Indigo Paints

TREND ANALYSIS OF INCOME STATEMENT (rs in cr)

Standalone Profit &
------------------- in Rs. Cr. -------------------
Loss account
17-Mar 18-Mar 19-Mar 20-Mar 21-Mar
INCOME

Total Revenue 290.31 414.26 537.25 626.41 726.92

Total Expenses 307.89 410.68 503.23 558.98 629.01

Profit/Loss For The
-15.87 2.57 26.87 47.81 70.85
Period
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE Basic & Diluted
Basic EPS (Rs.) &
-11.1 1.47 15.22 27 31.1
Diluted EPS (Rs.)

70% 77% 86% 86%

75% 82% 90% 89%
 nts
E STATEMENT (rs in cr)
-- in Rs. Cr. -------------------

Remarks

Total revenue increased Y-O-Y for the last 5

years with an average/mean of 80% which
is excellent for any company
Increased 626.41

537.25 558
503.23
Increased
414.26
410.68
NFORMATION
307.89
Basic & Diluted 290.31

Increased 26.8715.22
2.57 1.47

17-Mar 18-Mar 19-Mar 20

-15.87-11.1

Total Revenue Total Expenses

Profit/Loss For The Period Basic EPS (Rs.) & Dilu
 726.92

626.41 629.01

537.25 558.98
503.23

70.85
26.8715.22 47.81 27 31.1

19-Mar 20-Mar 21-Mar

Total Expenses
e Period Basic EPS (Rs.) & Diluted EPS (Rs.)
 Indigo Paints
Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
17-Mar 18-Mar 19-Mar 20-Mar 21-Mar Indigo Paints Bal
Total Capital And Liabilities 246.17 279.38 373.18 421.96 811.16
Total Assets 246.17 279.38 373.18 421.96 811.16 0.5 0.5

0.5 0.5

17-Mar 18-Mar

Total Capital And

Indigo Paints Balance Sheet 2017-21
0.5 0.5 0.5 0.5

0.5 0.5 0.5 0.5

18-Mar 19-Mar 20-Mar 21-Mar

Total Capital And Liabilities Total Assets

 Indigo Paints
COMPARTIVE ANALYSIS OF INCOME STATEMENT
Standalone Profit & Loss account

Indigo Asian Nerolac Indigo Asian Nerolac Indigo

19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar 21-Mar

INCOME
Total Revenue 537.25 626.41 726.92
Total Expenses 503.23 558.98 629.01
Profit/Loss For
26.87 47.81 70.85
The Period
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE Basic & Diluted
Basic EPS (Rs.) &
15.22 27 31.1
Diluted EPS (Rs.)

1,000,000.00

COMPARTIVE ANALYSIS OF INCOME STATEMENT

Standalone Profit & Loss account
Indigo Asian Nerolac Indigo Asian Nerolac Indigo
19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar 21-Mar
INCOME

Total Revenue 537.25 16,676.59 5,235.50 626.41 17,551.63 4,970.03 726.92

Total Expenses 503.23 13,506.34 4,522.09 558.98 14,105.40 4,286.43 629.01

Profit/Loss For
26.87 2,132.17 467.35 47.81 2,653.95 535.40 70.85
The Period

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE Basic & Diluted
Basic EPS (Rs.) &
7.61 22.23 8.67 13.50 27.67 9.94 15.55
Diluted EPS (Rs.)
17,551.63

20,000.00
16,676.59

18,000.00
14,105.40
13,506.34

16,000.00

14,000.00

12,000.00
 17,551.63
20,000.00

16,676.59
18,000.00

14,105.40
13,506.34
16,000.00

14,000.00

12,000.00

10,000.00

5,235.50
8,000.00

4,970.03
4,522.09

4,286.43
6,000.00

2,653.95
2,132.17
4,000.00

626.41
558.98
537.25

535.40
503.23

467.35
2,000.00

47.81
26.87

22.23

27.67
13.50
8.67
7.61

9.94
-
19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar
Indigo Asian Nerolac Indigo Asian Nerolac

Total Revenue Total Expenses Profit/Loss For The Period Basic EPS (Rs.)
o Paints
INCOME STATEMENT (rs in cr)
fit & Loss account

Asian Nerolac Remarks

Total Capital
21-Mar 21-Mar
And Liabilities
Total Assets

NAL INFORMATION
HARE Basic & Diluted

Total Capital
And Liabilities
Total Assets

INCOME STATEMENT (rs in cr)

fit & Loss account
Asian Nerolac Remarks/Inferences 25000
21-Mar 21-Mar

Nerolac Revenue decreased by ~5% Y-O-Y 20000

Indigo Revenue increased by ~14% Y-O-Y (with 14% increase
18,883.18 4,728.71 Y-O-Y continues than Indigo will surpass) Nerolac in 5 years
and Asian in 10 years
Asian Revenue increased by ~5% Y-O-Y 15000

Nerolac Expenses has been decreased by ~5% Y-O-Y

14,792.80 4,003.38 Asian Expenses increased by ~5% Y-O-Y
Indigo Expenses increased by ~10% Y-O-Y 10000

Nerolac - Increased
3,052.51 530.99 Asian - Increased
Indigo - Increased 5000
NAL INFORMATION
373.18

373.18

HARE Basic & Diluted

0
31.82 9.85 Increased 19-Mar
Indigo
18,883.18
17,551.63

14,792.80
14,105.40
 17,551.63
14,105.40

Asian
2,653.95

20-Mar
27.67

s For The Period

4,970.03
4,286.43
535.40

20-Mar
Nerolac
9.94

726.92
629.01
70.85

Indigo
21-Mar
15.55

Basic EPS (Rs.) & Diluted EPS (Rs.)

18,883.1
14,792.80
Asian 3,052.51
21-Mar

31.82

4,728.71
4,003.38
530.99
21-Mar
Nerolac

9.85
 Indigo Paints
Standalone Balance Sheet

Indigo Asian Nerolac Indigo Asian Nerolac Indigo Asian Nerolac

19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar 21-Mar 21-Mar 21-Mar

373.18 421.96 811.16

373.18 421.96 811.16

Comparitive Analysis of Standalone Balance Sheet (in Cr)

Indigo Asian Nerolac Indigo Asian Nerolac Indigo Asian Nerolac

19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar 21-Mar 21-Mar 21-Mar

373.18 16278 4517 421.96 16154 4883 811.16 20369 5533

373.18 16278 4517 421.96 16154 4883 811.16 20369 5533

000

20369
20369
000
16278
16278

16154

16154

000

000
4883

4883
4517

4517

000
811.16

811.16
421.96

421.96
373.18

373.18

0
19-Mar 19-Mar 19-Mar 20-Mar 20-Mar 20-Mar 21-Mar 21-Mar
Indigo Asian Nerolac Indigo Asian Nerolac Indigo Asian

Total Capital And Liabilities Total Assets

 Remarks

r)

Remarks / Inferences

Increased Y-O-Y
Increased Y-O-Y
20369
20369

5533

5533
4883

811.16

811.16

-Mar 21-Mar 21-Mar 21-Mar

rolac Indigo Asian Nerolac
Year Value
2017 1.25
2018 1.17
2019 1.12
2020 1.14
2021 2.37
Net Pro
Ne
12
10
9.79
8
Year 2021 2020 2019 2018 2017 6
7.65
Net Profit 4
Margin 9.79 7.65 5.01 0.62 -5.48 2
(%)
0
2021 2020
-2
-4
-6
-8
Year 2021 2020 2019 2018 2017
Return on
Assets 8.73 11.33 7.2 0.91 -6.44
(%)

Return on
Return o
15

10 11.33
8.73
5

0
2021 2020

-5

-10

Asset Turno
Asset Turn
160
Year 2021 2020 2019 2018 2017 Asset Turno
Asset Asset Turn
Turnover 89.17 148.06 143.52 148.11 117.48
Ratio (%) 160
140 148.06
120
100
80 89.17

60
Year 2021 2020 2019 2018 2017
40
Inventory
Turnover 7.64 8.14 7.73 8.15 6.08 20
Ratio (X) 0
2021 2020

Inventory Turn
Inventory Tu
9
8
8.14
7 7.64

6
5
4
3
2
1
0
2021 2020 2
 Net Profit Margin (%)
Net Profit Margin (%)

9.79
7.65

5.01

0.62
2021 2020 2019 2018 2017

-5.48

Return on Assets (%)

Return on Assets (%)

11.33
8.73
7.2

0.91
2021 2020 2019 2018 2017

-6.44

Asset Turnover Rati o (%)

Asset Turnover Ratio (%)
 Asset Turnover Rati o (%)
Asset Turnover Ratio (%)

