Organic Coatings Ltd

₹ 14.8 -1.99%

11 Jun 1:30 p.m.

About

Incorporated in 1965, Organic Coatings Ltd. is engaged in the business of manufacturing and trading in Printing Inks & Allied products.

Key Points

Product Profile:^[1]
a) Offset Inks:^[2] Rich Green Inks, Rich Gloss G 16 Inks, Monarch Inks, Dry Rich Inks, Polytuff Inks, Superstar Inks, Hexachrome Inks
b) Water based Flexo Inks:^[3] Products for diverse printing process and cured by UV radiation
c) Security Inks:^[4] Alkali Sensitive Ink, Magic Inks, Fugitive Inks, Invisible Inks, Penetrating Black Inks and Pen Reactive Ink
e) Specialty Inks:^[5] Cold Carbonizing Inks Red And Black, Carbonless Black Ink, Fluorescent Inks, Coin Reactive Ink and ARSR And LF Inks.

Website BSE

Market Cap ₹ 14.8 Cr.
Current Price ₹ 14.8
High / Low ₹ 36.4 / 11.4
Stock P/E
Book Value ₹ 3.30
Dividend Yield 0.00 %
ROCE -8.15 %
ROE -93.8 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is expected to give good quarter
Debtor days have improved from 82.2 to 61.1 days.

Cons

Stock is trading at 4.49 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -17.8%
The company has delivered a poor sales growth of 1.01% over past five years.
Promoter holding is low: 38.0%
Company has a low return on equity of -60.3% 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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	6.90	7.10	4.90	4.97	5.93	6.50	5.19	6.11	9.04	13.06	6.16	3.39	6.35
	6.49	6.60	4.95	4.68	5.31	6.09	4.85	5.79	8.27	12.27	6.32	3.79	6.72
Operating Profit	0.41	0.50	-0.05	0.29	0.62	0.41	0.34	0.32	0.77	0.79	-0.16	-0.40	-0.37
OPM %	5.94%	7.04%	-1.02%	5.84%	10.46%	6.31%	6.55%	5.24%	8.52%	6.05%	-2.60%	-11.80%	-5.83%
	0.03	0.08	0.05	0.02	0.02	0.00	0.01	0.04	0.01	0.02	0.01	0.02	0.00
Interest	0.35	0.35	0.37	0.39	0.38	0.41	0.34	0.36	0.34	0.33	0.33	0.30	0.20
Depreciation	0.26	0.26	0.26	0.25	0.22	0.25	0.23	0.23	0.22	0.23	0.22	0.21	0.21
Profit before tax	-0.17	-0.03	-0.63	-0.33	0.04	-0.25	-0.22	-0.23	0.22	0.25	-0.70	-0.89	-0.78
Tax %	17.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-0.20	-0.03	-0.63	-0.33	0.04	-0.25	-0.22	-0.23	0.22	0.26	-0.70	-0.89	-0.78
EPS in Rs	-0.26	-0.04	-0.82	-0.43	0.05	-0.33	-0.29	-0.30	0.29	0.34	-0.91	-0.89	-0.78
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	41.77	45.57	40.69	29.94	37.10	35.59	27.54	14.05	22.07	22.90	26.83	28.96
	43.38	44.77	39.35	27.65	35.20	34.40	25.99	13.56	21.61	21.54	24.99	29.09
Operating Profit	-1.61	0.80	1.34	2.29	1.90	1.19	1.55	0.49	0.46	1.36	1.84	-0.13
OPM %	-3.85%	1.76%	3.29%	7.65%	5.12%	3.34%	5.63%	3.49%	2.08%	5.94%	6.86%	-0.45%
	9.99	1.42	0.27	0.32	0.55	0.24	0.40	0.05	0.11	0.16	0.07	0.05
Interest	2.56	1.94	1.42	1.17	1.06	1.12	1.18	1.39	1.47	1.49	1.45	1.16
Depreciation	1.63	1.41	1.40	1.31	1.35	1.34	1.29	1.30	1.07	0.98	0.93	0.86
Profit before tax	4.19	-1.13	-1.21	0.13	0.04	-1.03	-0.52	-2.15	-1.97	-0.95	-0.47	-2.10
Tax %	0.00%	0.00%	0.00%	0.00%	25.00%	0.00%	0.00%	0.00%	1.52%	0.00%	0.00%	0.00%
	4.19	-1.12	-1.21	0.13	0.03	-1.03	-0.51	-2.15	-2.00	-0.95	-0.47	-2.10
EPS in Rs	5.46	-1.46	-1.58	0.17	0.04	-1.34	-0.66	-2.80	-2.61	-1.24	-0.61	-2.11
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-4%
5 Years:	1%
3 Years:	9%
TTM:	8%

