Indigo Paints is an India‑based manufacturer and seller of decorative paints, operating differentiated product lines including emulsions, enamels, wood coatings, putties and waterproofing, with manufacturing sites in Jodhpur, Kochi and Pudukkottai and a national distribution network of depots, dealers and tinting machines under the Indigo brand.

Indigo Paints sustained industry‑leading gross margins near 46–47% in Q3 FY26, maintaining a structural premium versus peers while reporting sequentially stronger profitability driven by premium product mix, disciplined A&P reduction and tighter cost management that lifted standalone EBITDA margin to 19.4% in Q3 FY26.

The company is actively scaling capacity and capabilities: solvent and brownfield putty production commenced at Jodhpur and a new 90,000 KLPA water‑based plant is due for commissioning in June 2026, which is intended to support northern and eastern market growth and reduce logistics dependence on southern plants.

Apple Chemie, the acquired construction chemicals subsidiary, delivered strong Q3 growth and margin improvement with new sealant production at Nagpur and early export initiatives, signalling Indigo Paints’ strategic move into adjacencies and B2B infrastructure demand as an incremental growth driver alongside decorative paints.