As of 6 Nov 2026, Shalimar Paints is loss-making on a trailing 12-month basis, with a net loss of ₹88 Cr, so it has no P/E ratio. The share price is ₹79.23, 17% below its 52-week high. Sales grew 5.9% a year over 3 years. Debt is 0.81× equity. It is a small-cap company with a market cap of ₹663 Cr, ranked 92nd of 204 Specialty Chemicals companies by market cap; the shares rose 2.1% over the past year.
- ₹77.51
- ₹79.50
- ₹77.40
- ₹78.81
- 30.9K
Health check
- ReturnsBehind
+2.1% over a year, better than 2 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +5.9% a year over 3 years, but loss-making now.
- ProfitabilityNegative
ROCE -17.8% vs peer median 24.4%.
- Balance sheetStretched
Debt 0.81× equity, operating profit doesn’t cover interest.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹663 Cr
- Small cap
- P/E
- n/a
- Industry 22.1
- Price to book
- 3.32
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- −36.3%
- Peers 23.0%
- ROCE
- −17.8%
- Peers 24.4%
- Debt to equity
- 0.81
- Debt ₹161 Cr
- EPS (TTM)
- −₹10.49
- Face value ₹2
- OPM (TTM)
- −8.1%
- Net margin −16.2%
- Sales growth
- −13.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 1.23
- EV/EBITDA −16.6
Strengths and risks
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −36.3%.
- Quarterly sales down 13.6% on a year ago.
- Interest coverage of only −1.2×.
About Shalimar Paints
Shalimar Paints Limited engages in the manufacturing and marketing of paints and coatings in India, Nepal, the United Arab Emirates, Bhutan, Seychelles, and internationally. The company offers decorative paints; and industrial paints, including protective, can, and pipeline coatings. It also provides apply supply services; and services in heavy machinery, truck body, agricultural machinery, frp components, auto parts, metal door, construction equipment,…
- Headquarters
- Thane
- Employees
- 599
- Sector
- Basic Materials
- ISIN
- INE849C01026
- Website
- shalimarpaints.com
Price range
- Avg volume (3M)
- 1.3 L
- 1-year return
- plus 2.1%
- From 52-week high
- minus 17.4%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| SHALPAINTSShalimar Paints | 79.23 | plus 0.53% | 663 | – | – | – | −24.2% | 0.81 | 5.9% | plus 2.1% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 134 | 131 | 156 | 138 | 116 | |
| 140 | 142 | 154 | 150 | 139 | |
| −6.3 | −10.6 | 2.1 | −12.2 | −23 | |
| −4.7% | −8.1% | 1.3% | −8.8% | −19.9% | |
| 3.3 | 0.8 | 0.9 | 0.9 | 0.8 | |
| 6.5 | 7.1 | 5.7 | 4.9 | 5.3 | |
| 4.7 | 5.2 | 5.1 | 5.1 | 5.1 | |
| – | −4.6 | – | – | – | |
| −14.1 | −26.7 | −7.8 | −21.3 | −32.6 | |
| – | – | 5.6% | – | – | |
| −14.1 | −26.7 | −7.4 | −21.3 | −32.6 | |
| -1.69 | -3.18 | -0.88 | -2.54 | -3.89 |
Profit & loss
- Sales CAGR 3Y
- +5.9%
- ROE
- −36.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 482 | 531 | 598 | 573 | |
| – | +10.1% | +12.7% | minus 4.2% | |
| 497 | 584 | 656 | 595 | |
| −14.7 | −53.8 | −57.7 | −22.4 | |
| −3.1% | −10.1% | −9.6% | −3.9% | |
| 4 | 4.1 | 5.2 | −0.6 | |
| 12.7 | 10.3 | 13 | 18.2 | |
| 12.7 | 14.8 | 15.8 | 19.6 | |
| −0 | 1 | 0.1 | −4.6 | |
| −36.2 | −73.9 | −81.2 | −65.4 | |
| – | – | – | 0.7% | |
| −36.2 | −73.9 | −81.2 | −65 | |
| -5.01 | -9.52 | -9.70 | -7.76 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 14.4 | 16.7 | 16.7 | 16.7 | |
| 338 | 376 | 298 | 234 | |
| 140 | 106 | 164 | 165 | |
| 131 | 171 | 224 | 225 | |
| 624 | 670 | 702 | 641 | |
| 271 | 315 | 333 | 295 | |
| 2.7 | 42.9 | 34.3 | 1.3 | |
| 0.3 | – | – | – | |
| 23.4 | 18.2 | 7.1 | 0.8 | |
| 326 | 294 | 327 | 343 | |
| 624 | 670 | 702 | 641 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −47.9 | 17.7 | −58.7 | 23.4 | |
| −83.8 | −51.4 | −15.7 | −0.5 | |
| −6.9 | 44.2 | 28.6 | −24.7 | |
| −139 | 10.6 | −45.7 | −1.9 | |
| −11.2 | −57.2 | −33.4 | −10.2 | |
| −59.1 | −39.5 | −92.1 | 13.2 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 0.0% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.