Compounded Profit Growth
10 Years:	-17%
5 Years:	%
3 Years:	-2%
TTM:	-347%

Stock Price CAGR
10 Years:	5%
5 Years:	46%
3 Years:	24%
1 Year:	13%

Return on Equity
10 Years:	-20%
5 Years:	-51%
3 Years:	-60%
Last Year:	-94%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	9.97
Reserves	0.90	-0.21	-1.42	0.58	0.62	-0.43	-0.93	-3.06	-5.05	-5.99	-6.48	-6.68
	15.46	10.78	9.21	8.51	7.49	8.30	9.33	12.53	12.20	11.98	10.85	7.73
	10.99	18.06	13.03	11.89	13.42	15.62	5.78	5.21	7.55	6.06	7.07	6.75
Total Liabilities	35.02	36.30	28.49	28.65	29.20	31.16	21.85	22.35	22.37	19.72	19.11	17.77
	16.14	15.08	13.81	16.42	15.26	14.07	12.79	11.49	10.45	9.51	8.72	8.70
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	18.88	21.22	14.68	12.23	13.94	17.09	9.06	10.86	11.92	10.21	10.39	9.07
Total Assets	35.02	36.30	28.49	28.65	29.20	31.16	21.85	22.35	22.37	19.72	19.11	17.77

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-2.55	7.41	3.50	3.66	2.27	0.45	-0.75	-1.27	1.39	1.55	2.70	0.89
	14.08	-0.28	-0.12	-1.94	-0.09	-0.02	0.06	0.00	0.01	-0.02	-0.12	-0.81
	-11.57	-6.61	-3.37	-1.87	-2.07	-0.32	-0.14	1.86	-1.79	-1.72	-2.58	-0.03
Net Cash Flow	-0.04	0.51	0.01	-0.15	0.11	0.12	-0.84	0.58	-0.39	-0.18	-0.01	0.05

Ratios

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	97.96	94.27	61.36	65.71	66.51	86.46	54.60	142.10	115.11	98.66	86.79	61.13
Inventory Days	52.24	64.50	56.98	66.59	60.29	72.24	68.20	140.74	81.27	73.24	71.00	57.46
Days Payable	101.29	137.89	99.32	117.04	118.75	154.59	102.60	193.78	162.06	123.28	139.51	99.79
Cash Conversion Cycle	48.90	20.88	19.02	15.25	8.05	4.11	20.20	89.07	34.32	48.63	18.29	18.80
Working Capital Days	49.46	1.36	-19.11	28.89	13.48	20.20	15.24	108.33	46.64	46.38	28.84	27.60
ROCE %	32.91%	3.74%	1.48%	7.95%	6.76%	0.51%	4.18%	-4.58%	-3.13%	3.86%	7.63%	-8.15%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	38.00%
	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.50%
	43.51%	43.52%	43.51%	43.51%	43.51%	43.52%	43.52%	43.52%	43.52%	43.51%	43.51%	61.51%
No. of Shareholders	2,321	2,341	2,440	2,435	2,434	2,411	2,429	2,544	2,512	2,590	2,766	2,779

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	46.72%	49.95%	54.21%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	38.00%
	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.65%	0.65%	3.03%	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.50%
	52.54%	49.40%	42.76%	43.51%	43.51%	43.51%	43.51%	43.51%	43.52%	61.51%
No. of Shareholders	2,810	2,754	2,343	2,300	2,256	2,225	2,313	2,435	2,544	2,779

* 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.

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Organic Coatings Ltd

Organic Coatings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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