141h May, 2025

STOCK. EXG/ AG/ 2025-26

The Corporate Relationship The Listing Department Listing Department

Department National Stock Exchange of The Calcutta Stock Exchange
BSE Limited, India Limited Ltd.
1 Floor,
st
Exchange Plaza, 5th Floor, 7 Lyons Range,
Phiroze Jeejeebhoy Towers, Plot No.-C/1, 'G' Block, Kolkata-700001
Dalal Street, Bandra- Kurla Complex,
Mumbai - 400001 Bandra (E) Scrip Code : 12529
Scrip Code: 509480 Mmnbai - 400051
Scrip Code : BERGEPAINT

Dear Sir(s)
Sub: Outcome of Board Meeting
[Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]

Kindly note that the Board of Directors of the Company at their meeting held today, have
inter-alia, considered and approved the following:

a) Audited standalone and consolidated financial results of the Company for the quarter
and financial year ended 31st March, 2025;

b) Recommendation for payment of dividend of Rs 3.80 (380%) per equity share of the
face value of Re 1/- each fully paid-up for the financial year 2024-25 subject to
approval of the shareholders at the 101 st Annual General Meeting.

Accordingly, kindly find enclosed the following

a) Audited standalone and consolidated financial results of the Company for the quarter
and financial year ended 31st March, 2025;

b) Auditor's Report in respect of the audited standalone and consolidated financial

results of the Company for the quarter and financial year ended 31st March, 2025. The
reports contain unmodified opinion on the aforesaid results in terms of second proviso
to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended from time to time;

c) The Press Release on the financial results of the Company for the quarter and
financial year erided 31st March, 2025.

In terms of the provisions of Regulation 33(3)(d) of SEBI Listing Regulations, as amended,

we declare that the Statutory Auditors of the Company, viz. S.R. Batliboi & CO LLP,
_ Chartered Accountants have issued the Auditors Report with unmodified opinion on the
.,-::::;=c::::z�udited Financial Results of the Company for the financial year ended 31 st March, 2025.
�Q�p..
UM1r�

Cl) �

�b-: :-oflJ BERGER PAINTS INDIA LIMITED ••

i : Berger House, 129, Park Stree� Kolkata • 700 017, Phpne: 2229 9724-28, 2229 6005-06, Fax: 91-33-2249 9009/9729, www.bergerpaints.com
Corporate & Head Office: CF-4, ActionArea-1, Premises No., 02--0173, New Town, Ralathat, East Kolkata, West B81)931. 700156, India
CIN • L51434WB1923PLC004793, E-mail: consumerfeedback@bergerindia.com
 The Board Meeting commenced at 12.15 p.m and ended at 2.05 p.m.

The above information 1s also available on the Company's website

https://www.bergerpaints.com

This is for your information and records.

Thanking you

Yours faithfully,
FOR BERGER PAINTS INDIA LIMITED

Encl: as above

BERGER PAINTS INDIA LIMITED

• Regiltered Office : Berger House, 129, Parlt Street, Kolkata • 700 017, Ph9ne: 2229 9724-28, 2229 6005-06, Fax: 91-33-2249 9009/9729, www.bergerpaints.com
Corporate & Head Office: CF-4, AclionArea ·1, Premises No., 02-0173, New Town, Rajarhat, East Kolkata, West Bengal· 700156, India
CIN • L51434WB1923PLC004793, E-mail: consumerfeedbeck@bergerindia.com
S.R. BArL1Bo1 & Co. LLP 22, Camac Street
3rd Floor, Block 'B'
Chartered Accountants Kolkata - 700 016, India
Tel : +91 33 6134 4000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial
Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended

To
The Board of Directors of
Berger Paints India Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results
of Berger Paints India Limited (the "Company") for the quarter ended March 31, 2025 and for the year
ended March 31, 2025 ("Statement"), attached herewith, being submitted by the Company pursuant to
the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, , the
Statement:

1. is presented in accordance with the requirements of the Listing Regulations in this regard; and
11. gives a true and fair view in conformity with the applicable accounting standards and other
accounting principles generally accepted in India, of the net profit and other comprehensive
loss/income and other financial information of the Company for the quarter ended March 31,
2025 and for the year ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143( I 0) of the Companies Act, 2013, as amended (''the Act"). Our responsibilities under those
Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone
Financial Results" section of our report. We are independent of the Company in accordance with the
Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial statements under the provisions of the Act
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is
sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board
of Directors of the Company are responsible for the preparation and presentation of the Statement that
gives a true and fair view of the net profit and other comprehensive loss/income of the Company and
other financial information in accordance with the applicable accounting standards prescribed under
Section 133 of the Act read with relevant rules issued thereunder and other accounting principles
generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This
responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and the design, implementation and

S.R. Batliboi & Co. LLP, a Limited Liability Partnership with LLP Identity No. AAB·4294
Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
S.R. BArL1Bo1 & Co. LLP
Chartered Accountants

maintenance ·of adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparation and presentation of
the Statement that give a true and fair view and are free from material misstatement, whether due to
fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis ofaccounting unless the Board of Directors either intends to liquidate the Company
or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's .Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a nigh level of assurance but is not a guarantee that an audit conducted
in accordance with SAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtai.n audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also
responsible for expressing our opinion on whether the company has adequate internal financial
controls with reference to financial statements in place and the operating effectiveness of such
controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the Company's ability to continue as a
going concern. lfwe conclude that a material uncertainty exists, we are required to draw attention
in our auditor's report to the related disclosures in the financial results or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. However, future events or conditions may cause the Company to
cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures,
and whether the Statement represents the underlying transactions and events in a manner that
achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
S.R. BArL1Bo1 & Co. LLP
Chartered Accountants

We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2025 being the balancing figure
between the audited figures in respect of the full financial year ended March 31, 2025 and the published
unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected
to a limited review by us, as required under the Listing Regulations.

