Sirca Paints India Ltd
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]
- Market Cap ₹ 1,560 Cr.
- Current Price ₹ 285
- High / Low ₹ 444 / 284
- Stock P/E 32.2
- Book Value ₹ 52.1
- Dividend Yield 0.52 %
- ROCE 25.3 %
- ROE 18.8 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 17.8%
- Debtor days have improved from 89.2 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|
134 | 141 | 196 | 264 | 297 | |
103 | 128 | 158 | 202 | 232 | |
Operating Profit | 31 | 12 | 38 | 62 | 66 |
OPM % | 23% | 9% | 19% | 23% | 22% |
6 | 14 | 4 | 5 | 5 | |
Interest | 0 | 0 | 0 | 0 | 0 |
Depreciation | 2 | 4 | 4 | 4 | 6 |
Profit before tax | 34 | 23 | 38 | 62 | 65 |
Tax % | 26% | 27% | 27% | 26% | |
25 | 17 | 28 | 46 | 48 | |
EPS in Rs | 4.59 | 3.03 | 5.06 | 8.41 | 8.83 |
Dividend Payout % | 16% | 25% | 20% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 25% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 23% |
TTM: | 13% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 29% |
3 Years: | 22% |
1 Year: | -10% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 14% |
Last Year: | 19% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|
Equity Capital | 27 | 27 | 27 | 27 | 55 |
Reserves | 157 | 174 | 198 | 238 | 231 |
0 | 13 | 0 | 0 | 0 | |
25 | 40 | 37 | 47 | 40 | |
Total Liabilities | 210 | 255 | 262 | 312 | 326 |
50 | 41 | 53 | 54 | 60 | |
CWIP | 0 | 2 | 1 | 5 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 |
160 | 212 | 208 | 252 | 266 | |
Total Assets | 210 | 255 | 262 | 312 | 326 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|
-8 | 19 | 35 | -19 | |
5 | 15 | -11 | 9 | |
-8 | -0 | -17 | -6 | |
Net Cash Flow | -11 | 34 | 7 | -15 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|
Debtor Days | 124 | 112 | 85 | 71 |
Inventory Days | 265 | 282 | 217 | 248 |
Days Payable | 105 | 151 | 98 | 90 |
Cash Conversion Cycle | 285 | 242 | 204 | 229 |
Working Capital Days | 216 | 235 | 159 | 209 |
ROCE % | 11% | 18% | 25% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Feb - Newspaper Publications for the Financial Results of Quarter and nine months ended December 31, 2023
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Announcement under Regulation 30 (LODR)-Investor Presentation
5 Feb - Investor Presentation on the Unaudited Financial Results for the quarter and nine months ended December 31, 2023
- Board Meeting Outcome for Board Meeting Outcome For Outcome Of Board Meeting Held On February 05, 2024. 5 Feb
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
27 Jan - NEWSPAPER ADVERTISEMENT REGARDING NOTICE OF BOARD MEETING
- Board Meeting Intimation for Considering Financial Results For The Quarter And Nine Months Ending December 31, 2023. 26 Jan
Annual reports
Concalls
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Jan 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
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Jul 2022TranscriptNotesPPT
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May 2021TranscriptPPT
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Nov 2020TranscriptPPT
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]