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Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities Great execution prowess 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. We continue to model benefits of strategy 2.0 in FY23-25 and also believe (1) integration of Apple Chemie with Indigo’s supply chain and synergies in sourcing and distribution and (2) correction in commodity pric...
Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Source: ICICI Securities
18/08/2023 12:04:30 PM
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit Indigo Paints is currently trading at Rs. 1623.45, up by 24.45 points or 1.53% from its previous closing of Rs. 1599.00 on the BSE. The scrip opened at Rs. 1626.05 and has touched a high and low of Rs. 1700.00 and Rs. 1619.10 respectively. So far 24075 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1730.90 on 26-Aug-2022 and a 52 week low of Rs. 981.05 on 28-Mar-2023. Last one week high and low of the scrip st...
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit
Source: Accord Fintech
8/08/2023 10:54:50 AM
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities Opening up newer growth avenues is pleasing ndigo's performance is best in class. Period. That said, in 3QFY22, it reported gross margin decline of 670bps YoY, lower adspends led to EBITDA growth of 22.8% YoY; only paint company to report growth. Transitory issues like prolonged monsoon, raw material inflation and slight impact of lockdown in Kerala have continued to impact performance. We like (1) it has introduced differentiated paint for bathroom and kitchen which helps to reduce od...
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities
Source: ICICI Securities Ltd
2/03/2023 12:32:08 PM
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal Below our estimates, but better than peer trends resume While INDIGOPN’s 2QFY23 result was below our estimates it did not witness the huge mix deterioration reported by its peers. Consequently, the three-year sales CAGR stood at 23.6%, which is better than both APNT and KNPL, two of its Paint peers to have reported their results so far. While INDIGOPN posted much lower sales, the momentum seen in FY22 v/s its peers seems to be returning. The management indicated a continued sales ...
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
23/11/2022 4:02:38 PM
India`s Indigo Paints Q2 profit more than doubles India's Indigo Paints on Thursday reported a second-quarter profit that more than doubled, as price hikes helped offset increasing costs of raw materials. Net profit jumped 173.8% to 370.9 million Indian rupees ($4.47 million) for the three months ended Sept. 30, from 135.5 million rupees a year earlier, the Pune-based company said in an exchange filing. Larger rivals Asian Paints and Kansai Nerolac Paints have missed profit expectations for the latest reported quarter due to a long...
India`s Indigo Paints Q2 profit more than doubles
India`s Indigo Paints Q2 profit more than doubles
Source: Reuters
3/11/2022 4:38:28 PM
Hold Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities Reasons for slowdown in FY22 and likely revival in FY23-24 While Indigo’s most segments reported strong volume growth in FY22, its volumes/store declined slightly in FY22 owing to multiple reasons such as (1) aggressive rollout of new stores, (2) slowdown in Kerala impacted by covid and state elections. Kerala’s 18% population was impacted by covid (India: 3%) and it resulted in higher restrictions; state elections in Apr-May’21 also disrupted labour (painter) market. We ...
Hold Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Hold Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Source: ICICI Securities Ltd
12/07/2022 11:47:28 AM
Reduce Indigo Paints Ltd For Target Rs.1,709 - Yes Securities Shifting focus to larger and more competitive urban markets; maintain REDUCE Result Synopsis Indigo Paints growth in Q4 was largely driven by price increase with volume growth being very low. In some of the product categories, it even saw a volume decline as there was over stocking in the channel caused by steep price increases in Q3. It saw good traction in markets like Kerala which recorded strong double‐digit growth. The company which has traditionally been doing well in tier 3 and 4...
Reduce Indigo Paints Ltd For Target Rs.1,709 - Yes Securities
Reduce Indigo Paints Ltd For Target Rs.1,709 - Yes Securities
Source: Yes Securities Ltd
25/05/2022 11:52:48 AM
Indigo Paints Q4 net profit up 39.14% at Rs 34.59 cr The company reported standalone net profit of Rs 34.59 crore for the quarter ended March 31, 2022 as compared to Rs 24.86 crore in the same period last year, registering a year-on-year growth of 39.14 per cent. Net revenue of the company rose moderately by 13.41 per cent at Rs 288.38 crore in January-March quarter of this fiscal as against Rs 254.27 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 11.02 per cent to Rs 234.61 crore from...
Indigo Paints Q4 net profit up 39.14% at Rs 34.59 cr
Indigo Paints Q4 net profit up 39.14% at Rs 34.59 cr
Source: Dion Global Solutions Ltd
20/05/2022 4:48:54 PM
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal Price hikes drive margin recovery; outlook positive Indigo Paints (INDIGOPN) delivered strong double-digit sales growth in 3QFY22, driven by sharp price hikes taken to offset the high RM inflation. Even as sales and gross margins were in line with our expectations, EBITDA margins were better than expected. This was despite the high A&P spends in the quarter on account of the IPL The management is upbeat about the 4Q outlook as traditionally the company has seen the highest salience ...
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
4/03/2022 2:29:21 PM
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal Colorful prospects! Established in the year 2000, Indigo Paints (INDIGOPN) is the fifth largest company operating in the INR542b (USD7.2b) Paints industry in India. Its product portfolio includes emulsions, enamels, wood coatings, distempers, primers, putties, and cement paint. Despite being a late entrant to this industry with high entry barriers, INDIGOPN has been able to create its presence in the market through its multi-pronged strategy of introducing differentiated products, high ad ...
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal
Buy Indigo Paints Ltd For Target Rs. 2,270 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
31/12/2021 10:27:09 AM