For S.R. BATLIBOI & Co. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005

per Vishal arma

Partner
Membership No.: 096766

uorN:��oq67b/:JP.:,t'IIJO Hz.. '5J/5s

Place: Kolkata
Date: May 14, 2025
BERGER PAINTS INDIA LIMITED
CIN:L51434WB1923PLC004793
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025
Rs. in crores

For the quarter ended Forthe yea,· ended

SrNo Particulars 31.03.2025 31.12.2024 31.03.2024 31.03.2025 31.03.2024

Audited Audited I
Unaudited Audlited Audited
(ReferNote 2) (ReferNote 2)

1 Income
(a) Revenue from operations 2.347.45 2,584.76 2,249.14 10,169.22 10,002.93
(b) Other income 19.45 69.04 13.44 122.21 57.44
Total income 2,366.90 2,653.80 2,262.58 10,,291A3 10,060.37

2 Expenses
(a) Cost of materials consumed 1,248.81 1,235.80 1,196.66 5,252.79 5,019.55
(b) Purchases of stock-in-trade 231.49 241.16 215.61 . 973.42 870.32
(c) (lncrease)/decrease in inventories of finished
(100.34) 78.30 (68.61) (137.62) 113.44
goods, stock-in-trade and work-in-progress
(d} Employee benefits expense 147.76 146.40 129.01 605.50 537.27
(e) Finance costs 11.23 12.24 14.66 -47.86 64.66
(f) Depreciation and amortisation expense 79.84 79.78 77.91 317.75 296.99
(g) Other expenses 430.22 465.61 451.33 1,800.99 1,790.68
Total expense 2,049.01 2,259.29 2,016.57 8,860.69 8,692.91

3 Profit before tax (1-2) 317.89 394.51 246.01 !1.,430.74 1,367.46

I
4 Tax expense
Current tax 80.27 87.13 63.01 351.41 340.96
Deferred tax charge 0.70 1.30 1.41 1.83 11.45
Total tax expense 80.97 88.43 64.42 353.24 352.41

5 Net Profit for the period (3-4) 236.92 306.08 181.59 1,on.50 1,015.05

6 Other comprehensive income/ (loss) not to be

reclassified to profit or loss in subsequent periods -
a) Re-measurement gains/(losses) on defined benefit (0.52) 2.00 0.24 0.29,, 0.18
obligations
b) Income tax on above 0.13 (0.50) (0.06) (0.07) (0.04)
Total other comprehensive income/(loss) not to be
(0.39) 1.50 0.18 0.22' 0.14
reclassified to profit or loss in subsequent periods

7 Total comprehensive income for the period (5+6) 236.53 307.58 181.77 1,077.72 1,015.19

8 Paid-up equity share capital 116.59 116.58 116.58 116.59 116.58

(Face value of Re. 1 each)
9 Other Equity 5,564.47 4,888.66
10 Earnings per share (of Re. 1/- each) I
(a) Basic (amount in INR) 2.03* 2.63* 1.56* 924 8.71
(b) Diluted (amount in INR) 2.03* 2.62* 1.56* 9.24 8.71

* Not annualised

See accompanying notes to the standalone financial results

Notes:

1) The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under section 133 of the Companies Act, 2013
read together with the Companies (Indian Accounting Standards) Rules, 2015, as amended. These results, as reviewed by the Audit Committee, were
approved and taken on record by the Board of Directors at its meeting held on May 14, 2025.These results have been audited by the statutory auditors and
the related report does not have any impact on the above 'Results & Notes' for the quarter and year ended March 31, 2025, which nee1ls to be explained.

2) The figures for the last quarters are the balancing figures between the audited figures in respect of the full financial year upto 31st March and the
unaudited published year to date figures up to 31st December which were subject to limited review.

3) The Company is principally engaged in the business of manufacturing paints and allied products in India with similar risk, returns and internal business
reporting system. Accordingly, there are no reportable segment(s) other than "Paints", which singly or in aggregate qualify for separate disclosure as per
provisions of the relevant Ind AS 108 "operating segments".

4) During the year ended March 31, 2025, the Compensation and Nomination and Remuneration Committee allotted 98,730 equity shares of Re 1/- each
fully paid to the eligible employees on exercise of options granted to them under Employee Stock Option Plan, 2016. Following completion of all necessary
formalities, the aforesaid equity shares were credited to the eligible employee's accounts during financial year 2024-25. Also, during the year, the
Compensation and Nomination and Remuneration Committee granted 2,01,206 Stock Options of Re 1/- each fully paid up to the eligible employees
pursuant to Employee Stock Option Plan, 2016, as amended, and as approved by the shareholders of the Company through Postal Ballot on 17th
September, 2024.

5) The Board of Directors have recommended dividend of Rs. 3.80 (380%) per equity share of Re.1/- each for the financial y,ear ended March 31, 2025 which
is subject to approval of shareholders.

Place: Kolkata By order of the Board of Directors

Dated : May 14, 2025

BERGER PAINTS INDIA LIMITED

' . Iv��
Registered Office : Abhijit Ro � ...., vg
Berger House, Ma0agi11g Director & CEO
129 Park Street, Kolkata 700 017 DIN : 03439064
BERGER PAINTS INDIA LIMITED
CIN : L51434WB1923PLC004793
AUDITED STANDALONE BALANCE SHEET AS AT MARCH 31, 2025

Rs. In crores
Asat Asat
Particulars March 31, 2025 March 31, 2024
Audited Audited
ASSETS

Non-current assets
Property, plant and equipment 2,378.50 2,259.66
Capital work-in-progress 76.95 128.72
Intangible assets 13.66 12.32
Right-of-use assets 580.59 610.29
Intangible asset under development 2.68 1.61
Financial assets
(a) Investments 745.42 745.42
(b) Trade receivables 10.14 20.93
(c) Loans 35.53 32.50
(d) Other financial assets 98.44 96.06
Income tax assets (net) 39.79 36.21
Other non-current assets 61.01 14.07
4,042.71 3,957.79

