Organic Coatings Ltd

₹ 20.5 4.96%

05 Oct - close price

About

Incorporated in 1965, Organic Coatings Ltd is mainly dealing with Inks and its auxiliaries.^[1]

Key Points

Business Overview:^[1]^[2]
OCL is engaged in the business of manufacturing and trading In Printing Inks
& allied products. The company sells its products across India and to other countries including North and South America, the CIS region, the Middle East, and Africa.

Website BSE

Market Cap ₹ 20.5 Cr.
Current Price ₹ 20.5
High / Low ₹ 30.4 / 13.8
Stock P/E
Book Value ₹ 0.02
Dividend Yield 0.00 %
ROCE -24.1 %
ROE -197 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter

Cons

Stock is trading at 1,023 times its book value
Company has low interest coverage ratio.
Promoter holding is low: 6.06%
Company has a low return on equity of -109% over last 3 years.
Company might be capitalizing the interest cost
Debtor days have increased from 84.2 to 105 days.
Promoter holding has decreased over last 3 years: -49.8%

* 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

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	6.50	5.19	6.11	9.04	13.06	6.16	3.39	6.35	7.07	5.53	5.87	9.62	11.22
	6.09	4.85	5.79	8.27	12.27	6.32	3.79	6.72	7.53	5.75	6.46	10.10	11.18
Operating Profit	0.41	0.34	0.32	0.77	0.79	-0.16	-0.40	-0.37	-0.46	-0.22	-0.59	-0.48	0.04
OPM %	6.31%	6.55%	5.24%	8.52%	6.05%	-2.60%	-11.80%	-5.83%	-6.51%	-3.98%	-10.05%	-4.99%	0.36%
	0.00	0.01	0.04	0.01	0.02	0.01	0.02	0.00	0.02	0.03	0.03	0.03	0.01
Interest	0.41	0.34	0.36	0.34	0.33	0.33	0.30	0.20	0.20	0.18	0.17	0.16	0.18
Depreciation	0.25	0.23	0.23	0.22	0.23	0.22	0.21	0.21	0.21	0.23	0.23	0.24	0.23
Profit before tax	-0.25	-0.22	-0.23	0.22	0.25	-0.70	-0.89	-0.78	-0.85	-0.60	-0.96	-0.85	-0.36
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-0.25	-0.22	-0.23	0.22	0.26	-0.70	-0.89	-0.78	-0.85	-0.60	-0.96	-0.85	-0.36
EPS in Rs	-0.33	-0.29	-0.30	0.29	0.34	-0.91	-0.89	-0.78	-0.85	-0.60	-0.96	-0.85	-0.36
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	45.57	40.69	29.94	37.10	35.59	27.54	14.05	22.07	22.90	26.83	28.96	28.09	32.24
	44.77	39.35	27.65	35.20	34.40	25.99	13.56	21.61	21.54	24.99	29.09	29.84	33.49
Operating Profit	0.80	1.34	2.29	1.90	1.19	1.55	0.49	0.46	1.36	1.84	-0.13	-1.75	-1.25
OPM %	1.76%	3.29%	7.65%	5.12%	3.34%	5.63%	3.49%	2.08%	5.94%	6.86%	-0.45%	-6.23%	-3.88%
	1.42	0.27	0.32	0.55	0.24	0.40	0.05	0.11	0.16	0.07	0.05	0.11	0.10
Interest	1.94	1.42	1.17	1.06	1.12	1.18	1.39	1.47	1.49	1.45	1.16	0.71	0.69
Depreciation	1.41	1.40	1.31	1.35	1.34	1.29	1.30	1.07	0.98	0.93	0.86	0.91	0.93
Profit before tax	-1.13	-1.21	0.13	0.04	-1.03	-0.52	-2.15	-1.97	-0.95	-0.47	-2.10	-3.26	-2.77
Tax %	0.00%	0.00%	0.00%	25.00%	0.00%	0.00%	0.00%	1.52%	0.00%	0.00%	0.00%	0.00%
	-1.12	-1.21	0.13	0.03	-1.03	-0.51	-2.15	-2.00	-0.95	-0.47	-2.10	-3.26	-2.77
EPS in Rs	-1.46	-1.58	0.17	0.04	-1.34	-0.66	-2.80	-2.61	-1.24	-0.61	-2.11	-3.27	-2.77
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:	15%
3 Years:	7%
TTM:	40%

