Indigo Paints Ltd.

NSE: INDIGOPNTS | BSE: 543258

Expensive Underperformer

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985.70 3.20 (0.33%)

New 52W Low in past week

76,446 NSE+BSE Volume

NSE 11 Apr, 2025 3:31 PM (IST)

3

Broker 1Year buys

3 active buys

0

Broker 1Year sells

0 active sells

3

Broker 1Year neutral

3 active holds

Indigo Paints Ltd. share price target

Indigo Paints Ltd. has an average target of 1561.17. The consensus estimate represents an upside of 58.38% from the last price of 985.70. View 12 reports from 6 analysts offering long-term price targets for Indigo Paints Ltd..

Reco - This broker has downgraded this stock from it's previous report.
(eg. - Buy->Hold)

Target - Broker has maintained previous recommendation but reduced share price target.

Reco - This broker has upgraded this stock from it's previous report.
(eg. - Sell->Hold)

Target - Broker has maintained previous recommendation but increased share price target.

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Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report		Discuss
	13 Apr 2025	Indigo Paints	Consensus Share Price Target	985.70	1406.00	-	42.64	buy	pdf Detailed Estimates
	14 Feb 2025	Indigo Paints	Keynote Capitals Ltd Target	985.70	1139.00	1085.75 (-9.21%)	15.55	Neutral	pdf post cache		Broker Report Indigo Paints Ltd. Keynote Capitals Ltd Quarterly Update Q3FY25 pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2025	Indigo Paints	Motilal Oswal Target	985.70	1500.00	1241.40 (-20.60%)	52.18	Buy	pdf post cache		Broker Report Miss on revenue; demand pick up a key monitorable Motilal Oswal Indigo Paints (INDIGOPN)’s standalone sales declined 4% YoY in 3QFY25 due to consistent pressure on demand. The paint industry dipped 4% YoY in 3Q. Apple Chemie (subsidiary) clocked a robust sales growth of 21% YoY. pdf Copy Link Share on Share on Share on Share on Alert
	13 Nov 2024	Indigo Paints	Asit C Mehta Investment Interrmediates	985.70	1710.00	1500.40 (-34.30%)	73.48	Hold	pdf post cache		Broker Report Muted industry dynamics led to lower growth for H1, while relative outperformance continued Asit C Mehta Investment Interrmediates Indigo Paints reported revenue of Rs 2,995 mn in the quarter, a growth of 7.4% YoY, but a decline of 3.7% QoQ. pdf Copy Link Share on Share on Share on Share on Alert
	12 Nov 2024	Indigo Paints	Keynote Capitals Ltd Target	985.70	1552.00	1499.10 (-34.25%)	57.45	Neutral	pdf post cache		Broker Report Indigo Paints Ltd. Keynote Capitals Ltd Quarterly Update Q2FY25 pdf Copy Link Share on Share on Share on Share on Alert
	09 Nov 2024	Indigo Paints	Motilal Oswal Target	985.70	1750.00	1534.45 (-35.76%)	77.54	Buy	pdf post cache		Broker Report In-line revenue; watchful for demand pickup in 2HFY25 Motilal Oswal Indigo Paints’ (INDIGOPN) standalone sales growth stood at 7% YoY in 2QFY25 (6% in 1QFY25, 18% in FY24) due to subdued industry demand (1% down in 1HFY25). pdf Copy Link Share on Share on Share on Share on Alert
	25 Oct 2024	Indigo Paints	FundsIndia	985.70	1888.00	1642.95 (-40.00%)	91.54	Buy	pdf post cache		Broker Report INDIGO PAINTS LIMITED FundsIndia pdf Copy Link Share on Share on Share on Share on Alert
	12 Aug 2024	Indigo Paints	Keynote Capitals Ltd Reco Target	985.70	1457.00	1432.65 (-31.20%)	Target met	Neutral	pdf post cache		Broker Report Indigo Paints Limited Keynote Capitals Ltd Quarterly Update Q1FY25 pdf Copy Link Share on Share on Share on Share on Alert
