Shalimar Paints Ltd.
•₹ 80.89-2.32%
2026-08-21
PROS
- Working capital cycle has improved - days down from 59 to 0
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Company has a low return on equity of -25.4% over last 3 years
- Company has a low return on capital employed of -12.4%
- Receivables are growing faster than sales - a possible quality concern
- Interest coverage is weak at -3.6x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ASIANPAINT | 2619.20 | 52.73 | 251233.09 | 1.05 | 1559.45 | 39.60 | 10541.94 | 18.12 | 28.22 | 20.93 |
| 2. | BERGEPAINT | 534.65 | 51.24 | 62340.34 | 0.75 | 405.01 | 28.56 | 3583.75 | 11.97 | 23.14 | 17.28 |
| 3. | KANSAINER | 201.35 | 27.13 | 16284.76 | 1.24 | 228.41 | 5.95 | 2373.59 | 9.79 | 12.44 | 13.83 |
| 4. | JSWDULUX | 3093.15 | 7.18 | 14086.30 | 6.66 | 79.70 | -12.42 | 965.00 | -3.02 | 125.82 | 11.93 |
| 5. | INDIGOPNTS | 1149.05 | 34.09 | 5484.72 | 0.44 | 41.70 | 60.04 | 369.67 | 19.69 | 19.92 | 16.78 |
| 6. | SHALPAINTS | 81.65 | 0.00 | 683.50 | 0.00 | -21.26 | -27.53 | 137.72 | -10.26 | -12.11 | -8.84 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 126 | 119 | 146 | 144 | 128 | 145 | 148 | 178 | 153 | 134 | 131 | 156 | 138 | |
| 130 | 139 | 153 | 167 | 150 | 158 | 164 | 186 | 161 | 140 | 142 | 154 | 160 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 2 | 2 | 2 | 3 | 1 | 1 | 1 | 7 | 2 | 3 | 1 | 1 | 1 |
| Interest | 4 | 4 | 2 | 2 | 3 | 4 | 5 | 5 | 6 | 6 | 7 | 6 | 5 |
| Depreciation | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 |
| -10 | -26 | -12 | -26 | -27 | -20 | -25 | -10 | -17 | -14 | -27 | -8 | -21 | |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 5.62% | -0.00% |
| Net Profit | 0 | 0 | 0 | 0 | -27 | -20 | -24 | -10 | -17 | -14 | -27 | -7 | -21 |
| -1 | -4 | -1 | -3 | -3 | -2 | -3 | -1 | -2 | -2 | -3 | -1 | -0 | |
| Equity Capital | 14 | 14 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 14 | 14 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 126
- 130
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 4
- Depreciation
- 3
- -10
- Tax %
- -0.00%
- Net Profit
- 0
- -1
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 119
- 139
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 4
- Depreciation
- 3
- -26
- Tax %
- -0.00%
- Net Profit
- 0
- -4
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 14
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 146
- 153
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 2
- Depreciation
- 4
- -12
- Tax %
- -0.00%
- Net Profit
- 0
- -1
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 144
- 167
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 2
- Depreciation
- 4
- -26
- Tax %
- -0.00%
- Net Profit
- 0
- -3
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 128
- 150
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 3
- Depreciation
- 4
- -27
- Tax %
- -0.00%
- Net Profit
- -27
- -3
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 145
- 158
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 4
- Depreciation
- 4
- -20
- Tax %
- -0.00%
- Net Profit
- -20
- -2
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 148
- 164
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 5
- Depreciation
- 4
- -25
- Tax %
- -0.00%
- Net Profit
- -24
- -3
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 178
- 186
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 5
- Depreciation
- 4
- -10
- Tax %
- -0.00%
- Net Profit
- -10
- -1
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 153
