True Colors Ltd
Incorporated in October 2021, True Colors Limited imports and distributes digital textile printers and supplies products for the digital textile printing industry.[1]
- Market Cap ₹ 606 Cr.
- Current Price ₹ 246
- High / Low ₹ 272 / 174
- Stock P/E 16.7
- Book Value ₹ 80.0
- Dividend Yield 0.00 %
- ROCE 43.8 %
- ROE 70.5 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 75.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -26.0%
- Debtor days have increased from 67.1 to 88.4 days.
* 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
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 9 | 81 | 160 | 234 | 292 | |
| 8 | 75 | 146 | 192 | 236 | |
| Operating Profit | 1 | 6 | 14 | 41 | 56 |
| OPM % | 8% | 7% | 9% | 18% | 19% |
| 0 | 0 | 1 | 0 | 1 | |
| Interest | 0 | 0 | 2 | 5 | 5 |
| Depreciation | 0 | 0 | 1 | 3 | 4 |
| Profit before tax | 1 | 5 | 11 | 33 | 48 |
| Tax % | 27% | 28% | 28% | 25% | |
| 0 | 4 | 8 | 25 | 36 | |
| EPS in Rs | 32.67 | 261.33 | 550.00 | 13.03 | 17.40 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 196% |
| TTM: | 46% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 269% |
| TTM: | 199% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 75% |
| Last Year: | 70% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.47 | 0.47 | 19 | 25 |
| Reserves | 0 | 6 | 14 | 36 | 173 |
| 0 | 20 | 57 | 48 | 73 | |
| 10 | 19 | 35 | 52 | 66 | |
| Total Liabilities | 11 | 46 | 106 | 155 | 336 |
| 0 | 0 | 40 | 47 | 51 | |
| CWIP | 0 | 1 | 0 | 1 | 16 |
| Investments | 0 | 0 | 0 | 0 | 2 |
| 11 | 44 | 66 | 107 | 268 | |
| Total Assets | 11 | 46 | 106 | 155 | 336 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 0 | -20 | 9 | 6 | |
| 0 | -1 | -34 | -8 | |
| 0 | 22 | 29 | 3 | |
| Net Cash Flow | 1 | -0 | 4 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 260 | 60 | 52 | 88 |
| Inventory Days | 44 | 65 | 88 | 96 |
| Days Payable | 373 | 58 | 82 | 100 |
| Cash Conversion Cycle | -68 | 67 | 58 | 85 |
| Working Capital Days | 1 | 23 | -25 | 37 |
| ROCE % | 43% | 28% | 44% |
Documents
Announcements
-
Board Meeting Outcome for Announcement Under Regulation 30 (LODR)-Scheme Of Arrangement
1 Dec - Board approved amalgamation of Inkia Inks into True Colors; swap 83 True Colors shares for 100 Inkia shares; subject to approvals.
-
Announcement Under Regulation 30 Of SEBI (LODR)- Intimation Regarding Participation In The ''Ashika Manufacturing Conference 2025''.
24 Nov - Participating in Ashika Manufacturing Conference 2025 in Mumbai on 27 November 2025 (physical).
-
Announcement Under Regulation 30 Of SEBI (LODR)- Intimation Regarding Participation In The 'Ashika Manufacturing Conference 2025'
24 Nov - Company to participate in Ashika Manufacturing Conference 2025 in Mumbai on 27 November 2025.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
21 Nov - Sold India’s first Konica Minolta SP-1; installation by March 2026; 70,000m/day throughput.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
21 Nov - True Colors to install India’s first Konica Minolta SP-1 (70,000 m/day); installation by March 2026.
Concalls
-
Nov 2025Transcript PPT
Business Profile[1]
True Colors is engaged in the import & distribution of digital textile printers and inks, manufacturing of sublimation paper, and digital textile printing (job-work & printed fabric supply). It operates a vertically integrated model covering machinery, consumables, and printing services, providing a one-stop solution for textile manufacturers, export houses, fabric dealers, and fashion brands.