Shalimar Paints

  • Market Cap: Micro Cap
  • Industry: Paints
  • ISIN: INE849C01026
  • NSEID: SHALPAINTS
  • BSEID: 509874
INR
44.61
-1.03 (-2.26%)
BSENSE

Mar 20

BSE+NSE Vol: 1.21 lacs

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

1.21 lacs (-22.84%) Volume

Shareholding (Dec 2025)

FII

0.04%

Held by 3 FIIs

DII

0.00%

Held by 2 DIIs

Promoter

74.96%

Who are in the management team of Shalimar Paints?

06-Jun-2025

As of March 2022, the management team of Shalimar Paints includes Ashok Kumar Gupta (Managing Director), Rajeev Oberoi (Chairman), and several independent directors, along with a Company Secretary. They oversee the company's operations and strategic direction.

As of March 2022, the management team of Shalimar Paints includes the following members:<BR><BR>1. **Ashok Kumar Gupta** - Managing Director<BR>2. **Rajeev Oberoi** - Chairman & Independent Director<BR>3. **Alok Perti** - Independent Director<BR>4. **Ashok Kumar Agarwal** - Independent Director<BR>5. **Vijay Kumar Sharma** - Independent Director<BR>6. **Abhyuday Jindal** - Independent Director and Director<BR>7. **Sanjiv Garg** - Independent Director<BR>8. **Shikha Rastogi** - Company Secretary & Compliance Officer<BR>9. **Souvik Pulakesh Sengupta** - Director<BR>10. **Shan Jain** - Additional Director<BR><BR>This team is responsible for overseeing the company's operations and strategic direction.

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Has Shalimar Paints declared dividend?

06-Jun-2025

Shalimar Paints Ltd. declared a 100% dividend (₹2.00 per share) on July 9, 2012, but currently has a dividend yield of 0%. Total returns have been negative over most periods, with a positive return only in the 5-year period.

Shalimar Paints Ltd. has declared a 100% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 100%<BR>- Amount per share: 2.0000<BR>- Ex-date: Jul-09-2012<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was -13.14%, the dividend return was 0%, resulting in a total return of -13.14%.<BR><BR>For the 1-year period, the price return was -33.78%, the dividend return was 0%, leading to a total return of -33.78%.<BR><BR>Over the 2-year period, the price return was -33.84%, with a dividend return of 0%, resulting in a total return of -33.84%.<BR><BR>During the 3-year period, the price return was -27.31%, the dividend return was 0%, which culminated in a total return of -27.31%.<BR><BR>In the 4-year period, the price return was -13.37%, the dividend return was 0%, resulting in a total return of -13.37%.<BR><BR>For the 5-year period, the price return was 60.58%, with a dividend return of 0%, leading to a total return of 60.58%.<BR><BR>Overall, while Shalimar Paints declared a dividend in the past, the current dividend yield is 0%, indicating no recent dividends. The total returns over various periods show significant negative returns in the short to medium term, with a positive return only in the 5-year period.

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Who are the peers of the Shalimar Paints?

03-Jun-2025

Shalimar Paints' peers include Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, and others. Shalimar Paints has below-average management risk and a 1-year return of -33.17%, higher than Kamdhenu Venture but lower than Akzo Nobel's 29.95%.

Peers: The peers of Shalimar Paints are Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, Indigo Paints, Sirca Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan.<BR><BR>Quality Snapshot: Excellent management risk is observed at Asian Paints, Berger Paints, and Akzo Nobel, while Good management risk is found at Kansai Nerolac and Indigo Paints. Average management risk is noted at Sirca Paints and MCON Rasayan, and Below Average management risk is seen at Shalimar Paints, Kamdhenu Venture, and the rest. Growth is Excellent at Sirca Paints, Average at Asian Paints and Berger Paints, and Below Average at Kansai Nerolac, Akzo Nobel, Indigo Paints, Shalimar Paints, Kamdhenu Venture, and the rest. Capital Structure is Excellent at Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, Indigo Paints, and Sirca Paints, while Below Average is noted at Shalimar Paints and Kamdhenu Venture.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Akzo Nobel at 29.95%, while the lowest is Kamdhenu Venture at -66.20%. Shalimar Paints has a 1-year return of -33.17%, which is higher than Kamdhenu Venture but lower than Akzo Nobel. Additionally, the six-month return is negative for Kamdhenu Venture, Indigo Paints, and Shalimar Paints.