	07 Aug 2024	Indigo Paints	Motilal Oswal Target	985.70	1700.00	1478.20 (-33.32%)	Target met	Buy	pdf post cache		Broker Report Weak performance; watchful for industry trends 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. pdf Copy Link Share on Share on Share on Share on Alert
	07 Aug 2024	Indigo Paints	Sharekhan Target	985.70	1750.00	1478.20 (-33.32%)	77.54	Buy	pdf post cache		Broker Report Weak Q1; focus on market share gains ahead 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%. pdf Copy Link Share on Share on Share on Share on Alert
	04 Jul 2024	Indigo Paints	Keynote Capitals Ltd	985.70	1594.00	1380.70 (-28.61%)	Target met	Buy	pdf post cache		Broker Report Indigo Paints Limited Keynote Capitals Ltd Initiating Coverage Report pdf Copy Link Share on Share on Share on Share on Alert
	23 May 2024	Indigo Paints	Motilal Oswal Target	985.70	1600.00	1386.90 (-28.93%)	Target met	Buy	pdf post cache		Broker Report Slow organic growth; FY24 print better than peers’ 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 pdf Copy Link Share on Share on Share on Share on Alert
	23 May 2024	Indigo Paints	ICICI Securities Limited Reco Target	985.70	1380.00	1386.90 (-28.93%)	Target met	Hold	pdf post cache		Broker Report Impressive market share gains as Strategy 2.0 execution in full flow ICICI Securities Limited Indigo’s strategy 2.0 has continued to yield strong results with market share gains for straight fourth quarter. pdf Copy Link Share on Share on Share on Share on Alert
	06 Nov 2023	Indigo Paints	Sharekhan	985.70	1850.00	1467.95 (-32.85%)		Buy	pdf post cache		Broker Report Indigo Paints Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	06 Nov 2023	Indigo Paints	Motilal Oswal Target	985.70	1770.00	1421.05 (-30.64%)		Buy	pdf post cache		Broker Report Below our estimates, but better than peer trends resume Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	06 Nov 2023	Indigo Paints	ICICI Securities Limited Target	985.70	1375.00	1464.10 (-32.68%)	Target met	Sell	pdf post cache		Broker Report Geographical expansion and good execution driving market share gains 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. pdf Copy Link Share on Share on Share on Share on Alert
	08 Aug 2023	Indigo Paints	Sharekhan Target	985.70	1850.00	1544.85 (-36.19%)		Buy	pdf post cache		Broker Report Indigo Paints Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	08 Aug 2023	Indigo Paints	ICICI Securities Limited Target	985.70	1500.00	1597.15 (-38.28%)	Target met	Sell	pdf post cache		Broker Report Great execution prowess 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. pdf Copy Link Share on Share on Share on Share on Alert
	29 May 2023	Indigo Paints	Sharekhan Target	985.70	1700.00	1456.25 (-32.31%)		Buy	pdf post cache		Broker Report Indigo Paints Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	29 May 2023	Indigo Paints	Motilal Oswal Target	985.70	1700.00	1471.75 (-33.03%)		Buy	pdf post cache		Broker Report Robust performance; demand momentum healthy Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	28 May 2023	Indigo Paints	ICICI Securities Limited Reco Target	985.70	1300.00	1507.40 (-34.61%)	Target met	Sell	pdf post cache		Broker Report Benefits due to strategy 2.0 in FY24 hold the key for rerating ICICI Securities Limited There was sequential recovery in almost all segments of Indigo in Q4FY23 and Apr May’23 are also strong months. We attribute this improvement to likely success of ‘Strategy 2.0’ as tier 1 and 2 cities are growing at ~100% higher than tier 3 and 4 cities and rural markets. pdf Copy Link Share on Share on Share on Share on Alert
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