Overview
Berger Paints (India) Limited has announced its financial results for the quarter ended September 30, 2025 (Q2 FY26). The company reported modest revenue growth alongside a decline in profitability, impacted by extended monsoon conditions and an adverse product mix.
Consolidated Financial Highlights (Q2 FY26 vs Q2 FY25)
| Particulars | Q2 FY26 | Q2 FY25 | Change (YoY) |
| Revenue from Operations | ₹2,827.5 crore | ₹2,774.6 crore | +1.9% |
| EBITDA (excl. other income) | ₹352.3 crore | ₹434.2 crore | -18.9% |
| Net Profit | ₹206.4 crore | ₹269.9 crore | -23.5% |
Standalone Financial Highlights (Q2 FY26 vs Q2 FY25)
| Particulars | Q2 FY26 | Q2 FY25 | Change (YoY) |
| Revenue from Operations | ₹2,458.5 crore | ₹2,430.7 crore | +1.1% |
| EBITDA (excl. other income) | ₹311.2 crore | ₹383.4 crore | -18.8% |
| Net Profit | ₹176.3 crore | ₹229.0 crore | -23.0% |
Management Commentary
Abhijit Roy, Managing Director & CEO of Berger Paints India, stated:
“The extended monsoon season throughout the quarter led to muted demand across most markets. Despite this, we achieved high single-digit volume growth and low positive revenue growth. Based on our estimates, we have continued to improve our market share during April–September 2025 compared to FY25 levels among major listed paint companies.
Profitability was impacted by a negative scale effect, an adverse product mix due to lower exterior product sales, and increased brand-building investments during the quarter.
We registered strong growth in key segments such as waterproofing, construction chemicals, and wood coatings. The automotive and powder coatings segments posted mid-single-digit growth, while protective and general industrial coatings recorded flat performance.
Subsidiaries and joint ventures, including BJN Nepal, SBL Specialty Coatings Pvt. Ltd., and Berger Rock Paints Pvt. Ltd., recorded moderate revenue growth but faced pricing pressures that affected profitability.
The gradual improvement in domestic demand indicators is encouraging, and we expect this trend to continue through the rest of the financial year. However, geopolitical volatility and uncertainties from international tariff negotiations remain potential risks.
Berger Paints will continue to focus on network expansion, innovation, and brand building to deliver long-term value for investors and stakeholders.”
Summary:
Berger Paints India reported stable revenue but lower profitability in Q2 FY26 due to seasonal factors and higher marketing expenses. The company maintained market share gains and highlighted positive trends in demand recovery and key growth segments.
Disclaimer:
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