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 ₹ 380 Cr.
- Current Price ₹ 154
- High / Low ₹ 272 / 125
- Stock P/E 10.1
- Book Value ₹ 84.4
- Dividend Yield 0.00 %
- ROCE 25.7 %
- ROE 25.8 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.5%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 91.8 to 135 days.
- Working capital days have increased from 39.0 days to 105 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
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 9 | 81 | 160 | 233 | 301 | 333 | |
| 8 | 75 | 146 | 193 | 254 | 277 | |
| Operating Profit | 1 | 6 | 14 | 41 | 47 | 56 |
| OPM % | 8% | 7% | 9% | 18% | 16% | 17% |
| 0 | 0 | 1 | 0 | 1 | 0 | |
| Interest | 0 | 0 | 2 | 5 | 6 | 5 |
| Depreciation | 0 | 0 | 1 | 3 | 5 | 6 |
| Profit before tax | 1 | 5 | 11 | 32 | 37 | 45 |
| Tax % | 27% | 28% | 28% | 25% | 16% | |
| 0 | 4 | 8 | 24 | 31 | 38 | |
| EPS in Rs | 1.69 | 13.52 | 28.45 | 12.78 | 12.64 | 15.22 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 55% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 100% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -22% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 39% |
| Last Year: | 26% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.47 | 0.47 | 19 | 25 | 25 |
| Reserves | 0 | 6 | 14 | 37 | 162 | 184 |
| 0 | 20 | 57 | 48 | 46 | 54 | |
| 10 | 19 | 35 | 52 | 54 | 76 | |
| Total Liabilities | 11 | 46 | 106 | 155 | 287 | 339 |
| 0 | 0 | 40 | 47 | 80 | 97 | |
| CWIP | 0 | 1 | 0 | 1 | 2 | 14 |
| Investments | 0 | 0 | 0 | 0 | 27 | 4 |
| 11 | 44 | 66 | 107 | 178 | 224 | |
| Total Assets | 11 | 46 | 106 | 155 | 287 | 339 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | -20 | 9 | 9 | -35 | |
| 0 | -1 | -34 | -10 | -65 | |
| 0 | 22 | 29 | 3 | 94 | |
| Net Cash Flow | 1 | -0 | 4 | 2 | -6 |
| Free Cash Flow | 0 | -22 | -24 | -3 | -73 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 69% | -351% | 89% | 39% | -59% |
Ratios
Standalone / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 260 | 60 | 52 | 89 | 135 |
| Inventory Days | 44 | 65 | 88 | 96 | 84 |
| Days Payable | 373 | 58 | 82 | 100 | 86 |
| Cash Conversion Cycle | -68 | 67 | 58 | 85 | 133 |
| Working Capital Days | 1 | 23 | -25 | 37 | 105 |
| ROCE % | 43% | 28% | 44% | 26% |
Insights
In beta| Dec 2018 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| New Machine Installations Number |
|
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| Fabric Print Volume Lakh Metres |
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| Ink Volume Tonnes |
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| Sublimation Paper Capacity Utilization % |
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| Sublimation Paper Installed Capacity Crore Metres per Month |
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| Sublimation Paper Volume Crore Metres |
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| Recurring Revenue Ratio % |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Monitoring agency report for quarter ended September 30, 2026 shows no deviation in IPO proceeds use.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording link for investor conference call held on November 2, 2026 shared.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- True Colors reports H1 FY27 revenue 183.01 Cr, EBITDA 17.67%, PAT 21.09 Cr, up 21.1%.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation on the Financial Performance of the Company for the half year ended September 30, 2026
- Results- Financial Result For September 30, 2026
Concalls
-
Nov 2026PPT REC
-
May 2026Transcript PPT
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May 2026PPT
-
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.