Berger Paints shares jump 8% after double-digit volume growth, gross margins at 12-quarter high

Shares of Berger Paints India

Ltd. surged as much as 8% on Wednesday, May 13, after the company reported strong March quarter earnings, aided by robust volume growth and improved margins.

The paint maker posted a 6% year-on-year rise in revenue to ₹2,868.03 crore for Q4FY26, compared to ₹2,704.03 crore in the corresponding quarter last year.

Net profit climbed 28% to ₹335.25 crore from ₹262.91 crore a year ago.

Gross margins expanded to a 12-quarter high of 44.2% during the quarter, compared to 42.7% in the year-ago period. EBITDA increased 13% year-on-year to ₹481.67 crore from ₹427.77 crore, while EBITDA margin improved to 16.8% from 15.8%.

The company also reported double-digit volume growth of 11.8% during the quarter.

Berger Paints said its India operations maintained market share at around 20%, while businesses such as construction chemicals and waterproofing continued to outperform.

The protective coatings segment delivered high single-digit volume and value growth, while the automotive coatings business posted strong double-digit volume growth along with high single-digit value growth.

Looking ahead to FY27, the company said staggered price hikes introduced from March are expected to support gross margins.

However, it cautioned that competitive intensity is likely to remain elevated, while demand trends continue to be monitored closely.

On the distribution front, Berger Paints expanded its retail footprint to nearly 1,900 stores, while installations of tinting machines crossed the 10,000-unit mark.