Indigo paints Q4FY2022 results by admin- Friday, May 20th, 2022 03:44:32 PM
Indigo revenues grew via thirteen.4%yoy to Rs288.4crore, marginally ahead of our expectation of Rs280.3crore.
Gross margins decreased by 305BPS yoy to Rs43.6%. However the equal advanced by 72BPS on sequential foundation in particular because of rate hikes and higher sales blend. The OPM advanced by way of 176BPS to 18.6% higher than our expectation of 15.3%. OPM enlargement may be attributed to decrease media spends at some point of the region.
The operating earnings grew by using 252%yoy to Rs53.8crore and mentioned PAT grew via 39.1percentyoy to Rs34.6crore (beforehand of our expectation of Rs275crore).
View: Indigo paints posted desirable margin overall performance no matter sharp growth in the key enter fees. We trust the organization’s restrained publicity to solvent base paints aided the organization to post better gross margins as compared with Industry.