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Shalimar Paints Limited SHALPAINTS NSEINFRA

Basic Materials · Specialty Chemicals · India
Financial distress score 51/100 (Weak) — see indicators →
https://www.shalimarpaints.com
Company Profile ↓
₹81.16
+10.63% 1Y
Mkt Cap₹679.40 Cr
P/E-9.79
P/B2.55
52W High₹91.45
52W Low₹36.08
Book Value₹29.91
EPS (TTM)₹-8.29

Company Overview

Shalimar Paints Limited engages in the manufacturing and marketing of paints and coatings in India, Nepal, the United Arab Emirates, Bhutan, Seychelles, and internationally. The company offers decorative paints; and industrial paints, including protective, can, and pipeline coatings. It also provides apply supply services; and services in heavy machinery, truck body, agricultural machinery, frp components, auto parts, metal door, construction equipment, industrial equipment, and others. In addition, the company offers interior, exterior, metal, wood, floor, waterproofing paint products; ancillary, such as magic brush, magic roller, magic dry sandpaper, magic wet and dry sandpaper, magic masking tape, and magic spray paint; and protective, packaging, and marine coatings. It offers its products under the Magic, Mela, Color Space, Hero, Zero Damp, Superlac, and Shalimar brand names. Shalimar Paints Limited was incorporated in 1902 and is based in Thane, India. Shalimar Paints Limited operates as a subsidiary of Hella Infra Market Limited.

Why Investors Should Care

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹575.63 Cr (-4.0% YoY); net profit ₹-64.95 Cr.
  • Trailing 12 Months Year-on-year growth — revenue -10.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 6.1%, profit CAGR -26.6%.

Growth & Price Performance

Compounded Sales Growth

5 Years:6.10%
1 Year:-10.30%

Compounded Profit Growth

5 Years:-26.56%
1 Year:-

Stock Price Performance

1 Year:+10.63%
6 Months:+53.51%
3 Months:+17.54%
1 Month:+0.32%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 81% of range
₹36.08 ₹91.45
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)53.56 · Neutral
Price Performance
1M+0.32%
3M+17.54%
6M+53.51%
1Y+10.63%

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Earnings shrank at -26.6% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
-9.79
Industry PE
21.09
Forward P/E
-
PEG Ratio
-
Book Value
₹29.91
Price to Book
2.55
P/S
1.14
EV/EBITDA
-29.31
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
6.10%
Profit 5Y
-26.56%
Revenue (YoY)
-10.30%
Earnings (YoY)
-

Profitability & Returns

ROCE
-15.14%
ROE
-25.86%
ROA
-10.14%
Profit Margin
-12.43%
Op Margin
-12.52%
Gross Margin
32.45%
EPS (Latest Qtr)
₹-0.88
EPS (TTM)
₹-8.29

Balance Sheet & Liquidity

Debt/Equity
0.66
Quick Ratio
0.61
Current Ratio
0.88
Debt
₹164.76 Cr
Total Assets
₹640.56 Cr
Current Assets
₹332.68 Cr
Working Capital
₹-43.29 Cr

Ownership

Promoter Holding
75.14%
Chg in Prom Hold
0.18%
FII / Inst Holding
0.00%
Chg in FII Hold
-0.11%

