Sirca Paints India Ltd

Sirca Paints Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sirca Paints India Ltd

₹ 319 -0.14%
26 Apr - close price
Company website BSE: 543686 NSE : SIRCA
About

Sirca Paints India Ltd is engaged in the business of manufacturing, selling and export of wood coatings and other decorative paints under the brand ‘Sirca’. [1]

Key Points

Products[1]
Range of Wall coating, Wood Coating, Metals, and Glass Coating products. Its offerings under various brands include:
Sirca: Luxury Italian Wood Coatings, High-end Wall Paints.
** Unico: Mass -market Wood Coating products.
Oikos: High-end Decorative, Solid Colour Finishes and Texture Coatings.
DuranteVivan: Adhesives Product Portfolio.
Co. is in the top 3 premium category wood coatings brand in India and Market leader in premium wood coatings in North India.[2] Sirca is the Exclusive licensee for product sales to Nepal, Bangladesh & Sri Lanka**.[3]

Website BSE NSE
  • Market Cap ₹ 1,746 Cr.
  • Current Price ₹ 319
  • High / Low ₹ 444 / 282
  • Stock P/E 36.1
  • Book Value ₹ 52.1
  • Dividend Yield 0.47 %
  • ROCE 25.3 %
  • ROE 18.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 18.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.8%
  • Debtor days have improved from 89.3 to 71.0 days.

Cons

  • Company has a low return on equity of 13.9% over last 3 years.

* 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

Sector: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
46 48 32 61 53 54 61 73 65 68 73 84 72
37 38 29 47 41 45 46 54 51 55 56 62 59
Operating Profit 9 9 3 13 12 9 15 19 14 13 17 21 14
OPM % 19% 20% 9% 22% 23% 17% 25% 26% 22% 19% 24% 25% 19%
1 12 1 1 1 1 1 2 1 1 1 1 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 9 21 3 14 12 9 15 20 14 13 18 21 14
Tax % 26% 26% 26% 26% 25% 32% 24% 26% 26% 27% 27% 26% 24%
6 15 2 10 9 6 12 14 11 9 13 16 11
EPS in Rs 1.16 2.78 0.40 1.85 1.67 1.13 2.13 2.63 1.92 1.73 2.35 2.83 1.92
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
22 29 65 71 83 89 116 134 141 196 264 297
20 27 60 61 62 63 84 103 128 158 202 232
Operating Profit 2 2 6 10 20 26 32 31 12 38 62 66
OPM % 8% 7% 9% 14% 25% 29% 27% 23% 9% 20% 23% 22%
0 0 4 2 2 4 6 6 14 4 5 5
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 1 0 1 1 2 4 4 4 6
Profit before tax 2 2 9 11 22 30 37 34 23 38 62 65
Tax % 36% 32% 35% 35% 36% 34% 30% 26% 27% 27% 26%
1 1 6 7 14 19 26 25 17 28 46 48
EPS in Rs 37.33 45.00 206.00 242.67 456.67 4.82 4.73 4.59 3.03 5.06 8.41 8.83
Dividend Payout % 0% 0% 0% 0% 0% 0% 7% 16% 25% 20% 9%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 25%
TTM: 17%
Compounded Profit Growth
10 Years: %
5 Years: 19%
3 Years: 23%
TTM: 13%
Stock Price CAGR
10 Years: %
5 Years: 36%
3 Years: 23%
1 Year: 5%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 14%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 0 0 0 13 18 27 27 27 27 55
Reserves 3 4 13 20 34 54 150 157 174 198 238 231
2 9 12 11 4 5 0 0 13 0 0 0
4 7 8 14 23 22 23 25 40 37 47 40
Total Liabilities 9 20 33 45 61 95 191 210 255 262 312 326
1 2 2 2 8 20 25 50 41 53 54 60
CWIP 0 0 0 0 0 0 9 0 2 1 5 0
Investments 0 2 2 3 2 0 0 0 0 0 0 0
8 15 29 40 51 75 157 160 212 208 252 266
Total Assets 9 20 33 45 61 95 191 210 255 262 312 326

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 0 5 11 -1 12 -8 19 35 -19
0 0 -1 -5 -13 -71 5 15 -11 9
0 0 -1 -7 16 68 -8 -0 -17 -6
Net Cash Flow 0 0 2 -2 1 9 -11 34 7 -15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 89 111 62 83 106 137 125 124 112 85 71
Inventory Days 26 45 76 120 144 265 282 217 248
Days Payable 22 44 70 56 92 105 151 98 90
Cash Conversion Cycle 89 111 67 84 112 201 177 285 242 204 229
Working Capital Days 62 91 44 58 64 145 157 223 235 159 209
ROCE % 21% 40% 63% 54% 31% 19% 11% 18% 25%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55% 67.55%
0.00% 0.00% 0.00% 0.00% 0.00% 5.80% 5.59% 5.55% 5.90% 5.94% 5.93% 5.48%
5.39% 4.46% 5.71% 5.57% 5.90% 3.81% 4.41% 3.88% 0.00% 0.00% 0.80% 0.75%
27.06% 27.99% 26.75% 26.88% 26.55% 22.85% 22.45% 23.03% 26.56% 26.51% 25.73% 26.22%
No. of Shareholders 7,6619,47211,75513,05412,36914,50917,83120,88235,58345,02551,91157,376

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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