Berger Paints India Limited Q2 revenue rises 13.2%, profit 5.2%

Berger Paints India Limited reported Rs 3,200.4 crore of consolidated revenue from operations for the quarter ended September 30, 2026, a 13.2% year-on-year increase, while earnings before interest, tax, depreciation and amortisation (EBITDA), excluding other income, and net profit each rose 5.2% as raw-material inflation and higher advertising spending affected operating profit growth.

How did Berger Paints perform in Q2 FY27?

Berger Paints recorded consolidated revenue growth of 13.2% in Q2 FY27, but its EBITDA and net profit grew by 5.2% each. Revenue from operations increased by Rs 372.9 crore from Rs 2,827.5 crore in the quarter ended September 30, 2025 to Rs 3,200.4 crore in the quarter ended September 30, 2026. EBITDA excluding other income increased by Rs 18.4 crore to Rs 370.7 crore.

Net profit rose by Rs 10.7 crore to Rs 217.1 crore from Rs 206.4 crore in the corresponding quarter a year earlier. The difference between 13.2% revenue growth and 5.2% EBITDA growth shows that the additional sales did not translate proportionately into operating profit during the September 2026 quarter.

Berger Paints said Industrial, Construction Chemical and International businesses supported the consolidated operating profit result in a seasonally soft quarter. Management also said market share remained stable at the end of Q2 FY27, although the release did not disclose a market-share percentage.

Why did Berger Paints' Q2 profit trail revenue growth?

Berger Paints' profit growth trailed revenue growth because management said a sharp increase in raw-material costs had its full impact in the September 2026 quarter. Consolidated revenue rose 13.2%, compared with a 5.2% increase in EBITDA excluding other income, a difference of 8 percentage points. The company did not disclose the absolute increase in raw-material costs.

Advertising spending also rose in Q2 FY27 after Berger Paints launched its “Rang Bana Rahe” corporate campaign. Management said the combined effect of raw-material inflation and campaign-related advertising spending contributed to a 4.4% year-on-year decline in standalone operating profit, which fell to Rs 297.5 crore from Rs 311.2 crore.

Berger Paints had already been taking price increases in a staggered manner during the quarter to counter sustained input-cost inflation. Management said it would introduce further rounds of price increases in November 2026 and beyond when required, alongside cost-efficiency initiatives intended to support stability in profit margins.

How did Berger Paints' standalone results compare with group results?

Berger Paints' standalone revenue rose 11.9% in Q2 FY27, while standalone EBITDA and net profit declined, unlike the consolidated outcome. Standalone revenue from operations increased by Rs 291.6 crore to Rs 2,750.1 crore in the quarter ended September 30, 2026, from Rs 2,458.5 crore a year earlier. That was Rs 450.3 crore below consolidated revenue of Rs 3,200.4 crore.

Standalone EBITDA excluding other income declined by Rs 13.7 crore to Rs 297.5 crore, while standalone net profit fell by Rs 13 crore to Rs 163.3 crore. By contrast, consolidated EBITDA rose to Rs 370.7 crore and consolidated net profit increased to Rs 217.1 crore, indicating that the wider group result offset pressure in the standalone business.

Berger Paints said all domestic and international subsidiaries and joint ventures registered growth in topline and operating profit during Q2 FY27. The release did not provide individual financial figures for these entities, nor did it separately quantify the contribution from Industrial, Construction Chemical or International businesses.

What did Berger Paints report for the first half of FY27?

Berger Paints' consolidated net profit increased 19.3% for the six months ended September 30, 2026, exceeding the 5.2% growth reported for Q2 alone. First-half consolidated revenue increased by Rs 755.8 crore to Rs 6,784.1 crore from Rs 6,028.3 crore in the corresponding period of the previous year, a 12.5% rise.

First-half EBITDA excluding other income rose 11.1% to Rs 978.1 crore from Rs 880.7 crore, while net profit increased by Rs 100.7 crore to Rs 622.1 crore from Rs 521.4 crore. Management specifically identified the September 2026 quarter as the period when the full impact of the raw-material cost rise was felt, distinguishing that pressure from the aggregate six-month performance.

Standalone revenue for the six months ended September 30, 2026 increased 12.3% to Rs 5,976.7 crore from Rs 5,321.1 crore. Standalone EBITDA rose 6.1% to Rs 859.8 crore and net profit increased 13.2% to Rs 532 crore from Rs 470 crore, despite the decline in standalone EBITDA during Q2.

What risks and actions did Berger Paints disclose after Q2?

Berger Paints identified foreign-exchange volatility, geopolitical uncertainty, and raw-material supply and price disruptions as near-term risks to profit margins. These disclosures followed Q2 FY27, in which consolidated revenue rose by Rs 372.9 crore but EBITDA excluding other income increased by Rs 18.4 crore.

The company said it would use further price increases from November 2026, when needed, together with cost-efficiency measures to address continued raw-material inflation. The filing does not set a price-increase percentage, a margin target, or a timetable for the cost-efficiency initiatives.

Berger Paints' board approved the unaudited consolidated results on November 5, 2026 after Audit Committee review. The company said the limited review required under Regulation 33 of the Securities and Exchange Board of India listing regulations had been completed, with no matter requiring explanation in the results and notes; it also said Paints and Coatings is its primary business with no separate reportable segments under Indian Accounting Standard 108.

Conclusion

Berger Paints' September 2026 quarter showed revenue rising faster than earnings: consolidated revenue increased 13.2% to Rs 3,200.4 crore, while EBITDA excluding other income and net profit each increased 5.2%. Raw-material inflation and advertising for the “Rang Bana Rahe” campaign coincided with a 4.4% decline in standalone EBITDA, while subsidiaries and joint ventures supported consolidated growth.

The next disclosed development to watch is the planned further price increases from November 2026 and the accompanying cost-efficiency actions. Management has also identified foreign-exchange volatility, geopolitical uncertainty, and raw-material supply and price disruptions as near-term risks after first-half consolidated EBITDA reached Rs 978.1 crore and net profit reached Rs 622.1 crore.