Berger Paints India Ltd. reported a robust performance in the January-March quarter of FY24, with key operational and financial metrics showing strong growth despite a challenging market environment. The company recorded a 7.4 per cent year-on-year volume growth in Q4, driven primarily by the decorative paints segment, which maintained high single-digit growth despite intensified competition and muted urban demand.
Net profit rose 18 per cent YoY to Rs 263 crore, up from Rs 222.6 crore in the same quarter last year. Revenue from operations increased by 7 per cent, reaching Rs 2,704 crore compared to Rs 2,520 crore in Q4 FY23. Operating efficiency also improved, with EBITDA climbing 22 per cent to Rs 427.7 crore from Rs 351 crore last year, and margins expanding to 15.8 per cent from 13.9 per cent.
CEO and Managing Director Abhijit Roy acknowledged ongoing headwinds, including softer urban demand and competitive pricing pressures. However, he highlighted that the company’s premium emulsion segment gained momentum and pricing actions in the previous quarter helped narrow the volume-to-value growth gap.
Berger Paints also announced a dividend of Rs 3.80 per share for FY24-25, pending shareholder approval at the upcoming 101st Annual General Meeting.
On the international front, the company’s Poland and Nepal operations performed well, with Nepal posting a turnaround thanks to improved market conditions and a favorable base effect.
Management remains optimistic about future demand, buoyed by positive factors such as favorable Union Budget provisions, government-led infrastructure spending, and expectations of a good monsoon season. The company also reported zero gross debt and a stronger cash position, indicating a robust balance sheet.
Following the earnings announcement, Berger Paints’ shares rose 2.58 per cent to Rs 556.90. The stock has surged nearly 22 per cent year-to-date in 2025, reflecting investor confidence in the company’s strategy and resilience.
