Indigo Paints Ltd (NSE:INDIGOPNTS)

Q3 2026 Indigo Paints Ltd Earnings Call Transcript

Feb 15, 2026 / 05:30 AM GMT

Release Date Price: ₹987.4 (+1.47%)

Transcript

Key Points

Positve

Indigo Paints Ltd (BOM:543258) reported impressive double-digit growth in November and December, offsetting early quarter challenges.
The company's EBITA and PAT numbers grew at a faster pace than revenue, driven by a favorable product mix and cost management.
Standalone revenue from operations for Q3 FY26 was INR 338.9 crores, a year-on-year growth of 3.5%, with improved EBITA margins.
The subsidiary, Applechemi, delivered strong growth with a 31.5% increase in Q3 revenues and improved gross margins.
Indigo Paints Ltd (BOM:543258) is expanding its dealer network and increasing the number of tinting machines, enhancing market presence.

Negative

The company faced a temporary setback in October due to delayed monsoons and an early Diwali, compressing the sales window.
A one-time expense of INR 5.85 crores impacted the PAT due to provisions for gratuity under the draft labor code.
The emulsion category showed modest value growth and a slight volume dip, indicating challenges in this segment.
Despite capacity expansions, the company acknowledges potential impacts on PAT due to increased depreciation.
The active dealer count showed stagnation, highlighting the need for increased throughput per dealer rather than just expanding the network.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INDG.NS - Indigo Paints Ltd
Q3 2026 Indigo Paints Ltd Earnings Call
Feb 16, 2026 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Indigo Paints Q3 FY26 earnings conference call hosted by ICIC Securities Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing 0 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anirud Joshi from ICIC Securities Limited.

Thank you and over to you, sir.

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Unidentified_2 [2]
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