Shalimar Paints Ltd (IN:SHALPAINTS)
:SHALPAINTS
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Shalimar Paints Ltd
(SHALPAINTS)
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Rating:39Underperform
Price Target:
₹47.00
▼(-37.64% Downside)
Action:ReiteratedDate:04/02/26
The score is primarily held down by weak financial performance—loss-making operations, deteriorating margins, and negative operating/free cash flow. Technicals add further pressure as the price is well below key moving averages with bearish momentum, while valuation offers limited support because the company is unprofitable and dividend yield data is unavailable.
Positive Factors
Revenue Growth
A near 13% revenue uptick indicates rising product demand and successful market traction. Over 2-6 months, sustained top-line growth provides scale to absorb fixed costs, supports distributor relationships, and creates runway to restore margins if management tightens cost controls and improves product mix.
Negative Factors
Profitability Deterioration
A sharp gross margin decline and sustained net losses materially weaken the firm's ability to self-fund growth or cover fixed costs. Over months, this erodes retained earnings, pressures supplier/customer terms, and requires either structural margin remediation or external financing to restore sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A near 13% revenue uptick indicates rising product demand and successful market traction. Over 2-6 months, sustained top-line growth provides scale to absorb fixed costs, supports distributor relationships, and creates runway to restore margins if management tightens cost controls and improves product mix.
Read all positive factors
Shalimar Paints Ltd (SHALPAINTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.16B
Dividend YieldN/A
Average Volume (3M)40.24K
Price to Earnings (P/E)―
Beta (1Y)1.13
Revenue Growth8.89%
EPS Growth24.00%
CountryIN
Employees896
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-3.18
Shares Outstanding83,711,180
10 Day Avg. Volume15,769
30 Day Avg. Volume40,240
Financial Highlights & Ratios
PEG Ratio-25.78
Price to Book (P/B)2.76
Price to Sales (P/S)1.45
P/FCF Ratio-8.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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; pack...
How the Company Makes Money
The company primarily makes money by selling paints and coatings that it manufactures. Key revenue streams include (1) decorative paints (e.g., interior and exterior wall finishes and related building coatings) sold for residential, commercial, an...
Shalimar Paints Ltd Financial Statement Overview
Summary
Income Statement
40
Negative
Balance Sheet
45
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.13B | 5.99B | 5.35B | 4.82B | 3.58B | 3.24B |
| Gross Profit | 1.61B | 686.00M | 1.42B | 1.23B | 861.59M | 1.00B |
| EBITDA | -240.10M | -468.40M | -487.30M | -75.40M | -286.70M | 65.40M |
| Net Income | -643.10M | -801.60M | -738.50M | -361.50M | -603.51M | -498.63M |
Balance Sheet | ||||||
| Total Assets | 6.88B | 7.02B | 6.70B | 6.24B | 6.47B | 5.06B |
| Cash, Cash Equivalents and Short-Term Investments | 582.90M | 533.10M | 1.03B | 1.06B | 1.62B | 76.74M |
| Total Debt | 1.90B | 1.64B | 1.06B | 1.40B | 1.68B | 1.31B |
| Total Liabilities | 4.03B | 3.87B | 2.76B | 2.71B | 2.96B | 2.83B |
| Stockholders Equity | 2.84B | 3.15B | 3.93B | 3.53B | 3.51B | 2.23B |
Cash Flow | ||||||
| Free Cash Flow | -135.60M | -1.05B | -395.30M | -591.30M | -648.70M | 138.60M |
| Operating Cash Flow | -27.80M | -723.20M | 176.80M | -479.30M | -618.05M | 159.02M |
| Investing Cash Flow | -104.60M | -178.40M | -513.50M | -837.80M | -57.49M | -49.41M |
| Financing Cash Flow | 131.00M | 444.20M | 628.10M | -68.70M | 2.25B | -111.18M |
Shalimar Paints Ltd Technical Analysis
Neutral
75.37
Price Trends
53.81
Negative
59.49
Negative
71.06
Negative
Market Momentum
-2.37
Negative
53.81
Neutral
95.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHALPAINTS, the sentiment is Neutral. The current price of 75.37 is above the 20-day moving average (MA) of 45.50, above the 50-day MA of 53.81, and above the 200-day MA of 71.06, indicating a neutral trend. The MACD of -2.37 indicates Negative momentum. The RSI at 53.81 is Neutral, neither overbought nor oversold. The STOCH value of 95.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SHALPAINTS.
Shalimar Paints Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹6.71B | 17.61 | ― | 0.81% | 33.39% | 85.08% | |
62 Neutral | ₹11.49B | 17.66 | ― | 0.52% | 28.67% | 50.12% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | ₹8.13B | 697.51 | ― | ― | 15.56% | 2114.71% | |
54 Neutral | ₹4.08B | 51.21 | ― | 0.13% | 13.17% | -0.02% | |
48 Neutral | ₹9.11B | -467.16 | ― | 0.08% | -28.32% | 93.44% | |
39 Underperform | ₹4.16B | -4.84 | ― | ― | 8.89% | 24.00% |
* Basic Materials Sector Average
IN:SHALPAINTS
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Shalimar Paints Ltd Corporate Events
Shalimar Paints Confirms SEBI Compliance on Share Dematerialisation for Q4 FY26
Apr 4, 2026
Shalimar Paints Ltd has filed a compliance certificate with Indian stock exchanges for the quarter ended 31 March 2026, confirming adherence to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Its registrar and share...
Shalimar Paints Closes Trading Window Ahead of FY26 Results
Mar 30, 2026
Shalimar Paints Ltd has announced that its trading window for designated persons will be closed from April 1, 2026 until 48 hours after the announcement of its audited standalone and consolidated financial results for the quarter and financial yea...
Shalimar Paints Seeks Stock Exchange Nod to Reclassify Certain Promoter Group Shareholders as Public
Jan 17, 2026
Shalimar Paints has informed the stock exchanges that, following board approval on January 13, 2026, it has submitted a formal application on January 17, 2026 to reclassify certain shareholders from the promoter/promoter group category to the publ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.