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Indigo Paints
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Indigo Paints Limited was originally incorporated as Private Limited Company with the name Indigo Paints Private Limited' at Pune, Maharashtra on March 28, 2000. Subsequently, the Company was converted into a Public Limited Company and consequently, name of the Company was changed to Indigo Paints Limited' on August 20, 2020. The Company is engaged in manufacture and sale of decorative paints. Indigo Paints, founded in the year 2000, stands as a prominent paint company in India, recognised for its progressive and distinct product strategy. With its headquarters situated in Pune, Maharashtra, the Company commenced its operations as a modest producer of economical cement paints. However, over time, it underwent a transformation, expanding its portfolio to encompass a diverse assortment of decorative paints. Additionally, it operates three manufacturing facilities strategically located in Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu). It has an active dealership network of 16,496 and presently has 3 manufacturing units, spread across 28 states. The Company manufactures complete range of decorative paints including Emulsions, Enamels, Wood Coatings, Distemper, Primers, Putties and Cement Paints.
The Company identify potential product needs from customers and introduce differentiated products to meet these requirements, and create a distinct market for its products. For instance, the company is the first company to manufacture and introduce certain differentiated products in the decorative paint market in India, which includes its Metallic Emulsions, Tile Coat Emulsions, Bright Ceiling Coat Emulsions, Floor Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel (together, 'Indigo Differentiated Products'). These products are differentiated based on the end-use they cater to, as well as added properties that they possess. As the first company in India to develop these products, the company has had an early mover advantage in the markets it is present in, which has allowed it to realize relatively higher margins for these products compared to the rest of its product portfolio.
During year 2021, 8 new depots were opened in different parts of the country and over 2,000 net active dealers were added to strengthen product reach. It also added over 1,100 tinting machines, a special equipment to mix and match colours and produce the consumer's desired shade, across the dealer stores. In FY'21, the Company doubled the production capacity for powder paints such as putties, with the expansion of its existing plant in Jodhpur in FY21. As of March 31, 2021, Indigo had installed 5,472 tinting machines across India. It raised Rs. 1,170 Crore through maiden public issue which got listed on February 2, 2021 on the Stock Exchange.
As on March 31, 2022, the Company had 7,101 tinting machines in its dealer network, with a Tinting Machine penetration ration of 43%. It had raised Rs. 1,170 Crore through IPO during FY 2020-21. Out of the proceeds, Company received Rs. 28,711.21 lakh for funding capital expenditure for expansion of existing manufacturing facility at Pudukkottai, Tamil Nadu by setting up an additional unit adjacent to the existing facility; purchase of tinting machines and gyroshakers and repayment of part borrowings.
During the year 2021-22, the Company has increased number of active dealers to 15,787. Additionally, it also increased the population of tinting machines to 7,101 in FY 2022. It opened an additional depot in Karnataka and opened a depot each in Delhi & Himachal Pradesh.
The Company acquired 51% Equity shares in the subsidiary company Apple Chemie India Private Limited on April 03, 2023. It launched 23 products during FY 2022-23.
Indigo Paints share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Indigo Paints indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Indigo Paints is valued compared to its competitors.
Indigo Paints PE ratio helps investors understand what is the market value of each stock compared to Indigo Paints 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Indigo Paints evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Indigo Paints generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Indigo Paints in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Indigo Paints shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Indigo Paints compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Indigo Paints over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Indigo Paints helps investors get an insight into when they can enter or exit the stock. Key components of Indigo Paints Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Indigo Paints shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Indigo Paints ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Indigo Paints provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Indigo Paints highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Indigo Paints .
The balance sheet presents a snapshot of Indigo Paints ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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