Daijiworld Media Network - Mumbai

Mumbai, Oct 30: Indigo Paints on Friday reported a 47 per cent year-on-year decline in net profit to Rs 13.3 crore for the quarter ended September 2026 (Q2 FY27), compared with Rs 25.1 crore in the corresponding quarter of the previous financial year.

However, the paint manufacturer recorded a 15 per cent increase in revenue from operations to Rs 359 crore during the quarter, up from Rs 312 crore a year ago, according to its stock exchange filing.

The company's operating performance remained under pressure, with EBITDA declining 33.5 per cent to Rs 31 crore from Rs 47 crore in the year-ago period. EBITDA margin also contracted sharply to 8.7 per cent from 14.9 per cent.

Despite the weak quarterly performance, Indigo Paints reported growth during the first half of FY27.

On a standalone basis, revenue from operations rose 16.4 per cent to Rs 690.5 crore for the six months ended September 30, 2026, compared with Rs 593.4 crore in the corresponding period last year.

Standalone EBITDA, excluding other income, increased 3.2 per cent to Rs 92.3 crore during the period, while net profit grew 8.3 per cent to Rs 56.2 crore from Rs 51.9 crore.

The company reported a gross margin of 41.9 per cent, an EBITDA margin of 13.4 per cent and a net profit margin of 8 per cent during the first half.

On a consolidated basis, Indigo Paints recorded revenue of Rs 728.4 crore during the April-September period, registering a 17.3 per cent increase over the year-ago period.

Consolidated EBITDA, excluding other income, grew 2.4 per cent to Rs 93 crore, while net profit increased 7.4 per cent to Rs 55.1 crore.

The company's consolidated EBITDA margin stood at 12.8 per cent during the first half, while its net profit margin was 7.4 per cent.

Ahead of the earnings announcement, shares of Indigo Paints closed 2.06 per cent lower at Rs 991 apiece on October 30, declining Rs 20.80 from the previous close.