Shalimar Paints Ltd
Incorporated in 1902, Shalimar Paints Ltd manufactures, sells and distributes paints, coatings and providing related services[1]
- Market Cap ₹ 531 Cr.
- Current Price ₹ 63.4
- High / Low ₹ 141 / 54.1
- Stock P/E
- Book Value ₹ 34.0
- Dividend Yield 0.00 %
- ROCE -12.8 %
- ROE -22.6 %
- Face Value ₹ 2.00
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -17.8% over last 3 years.
- Promoters have pledged 70.5% of their holding.
* 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
Consumer Discretionary Consumer Durables Consumer Durables Paints
Part of BSE Allcap BSE Consumer Discretionary
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 465 | 416 | 384 | 350 | 271 | 288 | 344 | 326 | 358 | 484 | 535 | 599 | 614 | |
| 450 | 407 | 354 | 335 | 305 | 349 | 377 | 322 | 381 | 499 | 589 | 656 | 651 | |
| Operating Profit | 15 | 9 | 30 | 14 | -34 | -61 | -34 | 4 | -22 | -15 | -54 | -57 | -37 |
| OPM % | 3% | 2% | 8% | 4% | -13% | -21% | -10% | 1% | -6% | -3% | -10% | -9% | -6% |
| 6 | 2 | 1 | 1 | 1 | -14 | 8 | 5 | -3 | 7 | 8 | 10 | 12 | |
| Interest | 21 | 21 | 22 | 23 | 26 | 25 | 20 | 19 | 22 | 16 | 13 | 18 | 23 |
| Depreciation | 4 | 5 | 5 | 8 | 8 | 9 | 11 | 13 | 13 | 13 | 15 | 16 | 17 |
| Profit before tax | -4 | -15 | 4 | -15 | -67 | -109 | -56 | -24 | -61 | -36 | -74 | -80 | -64 |
| Tax % | -22% | -29% | -23% | -36% | -32% | -25% | -32% | 110% | -1% | 0% | 0% | 0% | |
| -3 | -11 | 5 | -10 | -46 | -82 | -38 | -50 | -60 | -36 | -74 | -80 | -64 | |
| EPS in Rs | -0.50 | -1.87 | 0.93 | -1.72 | -8.10 | -15.25 | -7.03 | -9.18 | -8.36 | -5.01 | -8.82 | -9.58 | -7.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 12% |
| 3 Years: | 19% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -27% |
| 3 Years: | -21% |
| TTM: | 24% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | -10% |
| 3 Years: | -23% |
| 1 Year: | -54% |
| Return on Equity | |
|---|---|
| 10 Years: | -18% |
| 5 Years: | -18% |
| 3 Years: | -18% |
| Last Year: | -23% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 11 | 11 | 11 | 14 | 14 | 17 | 17 | 17 |
| Reserves | 70 | 58 | 62 | 180 | 134 | 295 | 262 | 212 | 336 | 338 | 376 | 298 | 268 |
| 110 | 130 | 137 | 171 | 179 | 154 | 121 | 131 | 168 | 140 | 106 | 164 | 190 | |
| 198 | 191 | 188 | 180 | 177 | 135 | 142 | 152 | 128 | 134 | 170 | 223 | 214 | |
| Total Liabilities | 381 | 382 | 391 | 535 | 494 | 594 | 536 | 506 | 647 | 627 | 670 | 702 | 688 |
| 37 | 76 | 75 | 222 | 250 | 246 | 295 | 283 | 276 | 272 | 275 | 303 | 278 | |
| CWIP | 18 | 1 | 6 | 14 | 1 | 24 | 0 | 0 | 0 | 2 | 35 | 27 | 29 |
| Investments | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 327 | 305 | 311 | 296 | 244 | 325 | 241 | 222 | 371 | 353 | 360 | 372 | 381 | |
| Total Assets | 381 | 382 | 391 | 535 | 494 | 594 | 536 | 506 | 647 | 627 | 670 | 702 | 688 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 38 | 38 | 34 | 36 | -94 | -9 | 16 | -62 | -48 | 18 | -59 | |
| -6 | -26 | -7 | -16 | -11 | -34 | -28 | -5 | -6 | -84 | -51 | -14 | |
| -15 | -16 | -23 | -19 | -18 | 198 | -46 | -11 | 225 | -7 | 44 | 27 | |
| Net Cash Flow | -11 | -3 | 8 | -1 | 7 | 70 | -83 | -0 | 157 | -139 | 11 | -46 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 125 | 135 | 136 | 130 | 142 | 126 | 76 | 89 | 80 | 81 | 76 | 90 |
| Inventory Days | 126 | 126 | 154 | 139 | 129 | 118 | 136 | 146 | 130 | 120 | 110 | 112 |
| Days Payable | 168 | 187 | 218 | 193 | 244 | 162 | 151 | 183 | 133 | 102 | 134 | 161 |
| Cash Conversion Cycle | 83 | 73 | 72 | 75 | 28 | 82 | 61 | 52 | 77 | 98 | 52 | 41 |
| Working Capital Days | 28 | 4 | 8 | -25 | -138 | -80 | -51 | -66 | -1 | 58 | 30 | -27 |
| ROCE % | 7% | 2% | 13% | 3% | -12% | -18% | -10% | -1% | -7% | -4% | -13% | -13% |
Documents
Announcements
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Intimation Under Regulation 31A Of The SEBI LODR 2015 - Submission Of Application To Stock Exchanges Upon Receipt Of Request For Re-Classification From "Promoter/Promoter Group" To "Public" Category
17 Jan - On Jan 17, 2026 Shalimar Paints applied to exchanges to reclassify listed promoters to public; one holds 60 shares (0.0001%).
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Intimation Of Outcome Of Board Meeting W.R.T. Request For Re-Classification From ''Promoter And Promoter Group'' Category To ''Public'' Category Pursuant To Regulation 31A Of The SEBI LODR 2015
13 Jan - Board approved reclassification of eight promoter-group members to public; regulatory applications pending (Jan 13, 2026).
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Board Meeting Outcome for Outcome Of Board Meeting Held On Tuesday, January 13, 2026
13 Jan - Board approved reclassification of eight promoter-group members to public, subject to regulatory approvals; only 60 shares affected.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Jan - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended December 31, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Jan - Copy of Newspaper publications regarding completion of dispatch of Postal Ballot Notice.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jun 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Sep 2020TranscriptAI SummaryPPT
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May 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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May 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
Holdings:[1]
SPL is a part of Ratan Jindal faction of O.P. Jindal group and S. S. Jhunjhunwala group. Both promoter groups hold 39.92% of the shares. Further, Hella Infra Market Private Limited holds 24.89% shares