Past 10 year's financial track record analysis by Moneyworks4me indicates that Berger Paints India Ltd is a good quality company.
The key valuation ratios of Berger Paints India Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Berger Paints India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 25.2% | 31% | 34.1% | 29.6% | 29.1% | 30.2% | 29.4% | 28.1% | 25.6% | 30.2% | - |
| Value Creation Index ⓘ | 0.9 | 1.3 | 2.0 | 1.6 | 1.6 | 1.7 | 1.6 | 1.5 | 1.3 | 1.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 4,322 | 4,223 | 4,552 | 5,166 | 6,062 | 6,366 | 6,818 | 8,762 | 10,568 | 11,199 | 11,268 |
| Sales YoY Gr. | - | -2.3% | 7.8% | 13.5% | 17.4% | 5% | 7.1% | 28.5% | 20.6% | 6% | - |
| Adj EPS ⓘ | 2.3 | 3.2 | 3.8 | 4 | 4.4 | 5.7 | 6.3 | 7.1 | 7.5 | 10 | 9.8 |
| YoY Gr. | - | 38.5% | 17% | 4.2% | 10.1% | 30.8% | 9.8% | 13.9% | 5.3% | 33.7% | - |
| BVPS (₹) ⓘ | 10.8 | 13.4 | 16.3 | 18.8 | 21 | 22.8 | 29 | 33.6 | 38.5 | 46.1 | 48 |
| Adj Net Profit ⓘ | 272 | 377 | 442 | 461 | 507 | 663 | 728 | 830 | 874 | 1,169 | 1,145 |
| Cash Flow from Ops. ⓘ | 414 | 595 | 395 | 422 | 611 | 725 | 796 | 567 | 976 | 1,591 | - |
| Debt/CF from Ops. ⓘ | 1.5 | 0.6 | 1 | 1 | 0.9 | 0.7 | 0.5 | 1.2 | 0.8 | 0.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.2% | 13.1% | 18% | 6% | ||||
| Adj EPS ⓘ | 17.6% | 18.2% | 17.1% | 33.7% | ||||
| BVPSⓘ | 17.5% | 17.1% | 16.8% | 19.7% | ||||
| Share Price | 15.8% | 3.1% | -10.8% | -20% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 22.9 | 26.7 | 25.5 | 22.5 | 21.9 | 26 | 24.1 | 22.7 | 20.8 | 23.7 | 20.9 |
| Op. Profit Mgn % ⓘ | 12.1 | 15.4 | 15.8 | 15.6 | 15.7 | 16.8 | 17.6 | 15.3 | 14.3 | 16.7 | 15.9 |
| Net Profit Mgn % ⓘ | 6.3 | 8.9 | 9.7 | 8.9 | 8.4 | 10.4 | 10.7 | 9.5 | 8.3 | 10.5 | 10.2 |
| Debt to Equity ⓘ | 0.5 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0 | 0 |
| Working Cap Days ⓘ | 104 | 109 | 133 | 182 | 192 | 173 | 189 | 193 | 184 | 181 | 77 |
| Cash Conv. Cycle ⓘ | 50 | 48 | 44 | 48 | 49 | 35 | 31 | 36 | 37 | 36 | 35 |
Sales growth is growing at healthy rate in last 3 years 17.99%
Net Profit is growing at healthy rate in last 3 years 17.08%
Return on Equity has declined versus last 3 years average to 20.90%
Sales growth is not so good in last 4 quarters at 3.11%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 8.4 | 9.8 |
| TTM Sales (₹ Cr.) | 10,060 | 11,268 |
| BVPS (₹.) ⓘ | 44 | 48 |
| Reserves (₹ Cr.) ⓘ | 5,017 | 5,474 |
| P/BV ⓘ | 10.81 | 9.92 |
| PE ⓘ | 56.66 | 48.46 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 439.55 / 629.60 |
| All Time Low / High (₹) | 0.34 / 726.67 |
| Market Cap (₹ Cr.) | 55,486 |
| Equity (₹ Cr.) | 116.6 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 51 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,322 | 4,223 | 4,552 | 5,166 | 6,062 | 6,366 | 6,818 | 8,762 | 10,568 | 11,199 |
| Operating Expenses ⓘ | 3,811 | 3,583 | 3,835 | 4,361 | 5,128 | 5,305 | 5,630 | 7,431 | 9,081 | 9,338 |
| Manufacturing Costs | 659 | 701 | 771 | 827 | 971 | 978 | 1,183 | 1,488 | 1,653 | 1,682 |
| Material Costs | 2,232 | 2,159 | 2,250 | 2,630 | 3,251 | 3,288 | 3,393 | 4,743 | 5,972 | 5,929 |
