Berger Paints' Share Price Soars Over 200% in 2026

Berger Paints Nigeria Plc experienced a remarkable 207.5% increase in its share price in 2026, closing at N147.60 on October 16, up from N48 at the start of the year. This surge turned a N100,000 investment into approximately N307,500, excluding dividends and trading costs.

The company's shares had previously traded at N6 at the end of 2022, climbing to N13 in 2023, N20 in 2024, and N48 by December 2025. The significant appreciation in share price was supported by a nearly 20% increase in revenue to N12.9 billion and a more than doubling of pre-tax profit to N2.4 billion in 2025.

Alaba Fagun, the Managing Director, attributed this growth to enhanced brand visibility, wider distribution, and improved product availability. Although profitability continued to improve in H1 2026, the share price has risen significantly, leading to a valuation of 24.7 times its earnings over the past 12 months.

To justify the current share price, Berger would need to achieve considerable earnings growth in the second half of 2026.