
Consumer Durables
Valuation | |
|---|---|
| Market Cap | 53.81 kCr |
| Price/Earnings (Trailing) | 50.99 |
| Price/Sales (Trailing) | 4.55 |
| EV/EBITDA | 30.3 |
| Price/Free Cashflow | 74.01 |
| MarketCap/EBT | 39.86 |
| Enterprise Value | 54.28 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 11.82 kCr |
| Rev. Growth (Yr) | 0.60% |
| Earnings (TTM) | 1.06 kCr |
| Earnings Growth (Yr) | -8.3% |
Profitability | |
|---|---|
| Operating Margin | 12% |
| EBT Margin | 11% |
| Return on Equity | 16.78% |
| Return on Assets | 11.16% |
| Free Cashflow Yield | 1.35% |
Growth & Returns | |
|---|---|
| Price Change 1W | -2.3% |
| Price Change 1M | -11.4% |
| Price Change 6M | -13.5% |
| Price Change 1Y | -4.8% |
| 3Y Cumulative Return | -0.30% |
| 5Y Cumulative Return | -6.4% |
| 7Y Cumulative Return | 9.2% |
| 10Y Cumulative Return | 12.2% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -649.88 Cr |
| Cash Flow from Operations (TTM) | 1.27 kCr |
| Cash Flow from Financing (TTM) | -605.54 Cr |
| Cash & Equivalents | 229.91 Cr |
| Free Cash Flow (TTM) | 839.61 Cr |
| Free Cash Flow/Share (TTM) | 7.2 |
Balance Sheet | |
|---|---|
| Total Assets | 9.46 kCr |
| Total Liabilities | 3.16 kCr |
| Shareholder Equity | 6.29 kCr |
| Current Assets | 5.07 kCr |
| Current Liabilities | 2.57 kCr |
| Net PPE | 2.71 kCr |
| Inventory | 2.22 kCr |
| Goodwill | 357.91 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.07 |
| Debt/Equity | 0.11 |
| Interest Coverage | 21.11 |
| Interest/Cashflow Ops | 21.28 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 3.8 |
| Dividend Yield | 0.82% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Profitability: Recent profitability of 9% is a good sign.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: It is among the top 200 market size companies of india.
Technicals: SharesGuru indicator is Bearish.
Past Returns: Underperforming stock! In past three years, the stock has provided -0.3% return compared to 13.2% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -11.4% in last 30 days.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Profitability: Recent profitability of 9% is a good sign.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: It is among the top 200 market size companies of india.
Technicals: SharesGuru indicator is Bearish.
Past Returns: Underperforming stock! In past three years, the stock has provided -0.3% return compared to 13.2% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -11.4% in last 30 days.
Investor Care | |
|---|---|
| Dividend Yield | 0.82% |
| Dividend/Share (TTM) | 3.8 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 9.05 |
Financial Health | |
|---|---|
| Current Ratio | 1.97 |
| Debt/Equity | 0.11 |
Technical Indicators | |
|---|---|
| RSI (14d) | 18.82 |
| RSI (5d) | 0.46 |
| RSI (21d) | 27.49 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Buy |
| SharesGuru Signal | Buy |
| RSI Signal | Buy |
| RSI5 Signal | Buy |
| RSI21 Signal | Buy |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Updated May 5, 2025
Summary of Berger Paints India's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management provided an outlook emphasizing cautious optimism amid a mixed demand environment. They noted that demand conditions are gradually improving, with October's demand being negative, November slightly positive, December better, and January showing further improvement. Management aims for double-digit volume growth in the upcoming year, expecting volume growth rates of 12-13% with corresponding value growth in the range of 7-8%.
Key forward-looking points include:
Volume Growth Predictions: Management anticipates achieving double-digit volume growth, with expectations of 12-13% growth in the next financial year, which aligns with historical performance trends averaging 8% to 10.7% in recent years.
Value Growth Expectations: They foresee a continued gap between volume and value growth, estimating a 4-5% disparity as volume increases due to a stronger demand for lower-value products.
