On 6 Nov 2026, Sirca Paints India was priced at ₹406.30, or 34.0× trailing earnings, against an industry P/E of 22.1×, and the shares are 25% below their 52-week high. It earns ROCE of 18% and ROE of 16%, and sales and net profit grew 23% and 12% a year over 3 years. It has almost no debt, and its dividend yield is 0.5%. It is a small-cap company with a market cap of ₹2,313 Cr, ranked 57th of 204 Specialty Chemicals companies by market cap; the shares fell 19% over the past year.
- ₹410.80
- ₹413.00
- ₹403.35
- ₹410.60
- 3.1 L
Health check
- ReturnsBehind
−18.9% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 34.0 vs industry 22.1.
- GrowthSteady
Sales +22.5%, profit +12.1% a year over 3 years.
- ProfitabilityAverage
ROCE 17.9% vs peer median 24.4%.
- Balance sheetFair
Debt 0.07× equity, interest covered 18.9×, Piotroski 5 of 9.
- Red flags1 to check
P/E of 34.0 against an industry P/E of 22.1.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,313 Cr
- Small cap
- P/E
- 34.0
- Industry 22.1
- Price to book
- 4.86
- Peers 13.33
- Dividend yield
- 0.49%
- ROE
- 15.8%
- Peers 23.0%
- ROCE
- 17.9%
- Peers 24.4%
- Debt to equity
- 0.07
- Debt ₹32 Cr
- EPS (TTM)
- ₹11.94
- Face value ₹10
- OPM (TTM)
- 19.7%
- Net margin 13.2%
- Sales growth
- +13.8%
- Latest quarter vs a year ago
- Profit growth
- +14.1%
- Latest quarter vs a year ago
- Price to sales
- 4.55
- EV/EBITDA 22.9
Strengths and risks
Strengths
- Practically debt-free.
Risks to check
- P/E of 34.0 against an industry P/E of 22.1.
About Sirca Paints India
Sirca Paints India Limited manufactures and sells wood coatings and decorative paints in India and internationally. The company offers wood, metal, glass, polyester, metallic, specialty, protective, polyurethane polish (PU), and nitrocellulose (NC) coatings; wall paints; solid color finishes and wall textures; acrylic PUs and UVs; enamels; thinners, reducers, retarders, paint removers, and interior finishing products; and melamine and economical PU…
- Headquarters
- New Delhi
- Employees
- 724
- Sector
- Basic Materials
- ISIN
- INE792Z01011
- Website
- sircapaints.com
Price range
- Avg volume (3M)
- 4 L
- 1-year return
- minus 18.9%
- From 52-week high
- minus 24.6%
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% |
| SIRCASirca Paints India | 406.30 | minus 1.05% | 2,313 | 34.0 | 22.6 | 17.9% | 16.6% | 0.07 | 22.5% | minus 18.9% |
| 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 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 114 | 131 | 113 | 134 | 130 | |
| 91.5 | 104 | 89.8 | 109 | 106 | |
| 22.7 | 27.4 | 23 | 25.7 | 24.2 | |
| 19.9% | 20.9% | 20.4% | 19.1% | 18.6% | |
| 0.2 | 1 | 1.4 | 1.2 | 1.6 | |
| 1.3 | 1.4 | 1.3 | 1 | 1 | |
| 2.5 | 2.6 | 2.7 | 2.9 | 2.7 | |
| 19.2 | 24.5 | 20.4 | 23 | 22.1 | |
| 26.0% | 26.0% | 26.4% | 23.1% | 26.8% | |
| 14.2 | 18.1 | 15 | 17.7 | 16.2 | |
| 2.59 | 3.24 | 2.69 | 3.16 | 2.85 |
Profit & loss
- Sales CAGR 3Y
- +22.5%
- Profit CAGR 3Y
- +12.1%
- EPS CAGR 3Y
- +11.4%
- ROE
- 15.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 268 | 312 | 374 | 492 | |
| – | +16.4% | +19.9% | +31.8% | |
| 238 | 284 | 306 | 393 | |
| 29.3 | 27.3 | 68 | 99.7 | |
| 10.9% | 8.8% | 18.2% | 20.2% | |
| 37.5 | 47.8 | 4.9 | 3.2 | |
| 0 | 0 | 0.2 | 4.9 | |
| 4.4 | 6 | 7 | 10.7 | |
| −0.3 | −0.1 | −0.3 | −0.2 | |
| 62.1 | 69.1 | 65.5 | 87.1 | |
| 25.8% | 25.5% | 25.1% | 25.3% | |
| 46.1 | 51.4 | 49.1 | 65 | |
| – | +11.6% | minus 4.6% | +32.5% | |
| 8.41 | 9.38 | 8.95 | 11.63 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 27.4 | 54.8 | 54.8 | 56.8 | |
| 238 | 254 | 295 | 418 | |
| – | – | 50 | 43.9 | |
| 46.5 | 42.2 | 51.1 | 69.9 | |
| 312 | 351 | 451 | 589 | |
| 57.4 | 61.2 | 63.6 | 85.6 | |
| 8 | 8.2 | 6.8 | 18.7 | |
| – | 0.2 | 0.2 | 7.4 | |
| 86 | 114 | 56.2 | 108 | |
| 161 | 168 | 324 | 369 | |
| 312 | 351 | 451 | 589 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −18.7 | 42 | 54.3 | 44.4 | |
| 9.4 | −21.4 | −45.3 | −69.7 | |
| −5.5 | −8.2 | −8.4 | 38.8 | |
| −14.8 | 12.3 | 0.5 | 13.5 | |
| −10.1 | −12.5 | −107 | −27.8 | |
| −28.8 | 29.5 | −52.7 | 16.6 | |
| −5.5 | −8.2 | −8.2 | −8.2 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 3.9% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.