Is Shalimar Paints a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shalimar Paints Ltd is a below average quality company .

Is Shalimar Paints undervalued or overvalued?

The key valuation ratios of Shalimar Paints Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Shalimar Paints share price return in the past 10 years?

Shalimar Paints Ltd share price has declined -1.2% annually (CAGR) over the past ten years.

Is Shalimar Paints a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shalimar Paints Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Shalimar Paints Ltd - Stock Valuation and Financial Performance

Name: Shalimar Paints
Brand: Shalimar Paints

BSE: 509874 | NSE: SHALPAINTS | Paints | Small Cap

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Shalimar Paints Share Price

₹99.50 -3.90 -3.77%
as on 21-Nov'24 14:34

10 Year X-Ray of Shalimar Paints:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	3.2%	13.6%	2.8%	-12.9%	-22.6%	-8.8%	-1.2%	-9.1%	-4.7%	-16.5%	-
Value Creation Index ⓘ	-0.8	0.0	-0.8	-1.9	-2.6	-1.6	-1.1	-1.7	-1.3	-2.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	433	403	350	271	288	344	326	358	484	535	563
Sales YoY Gr.	-	-7%	-13.2%	-22.5%	6.1%	19.6%	-5.3%	10%	35.1%	10.6%	-
Adj EPS ⓘ	-4.4	2	-3.5	-18.2	-15.2	-8	-9.2	-8.3	-5	-8.9	-10.1
YoY Gr.	-	NA	-276.9%	NA	NA	NA	NA	NA	NA	NA	-
BVPS (₹) ⓘ	22.3	23.9	63.1	48.5	53.7	47.2	38.1	46.4	26.4	31.9	26.6
Adj Net Profit ⓘ	-11.5	5.3	-9.3	-45.5	-81.6	-43.3	-49.7	-60	-36.2	-74.8	-84
Cash Flow from Ops. ⓘ	37.9	36	34.2	35.6	-94.2	-9.6	15.6	-61.5	-47.9	17.7	-
Debt/CF from Ops. ⓘ	3.4	3.8	5	5	-1.6	-12.7	8.4	-2.7	-2.9	5.8	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	2.4%	13.2%	18%	10.6%
Adj EPS ⓘ	NA	NA	NA	NA
BVPSⓘ	4%	-9.9%	-5.8%	20.9%
Share Price	-1.2%	2.2%	-2.1%	-42.4%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	-17	8.2	-8	-31.6	-39.8	-15.9	-21.4	-22.1	-10.8	-21	-34.5
Op. Profit Mgn % ⓘ	2	7.5	4.1	-12.6	-21.4	-9.8	1.1	-6.3	-3	-10.1	-11.3
Net Profit Mgn % ⓘ	-2.7	1.3	-2.7	-16.8	-28.4	-12.6	-15.3	-16.7	-7.5	-14	-15
Debt to Equity ⓘ	2.2	2.2	1	1.5	0.5	0.5	0.6	0.5	0.7	0.4	0.1
Working Cap Days ⓘ	222	232	288	334	281	221	228	198	181	185	108
Cash Conv. Cycle ⓘ	60	59	78	68	53	56	42	53	59	56	22

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 18.00%

Debt to equity has declined versus last 3 years average to 0.39

Sales growth is good in last 4 quarters at 10.75%

Return on Equity is Poor

Latest Financials - Shalimar Paints Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-10.1	-10.1
TTM Sales (₹ Cr.)	563	563
BVPS (₹.) ⓘ	26.6	28.4
Reserves (₹ Cr.) ⓘ	206	221
P/BV ⓘ	3.89	3.64
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	100.30 / 225.65
All Time Low / High (₹)	2.50 / 230.21
Market Cap (₹ Cr.)	866
Equity (₹ Cr.)	16.7
Face Value (₹)	2
Industry PE ⓘ	51

Management X-Ray of Shalimar Paints:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

28.47

66.16

* Pledged shares as % of Promoter's holding (%)