Financial Snapshot

Enterprise Value
₹679.40 Cr
Total Revenue (TTM)
₹558.79 Cr
EBITDA
₹-25.76 Cr
Free Cash Flow
₹13.17 Cr
Operating Cash Flow
₹23.35 Cr
Shares Outstanding
₹8.37 Cr
Gross Margin
32.45%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 SHALPAINTS Shalimar Paints Limited NSEINFRA 81.16 -9.79 ₹679.40 Cr 0.00% -15.14% -25.86% 6.10% -26.56%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 10,849.00 37.39 ₹3.19 L Cr 2.25% 11.84% 10.66% 11.92% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,222.90 12.07 ₹2.99 L Cr 0.58% 18.75% 22.30% 3.61% 75.28%
4 ASIANPAINT Asian Paints Limited NIFTY50NSEINFRA 2,319.40 46.14 ₹2.22 L Cr 1.19% 24.41% 20.24% 1.10% 1.75%
5 HINDZINC Hindustan Zinc Limited NSEINFRA 525.00 13.00 ₹2.22 L Cr 2.07% 61.97% 61.13% 5.61% 9.58%
6 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 172.45 19.49 ₹2.15 L Cr 2.33% 11.32% 10.56% -1.59% 7.21%
7 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 892.85 12.11 ₹1.98 L Cr 0.56% 9.42% 9.80% 7.10% 9.87%
8 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 2,889.10 34.46 ₹1.96 L Cr 0.35% 3.98% 4.80% 14.30% -10.06%
9 SOLARINDS Solar Industries India Limited NSEINFRA 19,259.00 87.52 ₹1.74 L Cr 0.06% 29.51% 26.72% 12.39% 30.36%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 135.36 Cr125.63 Cr119.14 Cr145.88 Cr144.26 Cr128.33 Cr--178.26 Cr153.46 Cr133.81 Cr131.33 Cr155.93 Cr
Cost of Revenue --------128.06 Cr106.03 Cr88.68 Cr89.97 Cr101.12 Cr
Gross Profit --------50.20 Cr47.43 Cr45.13 Cr41.36 Cr54.81 Cr
Operating Expenses 141.37 Cr130.26 Cr139.23 Cr152.84 Cr166.75 Cr149.51 Cr--62.05 Cr59.51 Cr56.09 Cr57.13 Cr57.87 Cr
Operating Income -9.19 Cr-7.91 Cr-23.56 Cr-10.65 Cr-26.89 Cr-25.02 Cr---11.85 Cr-12.08 Cr-10.96 Cr-15.77 Cr-3.06 Cr
EBITDA -6.01 Cr-4.63 Cr-20.09 Cr-6.96 Cr-22.49 Cr-21.18 Cr---1.02 Cr-5.98 Cr-2.95 Cr-14.42 Cr2.96 Cr
Interest Expense 3.87 Cr3.97 Cr4.33 Cr2.49 Cr2.17 Cr2.88 Cr--4.87 Cr6.15 Cr6.49 Cr7.05 Cr5.65 Cr
Pretax Income -9.62 Cr-10.27 Cr-25.62 Cr-11.54 Cr-26.42 Cr-27.04 Cr---9.96 Cr-16.67 Cr-14.14 Cr-26.65 Cr-7.83 Cr
Tax Provision -0-0-0-0-0-0--0000-44.00 L
Net Income -9.62 Cr-10.27 Cr-25.62 Cr-11.54 Cr-26.42 Cr-27.04 Cr---9.96 Cr-16.67 Cr-14.14 Cr-26.65 Cr-7.39 Cr
Diluted EPS -1.33-1.42-3.55-1.38-3.16-3.23---1.19-1.99-1.69-3.18-0.88

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 416.00 Cr384.00 Cr350.00 Cr271.00 Cr288.00 Cr344.00 Cr326.00 Cr-481.95 Cr530.58 Cr599.81 Cr575.63 Cr
Cost of Revenue --------358.81 Cr389.72 Cr436.37 Cr386.64 Cr
Gross Profit --------123.14 Cr140.86 Cr163.44 Cr188.99 Cr
Operating Expenses 407.00 Cr354.00 Cr335.00 Cr305.00 Cr349.00 Cr377.00 Cr322.00 Cr-150.59 Cr209.49 Cr236.90 Cr230.96 Cr
Operating Income 4.00 Cr25.00 Cr6.00 Cr-42.00 Cr-70.00 Cr-45.00 Cr-9.00 Cr--27.45 Cr-68.63 Cr-73.46 Cr-41.97 Cr
EBITDA 9.00 Cr30.00 Cr14.00 Cr-34.00 Cr-61.00 Cr-34.00 Cr4.00 Cr--10.78 Cr-48.73 Cr-47.84 Cr-20.48 Cr
Interest Expense 21.00 Cr22.00 Cr23.00 Cr26.00 Cr25.00 Cr20.00 Cr19.00 Cr-12.66 Cr10.28 Cr17.55 Cr25.34 Cr
Pretax Income -15.00 Cr4.00 Cr-15.00 Cr-67.00 Cr-109.00 Cr-56.00 Cr-24.00 Cr--36.15 Cr-73.85 Cr-81.17 Cr-65.39 Cr
Tax Provision 4.35 Cr-92.00 L5.40 Cr21.44 Cr27.25 Cr17.92 Cr-26.40 Cr-000-44.00 L
Net Income -11.00 Cr5.00 Cr-10.00 Cr-46.00 Cr-82.00 Cr-38.00 Cr-50.00 Cr--36.15 Cr-73.85 Cr-81.17 Cr-64.95 Cr
Diluted EPS -1.870.93-1.72-8.10-15.25-7.03-9.18-10.76-5.01-9.52-9.70-

