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Shalimar Paints Ltd

₹ 69.4-0.42%
16 Jan – close price
🔗shalimarpaints.com•BSE: 509874•NSE: SHALPAINTS
Market Cap₹ 580 Cr.
Current Price₹ 69.4
High / Low₹ 144
Stock P/Enull
Book Value₹ 32.2
Dividend Yield0.00 %
ROCE-13.2 %
ROE-23.7 %
Face Value₹ 2.00
Sales₹ 612 Cr.
OPM-5.92 %
Mar Cap₹ 580 Cr.

ABOUT

Incorporated in 1902, Shalimar Paints Ltd manufactures, sells and distributes paints, coatings and providing related services[1]

KEY POINTS

Holdings:[1]SPL is a part of Ratan Jindal faction of O.P. Jindal group and S. S. Jhunjhunwala group. Both promoter groups hold39.92%of the shares. Further, Hella Infra Market Private Limited holds24.89%shares

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsCapacity Expansion And ProductsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Asian Paints2756.9065.77264305.050.901018.2320.458531.276.2825.7234378.1718.044018.77993.5913.5113.180.18
2.Berger Paints519.7554.8760653.070.73206.38-23.502827.491.9124.9011707.3415.211105.49206.299.6513.390.11
3.Kansai Nerolac231.4328.7418711.601.08133.319.891954.180.1413.037854.7511.70651.00134.932.897.570.04
4.Akzo Nobel3088.8036.0614078.943.241682.70-14.84834.90-15.0141.663902.6014.63390.4783.376.2414.760.03
5.Indigo Paints1236.4040.595895.360.2825.535.85298.503.4519.511288.0518.06145.2525.535.4211.150.02
6.Sirca Paints491.4048.102786.490.3118.1036.30131.1724.3819.98435.0419.4057.9318.106.3012.270.10
7.Shalimar Paints69.35–579.780.00-13.8729.23132.11-8.73-13.22611.55-5.92-64.02-13.872.15-12.000.70
–Median: 10 Co.361.4140.594340.920.5221.827.87215.313.519.75949.814.92101.5921.824.2911.710.11

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
111129135126119146144128145148178153132
Expenses
115130141130139153167150158163185161138
Operating Profit
-5-1-6-5-20-7-22-21-13-15-7-8-6
Other Income
1132223111723
Profit before tax
-11-6-10-10-26-12-26-27-20-24-10-17-14
Tax %
0%0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit
-11-6-10-10-26-12-26-27-20-24-10-17-14
EPS in Rs
-1.49-0.86-1.33-1.42-3.55-1.37-3.15-3.23-2.34-2.86-1.14-1.99-1.66

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
465416384350271288344326358484535599612
Expenses
450407354335305349377322381499589656648
Operating Profit
1593014-34-61-344-22-15-54-57-36
Other Income
62111-1485-2781012
Interest
21212223262520192216131823
Depreciation
45588911131313151617
Profit before tax
-4-154-15-67-109-56-23-61-36-74-80-64
Net Profit
-3-115-10-45-82-38-50-60-36-74-80-64
EPS in Rs
-0.50-1.870.94-1.71-8.08-15.21-6.98-9.12-8.30-5.00-8.81-9.57-7.65
Dividend Payout %
0%0%0%0%0%0%0%0%0%0%0%0%–

Compounded Sales Growth

10 Years:4%
5 Years:12%
3 Years:19%
TTM:9%

Compounded Profit Growth

10 Years:%
5 Years:-26%
3 Years:-22%
TTM:24%

Stock Price CAGR

10 Years:-2%
5 Years:-7%
3 Years:-21%
1 Year:-48%

Return on Equity

10 Years:-19%
5 Years:-19%
3 Years:-19%
Last Year:-24%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
444441111111414171717
Reserves
705862163117278246196320322361282253
Borrowings
110130137171179152122131168140106164190
Other Liabilities
198191188177177136141152126132168221209
Total Liabilities
381382391515477577520490628608651684668
Fixed Assets
317167194222218267256248245248276277
Gross Block
81.33126.48127.42201.98237.68242.40302.18304.13308.82318.01328.09370.62–
Accumulated Depreciation
49.9655.9459.977.5215.3223.9134.7548.0460.4773.0680.4994.47–
CWIP
1816141240002352729
Investments
1114111166999
Other Assets
331310317303253334251232374356360372353
Total Assets
381382391515477577520490628608651684668

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1038363436-94-1016-61-4818-59
Cash from Investing Activity
-6-26-5-16-10-33-28-5-6-84-51-14
Cash from Financing Activity
-15-16-23-19-18198-46-11225-74427
Net Cash Flow
-11-48-1770-83-0157-13911-46

