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Shalimar Paints

SHALPAINTS NSE
₹78.28 No trade today
P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 4 Nov 2026 ₹78.28 +3.60 +4.82% 1Y
Start ₹74.68

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
−7.93%
Debt to Equity
0.66
EPS (TTM)
−₹8.29
Book Value
₹10.87
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
7.20
ROE
−21.40%
Dividend Yield
0.00%
EBITDA
−₹15.90 Cr
52W High
₹95.95
52W Low
₹35.21
Volume
0

Peer Comparison

Consumer Discretionary › Consumer Goods › Paints

Shalimar Paints peer comparison
Asian Paints
₹2,418.3047.93₹2,32,001 Cr10.670.24%21.80%26.30%₹38,632 Cr₹4,903 Cr
Berger Paints
₹485.1046.47₹55,927 Cr8.180.83%17.30%21.60%₹12,263 Cr₹1,217 Cr
Kansai Nerolac Paints
₹195.3226.32₹15,207 Cr2.351.34%8.82%12.00%₹8,263 Cr₹588 Cr
JSW Dulux
₹263.70—₹11,895 Cr4.9079.15%19.30%23.00%₹3,578 Cr₹1,963 Cr
Indigo Paints
₹859.8525.40₹4,116 Cr3.470.58%13.40%17.90%₹1,385 Cr₹161 Cr
Sirca Paints
₹408.6534.60₹2,345 Cr4.880.49%15.80%20.30%₹508 Cr₹67 Cr
Shalimar Paints (this company)
₹78.28—₹665 Cr7.200.00%−21.40%−7.93%₹559 Cr−₹69 Cr
Median 7 companies₹408.6534.60₹11,895 Cr4.900.58%15.80%20.30%₹3,578 Cr₹588 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

30 Poor

Data confidence 91/100

surveillance:ESM1pledge:71%

Category scores

Quality
28
Poor
Returns, margins, earnings quality 22% weight
Valuation
29
Poor
Cheap vs sector & own history 24% weight
Growth
12
Poor
Sales & profit trajectory 9% weight
Financial Health
18
Poor
Solvency, leverage, coverage 9% weight
Momentum
87
Strong
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

4
  • Stock is trading at 2.67 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -21.5% over last 3 years.
  • Promoters have pledged 70.5% of their holding.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
45.79
Neutral
MACD (12,26,9)
0.14
Bearish
SMA (50)
80.30
Bearish
SMA (200)
63.20
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+4.14%
5Y+12.06%
3Y+5.97%
1Y−4.00%
TTM−10.70%

Net profit

Net profit growth by window
10YTurned to loss
5YLoss widened by ₹15 Cr
3YLoss widened by ₹29 Cr
1YLoss narrowed by ₹16 Cr
TTMLoss narrowed by ₹3 Cr

Operating cash flow

Operating cash flow growth by window
10Y−4.90%
5Y+7.53%
3YTurned positive
1YTurned positive
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−11.63 pp
5Y−5.05 pp
3Y−0.72 pp
1Y+5.85 pp
TTM+2.20 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹350 Cr
Mar 2018₹271 Cr
Mar 2019₹288 Cr
Mar 2020₹344 Cr
Mar 2021₹326 Cr
Mar 2022₹358 Cr
Mar 2023₹484 Cr
Mar 2024₹535 Cr
Mar 2025₹600 Cr
Mar 2026₹576 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹10.00 Cr
Mar 2018−₹46.00 Cr
Mar 2019−₹82.00 Cr
Mar 2020−₹38.00 Cr
Mar 2021−₹50.00 Cr
Mar 2022−₹60.00 Cr
Mar 2023−₹36.00 Cr
Mar 2024−₹74.00 Cr
Mar 2025−₹81.00 Cr
Mar 2026−₹65.00 Cr

Quarterly Results

₹ Cr
SHALPAINTS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
126
119
146
144
128
145
148
178
155
134
131
156
138
116
Expenses
130
139
153
167
150
158
164
185
162
140
142
154
150
139
Operating Profit
−5
−20
−7
−22
−21
−13
−16
−7
−8
−6
−11
2
−12
−23
OPM %
−3.7%
−17%
−4.8%
−16%
−16%
−9%
−11%
−4.1%
−4.9%
−4.7%
−8%
1.3%
−9%
−20%
Other Income
2
2
2
3
1
1
1
7
2
3
−4
1
1
1
Interest
4
4
2
2
3
4
5
5
6
6
7
6
5
5
Depreciation
3
3
4
4
4
4
4
4
5
5
5
5
5
5
PBT
−10
−26
−12
−26
−27
−20
−25
−10
−17
−14
−27
−8
−21
−33
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
−6%
0%
0%
Net Profit
−10
−26
−12
−26
−27
−20
−25
−10
−17
−14
−27
−7
−21
−33
EPS (₹)
−1.42
−3.55
−1.38
−3.16
−3.23
−2.34
−2.93
−1.14
−2
−1.69
−3.18
−0.88
−2.54
—

Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
SHALPAINTS profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
416
384
350
271
288
344
326
358
484
535
600
576
559
Expenses
407
354
335
305
349
377
322
381
499
589
657
598
586
Operating Profit
9
30
14
−34
−61
−34
4
−22
−15
−54
−58
−22
−27
OPM %
2.1%
8%
4.1%
−13%
−21%
−10%
1.1%
−6%
−3%
−10%
−10%
−3.9%
−4.8%
Other Income
2
1
1
1
−14
8
5
−3
7
8
10
2
1
Interest
21
22
23
26
25
20
19
22
16
13
18
25
24
Depreciation
5
5
8
8
9
11
13
13
13
15
16
20
20
PBT
−15
4
−15
−67
−109
−56
−24
−61
−36
−74
−81
−65
−70
Tax %
−29%
−23%
−36%
−32%
−25%
−32%
110%
−1%
0%
0%
0%
−1%
—
Net Profit
−11
5
−10
−46
−82
−38
−50
−60
−36
−74
−81
−65
−69
EPS (₹)
−1.87
0.93
−1.72
−8.1
−15.25
−7.03
−9.18
−8.36
−5.01
−8.82
−9.7
−7.76
−8.29
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
SHALPAINTS balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
4
4
4
4
11
11
11
14
14
17
17
17
Reserves
58
62
180
134
295
262
212
336
338
376
298
234
Borrowings
130
137
171
179
154
121
131
168
140
106
164
165
Other Liabilities
191
188
180
177
135
142
152
128
134
170
224
225
Total Liabilities
382
391
535
494
594
536
506
647
627
670
702
641
Fixed Assets
76
75
222
250
246
295
283
276
272
275
303
300
CWIP
1
6
14
1
24
0
0
0
2
35
27
0
Investments
0
0
3
0
0
0
0
0
0
0
0
0
Other Assets
305
311
296
244
325
241
222
371
353
360
372
341
Total Assets
382
391
535
494
594
536
506
647
627
670
702
641

Cash Flow

₹ Cr
SHALPAINTS cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
38
38
34
36
−94
−9
16
−62
−48
18
−59
23
Investing
−26
−7
−16
−11
−34
−28
−5
−6
−84
−51
−16
−1
Financing
−16
−23
−19
−18
198
−46
−11
225
−7
44
29
−25
Net Cash Flow
−3
8
−1
7
70
−83
0
157
−139
11
−46
−2
Free Cash Flow
11
29
24
22
−127
−42
14
−65
−59
−38
−84
13
CFO/EBITDA
430
125
241
−104
153
28
443
275
322
−32
101
−101

Ratios

SHALPAINTS financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
135
136
130
142
126
76
89
80
81
76
90
88
Inventory Days
126
154
139
129
118
136
146
130
120
110
112
96
Days Payable
187
218
193
244
162
151
183
133
102
134
161
166
Cash Conversion Cycle
73
72
75
28
82
61
52
77
98
52
41
18
Working Capital Days
4
8
−25
−138
−80
−51
−66
−1
58
30
−28
−75
ROCE %
2%
13%
3%
−12%
−18%
−10%
−1%
−7%
−4%
−13%
−13%
−8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Shalimar Paints insights

69 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.96%
  • Public 20.15%
  • Others 4.85%
  • DIIs 0.03%
  • FIIs 0.01%

70.51% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Shalimar Paints

What does Shalimar Paints Ltd do?
Incorporated in 1902, Shalimar Paints Ltd manufactures, sells and distributes paints, coatings and providing related services
Where is Shalimar Paints Ltd (SHALPAINTS) listed?
Shalimar Paints Ltd trades as SHALPAINTS on the NSE and under code 509874 on the BSE.
Which sector does Shalimar Paints Ltd belong to?
Shalimar Paints Ltd is classified under the Consumer Goods sector, in the Paints industry.
What is the 52-week high and low of Shalimar Paints Ltd?
Over the last 52 weeks Shalimar Paints Ltd has traded between ₹35.21 and ₹95.95 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Shalimar Paints Ltd?
Shalimar Paints Ltd reported a return on equity of -21.40%. Its debt-to-equity ratio is 0.66.

Company Information

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

Website shalimarpaints.com
CEO Mr. Sachin Naik
Employees 633
Listed 3 Mar 2008
Face Value ₹2

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