NSE: INDIGOPNTS | BSE: 543258

Expensive Underperformer

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994.55 -3.55 (-0.36%)

42.19% Fall from 52W High

60,158 NSE+BSE Volume

NSE 29 Apr, 2025 3:31 PM (IST)

4,737.5

Market Cap

Below industry Median

0.7

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.

13 Feb 2023

994.55

-0.36%

Indigo Paints

Buy: Indigo Paints Ltd.

Sharekhan

Indigo Paints Ltd. is trading above its 30 day SMA of 992.6

Indigo Paints Ltd.

13 Feb 2023

994.55

-0.36%

Sales hit by extended monsoon; but current demand healthy

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. is trading below its 50 day SMA of 1020.2

Indigo Paints Ltd.

12 Feb 2023

994.55

-0.36%

Weaker-than-expected Q3; we model benefits of strategy 2.0 in FY24

Hold: Indigo Paints Ltd.

Target

ICICI Securities Limited

In-line with peers, prolonged monsoon and early Diwali impacted Q3FY23 revenues for Indigo. Even after adjusting for transitory issues, it’s Q3FY23 revenues were below our and consensus expectations.

Indigo Paints Ltd. has an average target of 1561.17 from 6 brokers.

Indigo Paints Ltd.

04 Nov 2022

994.55

-0.36%

In-line performance; albeit better than peers

Hold: Indigo Paints Ltd.

Target

ICICI Securities Limited

While Indigo’s Q2FY23 results were largely in-line with our estimates, we believe consensus was positively surprised. In-spite of headwinds like prolonged rainfall which impacted exterior emulsions, we note Indigo’s revenue growth (23.7% YoY) was higher than Asian Paints (19.4%) and Kansai (19.2%).

Indigo Paints Ltd. is trading above its 30 day SMA of 992.6

Indigo Paints Ltd.

08 Aug 2022

994.55

-0.36%

Appropriate investments may lead to continuing market share gains in decorative paints

Hold: Indigo Paints Ltd.

Target

ICICI Securities Limited

While Indigo’s revenue of 43.6% appears lower than peers, we note it has grown largely in-line with peers with 17% three-year revenue CAGR and has maintained market shares.

Indigo Paints Ltd. is trading below its 50 day SMA of 1020.2

Indigo Paints Ltd.

06 Aug 2022

994.55

-0.36%

Inline sales, sequential gross margin improvement continues

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. is trading below its 50 day SMA of 1020.2

Indigo Paints Ltd.

11 Jul 2022

994.55

-0.36%

Reasons for slowdown in FY22 and likely revival in FY23-24

Hold: Indigo Paints Ltd.

ICICI Securities Limited

While Indigo’s most segments reported strong volume growth in FY22, its volumes/store declined slightly in FY22 owing to multiple reasons such as (1) aggressive rollout of new stores, (2) slowdown in Kerala impacted by covid and state elections. Kerala’s 18% population was impacted by covid (India: 3%) and it resulted in higher restrictions; state elections in Apr-May’21 also disrupted labour (painter) market

Indigo Paints Ltd. is trading below its 50 day SMA of 1020.2

Indigo Paints Ltd.

23 May 2022

994.55

-0.36%

Margin surprises positively, outlook on volume improving

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. has an average target of 1561.17 from 6 brokers.

Indigo Paints Ltd.

14 Feb 2022

994.55

-0.36%

Price hikes drive margin recovery; outlook positive

Buy: Indigo Paints Ltd.

Motilal Oswal

Indigo Paints (INDIGOPN) delivered strong double-digit sales growth in 3QFY22, driven by sharp price hikes taken to offset the high RM inflation. Even as sales and gross margins were in line with our expectations, EBITDA margins were better than expected. This was despite the high A&P spends in the quarter on account of the IPL. The management is upbeat about the 4Q outlook as traditionally the company has seen the highest salience during this quarter, with higher sales for differentiated products. The recent price hikes would further aid...

Indigo Paints Ltd. has an average target of 1561.17 from 6 brokers.

VOTE: Is Indigo Paints Ltd. worth buying?

151 Votes:

Buy 84.11%

Sell 9.27%

Hold 6.62%

RESEARCH REPORTS

Neutral SEE REPORTS >

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Buy SEE REPORTS >

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