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Berger Paints India

₹441.3 -2.6 | 0.6%

Market Cap ₹51442 Cr.

Stock P/E 44.0

P/B 9.2

Current Price ₹441.3

Book Value ₹ 48

Face Value 1

52W High ₹629.6

Dividend Yield 0.79%

52W Low ₹ 438

Berger Paints India Research see more...

Overview Inc. Year: 1923Industry: Paints

Berger Paints India Limited is engaged in the production and selling of paints, varnishes, enamels or lacquers. The Company offers merchandise in classes, which includes interior wall coatings, exterior wall coatings, outdoors textures, metal finishes, wood finishes, glass finishes, underneath coats, water proofing solutions and external thermal insulation and composite systems (ETICS). Its designer finishes include Silk Illusions Design Metallica, Silk Illusions Non Metallic, Silk Illusions Metallica and Silk Illusions Marble Finish. Its interior emulsions include Silk Glow,Silk Breathe Easy, Silk Glamorand Silk Luxury Emulsion. Its interior wall distempers include Bison Distemper. The Company's exterior emulsions encompass WeatherCoat Long Life 10, WeatherCoat Long Life 7, WeatherCoat Anti Dustt, WeatherCoat Glow, WeatherCoat Champ, WeatherCoat Floor Protector and WeatherCoat Tile Protector. Its outdoors textures consist of Florentina, Solitaire and Ruff N Tuff.

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Berger Paints India Share Price

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Peer Comparison

Berger Paints India Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 2760 2671 2694 2444 3030 2767 2882 2520 3091 2775
Other Income 13 13 11 15 14 15 19 16 36 21
Total Income 2773 2684 2704 2459 3043 2783 2901 2536 3127 2796
Total Expenditure 2355 2307 2344 2075 2473 2294 2402 2169 2569 2340
Operating Profit 418 377 361 384 570 489 499 367 559 455
Interest 16 24 30 29 20 21 20 18 15 17
Depreciation 63 62 64 74 78 83 83 87 87 89
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 339 290 267 280 472 385 396 262 456 349
Provision for Tax 89 73 68 72 121 97 98 71 112 88
Profit After Tax 250 216 199 208 351 288 299 191 344 261
Adjustments 3 3 2 -23 3 3 1 32 9 9
Profit After Adjustments 253 219 201 186 354 292 300 222 354 270
Adjusted Earnings Per Share 2.2 1.9 1.7 1.6 3 2.5 2.6 1.9 3 2.3

Berger Paints India Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 3870 4322 4223 4552 5166 6062 6366 6818 8762 10568 11199 11268
Other Income 36 36 38 55 46 60 69 51 65 52 64 92
Total Income 3906 4358 4261 4607 5212 6122 6434 6869 8826 10619 11263 11360
Total Expenditure 3438 3811 3583 3835 4361 5128 5305 5630 7431 9081 9338 9480
Operating Profit 467 547 678 771 851 994 1130 1239 1396 1539 1925 1880
Interest 47 50 27 16 25 47 47 44 51 99 78 70
Depreciation 71 93 97 106 122 180 191 211 227 264 331 346
Exceptional Income / Expenses 0 0 0 44 0 0 0 0 0 0 0 0
Profit Before Tax 350 404 559 703 705 765 883 979 1122 1162 1557 1463
Provision for Tax 101 139 189 229 244 271 227 259 289 302 387 369
Profit After Tax 249 265 371 474 461 494 656 720 833 860 1170 1095
Adjustments 0 0 0 0 0 0 2 0 -0 -1 -2 51
Profit After Adjustments 249 265 371 474 461 494 658 720 833 859 1168 1146
Adjusted Earnings Per Share 2.1 2.3 3.2 4.1 4 4.2 5.6 6.2 7.1 7.4 10 9.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 6% 18% 13% 11%
Operating Profit CAGR 25% 16% 14% 15%
PAT CAGR 36% 18% 19% 17%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -25% -11% 1% 14%
ROE Average 24% 22% 23% 24%
ROCE Average 30% 28% 29% 29%

Berger Paints India Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 1120 1261 1562 1902 2195 2444 2660 3377 3927 4494 5379
Minority's Interest 0 0 0 0 0 3 7 7 7 8 10
Borrowings 147 251 211 262 249 239 243 166 10 8 6
Other Non-Current Liabilities 78 72 80 704 933 1384 1596 1889 1956 2091 2338
Total Current Liabilities 1249 1132 1024 1179 1520 1691 1824 2172 3576 3672 3274
Total Liabilities 2595 2716 2877 4047 4897 5761 6330 7610 9476 10272 11007
Fixed Assets 864 931 963 1136 1267 1583 1916 2044 2187 3332 3500
Other Non-Current Assets 185 154 183 854 1153 1478 1711 1938 2508 2079 2278
Total Current Assets 1546 1631 1730 2058 2477 2700 2704 3628 4782 4861 5229
Total Assets 2595 2716 2877 4047 4897 5761 6330 7610 9476 10272 11007

