Berger Paints India Limited (IN:BERGEPAINT)
:BERGEPAINT
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Berger Paints India Limited
(BERGEPAINT)
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Rating:72Outperform
Price Target:
₹563.00
▲(6.56% Upside)
Action:Upgraded
Date:05/14/26
The score is driven primarily by solid financial quality (healthy profitability and a strong, low-leverage balance sheet), supported by improving near-term technical momentum. These positives are tempered by a stretched valuation (high P/E and low dividend yield) and some fundamental watch items (slower recent growth, margin pressure, and historically uneven cash conversion).
Positive Factors
Conservative balance sheet
A low-leverage, steadily growing equity base gives Berger durable financial flexibility to fund capex, absorb cyclical downcycles and pursue strategic investments. This reduces default risk and supports long-term competitiveness in capital-intensive coating manufacturing and distribution.
Negative Factors
Slowing revenue growth
A slowdown to low-single-digit top-line growth constrains operating-leverage benefits and may limit earnings expansion absent margin recovery or share gains. Persistent muted demand growth increases dependence on mix improvements and cost control to sustain return profiles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A low-leverage, steadily growing equity base gives Berger durable financial flexibility to fund capex, absorb cyclical downcycles and pursue strategic investments. This reduces default risk and supports long-term competitiveness in capital-intensive coating manufacturing and distribution.
Read all positive factors
Berger Paints India Limited (BERGEPAINT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹592.39B
Dividend Yield0.7%
Average Volume (3M)16.36K
Price to Earnings (P/E)42.4
Beta (1Y)0.87
Revenue Growth2.91%
EPS Growth-4.56%
CountryIN
Employees4,445
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)9.35
Shares Outstanding1,166,002,800
10 Day Avg. Volume14,760
30 Day Avg. Volume16,358
Financial Highlights & Ratios
PEG Ratio-9.34
Price to Book (P/B)6.91
Price to Sales (P/S)4.02
P/FCF Ratio45.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)11.05
Revenue Forecast (FY)₹133.10B
Berger Paints India Limited Business Overview & Revenue Model
Company Description
Berger Paints India Limited manufactures and sells paints for home, professional, and industrial users in India and internationally. The company offers interior wall coatings, including designer finishes, interior emulsions, ceiling paints, and di...
How the Company Makes Money
Berger Paints makes money primarily by manufacturing and selling paints and coatings, with revenue largely driven by (1) decorative paints and home-improvement coatings sold to retail customers and institutional buyers, and (2) industrial/protecti...
Berger Paints India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 117.07B | 118.80B | 115.45B | 111.99B | 105.68B | 87.62B |
| Gross Profit | 43.89B | 37.48B | 46.20B | 43.89B | 37.05B | 32.21B |
| EBITDA | 16.10B | 18.33B | 15.23B | 15.51B | 14.37B | 12.86B |
| Net Income | 10.78B | 11.27B | 11.80B | 11.68B | 8.59B | 8.33B |
Balance Sheet | ||||||
| Total Assets | 94.57B | 100.57B | 91.32B | 83.69B | 79.67B | 72.13B |
| Cash, Cash Equivalents and Short-Term Investments | 7.89B | 12.59B | 8.34B | 5.56B | 2.93B | 3.95B |
| Total Debt | 6.97B | 6.35B | 6.70B | 7.53B | 11.89B | 10.14B |
| Total Liabilities | 31.65B | 31.27B | 29.65B | 29.79B | 34.65B | 32.78B |
| Stockholders Equity | 62.79B | 69.16B | 61.54B | 53.79B | 44.94B | 39.27B |
Cash Flow | ||||||
| Free Cash Flow | 4.56B | 10.47B | 8.40B | 13.16B | 2.28B | -2.08B |
| Operating Cash Flow | 6.47B | 15.65B | 12.69B | 15.91B | 9.76B | 5.67B |
| Investing Cash Flow | -1.69B | -10.12B | -6.50B | -3.98B | -6.00B | -5.21B |
| Financing Cash Flow | -5.03B | -6.01B | -6.06B | -10.69B | -3.63B | -781.30M |
Berger Paints India Limited Technical Analysis
Positive
528.35
Price Trends
457.15
Positive
474.60
Positive
510.19
Negative
Market Momentum
15.34
Positive
54.84
Neutral
42.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BERGEPAINT, the sentiment is Positive. The current price of 528.35 is above the 20-day moving average (MA) of 490.21, above the 50-day MA of 457.15, and above the 200-day MA of 510.19, indicating a neutral trend. The MACD of 15.34 indicates Positive momentum. The RSI at 54.84 is Neutral, neither overbought nor oversold. The STOCH value of 42.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BERGEPAINT.
Berger Paints India Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹592.39B | 42.40 | ― | 0.70% | 2.91% | -4.56% | |
69 Neutral | ₹173.50B | 22.94 | ― | 1.11% | 2.93% | -48.42% | |
65 Neutral | ₹46.84B | 37.48 | ― | 0.30% | 2.19% | 4.12% | |
64 Neutral | ₹133.36B | 6.56 | ― | 3.04% | -11.49% | 359.56% | |
63 Neutral | ₹2.49T | 62.63 | ― | 0.89% | 1.22% | -9.12% | |
62 Neutral | ₹23.90B | 34.51 | ― | 0.30% | 31.68% | 30.03% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
IN:BERGEPAINT
Berger Paints India Limited
499.35
-63.57
-11.29%
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IN:ASIANPAINT
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989.60
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IN:KANSAINER
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217.90
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-15.51%
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Sirca Paints India Ltd.
420.95
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39.04%
Berger Paints India Limited Corporate Events
Berger Paints Posts Q4 FY26 Investor Call Recording Online
May 12, 2026
Berger Paints India Limited has informed stock exchanges that an audio recording of its investor presentation on the company’s financial results for the fourth quarter of FY 2025-26 is now available on its website. The disclosure, made in co...
Berger Paints clears FY26 results, dividend and extends CEO tenure
May 12, 2026
Berger Paints India Limited’s board has approved the audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026, with the statutory auditors issuing an unmodified opinion, underscoring confidence...
Berger Paints Confirms SEBI Dematerialisation Compliance for March 2026 Quarter
Apr 6, 2026
Berger Paints India Limited has notified stock exchanges that it has received a compliance certificate from its registrar and transfer agent, C B Management Services Pvt. Ltd., for the quarter ended 31 March 2026 under Regulation 74(5) of the SEBI...
Berger Paints Alerts Shareholders to Special Window for Demat of Physical Securities
Feb 25, 2026
Berger Paints India Limited has notified stock exchanges that it has published a newspaper notice informing shareholders about a special window for re-lodgement for transfer and dematerialisation of physical securities, in line with a recent SEBI ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.