Current assets
Inventories 2,206.60 2,019.43
Financial assets
(a) Investments 303.96 51.35
(b) Trade receivables 1,124.37 979.39
(c) Cash and cash equivalents 141.39 151.20
(d) Bank balances other than (c) above 224.46 183.04
(e) Loans 4.00 4.00
(f) Other financial assets 36.09 70.36
Other current assets 92.93 165.10
4,133.80 3,623.87

Total assets 8,176.51 7,581.66

EQUITY AND LIABILITIES

Equity
Equity share capital 116.59 116.58
Other equity 5,564.47 4,888.66
Total equity 5,681.06 5,005.24

Liabilities

Non-current liabilities
Financial liabilities
(a) Lease liabilities 392.99 418.75
(b) Other financial liabilities 65.02 69.59
Provisions 5.01 4.64
Deferred tax liabilities (net) 38.96 37.06
Other non- current liabilities 7.71 10.11
509.69 540.15

Current liabilities
Financial liabilities
(a) Borrowings 0.39 64.41
(b) Lease liabilities 99.11 96.16
(c) Trade payables
i) Total outstanding dues of micro enterprises and small enterprises 73.48 56.07
ii) Total outstanding dues of creditors other than micro enterprises and small 1,495.86 1,511.12
enterprises
(d) Other financial liabilities 111.07 106.26
Other current liabilities 113.86 123.30
Provisions 62.69 56.14
Income tax liabilities (net) 29.30 22.81
1,985.76 2,036.27

Total liabilities 2,495.45 2,576.42

Total equity and liabilities 8,176.51 7,581.66

BERSER PAINTS INDIA LIMITED
STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2025
Rs. in crores
Year ended March Year ended March
Particulars 31, 2025 31, 2024
Audited Audited
A. Cash flows from operating activities:

Profit before tax 1,430.74 1,367.45

Adjustments to reconcile profit before tax to net cash flows :
Depreciation and amortisation expense 317.75 296.99
(Profit)/loss on sale/discard of Property, plant and equipment* 1.55 0.00
Share based payment to employees 6.12 5.71
Sundry balances written back (3.45) (5.11)
Gain on early termination of leases (4.62) (3.20)
Corporate guarantee Income (0.05) (0.05)
Net foreign exchange differences (unrealised) 1.59 0.41
Impairment loss on trade receivables 23.40 12.89
Net gain on sale of mutual fund investments measured at Fair Value Through Profit or Loss (FVTPL) (14.24) (5.10)
Fair value gain on mutual fund investments measured at Fair Value Through Profit or Loss (FVTPL) (2.25) (0.22. )
Dividend income (53.90) (2.06)
Finance costs 47.86 64.66
Interest income (20.86) (20.16J
Operating profit before working capital changes 1,729.64 1,712.22
Adjustments for :
lncrease/(Decrease) in trade payables 3.66 (103.32)
Decrease in other financial liabilities (0.16) (7.36)
lncrease/(Decrease) in other liabilities (11.84) 26.24
Increase in provisions 6.84 3.89•
Decrease in deposits and other financial assets 13.97 13.15
Decrease in other assets 73.06 63.87
Increase in trade receivables ( 160.67) (44.52 !
(lncrease)/Decrease in inventories (187.17) 126.67 1
Cash generated from operations 1,457.33 1,790.84
Direct taxes paid (net of refunds) (348.50) (307.94
Net cash flows from operating activities (A) 1,118.83 1,482.90
B. Cash flows from investing activities:
Purchase of property, plant and equipment and intangible assets (including capital work in progress and
(355.56) (213.12)
intangible assets under development)
Proceeds from sale of property, plant and equipment and intangible assets 1.81 2.21 I
Loan given to subsidiary (7.03) (12.36)
Loan repaid by subsidiary 4.00 -
Proceeds from sale of current investments 1,496.67 1,545.26
Purchase of current investments (1,732.79) ( 1,565.16)
Proceeds from maturity of fixed deposits with banks 237.53 112.84
Investment in fixed deposits with banks (260.46) (178.69)
Dividend received 53.90 2.06
Interest received 18.77 10.64
I
Net cash flows used In Investing activities (Bl (543.16) (296.32)
C. Cash flows from financing activities:

Proceeds from issuance of equity share capital 0.01 0.01

Net movement in cash credit (4.02) 3.98
Other short term borrowings taken 650.05 6,407.04
Repayment of other short term borrowings (710.05) (7,021.31)
Payment of lease liabilities - principal portion (75.85) (112.60)
Payment of lease liabilities - interest portion (36.89) (33.34)
Interest paid (0.70) (25.17)
Dividend paid (408.03) (310.86)
Net cash flows used in financing activities (C) (585.48) (1,092.25)

Net lncrease/(Decrease) in cash and cash equivalents [A+B+C) (9.81) 94.33

Cash and cash equivalents as at the beginning of the year 151.20 56.87
Cash and cash equivalents as at end of the year 141.39 151.20

Components of cash and cash equivalents

Balances with banks:

- On current accounts 137.10 144.92
- Deposits with original maturity of less than three months 1.75 4.00
Cheques/drafts on hand 2.35 2.11
Cash on hand 0.19 0.17
Total cash and cash equivalents 141.39 151.20

* Amount is below the rounding off norms of the company �

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S.R. BArL1Bo1 & Co. LLP
Chartered Accountants
2 2 , Camac Street
3rd Floor, Block 'B'
Kolkata - 700 016, India
Tel : +91 33 6134 4000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results
of the Company Pursuant to the Regulation 33 of the SE:Bl (Listing Obligations and Disclosure
Requirements) Regulations, 201 5, as amended

