{"id":143360,"date":"2023-03-22T03:45:40","date_gmt":"2023-03-22T07:45:40","guid":{"rendered":"https:\/\/44.250.171.167\/?p=143360"},"modified":"2023-03-22T03:45:42","modified_gmt":"2023-03-22T07:45:42","slug":"indigo-paints-limited-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indigo-paints-limited-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Indigo Paints Limited Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Indigo Paints Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/INDIGOPNTS\/\">INDIGOPNTS<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:09:29] INDIGOPNTS said it will soon be launching a range of waterproofing and construction chemicals in the retail space.<\/li>\n<\/ul>\n<ul>\n<li>[00:10:13] INDIGOPNTS said it experienced good growth in January 2023, and plans to be aggressive in trade discounts to further accelerate growth while improving product mix and profitability.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:11:45] Abneesh Roy from Nuvama asked how INDIGOPNTS will manage the cost inflation while keeping a healthy EBITDA and GM going forward. Hemant Jalan MD said INDIGOPNTS wants to maintain its current GM, but due to cooling RM prices and increasing competition, it has had to increase trade discounts. Advertising spends have increased in absolute terms, but the A&amp;P expenses as a percentage of the top-line has decreased due to higher sales growth than A&amp;P growth. This trend is expected to continue.<\/li>\n<\/ul>\n<ul>\n<li>[00:14:38] Abneesh Roy from Nuvama also enquired about the strategy of new launches as most of the other players are in that space already. Hemant Jalan MD replied that INDIGOPNTS was late to enter the market for its type of new products, but trials have been successful and it will be launching the entire range in 1Q24. This range contributes to high growth for other paint companies and since the sales channels are the same, it is a synergy that INDIGOPNTS should take advantage of.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:59] Abneesh Roy from Nuvama queried that if the company expects high-single-digit to double-digit volume growth in Q4. Hemant Jalan MD said that INDIGOPNTS expects that it will grow faster than its larger peers in the industry, having a large exposure to the decorative paint segment. INDIGOPNTS expects to improve upon its growth moving forward.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:17] Shrenik Bhandari from Invest Yadnya asked about the company&#8217;s opinion on the slowdown in dealer additions over the past quarter, compared to the previous nine months. T. S. Suresh Babu COO replied that INDIGOPNTS is focusing on increasing its network by targeting 750 bigger towns and putting more emphasis on quality of dealers than numbers. Throughput per dealer is higher in the last nine months than it was previously.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:34] Tejas Shah at Spark Capital asked how the company perceives consumer sentiment in the current and upcoming quarters. T. S. Suresh Babu COO said the wedding season is in full swing during 4Q, mainly in Jan. and Feb. This gives a boost to paint consumption as weddings take place heavily in Northern India during this time. Wedding season also continues throughout much of Feb. in South India.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:53] Tejas Shah at Spark Capital enquired about the distribution infrastructure, such as depots, required to support the new Tamil Nadu plant. Hemant Jalan MD said INDIGOPNTS is not planning to increase the number of depots due to the construction of a new plant. The company is instead basing the decision on anticipated demand and depot expansion will occur gradually over time. The new plant will be more modern and automated and production is expected to start in March.<\/li>\n<\/ul>\n<ul>\n<li>[00:29:23] Hiral Desai from Anived PMS asked if the company&#8217;s planned A&amp;P spend will be enough to effectively promote INDIGOPNTS products and gain market share. Hemant Jalan MD replied that INDIGOPNTS tracks its competitors&#8217; A&amp;P spends and has done brand tracking studies in India, resulting in a high brand recall. However, added that it\u2019s important to focus on other factors that drive sales instead of merely increasing advertising spends to increase market share.<\/li>\n<\/ul>\n<ul>\n<li>[00:33:33] Rohan Bhukne asked about the revenue guidance in terms of the revenue growth for the next 3-5 years. Hemant Jalan MD answered that it\u2019s not able to provide specific guidance on percentage growth for the next 3-5 years, but the goal is to outperform larger peers and deliver 1.5 to 2 times higher growth rate by focusing on larger cities.<\/li>\n<\/ul>\n<ul>\n<li>[00:42:01] Manoj Menon from ICICI Securities asked about NPD products launched in the last 6-12 months and its pipeline. Hemant Jalan MD clarified that there have not been any major new product launches from the company in recent years. However, INDIGOPNTS has added several sub-variants to its existing products, such as extra sheen variants, dust-free variants, etc. INDIGOPNTS added it\u2019s also planning to launch a full range of waterproofing and construction chemicals in 1Q24.