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
125135136130142126768980817690
Inventory Days
126126154139129118136146130120110112
Days Payable
168187218193244162151183133102134161
Cash Conversion Cycle
837372752882615277985241
Working Capital Days
2849-25-138-80-50-66-15831-27
ROCE %
7%2%13%3%-13%-18%-10%-1%-7%-4%-13%-13%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
39.93%39.93%39.93%39.93%31.90%75.72%75.72%75.72%75.72%74.96%74.96%74.96%
FIIs
0.06%0.03%0.08%0.03%0.00%0.08%0.02%0.00%0.00%0.01%0.00%0.01%
DIIs
1.62%1.62%1.62%2.04%0.06%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public
58.39%58.42%58.36%58.00%68.04%24.15%24.22%24.23%24.23%25.00%25.01%24.99%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Shalimar Paints Announces Special Window for Physical Share Transfer Requests

15th April 2026, 9:05 pm

Shalimar Paints to Close Trading Window from April 1, 2026, Ahead of Financial Results

30th March 2026, 8:25 pm

Shalimar Paints Director Resigns, Continues as COO

5th March 2026, 6:27 pm

Shalimar Paints Director Resigns, Continues as COO

5th March 2026, 6:16 pm

Shalimar Paints: Opelina Sustainable Services Private Limited Disposes Minor Shareholding

20th February 2026, 4:05 pm

Published by Other Websites

External media mentions & references

Oil Falls $10, Sparking Market Rally; IndiGo, RIL Surge

15th April 2026, 1:08 pm

Paint Stocks Rally 5% on Oil Drop; Price Hikes Aim to Offset Losses

24th March 2026, 10:19 am

Crude Surge Triggers Market Sell-off; Aviation, Paint Stocks Plunge

19th March 2026, 11:11 am

West Asia Conflict Saps Rs 33.68 Lakh Crore From Indian Investor Wealth

13th March 2026, 7:59 pm

Indian Consumer Goods Face Cost Squeeze, Demand Recovery Tested

6th March 2026, 6:50 am

News Articles

Editorial & research coverage

Paint Sector Shake-Up! India's ₹70,000 Crore Battle Forces Companies to Rethink Strategy: What Investors Need to Know!
Paint Sector Shake-Up! India's ₹70,000 Crore Battle Forces Companies to Rethink Strategy: What Investors Need to Know!

27th November 2025, 3:48 pm

Documents

Announcements

Intimation Of Outcome Of Board Meeting W.R.T. Request For Re-Classification From ''Promoter And Promoter Group'' Category To ''Public'' Category Pursuant To Regulation 31A Of The SEBI LODR 2015

13 Jan - Board approved reclassification of eight promoter-group members to public; regulatory applications pending (Jan 13, 2026).

Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday, January 13, 2026

13 Jan - Board approved reclassification of eight promoter-group members to public, subject to regulatory approvals; only 60 shares affected.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

7 Jan - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended December 31, 2025.

Announcement under Regulation 30 (LODR)-Newspaper Publication

7 Jan - Copy of Newspaper publications regarding completion of dispatch of Postal Ballot Notice.

Shareholder Meeting / Postal Ballot-Notice of Postal Ballot

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

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Financial Year 2018

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Financial Year 2017

(from bse)

Financial Year 2016

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Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from nse)

Credit Ratings

Rating update

3 Jun 2025 from care

Rating update

27 Dec 2024 from care

Rating update

28 Nov 2024 from care

Rating update

22 Nov 2024 from smera

Rating update

26 Aug 2024 from smera

Rating update

7 Aug 2024 from smera

Concalls

Aug 2023

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Stock Analysis

Description

Shalimar Paints Limited, founded in 1902, manufactures and distributes paints and coatings, operating in decorative and industrial segments.

Key Growth Triggers

Currently no data available for Key Growth Triggers.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. The reclassification of promoters to public category is pending regulatory approval and could signal changes in ownership structure.
  2. Promoter group share encumbrance, as per company data, is a factor investors may monitor.

Key Dates To Watch

  1. Awaiting stock exchange approval for the promoter reclassification applications.

Corporate Announcements

15th Apr 26
Impact Rating: -
No description available.
30th Mar 26
Impact Rating: 7
Shalimar Paints will shut its trading window for designated persons starting April 1, 2026. It will reopen 48 hours after the Q4 and FY26 audited financial results are declared.
5th Mar 26
Impact Rating: 6
Shalimar Paints Limited informed the stock exchanges that Mr. Venugopal Chetlur has resigned as Whole-time Director effective March 4, 2026, due to personal reasons. He will continue to serve as Chief Operating Officer (COO).
5th Mar 26
Impact Rating: 6
Mr. Venugopal Chetlur has resigned as Whole-time Director of Shalimar Paints, with his resignation effective March 4, 2026, citing personal reasons. He will continue to serve the company as Chief Operating Officer.
20th Feb 26
Impact Rating: 6
This disclosure has been made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.