Sirca Paints India Ltd. (IN:SIRCA)
:SIRCA
Top Page
Sirca Paints India Ltd.
(SIRCA)
Select Model
Select Model
Rating:64Neutral
Price Target:
₹453.00
▼(-3.55% Downside)
Action:N/ADate:10/03/25
The overall stock score of 64.1 reflects strong financial performance with revenue growth and a solid balance sheet, but challenges in profitability and cash flow management. Technical indicators show positive momentum, though valuation concerns arise from a high P/E ratio and low dividend yield.
Positive Factors
Sustained Revenue Growth
High revenue growth (reported ~29%) reflects durable demand for wood coatings and expanding market penetration via distributor/dealer channels. Product-led, repeat-purchase nature of coatings drives recurring sales, supporting revenue expansion for several quarters absent structural market shifts.
Negative Factors
Falling Net Profitability
A decline in net margin from 16.5% to 13.1% signals rising operating expenses, non-operating costs, or margin compression. If persistent, this erodes retained earnings and ROE, constraining ability to fund growth internally and weakening long-term profitability resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
High revenue growth (reported ~29%) reflects durable demand for wood coatings and expanding market penetration via distributor/dealer channels. Product-led, repeat-purchase nature of coatings drives recurring sales, supporting revenue expansion for several quarters absent structural market shifts.
Read all positive factors
Sirca Paints India Ltd. (SIRCA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹24.01B
Dividend Yield0.3%
Average Volume (3M)33.77K
Price to Earnings (P/E)46.0
Beta (1Y)0.96
Revenue Growth28.27%
EPS Growth23.68%
CountryIN
Employees515
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)2.65
Shares Outstanding56,792,800
10 Day Avg. Volume26,757
30 Day Avg. Volume33,770
Financial Highlights & Ratios
PEG Ratio-6.04
Price to Book (P/B)3.89
Price to Sales (P/S)3.63
P/FCF Ratio-25.79
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)15
Revenue Forecast (FY)₹5.60B
Sirca Paints India Ltd. Business Overview & Revenue Model
Company Description
Sirca Paints India Limited engages in the import and distribution of wood, metal, and glass coatings in India. The company provides wood coatings including wood stains, polyurethane polishes, polyester products, acrylic finishes, UV products, wood...
How the Company Makes Money
SIRCA makes money primarily by selling wood-coating and surface-finishing products in India. Its revenue model is product-led and channel-driven: it sells branded coatings and allied materials to a network of distributors/dealers, who then sell on...
Sirca Paints India Ltd. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
80
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.35B | 3.74B | 3.12B | 2.68B | 2.00B | 1.43B |
| Gross Profit | 2.05B | 1.80B | 1.04B | 1.20B | 755.74M | 533.78M |
| EBITDA | 884.90M | 726.04M | 750.35M | 665.53M | 421.54M | 263.18M |
| Net Income | 578.71M | 490.57M | 514.34M | 461.07M | 277.23M | 165.82M |
Balance Sheet | ||||||
| Total Assets | 5.60B | 4.51B | 3.51B | 3.12B | 2.62B | 2.55B |
| Cash, Cash Equivalents and Short-Term Investments | 1.10B | 562.03M | 1.14B | 860.00M | 826.03M | 788.73M |
| Total Debt | 452.25M | 500.00M | 20.00K | 3.29M | 0.00 | 131.96M |
| Total Liabilities | 1.17B | 1.01B | 422.14M | 465.14M | 372.20M | 531.55M |
| Stockholders Equity | 4.43B | 3.50B | 3.09B | 2.65B | 2.25B | 2.02B |
Cash Flow | ||||||
| Free Cash Flow | 70.14M | -526.68M | 199.21M | -287.79M | 130.15M | 150.87M |
| Operating Cash Flow | 91.01M | 542.65M | 323.96M | -187.00M | 351.59M | 192.05M |
| Investing Cash Flow | -548.12M | -453.25M | -214.14M | 93.76M | -110.55M | 148.37M |
| Financing Cash Flow | 541.08M | -83.95M | -82.42M | -55.20M | -173.85M | -1.04M |
Sirca Paints India Ltd. Technical Analysis
Neutral
469.65
Price Trends
446.64
Negative
470.67
Negative
462.84
Negative
Market Momentum
-9.14
Negative
47.98
Neutral
41.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SIRCA, the sentiment is Neutral. The current price of 469.65 is above the 20-day moving average (MA) of 420.29, above the 50-day MA of 446.64, and above the 200-day MA of 462.84, indicating a neutral trend. The MACD of -9.14 indicates Negative momentum. The RSI at 47.98 is Neutral, neither overbought nor oversold. The STOCH value of 41.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SIRCA.
Sirca Paints India Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹24.01B | 45.97 | ― | 0.30% | 28.27% | 23.68% | |
63 Neutral | ₹17.27B | 8.72 | ― | 1.00% | 0.25% | 452.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹9.23B | 3.95 | ― | 0.82% | -2.41% | 178.19% | |
59 Neutral | ₹18.09B | 35.49 | ― | 0.67% | 15.51% | 7.88% | |
40 Underperform | ₹10.73B | 127.23 | ― | ― | 3.38% | 0.68% | |
39 Underperform | ₹4.16B | -4.84 | ― | ― | 8.89% | 24.00% |
* Basic Materials Sector Average
IN:SIRCA
Sirca Paints India Ltd.
422.70
164.09
63.45%
IN:INDIANHUME
Indian Hume Pipe Co. Ltd.
327.85
-55.55
-14.49%
IN:MADRASFERT
Madras Fertilizers Ltd
66.58
-7.31
-9.89%
IN:MANALIPETC
Manali Petrochemicals Limited
53.65
0.12
0.22%
IN:MOLDTKPAC
Mold Tek Packaging Ltd
544.45
73.04
15.49%
IN:SHALPAINTS
Shalimar Paints Ltd
49.64
-57.88
-53.83%
Sirca Paints India Ltd. Corporate Events
Sirca Paints Updates Exchanges on Analyst Plant Visit and Regulatory Compliance
Mar 19, 2026
Sirca Paints India Ltd. informed the stock exchanges that a scheduled plant visit for analysts and institutional investors was held at its Nathupur, Sonipat manufacturing unit on March 19, 2026, between 12:00 p.m. and 4:00 p.m. The visit was organ...
Sirca Paints Schedules Mumbai Non-Deal Roadshow With Investors and Analysts
Mar 10, 2026
Sirca Paints India Ltd. has announced that its management will participate in a non-deal roadshow hosted by Choice Institutional Equities in Mumbai on March 13, 2026, holding one-on-one and group meetings with investors and analysts in a physical ...
Sirca Paints Publishes Q3 FY 2025-26 Financial Results in Newspapers
Feb 1, 2026
Sirca Paints India Ltd. has informed the stock exchanges that it has published its financial results for the third quarter and nine months ended 31 December 2025 in English and Hindi newspapers, in line with the disclosure requirements under SEBI&...
Sirca Paints Confirms No Deviation in Use of Preferential Issue Proceeds
Jan 31, 2026
Sirca Paints India Limited has reported that there is no deviation or variation in the utilisation of proceeds from its preferential issue of approximately Rs 75.29 crore raised on 11 September 2025. For the quarter ended 31 December 2025, the com...
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.