External broker reports(aggregated public sources), Sharekhan

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Indigo Paints Limited’s (IPL’s) Q2FY2025 numbers were in line with expectations; consolidated revenues grew 7.4% y-o-y, OPM fell 124 bps y-o-y to 13.9% and PAT declined 12.1% y-o-y.</li><li>Management expects demand to improve in Q3 on seasonality (festive and wedding driven demand) and pent-up demand.</li><li>It eyes at least double-digit revenue growth in H2.Margin contraction in Q2 was mainly due to price cuts undertaken in H2FY24. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indigo Paints Limited’s (IPL’s) Q2FY2025 numbers were in line with expectations; consolidated revenues grew 7.4% y-o-y, OPM fell 124 bps y-o-y to 13.9% and PAT declined 12.1% y-o-y.Management expects demand to improve in Q3 on seasonality (festive and wedding driven demand) and pent-up demand.It eyes at least double-digit revenue growth in H2.Margin contraction in Q2 was mainly due to price cuts undertaken in H2FY24. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indigo Paints Ltd - Soft Q2; Better Prospects Ahead