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 ₹ 374 Cr.
- Current Price ₹ 152
- High / Low ₹ 272 / 125
- Stock P/E 12.0
- 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| 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
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
14 Jul - Pursuant to Regulation 30 and other applicable provisions of the SEBI (LODR) Regulations, 2015, we wish to inform you that the representatives ....
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Jul - Submitted Regulation 74(5) certificate for quarter ended June 30, 2026; no rematerialisation requests.
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015- Participation At Future Print, In Brazil By Inkia Inks Private Limited, Transferor Entity Under Scheme Of Amalgamation.
3 Jul - Inkia Inks will participate at FuturePrint Brazil from July 14-17, 2026, showcasing digital printing formulations.
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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.
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.