Shalimar Paints Ltd (SHALPAINTS) AI Stock Analysis

• Market Cap: ₹6.12B
• Dividend Yield: N/A
• Average Volume (3M): 11.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.62
• Revenue Growth: 16.10%
• EPS Growth: 8.42%
• Country: IN
• Employees: 896
• Sector: Basic Materials
• Sector Strength: 62
• Industry: Chemicals - Specialty
• EPS (TTM): -1.99
• Shares Outstanding: 83,711,180
• 10 Day Avg. Volume: 9,698
• 30 Day Avg. Volume: 11,329
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹79.00
• Price Target Upside: 8.10% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1

• Rating: 38 Underperform
• Price Target: ₹79.00 ▲(8.10% Upside)

Shalimar Paints Ltd is facing significant financial and technical challenges. The company's negative profitability metrics and cash flow inefficiencies are primary concerns, compounded by the bearish technical indicators. Additionally, the negative P/E ratio and lack of dividend yield further weigh down the valuation outlook. The absence of positive earnings call insights or corporate events leaves no immediate catalysts for improvement.

Shalimar Paints Ltd Business Overview & Revenue Model

Company Description

Shalimar Paints Ltd (SHALPAINTS) is a prominent Indian company engaged in the manufacturing and distribution of paints and coatings. Established in 1902, the company operates in the paints and coatings sector, providing a wide range of products including decorative paints, industrial coatings, and protective paints. With a rich heritage and diverse product portfolio, Shalimar Paints serves both residential and commercial markets, catering to the needs of homeowners, architects, and industries across 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 facing financial difficulties with negative profitability and cash flow issues. Revenue growth is present but overshadowed by declining margins and inefficient cash management. The debt-to-equity ratio is manageable, yet overall financial health is concerning.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2022
Income Statement
Total Revenue	5.99B	5.31B	4.86B	3.24B	3.56B
Gross Profit	686.00M	1.38B	382.70M	1.00B	861.59M
EBITDA	-468.40M	-487.30M	-75.40M	65.40M	-286.70M
Net Income	-801.60M	-738.50M	-361.50M	-498.63M	-603.51M
Balance Sheet
Total Assets	7.02B	6.70B	6.24B	5.06B	6.47B
Cash, Cash Equivalents and Short-Term Investments	454.70M	1.03B	234.20M	76.74M	1.70B
Total Debt	1.64B	1.06B	1.40B	1.31B	1.68B
Total Liabilities	3.87B	2.76B	2.71B	2.83B	2.96B
Stockholders Equity	3.15B	3.93B	3.53B	2.23B	3.51B
Cash Flow
Free Cash Flow	-1.05B	-395.30M	-591.30M	138.60M	-648.70M
Operating Cash Flow	-723.20M	176.80M	-479.30M	159.02M	-618.05M
Investing Cash Flow	-178.40M	-513.50M	-837.80M	-49.41M	-57.49M
Financing Cash Flow	444.20M	628.10M	-68.70M	-111.18M	2.25B

Shalimar Paints Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 73.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• 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 73.08 is below the 20-day moving average (MA) of 76.56, below the 50-day MA of 88.63, and below the 200-day MA of 106.92, indicating a bearish trend. The MACD of -5.06 indicates Negative momentum. The RSI at 28.10 is Positive, neither overbought nor oversold. The STOCH value of 38.40 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
SHREEPUSHK	65 Neutral	₹10.85B	16.23		0.45%	16.35%	55.54%
BHAGERIA	64 Neutral	₹7.80B	17.06		0.84%	25.56%	92.57%
DECCANCE	64 Neutral	₹14.87B	74.12		0.28%	-35.17%	-22.61%
Sector *	61 Neutral	$10.29B	6.41	0.58%	2.90%	3.32%	-39.60%
SHIVALIK	54 Neutral	₹7.82B	51.73		0.10%	15.29%	25.48%
BODALCHEM	52 Neutral	₹8.42B	28.84		0.17%	19.75%	844.66%
SHALPAINTS	38 Underperform	₹6.12B	―		―	16.10%	8.42%