Earnings · Berger Paints India
Berger Paints is listed to report its September-quarter numbers on 5 November 2026. Here are the date check, the weak monsoon base, the Q1 recovery, the margin line to watch, and the figures to read first.
Quick answer
Berger Paints Q2 results are listed for Thursday, 5 November 2026 in one weekly list. The base to beat is Rs 206 crore profit on Rs 2,827 crore revenue and a 12.4% operating margin in Q2 FY26, hit by an extended monsoon. Q1 FY27 profit was Rs 405 crore at a 16.9% margin.
Latest update (Sunday, 1 November 2026, 10:30 AM IST): The results are not out. Kotak Neo’s weekly list shows Berger Paints for Thursday, 5 November; the date rests on that one report and the filing time is not announced. This page becomes the live analysis after the filing.
Earlier entries:
- Friday, 30 October 2026, 6:00 PM IST: Kotak Neo listed Berger Paints among Thursday’s results.
- Wednesday, 5 August 2026: Q1 FY27 results were released after market hours.
Key takeaways
- Date: Thursday, 5 November 2026 from one weekly list; confirm on the exchange page.
- Base to beat: Q2 FY26 profit Rs 206 crore (-23.6%), revenue Rs 2,827 crore (+1.9%), margin 12.4%.
- Latest quarter: Q1 FY27 profit Rs 405 crore (+28.6%), revenue Rs 3,583.8 crore (+12%), margin 16.9%.
- Outlook: management expects double-digit revenue growth through FY27.
- Trap: Q2 is seasonally weaker than Q1. Compare year on year.
In plain words: Paint companies sell less when it rains, because walls cannot be painted. Last September a long monsoon pulled Berger’s profit down, so this year’s comparison starts from a low point. A preview tells you which marks to hold the new numbers against.
Data note: Figures are as of Sunday, 1 November 2026, 10:30 AM IST. The results date comes from one weekly list; the filing itself was not opened for this page. Base figures are company results as reported by Free Press Journal (IANS), Kotak Neo and Upstox. Derived numbers are my calculation.
When are the Berger Paints Q2 results?
The Berger Paints Q2 results date is listed as Thursday, 5 November 2026. The date rests on one weekly list, so confirm it on the exchange page.
Kotak Neo’s weekly list, posted at 6:00 PM IST on 30 October 2026, names Berger Paints India among Thursday’s results, and says dates are based on announced board-meeting schedules and may change. I found no second report that quotes the intimation, so treat the date as likely but unconfirmed.
Last year Berger reported its Q2 FY26 numbers on Tuesday, 4 November 2025, so 5 November would be a day later than last year. The filing time is not announced; Q1 FY27 was released after market hours on 5 August 2026. Do not trust a screenshot that claims a time before the exchange page shows it.
What will Berger Paints publish?
Berger will publish unaudited consolidated and standalone results for the quarter and half-year ended 30 September 2026, with an investor presentation. The presentation carries the volume and segment commentary that the headline leaves out.
Is the date confirmed?
| Fact | Source | Status | What to do |
|---|---|---|---|
| Results on Thursday, 5 November 2026 | Kotak Neo weekly list (30 Oct 2026, 6:00 PM IST) | Single report; list is partial and dates may change | Open the BSE or NSE filing to confirm |
| Last year’s Q2 date | Free Press Journal, 4 Nov 2025 | Reported | Use as a pattern only |
| Filing time | Not announced | Unknown | Do not act on unconfirmed screenshots |
Cite this table: PositionalCalls, “Berger Paints Q2 FY27 Date Check, as of 1 November 2026”.
Treat any article that gives another date as unreliable until you see the filing.
What is the base to beat for the Berger Paints Q2 results?