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 382.00 Cr391.00 Cr535.00 Cr494.00 Cr594.00 Cr536.00 Cr506.00 Cr-623.67 Cr669.56 Cr702.28 Cr640.56 Cr
Current Assets --------344.22 Cr344.95 Cr355.29 Cr332.68 Cr
Cash & Equivalents --------21.21 Cr12.35 Cr7.06 Cr7.14 Cr
Inventory --------113.58 Cr116.48 Cr133.87 Cr102.14 Cr
Receivables --------107.52 Cr110.89 Cr147.87 Cr138.34 Cr
Total Liabilities --------271.12 Cr276.38 Cr387.30 Cr389.38 Cr
Current Liabilities --------247.55 Cr244.09 Cr354.91 Cr375.97 Cr
Long Term Debt --------14.62 Cr20.38 Cr17.49 Cr0
Total Debt 130.00 Cr137.00 Cr171.00 Cr179.00 Cr154.00 Cr121.00 Cr131.00 Cr-140.07 Cr105.88 Cr163.86 Cr164.76 Cr
Total Equity 62.00 Cr66.00 Cr184.00 Cr138.00 Cr306.00 Cr273.00 Cr223.00 Cr-352.55 Cr393.18 Cr314.98 Cr251.18 Cr
Shares Outstanding --------7.22 Cr8.37 Cr8.37 Cr8.37 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 38.00 Cr38.00 Cr34.00 Cr36.00 Cr-94.00 Cr-9.00 Cr16.00 Cr--47.93 Cr17.68 Cr-58.65 Cr23.35 Cr
Investing Cash Flow -26.00 Cr-7.00 Cr-16.00 Cr-11.00 Cr-34.00 Cr-28.00 Cr-5.00 Cr--83.78 Cr-51.35 Cr-15.65 Cr-52.00 L
Financing Cash Flow -16.00 Cr-23.00 Cr-19.00 Cr-18.00 Cr198.00 Cr-46.00 Cr-11.00 Cr--6.87 Cr44.24 Cr28.56 Cr-24.71 Cr
Capital Expenditure -27.00 Cr-9.00 Cr-10.00 Cr-14.00 Cr-33.00 Cr-33.00 Cr-2.00 Cr--11.20 Cr-57.21 Cr-33.44 Cr-10.18 Cr
Free Cash Flow 11.00 Cr29.00 Cr24.00 Cr22.00 Cr-127.00 Cr-42.00 Cr14.00 Cr--59.13 Cr-39.53 Cr-92.09 Cr13.17 Cr
Net Change in Cash -3.00 Cr8.00 Cr-1.00 Cr7.00 Cr70.00 Cr-83.00 Cr-0--138.58 Cr10.57 Cr-45.74 Cr-1.88 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------25.6%26.5%27.2%32.8%
Operating Margin % 1.0%6.5%1.7%-15.5%-24.3%-13.1%-2.8%--5.7%-12.9%-12.2%-7.3%
Net Margin % -2.6%1.3%-2.9%-17.0%-28.5%-11.0%-15.3%--7.5%-13.9%-13.5%-11.3%
ROE % -17.7%7.6%-5.4%-33.3%-26.8%-13.9%-22.4%--10.3%-18.8%-25.8%-25.9%
ROCE % ---------7.3%-16.1%-21.1%-15.9%

Shareholding Pattern

Insiders
75.14%
Institutions
0.00%
Public Float
0.01%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for SHALPAINTS

Google News hu, 01 Jan 2026

Investors in Shalimar Paints (NSE:SHALPAINTS) from three years ago are still down 54%, even after 10% gain this past week - Simply Wall Street

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Google News Mon, 12 Oct 2026

Shalimar Paints Upper Circuit Today: Price, Data and Peers - Univest

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Google News Fri, 28 Jul 2017

SHALPAINTS Stock Price and Chart — NSE:SHALPAINTS - TradingView

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Google News Sun, 20 Sep 2026

Shalimar Paints (SHALPAINTS.NS) Rises 1.67% to ₹82.25, Holds Above Key Support - Volume Breakout Ideas - https://www.siam.in/

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Google News hu, 10 Sep 2026

Shalimar Paints AGM 2026 Voting Results NSE:SHALPAINTS - Kalkine India

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Google News Mon, 03 Aug 2026

Shalimar Paints Ltd. (SHALPAINTS) Share Price Rises 19.99% Today - Univest

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SHALPAINTS — Frequently Asked Questions

What is the current share price of Shalimar Paints Limited (SHALPAINTS)?

As of 2026-10-23 04:58 IST, Shalimar Paints Limited (SHALPAINTS) trades at ₹81.16 on NSE. Its 52-week range is ₹36.08 to ₹91.45.

What is the market capitalisation of SHALPAINTS?

Shalimar Paints Limited (SHALPAINTS) has a market capitalisation of ₹679.40 Cr on NSE.

What is the P/E ratio of SHALPAINTS?

SHALPAINTS trades at a trailing price-to-earnings (P/E) ratio of -9.79. The industry average P/E is 21.09. Its price-to-book (P/B) ratio is 2.55.

What is the return on equity (ROE) of SHALPAINTS?

SHALPAINTS has a return on equity (ROE) of -25.86%. Its return on capital employed (ROCE) is -15.14%.

Is SHALPAINTS a good stock to buy?

This page provides a data-driven analysis of Shalimar Paints Limited (SHALPAINTS), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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