Buy Indigo Paints, target price Rs 1770: Motilal Oswal

Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 6788.90 Crore) operating in Building Materials sector.

By ETMarkets.com | Nov 07, 2023, 11.49 AM IST

Promoters held 53.95 per cent stake in the company as of 30-Sep-2023, while FIIs owned 8.75 per cent, DIIs 2.29 per cent.

Motilal Oswal has buy call on Indigo Paints Ltd. with a target price of Rs 1770. The current market price of Indigo Paints Ltd. is Rs 1424.15.

Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 6788.90 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-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Standalone Total Income of Rs 273.43 Crore, down -2.53 % from last quarter Total Income of Rs 280.54 Crore and up 11.24 % from last year same quarter Total Income of Rs 245.80 Crore. Company reported net profit after tax of Rs 26.14 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 53.95 per cent stake in the company as of 30-Sep-2023, while FIIs owned 8.75 per cent, DIIs 2.29 per cent.

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