Berger Paints India Ltd - Stock Valuation and Financial Performance

BSE: 509480 | NSE: BERGEPAINT | Paints | Mid Cap

Berger Paints India Share Price

525.75 2.70 0.52%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Berger Paints India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Berger Paints India stock performance -

mw4me loader
P/E Ratio (CD):
52.51
Market Cap:
61,315 Cr.
52-wk low:
439.6
52-wk high:
679.1

Is Berger Paints India Ltd an attractive stock to invest in?

1. Is Berger Paints India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Berger Paints India Ltd is a good quality company.

2. Is Berger Paints India Ltd undervalued or overvalued?

The key valuation ratios of Berger Paints India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Berger Paints India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Berger Paints India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Berger Paints India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Berger Paints India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 17.6%17%20.9%21.5%19.4%19.4%22.6%21.8%20.7%19.1%-
Value Creation
Index
0.30.30.60.90.70.71.00.90.80.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,8704,3224,2234,5525,1666,0626,3666,8188,76210,56811,199
Sales YoY Gr.-11.7%-2.3%7.8%13.5%17.4%5%7.1%28.5%20.6%-
Adj EPS 2.22.33.23.844.45.76.37.17.510
YoY Gr.-7.3%38.5%17%4.2%10.1%30.8%9.8%13.9%5.3%-
BVPS (₹) 9.610.813.416.318.82122.82933.638.546.1
Adj Net
Profit
2532723774424615076637288308741,168
Cash Flow from Ops. 310414595395422611725796567976-
Debt/CF from Ops. 21.50.6110.90.70.51.20.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.8%15.4%18.4%20.6%
Adj EPS 14.7%13.7%9.6%5.3%
BVPS16.7%15.4%19.1%14.5%
Share Price 20% 15.3% -9% -4.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
24.422.926.725.522.521.92624.122.720.823.7
Op. Profit
Mgn %
11.312.115.415.815.615.716.817.615.314.316.6
Net Profit
Mgn %
6.66.38.99.78.98.410.410.79.58.310.4
Debt to
Equity
0.60.50.20.20.20.20.20.10.20.20
Working Cap
Days
10710410913318219217318919318476
Cash Conv.
Cycle
5450484448493531363730

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 23.70%

Sales growth is growing at healthy rate in last 3 years 18.41%

Net Profit has been subdued in last 3 years 9.64%

Sales growth is not so good in last 4 quarters at 5.88%

Latest Financials - Berger Paints India Ltd.

Standalone Consolidated
TTM EPS (₹) 8.7 10
TTM Sales (₹ Cr.) 10,003 11,199
BVPS (₹.) 42.9 46.1
Reserves (₹ Cr.) 4,889 5,262
P/BV 12.25 11.40
PE 60.41 52.51
From the Market
52 Week Low / High (₹) 439.55 / 679.05
All Time Low / High (₹) 0.34 / 726.67
Market Cap (₹ Cr.) 61,315
Equity (₹ Cr.) 116.6
Face Value (₹) 1
Industry PE 48.4

Management X-Ray of Berger Paints India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Berger Paints India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales3,8704,3224,2234,5525,1666,0626,3666,8188,76210,568
Operating Expenses 3,4383,8113,5833,8354,3615,1285,3055,6307,4319,081
Manufacturing Costs5806597017718279719781,1831,4881,653
Material Costs2,0832,2322,1592,2502,6303,2513,2883,3934,7435,972
Employee Cost 225253267298347398453485543609
Other Costs 550667456516558509587569656846
Operating Profit 4315116407178059341,0611,1881,3311,487
Operating Profit Margin (%) 11.1%11.8%15.2%15.7%15.6%15.4%16.7%17.4%15.2%14.1%
Other Income 36363855466069516552
Interest 47502716254747445199
Depreciation 719397106122180191211227264
Exceptional Items 00044000000
Profit Before Tax 3504045597037057658839791,1221,162
Tax 101139189229244271227259289302
Profit After Tax 249265371474461494656720833860
PAT Margin (%) 6.4%6.1%8.8%10.4%8.9%8.1%10.3%10.6%9.5%8.1%
Adjusted EPS (₹)2.12.33.24.14.04.25.66.27.27.4
Dividend Payout Ratio (%)31%33%31%36%38%37%32%38%36%36%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,1171,2591,5611,9012,1922,4412,6583,3743,9204,490
Share Capital 69696997979797979797
Reserves 1,0481,1891,4921,8042,0952,3442,5613,2773,8234,392
Minority Interest0000037778
Debt528609310406422484536376602765
Long Term Debt147251211262249239243166108
Short Term Debt38135899144173245293210592757
Trade Payables5445606707619559991,0661,4971,8031,766
Others Liabilities 4052893369791,3271,8332,0632,3563,1443,243
Total Liabilities 2,5952,7162,8774,0474,8975,7616,3307,6109,47610,272

Fixed Assets

Gross Block1,3221,4611,0481,3101,5711,9712,4522,7342,9554,324
Accumulated Depreciation45853185174304388536690768992
Net Fixed Assets8649319631,1361,2671,5831,9162,0442,1873,332
CWIP 133100516297170178107606111
Investments 91134348472333395315356234183
Inventories6967197339351,0071,2341,2781,6162,3162,319
Trade Receivables4865355455786926717141,0201,0541,243
Cash Equivalents 184170105102205238220440313245
Others Assets1421261317611,2951,4701,7082,0282,7672,840
Total Assets 2,5952,7162,8774,0474,8975,7616,3307,6109,47610,272

