of over 40%. The company also mentioned that its water-based plant at Jodhpur is in the final stages of commissioning and expected to start trial production in the second half of August. Indigo Paints anticipates incremental revenue to translate into free cash flows at a considerably better rate going forward, with no significant capex requirements anticipated for the next three years.
Source: BSE
