# Indigo Paints targets 25% annual growth, puts market share ahead of margins 2026-08-19T23:27:11+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Indigo Paints Ltd is prioritising revenue growth over margins as it spends aggressively to gain market share in India's competitive paints sector. Managing director Hemant Jalan said the company is targeting more than 25% annual revenue growth if the industry expands at 13-14%, and aims to grow at least 10 percentage points faster than the market. The company, which holds about 3% of the decorative paints market, is prepared to accept some margin pressure as it increases spending on trade promotions and influencers, reporting a gross margin of 44.6% in the April-June quarter against an industry average of 41.5%. Indigo is expanding into wood coatings and waterproofing, where its stake in Apple Chemie India has been raised to 62%, and is evaluating auto refinish. Jalan said the company is open to entering industrial coatings only through acquisitions, and does not plan to raise equity to fund expansion. He noted that competitive intensity remains high, especially with Birla Opus offering deep discounts, but said the price war some expected has not materialised. He does not expect industry-wide price cuts before Diwali unless raw material prices stabilise. Jalan, 68, said a formal CEO appointment could come in 12-18 months as part of succession planning. ## Indian Opinion Analysis Indigo Paints is the smallest of the four listed decorative paint companies, with a fraction of the market share of Asian Paints (over 50%) and Berger Paints (around 20%). Its aggressive top-line focus mirrors the strategy Birla Opus, backed by the Aditya Birla Group's deep pockets, has adopted since entering the market last year. The real test is whether Indigo can sustain 25%-plus growth without its gross margin eroding below 44%, which would still leave it above the industry average. The company's high share of differentiated products, around 30% of sales, gives it a buffer that peers with larger commodity volumes lack. Watch for the December-quarter results to see if advertising spending rebounds to last year's 6.8% level and whether raw material costs have stabilised enough to allow a Diwali price cut. ## Coverage - livemint.com The article presents Indigo Paints' strategy, financial targets, and competitive context as a straight business report, with no evident slant toward or against the government or any political ideology. This story was synthesised by AI from the source linked above. Tags: Asian Paints, Berger Paints, Birla Opus, Hemant Jalan, Indigo Paints Canonical: https://indianopinion.org/indigo-paints-targets-25-annual-growth-puts-market-share-ahead-of-margins/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/indigo-paints-targets-25-annual-growth-puts-market-share-ahead-of-margins/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/