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Pucis Berger Berger Paints India Limited Earnings Update Call , Q1 FY27 Aug 05 , 2026 B Lucis Berger LUXOL METALLICS Since 1700 Lewis Berger Paint your imagination WEATHERCOAT ANTI DUSTI Lucis Berger Paint your imagination EASY CLEAN Silky Touch WASHABLE LUXURY INTERIOR EMULSION Paint your imagina
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Q1 FY27 Performance Summary Standalone Volume growth in high single digits; value growth in doubledigitsDecorative business outperformed with nearly mid-teenvalue growth. Protective, GI and Powder Coatings recordedrelatively lower growth. The Decorative performance wassupported by calibrated price increases implementedthrough the quarterGross margin moderated marginally, primarily due todelayed and partial pass-through of input cost increases inIndustrial business. In Decorative, price increases wereeffective only for part of the quarterDecorative business delivered nearly 20% growth inoperating profit. Consolidated PBDIT margin expanded by~40 bps YoYStandalone and Consolidated PAT increased by ~26% and~29% YoY , respectively
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Home Shield (Construction Chemicals)and Wood Coatings delivered stronggrowthExterior Emulsions did well , while thenewly launched Kolor Plus interioremulsion gained strong traction in thepremium segmentAutomotive Coatings reported healthydouble-digit value growthProtective/GI/Powder growth raterelatively lower due to delayed priceincreases in these categories Q1 FY27 Topline Performance - Standalone 8.412.7 12.6 25.5 Volume Total IncomefromoperationsPBDIT(ExcludingOtherIncome)PAT Q1 Growth %
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Gross Margin % trend QoQ Gross margin moderated YoY due to raw material inflation, with the full-quarter benefitof recent price increases yet to be realized across industrial category 40.0 40.3 40.3 39.3 40.4 39.7 41.2 40.1 39.6 41.2 42.3 39.3 Q2 FY24 Q3 FY24 Q4 FY24 Q1FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
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Operating Margin % trend QoQ Operating margin sustained within the Company's guided range 16.516.714.517.215.816.216.617.412.716.118.317.4 Q2 FY 24 Q3 FY 24 Q4 FY 24 Q1 FY 25 Q2 FY 25 Q3 FY 25 Q4 FY 25 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 Q1 FY 27
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Financial Results - Standalone₹ CroresGrowth%Q1 FY26%Q1 FY2712.7%2,862.6 3,226.7 Total income from operations59.91,715.5 60.71,959.3 Material Cost5.6160.0 5.6180.3 Employee Cost17.0487.6 16.3524.9 Other expenses12.6%17.4499.5 17.4562.2 PBDIT (Excluding Other Income)2.983.1 2.891.1 Depreciation13.1%14.5416.4 14.6471.1 Profit from operation before interest1.027.5 1.239.1 Other Income14.9%15.5444.0 15.8510.3 PBIT 0.411.4 0.310.0 Finance Cost15.6%15.1432.6 15.5500.3 PBT before exceptional Items1.3-36.8 0.0-Exceptional items 26.4%13.8395.8 15.5500.3 Profit before tax3.6102.0 4.1131.6 Taxes25.5%10.3293.8 11.4368.7 PAT 0.0-0.9 -0.1-2.3 Other comprehensive income, net of income tax25.1%10.2292.9 11.4366.4 Total comprehensive income for the period
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Highest growth in the last 12 quarters, with Decorativedelivering ~13.5% value growth, nearly 20% operating profitgrowth with margin expansion. Exterior Emulsionsoutperformed, while Kolor Plus continued to gain strongtraction in the premium interior emulsions segment.Construction Chemicals & Waterproofing delivered robustvolume and value growth ; Roof Kool & Seal continue to gainmomentumWood Coatings reported strong double-digit volume growthStore footprint expanded taking the total count to 1,900+stores as on date, with urban stores alone around ~900++and growingTinting machine installations crossed 2100++for the quarter Decorative Business : Q1 FY27
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Colour Range :Gold Silver Copper LUSTROUS METALLIC SHEEN 4 YEARS OF WARRANTYPU ENRICHED
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VIEW 5
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Financial highlights : Q1 FY27 – Consolidated Consolidated revenue grew ~12%, with slight moderation versusstandalone performance, primarily due to muted revenue growth in whollyowned subsidiaries, Bolix and STP .Operating profit increased ~15%, with consolidated PBDIT marginexpanding by ~40 bps.PBT and PAT grew by 18.1% and 28.6% respectivelyJoint ventures continue to deliver strong growth in both revenue andprofitability.
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Financial Results –Consolidated ₹ Crores Growth%Q1 FY26%Q1 FY2712.0%3,200.8 3,583.8 Total income from operations58.6 1,874.8 59.1 2,118.6 Material Cost6.8 217.4 6.8 245.1 Employee Cost18.1 580.2 17.1 612.7 Other expenses15.0%16.5 528.4 16.9 607.4 PBDIT (Excluding Other Income)2.9 94.0 2.9 103.1 Depreciation16.1%13.6 434.4 14.1 504.4 Profit from operation before interest0.9 28.5 1.1 38.9 Other Income17.4%14.5 462.9 15.2 543.3 PBIT 0.5 14.5 0.3 12.5 Finance Cost18.4%14.0 448.4 14.8 530.8 PBT before share of joint ventures and tax0.3 11.2 0.3 11.8 Share of profit of joint ventures, net of tax 18.1%14.4 459.6 15.1 542.6 Profit before exceptional items and tax1.2 -36.8 --Exceptional items 28.3%13.2 422.8 15.1 542.6 Profit before tax3.4 107.7 3.8 137.6 Taxes28.6%9.8 315.0 11.3 405.0 PAT 0.6 19.3 0.2 8.2 Other comprehensive income, net of income tax23.6%10.4 334.3 11.5 413.2 Total comprehensive income for the period
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Subsidiaries/JV performances BJN Nepal registered double digit value growthBolix (Wholly Owned Subsidiary) reported flattish revenue during the quarter dueto seasonal factors; however, profitability improved driven by gross marginexpansion. UK operations remained subduedSTP delivered improved profitability, supported by favourable product mix,calibrated price increases, and gross margin expansionBNPA JV posted robust growth in revenue and profits. Margins moderated slightlyas the full benefit of price increases is yet to offset higher input costsBerger Becker JV maintained its strong performance trajectory, registeringhealthy revenue growth along with higher operating profits
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Growing Cash surplus (Consolidated) 99211981424 June FY 26 March FY 26 June FY 27 INR Crs
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Business Outlook FY 27Double-digit revenue growth expected to sustain, supported by the full-quarter impactof price increases in Q2, festive demand and distribution expansion. Operatingmargins expected to remain within the guided rangeWell progressing monsoon may support rural sentimentMarket competitiveness expected to stay elevatedSustained investments in brands, innovation and retail activation to strengthenconsumer baseMacro environment remains dynamic with crude oil, currency and geopoliticaldevelopments being closely monitored
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This presentation has been prepared byBerger Paints India Limited for informationpurposes only.The forward looking statements, if any,involve risks, uncertainties and other factorsthat could cause actual results to differmaterially from those suggested by thestatements. DisclaimerDisclaimer