Indigo Paints Ltd

Indigo Paints Ltd

Indigo Paints Limited was originally incorporated as Private Limited Company with the name `Indigo Paints Private Limited' at Pune Maharashtra on March 28 2000. Subsequently the Company was converted into a Public Limited Company and consequently name of the Company was changed to `Indigo Paints Limited' on August 20 2020. The Company is engaged in manufacture and sale of decorative paints. Indigo Paints founded in the year 2000 stands as a prominent paint company in India recognised for its progressive and distinct product strategy. With its headquarters situated in Pune Maharashtra the Company commenced its operations as a modest producer of economical cement paints. However over time it underwent a transformation expanding its portfolio to encompass a diverse assortment of decorative paints. Additionally it operates three manufacturing facilities strategically located in Jodhpur (Rajasthan) Kochi (Kerala) and Pudukkottai (Tamil Nadu). It has an active dealership network of 16496 and presently has 3 manufacturing units spread across 28 states. The Company manufactures complete range of decorative paints including Emulsions Enamels Wood Coatings Distemper Primers Putties and Cement Paints.The Company identify potential product needs from customers and introduce differentiated products to meet these requirements and create a distinct market for its products. For instance the company is the first company to manufacture and introduce certain differentiated products in the decorative paint market in India which includes its Metallic Emulsions Tile Coat Emulsions Bright Ceiling Coat Emulsions Floor Coat Emulsions Dirtproof & Waterproof Exterior Laminate Exterior and Interior Acrylic Laminate and PU Super Gloss Enamel (together Indigo Differentiated Products). These products are differentiated based on the end-use they cater to as well as added properties that they possess. As the first company in India to develop these products the company has had an early mover advantage in the markets it is present in which has allowed it to realize relatively higher margins for these products compared to the rest of its product portfolio. During year 2021 8 new depots were opened in different parts of the country and over 2000 net active dealers were added to strengthen product reach. It also added over 1100 tinting machines a special equipment to mix and match colours and produce the consumer's desired shade across the dealer stores. In FY'21 the Company doubled the production capacity for powder paints such as putties with the expansion of its existing plant in Jodhpur in FY21. As of March 31 2021 Indigo had installed 5472 tinting machines across India. It raised Rs. 1170 Crore through maiden public issue which got listed on February 2 2021 on the Stock Exchange.As on March 31 2022 the Company had 7101 tinting machines in its dealer network with a Tinting Machine penetration ration of 43%. It had raised Rs. 1170 Crore through IPO during FY 2020-21. Out of the proceeds Company received Rs. 28711.21 lakh for funding capital expenditure for expansion of existing manufacturing facility at Pudukkottai Tamil Nadu by setting up an additional unit adjacent to the existing facility; purchase of tinting machines and gyroshakers and repayment of part borrowings.During the year 2021-22 the Company has increased number of active dealers to 15787. Additionally it also increased the population of tinting machines to 7101 in FY 2022. It opened an additional depot in Karnataka and opened a depot each in Delhi & Himachal Pradesh.The Company acquired 51% Equity shares in the subsidiary company Apple Chemie India Private Limited on April 03 2023. It launched 23 products during FY 2022-23.