Berger Paints (I)

Berger Paints delivered a strong Q4 FY26 with standalone volume growth of 11.8%Current 11.8%. Reported change: +11.8% YoY. and value growth of 6.7%Current reported value: 6.7%. No comparable prior figure is available in the source record., driven by healthy traction across decorative and industrial segments. Gross margin expanded to a 12-quarter high of 42.3%Current 42.3%. Reported change: +110bps YoY. and EBITDA margin reached a 10-quarter high of 18.3%Current 18.3% vs previous available quarter 16.1%., supported by favorable mix, operating leverage, and lower raw material costs. PAT grew 38%Current reported value: 38%. No comparable prior figure is available in the source record. YoY, aided by an insurance claim reversal. Management highlighted that cumulative price hikes of ~11-12% should offset raw material inflation, with minimal volume impact expected. Competitive intensity remains elevated but stable, as the new entrant has narrowed price gaps. Key risks include potential demand softness from inflation and rupee depreciation. Guidance for FY27 is cautiously optimistic, with EBITDA margins expected to stay within the 15-17% range.