Consumer Durables
Valuation | |
|---|---|
| Market Cap | 55.25 kCr |
| Price/Earnings (Trailing) | 52.36 |
| Price/Sales (Trailing) | 4.67 |
| EV/EBITDA | 31.1 |
| Price/Free Cashflow | 74.01 |
| MarketCap/EBT | 40.92 |
| Enterprise Value | 55.72 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 2.2% |
| Price Change 1M | -10% |
| Price Change 6M | -14% |
| Price Change 1Y | -1.1% |
| 3Y Cumulative Return | 0.30% |
| 5Y Cumulative Return | -4.9% |
| 7Y Cumulative Return | 8.9% |
| 10Y Cumulative Return | 11.2% |
| 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 | 12% |
| Return on Equity | 17.17% |
| Return on Assets | 11.42% |
| Free Cashflow Yield | 1.35% |
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 | 21.29 |
| Interest/Cashflow Ops | 21.28 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 3.8 |
| Dividend Yield | 0.80% |
| 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.
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.
Balance Sheet: Strong Balance Sheet.
Profitability: Recent profitability of 9% is a good sign.
Technicals: SharesGuru indicator is Bearish.
Past Returns: Underperforming stock! In past three years, the stock has provided 0.3% return compared to 13% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
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.
Balance Sheet: Strong Balance Sheet.
Profitability: Recent profitability of 9% is a good sign.
Technicals: SharesGuru indicator is Bearish.
Past Returns: Underperforming stock! In past three years, the stock has provided 0.3% return compared to 13% by NIFTY 50.
Investor Care | |
|---|---|
| Dividend Yield | 0.80% |
| 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) | 21.02 |
| RSI (5d) | 71.61 |
| RSI (21d) | 27.64 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Buy |
| RSI5 Signal | Sell |
| RSI21 Signal | Buy |
| SMA 5 Signal | Buy |
| 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.
Outlook by Management:
Major Points:
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 | 2.33 LCr | 35.35 kCr | -14.50% | +6.90% | 60.62 | 6.6 | - | - |
| KANSAINER | Kansai Nerolac Paints | 17.65 kCr |
Comprehensive comparison against sector averages
BERGEPAINT metrics compared to Consumer
| Category | BERGEPAINT | Consumer |
|---|---|---|
| PE | 51.23 | 54.20 |
| PS | 4.68 | 1.47 |
| Growth | 3.2 % | 29.1 % |
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.
| Sell |
| 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.
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. |
General • 09 Jan 2026 Please find attached letter dated 9th January, 2025. |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question 1:
Sir, we have seen the new entrant in the market has reached more than almost 1,200 crore sales, probably in 9 months itself. And now the new plant will also start in Eastern India. So now, Berger, in a way, has got some extra time compared to other peers to understand the strategies and aggression. What will be our strategy to counter them as they enter Eastern India? Also, are green shoots visible in January?
Answer: Berger expects the new competitor's impact to remain limited (3.5% market share YTD) and emphasizes accelerated distribution expansion and urban initiatives to offset challenges. Temporary volume-value gaps (price cuts, low-value product mix) will ease as price reductions end. Sequential demand improvement is noted, with Q4 volume growth likely near double digits.
Question 2:
Why is there a divergence in Berger's volume growth versus peers? Is it regional or due to competitive intensity? Also, why did gross margins dip despite higher premium/exterior sales?
Answer: The divergence stems from aggressive distribution expansion and urban initiatives. Gross margins were stable (~39.8%) despite mix shifts toward high-volume, low-value products (e.g., tile adhesives, textures) and price cuts. Margins were resilient due to cost controls, though currency depreciation and monomer prices had minor impacts.
Question 3:
What is Berger's stance on the potential Akzo Nobel deal? Could a new entrant post-acquisition intensify competition?
Answer: Berger ruled out bidding for Akzo Nobel's India unit, citing a lack of strategic fit. The deal is unlikely to disrupt competition significantly, as Akzo's existing operations are well-established. New entrants pose risks, but growth focus remains on distribution and premiumization.
Question 4:
Will Q4 industry value growth reach mid-to-high single digits? How sustainable are mix-related margin pressures? Explain urban initiatives and dealer profiles.
Answer: Industry value growth may lag volume due to lingering price cuts. Mix impacts (low-value products) will persist but normalize as bases stabilize. Urban strategies focus on improving metro presence via new dealers (existing/non-paint entrants), driving availability and secondary sales. Inventory levels are lean, aiding rebound potential.
Question 5:
Why were Q3 other expenses lower YoY despite festive demand? How sustainable are these savings?
Answer: Cost-saving measures (non-essential overhead cuts, tech adoption) drove expense reductions. Ad spends were maintained, but discretionary costs were trimmed. These savings are sustainable through operational efficiency and tech integration.
Question 6:
What are Berger's urban dealer addition targets? How healthy is inventory at newer counters?
Answer: Over 2,000 retail touchpoints and 1,800 color banks were added recently. Dealer inventory is lean due to demand tracking and secondary sales focus. Urban growth is prioritized in weaker metros, with exterior products gaining traction.
Question 7:
Are rural markets outperforming urban for Berger, as peers suggest?
Answer: No. Berger's urban growth is stronger due to low prior penetration and targeted expansion. Rural-urban trends vary by player; Berger's urban focus offsets broader slowdowns.
Question 8:
How will INR depreciation affect Q4 margins?
Answer: Limited impact expected: 25"“30% imported RM cost exposure is partly offset by stable crude prices. Margin guidance (15"“17%) remains intact, aided by operating leverage and cost controls.
Question 9 (Follow-up):
Why is Akzo Nobel not a strategic fit despite premium segment synergies?
Answer: Overlap in urban/exterior segments (e.g., Berger's WeatherCoat) reduces synergies. Valuation and integration risks outweighed benefits, given Berger's existing brand strength and growth plans.
Question 10 (Follow-up):
Why is paint demand underperforming GDP?
Answer: Temporary factors: price cuts (-5% value), new entrant share (~3.5%), and weak sentiment. Normalization is expected post-Q4 as price cuts reverse and demand recovers. Structural drivers (GDP multiplier) remain intact.
| 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 |
| -9.10% |
| -11.00% |
| 30.15 |
| 2.19 |
| - |
| - |
| AKZOINDIA | Akzo Nobel India | 12.86 kCr | 3.79 kCr | -11.20% | -24.50% | 6.57 | 3.39 | - | - |
| INDIGOPNTS | Indigo Paints | 4.82 kCr | 1.37 kCr | -15.00% | -20.30% | 33.48 | 3.52 | - | - |
| SHALPAINTS | Shalimar Paints | 511.81 Cr | 625.72 Cr | -15.80% | -56.00% | -7.96 | 0.82 | - | - |
| 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 | - | - |