- 161
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 6
- Depreciation
- 5
- -17
- Tax %
- -0.00%
- Net Profit
- -17
- -2
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 134
- 140
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 6
- Depreciation
- 5
- -14
- Tax %
- -0.00%
- Net Profit
- -14
- -2
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 131
- 142
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 7
- Depreciation
- 5
- -27
- Tax %
- -0.00%
- Net Profit
- -27
- -3
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 156
- 154
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 6
- Depreciation
- 5
- -8
- Tax %
- 5.62%
- Net Profit
- -7
- -1
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 138
- 160
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 5
- Depreciation
- 5
- -21
- Tax %
- -0.00%
- Net Profit
- -21
- -0
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 17
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 403 | 350 | 271 | 288 | 344 | 326 | 358 | 484 | 535 | 599 | 559 | |
| 373 | 336 | 305 | 349 | 378 | 322 | 381 | 499 | 589 | 656 | 596 | |
| Operating Profit | 31 | 16 | -33 | -60 | -32 | 11 | -18 | -8 | -46 | -47 | — |
| OPM % | 8 | 4 | -12 | -21 | -9 | 3 | -5 | -2 | -9 | -8 | — |
| Other Income | 1 | 2 | 1 | 2 | 1 | 7 | 5 | 7 | 8 | 10 | 6 |
| Interest | 22 | 23 | 26 | 25 | 20 | 19 | 22 | 16 | 13 | 18 | 24 |
| Depreciation | 5 | 8 | 8 | 9 | 11 | 13 | 13 | 13 | 15 | 16 | 20 |
| 4 | -15 | -67 | -109 | -56 | -24 | -61 | -36 | -74 | -80 | -70 | |
| Tax % | -23 | 36 | 32 | 25 | 32 | -110 | 1 | 0 | 0 | 0 | 1 |
| Net Profit | 5 | -10 | -46 | -82 | -38 | -50 | -60 | -36 | -74 | -80 | -69 |
| EPS | 0 | 0 | 0 | 0 | 0 | -9 | -11 | -5 | -9 | -10 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | -4 | -18 | -15 | -7 | -9 | -8 | -5 | -9 | -10 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | -4 | -18 | -15 | -7 | -9 | -8 | -5 | -9 | -10 | — |
Mar 2016
- 403
- 373
- Operating Profit
- 31
- OPM %
- 8
- Other Income
- 1
- Interest
- 22
- Depreciation
- 5
- 4
- Tax %
- -23
- Net Profit
- 5
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2017
- 350
- 336
- Operating Profit
- 16
- OPM %
- 4
- Other Income
- 2
- Interest
- 23
- Depreciation
- 8
- -15
- Tax %
- 36
- Net Profit
- -10
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
Mar 2018
- 271
- 305
- Operating Profit
- -33
- OPM %
- -12
- Other Income
- 1
- Interest
- 26
- Depreciation
- 8
- -67
- Tax %
- 32
- Net Profit
- -46
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -18
Mar 2019
- 288
- 349
- Operating Profit
- -60
- OPM %
- -21
- Other Income
- 2
- Interest
- 25
- Depreciation
- 9
- -109
- Tax %
- 25
- Net Profit
- -82
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -15
Mar 2020
- 344
- 378
- Operating Profit
- -32
- OPM %
- -9
- Other Income
- 1
- Interest
- 20
- Depreciation
- 11
- -56
- Tax %
- 32
- Net Profit
- -38
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -7
Mar 2021
- 326
- 322
- Operating Profit
- 11
- OPM %
- 3
- Other Income
- 7
- Interest
- 19
- Depreciation
- 13
- -24
- Tax %
- -110
- Net Profit
- -50
- EPS
- -9
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -9
Mar 2022
- 358
- 381
- Operating Profit
- -18
- OPM %
- -5
- Other Income
- 5
- Interest
- 22
- Depreciation
- 13
- -61
- Tax %
- 1
- Net Profit
- -60
- EPS
- -11
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -8
Mar 2023
- 484
- 499
- Operating Profit
- -8
- OPM %
- -2
- Other Income
- 7
- Interest
