BERGEPAINTBerger Paints India Ltd.
Berger Paints India Q2 FY27 Results: Consolidated Net Profit ₹217 Crore on Total Income of ₹3,232 Crore
- Earnings
- Paints and coatings
Reviewed byRachit TripathiBlacklitt Research
Berger Paints India (NSE: BERGEPAINT) reported consolidated total income of ₹3,232.09 crore and consolidated net profit of ₹217.10 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹2,781.19 crore and standalone net profit ₹163.31 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹3,232.09 crore, up 13.3% YoY and down 10.8% QoQ
- Net profit and EPS: ₹217.10 crore, up 5.2% YoY; basic EPS ₹1.86
- Finance costs: ₹16.54 crore, down 4.9% YoY and up 32.7% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,781.19 crore, up 12.1% YoY and down 14.8% QoQ
- Net profit and EPS: ₹163.31 crore, down 7.3% YoY; basic EPS ₹1.40
- Finance costs: ₹13.70 crore, down 0.8% YoY and up 37.6% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,232.09 | 2,853.49 | +13.3% | 3,622.65 | -10.8% | |
| Revenue from operations | 3,200.37 | 2,827.49 | +13.2% | 3,583.75 | -10.7% |
| Other income | 31.72 | 26.00 | +22.0% | 38.90 | -18.5% |
| 217.10 | 206.38 | +5.2% | 405.01 | -46.4% | |
| Profit before tax | 285.32 | 274.61 | +3.9% | 542.59 | -47.4% |
| Finance costs | 16.54 | 17.39 | -4.9% | 12.46 | +32.7% |
| Depreciation | 108.58 | 97.05 | +11.9% | 103.06 | +5.4% |
| Tax expense | 68.22 | 68.23 | 0.0% | 137.58 | -50.4% |
| Net profit margin | 6.72% | 7.23% | -0.52 pp | 11.18% | -4.46 pp |
| EPS, basic (₹) | 1.86 | 1.77 | +5.1% | 3.47 | -46.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew more slowly than income. Total income rose 13.3% year on year to ₹3,232.09 crore, while net profit rose 5.2% to ₹217.10 crore. Profit before tax grew 3.9%, and the tax expense was flat at ₹68.22 crore against ₹68.23 crore a year earlier, so the tax charge was 23.9% of profit before tax this quarter.
Other income of ₹31.72 crore is 1.0% of total income and 11.1% of profit before tax, so the quarter's profit rests mainly on operating income. Revenue from operations rose 13.2%, while other income rose 22.0%. Depreciation rose 11.9% to ₹108.58 crore.
Against the June quarter the picture reverses. Net profit fell 46.4% from ₹405.01 crore, more than total income, which fell 10.8%. The June quarter's tax expense was ₹137.58 crore, and the company's press release gives an operating profit growth figure of 5.2%, with EBITDA excluding other income of ₹370.7 crore against ₹352.3 crore a year earlier.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,781.19 | 2,481.94 | +12.1% | 3,265.82 | -14.8% | |
| Revenue from operations | 2,750.06 | 2,458.47 | +11.9% | 3,226.68 | -14.8% |
| Other income | 31.13 | 23.47 | +32.6% | 39.14 | -20.5% |
| 163.31 | 176.25 | -7.3% | 368.68 | -55.7% | |
| Profit before tax | 218.18 | 234.93 | -7.1% | 500.29 | -56.4% |
| Finance costs | 13.70 | 13.81 | -0.8% | 9.96 | +37.6% |
| Depreciation | 96.79 | 85.92 | +12.7% | 91.11 | +6.2% |
| Tax expense | 54.87 | 58.68 | -6.5% | 131.61 | -58.3% |
| Net profit margin | 5.87% | 7.10% | -1.23 pp | 11.29% | -5.42 pp |
| EPS, basic (₹) | 1.40 | 1.51 | -7.3% | 3.16 | -55.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 7.3% year on year to ₹163.31 crore while total income rose 12.1%. Profit before tax fell 7.1% to ₹218.18 crore, and the tax expense of ₹54.87 crore was 25.1% of profit before tax.
Other income of ₹31.13 crore is 14.3% of profit before tax, and rose 32.6% year on year. Standalone EBITDA excluding other income was ₹297.5 crore against ₹311.2 crore a year earlier, a decline of 4.4%, which the company links to a sharp rise in raw material costs and increased advertisement spend for its Rang Bana Rahe campaign.
The company's standalone figures for the half year show EBITDA excluding other income of ₹859.8 crore, up 6.1%, and net profit of ₹532.0 crore, up 13.2%. The reason for the consolidated rise in finance costs is not given in the filing.
Inference
The board approved the standalone and consolidated results on 5 Nov 2026, and the limited review reports by BSR & Co. LLP state that nothing has come to their attention indicating material misstatement. The exceptional item of ₹36.81 crore in the year-earlier quarter related to a fire at a Barasat warehouse, and the insurance claim proceeds were realised in the quarter ended 30 Sep 2026.
The company paid dividends of ₹466.40 crore standalone and ₹466.41 crore consolidated in the six months to 30 Sep 2026. The company says it will implement further rounds of price increases in November and beyond as required, and the filing does not say how large those increases will be or how much raw material cost they are expected to recover.
Filed with BSE on . Reference: Original filing (PDF)
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