Indigo Paints Q1 profit jumps 60% to ₹41.7 crore, revenue rises 19.7%

Indigo Paints reported a 60% year-on-year increase in consolidated net profit to ₹41.7 crore for the quarter ended June 30, 2026, compared with ₹26.1 crore in the corresponding quarter last year.

Consolidated revenue from operations rose 19.7% to ₹369.7 crore from ₹308.9 crore in Q1 FY26, while EBITDA, excluding other income, increased 40% to ₹62 crore from ₹44.3 crore a year ago. The company's consolidated EBITDA margin stood at 16.8%, compared with around 14.3% in the year-ago quarter.

The company's performance was supported by continued growth in both value and volumes. Indigo Paints said its sales momentum remained strong during the quarter.

“Sales momentum continued to remain strong and both value and volume have grown in double digits,” the company said in its results release.

Margins expand despite raw material pressure

The company said its subsidiary, Apple Chemie India, also sustained its growth momentum, recording 40.1% growth during the quarter. However, the strong topline performance was partly offset by pressure on margins arising from higher raw material costs and inventory build-up.

On a consolidated basis, EBITDA margin stood at 16.8%, while PAT margin was 11% during the quarter. Indigo Paints said the consolidated business delivered 19.7% growth even as it faced margin headwinds from rising raw material costs and inventory accumulation.

At the standalone level, the company's performance was even stronger. Revenue from operations increased 18.7% to ₹350 crore, compared with ₹294.9 crore in Q1 FY26. Standalone EBITDA, excluding other income, rose 42% to ₹61.9 crore from ₹43.6 crore, while net profit increased 60.7% to ₹42.4 crore from ₹26.4 crore.

Gross margin remains healthy

Indigo Paints said its standalone gross margin remained healthy at 45.3% despite supply-chain disruptions. The EBITDA margin expanded to 17.7% in Q1 FY27 from 14.8% in the year-ago period.

The company also reported an improvement in PAT margin, which rose to 11.8% from 8.8%, aided by mark-to-market gains in treasury income, or other income.

Overall, the company said the quarter reflected strong underlying sales momentum, with profitability growing substantially faster than revenue. The results were approved by the board on August 13, 2026, with the financial statements subjected to limited review by the statutory auditors.

Shares of Indigo Paints ended Thursday 0.10% lower at ₹1,121 apiece on the NSE. The stock has gained nearly 2% over the past year, broadly in line with the Nifty 50, which has declined nearly 1% during the period.