Operational Margins Guidance: Operating margins are focused on remaining within the guided range of 15-17%, reflecting a gross margin of 41.2%, which is the highest in the last 15 quarters.
Focus on Distribution and Product Innovation: Investments will focus on enhancing distribution networks, adding more color bank machines, and rolling out new products to strengthen market presence.
Market Dynamics: Management indicated elevated competitive intensity in the industry, suggesting that while the competitive landscape is stable, it remains unsettled as new players enter the market.
External Factors: They are mindful of potential challenges from geopolitical uncertainties, forex volatility, and evolving tariff dynamics that might introduce near-to-medium-term volatility in operations.
These insights underline management's strategic priorities to enhance distribution, innovate product offerings, and maintain profit margins while navigating a dynamic marketplace.
Understand Berger Paints India ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| U K Paints India Private Limited | 64.57% |
| Sbi Large & Midcap Fund | 3.82% |
| Citland Commercial Credits Limited | 3.18% |
| Wang Investment And Finance Pvt Ltd | 3.09% |
| Nalanda India Fund Limited | 2.93% |
| KSD Family Trust | 0.86% |
| Bigg Investments And Finance Private Limited |
Detailed comparison of Berger Paints India against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINT | Asian Paints | 2.31 LCr | 35.35 kCr | -16.50% | +8.20% | 60.08 | 6.54 | - | - |
| KANSAINER | Kansai Nerolac Paints | 16.37 kCr |
Comprehensive comparison against sector averages
BERGEPAINT metrics compared to Consumer
| Category | BERGEPAINT | Consumer |
|---|---|---|
| PE | 50.93 | 53.90 |
| PS | 4.55 | 1.49 |
| Growth | 3.2 % | 31.1 % |
Berger Paints India is a prominent paints company, operating under the stock ticker BERGEPAINT, with a market capitalization of Rs. 63,584.4 Crores.
The company engages in the manufacture and sale of a wide variety of paints catering to home, professional, and industrial users both in India and internationally. Their product offerings include:
Additionally, Berger Paints India provides diverse solutions such as automotive finishes, fireproof coatings, flooring compounds, and various plastering products.
The company has its roots as British Paints (India) Limited, changing its name to Berger Paints India Limited in December 1983. Founded in 1923, it is headquartered in Kolkata, India, and operates as a subsidiary of U. K. Paints India Private Limited.
Financially, Berger Paints India has demonstrated a solid performance with a trailing 12 months revenue of Rs. 11,454.5 Crores and a revenue growth of 32.3% over the past three years. The company also rewards its investors with dividends, offering a yield of 0.71% per year, with a dividend payment of Rs. 3.5 per share in the last year.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
BERGEPAINT vs Consumer (2021 - 2026)
Berger Paints India has gained 21.32% this year, showcasing strong growth.
Earnings Call Transcript • 10 Feb 2026 Please find attached transcript of Results FY26 Q3 Earnings Conference call held on 5th February, 2026. |
General • 06 Feb 2026 Please find attached letter dated 5th February, 2026. |
General • 05 Feb 2026 Please find attached letter dated 5th February, 2026. |
General • 04 Feb 2026 Please find attached letter dated 4th February, 2026 in relation with commencement of commercial production, Resin Manufacturing facility, Hindupur. |
Analyst / Investor Meet • 03 Feb 2026 Please find attached letter dated 3rd February, 2026. |
Analyst / Investor Meet • 29 Jan 2026 Please find attached letter dated 29th January, 2026. |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question 1: Mihir Shah (Nomura):
"If you strip off October from the results, how is the sales growth momentum for November and December? Could you provide insights on January's continuity?"
Answer:
Sales momentum improved in November with slight positive growth. December saw a stronger mid-single-digit growth rate, which continued into January. The value growth was around 6-7% despite some volume variations.
Question 2: Mihir Shah (Nomura):
"Any insights on the competitive landscape?"
