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Berger Paints India Limited
(BERGEPAINT)
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Rating:66Neutral
Price Target:
₹524.00
▲(5.24% Upside)
Action:Reiterated
Date:06/20/26
The score is supported primarily by strong financial fundamentals (low leverage and healthy profitability) and a constructive technical setup (trading above key moving averages). The main constraint is valuation: the high P/E and low dividend yield imply elevated expectations and limit upside if growth or margins soften.
Positive Factors
Conservative balance sheet
Low and improving leverage gives Berger Paints financial flexibility to support expansion, manage cyclical demand, and absorb operating volatility. Steady equity growth further strengthens the balance sheet, while limited debt reduces refinancing pressure and the drag of interest costs on future earnings.
Negative Factors
Slowing revenue growth
The deceleration in annual revenue growth suggests that recent top-line momentum is less powerful than in prior years. If sustained, slower expansion could limit operating leverage, reduce the pace of market-share gains and make future earnings growth more dependent on pricing or mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low and improving leverage gives Berger Paints financial flexibility to support expansion, manage cyclical demand, and absorb operating volatility. Steady equity growth further strengthens the balance sheet, while limited debt reduces refinancing pressure and the drag of interest costs on future earnings.
Read all positive factors
Berger Paints India Limited (BERGEPAINT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹566.21B
Dividend Yield0.82%
Average Volume (3M)39.45K
Price to Earnings (P/E)46.5
Beta (1Y)0.85
Revenue Growth5.22%
EPS Growth6.57%
CountryIN
Employees4,445
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)10.44
Shares Outstanding1,166,002,800
10 Day Avg. Volume41,193
30 Day Avg. Volume39,454
Financial Highlights & Ratios
PEG Ratio-9.54
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)11.47
Revenue Forecast (FY)₹134.00B
Berger Paints India Limited Business Overview & Revenue Model
Company Description
Berger Paints India Limited is a prominent producer and distributor of a diverse range of paint products, catering to domestic, commercial, and industrial clients both within India and across global markets. Its extensive product portfolio encompa...
How the Company Makes Money
Berger Paints primarily makes money by selling paints and coatings, with revenue largely driven by volume and pricing across its product mix and distribution channels. Key revenue streams include: (1) Decorative/architectural coatings: Sales of in...
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 | 122.63B | 118.80B | 115.45B | 111.99B | 105.68B | 87.62B |
| Gross Profit | 41.99B | 37.48B | 46.20B | 43.89B | 37.05B | 32.21B |
| EBITDA | 20.36B | 19.38B | 15.23B | 15.51B | 14.37B | 12.86B |
| Net Income | 12.17B | 11.27B | 11.80B | 11.68B | 8.59B | 8.33B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 100.57B | 91.32B | 83.69B | 79.67B | 72.13B |
| Cash, Cash Equivalents and Short-Term Investments | 12.80B | 12.80B | 8.34B | 5.56B | 2.93B | 3.95B |
| Total Debt | 0.00 | 6.35B | 6.70B | 7.53B | 11.89B | 10.14B |
| Total Liabilities | -69.30B | 31.27B | 29.65B | 29.79B | 34.65B | 32.78B |
| Stockholders Equity | 69.30B | 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
Negative
497.90
Price Trends
510.96
Negative
504.20
Negative
496.45
Negative
Market Momentum
-9.34
Positive
34.86
Neutral
20.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BERGEPAINT, the sentiment is Negative. The current price of 497.9 is below the 20-day moving average (MA) of 516.41, below the 50-day MA of 510.96, and above the 200-day MA of 496.45, indicating a bearish trend. The MACD of -9.34 indicates Positive momentum. The RSI at 34.86 is Neutral, neither overbought nor oversold. The STOCH value of 20.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BERGEPAINT.
Berger Paints India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹56.59B | 34.95 | ― | 0.42% | 9.51% | 13.64% | |
70 Outperform | ₹144.54B | 6.89 | ― | 7.97% | -11.34% | 383.49% | |
70 Outperform | ₹157.19B | 26.21 | ― | 1.29% | 5.24% | -47.04% | |
66 Neutral | ₹566.21B | 46.45 | ― | 0.82% | 5.22% | 6.57% | |
62 Neutral | ₹2.42T | 50.84 | ― | 1.10% | 9.78% | 32.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹7.20B | -10.28 | ― | 1.75% | -10.48% | 0.50% |
* General Sector Average
IN:BERGEPAINT
Berger Paints India Limited
485.10
-50.55
-9.44%
IN:AKZOINDIA
Akzo Nobel India Limited
3,186.15
-176.91
-5.26%
IN:ASIANPAINT
Asian Paints Ltd.
2,499.10
-5.18
-0.21%
IN:INDIGOPNTS
Indigo Paints Ltd
1,179.65
41.98
3.69%
IN:KANSAINER
Kansai Nerolac Paints Limited
194.40
-46.33
-19.25%
IN:SHALPAINTS
Shalimar Paints Ltd
82.86
9.98
13.69%
Berger Paints India Limited Corporate Events
Berger Paints Receives ESG Score of 60 for FY 2026
Aug 24, 2026
Berger Paints India Limited has disclosed that ESG Risk Assessments and Insights Limited has assigned the company an ESG score of 60 for the financial year 2026, in line with regulatory requirements on market disclosures. The rating update, formal...
Berger Paints posts audio of Q1 FY2026 investor presentation online
Aug 5, 2026
Berger Paints India Limited has announced that the audio recording of its investor presentation discussing the financial results for the quarter ended 30 June 2026, held on 5 August 2026, is now available on the company’s website. By publish...
Berger Paints Publishes AGM Notice, Notifies Exchanges in Line with SEBI Rules
Jun 24, 2026
Berger Paints India Limited has informed stock exchanges that it has published notices in national English daily Business Standard and Bengali daily Aajkaal regarding its 102nd Annual General Meeting. The company submitted copies of these newspape...
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.