148.06 143.52 148.11

117.48

89.17

2021 2020 2019 2018 2017

Inventory Turnover Rati o (X)

Inventory Turnover Ratio (X)

8.14 8.15
.64 7.73

6.08

021 2020 2019 2018 2017

 Liquidity Ratios
Current Ratio Curren
Year Indigo Asian Nerolac Remarks
2019 1.12 1.47 2.44
Indigo increased 2.37
2020 1.14 1.73 2.71 Asian increased
2021 2.37 2.03 2.56 Nerolac decreased 1.47
1
Quick ratio 1.12 1.14

Year Indigo Asian Nerolac Remarks

2019 0.75 0.86 1.27 Indigo As
Indigo increased
2020 0.73 0.96 1.61 Asian increased 2019 2
2021 1.96 1.39 1.6 Nerolac no change

Solvency Ratio D/E R

D/E Ratio
Year Indigo Asian Nerolac Remarks 0.47
2019 0.47 0.07 0.03 it should not be above a level of
2020 0.32 0.03 0.05 2.0 and here Indigo is nearing 0.5
indicating increase in debts 0.35
2021 0.35 0.03 0.04 0.32
Interest Coverage Ratio
Year Indigo Asian Nerolac Remarks
2019 10.4 32.07 70.89
Indigo increased
2020 14.82 36.02 32.9 Asian increased 0.07
2021 17.43 47.66 31.01 Nerolac Decreased 0.0
Indigo Asia

Profitability Ratios 2019 20

Net Profit Margin
Year Indigo Asian Nerolac Remarks Interest Cove
2019 5.01 11.26 8.25
Indigo increased more
2020 7.65 13.47 9.76 Asian increased
2021 9.79 14.63 10.36 Nerolac Decreased
Return On Assets
36.02
Year Indigo Asian Nerolac Remarks 32.07
2019 7.2 13.24 10.02 10.4
14.82 17.43
Reduced for all due to the COVID
2020 11.33 16.74 10.66 situation Indigo Asian
2021 8.73 15.41 9.57 2019 2020

Efficiency Ratio
Asset Turnover Ratio
Year Indigo Asian Nerolac Remarks
Return on As
2019 143.52 118.19 120.06
Reduced for all due to the COVID 16.74
2020 148.06 125.11 108.11 situation
2021 89.17 106.59 91.7
13.24
Inventory Turnover Ratio 11.33

8.73
7.2
 16.74

13.24
11.33
Year Indigo Asian Nerolac Remarks
8.73
2019 7.73 6.11 4.88 7.2
Reduced for all due to the COVID
2020 8.14 5.96 5.24 situation
2021 7.64 5.72 4.24

Indigo Asian

2019 2020

Asset Turnover Ratio

143.52 148.06
125.11 120.06
118.19
106.59 108.11
89.17 91.7

Indigo Asian Nerolac

2019 2020 2021

Inventory Turnover Ratio

8.14
7.73 7.64

6.11 5.96 5.72

5.24
4.88
4.24

Indigo Asian Nerolac

2019 2020 2021

Indigo Asian Nerolac

2019 2020 2021

 Current Ratio
Quick Ratio
2.71 2.56
2.37 2.44
2.03
1.73
1.47 1.96
1.14

1.39
1.27
digo Asian Nerolac
0.96
0.86
2019 2020 2021 0.75 0.73

Indigo Asian
D/E Ratio 2019 2020 2021

0.35
32

0.07
0.05 0.04
0.03 0.03 0.03
go Asian Nerolac

2019 2020 2021

Interest Coverage Ratio

70.89

47.66
32.07 36.02 32.9 31.01
2 17.43

o Asian Nerolac

2019 2020 2021

Return on Asset Ratio Net Profit Margin

16.74
15.41 14.63
13.47
13.24
11.26
10.66
10.02 9.57 9.79
8.73 8.25
7.65

5.01
 16.74
15.41 14.63
13.47
13.24
11.26
10.66
10.02 9.57 9.79
8.73 8.25
7.65

5.01

o Asian Nerolac
Indigo Asian
2019 2020 2021
2019 2020 2021
Quick Ratio

1.61 1.6
1.39
1.27
0.96
0.86

Asian Nerolac

2019 2020 2021

t Profit Margin
14.63
13.47

11.26
10.36
9.76
8.25
 14.63
13.47

11.26
10.36
9.76
8.25

Asian Nerolac

2019 2020 2021