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SIRCA Paints India Overview

Sirca Paints India Ltd engages inside the import and distribution of wooden, steel, and glass coatings in India. The organization offers wood coatings together with wooden stains, polyurethane polishes, polyester merchandise, acrylic finishes, UV merchandise, wood fillers, wood care products, home made outcomes, special effects, and additives; bicomponent water-borne and solvent-borne pigmented topcoats; paints and coatings for metals utilized in corrosion safety and artistic packages; and nitrocellulose and melamine coatings and thinners. It a...Read More

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SIRCA Paints India Key Financials

Market Cap ₹2484 Cr.

Stock P/E 50.6

P/B 5.4

Current Price ₹437.3

Book Value ₹ 80.6

Face Value 10

52W High ₹539

Dividend Yield 0.34%

52W Low ₹ 253.1

SIRCA Paints India Share Price

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Volume
Price

SIRCA Paints India Quarterly Price

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SIRCA Paints India Peer Comparison

SIRCA Paints India Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 84 72 83 79 105 89 101 114 131 113
Other Income 1 2 2 1 1 2 1 0 1 1
Total Income 85 74 85 80 106 91 102 114 132 114
Total Expenditure 62 59 66 65 87 73 82 92 104 90
Operating Profit 22 15 18 15 20 17 20 23 28 24
Interest 0 0 0 0 0 0 0 1 1 1
Depreciation 2 2 2 2 2 2 2 2 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 21 14 17 14 18 16 18 19 24 20
Provision for Tax 5 3 4 4 5 4 4 5 6 5
Profit After Tax 16 11 13 10 13 11 14 14 18 15
Adjustments 0 0 0 0 0 -0 -0 0 0 -0
Profit After Adjustments 16 11 13 10 13 11 14 14 18 15
Adjusted Earnings Per Share 2.8 1.9 2.3 1.9 2.4 2.1 2.6 2.6 3.2 2.6

SIRCA Paints India Profit & Loss

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 135 143 200 268 312 374 459
Other Income 6 14 4 5 6 5 3
Total Income 141 157 204 273 318 379 462
Total Expenditure 104 131 162 206 243 307 368
Operating Profit 37 26 42 67 75 73 95
Interest 0 0 0 0 0 0 3
Depreciation 2 4 4 4 6 7 10
Exceptional Income / Expenses 0 0 0 0 0 0 0
Profit Before Tax 34 23 38 62 69 65 81
Provision for Tax 9 6 10 16 18 16 20
Profit After Tax 25 17 28 46 51 49 61
Adjustments 0 0 0 0 0 0 0
Profit After Adjustments 25 17 28 46 51 49 61
Adjusted Earnings Per Share 4.6 3 5.1 8.4 9.4 9 11

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 20% 23% 23% 0%
Operating Profit CAGR -3% 20% 15% 0%
PAT CAGR -4% 21% 14% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 49% 15% 20% NA%
ROE Average 15% 17% 15% 14%
ROCE Average 19% 23% 19% 19%

SIRCA Paints India Balance Sheet

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 185 202 225 265 309 350
Minority's Interest 0 0 0 0 0 0
Borrowings 0 0 0 0 0 42
Other Non-Current Liabilities -1 -1 -0 0 0 1
Total Current Liabilities 34 59 47 62 60 75
Total Liabilities 218 260 271 328 368 467
Fixed Assets 53 41 53 54 58 164
Other Non-Current Assets 2 4 4 8 9 8
Total Current Assets 163 215 215 265 301 295
Total Assets 218 260 271 328 368 467

SIRCA Paints India Cash Flow

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 16 5 39 45 30 43
Cash Flow from Operating Activities -8 19 35 -19 42 54
Cash Flow from Investing Activities 5 15 -11 9 -21 -45
Cash Flow from Financing Activities -8 -0 -17 -6 -8 -8
Net Cash Inflow / Outflow -11 34 7 -15 12 1
Closing Cash & Cash Equivalent 5 39 45 30 43 43

SIRCA Paints India Ratios

# Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.59 3.03 5.06 8.41 9.38 8.95
CEPS(Rs) 5.03 3.69 5.81 9.22 10.47 10.22
DPS(Rs) 1.5 1.5 2 0.75 1.5 1.5
Book NAV/Share(Rs) 33.69 36.78 41.07 48.44 56.32 63.78
Core EBITDA Margin(%) 23.01 8.56 18.88 23.05 22.03 18.02
EBIT Margin(%) 25.39 15.88 19.02 23.21 22.16 17.55
Pre Tax Margin(%) 25.31 15.75 18.97 23.19 22.15 17.51
PAT Margin (%) 18.63 11.58 13.86 17.22 16.5 13.12
Cash Profit Margin (%) 20.4 14.14 15.92 18.87 18.41 14.98
ROA(%) 11.56 6.95 10.44 15.4 14.78 11.75
ROE(%) 13.62 8.59 12.99 18.8 17.92 14.91
ROCE(%) 18.56 11.38 17.3 25.33 24.06 18.54
Receivable days 123.22 112.98 80.9 66.11 68.44 77.51
Inventory Days 139.04 148.35 122.84 115.9 114.58 99.23
Payable days 104.63 119.5 103.05 84.12 74.69 65.2
PER(x) 20.16 52.21 45.95 38.29 30.31 27
Price/Book(x) 2.75 4.29 5.66 6.65 5.05 3.79
Dividend Yield(%) 0.81 0.47 0.43 0.23 0.53 0.62
EV/Net Sales(x) 3.39 5.59 5.96 6.4 4.78 3.53
EV/Core EBITDA(x) 12.47 30.31 28.25 25.75 19.85 18.19
Net Sales Growth(%) 0 6.02 39.7 33.86 16.42 19.98
EBIT Growth(%) 0 -33.68 67.33 63.34 11.16 -4.97
PAT Growth(%) 0 -34.09 67.19 66.31 11.55 -4.62
EPS Growth(%) 0 -34.09 67.19 66.31 11.55 -4.62
Debt/Equity(x) 0 0.07 0 0 0 0.14
Current Ratio(x) 4.83 3.64 4.59 4.28 5.04 3.94
Quick Ratio(x) 3.3 2.54 3.1 2.66 3.44 2.5
Interest Cover(x) 343.19 124.12 386.66 1452.02 3419.85 377.08
Total Debt/Mcap(x) 0 0.02 0 0 0 0.04

SIRCA Paints India Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 67.55 67.55 67.55 67.55 67.55 67.55 67.55 65.19 65.19 65.19
FII 5.93 5.48 5.36 4.61 4.09 4.28 5.19 6.47 6.92 6.3
DII 0.8 0.75 0.69 0.69 0 0 0 0.32 0.32 0
Public 25.73 26.22 26.41 27.15 28.36 28.17 27.26 28.03 27.58 28.51
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

SIRCA Paints India News

SIRCA Paints India Pros & Cons

Pros

  • Debtor days have improved from 74.69 to 65.2days.
  • Company is almost debt free.

Cons

  • Stock is trading at 5.4 times its book value.
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