Shalimar Paints Ltd Stock Analysis

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

BSE Share Price Jan 20, 18:01
137.35 -4.00 (-2.83%)

DeciZen - Make an Informed Decision on Shalimar Paints

Overall Rating

1. Quality

2. Valuation

Overvalued
P/E P/S EV/EBITDA

3. Price Trend

Semi Strong

FAQ's

1. Is Shalimar Paints Ltd a good quality company?

Data is not available for this company.

2. Is Shalimar Paints Ltd 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 Overvalued zone.

3. Is Shalimar Paints Ltd a good buy now?

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

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.

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.

Value Creation

Value Creation Index Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 20.4%16.3%4.5%1.6%10.5%2.4%-8.5%-17.3%-7.2%-10.1%-
Value Creation Index 0.50.2-0.7-0.9-0.3-0.8-1.6-2.2-1.5-1.7-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 486502483433403350271288344326360
YoY Gr. Rt. %-3.1%-3.8%-10.3%-7%-13.2%-22.5%6.1%19.6%-5.3%-
Adj EPS 5.54.8-2.6-4.42-3.5-18.2-15.2-8-9.2-13.2
YoY Gr. Rt. %--13.5%-154.5%NANA-276.9%NANANANA-
BVPS (₹) 23.127.426.822.323.963.148.553.747.238.131.5
Adj Net Profit 14.512.5-6.8-11.55.3-9.3-45.5-81.6-43.3-49.7-72
Cash Flow from Ops. 15.125.610.437.93634.235.6-94.2-9.615.5-
Debt/CF from Ops. 4.63.410.63.43.855-1.6-12.78.5-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales -4.4%-4.2%6.3%-5.3%
Adj EPS -205.8%-235.7%NANA
BVPS 5.79.8-7.7-19.3
Share Price 8% 3.2% 27% 27.5%

Key Financial Parameters

Performance Ratio Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 24.618.1-9.2-178.2-8-31.6-39.8-15.9-21.4-37.9
Op. Profit Mgn % 8.37.6327.54.1-12.6-21.4-9.81.1-3.4
Net Profit Mgn % 32.5-1.4-2.71.3-2.7-16.8-28.4-12.6-15.3-19.8
Debt to Equity 1.11.21.62.22.211.50.50.50.60.2
Working Cap Days 157172202222232288334281221227179
Cash Conv. Cycle 735860605978685356410

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.63

Sales growth is good in last 4 quarters at 24.51%

Return on Equity is Poor

Sales growth has been subdued in last 3 years 6.28%

Latest Financials - Shalimar Paints Ltd.

Standalone Consolidated
TTM EPS (₹) -13.2 -13.2
TTM Sales (₹ Cr.) 360 360
BVPS (₹.) 31.5 34.4
Reserves (₹ Cr.) 160 176
P/BV 4.36 3.99
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 82.90 / 150.60
All Time Low / High (₹) 2.50 / 230.21
Market Cap (₹ Cr.) 746
Equity (₹ Cr.) 10.9
Face Value (₹) 2
Industry PE 89.9

Management X-Ray of Shalimar Paints :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Shalimar Paints Ltd

Shalimar Paints incorporated in 1902, is one of the leading paints manufacturing companies in India. The company has a colour bank of 9000 shades.

The Company has a wide product range in both Architectural and Industrial sectors.  It has network of 54 branches and depots spread across India. The Company also has tinting systems under the brand name 'Color Space'.  It has network of 6000 dealers.

Manufacturing facilities

The company has three manufacturing facilities located Howrah, Nasik and Sikandrabad. These units has ISO 9000 accreditation for its quality management.

Its Howrah plant, is the first large scale paint manufacturing plant located in South East Asia. It has installed capacity of 14204 MT per year. This plant also has in-house research and development laboratory that is recognized by Dept. of Scientific and Industrial Research, Govt. of India.

Company’s Nashik plant has installed capacity of 16000 MT per year.

Its Sikandrabad unit was set up in technical collaboration with Sherwin Williams of USA.

Products

Decorative- The Company manufactures wide range of decorative paints used for interior or exterior, every surface - concrete, plaster, metal or wood. Under this it has created brand like Xtra, Superlac, Shaktiman, Superlac Hi-Gloss and Hussain Collection.

Industrial- 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.

Outlook

With the Indian economy continuing its buoyant growth and massive investments forthcoming in infrastructure and housing, there is considerable potential for growth of the paints industry. The Company’s endeavour will be to tap the immense market potential and increase its market share both in the decorative as well as the industrial segment.

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