NSE: INDIGOPNTS | BSE: 543258

Mid-range Performer

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1181.00 2.30 (0.20%)

29.78% Gain from 52W Low

7,108 NSE+BSE Volume

NSE 19 Dec, 2025 11:20 AM (IST)

5,630.5

Market Cap

Below industry Median

Beta 1Year

Average 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.

08 Aug 2022

1181.00

0.20%

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 above its 200 day SMA of 1103.2

Indigo Paints Ltd.

06 Aug 2022

1181.00

0.20%

Inline sales, sequential gross margin improvement continues

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. is trading below its 30 day SMA of 1248.7

Indigo Paints Ltd.

11 Jul 2022

1181.00

0.20%

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 30 day SMA of 1248.7

Indigo Paints Ltd.

23 May 2022

1181.00

0.20%

Margin surprises positively, outlook on volume improving

Buy: Indigo Paints Ltd.

Target

Motilal Oswal

Indigo Paints Ltd. is trading above its 200 day SMA of 1103.2

Indigo Paints Ltd.

14 Feb 2022

1181.00

0.20%

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 1271.33 from 3 brokers.

Indigo Paints Ltd.

30 Dec 2021

1181.00

0.20%

Colorful prospects!

Indigo Paints Ltd.

Motilal Oswal

Indigo Paints Ltd. is trading below its 30 day SMA of 1248.7

Indigo Paints Ltd.

20 Jan 2021

1181.00

0.20%

IPO Note: Indigo Paints Ltd. - 20 January 2021

IPO Note: Indigo Paints Ltd.

Way2Wealth

Way2Wealth Brokers Pvt. Ltd. (CIN U67120KA2000PTC027628) SEBI Rgn. No. : INH200002739. Registered Office:Rukmini Towers, 3rd& 4thFloor, # 3/1, Platform Road, Sheshadripuram, Bangalore - 560 020, Website: www.way2wealth.com Email: research@way2wealth.com...

Indigo Paints Ltd. is trading below its 30 day SMA of 1248.7

Indigo Paints Ltd.

20 Jan 2021

1181.00

0.20%

Indigo Paints Ltd. IPO Note

IPO Note: Indigo Paints Ltd.

Ashika Research

10 each, (Comprising of fresh issue of 2,013,423 Equity Shares* (Rs. 300 cr.) and Offer for Sale of 5,840,000 Total Equity Shares* (Rs. 870 cr.) by Selling Shareholder)...

Indigo Paints Ltd. is trading above its 200 day SMA of 1103.2

Indigo Paints Ltd.

19 Jan 2021, 11:11AM

1181.00

0.20%

Indigo Paints - IPO Note

IPO Note: Indigo Paints Ltd.

HDFC Securities

Indigo Paints - IPO Note Indigo Paints Ltd (IPL) the fifth largest company in the Indian decorative paint industry in terms of revenue from operations for Fiscal 2020 and the fastest growing amongst the top five paint companies in India.

Indigo Paints Ltd. is trading above its 200 day SMA of 1103.2

Indigo Paints Ltd.

19 Jan 2021, 12:00AM

1181.00

0.20%

Indigo Paints Ltd. - IPO

IPO Note: Indigo Paints Ltd.

ICICI Securities Limited

Indigo was the first company to launch differentiated paint products and has enjoyed the first mover advantage. The revenue from premium products categories have registered CAGR of 30% in FY18-20, while the revenue contribution from the same has increased from 26.7% in FY18 to 28.6% by FY20. These products command superior EBITDA margin (~10 percent points higher than normal products) and company is planning to increase...

Indigo Paints Ltd. is trading above its 200 day SMA of 1103.2

VOTE: Is Indigo Paints Ltd. worth buying?

161 Votes:

Buy 83.23%

Sell 10.56%

Hold 6.21%

RESEARCH REPORTS

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