The base to beat is Q2 FY26 profit of Rs 206 crore on revenue of Rs 2,827 crore and a 12.4% operating margin, against Rs 405 crore, Rs 3,583.8 crore and 16.9% in Q1 FY27.
| Measure (consolidated) | Q2 FY25 (Sep 2024) | Q2 FY26 (Sep 2025) | Q1 FY27 (Jun 2026) |
|---|---|---|---|
| Revenue from operations, Rs crore | 2,774 | 2,827 (+1.9%) | 3,583.8 (+12%) |
| EBITDA or PBDIT, Rs crore | 434 | 352 (-19%) | 607.4 (+15%) |
| Operating margin | 15.6% | 12.4% | 16.9% (vs 16.5%) |
| Net profit, Rs crore | 270 | 206 (-23.6%) | 405 (+28.6%) |
| Standalone net profit, Rs crore | 229 | 176.3 (-23%) | 368.7 (+25.5%) |
| Volume growth | Not in sources | High single digit | About 8.4% |
Cite this table: PositionalCalls, “Berger Paints Base-to-Beat Table, as of 1 November 2026”.
Berger Paints EBITDA Q2 FY27: the flat-quarter sum
Here is the first useful sum. Q1 FY27 revenue of Rs 3,583.8 crore is +26.8% above Q2 FY26’s Rs 2,827 crore, Q1 PBDIT of Rs 607.4 crore is +72.6% above Rs 352 crore, and Q1 profit of Rs 405 crore is +96.6% above Rs 206 crore (my calculations). The low margin base is why a flat quarter would show such large gains.
How was the Q2 FY26 base built?
Free Press Journal, carrying an IANS report, said an extended monsoon hit sales in several markets, exterior paint sales were low, the product mix was unfavourable and brand-building spend was higher. Revenue rose 1.9% while EBITDA fell 19% and the margin dropped from 15.6% to 12.4%. Volume growth was still high single digit, according to CEO Abhijit Roy.
First-half FY26 consolidated revenue was Rs 6,028.3 crore (up 2.8%), EBITDA Rs 880.7 crore (down 7.9%) and profit Rs 521.4 crore (down 16.4%), so the weak second quarter dragged the half.
Berger Paints Q2 results preview: what to expect
No consensus estimate was found. The preview rests on the base figures and on management’s Q1 commentary: double-digit revenue growth, margins within the guided range, and elevated competition.
| Item | What was reported | Source and date | Note |
|---|---|---|---|
| Revenue outlook | Double-digit growth expected to continue in FY27 | Kotak Neo and Upstox, 5 Aug 2026 | Price increases, festive demand, distribution |
| Margin outlook | Operating margins within the guided range | Same | Range not quoted in the sources |
| Gross margin | Moderated year on year on raw material inflation | Upstox, 5 Aug 2026 | No figure given |
| Decorative paints | Value growth near mid-teens; operating profit up nearly 20% | Upstox; Kotak Neo | Core segment |
| Industrial and protective | Slower growth on delayed price increases | Kotak Neo | Lower weight |
| Consensus profit estimate | None found | Not applicable | Do not read guidance as a forecast |
Cite this table: PositionalCalls, “Berger Paints Q2 FY27 Outlook Marks, as of 1 November 2026”.
Upstox noted that a full quarter of the price increases taken during the earlier quarter should help revenue, and that competition is expected to stay high. The company said it will monitor crude oil, currency and geopolitical developments, which feed raw material costs.
Berger Paints net profit Q2 FY27: what to expect
Last year Q2 revenue was 11.7% lower than Q1 (2,827 against 3,201, my calculation). The same seasonal drop applied to Q1 FY27’s Rs 3,583.8 crore would give about Rs 3,165 crore, which is +12.0% on Q2 FY26 (my illustration). That is close to the 12% growth of Q1, so the seasonal pattern and the guidance point in the same direction.
Kotak Neo reported the shares up almost 3% at Rs 545.2 on the NSE on 5 August 2026, the day of the Q1 release. That was a reaction to what the market expected, not a forecast of Q2 FY27, and it says nothing about what the filing will show.
Berger Paints EBITDA and profit Q2 FY27: scenarios
These are arithmetic scenarios, not forecasts. A flat Q1 PBDIT would be +72.6% on Q2 FY26, which shows why the low base matters.
