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Retina Paints Ltd (543902) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 543902 NSE: | Paints | Small Cap

Retina Paints Share Price

55.80 -3.82 (-6.41%)
As on 17-Apr'26 16:59

Retina Paints Ltd (543902)

BSE: 543902 NSE:
Key Metrics
Market Cap
₹86 Cr.
P/E Ratio
65.64
Price to Book (P/B)
2.51
Price to Sales (P/S)
4.15
EV/EBITDA
28.43
Return on Capital Employed (ROCE)
8.06%
Current Price
₹55.8
Return on Equity (ROE)
4.64%
Return on Assets (ROA)
2.95%
Operating Profit Margin
14.4%
Net Profit Margin
6.32%
Gross Profit Margin
10.9%
Book Value per Share
₹22.3
Sales Growth (YoY)
76.84%
Sales Growth (3 Years)
41.55%
Operating Profit Growth (1 Year)
NA%
Operating Profit Growth (3 Years)
72.17%
Net Profit Growth (1 Year)
75.68%
52-Week Low / High
₹49 / 83
Net Profit Growth (3 Years)
102.78%
Dividend Yield
0.00%
Promoter Holding
53.87%
Pledged shares (%)
of Promoter's holding (%)
0.00%

Check Before You Invest

Q.1 Revenue growth of Retina Paints Ltd?
Retina Paints Ltd revenue growth is 76.8% for FY-2025 , which is above its 5 year CAGR of 24.8% , indicating faster growth.
Q.1 Promoter shareholding and pledge status of Retina Paints Ltd?
Promoters hold 53.87% of the Retina Paints Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Revenue growth of Retina Paints Ltd vs industry peers?
Retina Paints Ltd revenue CAGR is 24.84% , compared to the industry median CAGR of 11.74% , indicating faster growth and gaining its market share.
Q.1 Which industry/sub-sector does Retina Paints Ltd belong to?
Retina Paints Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Paints segment.
Q.1 Stock return of Retina Paints Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -8.37% based on the current price.

DeciZen - make an informed investing decision on Retina Paints

Based on:

M-Cap below 100cr DeciZen not available

Retina Paints stock performance

Key Ratios
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Is Retina Paints Ltd an attractive stock to invest in?

1. Is Retina Paints Ltd a good quality company?

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

2. Is Retina Paints Ltd undervalued or overvalued?

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

3. Is Retina Paints Ltd a good buy now?

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

10 Year X-Ray :

Analysis of Financial Track Record

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Retina Paints Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 6.3%8%7.5%6.5%7.9%8.1%-
Value Creation
Index
-0.6-0.4-0.5-0.5-0.4-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6.86.97.310.911.720.621
Sales YoY Gr.-0.9%6%50.5%6.6%76.8%-
Adj EPS 0.50.30.40.30.50.90.9
YoY Gr.--28.3%27.3%-31%82.8%60.4%-
BVPS (₹) 6.16.46.412.215.922.322.3
Adj Net
Profit
0.10.10.20.30.71.31
Cash Flow from Ops. -1.5-2.5-0.3-1.3-8.6-10.8-
Debt/CF from Ops. -2.2-2.5-23.1-3.4-0.8-0.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA24.8%41.6%76.8%
Adj EPS NA13.1%26.5%60.4%
BVPSNA29.6%51.4%40.4%
Share Price - - - -8.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.35.29.44.14.24.63.8
Op. Profit
Mgn %
57.487.5-30.614.4NAN
Net Profit
Mgn %
10.72.22.86.36.36.3
Debt to
Equity
3.76.62.50.30.30.3-
Working Cap
Days
03073602965125630
Cash Conv.
Cycle
01502191523473280

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 41.55%

Net Profit is growing at healthy rate in last 3 years 26.49%

Return on Equity has declined versus last 3 years average to 3.80%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials

Standalone Consolidated
TTM EPS (₹) 0.9 -
TTM Sales (₹ Cr.) 20.6 -
BVPS (₹) 22.3 -
Reserves (₹ Cr.) 19 -
P/BV 2.51 -
PE 65.64 -
From the Market
52 Week Low / High (₹) 48.75 / 83.00
All Time Low / High (₹) 28.00 / 97.50
Market Cap (₹ Cr.) 85.6
Equity (₹ Cr.) 15.3
Face Value (₹) 10
Industry PE 43.3

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Retina Paints - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

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No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales6.806.867.2710.9411.6620.62
Operating Expenses + 6.466.356.6910.1215.2317.66
Manufacturing Costs0.390.260.420.661.250.81
Material Costs3.403.784.106.195.429.04
Employee Cost 0.770.590.510.893.083.09
Other Costs 1.901.731.662.375.484.72
Operating Profit 0.340.500.580.82-3.572.96
Operating Profit Margin (%) 5.0%7.3%8.0%7.5%-30.6%14.4%
Other Income + 0.0100.090.305.670.39
Exceptional Items -0.0300000
Interest 0.180.360.340.400.761.09
Depreciation 0.070.060.100.310.300.41
Profit Before Tax 0.080.090.230.411.041.85
Tax 0.030.040.080.110.290.55
Profit After Tax 0.050.050.160.300.741.30
PAT Margin (%) 0.7%0.7%2.2%2.8%6.4%6.3%
Adjusted EPS (₹)0.30.30.40.30.50.9
Dividend Payout Ratio (%)0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 0.910.952.3712.4822.1034.15
Share Capital 0.720.721.8510.2413.9415.34
Reserves 0.190.230.522.248.1618.81
Debt +3.186.135.863.986.458.91
Long Term Debt1.894.404.042.152.452.26
Short Term Debt1.281.721.821.8346.64
Minority Interest000000
Trade Payables1.952.092.382.573.435.04
Others Liabilities 0.650.680.991.022.475.99
Total Liabilities 6.699.8511.6020.0634.4554.09

