Indigo Paints Latest Updates

Q3 FY26 Financial Performance For the quarter ended December 31, 2025 (reported in February 2026), Indigo Paints recorded a 4.7% year-on-year (YoY) increase in consolidated revenue, reaching ₹358.8 crore. While October saw a temporary slowdown due to a delayed monsoon and an early Diwali, the company reported strong double-digit growth in November and December. Profitability improved significantly, with EBITDA rising 19.5% YoY to ₹68.3 crore and the EBITDA margin expanding to 19.4% from 17.5% the previous year. Capacity Expansion & Infrastructure The company has reached major manufacturing milestones at its Jodhpur, Rajasthan facility. Production at the new 12,000 KLPA solvent-based paint plant commenced in February 2026. Additionally, a new 90,000 KLPA water-based paint plant is on track to become operational by June 2026. The company is also doubling its powder-based plant capacity from 1,38,000 MTPA to 2,76,000 MTPA, with the expansion scheduled for completion by early 2026 using internal accruals of approximately ₹15 crore. Operational Network & Market Focus Indigo Paints continues to expand its footprint, reaching a count of 19,134 active dealers and 11,913 active tinting machines as of late 2025. A new depot was recently opened in Uttar Pradesh to enhance service efficiency. The company is pivoting its marketing strategy by reducing Advertisement & Promotion (A&P) expenses as a percentage of revenue (down to 5.9% from 7.0%) while increasing focus on Below-The-Line (BTL) activities to drive sales of premium products and engage more closely with painters and contractors.