Assumptions: consolidated; Q2 FY26 revenue Rs 2,827 crore and EBITDA Rs 352 crore; revenue growth of 10%, 12% and 15% is my illustration around the double-digit guidance; operating margins of 13.5%, 15.0% and 16.5% span the range between last September’s 12.4% and Q1 FY27’s 16.9%.
| Revenue growth on Q2 FY26 | EBITDA at 13.5% margin | EBITDA at 15.0% margin | EBITDA at 16.5% margin |
|---|---|---|---|
| +10% (Rs 3,110 crore) | Rs 420 crore (+19%) | Rs 466 crore (+33%) | Rs 513 crore (+46%) |
| +12% (Rs 3,166 crore) | Rs 427 crore (+21%) | Rs 475 crore (+35%) | Rs 522 crore (+48%) |
| +15% (Rs 3,251 crore) | Rs 439 crore (+25%) | Rs 488 crore (+39%) | Rs 536 crore (+52%) |
Cite this table: PositionalCalls, “Berger Paints Q2 FY27 EBITDA Scenarios, as of 1 November 2026”.
Three worked examples
- Margin back near Q1: revenue +12% is Rs 3,166 crore and a 16.5% margin gives EBITDA of Rs 522 crore, which is +48% on Rs 352 crore (my calculation).
- Middle case: a 15.0% margin on the same revenue gives Rs 475 crore, +35%.
- Weak recovery: a 13.5% margin gives Rs 427 crore, +21%, still above last year’s base.
The scenarios hold other lines constant. In practice depreciation, interest, other income, tax and the joint-venture share sit between EBITDA and profit, and raw material prices can move the margin within a quarter.
Which Berger Paints figures should you compare?
Compare consolidated with consolidated, and quote one growth rate per source. Berger’s recent numbers appear on more than one basis.
| Figure | Q2 FY26 | Q1 FY27 | The trap |
|---|---|---|---|
| Consolidated net profit, Rs crore | 206 (-23.6%) | 405 (+28.6%) | Some outlets say 23% or 24% for Q2 and 28% or 29% for Q1 |
| Net profit, Angel One headline | Not applicable | 404 (+21%) | Differs from other sources on growth |
| Standalone net profit, Rs crore | 176.3 (-23%) | 368.7 (+25.5%) | Parent company only |
| EBITDA versus PBDIT | 352 (EBITDA) | 607.4 (PBDIT) | Different labels; Kotak Neo does not use EBITDA |
| Revenue, consolidated, Rs crore | 2,827 | 3,583.8 | Standalone: 2,458.5 and 3,226.7 |
| Volume growth | High single digit | About 8.4% | Kotak Neo does not say consolidated or standalone |
Cite this table: PositionalCalls, “Berger Paints Definition-Trap Table, as of 1 November 2026”.
A headline that compares Q1 FY27 profit of Rs 405 crore with Q2 FY26’s Rs 206 crore would show +96.6%, which is a quarter-on-quarter figure and not a year-on-year one. Use Q2 FY26 as the base only for the new quarter, and use the company’s own year-on-year rates for Q1.
EBITDA versus profit
EBITDA is earnings before interest, tax, depreciation and amortisation. It leaves out finance cost, depreciation and tax, so profit can move at a different rate. In Q2 FY26 EBITDA fell 19% while profit fell 23.6%, and in Q1 FY27 PBDIT rose 15% while profit rose 28.6%.
The estimate base trap
A growth rate applied to Rs 206 crore and to the standalone Rs 176.3 crore gives two different profits. Check the base before you compare any estimate with the table above.
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Get the Berger Paints Q2 numbers on WhatsApp
- The Berger Paints filing time and headline numbers, stamped
- Base-to-beat tables for the next company results
- Links to updated Q2 FY27 pages
What do Berger’s volume, mix and margin lines need to show?