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 310414595395422611725796567976
PBT 3504045597037057658839791,1221,162
Adjustment 8812010038122181204238241381
Changes in Working Capital -2612114-128-128-92-100-168-498-259
Tax Paid -102-122-178-220-277-243-263-252-299-308
Cash Flow From Investing Activity -301-184-259-308-183-379-223-457-521-600
Capex -242-160-118-264-290-291-431-185-760-744
Net Investments -79-38-148-3799-64190-290213131
Others 20156-77-2317182513
Cash Flow From Financing Activity -52-198-368-82-200-259-479-282-78-363
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 61000000-74-156-66
Interest Paid -42-45-27-16-25-30-31-25-23-61
Dividend Paid -62-138-99-117-205-211-382-29-272-301
Others 47-24-2415129-18-66-15337266
Net Cash Flow -4332-32438-272257-3313
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)24.1422.326.2927.3622.5221.3225.7323.8622.8420.46
ROCE (%)24.4425.1530.9834.0629.6229.1230.229.4428.125.6
Asset Turnover Ratio1.781.791.681.461.181.141.231.161.191.26
PAT to CFO Conversion(x)1.241.561.60.830.921.241.111.110.681.13
Working Capital Days
Receivable Days39394241444134393734
Inventory Days57545760676761657068
Payable Days67728195102949712311598

Berger Paints India Ltd Stock News

Berger Paints India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Berger Paints India on 12-Jul-2024 16:01 is ₹525.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of Berger Paints India stood at ₹61,315.
The latest P/E ratio of Berger Paints India as of 12-Jul-2024 16:01 is 60.41.
The latest P/B ratio of Berger Paints India as of 12-Jul-2024 16:01 is 12.25.
The 52-week high of Berger Paints India is ₹679.0 and the 52-week low is ₹439.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Berger Paints India is ₹10,003 ( Cr.) .

About Berger Paints India Ltd

The driving forces of Berger Paints - reflect the very spirit of its founder Lewis Berger - who laid the foundations of brand Berger way back in 1760 in the UK. With modest beginnings in India in 1923, today, Berger Paints India is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint companies, quarter on quarter, for the past few years. Starting out as Hadfield's (India), it had just one factory in Howrah, West Bengal. By the close of 1947, Hadfield's was acquired by British Paints (Holdings), UK and came to be known as British Paints (India). In 1983, the name of the company was changed to Berger Paints India. Currently, the majority stake is with the Delhi based Dhingra brothers.

Berger Paints has established itself through a long course of time. The company is acclaimed as a game changer in the sector with a vibrant portfolio of paints and tailor-made customer services in every paint segment. It has consistently outperformed its competitors in the past few years and is on its way to be on the top spot. Berger Paints India is headquartered at Kolkata, with strategically located manufacturing units across India (including the subsidiaries).

Business area of the company

Berger Paints India is the second largest paint company in India and has established itself as a trusted name in the paint industry, not only in India but across the globe.

Products:

  • Product Finder
  • Interior Wall Coatings
  • Exterior Wall Coatings
  • Do It Yourself (DIY)
  • Exterior Textures
  • Metal Finishes
  • Wood Finishes
  • Glass Finishes
  • Undercoats
  • Waterproofing Solutions
  • ETICS
  • Price List

Awards and Accolades:

  • 2005: Best Supplier Award Outstanding contribution in Product Development OEM customer Whirlpool - 2005, Faridabad.
  • 2008: Reader's Digest Gold Award - 2008 Most Trusted Brand.
  • 2012: Builder Information Bureau (BIB) 2012 Leadership in the paint category.
  • 2012: 10th Annual Construction World Global Awards 2012.
  • 2015: Featured in Top Companies Report by CoatingsWorld among the Top 25 of the report.
  • 2015: Featured in Forbes India’s list of Super 50 Companies.
  • 2015: Featured among BrandZ Top 50 most valuable brands 2015.
  • 2016: Berger Paints India Wins 1st Prize in NECA, 2016.
  • 2016: Featured among the Top 7 Value Creators in Forbes India’s 7th Anniversary Special Edition.
  • 2016: Featured in Forbes India’s list of Super 50 Companies for the second year in a row.
  • 2017: Berger Express Painting Awarded SKOCH-BSE Order of Merit in the Innovation category at the 48th SKOCH-BSE Summit.
  • 2017: Ranked among the top manufacturers of paints and coatings of the world in the latest issue of Top Companies Report 2017, by Coatings World.
  • 2019: Berger Paints Shines at Sammie 2019 With Silver Award.
  • 2019: Berger Paints wins the CII National Award for Excellence in Water Management 2019.
  • 2020: Listed in BrandZ Top 75 Most Valued Indian Brands 2020 in its seventh edition released by Kantar Millward Brown.
  • 2020: Berger Paints recognized as the ‘Best Indian Paint Company’ at Times Business Awards.
  • 2020: CII Environmental Best Practices Award 2020.
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