Key Metrics 
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10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
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About
SIRCA Paints India Ltd (SIRCA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543686 NSE: SIRCA Trading | Small Cap | SIRCA Paints India Share Price
₹394 -0.60 (-0.15%)
As on 23-Jul'26 16:59
SIRCA Paints India Ltd (SIRCA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543686 NSE: SIRCA Trading | Small Cap | SIRCA Paints India Share Price
₹394 -0.60 (-0.15%)
As on 23-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,238 Cr.
Current Price
₹394
52-Week Low / High
₹386 / 539
TTM EPS
₹11.5
TTM Sales
₹492 Cr.
Book Value per Share
₹83.7
P/E Ratio
34.40
Lower than its 5-year historical median
Industry PE
38.2
Price to Book (P/B)
4.71
Lower than its 5-year historical median
Price to Sales (P/S)
4.54
Lower than its 5-year historical median
EV/EBITDA
21.53
Lower than its 5-year historical median
Dividend Yield
0.38%
Profitability Efficiency
Return on Equity (ROE)
15.77%
Outperforms industry median
Return on Capital Employed (ROCE)
20.28%
Outperforms industry median
Return on Assets (ROA)
12.09%
Operating Profit Margin
18.1%
Net Profit Margin
13.21%
Gross Profit Margin
19.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
19.88%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
46.61%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
32.48%
Asset Quality
Promoter Holding
65.19%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹418 Cr.
Equity
₹56.8 Cr.
Face Value
₹10
All Time Low / High
₹234.00 / 539.00
Check Before You Invest
Quality
Very GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is SIRCA Paints India Ltd a good quality company?
SIRCA Paints India Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does SIRCA Paints India Ltd performance compare with that of its Peers?
Revenue growth of SIRCA Paints India Ltd vs industry peers?
SIRCA Paints India Ltd revenue CAGR is 22.60%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of SIRCA Paints India Ltd?
Promoters hold 65.19% of the SIRCA Paints India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of SIRCA Paints India Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 4.34% based on the current price.
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
SIRCA Paints India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 40.2% | 62.8% | 53.8% | 30.9% | 19.4% | 11.4% | 17.3% | 25.3% | 24.1% | 18.5% | - |
| Value Creation Index ⓘ | 1.9 | 3.5 | 2.8 | 1.2 | 0.4 | -0.2 | 0.2 | 0.8 | 0.7 | 0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 70.6 | 82.5 | 89.2 | 116 | 135 | 143 | 200 | 268 | 312 | 374 | 492 |
| Sales YoY Gr. | - | 17% | 8.1% | 30.2% | 16.3% | 6% | 39.7% | 33.9% | 16.4% | 19.9% | - |
| Adj EPS ⓘ | 1.8 | 3.6 | 4.9 | 4.5 | 4.4 | 2.9 | 5 | 8.4 | 9.2 | 8.8 | 11.5 |
| YoY Gr. | - | 100.6% | 37.1% | -7.7% | -2.4% | -34.5% | 72.8% | 67.9% | 9.6% | -4.3% | - |
| BVPS (₹) ⓘ | 5.5 | 9.3 | 16.8 | 30.6 | 33.7 | 36.8 | 41.1 | 48.5 | 56.3 | 63.8 | 83.7 |
| Adj Net Profit ⓘ | 6.6 | 13.3 | 19.8 | 24.9 | 24.3 | 15.9 | 27.5 | 46.1 | 50.5 | 48.4 | 65 |
| Cash Flow from Ops. ⓘ | 4.6 | 10.7 | -1.3 | 12.3 | -7.6 | 19.2 | 35.2 | -18.7 | 32.4 | 54.3 | - |
| Debt/CF from Ops. ⓘ | 2.3 | 0.4 | -3.8 | 0 | -0 | 0.7 | 0 | 0 | 0 | 0.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 20.4% | 22.6% | 23.2% | 19.9% | ||||
| Adj EPS ⓘ | 19.4% | 14.8% | 20.8% | -4.3% | ||||
| BVPSⓘ | 31.2% | 13.6% | 15.8% | 13.2% | ||||
| Share Price | - | 2.5% | 2.6% | -6.3% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 39.3 | 48.6 | 38.8 | 21.2 | 13.8 | 8.2 | 12.9 | 18.8 | 17.6 | 14.7 | 15.5 |
| Op. Profit Mgn % ⓘ | 13.7 | 24.5 | 29.7 | 27.6 | 23.3 | 9.1 | 19.4 | 23.6 | 22.1 | 18.1 | 20 |
| Net Profit Mgn % ⓘ | 9.4 | 16.1 | 22.2 | 21.4 | 18 | 11.1 | 13.7 | 17.2 | 16.2 | 12.9 | 13.2 |
| Debt to Equity ⓘ | 0.5 | 0.1 | 0.1 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0.1 | 0.1 |
| Working Cap Days ⓘ | 108 | 140 | 200 | 225 | 268 | 322 | 249 | 239 | 264 | 214 | 129 |
