Indigo Paints Limited — PPTs, 06-11-2025: Investor Presentation

Indigo Paints delivered a strong Q2 FY26, with revenue up 3.5% YoY to Rs. 298.5 Cr. Half-year revenue also grew 1.9% to Rs. 593.4 Cr. Profit (PAT) increased 5.8% to Rs. 25.5 Cr in Q2, while EBITDA rose 7.5% to Rs. 45.8 Cr, achieving a 15.3% margin. Strong gross margins of 45.1% were maintained, thanks to a favorable product mix, especially in premium emulsions and enamels. Primers, Distempers, and overall Emulsions segments showed good growth.

The company is accelerating its 'Indigo Paints 2.0 Strategy' focusing on product innovation, expanding network into Tier 1 & 2 cities (now 11,656 dealers), and boosting manufacturing capacity. New water-based, solvent-based, and putty plants are set to commission by Q4 FY26, Dec'25, and mid-Nov'25, respectively. Subsidiary Apple Chemie saw Q2 revenue surge to Rs. 27.6 Cr, indicating strong traction in construction chemicals. Management foresees continued demand recovery post-Diwali and improved FY26 EBITDA margins due to stable raw material prices and an optimized product mix, alongside a strategic shift to targeted BTL marketing.