Valuation of Shalimar Paints

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Shalimar Paints

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	433	403	350	271	288	344	326	358	484	535
Operating Expenses ⓘ	424	373	336	305	349	378	322	381	499	589
Manufacturing Costs	37	33	29	6	8	9	10	19	26	35
Material Costs	276	235	219	209	221	232	223	269	357	388
Employee Cost	37	35	35	39	42	49	36	41	54	77
Other Costs ⓘ	75	70	52	50	79	88	53	51	62	89
Operating Profit ⓘ	9	30	14	-34	-62	-34	4	-22	-15	-54
Operating Profit Margin (%)	2.0%	7.5%	3.9%	-12.6%	-21.5%	-9.8%	1.1%	-6.3%	-3.0%	-10.1%
Other Income ⓘ	2	1	2	1	2	2	8	5	7	8
Interest ⓘ	21	22	23	26	25	20	19	22	16	13
Depreciation ⓘ	5	5	8	8	9	11	13	13	13	15
Exceptional Items ⓘ	0	0	0	0	-16	7	-2	-7	0	0
Profit Before Tax ⓘ	-15	4	-15	-67	-109	-56	-23	-61	-36	-74
Tax ⓘ	-4	-1	-5	-22	-27	-18	26	-1	0	0
Profit After Tax	-11	5	-10	-45	-82	-38	-49	-60	-36	-74
PAT Margin (%)	-2.4%	1.3%	-2.7%	-16.7%	-28.4%	-11.0%	-15.2%	-16.7%	-7.5%	-13.8%
Adjusted EPS (₹)	-4.0	2.0	-3.7	-18.2	-15.2	-7.0	-9.1	-8.3	-5.0	-8.8
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	62	66	166	121	288	256	207	335	299	375
Share Capital ⓘ	4	4	4	4	11	11	11	14	14	17
Reserves ⓘ	58	62	163	117	278	245	196	320	285	359
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	128	128	161	175	145	119	124	151	70	91
Long Term Debt	18	34	24	25	18	18	24	82	15	20
Short Term Debt	110	94	137	150	127	101	100	69	56	71
Trade Payables	158	157	129	140	98	96	112	98	100	135
Others Liabilities ⓘ	32	37	84	64	41	25	50	45	136	50
Total Liabilities ⓘ	380	387	540	500	572	497	493	628	605	651
Fixed Assets
Gross Block	126	127	202	238	242	302	304	309	318	328
Accumulated Depreciation	56	60	8	15	24	35	48	60	73	80
Net Fixed Assetsⓘ	71	67	194	222	218	267	256	248	245	248
CWIP ⓘ	1	6	14	1	24	0	0	0	2	35
Investmentsⓘ	1	1	4	1	1	1	1	6	6	6
Inventories	106	111	93	74	71	87	89	95	114	116
Trade Receivables	154	143	125	106	99	72	80	78	108	110
Cash Equivalents	1	9	12	19	91	5	8	162	23	56
Others Assetsⓘ	47	50	99	77	68	66	59	38	108	80
Total Assets ⓘ	380	387	540	500	572	497	493	628	605	651

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	38	36	34	36	-94	-10	16	-61	-48	18
PBT ⓘ	-15	4	-15	-67	-109	-56	-23	-61	-36	-74
Adjustment ⓘ	23	26	31	33	72	56	32	43	25	25
Changes in Working Capital ⓘ	25	6	19	69	-58	-10	7	-44	-37	66
Tax Paid ⓘ	4	0	0	0	0	0	0	0	-1	0
Cash Flow From Investing Activity ⓘ	-26	-5	-16	-10	-33	-28	-5	-6	-84	-51
Capex	-27	-7	-10	-14	-33	-33	-2	-3	-11	-56
Net Investments	0	0	-2	3	-2	4	-3	-5	-75	-4
Others ⓘ	1	1	-3	1	1	1	1	2	3	8
Cash Flow From Financing Activityⓘ	-16	-23	-19	-18	198	-46	-11	225	-7	63
Net Proceeds from Shares ⓘ	0	0	0	0	251	6	0	210	0	113
Net Proceeds from Borrowing ⓘ	0	0	0	-5	-4	-5	4	13	-15	3
Interest Paid ⓘ	-21	-22	-22	-26	-25	-20	-19	-22	-15	-13
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	5	-1	3	13	-24	-26	4	24	23	-40
Net Cash Flow ⓘ	-4	8	-1	7	70	-83	0	157	-139	29

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	-16.37	8.66	-8.38	-31.64	-39.89	-13.91	-21.38	-22.14	-13.75	-32.26
ROCE (%)	3.15	13.61	2.83	-12.87	-22.63	-8.8	-1.16	-9.13	-4.66	-16.46
Asset Turnover Ratio	1.37	1.25	0.85	0.6	0.6	0.71	0.73	0.72	0.89	1
PAT to CFO Conversion(x)	N/A	7.2	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Working Capital Days
Receivable Days	110	113	124	134	116	82	77	71	62	63
Inventory Days	80	82	94	97	83	76	89	83	70	67
Payable Days	187	209	200	212	196	152	170	142	101	110

Shalimar Paints Ltd Stock News

Shalimar Paints Ltd FAQs

What is the share price of Shalimar Paints?

