Ultramarine & Pigments Ltd

₹ 399 0.74%

04 Jun - close price

ultramarinepigments.net BSE: 506685 NSE: ULTRAMAR

About

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. The Company caters to both domestic and international markets.

Key Points

Product Portfolio
1. Pigments:^[1] Company manufactures a variety of inorganic pigments such as ultramarine blues (Pigment Blue 29), ultramarine violets (Pigment Violet 15), bismuth vanadate (Pigment Yellow 184), and various mixed metal oxides.

Website BSE NSE

Market Cap ₹ 1,163 Cr.
Current Price ₹ 399
High / Low ₹ 614 / 365
Stock P/E 16.5
Book Value ₹ 291
Dividend Yield 1.50 %
ROCE 10.0 %
ROE 7.78 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 25.5%

Cons

Company has a low return on equity of 7.30% 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

Commodities Chemicals Chemicals & Petrochemicals Dyes And Pigments

Part of BSE Commodities

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	119	123	137	140	126	152	154	164	182	169	181	178	180
	102	100	117	120	109	128	130	134	158	144	155	151	159
Operating Profit	16	23	20	20	16	23	24	29	24	25	26	27	21
OPM %	14%	19%	15%	14%	13%	15%	16%	18%	13%	15%	14%	15%	12%
	2	2	5	2	2	3	5	2	2	3	5	8	1
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	4	4	4	4	4	4	4	4	4	4	5	5	5
Profit before tax	13	21	20	17	13	21	24	27	22	22	26	29	16
Tax %	26%	26%	22%	26%	24%	25%	23%	26%	27%	25%	23%	21%	24%
	10	15	16	12	10	16	18	20	16	17	20	23	12
EPS in Rs	3.30	5.29	5.42	4.22	3.50	5.43	6.23	6.76	5.43	5.70	6.85	7.99	4.24
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	172	220	255	277	307	306	308	491	541	526	651	707
	143	183	205	217	236	230	232	407	448	445	549	609
Operating Profit	29	38	50	61	71	77	76	84	93	80	102	98
OPM %	17%	17%	20%	22%	23%	25%	25%	17%	17%	15%	16%	14%
	2	5	3	9	16	11	9	9	12	11	12	17
Interest	0	0	1	1	1	2	2	4	4	4	4	2
Depreciation	3	3	4	5	6	9	9	12	14	16	17	19
Profit before tax	28	39	48	63	80	78	75	78	88	71	93	94
Tax %	32%	30%	33%	31%	30%	20%	26%	25%	24%	24%	25%	23%
	19	27	32	44	56	62	56	58	66	54	70	72
EPS in Rs	6.42	9.37	11.12	14.95	19.34	21.24	19.11	19.98	22.76	18.43	23.86	24.77
Dividend Payout %	47%	37%	36%	28%	23%	24%	26%	25%	22%	27%	25%	24%

Compounded Sales Growth
10 Years:	12%
5 Years:	18%
3 Years:	9%
TTM:	9%

Compounded Profit Growth
10 Years:	10%
5 Years:	5%
3 Years:	2%
TTM:	2%

Stock Price CAGR
10 Years:	12%
5 Years:	4%
3 Years:	7%
1 Year:	-24%

Return on Equity
10 Years:	9%
5 Years:	8%
3 Years:	7%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	94	109	308	505	379	297	455	854	727	887	956	844
	0	0	0	0	0	29	38	42	48	44	35	23
	39	38	48	52	46	50	61	79	67	88	96	120
Total Liabilities	138	153	361	563	431	381	560	980	848	1,025	1,092	993
	38	52	60	70	79	91	119	142	157	185	205	221
CWIP	2	2	0	1	2	35	23	15	21	2	12	20
Investments	13	15	207	400	232	105	194	595	425	576	594	464
	86	84	94	93	118	149	225	228	246	261	281	289
Total Assets	138	153	361	563	431	381	560	980	848	1,025	1,092	993

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23	28	30	55	30	48	57	37	71	67	69	104
	-8	-9	-27	-41	-2	-39	-20	-60	-49	-34	-3	-117
	-11	-23	-0	-15	-15	-16	13	-18	-17	-23	-53	-31
Net Cash Flow	4	-5	3	-1	13	-8	50	-41	6	9	13	-44
Free Cash Flow	21	10	20	35	23	6	26	10	42	41	47	63
CFO/OP	105%	99%	88%	123%	78%	87%	99%	65%	99%	105%	90%	126%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	47	44	49	34	39	47	52	29	29	39	44	38
Inventory Days	102	71	73	68	70	93	93	92	102	99	72	74
Days Payable	54	57	71	78	57	80	91	50	51	66	47	66
Cash Conversion Cycle	94	58	51	25	53	59	54	71	79	72	69	47
Working Capital Days	61	54	47	37	47	85	93	84	73	79	62	52
ROCE %	29%	37%	23%	15%	16%	22%	18%	12%	11%	9%	10%	10%

Insights

In beta

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Export Revenue
Rs. Crores

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Wind Energy Generation
Lakh units

Installed Capacity - Pigments
MTPA

Sales Volume - Pigment Division
MT

Installed Capacity - Surfactants
MTPA

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	42.37%	41.68%	41.07%	41.04%	41.04%	40.86%	40.86%	40.62%	40.50%	40.50%	40.45%	40.50%
	0.80%	0.80%	0.84%	1.21%	1.28%	1.22%	1.22%	1.15%	1.12%	1.05%	1.04%	1.24%
	0.82%	0.82%	0.82%	0.24%	0.32%	0.32%	0.63%	0.95%	1.26%	1.33%	1.40%	0.68%
	55.99%	56.69%	57.25%	57.51%	57.34%	57.61%	57.28%	57.28%	57.12%	57.11%	57.11%	57.59%
No. of Shareholders	22,999	22,946	22,352	21,539	19,933	19,228	18,931	18,721	18,804	19,762	19,296	18,689

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	52.56%	53.26%	53.73%	52.85%	48.63%	44.07%	42.37%	41.04%	40.62%	40.50%
	0.11%	0.23%	0.49%	0.98%	0.78%	0.54%	0.80%	1.21%	1.15%	1.24%
	0.15%	0.39%	0.39%	0.39%	0.13%	0.14%	0.82%	0.24%	0.95%	0.68%
	47.18%	46.12%	45.39%	45.78%	50.46%	55.26%	55.99%	57.51%	57.28%	57.59%
No. of Shareholders	8,494	9,613	10,344	9,901	15,562	21,443	23,035	21,539	18,721	18,689

* 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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Ultramarine & Pigments Ltd

Ultramarine & Pigments Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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