India's Berger Paints logs profit fall as unseasonal rains hurt demand

Berger Paints India

05/02/2026 11:30

Feb 5 (Reuters) - India's Berger Paints BRGR.NS reported a quarterly profit drop on Thursday, as an extended monsoon season hurt demand, and a one-time charge tied to the country's new labour laws also weighed.

Consolidated net profit for the quarter ended December fell 8.1% on-year to 2.71 billion rupees ($30 million).

CEO Abhijit Roy attributed the decline to unseasonal rains in October and a short festive period, but said demand improved progressively over the rest of the quarter. Revenues marginally rose 0.3% on-year.

The paintmaker took a hit of 533.1 million rupees due to changes to the new labour laws.

For further earnings highlights, click here.

KEY CONTEXT

Analysts at Ambit Capital expected volume growth for paint companies during the quarter, but said a negative price mix and heightened competition would pressure revenue.

Indian paintmakers have seen uneven profit trends in recent quarters, driven by a mix of demand conditions, cost pressures and other company-specific factors.

Competitors Asian Paints ASPN.NS and Kansai Nerolac KANE.NS have both reported a fall in quarterly profit, weighed down by a one-time charges linked to the new labour laws.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Price/Sales
Revenue growth
Profit growth
Mean rating*
# of analysts
Stock to price target**
Div yield (%)
Berger Paints India Ltd
BRGR.NS
42.18
26.45
NULL
8.76
14.13
Hold
21
0.86
0.79
Kansai Nerolac Paints Ltd
KANE.NS
23.62
14.75
NULL
7.93
16.11
Hold
11
0.85
1.13
Asian Paints Ltd
ASPN.NS
49.08
32.64
NULL
6.91
10.78
Hold
35
0.89
1.02
Akzo Nobel India Ltd
AKZO.NS
27.97
17.95
NULL
2.42
19.39
Buy
2
0.81
3.46

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 90.3070 Indian rupees

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Berger Paints India Q3FY26 https://fingfx.thomsonreuters.com/gfx/mkt/myvmqeeqevr/Screenshot%202026-02-05%20163022.png

Berger Paints India Q3FY26 https://fingfx.thomsonreuters.com/gfx/mkt/myvmqeeqevr/Screenshot%202026-02-05%20163022.png

(Reporting by Mridula Kumar; Editing by Harikrishnan Nair)

((Mridula.Kumar@thomsonreuters.com;))