| Employee Cost | 253 | 267 | 298 | 347 | 398 | 453 | 485 | 543 | 609 | 713 |
| Other Costs ⓘ | 667 | 456 | 516 | 558 | 509 | 587 | 569 | 656 | 846 | 1,013 |
| Operating Profit ⓘ | 511 | 640 | 717 | 805 | 934 | 1,061 | 1,188 | 1,331 | 1,487 | 1,861 |
| Operating Profit Margin (%) | 11.8% | 15.2% | 15.7% | 15.6% | 15.4% | 16.7% | 17.4% | 15.2% | 14.1% | 16.6% |
| Other Income ⓘ | 36 | 38 | 55 | 46 | 60 | 69 | 51 | 65 | 52 | 64 |
| Interest ⓘ | 50 | 27 | 16 | 25 | 47 | 47 | 44 | 51 | 99 | 78 |
| Depreciation ⓘ | 93 | 97 | 106 | 122 | 180 | 191 | 211 | 227 | 264 | 331 |
| Exceptional Items ⓘ | 0 | 0 | 44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 404 | 559 | 703 | 705 | 765 | 883 | 979 | 1,122 | 1,162 | 1,557 |
| Tax ⓘ | 139 | 189 | 229 | 244 | 271 | 227 | 259 | 289 | 302 | 387 |
| Profit After Tax | 265 | 371 | 474 | 461 | 494 | 656 | 720 | 833 | 860 | 1,170 |
| PAT Margin (%) | 6.1% | 8.8% | 10.4% | 8.9% | 8.1% | 10.3% | 10.6% | 9.5% | 8.1% | 10.4% |
| Adjusted EPS (₹) | 2.3 | 3.2 | 4.1 | 4.0 | 4.2 | 5.6 | 6.2 | 7.2 | 7.4 | 10.0 |
| Dividend Payout Ratio (%) | 33% | 31% | 36% | 38% | 37% | 32% | 38% | 36% | 36% | 35% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1,259 | 1,561 | 1,901 | 2,192 | 2,441 | 2,658 | 3,374 | 3,920 | 4,490 | 5,374 |
| Share Capital ⓘ | 69 | 69 | 97 | 97 | 97 | 97 | 97 | 97 | 97 | 117 |
| Reserves ⓘ | 1,189 | 1,492 | 1,804 | 2,095 | 2,344 | 2,561 | 3,277 | 3,823 | 4,392 | 5,257 |
| Minority Interest | 0 | 0 | 0 | 0 | 3 | 7 | 7 | 7 | 8 | 10 |
| Debt | 609 | 310 | 406 | 422 | 484 | 536 | 376 | 602 | 765 | 203 |
| Long Term Debt | 251 | 211 | 262 | 249 | 239 | 243 | 166 | 10 | 8 | 6 |
| Short Term Debt | 358 | 99 | 144 | 173 | 245 | 293 | 210 | 592 | 757 | 197 |
| Trade Payables | 560 | 670 | 761 | 955 | 999 | 1,066 | 1,497 | 1,803 | 1,766 | 1,679 |
| Others Liabilities ⓘ | 289 | 336 | 979 | 1,327 | 1,833 | 2,063 | 2,356 | 3,144 | 3,243 | 3,741 |
| Total Liabilities ⓘ | 2,716 | 2,877 | 4,047 | 4,897 | 5,761 | 6,330 | 7,610 | 9,476 | 10,272 | 11,007 |
Fixed Assets | ||||||||||
| Gross Block | 1,461 | 1,048 | 1,310 | 1,571 | 1,971 | 2,452 | 2,734 | 2,955 | 4,324 | 4,735 |
| Accumulated Depreciation | 531 | 85 | 174 | 304 | 388 | 536 | 690 | 768 | 992 | 1,235 |
| Net Fixed Assetsⓘ | 931 | 963 | 1,136 | 1,267 | 1,583 | 1,916 | 2,044 | 2,187 | 3,332 | 3,500 |
| CWIP ⓘ | 100 | 51 | 62 | 97 | 170 | 178 | 107 | 606 | 111 | 189 |
| Investmentsⓘ | 134 | 348 | 472 | 333 | 395 | 315 | 356 | 234 | 183 | 255 |
| Inventories | 719 | 733 | 935 | 1,007 | 1,234 | 1,278 | 1,616 | 2,316 | 2,319 | 2,180 |
| Trade Receivables | 535 | 545 | 578 | 692 | 671 | 714 | 1,020 | 1,054 | 1,243 | 1,302 |
| Cash Equivalents | 170 | 105 | 102 | 205 | 238 | 220 | 440 | 313 | 245 | 451 |
| Others Assetsⓘ | 126 | 131 | 761 | 1,295 | 1,470 | 1,708 | 2,028 | 2,767 | 2,840 | 3,131 |
| Total Assets ⓘ | 2,716 | 2,877 | 4,047 | 4,897 | 5,761 | 6,330 | 7,610 | 9,476 | 10,272 | 11,007 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 414 | 595 | 395 | 422 | 611 | 725 | 796 | 567 | 976 | 1,591 |
| PBT ⓘ | 404 | 559 | 703 | 705 | 765 | 883 | 979 | 1,122 | 1,162 | 1,557 |
| Adjustment ⓘ | 120 | 100 | 38 | 122 | 181 | 204 | 238 | 241 | 380 | 353 |
