---
title: "Shalimar Paints Ltd (SHALPAINTS) — Share Price, Financials & Analysis"
symbol: "SHALPAINTS"
company: "Shalimar Paints Ltd"
canonical: "https://tapetide.com/stocks/SHALPAINTS"
isin: "INE849C01026"
nse_symbol: "SHALPAINTS"
bse_code: "509874"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
market_cap_cr: 711.63
generated_at: "2026-09-13T18:47:53.253Z"
---

# Shalimar Paints Ltd (SHALPAINTS)

Canonical page: https://tapetide.com/stocks/SHALPAINTS

## Company

- **NSE Symbol:** SHALPAINTS
- **BSE Code:** 509874
- **ISIN:** INE849C01026
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2008-03-03
- **CEO:** Mr. Sachin Naik
- **Employees:** 633
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** shalimarpaints.com

## About

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

## Latest Price

- **Price:** ₹85.73
- **Change:** +0.29 (+0.34%)
- **Open:** ₹85.5
- **Day High:** ₹86.45
- **Day Low:** ₹84.8
- **Previous Close:** ₹85.44
- **Volume:** 139971
- **As Of:** 2026-09-11T09:59:09+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:56.569816Z.

- **Market Cap:** ₹711.63 Cr
- **Classification:** Microcap
- **P/E (reported):** -10.3
- **EPS (TTM):** ₹-8.29
- **Book Value:** ₹17.02
- **Price to Book:** 5.02
- **Dividend Yield:** 0%
- **ROE:** -25.86%
- **ROCE:** -15.14%
- **Debt to Equity:** 0.66
- **Revenue (yearly):** ₹582.2 Cr
- **Net Income:** ₹-64.9 Cr
- **EBITDA:** ₹-15.9 Cr
- **52-Week High:** ₹95.95
- **52-Week Low:** ₹35.21
- **RSI (14):** 59.28