Answer:
The competitive intensity remains stable; there's no significant increase or decrease. Month-to-month and quarterly values indicate no major shifts, with growth rates settling around 7-12%.
Question 3: Mihir Shah (Nomura):
"How do you see growth for next year, especially regarding double-digit volumes and value growth?"
Answer:
I anticipate double-digit volume growth, potentially reaching 12-13%, while value growth may lag at around 7-8%, primarily due to a consistent gap from mixed product sales.
Question 4: Sucrit Patil (EyeSight FinTrade):
"How do you prioritize growth levers like distribution and product innovation?"
Answer:
Both distribution and product innovation are essential. We've increased our distribution network significantly. Product innovations are pivotal for enhancing sales and profitability through new high-margin products.
Question 5: Sucrit Patil (EyeSight FinTrade):
"What are the key trade-offs between input cost volatility, pricing discipline, and investment?"
Answer:
Brand building and maintaining margins are priorities. We constantly monitor costs and innovate to manage input volatility, ensuring cash generation remains strong across cycles.
Question 6: Aditya Bhartia:
"What caused the change in demand optimism since the last call?"
Answer:
Demand wasn't as robust post-monsoon as anticipated. While stock buildup in previous months reduced replenishment sales, we expect improvements in February and March as conditions stabilize.
Question 7: Aditya Bhartia:
"What's the situation with the anti-dumping duty on TiO2?"
Answer:
We won the court case regarding the anti-dumping duty, which has been lifted. We are receiving refunds, and costs for TiO2 have decreased as a result.
Question 8: Karthik Chellappa (Indus Capital):
"Can you split the value-volume gap causes?"
Answer:
The mixed change accounts for 3-3.5%, with around 2%-2.5% due to previous price drops. Additional spend on painters and promotions adds 1.5%.
Question 9: Karthik Chellappa (Indus Capital):
"What led to some market share loss?"
Answer:
We lost approximately 0.2% market share due to competitive gains, primarily concentrated in specific regions, with some lost due to operational changes on our side.
Question 10: Rishi Modi:
"Can you elaborate on the impact of your new resin facility on gross margins?"
Answer:
The resin facility will contribute modestly to margins and is essential for meeting industrial demand, particularly as we anticipate growth in the automotive and protective sectors.
Question 11: Rishi Modi:
"What's your capital allocation plan given cash flow generation?"
Answer:
We plan to invest around Rs.1,800-2,000 crores in new factories in Panagar and Odisha, absorbing much of our generated cash. We're exploring small acquisitions but no current buyback plans.
Question 12: Anuragh Dayal (Philip Capital):
"What initiatives will drive growth in the market?"
Answer:
Innovative product launches and sustained marketing efforts are key to stimulating demand in premium segments. We'll continue introducing products to excite the market while maintaining margins.
Question 13: Anirudha Joshi:
"Could you elaborate on the minor market share loss?"
Answer:
Our market share has slightly declined due to competitive pressures, especially in various regions, but it's negligible, with fluctuations mostly confined to 0.1-0.3% based on local dynamics.
