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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹2,868 Cr
verified against source
Revenue YoY
6.7%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Berger Paints delivered a strong Q4 FY26 with standalone volume growth of 11.8% and value growth of 6.7%, driven by healthy traction across decorative and industrial segments. Gross margin expanded to a 12-quarter high of 42.3% and EBITDA margin reached an 10-quarter high of 18.3%, aided by favorable mix, operating leverage, and lower raw material costs. PAT grew 38% including an insurance claim reversal. Management guided for FY27 volume growth to hold at similar levels with value growth outpacing volume due to cumulative price hikes of ~12%. Risks include elevated competitive intensity and potential demand softness from inflation. The new entrant's pricing discipline has improved, supporting industry rationality.
Colored figures show movement against the previous available record.
Guidance to track
- Management has taken three price increases in Q1 and a fourth on May 15, totaling ~12% to offset raw material inflation.
- Volume growth expected to be similar to FY26, with value growth significantly higher due to price hikes.
- Management reiterated the 15-17% EBITDA margin range on a 12-month basis, with potential to exceed temporarily.
- After election-related disruption, Nepal has seen robust double-digit growth in recent months and is expected to recover.
Risks flagged
- Despite improved pricing discipline from new entrants, competitive pressure remains high and could impact market share.
- Sharp rupee depreciation and volatile crude-based derivatives could pressure margins if not fully offset by price hikes.
- Analyst raised concern that 12% price increase could dampen demand; management believes impact will be marginal.
- Analyst noted channel inventory may have risen materially due to pre-buying ahead of price hikes, which could affect future orders.
Key quotes
- We are slightly boring but consistent.
- The new entrant actually spent far far beyond their market share. That's something which is their choice.
- We have not seen this type of increase of 12-13% but we have definitely seen 7-8% price increases at least four-five times earlier.
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