To
The Board of Directors of
Berger Paints India Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results
of Berger Paints India Limited ("Holding Company") and its subsidiaries (the Holding Company and
its subsidiaries together referred to as ''the Group") and its joint ventures for the quarter ended March
31, 2025 and for the year ended March 31, 2025 ("Statement"), attached herewith, being submitted by
the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations")
In our opinjon and to the best of our information and according to the explanations given to us an<l
based on the consideration of the reports of the other auditors on separate audited financial statements/
financial results/financial information of the subsidiaries I joint ventures, the Statement:

i. includes the results of the following entities;

Entity Relationship
SBL Specialty Coatings Private Limited Subsidiary
Beepee Coatings Private Limited Subsidiary
Berger Jenson & Nicholson (Nepal) Private Limited Subsidiary
Berger Hesse Wood Coatings Private Limited Subsidiary
STP Limited Subsidiary
Berger Rock Paints Private Limited Subsidiary
Lusako Trading Limited Subsidiary
Bolix S.A. ( I 00% Subsidiary of Lusako Trading Limited) Step-down subsidiary
Build-Trade sp. z.o.o. ( I 00% Subsidiary of Bolix S.A.) Step-down subsidiary
Soltherm External Insulations Limited (100% Subsidiary ofBolix Step-down subsidiary
S.A.)
Bolix UKRAINE sp. z.o.o. (100% Subsidiary of Bolix S.A.) Step-down subsidiary
Soltherm Lnsolations Thermique Exterieure SAS (Ltd.) (100% Step-down subsidiary
Subsidiary of Bolix S.A.)
A step-down joint venture
Surefire Management Services Ltd ( I 00% Subsidiary of Bolix
S.A) which got converted into a
step-down subsidiary with
effect from April 23, 2024
Berger Paints (Cyprus) Limited Subsidiary
Berger Paints Overseas Limited [100% Subsidiary of Berger Step-down subsidiary
Paints (Cyprus) Limited]
Berger Becker Coatings Private Limited Joint Venture
Berger Nippon Paint Automotive Coatings Private Limited Joint Venture

S.R. Batliboi & Co. LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294
Regd. Office : 22, Camac Street. Block ·a•. 3rd Floor, Kolkata-700 016
S.R. BArL1Bo1 & Co. LLP
Chartered Accountants

11. are presented in accordance with the requirements of the Listing Regulations in this regard;
and
111. gives a true and fair view in conformity with the applicable accounting standards, and other
accounting principles generally accepted in India, of the consolidated net profit and other
comprehensive loss and other financial information of the Group for the quarter ended
March 31, 2025 and for the year ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with. the Standards on Auditing (SAs), as specified under
Section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those
Standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated
Financial Results" section of our report. We are independent of the Group and its joint ventures in
accordance with the 'Code of Ethics' issued by the institute of Chartered Accountants of lndia together
with the ethical requirements that are relevant to our audit of the financial statements under the
provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code of Ethics. We bel ieve that the audit evidence
obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below,
is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The
Holding Company's Board of Directors are responsible for the preparation and presentation of the
Statement that give a true and fair view of the net profit and other comprehensive loss and other financial
information of the Group including its joint ventures in accordance with the appl icable accounting
standards prescribed under section 1 33 of tbe Act read with relevant rules issued thereunder and other
accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing
Regulations. The respective Board of Directors of the companies included in the Group and of its joint
ventures are responsible for maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of their respective companies and for preventing
and detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and the design,
implementation and maintenance of adequate internal financial controls, that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the Statement that give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of preparation of the Statement by
the Directors of the Holding Company, as aforesaid.
In preparing the Statement, the respective Board of Directors of the companies included in the Group
and of its joint ventures are responsible for assessing the ability of their respective companies to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Group or to cease
operations, or has no real istic alternative but to do so.
The respective Board of Directors of the companies included in the Group and of its joint ventures are
also responsible for overseeing the financial reporting process of their respective companies.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
S.R. BArL1Bo1 & Co. LLP
Chartered Accountants

opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted
in accordance with SAs will always detect a material misstatement when it exists. M isstatements can
arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud
may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under Section 1 43(3)(i) of the Act,
we are also responsible for expressing our opinion on whether the company has adequate
internal financial controls with reference to financial statements in place and the operating
effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the ability of the Group and
its joint ventures to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor's report to the related disclosures in the
Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor's report. However, future
events or conditions may cause the Group and its joint ventures to cease to continue as a going
concern.
• Evaluate the overall presentation, structure and content of the Statement, including the
disclosures, and whether the Statement represent the underlying transactions and events in a
manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regardi ng the financial results/financial
information of the entities within the Group and its joint ventures of which we are the
independent auditors to express an opinion on the Statement. We are responsible for the
direction, supervision and performance of the audit of the financial information of such entities
included in the Statement of which we are the independent auditors. For the other entities
included in the Statement, which have been audited by other auditors, such other auditors
remain responsible for the direction, supervision and performance of the audits carried out by
them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities
included in the Statement of which we are the independent auditors regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit. We also provide those charged with
governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably
be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the Master Circular issued by the Securities
Exchange Board of l ndia under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
S.R. BArL1Bo1 & Co. LLP
Chartered Accountants

Other Matter

I (a) The accompanying Statement includes the audited financial results/statements and other
financial information, in respect of nine (9) subsidjaries (including one ( I ) step-down
subsidiary) and consolidated financial results/statements and other financial information in
respect of one ( 1 ) step-down subsidiary (including its five (5) step-down subsidiaries), whose
financial results/statements include total assets of Rs. 1 ,869.62 crore as at March 3 1 , 2025, total
revenues of Rs.385.57 crore and Rs. 1 ,484.52 crore, total net profit after tax of Rs. 1 6.59 crore
and Rs. 1 2 1 .28 crore, total comprehensive income of Rs.58.09 crore and Rs. 1 29.23 crore, for
the quarter and the year ended on that date respectively, and net cash inflows of Rs.23.50 crore
for the year ended March 3 1 , 2025, as considered in the Statement which have been audited by
their respective independent auditors.

I (b) The accompanying Statement also includes the audited financial results/statements and other
financial information, in respect of two (2) joint ventures, whose financial results/statements
incl ude Group's share of net profit of Rs.9.34 crore and Rs.3 1 .99 crore and Group's share of
total comprehensive income of Rs.9.56 crore and Rs.3 1 .96 crore for the quarter and for the year
ended March 3 1 , 2025 respectively, as considered in the Statement whose financial
results/financial statements, other financial information have been audited by their respective
independent auditors.

I ( c) The accompanying Statement also incl udes the audited financial results/statements and other
financial information, in respect of one ( I ) joint venture of a step-down subsidiary, whose
financial results/statements include Group's share of net profit of Rs.3.07 crore and Group's
share of total comprehensive income of Rs.3.07 crore for the period from April O J , 2024 till the
date on which this joint venture got converted into a step-down subsidiary during the quarter
ended June 30, 2024, as considered in the Statement whose financial results/financial
statements and other financial information have been audited by the independent auditor of that
step-down subsidiary.

The independent auditor's report on the financial statements/financial results/financial information of

these entities have been furnished to us by the Management and our opinion oil the Statement in so far
as it relates to the amounts and disclosures incl uded in respect of these subsidiaries and joint ventures
is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph
above.

Certain of these subsidiaries (including step-down subsidiaries) are located outside lndia whose
financial results/financial statements and other financial information have been prepared in accordance
with the accounting principles generally accepted in their respective countries and which have been
audited by other auditors under generally accepted auditing standards applicable in their respective
countries. The Holding Company's management has converted the financial results / financial
statements of such subsidiaries (including step-down subsidiaries) located outside f ndia from
accounting principles generally accepted in their respective countries to accounting principles generally
accepted in India. We have audited these conversion adj ustments made by the Holding Company's
management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries (including
step-down subsidiaries)located outside l ndia is based on the report of other auditors and the conversion
adj ustments prepared by the management of the Holding Co_mpany and audited by us.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reljance
on the work done and the reports of the other auditors.
S.R. BATI.IBOI & Co. LLP
Chartered Accountants

2. The Statement includes the results for the quarter ended March 31, 2025 being the balancing
figures between the audited figures in respect of the fuJ I financial year ended March 31, 2025
and the published unaudited year-to-date figures up to the end of the third quarter of the current
financial year, whfoh were subjected to a ljmited review by us, as required under the Listing
Regulations.

For S.R. Batliboi & Co. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005

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Partner
Membership No. : 096766

UDIN: ��O�b1h t ll.) t-'1 l O TA 1 � / B

Place: Kolkata
Date : May 14, 2025
BERGER PAINTS INDIA LIMITED
CIN : L51434WB1923PLC004793
YEAR ENDED MARCH 31, 2025
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND Rs in crores
For the quaner ended For the year ended
31.03.2025 31.12.2024 31.03.2024 31.03.2025 31.03.2024
Sr No Paniculars
Audited Audited Audited
Unaudited Audited
/Refer note 2l tRefer note 2l
1 Income
2,704.03 2,975.06 2,520.28 11,544.71 11, 198.92
(a) Revenue from operations
17.11 20.24 15.88 94.78 63.68
(b) Other Income (Refer Note-4)
2,721.14 2,995.30 2,536.16 11,639.49 11,262.60
Total Income
2 Expenses 5,597.48
1,393.22 1,405.95 1,322.47 5,874.69
(a) Cost of materials consumed
247.87 249.00 229.38 1,021.65 923.77
(b) Purchases of stock-in-trade
(lncrease)/decrease in inventories of finished goods, stock-in-trade and (92.02) 81.92 (56.44) (134.41) 124.75
(c)
work-in-progress
201.52 199.83 174.39 814.70 713.03
(d) Employee benefits expense
15.10 15.99 17.84 63.27 78.25
(e) Finance costs
89.19 88.81 86.89 354.19 330.88
(f) Depreciation and amonisation expense
525.67 566.63 499.60 2,111.99 1,978.57
(g) Other expenses
Total expenses 2,380.55 2,608.13 2,274.13 10,106.08 9,746.73
3 Profit before share of joint ventures and tax (1-2) 340.59 387.17 262.03 1,533.41 1,515.87
4 Share of profit of joint ventures, net of tax (Refer Note-7) 9.34 7.24 32.02 35.06 41.02
5 Profit before tax (3+4) 349.93 394.41 294.05 1,568.47 1,556.89

6 Tax Expense
Current tax 94.67 94.54 64,88 386.88 375.46
Deferred Tax charge/(credit) (7.65) 3.90 6:S5 (1.22) 11.61
Total tax expense 87.02 98.44 71.43 385.66 387.07

7 Net Profit for the period (5-6) 262.91 295.97 222.62 1,182.81 1,169.82

8 Other comprehensive income not to be reclassified to profit or loss in

subsequent periods -
a) Re-measurement gains/(losses) on defined benefit obligations ( 1.65) 2.03 (0.02) (0.91) (0.22)
b) Income tax relating to items not to be reclassified to profit or loss in
0.40 (0.51) 0.01 0.22 0.06
subsequent periods
c) Share of Other comprehensive income in Joint Ventures (net of tax) 0.22 (0.25) 0.05 (0.03) 0.05

9 Other comprehensive Income to be reclassified to profit or loss in

subseouent oeriods
Exchange differences on translation of foreign operations (7.99) 10.53 (1. 17) (2.61), 22.40
10 Total other comprehensive income/(loss) (8+9) (9.02) 11.80 (1.13) (3.33) 22.29

