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Berger Paints India

BERGEPAINT NSE
₹485.10 +5.40 (+1.13%)
P/E
46.47
View as Markdown
MCP
Close 4 Nov 2026 ₹485.10 −59.35 −10.9% 1Y
Start ₹544.45

Key Fundamentals

MidcapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
21.60%
Debt to Equity
0.09
EPS (TTM)
₹10.44
Book Value
₹59.32
Market Cap
—
P/E (TTM)
46.47
P/B
8.18
ROE
17.30%
Dividend Yield
0.83%
EBITDA
₹1,940 Cr
52W High
₹594.55
52W Low
₹391.10
Day Range
₹477.00 – ₹486.90
Volume
2,76,934

Peer Comparison

Consumer Discretionary › Consumer Goods › Paints

Berger Paints peer comparison
Asian Paints
₹2,418.3047.93₹2,32,001 Cr10.670.24%21.80%26.30%₹38,632 Cr₹4,903 Cr
Berger Paints (this company)
₹485.1046.47₹55,927 Cr8.180.83%17.30%21.60%₹12,263 Cr₹1,217 Cr
Kansai Nerolac Paints
₹195.3226.32₹15,207 Cr2.351.34%8.82%12.00%₹8,263 Cr₹588 Cr
JSW Dulux
₹263.70—₹11,895 Cr4.9079.15%19.30%23.00%₹3,578 Cr₹1,963 Cr
Indigo Paints
₹859.8525.40₹4,116 Cr3.470.58%13.40%17.90%₹1,385 Cr₹161 Cr
Sirca Paints
₹408.6534.60₹2,345 Cr4.880.49%15.80%20.30%₹508 Cr₹67 Cr
Shalimar Paints
₹78.28—₹665 Cr7.200.00%−21.40%−7.93%₹559 Cr−₹69 Cr
Median 7 companies₹408.6534.60₹11,895 Cr4.900.58%15.80%20.30%₹3,578 Cr₹588 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 100/100

Category scores

Quality
66
Good
Returns, margins, earnings quality 22% weight
Valuation
59
Good
Cheap vs sector & own history 24% weight
Growth
20
Poor
Sales & profit trajectory 9% weight
Financial Health
76
Strong
Solvency, leverage, coverage 9% weight
Momentum
32
Poor
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 38.0%

Weaknesses

2
  • Stock is trading at 7.73 times its book value
  • The company has delivered a poor sales growth of 11.8% over past five years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4510
OscillatorsNeutral252
Moving AveragesStrong Bullish208

Key readings

RSI (14)
61.69
Neutral
MACD (12,26,9)
1.00
Bullish
SMA (50)
471.09
Bullish
SMA (200)
482.79
Bullish

As of

Analyst Rating

Based on 21 analysts
BUY48%

10 of 21 analysts rate Buy, 6 Hold, 5 Sell.

As of

BUY
10
48%
HOLD
6
29%
SELL
5
24%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.90%
5Y+11.75%
3Y+3.98%
1Y+2.90%
TTM+5.22%

Net profit

Net profit growth by window
10Y+11.76%
5Y+9.39%
3Y+9.46%
1Y−4.65%
TTM+6.38%

Operating cash flow

Operating cash flow growth by window
10Y+9.98%
5Y+14.11%
3Y+16.42%
1Y+21.36%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+0.16 pp
5Y−1.91 pp
3Y+1.44 pp
1Y−0.65 pp
TTM−0.39 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹4,552 Cr
Mar 2018₹5,166 Cr
Mar 2019₹6,062 Cr
Mar 2020₹6,366 Cr
Mar 2021₹6,818 Cr
Mar 2022₹8,762 Cr
Mar 2023₹10,568 Cr
Mar 2024₹11,199 Cr
Mar 2025₹11,545 Cr
Mar 2026₹11,880 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹474 Cr
Mar 2018₹461 Cr
Mar 2019₹494 Cr
Mar 2020₹656 Cr
Mar 2021₹720 Cr
Mar 2022₹833 Cr
Mar 2023₹860 Cr
Mar 2024₹1,170 Cr
Mar 2025₹1,183 Cr
Mar 2026₹1,128 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹426 Cr −35.3% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk medium

Berger Paints India Ltd trades at ₹465.1 as of 2026-10-30 with a market cap of ₹54,219 crore, a trailing PE of 44.55 and ROE of 16.28%. The stock sits roughly 22% below its 52-week high of ₹594.55 while maintaining a near debt-free balance sheet with a debt-to-equity ratio of 0.09.