| 0.82% |
| GBS Dhingra Family Trust | 0.61% |
| Kuldip Singh Dhingra | 0.57% |
| Gurbachan Singh Dhingra | 0.46% |
| Vinu Dhingra | 0.4% |
| Meeta Dhingra | 0.1% |
| Kanwardip Singh Dhingra | 0.07% |
| Anshana Sawhney | 0.06% |
| Jessima Kumar | 0.06% |
| Rishma Kaur | 0.06% |
| Sunaina Kohli | 0.06% |
| Dipti Dhingra | 0.01% |
Distribution across major stakeholders
Distribution across major institutional holders
| 8.07 kCr |
| -12.80% |
| -13.40% |
| 27.96 |
| 2.03 |
| - |
| - |
| AKZOINDIA | Akzo Nobel India | 13.66 kCr | 3.79 kCr | -3.30% | -12.30% | 6.98 | 3.6 | - | - |
| INDIGOPNTS | Indigo Paints | 4.76 kCr | 1.37 kCr | -18.40% | -12.20% | 33.02 | 3.47 | - | - |
| SHALPAINTS | Shalimar Paints | 525.04 Cr | 608.83 Cr | -7.60% | -47.20% | -8.17 | 0.84 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| 1.4% |
| 2,627 |
| 2,590 |
| 2,781 |
| 2,381 |
| 2,608 |
| 2,446 |
| Profit Before exceptional items and Tax | 46.8% | 387 | 264 | 448 | 341 | 387 | 349 |
| Exceptional items before tax | - | -53.31 | 0 | -36.81 | 0 | 0 | 0 |
| Total profit before tax | 26.6% | 334 | 264 | 412 | 341 | 387 | 349 |
| Current tax | 45.3% | 94 | 65 | 103 | 95 | 95 | 89 |
| Deferred tax | -638.6% | -13.38 | 3.67 | 5.14 | -7.65 | 3.9 | -1.22 |
| Total tax | 19.4% | 81 | 68 | 108 | 87 | 98 | 88 |
| Total profit (loss) for period | 31.7% | 271 | 206 | 315 | 263 | 296 | 270 |
| Other comp. income net of taxes | -58.3% | 11 | 25 | 19 | -9.02 | 12 | -3.91 |
| Total Comprehensive Income | 21.6% | 282 | 232 | 334 | 254 | 308 | 266 |
| Earnings Per Share, Basic | 72.7% | 2.33 | 1.77 | 2.7 | 2.25 | 2.53 | 2.31 |
| Earnings Per Share, Diluted | 72.7% | 2.33 | 1.77 | 2.7 | 2.25 | 2.53 | 2.31 |
| 12.9% |
| 606 |
| 537 |
| 458 |
| 401 |
| 353 |
| 343 |
| Finance costs | -26.6% | 48 | 65 | 86 | 43 | 33 | 33 |
| Depreciation and Amortization | 7.1% | 318 | 297 | 234 | 198 | 186 | 171 |
| Other expenses | 0.6% | 1,801 | 1,791 | 1,580 | 1,312 | 1,133 | 1,024 |
| Total Expenses | 1.9% | 8,861 | 8,693 | 8,445 | 6,799 | 5,144 | 4,937 |
| Profit Before exceptional items and Tax | 4.7% | 1,431 | 1,367 | 1,103 | 1,005 | 933 | 905 |
| Exceptional items before tax | - | 0 | 0 | 0 | 0 | -14.8 | 0 |
| Total profit before tax | 4.7% | 1,431 | 1,367 | 1,103 | 1,005 | 919 | 905 |
| Current tax | 2.9% | 351 | 341 | 272 | 259 | 241 | 226 |
| Deferred tax | -91.7% | 1.83 | 11 | 2.58 | -3.48 | -2.75 | -20.1 |
| Total tax | 0.3% | 353 | 352 | 274 | 255 | 238 | 206 |
| Total profit (loss) for period | 6.2% | 1,078 | 1,015 | 828 | 750 | 681 | 699 |
| Other comp. income net of taxes | 9.3% | 0.22 | 0.14 | -0.55 | 0.82 | 0.01 | -6.52 |
| Total Comprehensive Income | 6.2% | 1,078 | 1,015 | 828 | 751 | 681 | 693 |
| Earnings Per Share, Basic | 6.9% | 9.24 | 8.71 | 7.1083333 | 6.4333333 | 5.8416667 | 6 |
| Earnings Per Share, Diluted | 6.9% | 9.24 | 8.71 | 7.1083333 | 6.4333333 | 5.8416667 | 6 |
