BERGEPAINT

Berger Paints (I) Limited

Decorative paints, industrial coatings, automotive coatings and construction chemicals

Consumer Discretionary›Consumer Durables›Consumer Durables›Paints

bergerpaints.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹473.95
Market cap
55,227 Cr
Stock P/E
45.4
P/B
7.99
Dividend yield
0.8%
ROE (FY26)
16.3%
ROCE (FY26)
20.4%
Operating margin (FY26)
12.1%
Debt / equity (FY26)
0.09
OCF / EBITDA (FY26)
84.0%
OCF / EBITDA (3Y)
79.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Berger Paints (Berger) makes and sells paints and coatings in India, covering decorative paints, construction chemicals and waterproofing, wood coatings, automotive coatings and industrial coatings, sold through a network of dealers and stores.

Company snapshot

2ndBy market cap

Ranked among 8 companies in Paints.

What we see

Positives
  • ✓Debt-to-equity of 0.09x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,767 Cr2,882 Cr2,520 Cr3,091 Cr2,775 Cr2,975 Cr2,704 Cr3,201 Cr2,827 Cr2,984 Cr2,868 Cr3,584 Cr
Operating expenses (approx.)2,294 Cr2,402 Cr2,169 Cr2,569 Cr2,340 Cr2,503 Cr2,276 Cr2,672 Cr2,475 Cr2,513 Cr2,386 Cr2,976 Cr
EBITDA474 Cr480 Cr351 Cr522 Cr434 Cr472 Cr428 Cr528 Cr352 Cr471 Cr482 Cr607 Cr
OPM %17.1%16.7%13.9%16.9%15.6%15.9%15.8%16.5%12.5%15.8%16.8%16.9%
Other income15 Cr19 Cr16 Cr36 Cr21 Cr20 Cr17 Cr28 Cr26 Cr31 Cr22 Cr39 Cr
Interest21 Cr20 Cr18 Cr15 Cr17 Cr16 Cr15 Cr14 Cr17 Cr14 Cr12 Cr12 Cr
Depreciation83 Cr83 Cr87 Cr87 Cr89 Cr89 Cr89 Cr94 Cr97 Cr100 Cr101 Cr103 Cr
Profit before tax389 Cr398 Cr294 Cr466 Cr358 Cr394 Cr350 Cr423 Cr275 Cr352 Cr438 Cr543 Cr
Tax %24.9%24.6%24.3%24.0%24.6%25.0%24.9%25.5%24.8%23.0%23.5%25.4%
Net profit292 Cr300 Cr223 Cr354 Cr270 Cr296 Cr263 Cr315 Cr206 Cr271 Cr335 Cr405 Cr
EPS (₹)₹2.50₹2.57₹1.91₹3.03₹2.31₹2.53₹2.25₹2.70₹1.77₹2.33₹2.87₹3.47

