NSE: INDIGOPNTS | BSE: 543258

Mid-range Performer

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1057.80 -17.50 (-1.63%)

38.51% Fall from 52W High

63,649 NSE+BSE Volume

NSE 17 Jun, 2025 3:31 PM (IST)

5,038.8

Market Cap

Below industry Median

0.8

Beta 1Year

Very Low volatility

Indigo Paints Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for INDIGOPNTS, BSE:543258 Indigo Paints Ltd.

Indigo Paints Ltd.

07 Aug 2024

1057.80

-1.63%

Weak Q1; focus on market share gains ahead

Buy: Indigo Paints Ltd.

Target

Sharekhan

Indigo Paints Limited’s (IPL’s) Q1FY2025 numbers were weak as margins lagged expectations. OPM fell by ~180 bps y-o-y to 15.2%, while PAT declined by 15% y-o-y. Consolidated revenue grew by 7.8%.

Indigo Paints Ltd. has an average target of 1472.40 from 5 brokers.

Indigo Paints Ltd.

07 Aug 2024

1057.80

-1.63%

Weak performance; watchful for industry trends

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

INDIGOPN’s standalone sales growth decelerated to 6% YoY (from 12% in 4QFY24 and 18% in FY24) due to subdued industry sales (down 2% YoY) and demand weakness in Kerala.

Indigo Paints Ltd. is trading above its 50 day SMA of 1025.5

Indigo Paints Ltd.

04 Jul 2024

1057.80

-1.63%

Indigo Paints Limited

Buy: Indigo Paints Ltd.

Keynote Capitals Ltd

Initiating Coverage Report

Indigo Paints Ltd. is trading above its 50 day SMA of 1025.5

Indigo Paints Ltd.

23 May 2024

1057.80

-1.63%

Slow organic growth; FY24 print better than peers’

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints (INDIGOPN) delivered consolidated sales growth of 18% YoY
to INR3.8b (est. INR3.9b). Standalone sales growth decelerated to 12.5%
YoY in 4QFY24 vs. 19% in 9MFY24. Apple Chemie clocked 24% YoY growth
in FY24 to INR517mn (since acquisition in 1QFY24) and supported
consolidated growth

Indigo Paints Ltd. is trading above its 50 day SMA of 1025.5

Indigo Paints Ltd.

23 May 2024

1057.80

-1.63%

Impressive market share gains as Strategy 2.0 execution in full flow

Hold: Indigo Paints Ltd.

Recommendation Target

ICICI Securities Limited

Indigo’s strategy 2.0 has continued to yield strong results with market share gains for straight fourth quarter.

Sharekhan decreased Buy price target of Indigo Paints Ltd. to 1234.0 on 29 May, 2025.

Indigo Paints Ltd.

06 Nov 2023

1057.80

-1.63%

Indigo Paints

Buy: Indigo Paints Ltd.

Sharekhan

Indigo Paints Ltd. is trading below its 100 day SMA of 1062.5

Indigo Paints Ltd.

06 Nov 2023

1057.80

-1.63%

Below our estimates, but better than peer trends resume

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. has an average target of 1472.40 from 5 brokers.

Indigo Paints Ltd.

06 Nov 2023

1057.80

-1.63%

Geographical expansion and good execution driving market share gains

Sell: Indigo Paints Ltd.

Target

ICICI Securities Limited

Indigo’s strategy 2.0 is resulting in industry-leading revenue growth and market share gains. While we are enthused by Indigo’s strong volume-led revenue growth across segments, we believe steep increase in tinting machines (18.1%YoY) is also one of the chief reasons for growth.

Indigo Paints Ltd. is trading above its 50 day SMA of 1025.5

Indigo Paints Ltd.

08 Aug 2023

1057.80

-1.63%

Great execution prowess

Sell: Indigo Paints Ltd.

Target

ICICI Securities Limited

Indigo has been investing in strategy 2.0 (focus on 750 non-metro towns and higher investments in distribution and influencers) since Q1FY23. Benefits are visible now with >3x industry growth in Q1FY24 and likely market share gains across segments.