Earnings Review
Berger paints Q2 PAT dn on muted sales, misses Street view
This story was originally published at 17:54 IST on 4 November 2025
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--Berger Paints Jul-Sept consol net profit INR 2.06 bln
--Analysts saw Berger Paints Jul-Sept consol net profit INR 2.71 bln
--Berger Paints Jul-Sept consol revenue INR 28.27 bln
--Analysts saw Berger Paints Jul-Sept consol revenue INR 28.70 bln
--Berger Paints Jul-Sept consol PAT INR 2.06 bln vs INR 2.70 bln year ago
--Berger Paints Q2 consol revenue INR 28.27 bln vs INR 27.75 bln yr ago
--Berger Paints Apr-Sept consol PAT INR 5.21 bln vs INR 6.23 bln year ago
--Berger Paints Apr-Sept consol sales INR 60.28 bln vs INR 58.66 bln yr ago
By Udita S. Jaiswal
MUMBAI – Berger Paints India Ltd. reported a low single-digit growth in its consolidated net sales during the September quarter due to heavy rains, which usually weaken demand for paints. This significantly reduced the company's consolidated net profit. Both revenue and profit have missed analysts' estimates.
Berger Paints' consolidated net profit for the September quarter was INR 2.06 billion, down nearly 24% on year. Analysts had estimated net profit at INR 2.71 billion. The company's net sales grew nearly 2% year on year to INR 28.27 billion, below the analysts' estimate of INR 28.70 billion. Sequentially, the bottom line was down by over 34%, while the top line fell by nearly 12%.
The company's total expenses rose to INR 25.90 billion, up nearly 6% on year from INR 24.46 billion in the year-ago quarter. The company's total expenses rose, driven by employee benefits expense and other expenses, which were up 11% and over 15% on year, respectively.
In Apr-Sept, the first half of the year, the company's revenue from operations rose nearly 3% to INR 60.28 billion, while its net profit fell over 16% on year at INR 5.21 billion.
The company expects demand to pick up, supported by improving weather and the release of pent-up demand following the extended monsoon. Gross margin is expected to improve in the short term, aided by soft raw material prices and improving product mix.
The company's decorative paints segment reported muted growth due to prolonged monsoon conditions impacting premium markets, while Berger Paints' construction and wood coatings segment registered healthy growth.
Of the six arms of the company, four reported strong net sales growth in the September quarter. Tuesday, the company's shares ended 0.3% lower at INR 537.45 on the National Stock Exchange. End
Edited by Saji George Titus
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