Sirca Paints India Ltd. (IN:SIRCA)
:SIRCA
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Sirca Paints India Ltd.
(SIRCA)
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Rating:62Neutral
Price Target:
₹449.00
▼(-4.40% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by strong financial performance (robust growth, healthy margins, and low leverage), but it is held back by weaker cash-flow consistency. Technical indicators add further pressure due to a downtrend versus major moving averages and negative MACD, while valuation remains only moderate given the high P/E and low dividend yield.
Positive Factors
Revenue Growth
Sustained multi-year revenue expansion indicates durable demand for wood-coating products and successful scaling of distributor-led channels. Such growth supports operating leverage, broader product adoption across the furniture/interior ecosystem and strengthens long-term competitive positioning.
Negative Factors
Cash-flow Quality
Inconsistent operating cash conversion and volatile free cash flow suggest working-capital swings or lumpy investments. That reduces predictability for dividends, buybacks or debt repayment and raises refinancing or liquidity risk during stress periods despite reported earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained multi-year revenue expansion indicates durable demand for wood-coating products and successful scaling of distributor-led channels. Such growth supports operating leverage, broader product adoption across the furniture/interior ecosystem and strengthens long-term competitive positioning.
Read all positive factors
Sirca Paints India Ltd. (SIRCA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹23.88B
Dividend Yield0.3%
Average Volume (3M)33.77K
Price to Earnings (P/E)34.5
Beta (1Y)0.90
Revenue Growth31.68%
EPS Growth30.03%
CountryIN
Employees515
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)10.49
Shares Outstanding56,792,800
10 Day Avg. Volume26,757
30 Day Avg. Volume33,770
Financial Highlights & Ratios
PEG Ratio1.15
Price to Book (P/B)4.72
Price to Sales (P/S)4.56
P/FCF Ratio146.49
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)15.19
Revenue Forecast (FY)₹6.32B
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
82
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.35B | 4.92B | 3.74B | 3.12B | 2.68B | 2.00B |
| Gross Profit | 2.05B | 1.64B | 1.80B | 1.04B | 1.20B | 755.74M |
| EBITDA | 884.90M | 988.41M | 726.04M | 750.35M | 665.53M | 421.54M |
| Net Income | 578.71M | 650.18M | 490.57M | 514.34M | 461.07M | 277.23M |
Balance Sheet | ||||||
| Total Assets | 5.60B | 5.89B | 4.51B | 3.51B | 3.12B | 2.62B |
| Cash, Cash Equivalents and Short-Term Investments | 1.10B | 1.08B | 562.03M | 1.14B | 860.00M | 826.03M |
| Total Debt | 452.25M | 323.19M | 500.00M | 20.00K | 3.29M | 0.00 |
| Total Liabilities | 1.17B | 1.14B | 1.01B | 422.14M | 465.14M | 372.20M |
| Stockholders Equity | 4.43B | 4.75B | 3.50B | 3.09B | 2.65B | 2.25B |
Cash Flow | ||||||
| Free Cash Flow | 70.14M | 153.17M | -526.68M | 199.21M | -287.79M | 130.15M |
| Operating Cash Flow | 91.01M | 431.31M | 542.65M | 323.96M | -187.00M | 351.59M |
| Investing Cash Flow | -548.12M | -733.61M | -453.25M | -214.14M | 93.76M | -110.55M |
| Financing Cash Flow | 541.08M | 437.28M | -83.95M | -82.42M | -55.20M | -173.85M |
Sirca Paints India Ltd. Technical Analysis
Negative
469.65
Price Trends
426.82
Negative
449.55
Negative
467.63
Negative
Market Momentum
-2.95
Positive
44.14
Neutral
25.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SIRCA, the sentiment is Negative. The current price of 469.65 is above the 20-day moving average (MA) of 426.21, above the 50-day MA of 426.82, and above the 200-day MA of 467.63, indicating a bearish trend. The MACD of -2.95 indicates Positive momentum. The RSI at 44.14 is Neutral, neither overbought nor oversold. The STOCH value of 25.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹583.99B | 42.40 | ― | 0.70% | 2.91% | -4.56% | |
69 Neutral | ₹47.83B | 37.48 | ― | 0.30% | 4.80% | 2.29% | |
69 Neutral | ₹176.25B | 30.08 | ― | 1.11% | 2.93% | -48.42% | |
63 Neutral | ₹2.53T | 62.63 | ― | 0.89% | 1.22% | -9.12% | |
62 Neutral | ₹23.88B | 34.51 | ― | 0.30% | 31.68% | 30.03% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
39 Underperform | ₹4.19B | -4.84 | ― | ― | 5.47% | 30.99% |
* Basic Materials Sector Average
IN:SIRCA
Sirca Paints India Ltd.
420.70
82.95
24.56%
IN:ASIANPAINT
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2,656.40
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IN:BERGEPAINT
Berger Paints India Limited
506.10
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IN:INDIGOPNTS
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995.30
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IN:KANSAINER
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218.45
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IN:SHALPAINTS
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-50.46%
Sirca Paints India Ltd. Corporate Events
Sirca Paints Publishes Q4 and FY 2025-26 Financial Results in Newspapers
May 9, 2026
Sirca Paints India Ltd. has published its financial results for the quarter and year ended March 31, 2026, in English and Hindi newspapers, in line with Regulation 47 of SEBI’s Listing Obligations and Disclosure Requirements. The company inf...
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 ...
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.