About
Shalimar Paints Limited engages in the manufacturing and marketing of paints and coatings in India, Nepal, the United Arab Emirates, Bhutan, Seychelles, and internationally. The company offers decorative paints; and industrial paints, including protective, can, and pipeline coatings. It also provides apply supply services; and services in heavy machinery, truck body, agricultural machinery, frp components, auto parts, metal door, construction equipment, industrial equipment, and others. In addition, the company offers interior, exterior, metal, wood, floor, waterproofing paint products; ancillary, such as magic brush, magic roller, magic dry sandpaper, magic wet and dry sandpaper, magic masking tape, and magic spray paint; and protective, packaging, and marine coatings. It offers its products under the Magic, Mela, Color Space, Hero, Zero Damp, Superlac, and Shalimar brand names. Shalimar Paints Limited was incorporated in 1902 and is based in Thane, India. Shalimar Paints Limited operates as a subsidiary of Hella Infra Market Limited.
Key Metrics
as of Sep 2026Market Cap711 Cr
P/E—
Div Yield0.00 %
Book Value₹30.00
52w High₹96.70
52w Low₹34.40
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 138.00 | 156.00 | 131.00 | 134.00 | 155.00 | 178.00 | 148.00 | 145.00 | 128.00 | 144.00 | 146.00 | 119.00 | 126.00 |
| Expenses | 150.00 | 154.00 | 142.00 | 140.00 | 162.00 | 185.00 | 164.00 | 158.00 | 150.00 | 167.00 | 153.00 | 139.00 | 130.00 |
| Operating Profit | -12.00 | 2.00 | -11.00 | -6.00 | -8.00 | -7.00 | -16.00 | -13.00 | -21.00 | -22.00 | -7.00 | -20.00 | -5.00 |
| OPM % | -9.00 | 1.30 | -8.00 | -4.70 | -4.90 | -4.10 | -11.00 | -9.00 | -16.00 | -16.00 | -4.80 | -17.00 | -3.70 |
| Other Income | 1.00 | 1.00 | -4.00 | 3.00 | 2.00 | 7.00 | 1.00 | 1.00 | 1.00 | 3.00 | 2.00 | 2.00 | 2.00 |
| Depreciation | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 3.00 | 3.00 |
| Interest | 5.00 | 6.00 | 7.00 | 6.00 | 6.00 | 5.00 | 5.00 | 4.00 | 3.00 | 2.00 | 2.00 | 4.00 | 4.00 |
| Profit before tax | -21.00 | -8.00 | -27.00 | -14.00 | -17.00 | -10.00 | -25.00 | -20.00 | -27.00 | -26.00 | -12.00 | -26.00 | -10.00 |
| Tax % | 0.00 | -6.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | -21.00 | -7.00 | -27.00 | -14.00 | -17.00 | -10.00 | -25.00 | -20.00 | -27.00 | -26.00 | -12.00 | -26.00 | -10.00 |
| EPS in Rs | -2.54 | -0.88 | -3.18 | -1.69 | -2.00 | -1.14 | -2.93 | -2.34 | -3.23 | -3.16 | -1.38 | -3.55 | -1.42 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 576.00 | 600.00 | 535.00 | 484.00 | 358.00 | 326.00 | 344.00 | 288.00 | 271.00 | 350.00 | 384.00 | 416.00 |
| Expenses | 598.00 | 657.00 | 589.00 | 499.00 | 381.00 | 322.00 | 377.00 | 349.00 | 305.00 | 335.00 | 354.00 | 407.00 |
| Operating Profit | -22.00 | -58.00 | -54.00 | -15.00 | -22.00 | 4.00 | -34.00 | -61.00 | -34.00 | 14.00 | 30.00 | 9.00 |
| OPM % | -3.90 | -10.00 | -10.00 | -3.00 | -6.00 | 1.10 | -10.00 | -21.00 | -13.00 | 4.10 | 8.00 | 2.10 |
| Other Income | 2.00 | 10.00 | 8.00 | 7.00 | -3.00 | 5.00 | 8.00 | -14.00 | 1.00 | 1.00 | 1.00 | 2.00 |
| Interest | 25.00 | 18.00 | 13.00 | 16.00 | 22.00 | 19.00 | 20.00 | 25.00 | 26.00 | 23.00 | 22.00 | 21.00 |
| Depreciation | 20.00 | 16.00 | 15.00 | 13.00 | 13.00 | 13.00 | 11.00 | 9.00 | 8.00 | 8.00 | 5.00 | 5.00 |
| Profit before tax | -65.00 | -81.00 | -74.00 | -36.00 | -61.00 | -24.00 | -56.00 | -109.00 | -67.00 | -15.00 | 4.00 | -15.00 |
| Tax % | -1.00 | 0.00 | 0.00 | 0.00 | -1.00 | 110.00 | -32.00 | -25.00 | -32.00 | -36.00 | -23.00 | -29.00 |
| Net Profit | -65.00 | -81.00 | -74.00 | -36.00 | -60.00 | -50.00 | -38.00 | -82.00 | -46.00 | -10.00 | 5.00 | -11.00 |
| EPS in Rs | -7.76 | -9.70 | -8.82 | -5.01 | -8.36 | -9.18 | -7.03 | -15.25 | -8.10 | -1.72 | 0.93 | -1.87 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17.00 | 17.00 | 17.00 | 14.00 | 14.00 | 11.00 | 11.00 | 11.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| Reserves | 234.00 | 298.00 | 376.00 | 338.00 | 336.00 | 212.00 | 262.00 | 295.00 | 134.00 | 180.00 | 62.00 | 58.00 |