- 16
- Depreciation
- 13
- -36
- Tax %
- 0
- Net Profit
- -36
- EPS
- -5
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
Mar 2024
- 535
- 589
- Operating Profit
- -46
- OPM %
- -9
- Other Income
- 8
- Interest
- 13
- Depreciation
- 15
- -74
- Tax %
- 0
- Net Profit
- -74
- EPS
- -9
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -9
Mar 2025
- 599
- 656
- Operating Profit
- -47
- OPM %
- -8
- Other Income
- 10
- Interest
- 18
- Depreciation
- 16
- -80
- Tax %
- 0
- Net Profit
- -80
- EPS
- -10
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -10
TTM
- 559
- 596
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 24
- Depreciation
- 20
- -70
- Tax %
- 1
- Net Profit
- -69
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 3%
- 5 Years:
- 12%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -6%
- 5 Years:
- -3%
- 3 Years:
- -20%
- 1 Year:
- 13%
RETURN ON EQUITY
- 10 Years:
- -20%
- 5 Years:
- -23%
- 3 Years:
- -25%
- Last Year:
- -33%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 4 | 4 | 4 | 11 | 11 | 11 | 14 | 14 | 17 | 17 |
| 62 | 180 | 134 | 294 | 262 | 212 | 336 | 301 | 375 | 296 | |
| 94 | 147 | 154 | 129 | 103 | 106 | 84 | 70 | 71 | 132 | |
| Trade Payables | 157 | 129 | 140 | 98 | 96 | 112 | 98 | 100 | 142 | 192 |
| 71 | 100 | 88 | 60 | 44 | 70 | 115 | 139 | 66 | 65 | |
| Total Liabilities | 388 | 560 | 519 | 592 | 515 | 511 | 647 | 624 | 670 | 702 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 75 | 222 | 250 | 246 | 295 | 283 | 276 | 272 | 275 | 303 | |
| Capital Work in Progress | 6 | 14 | 1 | 24 | 0 | 0 | 0 | 2 | 34 | 26 |
| 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 111 | 93 | 74 | 71 | 87 | 89 | 95 | 114 | 116 | 134 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 111 | 148 | |
| Cash & Bank | 9 | 12 | 19 | 91 | 5 | 8 | 162 | 23 | 56 | 45 |
| 188 | 217 | 176 | 160 | 130 | 131 | 113 | 213 | 78 | 46 | |
| Total Assets | 388 | 560 | 519 | 592 | 515 | 511 | 647 | 624 | 670 | 702 |
| Total Debt | 137 | 171 | 179 | 152 | 121 | 131 | 166 | 139 | 103 | 153 |
| Net Working Capital | 18 | -9 | -83 | 28 | -44 | -51 | 161 | 97 | 101 | 0 |
| Contingent Liabilities | 19 | 23 | 75 | 70 | 77 | 74 | 77 | 44 | 36 | 41 |
| Book Value per Share | 33.28 | 96.81 | 72.71 | 56.87 | 50.21 | 41.06 | 48.57 | 28.58 | 33.76 | 24.43 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 137 | 171 | 179 | 152 | 121 | 131 | 166 | 139 | 103 | 153 |
| Net Working Capital | 18 | -9 | -83 | 28 | -44 | -51 | 161 | 97 | 101 | 0 |
| Contingent Liabilities | 19 | 23 | 75 | 70 | 77 | 74 | 77 | 44 | 36 | 41 |
| Book Value per Share | 33.28 | 96.81 | 72.71 | 56.87 | 50.21 | 41.06 | 48.57 | 28.58 | 33.76 | 24.43 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2016
- Equity Capital
- 4
- 62
- 94
- Trade Payables
- 157
- 71
- Total Liabilities
- 388
- 75
- Capital Work in Progress
- 6
- 0
- 111
- 0
- Cash & Bank
- 9
- 188
- Total Assets
- 388
- Total Debt
- 137
- Net Working Capital
- 18
- Contingent Liabilities
- 19
- Book Value per Share
- 33.28
- Face Value
- 2.00
- Total Debt
- 137
- Net Working Capital
- 18
- Contingent Liabilities
- 19
- Book Value per Share
- 33.28
- Face Value
- 2.00
Mar 2017
- Equity Capital
- 4
- 180
- 147
- Trade Payables
- 129
- 100
- Total Liabilities
- 560
- 222
- Capital Work in Progress
- 14
- 3
- 93
- 0
- Cash & Bank
- 12
- 217
- Total Assets
- 560
- Total Debt
- 171
- Net Working Capital
- -9
- Contingent Liabilities
- 23
- Book Value per Share
- 96.81
- Face Value
- 2.00
