Indigo Paints (INDIGOPNTS) Q4 23/24 earnings summary

Executive summary

• Achieved consolidated revenue growth of 21.68% in FY24, significantly outpacing industry average.

• EBITDA grew 31.14% year-over-year to ₹23,807 lakhs, with margin expansion to 18.23%.

• PAT increased 28.73% year-over-year to ₹14,883 lakhs, with a PAT margin of 11.27%.

• Strategic acquisition of Apple Chemie India Pvt. Ltd. expanded product portfolio into construction chemicals and waterproofing.

• Commissioned a new automated manufacturing facility in Pudukkottai, Tamil Nadu, and initiated new plant projects in Jodhpur.

Financial highlights

• Revenue from operations: ₹130,609 lakhs (up 21.68% YoY).

• EBITDA: ₹23,807 lakhs (up 31.14% YoY); EBITDA margin: 18.23%.

• PAT: ₹14,883 lakhs (up 28.73% YoY); PAT margin: 11.27%.

• ROCE: 22.67%; RONW: 16.50%.

• Dividend per share: ₹3.50.

• Cash from operations: ₹21,026 lakhs.

Outlook and guidance

• Continued focus on product innovation, capacity expansion, and geographic growth, especially in Tier 1 and Tier 2 cities.

• Expect further sales growth in construction chemicals and waterproofing segments.

• Ongoing investments in new plants and doubling putty manufacturing capacity.

• Favorable macro environment with urbanization and rising disposable incomes expected to support future growth.