Company share prices are keep on changing according to the market conditions. The closing price of Shalimar Paints on 21-Nov-2024 14:34 is ₹99.50.

What is the market cap of Shalimar Paints?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 14:34 the market cap of Shalimar Paints stood at ₹865.6.

What is the P/E ratio of Shalimar Paints?

The latest P/E ratio of Shalimar Paints as of 21-Nov-2024 14:34 is 0.00.

What is the P/B ratio of Shalimar Paints?

The latest P/B ratio of Shalimar Paints as of 21-Nov-2024 14:34 is 3.89.

What is the 52-week high and low of Shalimar Paints?

The 52-week high of Shalimar Paints is ₹225.7 and the 52-week low is ₹100.3.

What is the TTM revenue of Shalimar Paints?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shalimar Paints is ₹563.2 ( Cr.) .

About Shalimar Paints Ltd

The history of Shalimar Paints is the history of the paint industry in India and South-East Asia. Shalimar Paint Color & Varnish Company was established in 1902 in Howrah, West Bengal by two Britishers - A N Turner and A N Wright. In the same year, the company set-up a large-scale manufacturing plant in Howrah, the first such plant in entire South-East Asia.

Rapidly expanding presence and reach, Shalimar soon became the country’s leading paint brand. India’s iconic structures like Rashtrapati Bhavan, Howrah Bridge, Vidyasagar Setu, Salt Lake Stadium, continue to use Shalimar Paints. With access to high-end technology in the industrial coatings segment, Shalimar Paints pioneered aviation coatings, marine paints and the painting of thermal power plants.

With the growing demand from the Northern region, Shalimar Paints set up its third manufacturing facility in Sikandrabad, U.P. in 2002. Both, decorative and industrial paint products are manufactured at the plants. Further, to serve the southern market and strengthen its product portfolio, the company has set up a greenfield plant in Chennai catering the ever expanding product line meeting the new requirements of the market.

The company focus in paint innovations that protect infrastructure and assets, and enrich consumers’ home lives. The company pioneered industrial coatings technology in India with several industry firsts such as high build zinc coatings, radiation resistant coatings for nuclear power plants, polyurethane paint for fighter aircraft and railway coaches, among others.

Recognizing the importance of R&D, the company set up its first R&D centre in Howrah, West Bengal in 1902. This centre holds the distinction of being the first Indian in-house R&D unit to get recognized by the Department of Scientific & Industrial Research (DSIR), Govt of India, in 1979. To keep pace with the company’s growth and expansion, it set up its second R&D centre spread over 10,000 ft, in Nashik, Maharashtra in 2009.

Equipped with world-class infrastructure and manned by skilled talent, the R&D centres focus on:

Product and process innovations
Development and prototyping of innovative, environment friendly technologies
Creating new business opportunities by bridging technology and product gaps faster
Customisation of Industrial Coatings products as per customer requirement

Business area of the company

The Company is engaged in the business of manufacturing, selling and distribution of paints, coatings and providing related services. The Company has pan-India presence through its marketing offices in all major states in India.

Products

Decorative Paints

The Company manufactures wide range of decorative paints used for interior or exterior, every surface - concrete, plaster, metal or wood. Some of the company’s brands are:

WeatherPro+, Exterior super premium emulsion: Water based super-premium 100% acrylic exterior emulsion with silicon additives to safegaurd walls from extreme weather conditions like rain, humidity and heat. It reflects sun rays to help reduce heat build-up, blocks out damaging ultraviolate rays and prevent algal and fungal formation on walls
Signature, Interior luxury emulsion: A water based luxury interior emulsion with the toughness of pure acrylic binders fortified with fluoro polymers imparts high level of inertness for long lasting, Luxurious and stain free finish to walls. It delivers rich and bright colors with a touch of refined and delicate sophistication.
Superlac Stay Clean, Interior premium acrylic emulsion: Superlac Stay Clean is a water based premium emulsion with advance stain guard technology that gives superior stain resistance to household stains such as Tea, Coffee, Ketchup etc. It has a water beading feature in which when water comes in contact with paint it converts water into tiny droplets which resist the water to penetrate into the surface.
Xtra Tough, Exterior super premium emulsion: Shalimar paints XTRA Tough is a premium emulsion with pure acrylic emulsion technology having silicon additive. It's tough and durable film effectively withstands in all weather conditions. It is an eco-friendly product contains no added lead, mercury and chromium.

Industrial Paints

Under this the company has association with companies like Pinchin Johnson Co. and International Paints PLC of the U.K. It manufactures and markets industrial coatings, aviation coatings, marine paints and coatings for metal decoration and food can lacquers.