Indigo Paints Ltd · NSE:INDIGOPNTS
Indigo Paints — Q4 FY26 Earnings Presentation
30 slides from Indigo Paints's earnings presentation, May 23, 2026
Slide 1: Intimation under Regulation 30 for Investor Presentation
Date: May 23, 2026 To, To BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza, Plot No. C-1, Block G, 25th Floor, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East) Dalal Street, Mumbai- 400001 Mumbai - 400051 Scrip Code: 543258 NSE SYMBO
Slide 2: Investor Presentation (Q4 FY26 & FY26)
INDIGO Paints Ltd Investor Presentation (Q4 FY26 & FY26)
Slide 3: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of Indigo Paints Ltd (“Indigo”) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be
Slide 4: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 3 3
Slide 5: Resilient growth amid supply disruptions (Standalone Q4 FY26)
Financial KPIs Growth drivers update Resilient growth amid supply disruptions.. Standalone | Q4 FY26 Rs. 397.9 Cr 48.6% 23.0% Revenue from Operations Gross Margin % EBITDA Margin % 8.4% YoY Growth Maintaining pole position; EBITDA Rs. 91.7 Cr Q4 FY25 was 47.4% 6.8% YoY Growth 14.4% 5.6% A&P as % of
Slide 6: Modest growth amid normalizing competition & demand recovery (FY26)
Financial KPIs Growth drivers update Modest growth amid normalizing competition & demand recovery Standalone | FY26 Rs. 1,330.1 Cr 46.9% 18.5% Revenue from Operations Gross Margin % EBITDA Margin % 4.1% YoY Growth Maintaining pole position; EBITDA Rs. 246.7 Cr FY25 was 46.5% 6.5% YoY Growth 11.2% 5.
Slide 7: Quarterly EBITDA Margin Trends
Financial KPIs Growth drivers update Quarterly EBITDA Margin Trends… Indigo Paints Quarterly EBITDA% 23.4% 23.0% 22.5% 19.4% 17.2% 17.9% 17.5% 15.4% 15.6% 15.3% 14.8% 14.8% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Historically, for Indigo Paints, EBITDA Mar
Slide 8: Modest growth amid normalizing competition & demand recovery
Financial KPIs Growth drivers update Modest growth amid normalizing competition & demand recovery.. 7 Note: PAT excluding the exceptional item of Rs. 5.85 Cr in FY26
Slide 9: Financial Analysis
Financial KPIs Growth drivers update Financial Analysis 1 Resilient growth of 2 Industry leading 3 4 5 The PAT% for the quarter The A&P expense The EBITDA% for 8.4% YoY gross margin of as a % of revenue the quarter was was 14.4% compared to despite supply 48.6% in Q4 FY26; was 5.6% in Q4 23.0% vs. 2
Slide 10: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 9 9
Slide 11: Modest growth amid normalizing competition & demand recovery (Consolidated)
Financial KPIs Growth drivers update Modest growth amid normalizing competition & demand recovery.. 10 Note: 1) PAT excluding the exceptional item of Rs. 6.13 Cr in FY26
Slide 12: Maintaining pole position in terms of Gross Margin%
Financial KPIs Growth drivers update Maintaining pole position in terms of Gross Margin% Indigo Paints Paint companies' average 48.2% 48.9% 48.0% 47.3% 46.6% 46.6% 46.8% 46.8% 45.6% 45.9% 44.8% 43.7% 42.5% 42.8% 41.9% 42.2% 42.0% 41.3% 41.5% 41.7% 40.4% 41.2% 40.4% 41.3% Q1FY24 Q2FY24 Q3FY24 Q4FY24
Slide 13: Financial snapshot for last 5 years
Financial KPIs Growth drivers update Financial snapshot for last 5 years Sales (INR Cr) EBITDA (INR Cr) 1340.7 1405 1,306.1 254.8 238.1 233.5 1,073.3 906.0 181.5 136.0 FY22 FY23 FY24 FY 25 FY 26 FY22 FY23 FY24 FY25 FY26 PAT (INR Cr) RoCE (%) 22.8 20.9 152.2 18.4 19.0 148.8 142.2 17.6 115.6 84.1 FY22
Slide 14: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 13 13
Slide 15: Product category snapshot for Q4 FY26
Financial KPIs Growth drivers update Product category snapshot for Q4 FY26 YoY growth for Q4 FY26 vs. Q4 FY25 Product Value growth (%) Volume growth (%) Putty + Cement Paints 12.6% 9.5% Emulsions 10.5% 11.2% Enamels and wood coatings 7.2% 5.4% Primers + Distempers + Others 14.9% 9.6% 14
