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 ₹ 455 Cr.
- Current Price ₹ 184
- High / Low ₹ 272 / 125
- Stock P/E 12.5
- 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
- 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 |
| Free Cash Flow | 0 | -22 | -24 | -3 |
| CFO/OP | 69% | -351% | 89% | 30% |
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% |
Insights
In beta| Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|
| Machine Sales Volume Units |
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| Cotton Printing Installed Capacity Meters |
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| Digital Printing Capacity Utilization % |
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| Polyester Printing Installed Capacity Meters |
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| Sublimation Paper Capacity Utilization % |
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| Sublimation Paper Installed Capacity (Monthly) Meters |
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| Active Machine Base for Recurring Revenue Units |
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| Energy Self-Generation Ratio % |
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| Estimated Digital Printing Market Penetration in India Meters (Crore) |
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| Solar Power Generation Units/Day |
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| Total Installed Base of Machines Units |
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Extracted by Screener AI
Documents
Announcements
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015- Intimation Regarding Participation At FESPA Global Print Expo 2026, In Barcelona By Inkia Inks Private Limited, Group Company.
1h - Inkia Inks will participate in FESPA Global Print Expo 2026 in Barcelona from 19-22 May, 2026.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Apr - Certificate under Regulation 74 (5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026 received from Bigshare Services Private Limited, …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
10 Apr - Copy of Newspaper advertisement published for Notice of Postal Ballot.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 9 Apr
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Board Meeting Outcome for Outcome Of Board Meeting Of The Company Held On April 08, 2026.
8 Apr - Board approved object-clause change, borrowing powers and postal ballot on 8 Apr 2026.
Concalls
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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.