Brands
Berger Paints FY26 profit rises 2 per cent on steady demand
Paint major posts Rs 1,095 crore profit as revenue crosses Rs 10,420 crore
MUMBAI: Even in a muted consumption market, Berger Paints seems to have found a way to keep the colour from fading. Berger Paints India closed FY26 with higher profits, stronger cash flows and double-digit quarterly earnings growth, signalling resilience in a year when demand across several consumer categories remained uneven. The paintmaker reported standalone revenue from operations of Rs 10,420.1 crore for the year ended March 31, 2026, up 2.5 per cent from Rs 10,169.2 crore a year earlier.
Net profit for the year rose 1.7 per cent to Rs 1,095.7 crore, compared to Rs 1,077.5 crore in FY25, despite elevated raw material costs and continued pricing pressure across the decorative paints market.
Quarterly performance, however, carried a brighter shade.
For the March quarter, Berger Paints posted revenue of Rs 2,504 crore, up from Rs 2,347.4 crore in the corresponding quarter last year, while quarterly profit jumped 38.1 per cent to Rs 327.3 crore from Rs 236.9 crore.
The company’s profit before tax for the quarter stood at Rs 434.1 crore against Rs 317.9 crore a year ago, aided partly by a Rs 36.8 crore exceptional gain.
Margins also improved as inventory adjustments and operational efficiencies helped offset pressure from material costs. Total expenses for the quarter rose to Rs 2,142.9 crore from Rs 2,049 crore last year, with raw material consumption climbing to Rs 1,355.2 crore.
Paint companies have spent much of the past two years navigating volatile crude-linked input costs, intensifying competition and slower urban consumption. Yet Berger appears to be leaning on tighter cost management and premium product expansion to protect profitability.
The company’s annual EBITDA remained healthy, while cash generation from operations strengthened to Rs 1,406.4 crore in FY26.
Berger also continued investing in capacity and infrastructure expansion. Capital expenditure and investments during the year included spending on property, plant and equipment, while capital work-in-progress rose sharply to Rs 259.7 crore from Rs 76.9 crore a year earlier.
Its balance sheet reflected that expansion push.
Total assets climbed to Rs 8,946.2 crore as of March-end from Rs 8,176.5 crore last year, while other equity increased to Rs 6,226.3 crore.
Cash and cash equivalents stood at Rs 151.9 crore at the end of FY26.
The company also maintained shareholder payouts, with dividend payments during the year amounting to Rs 443 crore.
The broader paints industry is entering a more competitive phase, with new entrants intensifying pricing battles and premiumisation becoming increasingly important. Demand from smaller towns, housing renovation and infrastructure-linked projects continues to support volumes, even as urban discretionary spending remains patchy.
For Berger Paints, FY26 was less about explosive growth and more about holding its ground and in a market where every shade is fiercely contested, that in itself is proving to be a durable coat.
