Paints: Q1 FY27 results (April-June 2026)

6 companies have declared Paints Q1 FY27 results so far, the latest on 13 Aug 2026.

Across the 5 non-financial companies with a year-ago quarter to compare, sales grew +15.3% and net profit +35.0% year on year, and the combined operating margin widened 165 bps to 18.5%.

80% of companies grew net profit; 75% beat their own profit trend and 0% fell short of it.

Updated 12 Oct 2026, 12:14 IST 6 declared 111 due in the next 3 days →

Paints Q1 FY27 scoreboard

Sales growth
+15.3%
YoY, 5 companies combined; median +12.0%
Net profit growth
+35.0%
YoY combined; median +35.2%
Operating margin
18.5%
+165 bps YoY
Grew profit
80%
0 turnarounds, 0 into loss
Vs own profit trend
75% / 0%
above / below, 25% in line
Price since results
-12.0%
median; 0% of 5 stocks up

Latest Paints Q1 FY27 results 6

Indigo Paints Limited

INDIGOPNTS · Paints · Q1 FY27 · Consolidated · Filed
M Cap
₹4,882 Cr
P/E
30.0
PEG
7.50
Since results
-8.3%
  • Profit +55% above its own trend
  • Operating margin expanded 254 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +19.6%-13.0% 370425309
Operating profit +41.0%-35.4% 62.096.044.0
OPM % +254 bps-581 bps 16.8%22.6%14.2%
Other income +69.9%— 10.20.06.0
Net profit +60.4%-29.3% 41.759.026.0
PAT margin % +287 bps-260 bps 11.3%13.9%8.4%
EPS (₹) +61.0%-27.6% 8.7612.105.44

Quality of profit

Core 82%Other income & one-offs 18%

Pre-tax profit ₹56.0 Cr: core business ₹45.8 Cr, other income ₹10.2 Cr.

Core profit YoY: +63.7% · reported profit +60.4%

Cash & debt

FY26 cash from operations ₹223 Cr: 152% of FY26 net profit of ₹147 Cr.

Borrowings ₹21.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹323₹370 +14.6% above
Net profit₹26.9₹41.7 +55.3% above
AI read of the filing 60% PAT Growth: Indigo Paints Reports Strong Q1 FY27 with 19.7% Revenue Increase Positive
  • Consolidated revenue from operations increased 19.7% YoY to ₹369.67 Cr
  • Consolidated Net Profit grew 60.0% YoY to ₹41.70 Cr from ₹26.06 Cr
  • Standalone EBITDA margin expanded by 290 bps to 17.7% compared to 14.8% in Q1 FY26
Full analysis →

JSW Dulux Limited

JSWDULUX · Paints · Q1 FY27 · Consolidated · Filed
M Cap
₹13,685 Cr
P/E
—
PEG
—
Since results
-3.4%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 965——
Operating profit —— 115——
OPM % —— 11.9%——
Other income —— 25.6——
Net profit —— 79.7——
PAT margin % —— 8.3%——
EPS (₹) —— 17.51——

Quality of profit

Core 78%Other income & one-offs 22%

Pre-tax profit ₹118 Cr: core business ₹92.1 Cr, other income ₹25.6 Cr.

Core profit YoY: —

AI read of the filing JSW Dulux Q1 PAT up 49% to ₹135.5 Cr; Board Approves 1:10 Stock Split Positive
  • Net Profit increased 48.9% YoY to ₹135.5 crore for the quarter ended June 30, 2026
  • Reported Revenue from operations stood at ₹965 crore, a 2.8% decline from ₹993.1 crore in the previous year's quarter
  • Other Income surged to ₹81.3 crore from ₹9.0 crore YoY, significantly impacting the bottom line
Full analysis →

Berger Paints (I) Limited

BERGEPAINT · Paints · Q1 FY27 · Consolidated · Filed
M Cap
₹55,024 Cr
P/E
45.2
PEG
4.11
Since results
-12.0%
  • Profit +42% above its own trend
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +12.0%+25.0% 3,5842,8683,201
Operating profit +15.0%+26.0% 607482528
OPM % +44 bps+14 bps 16.9%16.8%16.5%
Other income —-26.6% 50.769.03.0
Net profit +28.6%+20.9% 405335315
PAT margin % +146 bps-38 bps 11.3%11.7%9.8%
EPS (₹) +28.5%+20.9% 3.472.872.70

Quality of profit

Core 91%Other income & one-offs 9%

Pre-tax profit ₹543 Cr: core business ₹492 Cr, other income ₹50.7 Cr.

Core profit YoY: +17.0% · reported profit +28.6%

Cash & debt

FY26 cash from operations ₹1,540 Cr: 137% of FY26 net profit of ₹1,128 Cr.

Borrowings ₹635 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹3,288₹3,584 +9.0% above
Net profit₹285₹405 +42.3% above
AI read of the filing 25.5% PAT Growth in Q1 FY27 as Berger Paints Reports Rs 3,227 Cr Standalone Revenue Positive
  • Standalone Revenue from operations grew 12.7% YoY to Rs 3,226.68 Cr.
  • Standalone Net Profit increased 25.5% YoY to Rs 368.68 Cr from Rs 293.76 Cr.
  • EBITDA (excluding other income) rose 12.6% YoY to Rs 562.2 Cr.
Full analysis →

Kansai Nerolac Paints Limited

KANSAINER · Paints · Q1 FY27 · Consolidated · Filed
M Cap
₹14,662 Cr
P/E
24.9
PEG
2.26
Since results
-12.3%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +9.8%+21.5% 2,3741,9542,162
Operating profit +8.4%+52.0% 328216303
OPM % -18 bps+278 bps 13.8%11.1%14.0%
Other income +3.7%+399.5% 54.911.053.0
Net profit +5.9%+107.6% 228110216
PAT margin % -35 bps+399 bps 9.6%5.6%10.0%
EPS (₹) +4.8%+105.8% 2.861.392.73

Quality of profit

Core 82%Other income & one-offs 18%

Pre-tax profit ₹312 Cr: core business ₹258 Cr, other income ₹54.9 Cr.