11 Total comprehensive Income for the period (7+10) 253.89 307.77 221.49 1,179.48 1,192.11

12 Profit for the period attributable to:

-Owners of the Company 262.05 295.13 222.10 1, 180.40 1, 167.74
-Non-controlling interest 0.86 0.84 0.52 2.41 2.08
262.91 295.97 222.62 1,182.81 1,169.82
13 Other comprehensive income/(loss) for the period attributable to
-Owners of the Company (9.00) 11.80 (1.11) (3.31) 22.31
-Non-controlling interest (0.02) (0.00) (0.02) (0.02) (0.02)
(9.02) 11.80 (1.13) (3.33) 22.29
14 Total comprehensive income for the period attributable to
-Owners of the Company 253.05 306.93 220.99 1,177.09 1,190.05
-Non-controlling interest 0.84 0.84 0.50 2.39 2.06
253.89 307.77 221.49 1,179.48 1,192.11
15 Paid-up equity share capital 116.59 116.58 116.58 116.59 116.58
(Face value of Re. 1 / - each)
16 Other Equity 6,037.51 ' 5,262.39 ,
17 Earnings Per Share (of Re. 1/- each)
(a) Basic (amount in INR) 2.25# 2.53# 1.91# 10.13 10.02
(b) Diluted (amount in INR) 2.25# 2.53# 1.90# 10.12 10.02
# Not annualised
See accompanying notes to the consolidated financial results
Notes :
1) The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under section 133 of the Companies Act, 2-013 read together
with the Companies (Indian Accounting Standards) Rules, 2015, as amended. These results. as reviewed by the Audit Committee, were approved and taken on record by
the Board of Directors at its meeting held on May 14, 2025.These results have been audited by the statutory auditors and the related report does not have·any impact on
the above 'Results & Notes' for the quarter and year ended March 31, 2025, which needs to be explained.

2 ) The figures of the last quarters are the balancing figures between the audited figures in respect of the full financial year up to 31st March and the Uflaudited published
year-to-date figures up to 31st December which were subjected to limited review.

3) The Group is principally engaged in the business of manufacturing paints, coatings and allied products with similar risk, returns and internal business reporting system.
Accordingly, there are no reportable segment(s) other than "Paints", which singly or in aggregate qualify tor separate disclosure as per provisions of tile rel�vant Ind AS
108 "operating segments".

4) In April 2024, Bolix S.A, a step-down subsidiary of the Parent Company had invested an additional sum of Rs. 8.62 crore in its joint venture company Surefire
Management Services Limited (SMSL) to acquire the balance 25% stake, thereby converting it into a 100% wholly owned subsidiary. Accordingly, on April 23, 2024, Bolix
S.A remeasured its previously held equity interest in SMSL at fair value and had recognised the resulting gain amounting to Rs. 13.38 crore. Accordingly, the identifiable
assets acquired and liabilities assumed were recognised at their respective fair values as at the acquisition date with a resultant goodwill amounting to Rs. 22.21 crore.

5) During the year ended March 31, 2025, the Holding Company's Compensation and Nomination and Remuneration Committee allotted 98,730 equity shares of Re 1/­
each fully paid to the eligible employees on exercise of options granted to them under Employee Stock Option Plan, 2016. Following completion; of all necessary
formalities, the aforesaid equity shares were credited to the eligible employee's accounts during financial year 2024-25. Also, during the year, the Holding Company's
Compensation and Nomination and Remuneration Committee granted 2,01,206 Stock Options of Re 1/- each fully paid up to the eligible employees pursuant to
Employee Stock Option Plan. 2016, as amended, and as approved by the shareholders of the Holding Company through Postal Ballot on 17th September, 2024.

6) The Board or Directors or the Holding Company have recommended dividend of Rs. 3.80 (380%) per equity share of Re.1/- each for the financial year ended March 31,
2025 which is subject to approval of shareholders.

7) In an earlier year, there was a fire in the factory of Berger Becker Coatings Private Limited in Goa, a joint venture of the Group.The Group's share of financial Impact of
the loss due to fire amounting to Rs. 25.35 crores was recognised in such earlier year, following principles of prudent accounting. Insurance claim against the same was
received in the quarter and year ended March 31, 2024 and Group's share of corresponding income amounting to Rs.22.53 crores was duly recognised In the quarter and
year ended March 31, 2024.

Place: Kolkata
By Order -Of the Board of lilirectors
Dated : May 14, 2025

•' • (;)'°"-•
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/
BERGER PAINTS INDIA LIMITED
Abilijit R�
Registered Office : I 0
Berger House, / Managing Director & CEO
DIN - 03439064
129 Park Street, Kolkata 700 017
BERGER PAINTS INDIA LIMITED
CIN : L51434WB1923PLC004793
AUDITED CONSOLIDATED BALANCE SHEET AS AT MARCH 31, 2025
Rs In Crores
Asat As at
March 31, 2025 March 31, 2024
Particulars Audited Audited

ASSETS
Non-current assets 2,693.45 2,515.94
Property, plant and equipment 122.64 187.34
Capital work-In-progress 323.14 304.66
Goodwill (Refer Note-4) 30.63 16.80
Other Intangible Assets 662.32
629.77
Right-of-Use Assets 1.61
2.68
Intangible assets under development 169.16
198.95
Investments in Joint Ventures (Refer Note-4)
Financial assets 0.00
0.00
(a) Investments * 20.93
10.14
(b) Trade Receivables 98.71
101.68
(c) Other Financial Assets 0.86
6.82
Deferred tax assets (net)
47.42 48.51
Income tax assets (net)
74.02 23.79
Other non-current assets
4,241.34 4,050.63
;
Current Assets
2,366.14 2,179.68
Inventories
Financial assets
(a) Investments 333.68 85.91
(b) Trade receivables 1,535.67 1,302.02
(c) Cash and cash equivalents 253.95 240.26
(d) Bank balances other than (c) above 246.53 210.39
(e) Loans 43.07
(f) Other financial assets 37.09 71.39
Other current assets 117.24 185.31
4,890.30 4,318.03
Total assets 9,131.64 8,368.66

