Indigo Paints vs Kansai Nerolac vs Choice International: Which Stock Should You Track
- September 29, 2026
- Posted by: Lakshit Sharma
- Category: Market
Indigo Paints PE 32.38, mkt cap Rs 5,285 crore. Kansai Nerolac Paints PE 24.39, mkt cap Rs 14,361 crore. Choice International PE 67.21, mkt cap Rs 16,845 crore.
Quick Answer
Indigo Paints vs Kansai Nerolac Paints vs Choice International is a side-by-side comparison of three companies from the Paints and Coatings space. On this comparison, Indigo Paints carries a market capitalisation of about Rs 5,285 crore against Rs 14,361 crore for Kansai Nerolac Paints and Rs 16,845 crore for Choice International, with return on equity of 12.57%, 8.78% and 13.02% respectively. Each company’s numbers are presented here without a declared better pick, since the right stock depends on an investor’s own criteria.
Indigo Paints vs Kansai Nerolac Paints vs Choice International starts with the core numbers most investors compare within the Paints and Coatings segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of September 2026 and will shift with daily price moves.
All three names sit in the Paints and Coatings bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.
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Indigo Paints, Kansai Nerolac Paints and Choice International: Company Overview
Indigo Paints is a listed Indian company in the Paints and Coatings space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Kansai Nerolac Paints is a listed Indian company in the Paints and Coatings space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Choice International is a listed Indian company in the Paints and Coatings space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Indigo Paints vs Kansai Nerolac Paints vs Choice International: Valuation and Profitability Snapshot
| Metric | Indigo Paints | Kansai Nerolac Paints | Choice International |
|---|---|---|---|
| Market Cap (approx.) | Rs 5,285 crore | Rs 14,361 crore | Rs 16,845 crore |
| PE Ratio (TTM) | 32.38 | 24.39 | 67.21 |
| PB Ratio | 4.58 | 2.14 | 10.34 |
| Return on Equity (ROE) | 12.57% | 8.78% | 13.02% |
| EPS (TTM, Rs) | 34.20 | 7.28 | 11.25 |
| Dividend Yield | 0.45% | 2.11% | 0.00% |
| Debt to Equity | 0.02 | 0.05 | 0.54 |
| Book Value per Share (Rs) | 241.77 | 83.00 | 73.16 |
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On valuation, Indigo Paints trades at a PE of 32.38 and a PB of 4.58, Kansai Nerolac Paints at a PE of 24.39 and a PB of 2.14, while Choice International trades at a PE of 67.21 and a PB of 10.34. On return on equity, the three post 12.57%, 8.78% and 13.02% respectively, and on dividend yield they stand at 0.45%, 2.11% and 0.00%.
Indigo Paints vs Kansai Nerolac Paints vs Choice International: Latest Quarterly Results
| Company | Latest Quarter Revenue | Latest Quarter Net Profit | YoY Change (Revenue) | QoQ Change (Revenue) |
|---|---|---|---|---|
| Indigo Paints | Rs 379.86 crore | Rs 41.70 crore | +20.7% | -10.7% |
| Kansai Nerolac Paints | Rs 2,428.53 crore | Rs 228.41 crore | +9.7% | +22.4% |
| Choice International | Rs 319.03 crore | Rs 60.61 crore | +34.1% | +1.7% |
Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter.
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What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three paints and coatings names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.
Conclusion
Indigo Paints vs Kansai Nerolac Paints vs Choice International highlights how differently three companies in the same paints and coatings segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Indigo Paints vs Kansai Nerolac Paints vs Choice International
What is the market cap difference between Indigo Paints, Kansai Nerolac Paints and Choice International?
Ans. As of September 2026, Indigo Paints has a market cap of approximately Rs 5,285 crore, Kansai Nerolac Paints is at approximately Rs 14,361 crore, and Choice International is at approximately Rs 16,845 crore.
Which of the three has the highest PE ratio?
Ans. Among Indigo Paints, Kansai Nerolac Paints and Choice International, the PE ratios stand at 32.38, 24.39 and 67.21 respectively as of September 2026.
Which of the three has the highest ROE?
Ans. Indigo Paints, Kansai Nerolac Paints and Choice International post ROE of 12.57%, 8.78% and 13.02% respectively as of September 2026.
Which of these three stocks pays the highest dividend yield?
Ans. Indigo Paints, Kansai Nerolac Paints and Choice International carry dividend yields of 0.45%, 2.11% and 0.00% respectively.
What is the debt to equity ratio for Indigo Paints, Kansai Nerolac Paints and Choice International?
Ans. Indigo Paints carries a debt to equity of 0.02, Kansai Nerolac Paints of 0.05, and Choice International of 0.54.
Which of the three trades at the highest price to book value?
Ans. Indigo Paints, Kansai Nerolac Paints and Choice International trade at price to book ratios of 4.58, 2.14 and 10.34 respectively.
Is one of Indigo Paints, Kansai Nerolac Paints or Choice International better than the others?
Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.