Berger Paints India (BERGEPAINT) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 achieved 11.8% volume growth and 6.7% value growth, with market share above 20% among listed peers and strong traction across key business segments.

• Gross and operating margins reached multi-quarter highs, driven by favorable mix, operating leverage, and lower raw material costs.

• PAT before exceptional items rose 23%, and after exceptional items (insurance claim) grew 38%.

• Decorative, construction chemicals, waterproofing, and automotive coatings all delivered strong growth.

• Retail footprint expanded with over 700 new stores and 2,600+ tinting machines added in Q4.

Financial highlights

• Q4 FY26 standalone revenue rose 6.7% YoY to ₹2,504 crore; consolidated revenue up 6.1% YoY to ₹2,868.03 crore.

• Standalone Q4 net profit rose 38.1% YoY to ₹327.28 crore; consolidated Q4 net profit up 27.5% YoY to ₹335.25 crore.

• FY26 standalone revenue up 2.5% YoY to ₹10,420.1 crore; consolidated revenue up 2.9% YoY to ₹11,880.25 crore.

• Standalone FY26 net profit grew 1.7% YoY to ₹1,095.66 crore; consolidated FY26 net profit declined 4.6% YoY to ₹1,128.02 crore.

• Board recommended a dividend of ₹4.00 per share (400%) for FY26.

Outlook and guidance

• Gradual recovery expected across decorative and industrial businesses in FY27.

• Staggered price hikes and cost optimization to support margins amid rising raw material costs.

• Growth momentum anticipated in construction chemicals, waterproofing, wood coatings, and new product launches.

• Operating margins expected to remain within the 15%-17% guided range.

• Cautious on near-term margin risks due to forex volatility and geopolitical uncertainty.