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 ₹ 350 Cr.
- Current Price ₹ 142
- High / Low ₹ 272 / 125
- Stock P/E 11.2
- Book Value ₹ 75.9
- Dividend Yield 0.00 %
- ROCE 25.2 %
- ROE 25.7 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.4%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 91.8 to 134 days.
- Working capital days have increased from 40.2 days to 108 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 | Mar 2026 | |
|---|---|---|---|---|---|
| 9 | 81 | 160 | 234 | 302 | |
| 8 | 75 | 146 | 192 | 255 | |
| Operating Profit | 1 | 6 | 14 | 41 | 47 |
| OPM % | 8% | 7% | 9% | 18% | 15% |
| 0 | 0 | 1 | 0 | 0 | |
| Interest | 0 | 0 | 2 | 5 | 5 |
| Depreciation | 0 | 0 | 1 | 3 | 5 |
| Profit before tax | 1 | 5 | 11 | 33 | 37 |
| Tax % | 27% | 28% | 28% | 25% | 16% |
| 0 | 4 | 8 | 25 | 31 | |
| EPS in Rs | 32.67 | 261.33 | 550.00 | 13.03 | 12.64 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 55% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 100% |
| TTM: | 26% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 38% |
| Last Year: | 26% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.47 | 0.47 | 19 | 25 |
| Reserves | 0 | 6 | 14 | 36 | 162 |
| 0 | 20 | 57 | 48 | 46 | |
| 10 | 19 | 35 | 52 | 54 | |
| Total Liabilities | 11 | 46 | 106 | 155 | 287 |
| 0 | 0 | 40 | 47 | 80 | |
| CWIP | 0 | 1 | 0 | 1 | 2 |
| Investments | 0 | 0 | 0 | 0 | 27 |
| 11 | 44 | 66 | 107 | 178 | |
| Total Assets | 11 | 46 | 106 | 155 | 287 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | -20 | 9 | 6 | -35 | |
| 0 | -1 | -34 | -8 | -65 | |
| 0 | 22 | 29 | 3 | 94 | |
| Net Cash Flow | 1 | -0 | 4 | 0 | -6 |
| Free Cash Flow | 0 | -22 | -24 | -3 | -73 |
| CFO/OP | 69% | -351% | 89% | 30% | -59% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 260 | 60 | 52 | 88 | 134 |
| 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 | 108 |
| ROCE % | 43% | 28% | 44% | 25% |
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 (LODR)-Earnings Call Transcript
26 May - Transcript of Earnings Conference Call held on Friday, May 22, 2026 to discuss the audited standalone financial result for the half year and year ended …
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Compliances-Reg.24(A)-Annual Secretarial Compliance
25 May - True Colors says Annual Secretarial Compliance Report is not applicable for FY2026 due to SME listing.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 May - Audio recording link shared for investor conference call held on May 22, 2026.
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Announcement under Regulation 30 (LODR)-Investor Presentation
21 May - Investor Presentation on the Financial Performance of the Company for the half year and year ended March 31, 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
21 May - True Colors reported FY26 revenue of 302 Cr and PAT of 31 Cr, with H2 revenue at 150 Cr.
Concalls
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May 2026Transcript PPT
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May 2026TranscriptAI SummaryPPT
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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.