Berger Paints India Ltd

ESG score update

• ESG score of 60 assigned to Berger Paints India Limited for FY2026.
• Rating communicated by ESG Risk Assessments and Insights Limited via email today.

ESG rating update

• ESG Risk Assessments and Insights Limited assigned ESG score 60 for FY 2026.
• Intimation received today via email; no additional impact details disclosed.

AGM Details

• 102nd AGM held on 12 August 2026 at 11:00 AM via VC/OAVM.
• Record date for voting: 5 August 2026.
• Meeting duration: 11:00 AM to 1:36 PM.

Key Resolutions & Outcomes

• Resolution 1: Approval of audited financial statements – passed.
• Resolution 2: Dividend of Rs 4 per equity share – passed.
• Resolution 3: Re-appointment of Kanwardip Singh Dhingra as Director – passed.
• Resolution 4: Re-appointment of Abhijit Roy as MD & CEO for 2027–2031 – passed.
• Resolution 5: Remuneration by commission to Ms Rishma Kaur up to 1% of net profits – passed.
• Resolution 6: Remuneration by commission to Mr Kanwardip Singh Dhingra up to 1% of net profits – passed.
• Resolution 7: Ratification of cost auditors’ remuneration for FY2026-27 – passed.

Auditors & Remuneration

• Remuneration for cost auditors for FY2026-27 ratified.
• No change in statutory auditors.

AGM Details

• Date/time/mode: 12 August 2026, 11:00 AM, via VC/OAVM.
• Record date: 5 August 2026.
• Attendance: 177 Members attended; meeting concluded 1:36 PM.

Resolutions & Outcomes

• Resolution 1 (Ord): Approval of audited financial statements and Board report; passed.
• Resolution 2 (Ord): Dividend of Rs 4 per equity share; passed.
• Resolution 3 (Ord): Re-appointment of Kanwardip Singh Dhingra; passed.
• Resolution 4 (Special): Re-appointment of Abhijit Roy as MD & CEO for 4 years; passed.
• Resolution 5 (Special): Commission up to 1% of net profits to Rishma Kaur; passed.
• Resolution 6 (Special): Commission up to 1% to Kanwardip Singh Dhingra; passed.
• Resolution 7 (Ord): Ratification of cost auditors' remuneration for 2026-27; passed.

MD & CEO Re-appointment

• Change type: Re-appointment of MD & CEO Abhijit Roy.
• Effective from 5 July 2027 to 30 June 2031; four-year term.
• Reason: Shareholders approved at 102nd AGM held 12 August 2026.
• Profile: Abhijit Roy—extensive marketing and leadership experience; IIM Bangalore Distinguished Alumni Award 2023.
• Relationship with other directors: Not Applicable.
• Not debarred by SEBI or equivalent authorities.

AGM Details

• Date and time: 12 August 2026, 11:00 AM; mode: VC/OAVM.
• Cut-off date for voting: 5 August 2026.
• AGM conducted through video conferencing and other audio-visual means.

Key Resolutions and outcomes

• Resolution 1: Approval of audited financial statements for FY ended 31 March 2026; passed.
• Resolution 2: Dividend of Rs 4 per share approved.
• Resolution 3: Re-appointment of Kanwardip Singh Dhingra by rotation; passed.
• Special Resolution 4: Re-appoint Abhijit Roy as MD and CEO for four years from July 1, 2027; passed.
• Special Resolution 5: Remuneration by commission to Ms Rishma Kaur, Non-Executive Chairman; passed.
• Special Resolution 6: Remuneration by commission to Mr Kanwardip Singh Dhingra, Vice Chairman; passed.
• Ordinary Resolution 7: Ratification of cost auditors' remuneration for FY ending 31 March 2027; passed.

Financial Performance

• Standalone volume grew 8.4%; revenue up 12.7%; standalone PAT up 25.5%.
• Consolidated revenue grew 12%; consolidated PAT rose 28.6%.
• Decorative value growth 13.5%; operating profit growth near 20%.
• Gross margin 39.3%; band 39–42%; industrial pass-through delayed.
• Standalone operating margin 17.4%; typically higher in Q1.
• Stores reached 1,900+; urban stores ~900+.
• Tinting machines over 2,100 installed this quarter; annual target 10,000.
• Color Plus interior emulsion gained traction in premium segment.
• Exterior emulsions outperformed; wood coatings posted double-digit volume growth.
• Panagar and Orissa two new plants planned; capex 600–800 crores.
• Cash balance end-June FY27 at 1,424 crores; funds for two factories.
• Becker JV at 49%; BNPA JV robust; revenue not included in consolidated sales.
• Campaign Berger Jaise Hodin, Rangan launched; positive market feedback.
• Guidance: FY27 double-digit revenue growth; margins 15–17%.

Operating Update

• Decorative segment remains strongest; premium interior Color Plus gaining traction.
• Exterior emulsions outperformed; premium interior growth supported by Color Plus.
• Construction chemicals and waterproofing delivered robust volume and value growth.
• Roof, pool and seal segments continued momentum; wood coatings showed double-digit growth.
• UK operations remained subdued; BNPA and Becker JV show robust performance.
• Two new factories planned for Panagar and Orissa; emphasis on profitability and efficiency.

Capex and Projects

• Panagar and Orissa plants slated; Panagar to start end of this fiscal.
• Annual capex guidance around 600–800 crores for the year.
• Tinting machines target 10,000 installations this year; majority in under-indexed markets.
• Backward integration: emulsants produced in-house; Dow tie-up for Monsens; Lucknow plant.
• Overall capex cadence linked to Panagar and new plants; cash deployment aligned.

Outlook and Guidance

• FY27: double-digit revenue growth expected; aided by full Q2 price impact and festive demand.
• Operating margins guided at 15–17% for FY27; Q2 likely better than Q1.
• Monsoon supportive; rural sentiment improving; competitive intensity remains elevated.
• Brand investments and retail activation to strengthen consumer base and market share.

Q&A Highlights

• Dealers stocked up ahead of price hikes; July growth remained reasonable.
• Q2 volume expected 7.5–8%; Q1 volume around 8%+, price increases 7.5–8%.
• Mix impact modest; pure price impact in Q2 around 7.5–8% depending on mix.
• Industry base effect: leader grew faster; Berger gained slight market share in Q1.
• Post-Diwali price cuts would depend on raw-material moves; timing remains uncertain.
• Backwards integration improving margins; emulsants produced in-house; Dow tie-up for key inputs.

Meeting Details

• Date: 5 August 2026
• Type: Investor presentation
• Mode: Audio recording available online
• Organizer: Berger Paints India Limited

Participants

• Key participant: Vice President & Company Secretary

Purpose

• Purpose: Audio recording of June 30, 2026 results presentation

Additional Notes

• Recording available on company website; no links provided