Slide 16: Product category snapshot for FY26
Financial KPIs Growth drivers update Product category snapshot for FY26 YoY growth for FY26 vs. FY25 Product Value growth (%) Volume growth (%) Putty + Cement Paints 3.9% 0.5% Emulsions 4.4% 1.9% Enamels and wood coatings 10.6% 8.5% Primers + Distempers + Others 11.1% 7.5% 15
Slide 17: Continued network expansion
Financial KPIs Growth drivers update Continued network expansion Active dealers and depots (#) # of 49 51 53 53 53 54 54 54 54 54 55 55 depots Active Tinting 8,657 9,114 9,510 9,842 10,210 10,555 10,772 11,000 11,301 11,656 11,913 12,217 m/c 19,352 19,134 18,914 18,718 18,598 18,556 18,500 18,371 18
Slide 18: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 17 17
Slide 19: Future growth drivers – Indigo Paints 2.0 Strategy
Financial Growth KPIs update drivers Future growth drivers – Indigo Paints 2.0 Strategy V. Expansion into adjacencies • Expand into non decorative IV. Brand segment. Foray into & marketing focus adjacencies like construction chemicals & waterproofing. III. Capacity • Ramp up salesforce • Tapping hig
Slide 20: Geographical Expansion | Deepening our Network
Financial Growth KPIs update drivers Geographical Expansion | Deepening our Network 6 Manufacturing plants 28 States 55 Depots 19,352 Active dealers 12,217 Tinting machines Fortifying our presence in Tier 3,4 cities and fast growing in Tier 1,2 cities 19
Slide 21: Capacity Augmentation | Expansion Progress
Financial Growth KPIs update drivers Capacity Augmentation | Expansion Progress Jodhpur Upcoming Plant at Jodhpur • Final commissioning and testing of equipment in progress at the water based plant (90,000 KLPA capacity) with trial production Existing expected in Jun’26 Plants Upcoming • Production
Slide 22: Marketing Focus | Enhancing Digital Outreach & New Advertisements
Financial Growth KPIs update drivers Marketing Focus | Enhancing Digital Outreach & New Advertisements 21
Slide 23: Marketing Focus | Expanding Indigo Colour Canvas Stores
Financial Growth KPIs update drivers Marketing Focus | expanding Indigo Colour Canvas Stores • 16 Colour Canvas Stores operational across the country 22
Slide 24: Apple Chemie | Robust Growth, Expanding Margins, Strengthening Fundamentals
Financial Growth KPIs update drivers Apple Chemie | Robust Growth, Expanding Margins, Strengthening Fundamentals.. • WPCC products for retail channel launched and marketed under Indigo brand (Protect Plus Series) while Apple Chemie continues to target the B2B, fast growing infrastructure segment. Re
Slide 25: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 24 24
Slide 26: ESG Updates
ESG Updates Transitioning to renewable Community energy Service - Power generation commenced from 330 kW -Unique initiative involving Painters in solar panels at Kochi Factory “Community service” to undertake painting of Government schools in Tier 2/3 towns. Over 230 schools painted through this ser
Slide 27: CSR
CSR Health benefit program Education of Healthcare for the SkillUp Program for the Painter underprivileged girls underprivileged Community Education assistance & Continuing to provide Extended the health benefit A new initiative to empower career guidance healthcare for the program to painter commun
Slide 28: Contents
Contents ▪ Financial Update - Standalone (Q4 FY26 & FY26) - Consolidated (Q4 FY26 & FY26) ▪ KPI ▪ Growth Drivers ▪ Sustainability initiatives ▪ Outlook 27 27
Slide 29: Outlook
Outlook 1 2 3 4 5 . Achieving Key raw material Embarking on an Jodhpur water-based Apple Chemie double-digit gross prices rose 50– aggressive growth plant (90,000 KLPA) revenue growth for 100% in Mar’26 path that may trial production - Sealant plant at the past five due to the Middle moderately affe
Slide 30: Thank You
a INDIGO Be surprised! Thank You 29