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Indigo Paints Limited (INDIGOPNTS) Q3 FY23 Earnings Concall Management Update: [00:09:29] INDIGOPNTS said it will soon be launching a range of waterproofing and construction chemicals in the retail space. [00:10:13] INDIGOPNTS said it experienced good growth in January 2023, and plans to be aggressive in trade discounts to further accelerate growth while [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,5753,12],"tags":[10169,9478,10226],"class_list":["post-143360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-industrials","category-other-industries","tag-earnings","tag-industirals","tag-paints"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":148551,"url":"https:\/\/alphastreet.com\/india\/indigo-paints-limited-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":143360,"position":0},"title":"Indigo Paints Limited Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"June 8, 2023","format":false,"excerpt":"Key highlights from Indigo Paints Limited (INDIGOPNTS) Q4 FY23 Earnings Concall Management Update: [00:02:16] INDIGOPNTS said it crossed the milestone of INR1,000 crores on a net revenue basis. [00:11:18] INDIGOPNTS is beginning to start work on setting up a state-of-the-art 90,000 KL per annum paint plant at Jodhpur. Q&A Highlights:\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":138477,"url":"https:\/\/alphastreet.com\/india\/indigo-paints-limited-q2-fy23-net-profit-surged-by-174\/","url_meta":{"origin":143360,"position":1},"title":"Indigo Paints Limited Q2 FY23; Net Profit Surged By 174%","author":"Hardik Bhandare","date":"December 14, 2022","format":false,"excerpt":"Indigo Paints Limited (NSE: INDIGOPNTS) reported Q2FY23 result with a Revenue from Operations growth of 24% up to \u20b9242.6 Crores from \u20b9196.11 Crores year on year. The Net Profit surged up to \u20b937.08 Crores from \u20b913.54 Crore, an increase of 174%. The Earnings per share is \u20b97.78 for this quarter.","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/fa5ef447-3980-499b-b661-9e7db44962d3-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":142767,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-indigo-paints-limited-for-q3-fy23\/","url_meta":{"origin":143360,"position":2},"title":"Earnings Summary Of Indigo Paints Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 10, 2023","format":false,"excerpt":"Indigo Paints (NSE: INDIGOPNTS) is an Indian paint manufacturing company founded in 2000, with its headquarters located in Pune, Maharashtra. The company primarily focuses on producing decorative paints, including emulsions, enamels, wood coatings, distempers, primers, and putties, among others. Indigo Paints has a vast distribution network of 37 depots and\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-31.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170433,"url":"https:\/\/alphastreet.com\/india\/indigo-paints-q1-fy26-earnings-results\/","url_meta":{"origin":143360,"position":3},"title":"Indigo Paints Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 21, 2025","format":false,"excerpt":"Indigo Paints Ltd, incorporated in 2000, is engaged in the manufacturing and sale of decorative paints. Presenting below are its Q1 FY26 Earnings Results. Q1 FY26 Earnings Results Revenue: \u20b9309 crore, down 0.64% year-on-year (YoY) from \u20b9311 crore in Q1 FY25. Total Expenses: \u20b9281 crore, up 0.36% YoY from \u20b9280\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"INDIGOPNTS Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/INDIGOO.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":138574,"url":"https:\/\/alphastreet.com\/india\/everything-you-need-to-know-about-pindigo-paints-ltd-nse-indigopnts\/","url_meta":{"origin":143360,"position":4},"title":"Everything You Need to Know About Indigo Paints Ltd.(NSE :INDIGOPNTS)","author":"Divyansh_Kasana","date":"January 10, 2023","format":false,"excerpt":"A few more new product lines have been recently added, one being a budget range of exterior emulsion and another being a high sheen variant of an existing premium exterior emulsion. We sincerely hope that we will be able to report a much higher growth trajectory on behalf of Indigo\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/08\/iStock-687982910.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/08\/iStock-687982910.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/08\/iStock-687982910.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":180895,"url":"https:\/\/alphastreet.com\/india\/indigo-paints-q3-profit-rises-11-margins-expand-on-lower-ad-spend-and-benign-raw-material-costs\/","url_meta":{"origin":143360,"position":5},"title":"Indigo Paints Q3 Profit Rises 11%, Margins Expand on Lower Ad Spend and Benign Raw Material Costs","author":"Staff Correspondent","date":"February 16, 2026","format":false,"excerpt":"Indigo Paints Limited (BSE: 543258 | NSE: INDIGOPNTS), a decorative paints manufacturer, reported a 11.2% year-on-year rise in third-quarter profit, aided by improved operating margins, lower advertising spends and easing raw material prices, even as revenue growth remained moderate. The company has a pan-India presence across 28 states, supported by\u2026","rel":"","context":"In &quot;LATEST&quot;","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/143360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=143360"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/143360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=143360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=143360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=143360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}