Fixed Assets

Net Fixed Assets +0.270.501.859.5711.5212.58
Gross Block0.821.012.4710.5112.5814.04
Accumulated Depreciation0.550.510.620.941.051.46
CWIP 0.222.541.88000
Investments 000000.18
Inventories2.262.573.293.836.875.71
Trade Receivables2.863.693.694.1711.3923.65
Cash Equivalents 0.140.080.240.360.360.32
Others Assets 0.940.460.672.124.3111.66
Total Assets 6.699.8511.6020.0634.4554.09

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -1.45-2.51-0.25-1.26-8.57-10.79
PBT 0.110.090.230.411.041.85
Adjustment 0.230.410.430.700.851.28
Changes in Working Capital -1.75-2.97-0.84-2.27-10.36-13.7
Tax Paid -0.03-0.04-0.08-0.09-0.09-0.21
Cash Flow From Investing Activity + -0.20-0.29-0.13-6.16-2.09-1.52
Capex -0.21-0.29-0.13-6.16-2.25-1.46
Net Investments 00000-0.18
Others 0.010000.150.12
Cash Flow From Financing Activity + 1.622.740.547.5410.6512.27
Net Proceeds from Shares 0.5001.139.818.8710.75
Net Proceeds from Borrowing 000-1.890.30-0.19
Interest Paid -0.17-0.35-0.33-0.39-0.69-0.93
Dividend Paid 000000
Others 1.303.09-0.260.012.172.64
Net Cash Flow -0.02-0.060.150.13-0.01-0.03

Finance Ratio

PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.345.059.484.054.294.64
ROCE (%)6.277.997.456.457.878.06
Asset Turnover Ratio1.240.910.680.690.430.47
PAT to CFO Conversion(x)-29-50.2-1.56-4.2-11.58-8.3
Working Capital Days
Receivable Days125158185131244310
Inventory Days99116147119168111
Payable Days209195199146202171

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Retina Paints Ltd FAQs

The current trading price of Retina Paints on 17-Apr-2026 16:59 is ₹55.80.

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 16-Apr-2026 the market cap of Retina Paints stood at ₹85.60 Cr

The latest P/E ratio of Retina Paints as of 16-Apr-2026 is 65.64.

The latest P/B ratio of Retina Paints as of 16-Apr-2026 is 2.51.

The 52-week high of Retina Paints is ₹83.00 and the 52-week low is ₹48.75.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Retina Paints is ₹20.62 ( Cr.) .

About Retina Paints Ltd

Retina Paints was originally incorporated on November 01, 2010 as a Private Limited Company as ‘Retina Paints Private Limited’ under the provisions of the Companies Act, 1956 with the Registrar of Companies, Andhra Pradesh. Later in the year 2022, pursuant to a Special Resolution of its Shareholders passed in the Extra-Ordinary General Meeting held on December 05, 2022, the company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the company was changed to ‘Retina Paints Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on December 26, 2022 by the Registrar of Companies, Hyderabad.

Retina Paints Limited established in the year 2010 headquartered at Hyderabad, Telangana. The company is into manufacturing of Decorative Paints like Distempers, Primers, Wall Care Products, Emulsions, etc and further sell them to different Distributors. It sources its raw materials at present indigenously for manufacturing of Paints. Its water based paints are used for residential and for commercial buildings. It has recently introduced tinting machines in the company. The tinting machine comprises a plurality of colorant reservoirs containing colorant, one or more cleaning fluid supply conduits and one or more dispenser heads for dispensing colorant into a paint container.

The company works on B2B Business Model, it sells its products to the dealers and distributors and then they sell to the end customers. It has a huge network of Distributors in the markets of Telangana and Andhra Pradesh and it has also presence in Odisha for selling its product. It is having exposure to the markets of Telangana, Andhra Pradesh and Odissa.

Business area of the company

The company is engaged in the business of manufacturing of paints alkyed based, Epoxy based, polyurethane based, water based, emulsions-based distempers of all types, primers, anti-corrosive primers, and paints for decorative and specially applications. 

Products of the company

  • EXPO Ultimax - Premium exterior emulsion
  • EXPO Exterior Emulsion
  • GLOW Premium - Premium interior emulsion
  • GLOW Interior emulsion
  • X-GEN Cement primer
  • ECO - Exterior cement primer
  • JET Cement primer
  • EYE - Premium washable distemper
  • SPRAY Plasters
  • WALL Care

History and milestones

  • 2010: Incorporation of the company.
  • 2020: Took over Unikon Paints Private Limited via Scheme of Amalgamation.
  • 2020: Acquisition of own land & building.
  • 2020: The company offered a wide range of colours to its customers with colour vision shades and also offered its own colour dispenser to the dealers as well.
  • 2022: Becoming a Public Limited Company from a Private Limited Company.
  • 2023: Moving the entire operations to the own Land & Building. 
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