| Borrowings | 165.00 | 164.00 | 106.00 | 140.00 | 168.00 | 131.00 | 121.00 | 154.00 | 179.00 | 171.00 | 137.00 | 130.00 |
| Other Liabilities | 225.00 | 224.00 | 170.00 | 134.00 | 128.00 | 152.00 | 142.00 | 135.00 | 177.00 | 180.00 | 188.00 | 191.00 |
| Total Liabilities | 641.00 | 702.00 | 670.00 | 627.00 | 647.00 | 506.00 | 536.00 | 594.00 | 494.00 | 535.00 | 391.00 | 382.00 |
| Fixed Assets | 300.00 | 303.00 | 275.00 | 272.00 | 276.00 | 283.00 | 295.00 | 246.00 | 250.00 | 222.00 | 75.00 | 76.00 |
| CWIP | 0.00 | 27.00 | 35.00 | 2.00 | 0.00 | 0.00 | 0.00 | 24.00 | 1.00 | 14.00 | 6.00 | 1.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 | 0.00 |
| Other Assets | 341.00 | 372.00 | 360.00 | 353.00 | 371.00 | 222.00 | 241.00 | 325.00 | 244.00 | 296.00 | 311.00 | 305.00 |
| Total Assets | 641.00 | 702.00 | 670.00 | 627.00 | 647.00 | 506.00 | 536.00 | 594.00 | 494.00 | 535.00 | 391.00 | 382.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 23.00 | -59.00 | 18.00 | -48.00 | -62.00 | 16.00 | -9.00 | -94.00 | 36.00 | 34.00 | 38.00 | 38.00 |
| Cash from Investing Activity | -1.00 | -16.00 | -51.00 | -84.00 | -6.00 | -5.00 | -28.00 | -34.00 | -11.00 | -16.00 | -7.00 | -26.00 |
| Cash from Financing Activity | -25.00 | 29.00 | 44.00 | -7.00 | 225.00 | -11.00 | -46.00 | 198.00 | -18.00 | -19.00 | -23.00 | -16.00 |
| Net Cash Flow | -2.00 | -46.00 | 11.00 | -139.00 | 157.00 | 0.00 | -83.00 | 70.00 | 7.00 | -1.00 | 8.00 | -3.00 |
| Free Cash Flow | 13.00 | -84.00 | -38.00 | -59.00 | -65.00 | 14.00 | -42.00 | -127.00 | 22.00 | 24.00 | 29.00 | 11.00 |
| CFO/OP % | -101.00 | 101.00 | -32.00 | 322.00 | 275.00 | 443.00 | 28.00 | 153.00 | -104.00 | 241.00 | 125.00 | 430.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 88.00 | 90.00 | 76.00 | 81.00 | 80.00 | 89.00 | 76.00 | 126.00 | 142.00 | 130.00 | 136.00 | 135.00 |
| Inventory Days | 96.00 | 112.00 | 110.00 | 120.00 | 130.00 | 146.00 | 136.00 | 118.00 | 129.00 | 139.00 | 154.00 | 126.00 |
| Days Payable | 166.00 | 161.00 | 134.00 | 102.00 | 133.00 | 183.00 | 151.00 | 162.00 | 244.00 | 193.00 | 218.00 | 187.00 |
| Cash Conversion Cycle | 18.00 | 41.00 | 52.00 | 98.00 | 77.00 | 52.00 | 61.00 | 82.00 | 28.00 | 75.00 | 72.00 | 73.00 |
| Working Capital Days | -75.00 | -28.00 | 30.00 | 58.00 | -1.00 | -66.00 | -51.00 | -80.00 | -138.00 | -25.00 | 8.00 | 4.00 |
| ROCE % | -8.00 | -13.00 | -13.00 | -4.00 | -7.00 | -1.00 | -10.00 | -18.00 | -12.00 | 3.00 | 13.00 | 2.00 |
Corporate Actions
24 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 20 Sep 2024 | — | — | — | Annual General Meeting |
| Other | 20 Sep 2023 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2022 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2021 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2020 | — | — | — | Annual General Meeting |
| Other | 18 Sep 2019 | — | — | — | Annual General Meeting |
| Rights | 06 Nov 2018 | 09 Nov 2018 | 3:2 | — | |
| Other | 06 Nov 2018 | 09 Nov 2018 | — | — | Right Issue of Equity Shares |
| Other | 18 Sep 2018 | — | — | — | Annual General Meeting |
| Rights | 28 Dec 2017 | 29 Dec 2017 | 6:32 | — | |
| Other | 28 Dec 2017 | 29 Dec 2017 | — | — | Right Issue of Equity Shares |
| Other | 20 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 20 Sep 2016 | — | — | — | Annual General Meeing |
| Other | 21 Sep 2015 | — | — | — | Annual General Meeting |
| Other | 18 Sep 2014 | — | — | — | Annual General Meeting |
| Other | 30 Jul 2013 | — | — | — | Annual General Meeting |
| Split | 22 Nov 2012 | 23 Nov 2012 | 10:2 | — | |
| Dividend | 09 Jul 2012 | — | — | 10.00 | |
| Dividend | 03 Aug 2011 | — | — | 8.00 | |
| Dividend | 20 Jul 2010 | — | — | 7.50 | |
| Dividend | 20 Jul 2009 | — | — | 3.00 | |
| Dividend | 17 Jul 2008 | — | — | 7.00 | |
| Dividend | 12 Jul 2007 | — | — | 5.00 | |
| Dividend | 24 Oct 2001 | — | — | 1.20 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update2 Jun from care
-
Rating update3 Jun 2025 from care
-
Rating update27 Dec 2024 from care
-
Rating update28 Nov 2024 from care
-
Rating update22 Nov 2024 from smera
-
Rating update26 Aug 2024 from smera