- Total Debt
- 171
- Net Working Capital
- -9
- Contingent Liabilities
- 23
- Book Value per Share
- 96.81
- Face Value
- 2.00
Mar 2018
- Equity Capital
- 4
- 134
- 154
- Trade Payables
- 140
- 88
- Total Liabilities
- 519
- 250
- Capital Work in Progress
- 1
- 0
- 74
- 0
- Cash & Bank
- 19
- 176
- Total Assets
- 519
- Total Debt
- 179
- Net Working Capital
- -83
- Contingent Liabilities
- 75
- Book Value per Share
- 72.71
- Face Value
- 2.00
- Total Debt
- 179
- Net Working Capital
- -83
- Contingent Liabilities
- 75
- Book Value per Share
- 72.71
- Face Value
- 2.00
Mar 2019
- Equity Capital
- 11
- 294
- 129
- Trade Payables
- 98
- 60
- Total Liabilities
- 592
- 246
- Capital Work in Progress
- 24
- 0
- 71
- 0
- Cash & Bank
- 91
- 160
- Total Assets
- 592
- Total Debt
- 152
- Net Working Capital
- 28
- Contingent Liabilities
- 70
- Book Value per Share
- 56.87
- Face Value
- 2.00
- Total Debt
- 152
- Net Working Capital
- 28
- Contingent Liabilities
- 70
- Book Value per Share
- 56.87
- Face Value
- 2.00
Mar 2020
- Equity Capital
- 11
- 262
- 103
- Trade Payables
- 96
- 44
- Total Liabilities
- 515
- 295
- Capital Work in Progress
- 0
- 0
- 87
- 0
- Cash & Bank
- 5
- 130
- Total Assets
- 515
- Total Debt
- 121
- Net Working Capital
- -44
- Contingent Liabilities
- 77
- Book Value per Share
- 50.21
- Face Value
- 2.00
- Total Debt
- 121
- Net Working Capital
- -44
- Contingent Liabilities
- 77
- Book Value per Share
- 50.21
- Face Value
- 2.00
Mar 2021
- Equity Capital
- 11
- 212
- 106
- Trade Payables
- 112
- 70
- Total Liabilities
- 511
- 283
- Capital Work in Progress
- 0
- 0
- 89
- 0
- Cash & Bank
- 8
- 131
- Total Assets
- 511
- Total Debt
- 131
- Net Working Capital
- -51
- Contingent Liabilities
- 74
- Book Value per Share
- 41.06
- Face Value
- 2.00
- Total Debt
- 131
- Net Working Capital
- -51
- Contingent Liabilities
- 74
- Book Value per Share
- 41.06
- Face Value
- 2.00
Mar 2022
- Equity Capital
- 14
- 336
- 84
- Trade Payables
- 98
- 115
- Total Liabilities
- 647
- 276
- Capital Work in Progress
- 0
- 0
- 95
- 0
- Cash & Bank
- 162
- 113
- Total Assets
- 647
- Total Debt
- 166
- Net Working Capital
- 161
- Contingent Liabilities
- 77
- Book Value per Share
- 48.57
- Face Value
- 2.00
- Total Debt
- 166
- Net Working Capital
- 161
- Contingent Liabilities
- 77
- Book Value per Share
- 48.57
- Face Value
- 2.00
Mar 2023
- Equity Capital
- 14
- 301
- 70
- Trade Payables
- 100
- 139
- Total Liabilities
- 624
- 272
- Capital Work in Progress
- 2
- 0
- 114
- 0
- Cash & Bank
- 23
- 213
- Total Assets
- 624
- Total Debt
- 139
- Net Working Capital
- 97
- Contingent Liabilities
- 44
- Book Value per Share
- 28.58
- Face Value
- 2.00
- Total Debt
- 139
- Net Working Capital
- 97
- Contingent Liabilities
- 44
- Book Value per Share
- 28.58
- Face Value
- 2.00
Mar 2024
- Equity Capital
- 17
- 375
- 71
- Trade Payables
- 142
- 66
- Total Liabilities
- 670
- 275
- Capital Work in Progress
- 34
- 0
- 116
- 111
- Cash & Bank
- 56
- 78
- Total Assets
- 670
- Total Debt
- 103
- Net Working Capital
- 101
- Contingent Liabilities
- 36
- Book Value per Share
- 33.76
- Face Value
- 2.00
- Total Debt
- 103
- Net Working Capital
- 101
- Contingent Liabilities
- 36
- Book Value per Share
- 33.76
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 17
- 296
- 132
- Trade Payables
- 192
- 65
- Total Liabilities
- 702
- 303
- Capital Work in Progress
- 26
- 0
- 134
- 148
- Cash & Bank
- 45
- 46
- Total Assets
- 702
- Total Debt
- 153
- Net Working Capital
