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Shalimar Paints Ltd. Stock Analysis

Small Cap
Evaluated by 737 users | BSE: 509874 | NSE: SHALPAINTS |
Paints
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...

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
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 17.68%20.41%16.31%4.54%1.59%10.52%2.41%-8.54%-17.28%-7.19%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 407486502483433403350271288344
Y-o-Y Gr. Rt.-19.5%3.1%-3.8%-10.3%-7%-13.2%-22.5%6.1%19.6%
Adjusted EPS (Rs.) 4.435.494.75-2.59-4.361.99-3.52-18.24-15.2-7.97
Y-o-Y Gr. Rt.-23.9%-13.5%-154.5%NANA-276.9%NANANA
Book Value per Share (Rs.) 19.2923.1127.4126.7722.3323.9363.0948.4853.7347.18
Adjusted Net Profit 11.714.512.5-6.8-11.55.3-9.3-45.5-81.6-43.3
Net Op. Cash Flow (Rs. Cr.) 7.315.125.610.437.93634.235.6-94.2-9.6
Debt to Cash Flow from Ops 8.234.573.4410.63.423.8155.03-1.62-12.65
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Shalimar Paints Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -1.9%-4.5%-0.6%19.6%
Adjusted EPS -206.7%NANANA
Book Value per Share 10.516.1-9.2-12.2
Share Price 1.3% -6.7% -19.6% -20.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 23.524.6318.05-9.2-17.018.22-7.98-31.58-39.83-15.89
Operating Profit Margin (%) 7.218.317.593.022.047.474.09-12.55-21.38-9.75
Net Profit Margin (%) 2.872.972.5-1.41-2.651.3-2.65-16.76-28.35-12.59
Debt to Equity 1.181.131.221.562.212.171.031.480.530.47
Working Capital Days 154157172202222232288334281221
Cash Conversion Cycle 64735860605978685353
Entity Percentage Holding
Promoters 53.10%
Institutions 4.23%
Non-Institutions 42.67%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Shalimar Paints Ltd.'s performance infers:

Shalimar Paints Ltd. earnings have grown by 0%, whereas share price has depreciated -6.7% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Shalimar Paints Ltd. share prices over the last 10 years. Here is what we found out:

Shalimar Paints Ltd. share price has depreciated 3.5% annually over the past ten years.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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