Indigo Paints Q2 FY27 consolidated net profit fell 47% to ₹13.4 crore while revenue rose 15% to ₹358.8 crore, results published on October 30, 2026 show. EBITDA dropped 33.5% to ₹31 crore for the quarter ended September 30, 2026.
Consolidated net profit in the year-earlier quarter was ₹25.25 crore, according to one summary of the filing, and EBITDA was ₹46.54 crore. Net profit margin narrowed to 3.7% from 8.1%.
How Did Indigo Paints Perform in Q2 FY27?
Revenue growth was solid but did not reach the bottom line. Consolidated revenue from operations rose about 15% from ₹312.06 crore a year earlier. Two independent summaries of the filing gave the same revenue, EBITDA and profit figures within rounding.
Standalone figures were close: revenue from operations of ₹340.5 crore, up 14.1%, EBITDA of ₹30.3 crore, down 33.8%, and net profit of ₹13.8 crore, down 45.9%, according to one of the summaries.
Why Did Profit Fall When Revenue Grew?
The sources reviewed did not give a confirmed cause for the margin squeeze, and this article does not assume one. The wider paints sector has faced crude-linked raw material inflation in 2026. A Kotak Neo report updated on October 5, 2026 noted that Brent crude rose from about $70 a barrel in early July to nearly $97 by end-September, and that several paint raw materials are crude-linked.
What Does This Mean for Paint Makers?
Indigo Paints’ result shows that double-digit revenue growth is not guaranteeing earnings growth for mid-sized paint companies this year. The same Kotak Neo report cited high dealer inventory, competition and crude prices as pressures on the sector.
Market Reaction and Industry Response
No share price reaction, analyst comment or trade body statement on the Indigo Paints results was found in the sources reviewed.
What Happens Next?
Attention now turns to whether Indigo Paints can recover margins in the second half of FY27 and how its raw material costs move. The company’s own commentary beyond the filing was not available in the sources reviewed.
Frequently Asked Questions
What was Indigo Paints’ net profit in Q2 FY27?
Consolidated net profit was ₹13.4 crore, down about 47% year on year.
How much did Indigo Paints’ revenue grow?
Consolidated revenue rose about 15% to ₹358.8 crore.
What happened to Indigo Paints’ EBITDA?
EBITDA fell 33.5% to about ₹31 crore.
Source: Investywise and Univest summaries of the company’s Q2 FY27 filing, October 30, 2026; Kotak Neo, updated October 5, 2026.
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