Berger Paints logo

Berger Paints

BERGEPAINT NSE

Key Fundamentals

MidcapPaintsConsumer Goods
Market Cap
₹52,698 Cr
Volatility
Moderate
P/E Ratio
43.33
EBITDA
₹1,940 Cr
Return on Equity
16.28%
Debt to Equity
0.09
Book Value
₹59.32
EPS
₹10.01
52W High
₹594.55
52W Low
₹391.1

Tapetide Score

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

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 7.63 times its book value
  • The company has delivered a poor sales growth of 11.8% over past five years.

Growth Rate

Revenue Growth
2.98% lower than 3Y
Net Income Growth
-4.63% lower than 3Y
Cash Flow Change
21.35% higher than 3Y
ROE
-15.12% lower than 3Y
ROCE
-14.65% higher than 3Y
EBITDA Margin (Avg.)
-3.46% higher than 3Y

AI Analysis — Bull vs Bear

5d ago
AI opinion · based on fundamentals
Risk medium

Berger Paints India Ltd has a market capitalisation of about Rs 53,065 crore and trades at a P/E of 43x and a P/B of 7.58x. It has been nearly debt-free and has kept ROE around 20% over 3, 5 and 10 years, but ROE slipped to 17% last year and sales growth has slowed to 4% over 3 years and 5% TTM. The stock has returned -12% over 1 year, -9% CAGR over 3 years and -8% CAGR over 5 years, compared with an 8% CAGR over 10 years.

Bull Case 7
  • The company is almost debt-free, which leaves room for capacity expansion and distributor incentives, and for heavier ad spending as competition picks up, without balance-sheet strain.
  • Return on equity has held steady at 20% over 3 years, 20% over 5 years and 21% over 10 years, which points to lasting brand strength and capital efficiency across economic cycles.
  • Profit has compounded at 10% over 3 years while sales grew only 4%, so margins or operating efficiency have improved even as the top line slowed.
  • Over the long run, sales compounded at 11% and profit at 12% across 10 years, a track record of steady growth in a category tied to housing, repainting and rising urban consumption.
  • The company pays out about 38% of earnings as dividends, with a 0.89% yield, returning cash to shareholders while still funding growth.
  • The P/E of 43x follows 5-year stock returns of -8% CAGR, so valuation has de-rated from past peaks while the business fundamentals stayed largely intact.
  • TTM sales and profit growth are both at 5%, which suggests the business is holding volumes despite heavy new-entrant competition in decorative paints.
Bear Case 7
  • The stock trades at a P/E of 43x and a P/B of 7.58x (7.73x by another measure), a premium that leaves little room for error when TTM profit growth is only 5%.
  • Sales growth has slowed sharply, from 12% over 5 years to 4% over 3 years and 5% TTM, which suggests demand weakness or market-share pressure.
  • Return on equity fell to 17% last year from a 3-year average of 20% and a 10-year average of 21%, a possible early sign of pressure on margins or capital efficiency.
  • The stock has lost ground over 1 year (-12%), 3 years (-9% CAGR) and 5 years (-8% CAGR), well below its 10-year CAGR of 8%, as the market has repriced the sector's growth prospects.
  • Decorative paints now face well-funded new entrants, notably Grasim's Birla Opus and JSW Paints. This raises the risk of price competition, higher dealer incentives and pressure on margins, and it may help explain the 3-year sales CAGR of just 4%.
  • With 3-year profit growth of 10% against sales growth of 4%, recent earnings may have leaned on margin gains, for example from cheaper raw materials, which may not last if crude-linked input costs rise.
  • The dividend yield of 0.89% gives little valuation support or income cushion if earnings growth stays in the mid-single digits.

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

AI News Digest

23h ago
Positives 2
  • Promoter family buys shares Sep 8

    Five promoters (Rishma Kaur, Jessima Kumar, Kanwardip Singh Dhingra, Anshana Sawhney and Sunaina Kohli) bought a combined 98,938 shares in open-market trades on Sep 7, 2026. Kaur bought 24,735 shares, Kumar 24,734, Dhingra 19,788, Sawhney 14,841 and Kohli 14,840. Kaur and Kumar now hold about 0.0638% each, and Sawhney and Kohli about 0.063% each.

  • Hindupur solvent plant goes live Sep 9

    Berger Paints began commercial production at its Hindupur solvent-based paint plant, which has an installed capacity of 36,000 KL/MT. The project cost ₹188 crore in total and adds manufacturing scale.

Neutral 1
  • ₹23.59 crore large trade Sep 21

    About 517,837 shares changed hands on NSE at ₹455.55, worth a combined ₹23.59 crore. This is a real-time signal that hasn't been confirmed, and official block or bulk disclosures come from NSE/BSE after market close.

TL;DR: News flow for Berger Paints is constructive. Coordinated promoter buying on Sep 7 shows insiders are confident, and the ₹188 crore Hindupur plant adds 36,000 KL/MT of solvent-based capacity. These articles flag no direct headwinds, though the promoter stakes are small and the Sep 21 large trade at ₹455.55 doesn't show which way it went. The near-term trend looks steady to improving, and the next things to watch are how fast Hindupur ramps up and how margins hold amid sector competition and crude-linked input costs.

Quarterly Results

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 in Rs
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
Figures in ₹ Crores

Profit & Loss

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
104
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 in Rs
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%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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

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Shareholding Pattern

Others2.49%Promot.74.98%FIIs4.83%Public5.91%DIIs11.79%As ofJun 2026

Documents

Frequently Asked Questions about Berger Paints

What does Berger Paints India Ltd do?
Berger Paints India is engaged in the Manufacturing and selling of Paints.(Source : 201903 Annual Report Page No: 117)
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 market capitalisation of Berger Paints India Ltd?
Berger Paints India Ltd has a market capitalisation of ₹52,698 Cr, which places it in the Large Cap band.
What is the PE ratio of Berger Paints India Ltd?
Berger Paints India Ltd trades at a PE ratio of 43.33, on earnings per share of ₹10.01, 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.
Does Berger Paints India Ltd pay dividends?
Berger Paints India Ltd has a dividend yield of 0.88%.
What is the Return on Equity (ROE) of Berger Paints India Ltd?
Berger Paints India Ltd reported a return on equity of 16.28%. Its debt-to-equity ratio is 0.09.

Company Information

Berger Paints India is engaged in the Manufacturing and selling of Paints.(Source : 201903 Annual Report Page No: 117)

Website bergerpaints.com
CEO Mr. Abhijit Roy
Employees 4,760
Listed 1999-11-24
Face Value ₹ 1
Issued Size 1,16,59,27,190

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