Indigo Paints hits new low; falls 8% in one week post Q3 results

In line with the industry, Indigo Paints had also increased the product prices in the December quarter to mitigate the sharp escalation in the price of raw materials.

Shares of Indigo Paints hit a new low of Rs 1,788.80, down 3 per cent in Thursday’s intra-day trade, falling 8 per cent in one week after the company announced its December quarter (Q3FY22) results. In comparison, the S&P BSE Sensex was down 1 per cent during the same period.

In Q3FY22, the company’s earnings before interest tax and depreciation and amortization (EBITDA) margin fell 45 bps at 14.57 per cent primarily due to reduction in gross margins, down 670 bps at 42.89 per cent, and higher A&P expenses. However, its revenue was up 26 per cent year-on-year (YoY),