## Tapetide Score

- **Score:** 30 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 2 (of 4473 scored stocks)
- **Confidence:** 91%
- **Data coverage:** 81%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 19.18 | 9% |
| growth | 11.68 | 9% |
| momentum | 96.29 | 12% |
| ownership | 46.83 | 24% |
| quality | 28.86 | 22% |
| valuation | 33.28 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 2.86 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.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 139.81% | 32.07% | 137.78% |
| ebitda margin growth | -476.67% | -65.22% | -67.81% | -44.51% |
| net income growth | -187.84% | -20.07% | -31% | -5% |
| revenue growth | -11.61% | -4.49% | 6% | 12% |
| roce | 650% | -17.49% | 5.73% | -12.39% |
| roe | 187.69% | 0.12% | -23.49% | 50.35% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 119 | 146 | 144 | 128 | 145 | 148 | 178 | 155 | 134 | 131 | 156 | 138 |
| Expenses | 139 | 153 | 167 | 150 | 158 | 164 | 185 | 162 | 140 | 142 | 154 | 150 |
| Operating Profit | -20 | -7 | -22 | -21 | -13 | -16 | -7 | -8 | -6 | -11 | 2 | -12 |
| OPM % | -17 | -4.8 | -16 | -16 | -9 | -11 | -4.1 | -4.9 | -4.7 | -8 | 1.3 | -9 |
| Other Income | 2 | 2 | 3 | 1 | 1 | 1 | 7 | 2 | 3 | -4 | 1 | 1 |
| Interest | 4 | 2 | 2 | 3 | 4 | 5 | 5 | 6 | 6 | 7 | 6 | 5 |
| Depreciation | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 |
| Profit before tax | -26 | -12 | -26 | -27 | -20 | -25 | -10 | -17 | -14 | -27 | -8 | -21 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6 | 0 |
| Net Profit | -26 | -12 | -26 | -27 | -20 | -25 | -10 | -17 | -14 | -27 | -7 | -21 |
| EPS in Rs | -3.55 | -1.38 | -3.16 | -3.23 | -2.34 | -2.93 | -1.14 | -2 | -1.69 | -3.18 | -0.88 | -2.54 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 271 | 288 | 344 | 326 | 358 | 484 | 535 | 600 | 576 | 559 |
| Expenses | 305 | 349 | 377 | 322 | 381 | 499 | 589 | 657 | 598 | 586 |
| Operating Profit | -34 | -61 | -34 | 4 | -22 | -15 | -54 | -58 | -22 | -27 |
| OPM % | -13 | -21 | -10 | 1.1 | -6 | -3 | -10 | -10 | -3.9 | -4.8 |
| Other Income | 1 | -14 | 8 | 5 | -3 | 7 | 8 | 10 | 2 | 1 |
| Interest | 26 | 25 | 20 | 19 | 22 | 16 | 13 | 18 | 25 | 24 |
| Depreciation | 8 | 9 | 11 | 13 | 13 | 13 | 15 | 16 | 20 | 20 |
| Profit before tax | -67 | -109 | -56 | -24 | -61 | -36 | -74 | -81 | -65 | -70 |
| Tax % | -32 | -25 | -32 | 110 | -1 | 0 | 0 | 0 | -1 | — |
| Net Profit | -46 | -82 | -38 | -50 | -60 | -36 | -74 | -81 | -65 | -69 |
| EPS in Rs | -8.1 | -15.25 | -7.03 | -9.18 | -8.36 | -5.01 | -8.82 | -9.7 | -7.76 | -8.29 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4 | 4 | 11 | 11 | 11 | 14 | 14 | 17 | 17 | 17 |
| Reserves | 180 | 134 | 295 | 262 | 212 | 336 | 338 | 376 | 298 | 234 |
| Borrowings | 171 | 179 | 154 | 121 | 131 | 168 | 140 | 106 | 164 | 165 |
| Other Liabilities | 180 | 177 | 135 | 142 | 152 | 128 | 134 | 170 | 224 | 225 |
| Total Liabilities | 535 | 494 | 594 | 536 | 506 | 647 | 627 | 670 | 702 | 641 |
| Fixed Assets | 222 | 250 | 246 | 295 | 283 | 276 | 272 | 275 | 303 | 300 |
| CWIP | 14 | 1 | 24 | 0 | 0 | 0 | 2 | 35 | 27 | 0 |
| Investments | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 296 | 244 | 325 | 241 | 222 | 371 | 353 | 360 | 372 | 341 |
| Total Assets | 535 | 494 | 594 | 536 | 506 | 647 | 627 | 670 | 702 | 641 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 34 | 36 | -94 | -9 | 16 | -62 | -48 | 18 | -59 | 23 |
| Cash from Investing Activity | -16 | -11 | -34 | -28 | -5 | -6 | -84 | -51 | -16 | -1 |
| Cash from Financing Activity | -19 | -18 | 198 | -46 | -11 | 225 | -7 | 44 | 29 | -25 |
| Net Cash Flow | -1 | 7 | 70 | -83 | 0 | 157 | -139 | 11 | -46 | -2 |
| Free Cash Flow | 24 | 22 | -127 | -42 | 14 | -65 | -59 | -38 | -84 | 13 |
| CFO/OP | 241 | -104 | 153 | 28 | 443 | 275 | 322 | -32 | 101 | -101 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 130 | 142 | 126 | 76 | 89 | 80 | 81 | 76 | 90 | 88 |
| Inventory Days | 139 | 129 | 118 | 136 | 146 | 130 | 120 | 110 | 112 | 96 |
| Days Payable | 193 | 244 | 162 | 151 | 183 | 133 | 102 | 134 | 161 | 166 |
| Cash Conversion Cycle | 75 | 28 | 82 | 61 | 52 | 77 | 98 | 52 | 41 | 18 |
| Working Capital Days | -25 | -138 | -80 | -51 | -66 | -1 | 58 | 30 | -28 | -75 |
| ROCE % | 3 | -12 | -18 | -10 | -1 | -7 | -4 | -13 | -13 | -8 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 39.92% | 31.9% | 75.73% | 75.73% | 75.73% | 75.73% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% |
| FIIs | 0.03% | 0% | 0.08% | 0.02% | 0% | 0% | 0.01% | 0% | 0.01% | 0.04% | 0.08% | 0.04% |
| DIIs | 2.04% | 0.06% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 17.29% | 15.63% | 18.2% | 18.31% | 20.36% | 20.38% | 20.59% | 21.5% | 21.63% | 21.2% | 20.93% | 21.04% |
