Hold Indigo Paints, target price Rs 1650: ICICI Securities

ICICI Securities has hold call on Indigo Paints with a target price of Rs 1650. The current market price of Indigo Paints is Rs 1543.25. Time period given by analyst is one year when Indigo Paints Ltd. price can reach defined target.

Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 7346.08 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-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 290.88 Crore, up 8.63 % from last quarter Total Income of Rs 267.78 Crore and up 13.70 % from last year same quarter Total Income of Rs 255.85 Crore. Company reported net profit after tax of Rs 34.59 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 54.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.94 per cent, DIIs 3.61 per cent.