EQUITY AND LIABILITIES

Equity
Equity share capital 116.59 116.58
Other equity 6,037.51 , 5,262.39
Equity attributable to equity holders of the parent 6,154.10 5,378.97
Non-controlling interest 12.59 10.20
Total Equity 6,166.69 5,389.17

Liabilities

Non-Current Liabilities
Financial liabilities
(a) Borrowings 2.96 6.00
(b) Lease liabilities 415.81 442.27
(c) Other financial liabilities 68.21 72.35
Provisions 15.27 12:93
Deferred tax liabilities (net) 74.78 70.79
Other non-current liabilities 8.21 12.64
585.24 616.98

Current Liabilities
Financial liabilities
(a) Borrowings 143.28 199.44
(b) Lease Liabilities 108.22 105.58
(c) Trade payables
i) Total outstanding dues of micro enterprises and smail enterprises 77.94 60.46
ii) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,662.33 1,618.75
(d) Other financial liabilities 145.19 150.68
Other current liabilities 145.28 143.22
Provisions 66.72 61.57
Income tax Liabilities (net) 30.75 22.81
2,379.71 2,362.51

-
Total Liabilities 2,964.95 2,979.49
TOTAL EQUITY AND LIABILITIES 9 131.64 8,368.66

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BERGER PAINTS INDIA LIMITED
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 202S
Rs. In Crores
Year ended March Year ended
Particulars 31.2025 March 31.2024
Audited Audited

A. Cash flows from operating activities:

Profit before tax 1,568.47 1,556.89

Adjustments to reconcile profit before tax to net cash flows :
Depreciation and ijmortisation expense 354.19 330.88
(Profit)/loss on sale/discard of Property, plant and equipment and intangible assets 0.37 (1.24)
Share based payment to employees 6.12 5.71
Sundry balances written back (3.47) (5.14)
Gain on early termination of leases (4.62) (3.20)
Net foreign exchange differences (unrealised) (1.09) 0.14
Impairment loss on trade receivables 27.34 21.31
Net gain on sale of mutual fund investments measured at Fair Value Through Profit or Loss (FVTPL) (16.38) {6.16)
Fair value gain on mutual fund investments measured at Fair Value Through Profit or Loss (FVTPL) (3.23) (1.47)
Share of profit in joint ventures, net of tax (35.06) (41.02)
Finance costs 63.27 78.25
Interest income (25.89) (25.54)
Fair value gain on acquitision of subsidiary (Refer Note-4) {13.38) -
Operating profit before working capital changes 1,916.64 1,909.41
Adjustments for :
lncrease/(Decrease) in trade payables 4.05 (82.69)
Decrease in other financial liabilities (22.97) (22.78)
Increase/ (Decrease) in other liabilities (15.96) 27.99
I ncrease/ (Decrease) in provisions 6.15 1 (4.64)
Decrease in deposits and other financial assets 8.26 15.46
Decrease in other assets 65.75 60.74
Increase in trade receivables (132.11) (103.31)
(Increase)/ Decrease in inventories (182.91) 139.43
Cash generated from operations 1,646.90 1,939.61
Direct taxes paid (net of refunds) (377.85) {348.56)
Net cash flows from operating activities (A) 1,269.05 1,591.05
B. Cash flows from investing activities:
Purchase of property, plant and equipment and intangible assets
(429.44) (274.99)
(including capital work in progress and intangible assets under development)
Proceeds from sale of property, plant and equipment and intangible assets 4.90 4.46
Loan given to Joint Venture (5.11) (38.98)
Proceeds from sale of current investments 1,582.40 ,572.10
Purchase of current investments (1,810.56) ( 1,597.42)
Proceeds from maturity of fixed deposits with banks 264.88 123.97
Investment in fixed deposits with banks (275.82) .(204.79)
Dividend received from Joint Venture 2.14 2.06
Interest received 24.35 15.53
Acquisition of subsidiary (net of cash acquired) (Refer Note-4) (7.62) -
Net cash flows used in investing activities (Bl (649.88) (398.06)
C. Cash flows from financing activities:
Proceeds from issuance of equity share capital 0.01 0.01
Net movement in cash credit {19.37) 19.65
Repayment of long term borrowings (2.88) (1.49)
Proceeds from short term borrowings 672.82 6,445.21
Repayment of short term borrowings (710.05) (7,025.58)
Payment of lease liabilities - principal portion (86.29) (123.72)
Payment of lease liabilities - interest portion (39.29) . (36.19)
Interest paid (12.46) f35.90)
Dividend paid (408.03) (310.86)
Net cash flows used in financing activities (C) (605.54) (1,068.87)

Net Increase in cash and cash equivalents [A+B+C] 13.63 124.12

Cash and cash equivalents as at the beginning of the year 240.26 116.17
Effects of exchange rate changes on cash and cash equivalents 0.06 (0.03)
Cash and cash equivalents as at end of the year 253.95 240.26

Components of cash and cash equivalents

Balances with banks:

- On current accounts 182.88 175.66

8
- Deposits with original maturity of less than three months 68.22 62.02
Cheques/drafts on hand 2.35 2.11
0.50 0.47

-
Cash on hand
Total cash and cash equivalents 253.95 240.26

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 Berg e r Pai nts I n d ia Lim ited
(CIN: L5 1 434WB 1 923PLC004793)
Registered Office: Berger House, 1 29, Park Street, Kolkata 700 0 1 7
Corporate Office : CF-4, Action Area - 1 , Premises No. 02-0 1 73 , New Town - 700 1 56
Ph No.: 9 1 47720400
Website: www.bergerpaints.com
E-mail: consumerfeedback@bergerindia.com