Berger Paints India Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 227 47 74 42 45 84 57 79 136 103 116
Cash Flow from Operating Activities 310 414 595 395 422 611 725 796 567 976 1591
Cash Flow from Investing Activities -301 -184 -259 -308 -183 -379 -223 -457 -521 -600 -398
Cash Flow from Financing Activities -52 -198 -368 -82 -200 -259 -479 -282 -78 -363 -1069
Net Cash Inflow / Outflow -43 32 -32 4 38 -27 22 57 -33 12 124
Closing Cash & Cash Equivalent 184 79 42 45 84 57 79 136 103 116 240

Berger Paints India Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 2.14 2.27 3.18 4.07 3.95 4.24 5.64 6.18 7.15 7.37 10.02
CEPS(Rs) 2.75 3.07 4.02 4.98 5 5.78 7.27 7.99 9.09 9.65 12.87
DPS(Rs) 1.1 1.25 1.65 1.75 1.8 1.9 2.2 2.8 3.1 2.67 3.5
Book NAV/Share(Rs) 9.59 10.8 13.4 16.31 18.81 20.95 22.81 28.95 33.63 38.51 46.1
Core EBITDA Margin(%) 10.15 10.73 13.66 14.19 15.24 15.4 14.22 14.7 13.06 11.97 14.16
EBIT Margin(%) 9.33 9.55 12.52 14.24 13.81 13.4 12.47 12.65 11.51 10.16 12.44
Pre Tax Margin(%) 8.23 8.49 11.94 13.92 13.34 12.62 11.84 12.11 11.01 9.36 11.84
PAT Margin (%) 5.87 5.56 7.91 9.38 8.72 8.15 8.79 8.9 8.17 6.93 8.9
Cash Profit Margin (%) 7.53 7.51 9.99 11.48 11.04 11.12 11.35 11.52 10.4 9.05 11.41
ROA(%) 10.43 9.97 13.25 13.68 10.3 9.27 10.85 10.33 9.75 8.71 11
ROE(%) 24.14 22.3 26.29 27.36 22.52 21.32 25.73 23.86 22.84 20.46 23.72
ROCE(%) 24.44 25.15 30.98 34.06 29.62 29.12 30.2 29.44 28.1 25.6 30.15
Receivable days 38.52 39.15 42.1 40.6 43.9 41.06 33.89 39.14 37.13 33.75 35.32
Inventory Days 57.14 54.27 56.6 60.3 67.13 67.46 61.43 65.35 70.42 68.11 62.44
Payable days 67.08 71.58 81.03 94.97 101.84 93.79 97.22 123.21 115.42 97.7 94.55
PER(x) 31.89 54.69 45.76 49.51 54.04 63.58 73.44 103.19 81.62 65.72 57.2
Price/Book(x) 7.12 11.51 10.86 12.34 11.36 12.87 18.18 22.01 17.34 12.58 12.43
Dividend Yield(%) 0.96 0.6 0.67 0.72 0.7 0.59 0.44 0.37 0.44 0.55 0.61
EV/Net Sales(x) 2.17 3.45 4.07 5.22 4.86 5.23 7.64 10.88 7.8 5.39 5.94
EV/Core EBITDA(x) 17.96 27.28 25.37 30.79 29.52 31.92 43.05 59.87 48.96 37.04 34.57
Net Sales Growth(%) 15.64 11.69 -2.29 7.79 13.48 17.35 5.01 7.1 28.52 20.61 5.97
EBIT Growth(%) 14.66 14.53 29.11 22.65 1.39 11.4 14.5 9.95 14.7 7.55 29.61
PAT Growth(%) 14.19 6.14 39.99 27.82 -2.71 7.17 32.84 9.7 15.73 3.3 35.96
EPS Growth(%) 14.12 6.09 39.95 27.81 -2.71 7.25 33.07 9.4 15.71 3.18 35.86
Debt/Equity(x) 0.56 0.48 0.23 0.21 0.19 0.21 0.2 0.11 0.17 0.17 0.04
Current Ratio(x) 1.24 1.44 1.69 1.74 1.63 1.6 1.48 1.67 1.34 1.32 1.6
Quick Ratio(x) 0.68 0.81 0.97 0.95 0.97 0.87 0.78 0.93 0.69 0.69 0.93
Interest Cover(x) 8.51 9.06 21.5 44.35 29.71 17.2 19.77 23.19 23.13 12.71 20.9
Total Debt/Mcap(x) 0.08 0.04 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0

Berger Paints India Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 74.99 74.99 75 74.99 74.99 74.99 74.99 74.99 74.99 74.99
FII 11.03 11.13 11.11 10.64 10.83 10.89 10.68 10.66 7.51 6.98
DII 3.57 3.17 2.92 3.47 3.75 4.07 4.68 5.18 7.57 8.77
Public 10.41 10.71 10.98 10.9 10.42 10.05 9.65 9.17 9.93 9.26
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 22%
  • Debtor days have improved from 97.7 to 94.55days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 9.2 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Berger Paints India News

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