Indigo Paints share price today: Company logs over 20% fall from highs after listing despite markets nearing historic highs
The market cap of Indigo Paints is over Rs 12500 cr. P/E ratio is close to 173. In the last session on Friday, Indigo paints showed a sharp fall in the share price and was down 9% closing at Rs 2621. Indigo Paints has rapidly scaled up to become the fifth largest player in a competitive, oligopolistic decorative-paints industry in India, delivering organic revenue CAGR of 29% in the past five years.
IIFL Securities forecast FY20-23ii EPS CAGR of 48% for Indigo Paints vs. 14-15% for Asian Paints and Berger Paints, whereas company valuation at 46x FY23 EPS implies a 28-41% discount to both these peers: Reuters