Core profit YoY: +6.0% · reported profit +5.9%

Cash & debt

FY26 cash from operations ₹894 Cr: 155% of FY26 net profit of ₹576 Cr.

Borrowings ₹303 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹2,211₹2,374 +7.4% above
Net profit₹219₹228 +4.2% in line
AI read of the filing 10.2% Revenue Growth in Q1 FY27; Kansai Nerolac Reports ₹228 Cr Consolidated PAT Positive
  • Standalone revenue from operations grew 10.2% YoY to ₹2,299.52 Cr.
  • Consolidated Net Profit for the quarter increased to ₹228.41 Cr from ₹215.59 Cr YoY.
  • Standalone EBITDA reached ₹335.89 Cr, a growth of 7.7% over the previous year's quarter.
Full analysis →

Asian Paints Limited

ASIANPAINT · Paints · Q1 FY27 · Consolidated · Filed
M Cap
₹2,24,236 Cr
P/E
46.7
PEG
23.37
Since results
-14.6%
  • Profit +19% above its own trend
  • Operating margin expanded 236 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +18.1%+14.0% 10,5429,2478,924
Operating profit +33.5%+21.4% 2,1691,7871,625
OPM % +236 bps+125 bps 20.6%19.3%18.2%
Other income +21.8%+41.6% 279197229
Net profit +41.8%+31.6% 1,5591,1851,100
PAT margin % +247 bps+198 bps 14.8%12.8%12.3%
EPS (₹) +40.0%+31.4% 16.0612.2211.47

Quality of profit

Core 87%Other income & one-offs 13%

Pre-tax profit ₹2,096 Cr: core business ₹1,817 Cr, other income ₹279 Cr.

Core profit YoY: +41.9% · reported profit +41.8%

Cash & debt

FY26 cash from operations ₹7,088 Cr: 163% of FY26 net profit of ₹4,338 Cr.

Borrowings ₹3,929 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹9,381₹10,542 +12.4% above
Net profit₹1,311₹1,559 +18.9% above
AI read of the filing 40% Profit Growth: Asian Paints Q1 FY27 Consolidated Revenue Hits ₹10,521 Cr Positive
  • Consolidated Net Profit increased by 40.0% YoY to ₹1,539.3 crore
  • Domestic decorative business achieved 9% volume growth and 16.6% value growth
  • PBDIT margins expanded by 240 bps to 20.6% from 18.2% in the previous year
Full analysis →

Shalimar Paints Limited

SHALPAINTS · Paints · Q1 FY27 · Consolidated
M Cap
₹639 Cr
P/E
—
PEG
—
  • Operating margin contracted 378 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales -10.1%-11.5% 138156153
Operating profit loss widenedto loss -12.02.1-7.5
OPM % -378 bps-1003 bps -8.7%1.3%-4.9%
Other income -35.9%+13.6% 1.00.91.6
Net profit loss widenedloss widened -21.0-7.4-16.7
PAT margin % -435 bps-1048 bps -15.2%-4.7%-10.9%
EPS (₹) loss widenedloss widened -2.54-0.88-1.99

Quality of profit

Pre-tax profit −₹21.0 Cr: core business −₹22.0 Cr, other income ₹1.0 Cr.

Core profit YoY: loss widened

Cash & debt

FY26 cash from operations ₹23.0 Cr.

Borrowings ₹165 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹139₹138 -0.6% in line

Standouts so far

Biggest profit growth

  1. Indigo Paints+60.4%
  2. Asian Paints+41.8%
  3. Berger Paints+28.6%
  4. Kansai Nerolac+5.9%

Biggest profit declines

  1. Kansai Nerolac+5.9%
  2. Berger Paints+28.6%
  3. Asian Paints+41.8%
  4. Indigo Paints+60.4%

Best price reaction

  1. JSW Dulux-3.4%
  2. Indigo Paints-8.3%
  3. Berger Paints-12.0%
  4. Kansai Nerolac-12.3%
  5. Asian Paints-14.6%

Worst price reaction

  1. Asian Paints-14.6%
  2. Kansai Nerolac-12.3%
  3. Berger Paints-12.0%
  4. Indigo Paints-8.3%
  5. JSW Dulux-3.4%

Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.

Reporting in the next three days

HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct), Anand Rathi (Tue 13 Oct) and 87 more. Full results calendar →

How to read this page

The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months). A swing between profit and loss is described in words: a percentage across it would mislead.

Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income, as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points (100 bps = 1 percentage point).

Quality of profit. Core profit is operating profit minus interest and depreciation: what the business itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more, and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net profit, since a fall in provisions can lift profit without the business growing.

Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead each company is measured against the path it was on: the same quarter last year, grown at the median of its last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales 5% or more above that, or net profit 10% or more above, is "above trend"; as far below is "below trend". It answers "was this quarter better or worse than the company's own recent run?", which consensus does not.

Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show its operating cash flow for the last financial year as a share of that year's net profit (flagged under 50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet against the one six months earlier (flagged at a 25% move). Balance sheets come with the September and March results, cash-flow statements with the March results.

Price since results. The latest close against the last close before the filing (a filing after 3:30 pm counts from the next session). It is a fact about the market's reaction, not advice.

Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150 (SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.

⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI