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ICICI Securities Report
Indigo Paints Ltd. is the fifth largest decorative paint company in India.
It manufactures decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints.
The company has over the years introduced unique paints products which has helped it to expand its dealers reach into domestic markets which is otherwise dominated by top four players.
The premium product category contributes 28.6% in topline while rest comes from the other paint products categories.
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