| Changes in Working Capital ⓘ | 12 | 114 | -128 | -128 | -92 | -100 | -168 | -498 | -259 | 30 |
| Tax Paid ⓘ | -122 | -178 | -220 | -277 | -243 | -263 | -252 | -299 | -308 | -349 |
| Cash Flow From Investing Activity ⓘ | -184 | -259 | -308 | -183 | -379 | -223 | -457 | -521 | -600 | -398 |
| Capex | -160 | -118 | -264 | -290 | -291 | -431 | -185 | -760 | -744 | -271 |
| Net Investments | -38 | -148 | -37 | 99 | -64 | 190 | -290 | 213 | 131 | -106 |
| Others ⓘ | 15 | 6 | -7 | 7 | -23 | 17 | 18 | 25 | 13 | -21 |
| Cash Flow From Financing Activityⓘ | -198 | -368 | -82 | -200 | -259 | -479 | -282 | -78 | -363 | -1,069 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 10 | 0 | 0 | 0 | 0 | 0 | -74 | -156 | -66 | -1 |
| Interest Paid ⓘ | -45 | -27 | -16 | -25 | -30 | -31 | -25 | -23 | -61 | -36 |
| Dividend Paid ⓘ | -138 | -99 | -117 | -205 | -211 | -382 | -29 | -272 | -301 | -311 |
| Others ⓘ | -24 | -241 | 51 | 29 | -18 | -66 | -153 | 372 | 66 | -721 |
| Net Cash Flow ⓘ | 32 | -32 | 4 | 38 | -27 | 22 | 57 | -33 | 12 | 124 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.3 | 26.29 | 27.36 | 22.52 | 21.32 | 25.73 | 23.86 | 22.84 | 20.46 | 23.72 |
| ROCE (%) | 25.15 | 30.98 | 34.06 | 29.62 | 29.12 | 30.2 | 29.44 | 28.1 | 25.6 | 30.15 |
| Asset Turnover Ratio | 1.79 | 1.68 | 1.46 | 1.18 | 1.14 | 1.23 | 1.16 | 1.19 | 1.26 | 1.24 |
| PAT to CFO Conversion(x) | 1.56 | 1.6 | 0.83 | 0.92 | 1.24 | 1.11 | 1.11 | 0.68 | 1.13 | 1.36 | Working Capital Days |
| Receivable Days | 39 | 42 | 41 | 44 | 41 | 34 | 39 | 37 | 34 | 35 |
| Inventory Days | 54 | 57 | 60 | 67 | 67 | 61 | 65 | 70 | 68 | 62 |
| Payable Days | 72 | 81 | 95 | 102 | 94 | 97 | 123 | 115 | 98 | 95 |
The driving forces of Berger Paints - reflect the very spirit of its founder Lewis Berger - who laid the foundations of brand Berger way back in 1760 in the UK. With modest beginnings in India in 1923, today, Berger Paints India is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint companies, quarter on quarter, for the past few years. Starting out as Hadfield's (India), it had just one factory in Howrah, West Bengal. By the close of 1947, Hadfield's was acquired by British Paints (Holdings), UK and came to be known as British Paints (India). In 1983, the name of the company was changed to Berger Paints India. Currently, the majority stake is with the Delhi based Dhingra brothers.
Berger Paints has established itself through a long course of time. The company is acclaimed as a game changer in the sector with a vibrant portfolio of paints and tailor-made customer services in every paint segment. It has consistently outperformed its competitors in the past few years and is on its way to be on the top spot. Berger Paints India is headquartered at Kolkata, with strategically located manufacturing units across India (including the subsidiaries).
Business area of the company
Berger Paints India is the second largest paint company in India and has established itself as a trusted name in the paint industry, not only in India but across the globe.
Products:
Awards and Accolades:
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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