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Consolidated Standalone

SIRCA Paints India

₹317.6 9.9 | 3.2%

Market Cap ₹1740 Cr.

Stock P/E 36.0

P/B 5.9

Current Price ₹317.6

Book Value ₹ 54

Face Value 10

52W High ₹443.9

Dividend Yield 0.47%

52W Low ₹ 283.5

Edit Ratio

SIRCA Paints India Research see more...

Overview Inc. Year: 2006Industry: Trading

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 also exports its products to Bangladesh, Sri Lanka and Nepal. Sirca Paints India Ltd was established in 2006 and is based in Delhi, India.

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SIRCA Paints India Share Price

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Peer Comparison

SIRCA Paints India Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 61 53 54 61 73 65 68 73 84 72
Other Income 1 1 1 1 2 1 1 1 1 2
Total Income 62 55 55 63 74 66 69 74 85 74
Total Expenditure 47 41 45 46 54 51 55 56 62 59
Operating Profit 15 13 10 17 21 15 14 19 22 15
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 14 12 9 15 20 14 13 18 21 14
Provision for Tax 4 3 3 4 5 4 4 5 5 3
Profit After Tax 10 9 6 12 14 11 9 13 16 11
Adjustments 0 0 0 0 -0 -0 -0 0 0 0
Profit After Adjustments 10 9 6 12 14 11 9 13 16 11
Adjusted Earnings Per Share 1.9 1.7 1.1 2.1 2.6 1.9 1.7 2.4 2.8 1.9

SIRCA Paints India Profit & Loss

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 135 143 200 268 297
Other Income 6 14 4 5 5
Total Income 141 157 204 273 302
Total Expenditure 104 131 162 206 232
Operating Profit 37 26 42 67 70
Interest 0 0 0 0 0
Depreciation 2 4 4 4 6
Exceptional Income / Expenses 0 0 0 0 0
Profit Before Tax 34 23 38 62 66
Provision for Tax 9 6 10 16 17
Profit After Tax 25 17 28 46 49
Adjustments 0 0 0 0 0
Profit After Adjustments 25 17 28 46 49
Adjusted Earnings Per Share 4.6 3 5.1 8.4 8.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 34% 26% 0% 0%
Operating Profit CAGR 60% 22% 0% 0%
PAT CAGR 64% 23% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 3% 25% 33% NA%
ROE Average 19% 13% 14% 14%
ROCE Average 25% 18% 18% 18%

SIRCA Paints India Balance Sheet

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 185 202 225 265
Minority's Interest 0 0 0 0
Borrowings 0 0 0 0
Other Non-Current Liabilities -1 -1 -0 0
Total Current Liabilities 34 59 47 62
Total Liabilities 218 260 271 328
Fixed Assets 53 41 53 54
Other Non-Current Assets 2 4 4 8
Total Current Assets 163 215 215 265
Total Assets 218 260 271 328

SIRCA Paints India Cash Flow

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

SIRCA Paints India Ratios

# Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 4.59 3.03 5.06 8.41
CEPS(Rs) 5.03 3.69 5.81 9.22
DPS(Rs) 1.5 1.5 2 1.5
Book NAV/Share(Rs) 33.69 36.78 41.07 48.44
Core EBITDA Margin(%) 23.01 8.56 18.88 23.05
EBIT Margin(%) 25.39 15.88 19.02 23.21
Pre Tax Margin(%) 25.31 15.75 18.97 23.19
PAT Margin (%) 18.63 11.58 13.86 17.22
Cash Profit Margin (%) 20.4 14.14 15.92 18.87
ROA(%) 11.56 6.95 10.44 15.4
ROE(%) 13.62 8.59 12.99 18.8
ROCE(%) 18.56 11.38 17.3 25.33
Receivable days 123.22 112.98 80.9 66.11
Inventory Days 139.04 148.35 122.84 115.9
Payable days 104.63 119.5 103.05 84.12
PER(x) 20.16 52.21 45.95 38.29
Price/Book(x) 2.75 4.29 5.66 6.65
Dividend Yield(%) 0.81 0.47 0.43 0.23
EV/Net Sales(x) 3.39 5.59 5.96 6.4
EV/Core EBITDA(x) 12.47 30.31 28.25 25.75
Net Sales Growth(%) 0 6.02 39.7 33.86
EBIT Growth(%) 0 -33.68 67.33 63.34
PAT Growth(%) 0 -34.09 67.19 66.31
EPS Growth(%) 0 -34.09 67.19 66.31
Debt/Equity(x) 0 0.07 0 0
Current Ratio(x) 4.83 3.64 4.59 4.28
Quick Ratio(x) 3.3 2.54 3.1 2.66
Interest Cover(x) 343.19 124.12 386.66 1452.02
Total Debt/Mcap(x) 0 0.02 0 0

SIRCA Paints India Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 67.55 67.55 67.55 67.55 67.55 67.55 67.55 67.55 67.55 67.55
FII 2.18 1.73 1.97 1.97 5.59 5.55 5.89 5.94 5.93 5.48
DII 3.53 3.84 3.93 3.81 4.42 3.88 0 0 0.8 0.75
Public 26.75 26.88 26.56 26.67 22.44 23.02 26.56 26.51 25.73 26.22
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 103.05 to 84.12days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
  • Stock is trading at 5.9 times its book value.

* 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.

SIRCA Paints India News

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