Ultramarine & Pigments Ltd

₹ 451 -0.14%

26 Nov 2:19 p.m.

About

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. The Company caters to both domestic and international markets.

Key Points

FY23 Revenue breakup^[1]
Pigments division - 32% (vs 26% in FY22)
Surfactants division - 59% (vs 66% in FY22)
IT Division - 9% (vs 8% in FY22)
Co. is a leading supplier of surfactants to South India-based FMCG players. It also manufactures detergent under the brand name OOB^[2]^[3]

Website BSE

Market Cap ₹ 1,317 Cr.
Current Price ₹ 451
High / Low ₹ 614 / 399
Stock P/E 16.6
Book Value ₹ 364
Dividend Yield 1.34 %
ROCE 10.4 %
ROE 7.99 %
Face Value ₹ 2.00

Add ratio to table

Edit ratios

Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 23.3%

Cons

Company has a low return on equity of 7.89% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Dyes And Pigments

Part of BSE SmallCap BSE Allcap BSE Commodities

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	152	150	125	131	146	148	136	161	161	179	195	184	196
	126	117	105	104	122	125	116	134	134	142	166	153	164
Operating Profit	26	32	20	27	24	23	20	26	27	36	28	32	32
OPM %	17%	22%	16%	21%	17%	16%	15%	16%	17%	20%	15%	17%	16%
	7	-1	2	2	5	2	2	3	4	2	3	3	2
Interest	1	1	2	2	2	2	2	2	2	2	2	2	2
Depreciation	4	4	5	5	5	6	6	6	6	6	7	6	7
Profit before tax	28	26	15	22	22	17	14	22	24	30	23	27	26
Tax %	21%	24%	25%	25%	21%	25%	24%	25%	23%	25%	26%	24%	25%
	22	19	11	17	17	13	11	17	19	23	17	20	19
EPS in Rs	7.46	6.64	3.75	5.66	5.91	4.43	3.72	5.66	6.38	7.83	5.83	6.91	6.63
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	306	308	490	557	561	695	754
	230	232	406	455	466	576	626
Operating Profit	77	76	84	102	95	119	128
OPM %	25%	25%	17%	18%	17%	17%	17%
	11	9	9	11	10	12	10
Interest	2	2	4	5	7	7	7
Depreciation	9	9	12	17	22	24	26
Profit before tax	78	75	78	91	76	100	106
Tax %	20%	26%	25%	24%	24%	25%
	62	56	58	69	58	75	79
EPS in Rs	21.24	19.11	19.97	23.70	19.73	25.70	27.20
Dividend Payout %	24%	26%	25%	21%	25%	23%

Compounded Sales Growth
10 Years:	%
5 Years:	18%
3 Years:	12%
TTM:	25%

Compounded Profit Growth
10 Years:	%
5 Years:	4%
3 Years:	9%
TTM:	35%

Stock Price CAGR
10 Years:	15%
5 Years:	15%
3 Years:	10%
1 Year:	-10%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	8%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	6	6	6	6	6	6	6
Reserves	297	455	854	730	894	967	1,057
	29	38	53	75	79	94	89
	50	61	82	70	97	106	138
Total Liabilities	381	561	995	881	1,076	1,173	1,290
	91	119	152	238	281	334	345
CWIP	35	30	69	29	30	26	39
Investments	105	194	551	366	492	513	577
	149	218	222	248	274	299	329
Total Assets	381	561	995	881	1,076	1,173	1,290

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	48	58	29	62	78	90
	-39	-20	-63	-55	-51	-42
	-16	13	-7	-2	-18	-33
Net Cash Flow	-7	51	-40	5	10	15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	47	52	29	29	38	42
Inventory Days	93	93	93	113	109	83
Days Payable	80	91	52	53	69	49
Cash Conversion Cycle	59	54	71	89	79	76
Working Capital Days	85	92	82	79	79	61
ROCE %		18%	11%	11%	9%	10%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	42.66%	42.37%	42.37%	41.68%	41.07%	41.04%	41.04%	40.86%	40.86%	40.62%	40.50%	40.50%
	0.67%	0.80%	0.80%	0.80%	0.84%	1.21%	1.28%	1.22%	1.22%	1.15%	1.12%	1.05%
	0.14%	0.82%	0.82%	0.82%	0.82%	0.24%	0.32%	0.32%	0.63%	0.95%	1.26%	1.33%
	56.51%	55.99%	55.99%	56.69%	57.25%	57.51%	57.34%	57.61%	57.28%	57.28%	57.12%	57.11%
No. of Shareholders	22,986	23,035	22,999	22,946	22,352	21,539	19,933	19,228	18,931	18,721	18,804	19,762

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	52.56%	53.26%	53.73%	52.85%	48.63%	44.07%	42.37%	41.04%	40.62%	40.50%
	0.11%	0.23%	0.49%	0.98%	0.78%	0.54%	0.80%	1.21%	1.15%	1.05%
	0.15%	0.39%	0.39%	0.39%	0.13%	0.14%	0.82%	0.24%	0.95%	1.33%
	47.18%	46.12%	45.39%	45.78%	50.46%	55.26%	55.99%	57.51%	57.28%	57.11%
No. of Shareholders	8,494	9,613	10,344	9,901	15,562	21,443	23,035	21,539	18,721	19,762

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Ultramarine & Pigments Ltd

Ultramarine & Pigments Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings