Buy Indigo Paints, target price Rs 1700: Motilal Oswal

Motilal Oswal has buy call on Indigo Paints Ltd. with a target price of Rs 1700. The current market price of Indigo Paints Ltd. is Rs 1461.85.
Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 6972.90 Crore) operating in Building Materials sector.

Indigo Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes, Other Operating Revenue and Scrap for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 315.17 Crore, down -18.99 % from last quarter Total Income of Rs 389.04 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company reported net profit after tax of Rs 26.65 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 53.94 per cent stake in the company as of 30-Jun-2024, while FIIs owned 8.28 per cent, DIIs 1.07 per cent.