- 0
- Contingent Liabilities
- 41
- Book Value per Share
- 24.43
- Face Value
- 2.00
- Total Debt
- 153
- Net Working Capital
- 0
- Contingent Liabilities
- 41
- Book Value per Share
- 24.43
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 38 | 34 | 36 | -94 | -9 | 16 | -62 | -48 | 18 | -59 | |
| Cash from Investing | -7 | -16 | -11 | -34 | -28 | -5 | -6 | -84 | -51 | -14 |
| Cash from Financing | -23 | -19 | -18 | 198 | -46 | -11 | 225 | -7 | 44 | 27 |
| 8 | -1 | 7 | 70 | -83 | -0 | 157 | -139 | 11 | -46 | |
| Free Cash Flow | 30 | -69 | 13 | -122 | -46 | 14 | -66 | -59 | -24 | -94 |
| OCF / Net Profit | 7.16 | -3.54 | -0.79 | 1.15 | 0.24 | -0.32 | 1.02 | 1.33 | -0.24 | 0.73 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -192 | -209 | -207 | -278 | -181 | -229 |
| OCF / Net Profit | 7.16 | -3.54 | -0.79 | 1.15 | 0.24 | -0.32 | 1.02 | 1.33 | -0.24 | 0.73 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -192 | -209 | -207 | -278 | -181 | -229 |
Mar 2016
- 38
- Cash from Investing
- -7
- Cash from Financing
- -23
- 8
- Free Cash Flow
- 30
- OCF / Net Profit
- 7.16
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 7.16
- Cumulative 5-Year FCF
- 0
Mar 2017
- 34
- Cash from Investing
- -16
- Cash from Financing
- -19
- -1
- Free Cash Flow
- -69
- OCF / Net Profit
- -3.54
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -3.54
- Cumulative 5-Year FCF
- 0
Mar 2018
- 36
- Cash from Investing
- -11
- Cash from Financing
- -18
- 7
- Free Cash Flow
- 13
- OCF / Net Profit
- -0.79
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.79
- Cumulative 5-Year FCF
- 0
Mar 2019
- -94
- Cash from Investing
- -34
- Cash from Financing
- 198
- 70
- Free Cash Flow
- -122
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 0
Mar 2020
- -9
- Cash from Investing
- -28
- Cash from Financing
- -46
- -83
- Free Cash Flow
- -46
- OCF / Net Profit
- 0.24
- Cumulative 5-Year FCF
- -192
- OCF / Net Profit
- 0.24
- Cumulative 5-Year FCF
- -192
Mar 2021
- 16
- Cash from Investing
- -5
- Cash from Financing
- -11
- -0
- Free Cash Flow
- 14
- OCF / Net Profit
- -0.32
- Cumulative 5-Year FCF
- -209
- OCF / Net Profit
- -0.32
- Cumulative 5-Year FCF
- -209
Mar 2022
- -62
- Cash from Investing
- -6
- Cash from Financing
- 225
- 157
- Free Cash Flow
- -66
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- -207
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- -207
Mar 2023
- -48
- Cash from Investing
- -84
- Cash from Financing
- -7
- -139
- Free Cash Flow
- -59
- OCF / Net Profit
- 1.33
- Cumulative 5-Year FCF
- -278
- OCF / Net Profit
- 1.33
- Cumulative 5-Year FCF
- -278
Mar 2024
- 18
- Cash from Investing
- -51
- Cash from Financing
- 44
- 11
- Free Cash Flow
- -24
- OCF / Net Profit
- -0.24
- Cumulative 5-Year FCF
- -181
- OCF / Net Profit
- -0.24
- Cumulative 5-Year FCF
- -181
Mar 2025
- -59
- Cash from Investing
- -14
- Cash from Financing
- 27
- -46
- Free Cash Flow
- -94
- OCF / Net Profit
- 0.73
- Cumulative 5-Year FCF
- -229
- OCF / Net Profit
- 0.73
- Cumulative 5-Year FCF
- -229
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 2.77 | -5.12 | -24.04 | -15.24 | -7.03 | -9.18 | -8.36 | -5.01 | -8.82 | -9.58 |
| Book Value (₹) | 33.28 | 96.81 | 72.71 | 56.87 | 50.21 | 41.06 | 48.57 | 28.58 | 33.76 | 24.43 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 3.91 | -0.59 | -15.12 | -13.61 | -5.03 | -6.73 | -6.50 | -3.25 | -7.05 | -7.69 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 6.55% | 3.93% | -10.69% | -18.58% | -8.49% | 3.00% | -4.42% | -1.38% | -8.64% | -8.10% |