| Others | 40.72% | 52.41% | 5.97% | 5.91% | 3.88% | 3.86% | 4.41% | 3.51% | 3.36% | 3.77% | 4% | 3.92% |
| No. of Shareholders | 21556 | 23240 | 24333 | 26503 | 30009 | 31100 | 29913 | 31086 | 32659 | 32408 | 31826 | 31768 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 3 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 82.8 | Buy |
| EMA (10) | 83.66 | Buy |
| SMA (20) | 82.99 | Buy |
| EMA (20) | 82.26 | Buy |
| SMA (50) | 73.82 | Buy |
| EMA (50) | 75.38 | Buy |
| SMA (100) | 62.72 | Buy |
| EMA (100) | 68.41 | Buy |
| SMA (200) | 60.37 | Buy |
| EMA (200) | 67.75 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 59.71 | Neutral |
| MACD (12,26,9) | 2.4 | Sell |
| Stochastic (14,3,3) | 82.45 | Sell |
| ADX (14) | 25.87 | Buy |
| Williams %R (14) | -10.49 | Sell |
| ATR (14) | 3.94 | High Volatility |
| ROC (12) | 5.13 | Buy |
| Stoch RSI (14) | 98 | Sell |
| UO (7,14,28) | 60.31 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 5 Mar - Whole-time Director Venugopal Chetlur resigned effective March 4, 2026; will continue as COO overseeing operations. | [Announcement under Regulation 30 (LODR)-Resignation of Director 5 Mar - Whole-time Director Venugopal Chetlur resigned effective March 4, 2026; will continue as COO overseeing operations.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a3cacd88-8552-448d-8184-5a96578f4a7d.pdf) |
| 5 Mar - Venugopal Chetlur resigned as Whole-time Director effective March 4, 2026; will continue as COO. | [Announcement under Regulation 30 (LODR)-Change in Management 5 Mar - Venugopal Chetlur resigned as Whole-time Director effective March 4, 2026; will continue as COO.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8945e558-17ba-4c1a-bbcd-b79e315de558.pdf) |
| 5 Mar - Mr. Venugopal Chetlur resigned as Whole-time Director effective March 4, 2026; will continue as COO. | [Announcement under Regulation 30 (LODR)-Change in Directorate 5 Mar - Mr. Venugopal Chetlur resigned as Whole-time Director effective March 4, 2026; will continue as COO.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cf72f020-b0ba-40be-82f5-1f274cd1cb18.pdf) |
| 4 Apr - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 4 Apr - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1453e646-e3cc-476b-bd0c-70360bb94d16.pdf) |
| 30 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited FY2026 results for period ending Mar 31, 2026. | [Closure of Trading Window 30 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited FY2026 results for period ending Mar 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e3ad5248-1df6-4025-860c-f699b90a223f.pdf) |
| 20 Feb - OPJ Trading sold 500 Shalimar Paints shares (0.00%) in open market on February 17, 2026; promoter holding now nil. | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 20 Feb - OPJ Trading sold 500 Shalimar Paints shares (0.00%) in open market on February 17, 2026; promoter holding now nil.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8A67A0EE_0F20_4BE2_8E13_F37A59CB5A20_103715.pdf) |
| 20 Feb - Gagan Infraenergy sold 500 Shalimar Paints shares on Feb 17, 2026, reducing its holding to zero. | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 20 Feb - Gagan Infraenergy sold 500 Shalimar Paints shares on Feb 17, 2026, reducing its holding to zero.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/C59CCB7F_AA0B_403A_AEC2_53E9EDE8CB4D_103615.pdf) |
| 15 Apr - Extracts of the newspaper publication titled "Notice with respect to Special Window for re-lodgment of transfer requests of physical shares", published in the newspapers on … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Apr - Extracts of the newspaper publication titled "Notice with respect to Special Window for re-lodgment of transfer requests of physical shares", published in the newspapers on …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0d43a75b-b2af-4729-ad49-1faad9ce5332.pdf) |
| 11h - Shalimar Paints reappoints Atul Desai for three years and appoints Abhijeet Jhawar as additional director. | [Announcement under Regulation 30 (LODR)-Change in Directorate 11h - Shalimar Paints reappoints Atul Desai for three years and appoints Abhijeet Jhawar as additional director.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fde1f9ec-4bf8-4517-a947-13548f6d6486.pdf) |
| 11h - Atul Desai reappointed independent director for 3 years; Abhijeet Jhawar appointed additional director effective May 12, 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 11h - Atul Desai reappointed independent director for 3 years; Abhijeet Jhawar appointed additional director effective May 12, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/af16742f-efb5-49b9-990d-1db8d5c7832b.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e779ddd-684a-45f8-943b-4938f3977bc5.pdf) |
