Bright outlook but valuation high for Indigo Paints, say analysts

Set up in March 2000, Indigo Paints has quickly grown into India’s fifth-largest decorative paint company, aided by its focus on differentiated products and increasing its presence in tier-2/3/4 cities and rural areas.  According to analysts, the company’s revenues (ex-acquisitions) have grown at a compound annual growth rate of 29 per cent in the past five years, making it the fastest growing paint company in that period. With a proven formula and high growth potential of the industry, analysts believe Indigo could continue to grow at a similar clip in the mid- to near-.....

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