Shalimar Paints Ltd (SHALPAINTS) AI Stock Analysis

• Market Cap: ₹6.96B
• Dividend Yield: N/A
• Average Volume (3M): 36.70K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: 16.10%
• EPS Growth: 26.30%
• Country: IN
• Employees: 896
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): -1.99
• Shares Outstanding: 83,711,180
• 10 Day Avg. Volume: 89,275
• 30 Day Avg. Volume: 36,698
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹76.00
• Price Target Upside: -1.14% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 44 Neutral
• Price Target: ₹76.00 ▼(-1.14% Downside)

Shalimar Paints Ltd's overall stock score is primarily impacted by its financial performance, which is weak due to negative profitability and cash flow issues. The technical analysis provides a neutral outlook, while the valuation is unattractive due to a negative P/E ratio. The lack of earnings call and corporate events data means these factors do not influence the score.

Shalimar Paints Ltd Business Overview & Revenue Model

Company Description

Shalimar Paints Limited engages in manufacturing, selling, and distributing paints and coatings in India. The company offers decorative paints for interior and exterior surfaces; industrial paints; marine paints, including antifouling paints; packaging coatings for metal decoration; and emulsions, distempers, primers, putty, enamels, varnishes, and lacquers. The company markets its products under the Weather Pro, Xtra Tough Premier, Shaktiman, Signature, Stay Clean, Superlac Advance, No 1 Silk and Master, and NO.1 Distemper brand names. The company was formerly known as Shalimar Paint Colour & Varnish Co. Ltd. and changed its name to Shalimar Paints Limited in September 1963. Shalimar Paints Limited was incorporated in 1902 and is based in Gurugram, India.

How the Company Makes Money

Shalimar Paints Ltd generates revenue primarily through the sale of its paints and coatings products. The company operates a well-established distribution network that includes dealers, retailers, and direct sales to large-scale projects. The company's key revenue streams include decorative paints, which are used in residential and commercial buildings, and industrial coatings for sectors such as automotive, marine, and infrastructure. In addition to product sales, Shalimar Paints may engage in strategic partnerships with real estate developers and contractors to secure bulk orders, contributing to its earnings. The company also invests in marketing and brand-building activities to strengthen its market presence and drive sales.

Shalimar Paints Ltd Financial Statement Overview

Summary

Shalimar Paints Ltd is experiencing financial difficulties characterized by negative profitability metrics and cash flow challenges. While there is some growth in revenue, the company struggles with maintaining positive margins and efficient cash management. The balance sheet shows a balance in leveraging, yet the overall financial health requires improvement to ensure long-term stability.

Income Statement

Shalimar Paints Ltd has shown inconsistent revenue growth with a recent increase from 5306M to 5990M (12.9% growth). However, profitability remains a concern with negative net income and declining gross profit margins (from 25.9% to 11.4% in the latest period). Both EBIT and EBITDA margins are negative, indicating operational struggles.

Balance Sheet

The company's debt-to-equity ratio is manageable, reflecting a balance between debt and equity. However, stockholders' equity has decreased, leading to a lower ROE and a slight increase in liabilities. The equity ratio is relatively stable at around 44.8%, suggesting a mildly leveraged position.

Cash Flow

The cash flow situation is challenging, with negative free cash flow and operating cash flow. The free cash flow has deteriorated significantly, indicating cash management issues. The ratios of operating cash flow to net income and free cash flow to net income are unfavorable, highlighting inefficiencies in cash utilization.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	5.65B	5.99B	5.31B	4.86B	3.24B	3.56B
Gross Profit	955.50M	686.00M	1.38B	382.70M	1.00B	861.59M
EBITDA	-687.90M	-468.40M	-487.30M	-75.40M	65.40M	-286.70M
Net Income	-970.60M	-801.60M	-738.50M	-361.50M	-498.63M	-603.51M
Balance Sheet
Total Assets	0.00	7.02B	6.70B	6.24B	5.06B	6.47B
Cash, Cash Equivalents and Short-Term Investments	219.20M	567.60M	1.03B	234.20M	76.74M	1.70B
Total Debt	0.00	1.64B	1.06B	1.40B	1.31B	1.68B
Total Liabilities	-3.47B	3.87B	2.76B	2.71B	2.83B	2.96B
Stockholders Equity	3.47B	3.15B	3.93B	3.53B	2.23B	3.51B
Cash Flow
Free Cash Flow	0.00	-1.05B	-395.30M	-591.30M	138.60M	-648.70M
Operating Cash Flow	0.00	-723.20M	176.80M	-479.30M	159.02M	-618.05M
Investing Cash Flow	0.00	-178.40M	-513.50M	-837.80M	-49.41M	-57.49M
Financing Cash Flow	0.00	444.20M	628.10M	-68.70M	-111.18M	2.25B

Shalimar Paints Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 76.88
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHALPAINTS, the sentiment is Negative. The current price of 76.88 is above the 20-day moving average (MA) of 76.14, below the 50-day MA of 78.33, and below the 200-day MA of 102.90, indicating a neutral trend. The MACD of 0.72 indicates Negative momentum. The RSI at 48.62 is Neutral, neither overbought nor oversold. The STOCH value of 36.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SHALPAINTS.

Shalimar Paints Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BHAGERIA	68 Neutral	₹7.76B	16.98	7.24%	0.84%	25.56%	92.57%
SHREEPUSHK	67 Neutral	₹14.13B	21.16	10.88%	0.46%	16.35%	55.49%
DECCANCE	64 Neutral	₹15.22B	75.85	1.04%	0.06%	-35.17%	-22.63%
SHIVALIK	54 Neutral	₹6.89B	45.41	3.12%	0.11%	15.29%	25.94%
BODALCHEM	52 Neutral	₹7.87B	26.93	1.67%	―	19.75%	845.31%
SHALPAINTS	44 Neutral	₹6.96B	―	―	―	16.10%	26.30%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%