Volume growth near 8.4%, decorative growth in the mid-teens and an operating margin back above 15% are the marks from Q1 FY27.
| Line | Q2 FY26 | Q1 FY27 | Source |
|---|---|---|---|
| Volume growth | High single digit | About 8.4% | Free Press Journal; Kotak Neo |
| Decorative paints value growth | Not in sources | Near mid-teens (about 13.5%) | Upstox; Kotak Neo |
| Decorative operating profit | Not in sources | Up nearly 20% | Upstox; Kotak Neo |
| Industrial and protective | Not in sources | Slower on delayed price rises | Kotak Neo |
| Gross margin | Not in sources | Moderated on raw material costs | Upstox |
| Finance cost, Rs crore | Not in sources | 12.5 (vs 14.5) | Kotak Neo |
Cite this table: PositionalCalls, “Berger Paints Volume and Margin Marks, as of 1 November 2026”.
The Q2 FY26 report cited unfavourable mix and higher brand spend as margin hurdles. In Q1 FY27 the margin recovered to 16.9% from 16.5% a year earlier even as gross margin moderated, so operating costs were better controlled.
Watch whether volume growth stays near 8% on a weak Q2 FY26 base, whether exterior paints recover after the long monsoon, and whether price increases held.
Which other results land the same week as Berger Paints?
Kotak Neo’s weekly list shows Thermax, TeamLease and Sai Life Sciences on Thursday too, Hindalco on Friday, and Apollo Hospitals and Dabur on Wednesday.
The list is partial and dates may change. For the format of a results read, see our recent posts on Marico Q2 results, Titan Q2 results and Bajaj Finserv Q2 results. They cover other companies, so only the method carries over. The Q2 results calendar and the earnings calendar list the companies that have reported.
If you hold Berger shares and plan to sell later, our guide to capital gains tax on shares covers how gains are taxed. It is general information, not tax advice.
How to read the Berger Paints Q2 results in 10 minutes
Read seven lines in order: revenue, EBITDA, operating margin, volume growth, consolidated profit, segment commentary and the notes.
| What to read | Mark to compare | Question to ask |
|---|---|---|
| Revenue from operations | Rs 2,827 crore; Rs 3,583.8 crore | Is growth in double digits, as guided? |
| EBITDA | Rs 352 crore; Rs 607.4 crore | Did it rise well above last September? |
| Operating margin | 12.4%; 16.9% | Did the margin recover toward Q1? |
| Volume growth | High single digit; about 8.4% | Did volume hold near 8%? |
| Net profit | Rs 206 crore; Rs 405 crore | Consolidated or standalone? |
| Segments | Decorative mid-teens; industrial slower | Which segment led? |
| Notes | Raw materials, one-offs, joint ventures | Is any line unusual? |
Cite this table: PositionalCalls, “Berger Paints Results-Day Decoder, as of 1 November 2026”.
How to read the Berger Paints filing on NSE or BSE
Open the exchange announcement, find the consolidated statement and compare each line with the base table above, same measure, same basis.
- Open the BSE corporate announcements page or the NSE corporate filings page and search for Berger Paints India.
- Choose the financial results announcement for the quarter ended 30 September 2026.
- Find the consolidated statement first, then the standalone.
- Check the unit and whether a column is for the quarter or six months.
- Read revenue, total expenses, profit before tax and profit after tax.
- Open the investor presentation for volume, mix and segment lines.
- Check the notes for exceptional items.
- Compare every figure with the base table.
What it costs: reading a filing is free. If you trade the stock, brokerage, securities transaction tax and other charges apply, so check your broker’s current schedule. Tax angle: dividends and gains follow the current tax rules, so see our guide to capital gains tax on shares or ask a tax adviser. Scam warning: on results day, fake “result alert” groups and sure-shot tips circulate. Nobody can guarantee a gain, and official filings are free.
What is the results-day checklist for Berger Paints?
- Confirm the date on the BSE or NSE announcement page.
- Note the filing time and stamp what you read with it.
- Open the consolidated statement before any headline.
