3 Decorative Paints Maker, Air Conditioning Company and North East Cement Maker Stocks With a Strong Future Roadmap: Berger Paints India, Blue Star and Star Cement
- November 4, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Berger Paints India, Blue Star and Star Cement: ROE of 12.3% to 16.3% and FY22 to FY26 revenue CAGR of 8.0% to 19.6%. Prices as of 3 Nov 2026.
Quick Answer
The three paint, air conditioner and cement stocks to watch are Berger Paints India, Blue Star and Star Cement. Their return on equity ranges from 12.3% to 16.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.0% to 19.6%. Berger Paints India has the highest return on equity at 16.3%, while Blue Star has the fastest revenue growth at 19.6% a year. Prices are based on the 3 November 2026 close, and this article is educational, not investment advice.
Paint, air conditioner and cement stocks bring together companies with a visible plan for the years ahead. Berger Paints India, Blue Star and Star Cement cover a paints maker, an air conditioning company and a cement maker.
This list covers three paint, air conditioner and cement stocks with complete current figures: Berger Paints India, Blue Star and Star Cement. Every figure comes from the latest reported financials and the 3 November 2026 market close. Companies without complete current figures were left out.
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What Are Paint, Air Conditioner and Cement Stocks?
Paint, air conditioner and cement stocks are listed companies that make decorative and industrial paints, sell room air conditioners and cooling products, and produce cement in the North East. Their earnings depend on housing activity, summer cooling demand and construction spending.
Paint, Air Conditioner and Cement Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Berger Paints India | 479.7 | 54,785 | 45.0 | 42.6 | 16.3 | 0.09 |
| Blue Star | 1,572.5 | 32,243 | 63.3 | 43.1 | 15.4 | 0.24 |
| Star Cement | 175.46 | 6,481 | 17.7 | 29.6 | 12.3 | 0.19 |
On valuation, Star Cement trades at a P/E below the industry P/E, while Berger Paints India and Blue Star trade above it, which reflects the growth the market already expects. Readers comparing paint, air conditioner and cement stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Paint, Air Conditioner and Cement Stocks Have a Strong Roadmap in India?
Paint, air conditioner and cement stocks have a strong roadmap in India because new homes, rising air conditioner use and steady construction spending keep widening the market for these housing linked companies.
- Paints. Fresh homes and repaints need coatings.
- Cooling. More homes and offices add air conditioners.
- Cement. Regional building lifts cement demand.
Why Berger Paints India Features Among These Paint, Air Conditioner and Cement Stocks
Among the paint, air conditioner and cement stocks on this list, Berger Paints India is a leading paint maker with decorative, industrial and protective coatings, selling through a wide dealer network across India and in select overseas markets.
In the June 2026 quarter, revenue grew 12.2% year on year to Rs 3,623 crore, while net profit rose 28.6% to Rs 405 crore. Revenue rose from Rs 8,826 crore in FY22 to Rs 11,987 crore in FY26, a compound annual growth rate of 8.0%.
Net profit grew from Rs 833 crore in FY22 to Rs 1,128 crore in FY26, which works out to a compound annual growth rate of 7.9%. The company has a return on equity of 16.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 54,785 crore. The stock trades at a P/E of 45.0, above the industry P/E of 42.6.
Roadmap: The company is expanding capacity and its dealer reach while adding home improvement and waterproofing products. Housing demand and repainting cycles support steady volumes.
What to watch: Track volume growth, new capacity and input costs.
Why Blue Star Features Among These Paint, Air Conditioner and Cement Stocks
Among the home building and cooling shares on this list, Blue Star is an air conditioning and commercial refrigeration company that sells room air conditioners, cooling products and electro-mechanical projects across India.
The company has a return on equity of 15.4%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 32,243 crore. The stock trades at a P/E of 63.3, above the industry P/E of 43.1.
Revenue rose from Rs 6,100 crore in FY22 to Rs 12,464 crore in FY26, a compound annual growth rate of 19.6%. Net profit grew from Rs 168 crore in FY22 to Rs 527 crore in FY26, which works out to a compound annual growth rate of 33.1%. In the June 2026 quarter, revenue grew 13.4% year on year to Rs 3,399 crore.
Roadmap: The company benefits from rising air conditioner penetration, growth in commercial buildings and expansion of cold chain. A wide service network and trusted brand support market share.
What to watch: Track room air conditioner volumes, commercial cooling orders and project execution.
Why Star Cement Features Among These Paint, Air Conditioner and Cement Stocks
Among the three companies on this list, Star Cement is a leading cement maker in India’s North East, producing cement at plants in Meghalaya and Assam and selling across the region and in eastern India.
Revenue rose from Rs 2,255 crore in FY22 to Rs 3,796 crore in FY26, a compound annual growth rate of 13.9%. Net profit grew from Rs 247 crore in FY22 to Rs 390 crore in FY26, which works out to a compound annual growth rate of 12.2%.
In the June 2026 quarter, revenue grew 4.1% year on year to Rs 951 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 6,481 crore. The stock trades at a P/E of 17.7, below the industry P/E of 29.6.
Roadmap: The company is expanding capacity and widening its reach in eastern India, while infrastructure and housing spending in the North East supports demand. Its strong regional position helps pricing.
What to watch: Follow regional cement prices, capacity expansion and fuel and freight costs.
Berger Paints India vs Blue Star vs Star Cement on Key Financials
The table below sets the three paint, air conditioner and cement stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Berger Paints India | 8,826 | 11,987 | 8.0% | 1,128 | 9.4% |
| Blue Star | 6,100 | 12,464 | 19.6% | 527 | 4.2% |
| Star Cement | 2,255 | 3,796 | 13.9% | 390 | 10.3% |
Berger Paints India posts the highest return on equity in this group at 16.3%. Blue Star combines the largest FY26 revenue at Rs 12,464 crore with the fastest revenue growth, a 19.6% compound annual rate. A useful habit with paint, air conditioner and cement stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Berger Paints India | 3,229 | 3,623 | 12.2% |
| Blue Star | 2,998 | 3,399 | 13.4% |
| Star Cement | 914 | 951 | 4.1% |
Key Risks to Check Before Investing in Paint, Air Conditioner and Cement Stocks
Every theme carries risks that deserve a check before any decision. For these paint, air conditioner and cement stocks, the main points are: Long-term home building and cooling shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Housing cycles. Real estate and building demand can vary with rates and sentiment.
- Input costs. Metal and material prices can move margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter paint, air conditioner and cement stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Paint, Air Conditioner and Cement Stocks
Paint, air conditioner and cement stocks suit investors who prefer to study business strength before price moves. Berger Paints India, Blue Star and Star Cement each have a clear plan to grow. Based on the 3 November 2026 close, Berger Paints India trades at Rs 479.7, Blue Star at Rs 1,572.5 and Star Cement at Rs 175.46. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these paint, air conditioner and cement stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. 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).
What are paint, air conditioner and cement stocks?
Ans. Paint, air conditioner and cement stocks are listed companies that make decorative and industrial paints, sell room air conditioners and cooling products, and produce cement in the North East. Their earnings depend on housing activity, summer cooling demand and construction spending. This list looks at three of them, Berger Paints India, Blue Star and Star Cement, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.
Which paint, air conditioner and cement stocks are covered in this list?
Ans. This list covers Berger Paints India, Blue Star and Star Cement. Based on the 3 November 2026 close, Berger Paints India traded at Rs 479.7, Blue Star at Rs 1,572.5 and Star Cement at Rs 175.46. Their return on equity ranges from 12.3% to 16.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.0% to 19.6%.
Why do paint, air conditioner and cement stocks have a strong future roadmap in India?
Ans. Paint, air conditioner and cement stocks have a strong roadmap in India because new homes, rising air conditioner use and steady construction spending keep widening the market for these housing linked companies. The main drivers are as follows. Paints. Fresh homes and repaints need coatings. Cooling. More homes and offices add air conditioners. Cement. Regional building lifts cement demand. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Berger Paints India performed financially?
Ans. Revenue rose from Rs 8,826 crore in FY22 to Rs 11,987 crore in FY26, a compound annual growth rate of 8.0%. Net profit grew from Rs 833 crore in FY22 to Rs 1,128 crore in FY26, which works out to a compound annual growth rate of 7.9%. In the June 2026 quarter, revenue grew 12.2% year on year to Rs 3,623 crore, while net profit rose 28.6% to Rs 405 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 54,785 crore. The stock trades at a P/E of 45.0, above the industry P/E of 42.6. Looking ahead, the company is expanding capacity and its dealer reach while adding home improvement and waterproofing products. Housing demand and repainting cycles support steady volumes.
How has Blue Star performed financially?
Ans. Revenue rose from Rs 6,100 crore in FY22 to Rs 12,464 crore in FY26, a compound annual growth rate of 19.6%. Net profit grew from Rs 168 crore in FY22 to Rs 527 crore in FY26, which works out to a compound annual growth rate of 33.1%. In the June 2026 quarter, revenue grew 13.4% year on year to Rs 3,399 crore. The company has a return on equity of 15.4%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 32,243 crore. The stock trades at a P/E of 63.3, above the industry P/E of 43.1. Looking ahead, the company benefits from rising air conditioner penetration, growth in commercial buildings and expansion of cold chain. A wide service network and trusted brand support market share.
How has Star Cement performed financially?
Ans. Revenue rose from Rs 2,255 crore in FY22 to Rs 3,796 crore in FY26, a compound annual growth rate of 13.9%. Net profit grew from Rs 247 crore in FY22 to Rs 390 crore in FY26, which works out to a compound annual growth rate of 12.2%. In the June 2026 quarter, revenue grew 4.1% year on year to Rs 951 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 6,481 crore. The stock trades at a P/E of 17.7, below the industry P/E of 29.6. Looking ahead, the company is expanding capacity and widening its reach in eastern India, while infrastructure and housing spending in the North East supports demand. Its strong regional position helps pricing.
What risks should investors check before buying paint, air conditioner and cement stocks?
Ans. Investors should check a few risks before buying paint, air conditioner and cement stocks. Housing cycles. Real estate and building demand can vary with rates and sentiment. Input costs. Metal and material prices can move margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of paint, air conditioner and cement stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 3 November 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