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,050 Cr5,282 Cr6,062 Cr6,366 Cr6,818 Cr8,762 Cr10,568 Cr11,199 Cr11,545 Cr11,880 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,332 Cr4,475 Cr5,180 Cr5,305 Cr5,630 Cr7,431 Cr9,081 Cr9,338 Cr9,689 Cr10,047 CrSign in free for the trailing twelve months
EBITDA719 Cr807 Cr882 Cr1,061 Cr1,188 Cr1,331 Cr1,487 Cr1,861 Cr1,856 Cr1,833 CrSign in free for the trailing twelve months
OPM %14.2%15.3%14.5%16.7%17.4%15.2%14.1%16.6%16.1%15.4%Sign in free for the trailing twelve months
Other income55 Cr46 Cr60 Cr69 Cr51 Cr65 Cr52 Cr64 Cr95 Cr107 CrSign in free for the trailing twelve months
Interest16 Cr25 Cr32 Cr47 Cr44 Cr51 Cr99 Cr78 Cr63 Cr58 CrSign in free for the trailing twelve months
Depreciation108 Cr124 Cr138 Cr191 Cr211 Cr227 Cr264 Cr331 Cr354 Cr392 CrSign in free for the trailing twelve months
Profit before tax703 Cr705 Cr771 Cr883 Cr979 Cr1,122 Cr1,162 Cr1,557 Cr1,568 Cr1,488 CrSign in free for the trailing twelve months
Tax %32.6%34.6%35.4%25.7%26.5%25.8%26.0%24.9%24.6%24.2%Sign in free for the trailing twelve months
Net profit474 Cr461 Cr497 Cr656 Cr720 Cr833 Cr860 Cr1,170 Cr1,183 Cr1,128 CrSign in free for the trailing twelve months
EPS (₹)₹4.88₹4.75₹5.13₹6.76₹7.41₹8.58₹8.86₹10.02₹10.13₹9.67Sign in free for the trailing twelve months
Dividend payout %————4.0%32.7%35.0%26.6%34.5%39.3%Sign in free for the trailing twelve months
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The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital97 Cr97 Cr97 Cr97 Cr97 Cr97 Cr97 Cr117 Cr117 Cr117 Cr
Reserves1,804 Cr2,097 Cr2,376 Cr2,563 Cr3,280 Cr3,830 Cr4,397 Cr5,262 Cr6,038 Cr6,800 Cr
Borrowings406 Cr422 Cr484 Cr536 Cr384 Cr1,014 Cr1,189 Cr753 Cr670 Cr635 Cr
Other liabilities1,133 Cr1,327 Cr1,403 Cr1,702 Cr2,153 Cr2,265 Cr2,276 Cr2,226 Cr2,295 Cr2,492 Cr
Total liabilities3,440 Cr3,943 Cr4,363 Cr4,905 Cr5,921 Cr7,213 Cr7,967 Cr8,369 Cr9,132 Cr10,057 Cr
Fixed assets (net)950 Cr998 Cr1,095 Cr1,321 Cr1,414 Cr1,473 Cr2,536 Cr2,516 Cr2,693 Cr2,811 Cr
CWIP62 Cr97 Cr170 Cr178 Cr107 Cr606 Cr110 Cr187 Cr123 Cr316 Cr
Investments472 Cr333 Cr395 Cr625 Cr210 Cr87 Cr183 Cr255 Cr533 Cr1,189 Cr
Loans & advances——8 Cr10 Cr13 Cr0 Cr4 Cr43 Cr0 Cr0 Cr
Inventories935 Cr1,007 Cr1,234 Cr1,278 Cr1,616 Cr2,316 Cr2,319 Cr2,180 Cr2,366 Cr2,393 Cr
Trade receivables578 Cr692 Cr671 Cr714 Cr1,020 Cr1,054 Cr1,243 Cr1,302 Cr1,536 Cr1,565 Cr
Cash & bank45 Cr84 Cr57 Cr79 Cr136 Cr103 Cr116 Cr240 Cr254 Cr207 Cr
Other assets397 Cr732 Cr733 Cr699 Cr1,406 Cr1,574 Cr1,455 Cr1,645 Cr1,627 Cr1,576 Cr
Total assets3,440 Cr3,943 Cr4,363 Cr4,905 Cr5,921 Cr7,213 Cr7,967 Cr8,369 Cr9,132 Cr10,057 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity395 Cr422 Cr562 Cr725 Cr796 Cr567 Cr976 Cr1,591 Cr1,269 Cr1,540 Cr
Cash from investing-308 Cr-183 Cr-409 Cr-223 Cr-457 Cr-521 Cr-600 Cr-398 Cr-650 Cr-976 Cr
Cash from financing-82 Cr-200 Cr-179 Cr-479 Cr-282 Cr-78 Cr-363 Cr-1,069 Cr-606 Cr-613 Cr
Net cash flow4 Cr38 Cr-27 Cr22 Cr57 Cr-33 Cr13 Cr124 Cr14 Cr-47 Cr
Free cash flow (OCF − Capex)126 Cr129 Cr243 Cr290 Cr610 Cr-208 Cr228 Cr1,316 Cr840 Cr1,022 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %31.2%27.9%27.1%29.0%27.1%23.7%22.2%26.6%23.9%20.4%
ROE %24.9%21.0%20.1%24.7%21.3%21.2%19.1%21.7%19.1%16.3%
Debtor days42484041544443424848
Inventory days149137131145171167144142147149
Days payable121130106121159130110109108109
Cash conversion cycle69556565678177758788
OCF / EBITDA %54.9%52.3%63.7%68.3%67.0%42.6%65.6%85.5%68.4%84.0%
OCF / EBITDA % (3 years)——57.3%62.1%66.5%58.3%58.4%67.0%73.7%79.3%
Debt / equity0.210.190.200.200.110.260.260.140.110.09
Current ratio1.741.681.691.521.711.421.401.832.052.12
Net debt / EBITDA0.50—0.480.430.210.680.720.280.220.23