- Compare revenue with Rs 2,827 crore.
- Compare EBITDA and margin with Rs 352 crore and 12.4%.
- Check volume growth against the high single-digit mark.
- Check whether a profit figure is consolidated or standalone.
- Check the notes for one-off items.
- Write your own plan before the price moves.
What are the risks around the Berger Paints Q2 results?
How to grade Berger Paints’ September-quarter numbers: a reading guide
Use the table as a reading aid, not a forecast. The cut-offs are my illustration, built from the guidance and the Q1 FY27 marks.
Assumptions: Q2 FY26 revenue Rs 2,827 crore, EBITDA Rs 352 crore and profit Rs 206 crore; “double digits” read as 10% or more.
| Mark | Stronger | In line | Weaker |
|---|---|---|---|
| Revenue growth on Q2 FY26 | Above 15% | 10% to 15% | Below 10% |
| Operating margin | 16.5% or higher | 14.0% to 16.5% | Below 14.0% |
| EBITDA growth on Q2 FY26 | Above 30% | 15% to 30% | Below 15% |
| Volume growth | 9% or higher | 7% to 9% | Below 7% |
| Profit growth, consolidated | Above 40% | 20% to 40% | Below 20% |
Cite this table: PositionalCalls, “Berger Paints Q2 FY27 Reading Guide, as of 1 November 2026”.
Worked example: suppose revenue is Rs 3,200 crore, EBITDA Rs 480 crore, volume growth 8% and profit Rs 270 crore. Revenue would be up +13.2% (3,200 divided by 2,827), EBITDA +36.4%, the margin 15.0% and profit +31.1% on Rs 206 crore (my calculation). Revenue and volume would read in line, the margin in line, and EBITDA and profit growth stronger. Large growth rates come from the low base, so the 15.0% margin is the cleaner signal.
A strong reading describes the quarter only. It is not a signal to buy, sell or hold, and a weak one is not a signal either. Prices react to many things, including what the market already expected.
The guide uses consolidated figures throughout. If a headline quotes standalone profit, compare it with the standalone base of Rs 176.3 crore instead, and say so when you share the number. Mixing the two is the commonest error on paint-sector results day, because each company reports both.
What do most people miss on Berger Paints results day?
- The base is unusually low. A 12.4% margin is 3.2 points below the year before.
- Q2 is seasonally weaker than Q1. Revenue fell about 11.7% from Q1 to Q2 last year.
- Growth rates look inflated. A flat Q1 EBITDA would be +72.6% on Rs 352 crore.
- Volume did not collapse last year. It stayed high single digit while the margin fell.
- Sources differ on Q1 profit growth. 28.6%, 28% and 21% all appear.
- The date is unconfirmed. Verify before you plan around it.
Analyst’s note: how to think about this quarter
- What stands out (reasoning): the margin level tells more than the growth rate, because last September’s base was depressed by the monsoon and mix.
- Easy to miss: volume has held near high single digits through both a weak and a strong quarter, so the margin is the swing factor.
- What would change the view: an operating margin below 14.0%, or volume growth below 7%.
- Caution: one quarter does not fix a long-term value. This page gives no target or recommendation.
- Reader action: read the same-basis figures first and match each to the base table.
Bottom line
Known: Berger Paints is listed for 5 November 2026; the base is Rs 206 crore profit, Rs 2,827 crore revenue and a 12.4% margin, and Q1 FY27 recovered to Rs 405 crore and 16.9%.
Not known yet: the confirmed date, the filing time, the actual figures and any consensus estimate.
Your move: use the decoder table and compare same-basis figures.
Next read: the Q2 results calendar, which lists the companies reporting next.
Part of the earnings coverage.
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- Filing alerts for Berger Paints and other large companies
- The profit and EBITDA figures explained
- The next company on the results calendar
Berger Paints Q2 results: frequently asked questions
When are the Berger Paints Q2 results?