| 2026-09-09 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2b43417a-7b72-442e-8d98-5ac19baf8f9c.pdf) |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Meeting Updates](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6516ab67-c3dc-4b05-a730-2f45e4443835.pdf) |
| 2026-09-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1277bf7b-5b7e-4e16-b1f8-e4a07ee4d9e0.pdf) |
| 2026-09-03 | [Corrigendum To The Notice Of The Extra Ordinary General Meeting No. 01/2026-2027 Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=867c2d41-66b0-47fa-b790-241eda5521bb.pdf) |
| 2026-08-20 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=35d17115-c0af-4758-ab1a-fb99381e5885.pdf) |
| 2026-08-19 | [Revised Outcome Of Board Meeting Held On August 12 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cdd43fd5-1476-4685-a2c1-81b01ca0b8a7.pdf) |
| 2026-08-19 | [EGM No. 01/2027-2027 Of The Company To Be Held On September 11 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=277216bd-dab2-4d2e-aec3-1baf22094ac7.pdf) |
| 2026-08-19 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f3232bef-4e85-473c-85ce-e166d6a76d9d.pdf) |
| 2026-08-18 | [124Th Annual General Meeting To Be Held On Wednesday September 09 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5d87d9bc-f89a-42d0-87c3-16ae23194e2f.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-12 | [Financial Results For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f7fc1bf7-363b-4845-a08b-692011ca2257.pdf) |
| 2026-05-28 | [Financial Results For The Quarter And Year Ended On March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8978fc59-6736-4526-a0c2-cd85acb47762.pdf) |
| 2026-02-12 | [Financial Results For The Quarter And Nine Months Ended December 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d55ee268-d389-47ab-aaee-6cbe9adb82b3.pdf) |
| 2025-11-12 | [Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1606e797-292a-41b2-9bfc-fe5100298cd3.pdf) |
| 2025-08-11 | [Unaudited Financial Results For The Quarter Ended June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7dcef033-4216-4989-a224-93c5f2adbd5a.pdf) |
| 2025-05-26 | [Financial Results For The Quarter And Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d2dac48b-d7a2-446c-a08a-0f9e848f28e8.pdf) |
| 2025-02-10 | [Unaudited Financial Results (Standalone And Consolidated) For The Quarter Ended December 31 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=87de8c66-6eaa-4b89-8951-3fbde3db3424.pdf) |
| 2024-11-12 | [Outcome Of Board Meeting Under Regulations 30 And 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8324e7e1-ac6e-4c9b-9c74-a275dabf0f92.pdf) |
| 2024-08-08 | [Outcome Of Board Meeting Under Regulations 30 And 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=eeab3e05-08d2-4b22-8877-f385115e237f.pdf) |
| 2024-05-17 | [Board Meeting Outcome for Outcome Of Board Meeting Under Regulations 30 And 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c0c27e5-f417-449e-8462-dde2dfcd7c78.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_SHALPAINTS_2010_2011_22072011120506.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/779466de-f3e0-4ca6-896c-9c8c92e3d12c.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3036a28d-c890-42c5-911f-8f3ea0878f47.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/42eb62d1-45ae-4c75-bc2d-7f214f867c15.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/76842509874.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/71576509874_07_09_21.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/66011509874.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/5098740319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/5098740318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/509874/5098740317.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2023-08-24 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=430a7f3d-3dba-4ef9-9e97-371801449dce.pdf) |
| 2023-06-06 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0915f2bc-b06b-4d95-af1f-60af126518b3.pdf) |
| 2023-02-22 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f7c9a184-7fd3-4f1f-a0ad-80c89f07a9d2.pdf) |
| 2022-11-23 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e67cdfbf-9670-4ff6-bd48-7d38a82edcc9.pdf) |
| 2022-08-23 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=34f0a383-e06a-4e63-93a4-d45a912db484.pdf) |
| 2022-06-07 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c9d9db69-100f-4a5c-a851-6977d37db047.pdf) |

