Berger Paints India Ltd
Berger Paints India is engaged in the Manufacturing and selling of Paints.(Source : 201903 Annual Report Page No: 117)
- Market Cap ₹ 47,548 Cr.
- Current Price ₹ 408
- High / Low ₹ 605 / 404
- Stock P/E 42.4
- Book Value ₹ 53.9
- Dividend Yield 0.93 %
- ROCE 24.9 %
- ROE 20.3 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 36.2%
Cons
- Stock is trading at 7.57 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Paints
Part of BSE 500 BSE Consumer Durables BSE 200 BSE Dollex 200 Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,732 | 4,170 | 4,223 | 4,552 | 5,166 | 6,062 | 6,366 | 6,818 | 8,762 | 10,568 | 11,199 | 11,545 | 11,716 | |
| 3,300 | 3,659 | 3,578 | 3,833 | 4,359 | 5,127 | 5,313 | 5,635 | 7,431 | 9,090 | 9,338 | 9,688 | 9,937 | |
| Operating Profit | 431 | 511 | 645 | 719 | 807 | 935 | 1,053 | 1,182 | 1,331 | 1,478 | 1,861 | 1,856 | 1,779 |
| OPM % | 12% | 12% | 15% | 16% | 16% | 15% | 17% | 17% | 15% | 14% | 17% | 16% | 15% |
| 36 | 36 | 40 | 108 | 46 | 60 | 69 | 51 | 68 | 48 | 105 | 129 | 61 | |
| Interest | 47 | 50 | 27 | 16 | 25 | 47 | 47 | 44 | 51 | 99 | 78 | 63 | 61 |
| Depreciation | 71 | 92 | 99 | 108 | 124 | 182 | 191 | 211 | 227 | 264 | 331 | 354 | 380 |
| Profit before tax | 350 | 404 | 559 | 703 | 705 | 765 | 883 | 979 | 1,122 | 1,162 | 1,557 | 1,568 | 1,400 |
| Tax % | 29% | 34% | 34% | 33% | 35% | 35% | 26% | 26% | 26% | 26% | 25% | 25% | |
| 249 | 265 | 371 | 474 | 461 | 494 | 656 | 720 | 833 | 860 | 1,170 | 1,183 | 1,056 | |
| EPS in Rs | 2.14 | 2.27 | 3.18 | 4.07 | 3.95 | 4.24 | 5.64 | 6.17 | 7.14 | 7.37 | 10.02 | 10.12 | 9.05 |
| Dividend Payout % | 31% | 33% | 31% | 36% | 38% | 37% | 32% | 38% | 36% | 36% | 35% | 38% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 13% |
| 3 Years: | 10% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 13% |
| 3 Years: | 12% |
| TTM: | -2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | -7% |
| 3 Years: | -6% |
| 1 Year: | -16% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 22% |
| 3 Years: | 21% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 69 | 69 | 69 | 97 | 97 | 97 | 97 | 97 | 97 | 97 | 117 | 117 | 117 |
| Reserves | 1,051 | 1,191 | 1,493 | 1,804 | 2,097 | 2,347 | 2,563 | 3,280 | 3,830 | 4,397 | 5,262 | 6,038 | 6,163 |
| 624 | 610 | 354 | 406 | 422 | 753 | 767 | 634 | 1,014 | 1,189 | 753 | 670 | 697 | |
| 851 | 846 | 960 | 1,132 | 1,326 | 1,360 | 1,472 | 1,907 | 2,271 | 2,283 | 2,236 | 2,300 | 2,480 | |
| Total Liabilities | 2,595 | 2,716 | 2,877 | 3,440 | 3,943 | 4,557 | 4,900 | 5,918 | 7,211 | 7,966 | 8,368 | 9,125 | 9,457 |
| 864 | 931 | 963 | 1,136 | 1,267 | 1,583 | 1,916 | 2,044 | 2,187 | 3,332 | 3,500 | 3,677 | 3,743 | |
| CWIP | 133 | 100 | 51 | 62 | 97 | 170 | 178 | 107 | 606 | 111 | 189 | 125 | 216 |
| Investments | 91 | 134 | 348 | 472 | 333 | 395 | 315 | 356 | 234 | 183 | 255 | 533 | 560 |
| 1,507 | 1,550 | 1,515 | 1,769 | 2,245 | 2,409 | 2,490 | 3,411 | 4,185 | 4,341 | 4,424 | 4,790 | 4,938 | |
| Total Assets | 2,595 | 2,716 | 2,877 | 3,440 | 3,943 | 4,557 | 4,900 | 5,918 | 7,211 | 7,966 | 8,368 | 9,125 | 9,457 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 310 | 414 | 595 | 394 | 422 | 611 | 725 | 796 | 566 | 976 | 1,591 | 1,269 | |
| -301 | -184 | -259 | -308 | -183 | -379 | -223 | -457 | -521 | -600 | -398 | -650 | |
| -52 | -198 | -368 | -82 | -200 | -259 | -479 | -282 | -78 | -363 | -1,069 | -606 | |
| Net Cash Flow | -43 | 32 | -32 | 4 | 38 | -27 | 22 | 57 | -33 | 13 | 124 | 14 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 48 | 47 | 47 | 46 | 49 | 40 | 41 | 55 | 44 | 43 | 42 | 49 |