Berger Paints is listed to report on Thursday, 5 November 2026 in Kotak Neo’s weekly list posted on 30 October, which says dates follow announced board meetings and may change. That is a single, partial-list source, so confirm on the BSE or NSE page. The filing time is not announced.
What was Berger Paints profit in Q2 FY26?
Free Press Journal, carrying an IANS report, gave consolidated net profit of Rs 206 crore, down 23.6% from Rs 270 crore, on revenue of Rs 2,827 crore (up 1.9%) and EBITDA of Rs 352 crore (down 19%). Other outlets round the fall to 23% or 24%.
Why is the Berger Paints Q2 FY26 base low?
An extended monsoon cut painting activity, exterior sales were weak, the product mix was unfavourable and brand spending rose. Operating margin fell to 12.4% from 15.6%, so Q2 FY27 growth rates start from a low base.
What did Berger Paints report in Q1 FY27?
Consolidated net profit was Rs 405 crore, up 28.6%, on revenue of Rs 3,583.8 crore (up 12%), operating profit (PBDIT) of Rs 607.4 crore (up 15%) and a margin of 16.9%, per Kotak Neo. Volume growth was about 8.4%, a high single-digit rate.
Why do Berger Paints Q1 FY27 profit growth figures differ?
Most sources say 28% to 29%, but an Angel One headline says 21% to Rs 404 crore. Consolidated and standalone also differ: standalone profit was Rs 368.7 crore, up 25.5%. Match the basis before you quote a growth rate.
Does Berger Paints Q2 usually fall below Q1?
Last year consolidated revenue fell from Rs 3,201 crore in Q1 FY26 to Rs 2,827 crore in Q2 FY26, a drop of about 11.7% (my calculation), because the monsoon slows painting. Compare Q2 FY27 with Q2 FY26, not with Q1 FY27.
What did Berger Paints say about the outlook?
Management said double-digit revenue growth should continue through FY27, helped by price increases, festive demand and wider distribution. It expects operating margins to stay within its guided range and flagged crude oil, currency and competition as risks, per Kotak Neo and Upstox.
Do analysts have a Berger Paints Q2 profit estimate?
No consensus estimate was found for this page. Treat any estimate you see as one house’s view and check whether it is consolidated or standalone before comparing it with the table.
Where can I read the Berger Paints filing?
Use the BSE corporate announcements page or the NSE corporate filings page and search for Berger Paints India. Open the financial results PDF and the investor presentation. Ignore forwarded “result alert” images and messages promising sure-shot calls.
By when must Berger Paints publish its Q2 results?
SEBI’s listing regulations give listed companies 45 days after quarter-end for quarterly results. For the quarter ended 30 September 2026 that is 14 November 2026 (my calculation). Last year the company reported on 4 November 2025.
Sources
- BSE corporate announcements: where the Berger Paints filing appears.
- NSE corporate filings: financial results: the same filing on NSE.
- Kotak Neo: Q2 results this week, 30 October 2026.
- Kotak Neo: Berger Paints Q1 FY27 results, 5 August 2026.
- Upstox: Berger Paints Q1 FY27 results, 5 August 2026.
- Free Press Journal (IANS): Berger Paints Q2 FY26, 4 November 2025.
- Angel One: Berger Paints Q1 FY27, August 2026.
Disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls is an independent research and education site founded by Shubham Chaudhary. Nothing here is a recommendation, target or investment advice. How I researched this: I checked the results date in one weekly list, took base figures from company results as reported by Free Press Journal, Kotak Neo and Upstox, noted where sources differ, and marked every derived number as my calculation. Figures are as of Sunday, 1 November 2026, 10:30 AM IST.
Shubham Chaudhary is the founder of PositionalCalls, an independent Indian stock market research website. He writes company fundamentals, quarterly results analysis, IPO analysis and sector research for NSE and BSE listed companies, with a focus on banking stocks, insurance and long-term value investing. Every article is built from primary sources such as RBI, SEBI, NSE and BSE filings and company annual reports, and states its risks plainly in simple language for retail investors.
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