| Net Margin % | 1.09% | -2.46% | -14.55% | -25.46% | -10.00% | -13.82% | -14.93% | -6.62% | -11.78% | -11.45% |
| ROE % | 8.63% | -7.87% | -28.37% | -36.94% | -13.22% | -20.12% | -21.04% | -12.98% | -30.21% | -32.92% |
| ROCE % | 13.60% | 2.65% | -12.31% | -21.72% | -8.53% | -1.20% | -8.88% | -4.50% | -15.81% | -16.77% |
| 1.37% | -2.05% | -8.44% | -14.73% | -6.90% | -9.71% | -10.42% | -5.69% | -11.42% | -11.69% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 113 | 124 | 134 | 116 | 82 | 77 | 71 | 62 | 64 | 67 |
| Inventory Days | 82 | 94 | 97 | 83 | 76 | 89 | 83 | 70 | 67 | 65 |
| Payable Days | 209 | 200 | 212 | 182 | 138 | 170 | 142 | 101 | 114 | 140 |
| -14 | 18 | 20 | 17 | 19 | -5 | 12 | 31 | 17 | -7 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 2.17x | 0.93x | 1.30x | 0.50x | 0.44x | 0.59x | 0.47x | 0.67x | 0.37x | 0.75x |
| Interest Coverage (x) | 1.19x | 0.33x | -1.59x | -3.36x | -1.83x | -0.23x | -1.73x | -1.27x | -4.70x | -3.57x |
| 1.06x | 0.97x | 0.76x | 1.10x | 0.83x | 0.81x | 1.79x | 1.39x | 1.41x | 1.00x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -7.00% | -13.19% | -22.47% | 6.06% | 19.55% | -5.32% | 10.02% | 35.07% | 10.56% | 11.99% |
| Operating Profit Growth % | 198.04% | -50.74% | -315.80% | -78.34% | 45.71% | 133.40% | -264.96% | 57.76% | -510.74% | -1.72% |
| Net Profit Growth % | 149.63% | -284.53% | -369.96% | -79.51% | 53.31% | -30.59% | -21.03% | 40.10% | -104.29% | -8.54% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -76.22% | -8.54% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.93x | 4.04x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -31.29x | -19.94x |
Mar 2016
- EPS (₹)
- 2.77
- Book Value (₹)
- 33.28
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.91
- Operating Margin %
- 6.55%
- Net Margin %
- 1.09%
- ROE %
- 8.63%
- ROCE %
- 13.60%
- 1.37%
- Debtor Days
- 113
- Inventory Days
- 82
- Payable Days
- 209
- -14
- Debt to Equity (x)
- 2.17x
- Interest Coverage (x)
- 1.19x
- 1.06x
- Revenue Growth %
- -7.00%
- Operating Profit Growth %
- 198.04%
- Net Profit Growth %
- 149.63%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- -5.12
- Book Value (₹)
- 96.81
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.59
- Operating Margin %
- 3.93%
- Net Margin %
- -2.46%
- ROE %
- -7.87%
- ROCE %
- 2.65%
- -2.05%
- Debtor Days
- 124
- Inventory Days
- 94
- Payable Days
- 200
- 18
- Debt to Equity (x)
- 0.93x
- Interest Coverage (x)
- 0.33x
- 0.97x
- Revenue Growth %
- -13.19%
- Operating Profit Growth %
- -50.74%
- Net Profit Growth %
- -284.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -24.04
- Book Value (₹)
- 72.71
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -15.12
- Operating Margin %
- -10.69%
- Net Margin %
- -14.55%
- ROE %
- -28.37%
- ROCE %
- -12.31%
- -8.44%
- Debtor Days
- 134
- Inventory Days
- 97
- Payable Days
- 212
- 20
- Debt to Equity (x)
- 1.30x
- Interest Coverage (x)
- -1.59x
- 0.76x
- Revenue Growth %
- -22.47%
- Operating Profit Growth %
- -315.80%
- Net Profit Growth %
- -369.96%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -15.24
- Book Value (₹)
- 56.87
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -13.61
- Operating Margin %
- -18.58%
- Net Margin %
- -25.46%
- ROE %
- -36.94%
- ROCE %
- -21.72%
- -14.73%
- Debtor Days
- 116
- Inventory Days
- 83
- Payable Days
- 182
- 17
- Debt to Equity (x)
- 0.50x
- Interest Coverage (x)
- -3.36x
- 1.10x