Compounded Profit Growth
10 Years:	%
5 Years:	-14%
3 Years:	%
TTM:	14%

Stock Price CAGR
10 Years:	9%
5 Years:	30%
3 Years:	35%
1 Year:	17%

Return on Equity
10 Years:	-26%
5 Years:	-79%
3 Years:	-109%
Last Year:	-197%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	7.67	9.97	9.97
Reserves	-0.21	-1.42	0.58	0.62	-0.43	-0.93	-3.06	-5.05	-5.99	-6.48	-6.68	-9.95
	10.78	9.21	8.51	7.49	8.30	9.33	12.53	12.20	11.98	10.85	7.73	10.16
	18.06	13.03	11.89	13.42	15.62	5.78	5.21	7.55	6.06	7.07	6.75	14.10
Total Liabilities	36.30	28.49	28.65	29.20	31.16	21.85	22.35	22.37	19.72	19.11	17.77	24.28
	15.08	13.81	16.42	15.26	14.07	12.79	11.49	10.45	9.51	8.72	8.70	9.07
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
	21.22	14.68	12.23	13.94	17.09	9.06	10.86	11.92	10.21	10.39	9.07	15.21
Total Assets	36.30	28.49	28.65	29.20	31.16	21.85	22.35	22.37	19.72	19.11	17.77	24.28

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7.41	3.50	3.66	2.27	0.45	-0.75	-1.27	1.39	1.55	2.70	0.89	0.44
	-0.28	-0.12	-1.94	-0.09	-0.02	0.06	0.00	0.01	-0.02	-0.12	-0.81	-1.25
	-6.61	-3.37	-1.87	-2.07	-0.32	-0.14	1.86	-1.79	-1.72	-2.58	-0.03	1.72
Net Cash Flow	0.51	0.01	-0.15	0.11	0.12	-0.84	0.58	-0.39	-0.18	-0.01	0.05	0.91
Free Cash Flow	7.09	3.34	1.62	2.09	0.31	-0.75	-1.27	1.35	1.51	2.56	0.04	-0.84
CFO/OP	926%	261%	160%	119%	38%	-48%	-259%	302%	114%	147%	-685%	-25%

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	94.27	61.36	65.71	66.51	86.46	54.60	142.10	115.11	98.66	86.79	61.13	104.60
Inventory Days	64.50	56.98	66.59	60.29	72.24	68.20	140.74	81.27	73.24	71.00	62.98	105.38
Days Payable	137.89	99.32	117.04	118.75	154.59	102.60	193.78	162.06	123.28	139.51	109.37	235.78
Cash Conversion Cycle	20.88	19.02	15.25	8.05	4.11	20.20	89.07	34.32	48.63	18.29	14.73	-25.80
Working Capital Days	-28.43	-53.37	-59.25	-27.45	-17.33	-28.23	0.00	-22.16	-19.92	-27.48	-14.12	-78.22
ROCE %	3.74%	1.48%	7.95%	6.76%	0.51%	4.18%	-4.58%	-3.13%	3.86%	7.63%	-8.15%	-24.06%

Insights

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Permanent Employees
count

Printing Ink Share of Manufactured Goods Sales
%

Installed Capacity (Printing Ink)
metric tons per month

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	38.00%	29.73%	22.54%	6.06%	6.06%	6.06%
	0.65%	0.65%	0.65%	0.65%	0.65%	0.65%	0.50%	0.50%	0.50%	0.50%	0.50%	0.50%
	43.52%	43.52%	43.52%	43.52%	43.51%	43.51%	61.51%	69.78%	76.96%	93.44%	93.45%	93.44%
No. of Shareholders	2,411	2,429	2,544	2,512	2,590	2,766	2,779	2,788	2,794	2,761	2,736	2,733

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	46.72%	49.95%	54.21%	55.83%	55.83%	55.83%	55.83%	55.83%	55.83%	38.00%	6.06%	6.06%
	0.09%	0.00%	0.00%	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%	0.50%	0.50%
	52.54%	49.40%	42.76%	43.51%	43.51%	43.51%	43.51%	43.51%	43.52%	61.51%	93.45%	93.44%
No. of Shareholders	2,810	2,754	2,343	2,300	2,256	2,225	2,313	2,435	2,544	2,779	2,736	2,733

* 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

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