Berger Paints India Limited · NSE:BERGEPAINT
Berger Paints India — J.P. Morgan India Virtual Group Investor Fireside Chat 2025
26 slides from Berger Paints India's conference presentation, Jun 6, 2025
Slide 1: Exchange filing cover letter for investor presentation
♦ Berger 6 th June, 2025 STOCK. EXG/ AG/ 2025-26 The Corporate Relationship The Listing Department Listing Department Department National Stock Exchange of The Calcutta Stock BSE Limited, India Limited Exchange Ltd. 1st Floor, Exchange Plaza, 5th Floor, 7 Lyons Range, Phiroze Jeejeebhoy Towers, Plot
Slide 2: JP Morgan Conference 2025 Investor Conference
JP Morgan Conference 2025 Investor Conference Abhijit Roy MD & CEO Berger Paints India Limited
Slide 3: Berger India Group - Corporate Profile
Berger India Group- Corporate Profile • Berger Paints India Ltd. (BPIL) started operations in India in December 1923 • Second-largest paint company in India with operations in Poland, Nepal, and Russia Annual revenue of approximately USD 1.4 billion • 7th Largest decorative paint globally Fourth lar
Slide 4: Present Across All the Business Lines
Present Across All the Business Lines Decorative Protective & Auto Paints General Powder Paints Infrastructure Industrial Coating coatings Present in 2 wheelers, CV and Dominant Player tractors For white goods 2nd largest player Business leader in along with and consumer in India India In JV with su
Slide 5: Straddling Segments
Straddling Segments Protective Coatings & General Industrial - Market leader for decades Decorative Coatings – Strong No. 2 Automotive Paints – No.2 with BNPA Construction Chemicals – Fast growing No. 3 with STP
Slide 6: Presence across borders
Presence across borders India – Presence across segments; Leadership in some; Strong no. 2 in others Nepal – Strong No. 2 with sizeable and long-standing presence in decorative business Russia – Niche business in decorative paints Poland – Dominant in ETICS space through acquisition of Bolix SA UK –
Slide 7: Manufacturing Locations
Manufacturing Locations ❑ Present capacity – 1.30 mln MT Jammu ❑ Sandila plant is fully operational now Sandila Surajpur Nalbari ❑ Brown field expansions were carried out Sikandrabad Naltali at some of the manufacturing units VVN Howrah Rishra ❑ Work progressing at Panagarh, West Panagarh Pune Benga
Slide 8: Rewarding Shareholders consistently: Dividend trajectory (%)
Rewarding Shareholders consistently : Dividend trajectory (%) 380 350 310 320 280 220 180 190 165 175 125 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Slide 9: BPIL: Standalone Net Operating Revenues
BPIL: Standalone Net Operating Revenues Rs Crores 10003 10169 9471 7741 6021 FY21 FY22 FY23 FY24 FY25
Slide 10: Consistently gaining Market Share
Consistently gaining Market Share 20.3 19.5 19.3 18.9 FY 22 FY 23 FY 24 FY 25 ❑ Market share at 20%, based on results declared by listed major paint companies
Slide 11: BPIL: Consolidated Net Operating Revenues
BPIL: Consolidated Net Operating Revenues Rs Crores 11199 11545 10568 8762 6818 FY21 FY22 FY23 FY24 FY25
Slide 12: BPIL: Standalone Operating Profit
BPIL : Standalone Operating Profit Rs Crores 1672 1674 1346 1183 1097 FY21 FY22 FY23 FY24 FY25
Slide 13: BPIL: Consolidated Operating Profit
BPIL : Consolidated Operating Profit Rs Crores 1861 1856 1487 1331 1188 FY21 FY22 FY23 FY24 FY25
Slide 14: Gross Margin Trend QOQ % (SA)
Gross Margin Trend QOQ % (SA) 41.2 39.6 39.4 40.0 40.3 40.3 39.3 40.4 39.7 35.3 34.5 33.8 12 Quarter highest GM Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1FY25 Q2 FY25 Q3 FY25 Q4 FY25
Slide 15: Operating Margin Trend QOQ % (SA)
Operating Margin Trend QOQ % (SA) 18.8 Operating margins 17.2 remained consistently 16.5 16.7 16.6 15.6 15.8 16.2 within the upper end of 15.0 14.5 the guided range on a 13.4 12.9 QoQ basis Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1FY25 Q2 FY25 Q3 FY25 Q4 FY25
Slide 16: Driving Consistent Growth: 2/3/4/5 Year CAGR in Revenues & Operating Profit
CONSOLIDATED CAGR PBDIT/INCOME FROM OPERATIONS Driving Consistent Growth: 2/3/4/5 Year CAGR in Revenues & Operating Profit The drop in two-year 14.1 CAGR in income from 12.6 operations is attributable 11.7 11.7 11.8 11.8 to consecutive price 9.6 reductions, including a 4.6% decrease in FY24. 4.5 2 Y
Slide 17: Net Cash FY25 (Consolidated)
NET CASH FY 25 (Consolidated) Healthy balance sheet: rising cash surplus and improving net debt profile 688.6 331.8 FY 23 FY 24 FY 25 -444.1
Slide 18: Q4 FY25 Performance - Standalone
Q4 FY25 Performance - Standalone Q4 FY 25 Growth % •Decorative segment delivered high single- 19.8 digit volume growth, aided by better mix and marginal pricing impact •Construction chemicals and waterproofing continued strong performance across key markets 7.7 4.4 •Protective coatings maintained st
Slide 19: Q4 FY25 Performance - Consolidated
Q4 FY25 Performance – Consolidated Q4 FY 25 Growth % •Bolix delivered strong topline and profitability with 21.9 constant currency growth •BJN Nepal demonstrated strong recovery across revenue and profitability, rebounding from previously weaker quarters •STP had improved operating performance aided
Slide 20: Innovative Products: Kool Range
Innovative Products Kool Range • Roof Kool & Seal • Tank Kool • Weather Coat Anti-Dustt Kool
Slide 21: Berger
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Slide 22: FY25 sustainability metrics: renewable energy, carbon, water
5.2% increase in electricity consumption from renewable sources of energy in FY25 Carbon footprint reduced by 7.5% compared to FY24 8.8% reduction in fuel consumption from non-renewable energy sources in FY25 Total water withdrawal reduced by 7.5%, and water consumption reduced by 3.8% in FY25
Slide 23: What does the future hold?
What does the future hold?
Slide 24: Experiment: Our Mega Model
OUR MEGA MODEL • Fundamental • Experiment to • Scale up of MAINTAIN GROW EXPERIMENT activities create new successful • Network scalable experiments • Applicators opportunities • Distributor • Customers • Urban • Stores • CC
Slide 25: Protective and Industrial Coatings
Protecton and Industrial Coatings ▪ Berger is a leading player in India's protective coatings segment, well-positioned to benefit from increased demand in industrial and infrastructure sectors ▪ Government capex has been front-loaded in the current fiscal, with infrastructure spending up 60% YoY in
Slide 26: Thank You
THANK YOU
Berger Paints India — J.P. Morgan India Virtual Group Investor Fireside Chat 2025 on 6ix