PRESS REL EAS E

Fina ncial Res u l ts fo r t h e qua rter a n d yea r ended 3 p t M a rch, 2025

04 Performance High lights

• High single digit volume growth in Decorative segm ent. Sequential uptick in value growth
• Industrial business h ad a good performance in the quarter
• Decorative Market share im provement sustained in Q4 in spite of increased com petition
• Operating margin increased by a robust 1 9.8% on the back of improved gross m argin and
d isciplined cost management - Highest Gross Margin in the past 1 2 Quarters

H ighl ights of the Consolidated Qua rterly Res u l ts:

a. Revenue from Operations for the quarter ended 3 1st March, 2025 was Rs. 2,704.0 crores as against Rs
2,520.3 crores in the corresponding quarter of the last financial year, representing an increase of 7.3% over
the correspond ing period of last financ ial year.

b. EBI DTA (exc l uding other income) for the quarter ended 3 1 51 March, 2025 was Rs. 427.8 crores as against
Rs. 350.9 crores in the corresponding quarter of the last financ ial year, representing an increase of 2 1 .9%
over the corresponding period of last financial year.

c. Net Profit for quarter ended 3 1 st March, 2025 was Rs. 262.9 crores as against Rs. 222.6 crores in the
correspond ing quarter of the last financial year, representing an i ncrease of 1 8. l % over the corresponding
period of last financial year.

H ighligh ts of the Standalone Quarterly Results :

a. Revenue from Operations for the quarter ended 3 ! 51 March, 2025 was Rs. 2,347.5 crores as against Rs.
2,249. 1 crores in the corresponding quaiier of the last financial year, representing an increase of 4.4% over
the correspond ing period of last financ ial year.

b. EB I DTA (excluding other income) for the quarier ended 3 1st March, 2025 was Rs. 3 89.5 crores as against
Rs.325 . 1 crores in the corresponding quarter of the last financ ial year, representing an increase of 1 9.8% over
the corresponding period of last financial year.

c. Net Profit for quarier ended 3 1 st March, 2025 was Rs. 23 6.9 crores as against Rs. 8 1 .6 crores in the
corresponding quarter of the last financ ial year, representing an i ncrease of 30.5% over the corresponding
period of last financial year.
 H ighl ights of t h e Consolidated Yearly Results :

a. Revenue frorn Operations for the year ended 3 1 st March, 2025 was Rs. 1 1 ,544.7 crores as against Rs. J 1 , 1 98.9
crores in the corresponding financial year, representing an i ncrease of 3 .1 % over the corresponding period
of last financial year.

b. EBJ DTA (exc l ud ing other income) for the year ended 3 1 st March, 2025 was Rs. 1,856. 1 crores as against Rs.
1 ,86 1 .3 crores in the corresponding financial year, representing a decrease of 0.3% over the corresponding
period of l ast financial year.

c. Net Profit for the year ended 3 1 51 March, 2025 was Rs 1, 1 82. 8 crores as against Rs. 1 , 169.8 crores i n the
corresponding last financ ial year, representing an increase of 1 . 1 % over the corresponding period of last
financial year.

H ighl ights of the Standalone Yea rly Resu l ts:

a. Revenue from Operations for the year ended 3 1 st March, 2025 was Rs. 10, 1 69.2 crores as agai nst Rs. I 0,002.9
crores in the corresponding fi nancial year, representing an increase of 1 .7% over the corresp011ding period
of last financial year.

b. EB l DTA (exc l uding other i ncome) for the year ended 3 1 st March, 2025 was Rs. 1 ,674. 1 crores as against Rs.
1,67 1 . 7 crores i n the corresponding last financial year, representing an increase of 0. 1 % over the
correspond ing period of last financial year.

c. Net Profit for the year ended 3 1 st March, 2025 was Rs 1 ,077.5 crores as against Rs. 1 ,0 1 5 . 1 crores in the
correspond ing last financial year, representing an i ncrease of 6 .2% over the corresponding period of last
financia I year.

" The tough market conditions continued into the fourth quarter with muted urban demand and increased
competition intensity. In spite of this we were able to deliver high single-digit volume growth, with
sequential improvement in value pe,formance with reduced gap between volume-value growth gap,
supported by easing impact of Q4 FY24 price reductions and momentum in the premium emulsion
category. The visible improvement in the industrial and decorative segments were good indicat.ors of a
demand improvement cycle.
Operating margin remained within the guided range, aided by improved gross margin and disciplined
cost management. Q4FY25 saw the company achieve the highest Gross Margin % in the past 12 quarters.
Ebidtafor the quarter saw a strong improvement and we are happy to report that we are current(y at zero
gross debt and have further improved our net cash position at the end of the quarter.
We continue to register robust growth in the waterproofing, construction chemicals and wood coating
segments. The industrial segment also saw resilient performance, which bodes well for us in the months

,t---
�0
ahead.
On the international front, our operations in Poland and Nepal saw good topline pe,formances with the
��:::::,...._
Nepal operations seeing a turnaround on the back of improved business conditions and a low base.
L I Mi,r
e remain optimistic about the demand scenario for the months ahead on the back of the favorable
;;; ll get announcements, government spending on infrastructure & development and a good monsoon
�,. � son. The strained geopolitical conditions in the immediate neighbourhood seems to have stabilized
0
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/).,
......_
1 7 CJ--o ich hopefitlly will continue.
As always, Berger Paints India Limited is focused on living up to the legacy of trust and innovation and
will continue to introduce our customers and industry influencers to a slew of innovative products and
services as we progress. Our latest launches in the form of Roof Kool & Seal and Tank Kool have seen
enthusiastic acceptance in the market and we hope to see similar reception to the remaining launches
scheduled for the upcoming season. " said Abhijit Roy, Managing Director & CEO of Berger Paints
India Limited.