| Inventory Days | 122 | 104 | 108 | 153 | 140 | 138 | 142 | 174 | 178 | 142 | 134 | 143 |
| Days Payable | 95 | 81 | 99 | 124 | 133 | 112 | 118 | 161 | 139 | 108 | 103 | 105 |
| Cash Conversion Cycle | 74 | 70 | 56 | 75 | 56 | 67 | 65 | 67 | 83 | 77 | 73 | 86 |
| Working Capital Days | 2 | 17 | 26 | 33 | 37 | 31 | 28 | 43 | 34 | 31 | 46 | 53 |
| ROCE % | 24% | 25% | 30% | 31% | 29% | 27% | 28% | 27% | 26% | 24% | 28% | 25% |
Insights
In beta| Mar 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Number of Depots/Sales Offices Number ・Includes some standalone data |
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| Number of Manufacturing Plants Number |
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| Tinting Machine (Color Bank) Network Number ・Includes some standalone data |
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| Production Volume KL / MT ・Standalone data |
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| Standalone Volume Growth % ・Standalone data |
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| Total Manufacturing Capacity MTPA |
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| Production Volume KL ・Standalone data |
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| Total Manufacturing Capacity KL / MTPA |
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Documents
Announcements
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General Updates - ESG Rating Disclosure
6 Mar - ESG Risk Assessments assigned Berger Paints ESG score 63 from 2025 disclosures; received 6 March 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Feb
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
13 Feb - Berger Paints MD Abhijit Roy to meet HDFC AMC on 20 Feb 2026 at 9:30 IST; no UPSI shared.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
10 Feb - Transcript of Results FY26 Q3 Earnings Conference call held on 5th February, 2026.
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Updates - Link Of Analyst Recording
6 Feb - Audio recording of investor presentation for quarter and nine months ended 31 Dec 2025 available on company website.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2012
from nse
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025Transcript PPT
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May 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Mar 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021Transcript PPT
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Jun 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Aug 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Jun 2019TranscriptAI SummaryPPT
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Feb 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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Jun 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Aug 2017TranscriptAI SummaryPPT
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Jun 2017TranscriptAI SummaryPPT
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Feb 2017TranscriptAI SummaryPPT
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Nov 2016TranscriptAI SummaryPPT
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Aug 2016TranscriptAI SummaryPPT
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Jun 2016TranscriptAI SummaryPPT
Market Position
Berger Paints is the 2nd Largest paint company in India, the 4th Largest paint company in Asia, and the 7th Largest decorative paint company in the world. [1]