| Cash Conv. Cycle ⓘ | 69 | 81 | 123 | 134 | 164 | 182 | 130 | 127 | 128 | 134 | 105 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 83 | 89 | 116 | 135 | 143 | 200 | 268 | 312 | 374 | 492 |
| Operating Expenses ⓘ + | 62 | 63 | 84 | 104 | 131 | 162 | 206 | 243 | 306 | 394 |
| Operating Profit ⓘ | 20 | 26 | 32 | 31 | 12 | 38 | 62 | 69 | 67 | 99 |
| Operating Profit Margin (%) | 24.5% | 29.1% | 27.4% | 23.0% | 8.6% | 18.9% | 23.1% | 22.0% | 18.0% | 20.1% |
| Other Income ⓘ + | 2 | 4 | 6 | 6 | 14 | 4 | 5 | 6 | 5 | 4 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Depreciation ⓘ | 0 | 1 | 1 | 2 | 4 | 4 | 4 | 6 | 7 | 11 |
| Profit Before Tax ⓘ | 22 | 30 | 37 | 34 | 23 | 38 | 62 | 69 | 65 | 87 |
| Tax ⓘ | 8 | 10 | 11 | 9 | 6 | 10 | 16 | 18 | 16 | 22 |
| Profit After Tax | 14 | 19 | 26 | 25 | 17 | 28 | 46 | 51 | 49 | 65 |
| PAT Margin (%) | 16.6% | 21.7% | 22.3% | 18.6% | 11.6% | 13.9% | 17.2% | 16.5% | 13.1% | 13.2% |
| Adjusted EPS (₹) | 3.7 | 4.8 | 4.7 | 4.6 | 3.0 | 5.1 | 8.4 | 9.4 | 9.0 | 11.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 7.10% | 16.30% | 24.80% | 19.80% | 8.90% | 16% | 16.70% | 17.50% |
Valuation of SIRCA Paints India - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 34 | 68 | 168 | 185 | 202 | 225 | 266 | 309 | 350 | 475 | |
| Debt + | 4 | 5 | 0 | 0 | 13 | 0 | 0 | 0 | 42 | 26 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 9 | 7 | 17 | 20 | 35 | 31 | 37 | 33 | 39 | 54 | |
| Others Liabilities ⓘ | 14 | 15 | 14 | 13 | 10 | 15 | 25 | 27 | 37 | 54 | |
| Total Liabilities ⓘ | 61 | 94 | 199 | 218 | 260 | 271 | 328 | 369 | 467 | 609 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 7 | 20 | 25 | 53 | 41 | 53 | 54 | 58 | 164 | 174 | |
| CWIP ⓘ | 1 | 0 | 9 | 0 | 2 | 1 | 5 | 6 | 0 | 10 | |
| Investments ⓘ | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 44 | 2 | 57 | |
| Inventories | 10 | 15 | 27 | 51 | 65 | 70 | 100 | 95 | 108 | 111 | |
| Trade Receivables | 24 | 34 | 40 | 46 | 43 | 46 | 51 | 66 | 93 | 155 | |
| Cash Equivalents | 13 | 15 | 82 | 50 | 79 | 83 | 52 | 70 | 54 | 58 | |
| Others Assets ⓘ | 4 | 11 | 17 | 18 | 30 | 19 | 64 | 30 | 45 | 44 | |
| Total Assets ⓘ | 61 | 94 | 199 | 218 | 260 | 271 | 328 | 369 | 467 | 609 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 11 | -1 | 12 | -8 | 19 | 35 | -19 | 42 | 54 | 44 |
| Cash Flow From Investing Activity ⓘ + | -5 | -13 | -71 | 5 | 15 | -11 | 9 | -21 | -45 | -70 |
| Cash Flow From Financing Activity ⓘ + | -7 | 16 | 68 | -8 | -0 | -17 | -6 | -8 | -8 | 39 |
| Net Cash Flow ⓘ | -2 | 1 | 9 | -11 | 34 | 7 | -15 | 12 | 1 | 14 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 50.24 | 38.16 | 22.01 | 14.27 | 8.6 | 12.99 | 18.79 | 17.91 | 14.92 | 15.77 |
| ROCE (%) | 62.77 | 53.82 | 30.85 | 19.44 | 11.4 | 17.3 | 25.33 | 24.06 | 18.54 | 20.28 |
| Asset Turnover Ratio | 1.55 | 1.15 | 0.79 | 0.65 | 0.6 | 0.75 | 0.89 | 0.9 | 0.89 | 0.92 |
| PAT to CFO Conversion(x) | 0.79 | -0.05 | 0.46 | -0.32 | 1.12 | 1.25 | -0.41 | 0.82 | 1.1 | 0.68 |
| Working Capital Days | ||||||||||
| Receivable Days | 88.40 | 117.70 | 115.10 | 115.30 | 113 | 80.90 | 66.10 | 68.40 | 77.60 | 92.10 |
| Inventory Days | 35.80 | 51.10 | 65.40 | 105.70 | 148.40 | 122.80 | 115.90 | 114.60 | 99.30 | 81 |
| Payable Days | 57 | 65.90 | 64.60 | 96.20 | 119.50 | 103.10 | 84.10 | 74.70 | 65.20 | 63.40 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
SIRCA Paints India Ltd FAQs
The current trading price of SIRCA Paints India on 23-Jul-2026 16:59 is ₹394.0.
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 22-Jul-2026 the market cap of SIRCA Paints India stood at ₹2,237.6 Cr
The latest P/E ratio of SIRCA Paints India as of 22-Jul-2026 is 34.40.
The latest P/B ratio of SIRCA Paints India as of 22-Jul-2026 is 4.71.
The 52-week high of SIRCA Paints India is ₹539.0 and the 52-week low is ₹385.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SIRCA Paints India is ₹492 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that SIRCA Paints India Ltd is a good quality company.
The key valuation ratios of SIRCA Paints India Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of SIRCA Paints India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About SIRCA Paints India Ltd
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