| Debt equity ratio | - | - | - | 025 | 022 | 005 | - |
| Debt service coverage ratio | - | - | - | 0.0676 | - | 0.0581 | - |
| 135.5% |
| 180 |
| 77 |
| 159 |
| 129 |
| 90 |
| 78 |
| Non-current investments | 0% | 745 | 745 | 745 | 745 | 745 | 745 |
| Loans, non-current | -14.3% | 31 | 36 | 34 | 32 | 28 | 24 |
| Total non-current financial assets | 0.7% | 896 | 890 | 893 | 895 | 871 | 893 |
| Total non-current assets | 1.4% | 4,100 | 4,043 | 3,941 | 3,958 | 3,786 | 3,800 |
| Total assets | 1.3% | 8,280 | 8,177 | 7,893 | 7,582 | 7,670 | 7,400 |
| Borrowings, non-current | - | 0 | 0 | 0 | 0 | 341 | 0 |
| Total non-current financial liabilities | -0.4% | 456 | 458 | 484 | 488 | 421 | 377 |
| Provisions, non-current | 5% | 5.21 | 5.01 | 4.82 | 4.64 | 4.47 | 4.29 |
| Total non-current liabilities | 0.6% | 513 | 510 | 536 | 540 | 459 | 409 |
| Borrowings, current | -63.9% | 0 | 0.39 | 77 | 64 | 659 | 675 |
| Total current financial liabilities | -8.4% | 1,630 | 1,780 | 1,993 | 1,834 | 2,440 | 2,520 |
| Provisions, current | 11.3% | 70 | 63 | 61 | 56 | 55 | 52 |
| Current tax liabilities | 25% | 36 | 29 | 60 | 23 | 60 | 18 |
| Total current liabilities | 3.6% | 2,058 | 1,986 | 2,223 | 2,036 | 2,654 | 2,696 |
| Total liabilities | 3% | 2,571 | 2,495 | 2,759 | 2,576 | 3,113 | 3,105 |
| Equity share capital | 0% | 117 | 117 | 117 | 117 | 117 | 97 |
| Total equity | 0.5% | 5,709 | 5,681 | 5,134 | 5,005 | 4,557 | 4,295 |
| Total equity and liabilities | 1.3% | 8,280 | 8,177 | 7,893 | 7,582 | 7,670 | 7,400 |
| -24.6% |
| 1,119 |
| 1,483 |
| 934 |
| 519 |
| - |
| - |
| Net Cashflows From Operating Activities | -24.6% | 1,119 | 1,483 | 934 | 519 | - | - |
| Proceeds from sales of PPE | -33.1% | 1.81 | 2.21 | 1.58 | 8.6 | - | - |
| Purchase of property, plant and equipment | 67.5% | 356 | 213 | 698 | 713 | - | - |
| Dividends received | 4900% | 54 | 2.06 | 34 | 2.71 | - | - |
| Interest received | 80% | 19 | 11 | 6.38 | 17 | - | - |
| Other inflows (outflows) of cash | -165.4% | -262.08 | -98.11 | -3.43 | 147 | - | - |
| Net Cashflows From Investing Activities | -83% | -543.16 | -296.32 | -659.14 | -537.96 | - | - |
| Proceeds from issuing shares | 0% | 0.01 | 0.01 | 0.01 | 0 | - | - |
| Proceeds from borrowings | - | 650 | 0 | 0 | 0 | - | - |
| Repayments of borrowings | - | 710 | 0 | 0 | 0 | - | - |
| Payments of lease liabilities | -22.8% | 113 | 146 | 91 | 72 | - | - |
| Dividends paid | 31.3% | 408 | 311 | 301 | 272 | - | - |
| Interest paid | -101.2% | 0.7 | 25 | 51 | 21 | - | - |
| Other inflows (outflows) of cash | 99.2% | -4.02 | -610.29 | 159 | 360 | - | - |
| Net Cashflows from Financing Activities | 46.4% | -585.48 | -1,092.25 | -284.26 | -5.35 | - | - |
| Net change in cash and cash eq. | -111.6% | -9.81 | 94 | -9.11 | -24.7 | - | - |
General • 09 Jan 2026 Please find attached letter dated 9th January, 2025. |