- Revenue Growth %
- 6.06%
- Operating Profit Growth %
- -78.34%
- Net Profit Growth %
- -79.51%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -7.03
- Book Value (₹)
- 50.21
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -5.03
- Operating Margin %
- -8.49%
- Net Margin %
- -10.00%
- ROE %
- -13.22%
- ROCE %
- -8.53%
- -6.90%
- Debtor Days
- 82
- Inventory Days
- 76
- Payable Days
- 138
- 19
- Debt to Equity (x)
- 0.44x
- Interest Coverage (x)
- -1.83x
- 0.83x
- Revenue Growth %
- 19.55%
- Operating Profit Growth %
- 45.71%
- Net Profit Growth %
- 53.31%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- -9.18
- Book Value (₹)
- 41.06
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -6.73
- Operating Margin %
- 3.00%
- Net Margin %
- -13.82%
- ROE %
- -20.12%
- ROCE %
- -1.20%
- -9.71%
- Debtor Days
- 77
- Inventory Days
- 89
- Payable Days
- 170
- -5
- Debt to Equity (x)
- 0.59x
- Interest Coverage (x)
- -0.23x
- 0.81x
- Revenue Growth %
- -5.32%
- Operating Profit Growth %
- 133.40%
- Net Profit Growth %
- -30.59%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- -8.36
- Book Value (₹)
- 48.57
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -6.50
- Operating Margin %
- -4.42%
- Net Margin %
- -14.93%
- ROE %
- -21.04%
- ROCE %
- -8.88%
- -10.42%
- Debtor Days
- 71
- Inventory Days
- 83
- Payable Days
- 142
- 12
- Debt to Equity (x)
- 0.47x
- Interest Coverage (x)
- -1.73x
- 1.79x
- Revenue Growth %
- 10.02%
- Operating Profit Growth %
- -264.96%
- Net Profit Growth %
- -21.03%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- -5.01
- Book Value (₹)
- 28.58
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -3.25
- Operating Margin %
- -1.38%
- Net Margin %
- -6.62%
- ROE %
- -12.98%
- ROCE %
- -4.50%
- -5.69%
- Debtor Days
- 62
- Inventory Days
- 70
- Payable Days
- 101
- 31
- Debt to Equity (x)
- 0.67x
- Interest Coverage (x)
- -1.27x
- 1.39x
- Revenue Growth %
- 35.07%
- Operating Profit Growth %
- 57.76%
- Net Profit Growth %
- 40.10%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- -8.82
- Book Value (₹)
- 33.76
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -7.05
- Operating Margin %
- -8.64%
- Net Margin %
- -11.78%
- ROE %
- -30.21%
- ROCE %
- -15.81%
- -11.42%
- Debtor Days
- 64
- Inventory Days
- 67
- Payable Days
- 114
- 17
- Debt to Equity (x)
- 0.37x
- Interest Coverage (x)
- -4.70x
- 1.41x
- Revenue Growth %
- 10.56%
- Operating Profit Growth %
- -510.74%
- Net Profit Growth %
- -104.29%
- -76.22%
- P/E (x)
- 0.00x
- P/B (x)
- 4.93x
- Dividend Yield %
- 0.00%
- -31.29x
Mar 2025
- EPS (₹)
- -9.58
- Book Value (₹)
- 24.43
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -7.69
- Operating Margin %
- -8.10%
- Net Margin %
- -11.45%
- ROE %
- -32.92%
- ROCE %
- -16.77%
- -11.69%
- Debtor Days
- 67
- Inventory Days
- 65
- Payable Days
- 140
- -7
- Debt to Equity (x)
- 0.75x
- Interest Coverage (x)
- -3.57x
- 1.00x
- Revenue Growth %
- 11.99%
- Operating Profit Growth %
- -1.72%
- Net Profit Growth %
- -8.54%
- -8.54%
- P/E (x)
- 0.00x
- P/B (x)
- 4.04x
- Dividend Yield %
- 0.00%
- -19.94x
Documents
Announcements
- Copy of Newspaper Publication
2026-08-20 - Shalimar Paints Limited has informed the Exchange about Copy of Newspaper Publication
- Copy of Newspaper Publication
2026-08-19 - Shalimar Paints Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
- Credit Rating
2026-06-03 - Shalimar Paints Limited has informed the Exchange about Credit Rating
Concalls
Aug 2023
Jun 2023
Feb 2023