The Quarter story
The two most recent quarterly results, compared side-by-side.
Indigo Paints shows strong channel growth and marketing efficiency, with resilient profits despite seasonal revenue swings and recent cost pressures.
A&P spend as a share of revenue fell from 6.78% in Q1 FY26 to 4.3% in Q1 FY27, reflecting better marketing efficiency.
Gross margin eased from 48.0% in Q4 FY26 to 44.6% in Q1 FY27, pointing to rising input costs.
Active dealers grew from 18,556 in Q1 FY26 to 19,382 in Q1 FY27, confirming steady channel expansion.
Consolidated revenue corrected from a peak of ₹593.4 Cr in Q2 FY26 to ₹350.0 Cr in Q1 FY27, reflecting seasonal demand cycles.
Active tinting outlets rose from 11,301 in Q1 FY26 to 12,395 in Q1 FY27, indicating a wider service network.
State presence remained flat at 28 from Q1 FY26 to Q4 FY26, signaling a mature geographic footprint.
PAT margin rose from 8.8% in Q1 FY26 to 11.8% in Q1 FY27, showing resilient earnings despite seasonal swings.
Manufacturing plants expanded from 5 in Q1 FY26 to 6 in Q4 FY26, adding capacity to support volume growth.
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