Sirca Paint India Limited

NSE: SIRCA · Paints · sector

₹410.45NSE close 2026-10-26

Key numbers

Market cap₹2,331 cr

Price₹410.45

52w high / low₹539 / ₹385

P/E34.4xSector median 34.4x

P/B4.9xSector median 4.2x

Book value₹83.7

Dividend yield0.35%Sector median 0.96%

ROE16.2%Sector median 14.9%

ROCE18.6%Sector median 18.6%

OPM19.7%Sector median 15.5%

Debt / equity0.07xSector median 0.08x

EV/EBITDA22.5xSector median 19.8x

Interest cover20.6x

Current ratio5.21x

Sales growth 3y+22.5%Sector median +4.0%

Profit growth 3y+12.1%Sector median +9.4%

PEG3.01x

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Paints (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹108 cr vs borrowings ₹32 cr (FY26): cash is higher (net cash).
Operating profit covered interest 20.6x in the last 12 months.
Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY24, FY23).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 8% of net profit in the last 12 months.
Debtor days went from 77 (FY24) to 115 (FY26).
Dividend paid in 5 of the last 5 financial years.
Price ₹410.45 on 2026-10-26: -23.8% from the 52-week high, +6.6% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹534.60 · low ₹239.75

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	106	89	101	114	131	113	134	130
EBITDA	19	15	19	23	27	23	26	24
OPM %	18.0%	17.4%	18.8%	19.7%	20.9%	20.4%	19.1%	18.6%
Other income	1	2	1	0	1	1	1	2
Net profit	13	11	14	14	18	15	18	16
EPS (₹)	2.42	2.09	2.57	2.59	3.24	2.69	3.16	2.85
Revenue YoY					+24.3%	+27.1%	+32.8%	+13.8%
Profit YoY					+36.3%	+31.2%	+25.3%	+14.2%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	200	268	312	374	492	508
EBITDA	38	62	69	67	99	100
Net profit	28	46	51	49	65	67
EPS (₹)	10.12	8.41	9.38	8.95	11.63	11.94
Revenue growth		+33.9%	+16.4%	+20.0%	+31.7%	+24.1%
Profit growth		+66.3%	+11.5%	-4.6%	+32.5%	+26.3%
Dividend / share (₹)	1.50	2.00	1.50	1.50	1.50

Compounded growth	3 years	5 years	Last 12 months
Sales	+22.5%	+28.0%	+24.1%
Net profit	+12.1%	+31.4%	+26.3%
EPS	+11.4%	+14.0%	–
Share price	–	+15.6% (2y)	-13.3%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	266	309	350	475
Borrowings	–	0	0	0	32
Cash & equivalents	–	52	70	56	108
Total assets	–	312	351	451	589
Fixed assets	–	49	53	57	67
Capital work in progress	–	5	6	0	10
Investments	–	0	0	0	7
Receivables	–	51	66	93	155
Inventory	–	100	95	108	111
Payables	–	37	33	39	54

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	35	-19	32	54	44
Cash from investing	-11	9	-12	-45	-70
Cash from financing	-17	-6	-8	-8	39
Capex	22	10	12	107	28
Free cash flow	13	-29	20	-53	17

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	17.4%	16.7%	14.0%	13.7%
ROCE %	–	23.4%	22.4%	18.8%	18.1%
Debtor days	–	70	77	91	115
Inventory days	–	248	206	198	151
Payable days	–	90	70	71	74
Cash conversion cycle (days)	–	228	213	218	192
Working capital days	–	277	283	215	232

Shareholding

Holder	% (2026-09-30)
Promoters	65.19%
FIIs	4.64%
DIIs	3.99%
of which Mutual funds	3.71%
Public (non-institutions)	26.18%

Quarter	Mar 2025	Jun 2025	Sep 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	67.55%	67.55%	65.19%	65.19%	65.19%	65.19%	65.19%	65.19%

Promoter group	%
Sanjay Agarwal	31.27%
BGB Italia S R L	18.16%
Gurjit Singh Bains	13.62%
Apoorv Agarwal	1.95%
Anita Agarwal	0.06%
Ayushi Agarwal	0.06%
Srishti Agarwal	0.06%

Public holders above 1%	%
Sirca S.P.A	4.16%
Bandhan Small CAP Fund	3.49%
Pinali Amar Ambani	2.73%
Asha Mukul Agrawal	2.52%

37,801 shareholders. Pledged: – of promoter shares.

Peers in Paints

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
ASIANPAINT	₹2,22,726 cr	46.7x	10.4x	23.4%	28.0%	19.0%	+1.1%	1.09%
BERGEPAINT	₹54,312 cr	44.6x	7.8x	18.6%	21.3%	15.5%	+4.0%	0.82%
KANSAINER	₹14,447 cr	24.1x	2.1x	9.1%	12.5%	11.3%	+2.2%	2.10%
JSWDULUX	₹12,700 cr	6.5x	5.2x	103.8%	96.8%	65.0%	-1.8%	6.67%
INDIGOPNTS	₹4,872 cr	30.3x	4.2x	14.9%	19.3%	18.2%	+9.4%	0.34%
SIRCA	₹2,331 cr	34.4x	4.9x	16.2%	18.6%	19.7%	+22.5%	0.35%
SHALPAINTS	₹673 cr	–	2.7x	-24.5%	-11.2%	-5.6%	+5.8%	–
KAMOPAINTS	₹123 cr	–	0.7x	-2.4%	-0.6%	1.7%	-1.9%	–
RETINA	₹43 cr	67.1x	2.2x	3.3%	12.1%	11.8%	+29.4%	–

All 9 companies in Paints →

Dividends & corporate actions

Ex-date	Action	Detail
2026-07-31	Dividend	Dividend - Rs 2 Per Share
2025-09-04	Dividend	Dividend - Rs 1.50 Per Share
2024-08-22	Other	Annual General Meeting
2024-08-22	Dividend	Dividend - Rs 1.50 Per Share
2023-08-18	Dividend	Annual General Meeting/Dividend - Rs 1.50 Per Share
2023-05-11	Bonus	Bonus 1:1
2022-07-19	Dividend	Annual General Meeting/Dividend - Rs 2 Per Share
2021-07-29	Dividend	Annual General Meeting/Dividend - Rs 1.50 Per Share
2020-09-09	Other	Annual General Meeting
2020-03-12	Dividend	Interim Dividend - Re 1.50 Per Sh
2019-08-29	Dividend	Annual General Meeting/Dividend - Re 1 Per Share

Documents

Links go to the original files on the exchange website.

About the company

Import & Trading of Paints products: Import & Trading of Paints products
Manufacturing of Paints: Manufacturing of Paints


Sector	Consumer Discretionary
Industry	Paints
Sub-industry	Paints
Symbol	SIRCA
BSE code	543686
ISIN	INE792Z01011
Face value	₹10.0
Incorporated	2006-01-19
Website	https://www.sircapaints.com
Plants (India / abroad)	4 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.