Bull Case 8
  • The company is virtually debt-free with a debt-to-equity ratio of just 0.09, providing significant financial flexibility and low interest-cost burden.
  • ROCE stands at 20.63%, indicating efficient deployment of capital across the business.
  • Compounded profit growth over a 10-year period is 12%, demonstrating consistent long-term earnings expansion.
  • The company has maintained a healthy dividend payout ratio of 38.0%, returning meaningful cash to shareholders while retaining enough for growth.
  • 10-year compounded sales growth of 11% reflects a durable track record of revenue expansion across economic cycles.
  • 5-year compounded sales growth of 12% shows the company sustained above-average top-line momentum over a medium-term horizon.
  • 5-year average ROE of 20% signals consistently high returns on shareholder equity over an extended period.
  • The stock is trading about 22% below its 52-week high of ₹594.55, offering a more moderate entry valuation than its recent peak.
Bear Case 7
  • The trailing PE of 44.55 is elevated, implying the market is pricing in significant future growth that must be delivered to justify the valuation.
  • TTM profit growth has decelerated to 5%, down sharply from the 10-year compounded rate of 12%.
  • TTM sales growth of 5% represents a notable slowdown from the 5-year compounded rate of 12%, suggesting near-term demand headwinds.
  • The stock has delivered a negative 1-year return of -14%, underperforming broader market trends.
  • 3-year stock CAGR is -7%, indicating sustained price weakness over a meaningful medium-term window.
  • Last-year ROE of 17% has dipped below the 5-year average of 20%, pointing to a possible compression in return profile.
  • Dividend yield of 0.86% is modest and provides limited income cushion against further price declines.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Limited recent news flow for Berger Paints. The only development is a routine board-level appointment of two directors through postal ballot, which is a standard governance action with no material impact on operations or financials. Watch for upcoming quarterly results and demand trends in the decorative paints segment for directional cues.

Neutral 1
  • Two new directors appointed Oct 7

    Shareholders approved via postal ballot the appointment of Navjeet Singh Sobti as Independent Director and Amardeep Jain as Whole-time Director, both for five-year terms ending August 2031.

Quarterly Results

₹ Cr
BERGEPAINT quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,030
2,767
2,882
2,520
3,091
2,775
2,975
2,704
3,201
2,827
2,984
2,868
3,584
Expenses
2,473
2,294
2,402
2,169
2,569
2,340
2,503
2,276
2,672
2,475
2,513
2,386
2,976
Operating Profit
557
474
480
351
522
434
472
428
528
352
471
482
607
OPM %
18%
17%
17%
14%
17%
16%
16%
16%
17%
12%
16%
17%
17%
Other Income
17
19
20
48
46
30
27
26
3
37
−5
69
51
Interest
20
21
20
18
15
17
16
15
14
17
14
12
12
Depreciation
78
83
83
87
87
89
89
89
94
97
100
101
103
PBT
476
389
398
294
466
358
394
350
423
275
352
438
543
Tax %
25%
25%
25%
24%
24%
25%
25%
25%
25%
25%
23%
24%
25%
Net Profit
355
292
300
223
354
270
296
263
315
206
271
335
405
EPS (₹)
3.04
2.5
2.57
1.91
3.03
2.31
2.53
2.25
2.7
1.77
2.33
2.87
3.47

Profit & Loss

₹ Cr
BERGEPAINT profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,170
4,223
4,552
5,166
6,062
6,366
6,818
8,762
10,568
11,199
11,545
11,880
12,263
Expenses
3,659
3,578
3,833
4,359
5,127
5,313
5,635
7,431
9,090
9,338
9,688
10,047
10,351
Operating Profit
511
645
719
807
935
1,053
1,182
1,331
1,478
1,861
1,856
1,833
1,912
OPM %
12%
15%
16%
16%
15%
17%
17%
15%
14%
17%
16%
15%
16%
Other Income
36
40
108
46
60
69
51
68
48
105
129
107
152
Interest
50
27
16
25
47
47
44
51
99
78
63
58
56
Depreciation
92
99
108
124
182
191
211
227
264
331
354
392
401
PBT
404
559
703
705
765
883
979
1,122
1,162
1,557
1,568
1,488
1,608
Tax %
34%
34%
33%
35%
35%
26%
26%
26%
26%
25%
25%
24%
—
Net Profit
265
371
474
461
494
656
720
833
860
1,170
1,183
1,128
1,218
EPS (₹)
2.27
3.18
4.07
3.95
4.24
5.64
6.17
7.14
7.37
10.02
10.12
9.66
10.44
Div. Payout %
33%
31%
36%
38%
37%
32%
38%
36%
36%
35%
38%
41%
—