### Earnings Call Recordings

| Date | Document |
| --- | --- |
| 2023-08-18 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8fba9497-80b0-4d93-8ae3-7bb2ebcae679.pdf) |
| 2023-05-31 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=24598676-f0c8-443a-842e-aad3ec5b8583.pdf) |
| 2023-02-17 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=58b44db4-d448-4cdb-9d66-173ec087f0fb.pdf) |
| 2022-11-17 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=68da39b5-9a51-4805-95e4-568c9d119249.pdf) |
| 2022-06-01 | [Audio Recording For Call With Investors And Analysts Held On May 31, 2022 At 04:00 P.M.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=451179af-0670-412e-b763-611eeecc53e4.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2023-08-17 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1fde1053-ea68-46b5-886b-ea974557bfcb.pdf) |
| 2023-05-30 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8702506d-9588-4759-a4fa-342573b0f24d.pdf) |
| 2023-02-16 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=193834d2-d34c-40aa-9d84-2a48e34266e6.pdf) |
| 2023-02-16 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b1478757-e643-4d1a-8cc9-b04b912ca2ac.pdf) |
| 2022-11-15 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7090fc88-c7b2-48bf-b461-59c21575bd78.pdf) |
| 2022-08-16 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=63c5600f-7b17-4c0e-a487-2b7b9fb04197.pdf) |
| 2022-05-31 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c40929ac-5ab4-4e19-80c7-f7e05ea47f93.pdf) |
| 2022-02-17 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d8296997-de3c-4798-9921-c29ef84ac051.pdf) |
| 2021-11-16 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5b42383f-9377-48dc-ab03-8d38340d06de.pdf) |
| 2021-08-16 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2a8ee62d-3cdf-40a7-bc00-0f99ff0bbb18.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c9ca19f-8431-4782-9657-0017768d3a93.pdf) |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c9ca19f-8431-4782-9657-0017768d3a93.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e67cdfbf-9670-4ff6-bd48-7d38a82edcc9.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5b42383f-9377-48dc-ab03-8d38340d06de.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=10f0f459-8890-452c-abbf-72c6fec51051.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/10f0f459-8890-452c-abbf-72c6fec51051.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5a8b6218-771d-4c94-95f0-7d636f0dc9c8.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=85629fc9-0281-4a05-ab28-3a2543ffcc60.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5a8b6218-771d-4c94-95f0-7d636f0dc9c8.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/85629fc9-0281-4a05-ab28-3a2543ffcc60.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:47:53.253Z.