Balance Sheet

₹ Cr
BERGEPAINT balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
69
69
97
97
97
97
97
97
97
117
117
117
Reserves
1,191
1,493
1,804
2,097
2,347
2,563
3,280
3,830
4,397
5,262
6,038
6,800
Borrowings
610
354
406
422
753
767
634
1,014
1,189
753
670
635
Other Liabilities
846
960
1,132
1,326
1,360
1,472
1,907
2,271
2,283
2,236
2,300
2,484
Total Liabilities
2,716
2,877
3,440
3,943
4,557
4,900
5,918
7,211
7,966
8,368
9,125
10,035
Fixed Assets
931
963
1,136
1,267
1,583
1,916
2,044
2,187
3,332
3,500
3,677
3,841
CWIP
100
51
62
97
170
178
107
606
111
189
125
316
Investments
134
348
472
333
395
315
356
234
183
255
533
1,189
Other Assets
1,550
1,515
1,769
2,245
2,409
2,490
3,411
4,185
4,341
4,424
4,790
4,689
Total Assets
2,716
2,877
3,440
3,943
4,557
4,900
5,918
7,211
7,966
8,368
9,125
10,035

Cash Flow

₹ Cr
BERGEPAINT cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
414
595
394
422
611
725
796
566
976
1,591
1,269
1,540
Investing
−184
−259
−308
−183
−379
−223
−457
−521
−600
−398
−650
−974
Financing
−198
−368
−82
−200
−259
−479
−282
−78
−363
−1,069
−606
−613
Net Cash Flow
32
−32
4
38
−27
22
57
−33
13
124
14
−47
Free Cash Flow
254
477
130
132
320
294
611
−193
232
1,321
845
1,037
CFO/OP
105
120
85
87
91
94
89
65
87
104
89
102

Ratios

BERGEPAINT financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
47
47
46
49
40
41
55
44
43
42
49
48
Inventory Days
104
108
153
140
138
142
174
178
142
134
143
144
Days Payable
81
99
124
133
112
118
161
139
108
103
105
105
Cash Conversion Cycle
70
56
75
56
67
65
67
83
77
73
86
87
Working Capital Days
17
26
33
37
31
28
43
34
31
46
53
49
ROCE %
25%
30%
31%
29%
27%
28%
27%
26%
24%
28%
25%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Berger Paints insights

67 extracted metrics across FY01–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.99%
  • DIIs 11.69%
  • Public 5.91%
  • FIIs 4.96%
  • Others 2.46%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Berger Paints India

What does Berger Paints India Ltd do?
Berger Paints India is engaged in the Manufacturing and selling of Paints.
Where is Berger Paints India Ltd (BERGEPAINT) listed?
Berger Paints India Ltd trades as BERGEPAINT on the NSE and under code 509480 on the BSE.
Which sector does Berger Paints India Ltd belong to?
Berger Paints India Ltd is classified under the Consumer Goods sector, in the Paints industry.
What is the PE ratio of Berger Paints India Ltd?
Berger Paints India Ltd trades at a PE ratio of 46.47 as of 4 Nov 2026, on earnings per share of ₹10.44, against a book value of ₹59.32 per share.
What is the 52-week high and low of Berger Paints India Ltd?
Over the last 52 weeks Berger Paints India Ltd has traded between ₹391.1 and ₹594.55 as of 4 Nov 2026.
Does Berger Paints India Ltd pay dividends?
Berger Paints India Ltd has a dividend yield of 0.83%.
What is the Return on Equity (ROE) of Berger Paints India Ltd?
Berger Paints India Ltd reported a return on equity of 17.30%. Its debt-to-equity ratio is 0.09.

Company Information

Berger Paints India is engaged in the Manufacturing and selling of Paints.

Website bergerpaints.com
CEO Mr. Abhijit Roy
Employees 4,760
Listed 24 Nov 1999
Face Value ₹1

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