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What does Shalimar Paints do?

17-Jul-2025

Shalimar Paints Ltd. manufactures and sells decorative paints and industrial coatings. As of March 2025, it reported net sales of ₹1,778 Cr and a net loss of ₹95 Cr, with a market cap of ₹812 Cr.

Overview: <BR>Shalimar Paints Ltd. is engaged in the manufacturing and selling of decorative paints and industrial coatings, operating within the Micro Cap category of the Paints industry.<BR><BR>History: <BR>Shalimar Paints Limited was established on December 16, 1902. The latest quarterly results reported are for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 1,778 Cr (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: -95 Cr (Quarterly Results - Mar 2025) <BR>Market-cap value: INR 812 Cr (Micro Cap)<BR><BR>Key Metrics: <BR>P/E: N/A <BR>Industry P/E: 53 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 0.38 <BR>Return on Equity: -25.45% <BR>Price to Book: 2.59<BR><BR>Contact Details: <BR>Address: Stainless Centre 4th Floor, Plot No 50 Sector 32 Gurugram Haryana : 122001 <BR>Tel: 91-0124-4616600 <BR>Email: askus@shalimarpaints.com <BR>Website: http://www.shalimarpaints.com

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Who are the top shareholders of the Shalimar Paints?

17-Jul-2025

The top shareholder of Shalimar Paints is Hella Infra Market Limited, holding 52.85% of the shares, while individual investors own about 20.59%. Promoter holdings are heavily pledged at 57.68%, and there are no mutual funds invested in the company.

The top shareholders of Shalimar Paints are primarily the promoters, with Hella Infra Market Limited holding the highest stake at 52.85%. Additionally, individual investors own about 20.59% of the shares. There are currently no mutual funds holding shares in the company, and four foreign institutional investors (FIIs) collectively hold a very small percentage of 0.01%. The promoter holdings are significantly pledged, amounting to 57.6757%.

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How big is Shalimar Paints?

24-Jul-2025

As of 24th July, Shalimar Paints Ltd. has a market capitalization of 793.00 Cr, with net sales of 599.06 Cr and a net loss of 80.16 Cr over the latest four quarters. The balance sheet for March 2024 shows shareholder's funds of 393.18 Cr and total assets of 669.56 Cr.

As of 24th July, Shalimar Paints Ltd. has a market capitalization of 793.00 Cr, categorizing it as a Micro Cap company.<BR><BR>In the latest four quarters, Shalimar Paints reported net sales of 599.06 Cr. However, the company experienced a loss of 80.16 Cr in net profit during the same period.<BR><BR>The latest annual period for the balance sheet is March 2024, showing shareholder's funds of 393.18 Cr and total assets amounting to 669.56 Cr.

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When is the next results date for Shalimar Paints?

06-Aug-2025

Shalimar Paints will announce its results on 11 August 2025.

Shalimar Paints is scheduled to declare its results on 11 August 2025.

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Is Shalimar Paints technically bullish or bearish?

11-Nov-2025

As of November 10, 2025, Shalimar Paints shows a mildly bearish trend due to mixed technical indicators, with weekly signals suggesting caution and monthly indicators remaining bearish.

As of 10 November 2025, the technical trend has changed from bearish to mildly bearish. The current stance is mildly bearish, driven by a combination of indicators. The weekly MACD shows a mildly bullish signal, but the monthly MACD remains bearish. The moving averages on the daily timeframe are bearish, and Bollinger Bands indicate bearish conditions on both weekly and monthly timeframes. The KST is mildly bullish on the weekly but bearish on the monthly, while Dow Theory suggests a mildly bullish stance on the monthly but no trend on the weekly. Overall, the mixed signals indicate a cautious outlook for Shalimar Paints.

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How has been the historical performance of Shalimar Paints?

13-Nov-2025

Shalimar Paints has shown increasing net sales, reaching 599.81 Cr in March 2025, but continues to face significant losses, with a net profit after tax of -81.17 Cr and negative operating profit of -47.84 Cr. The company's financial position remains challenging due to rising expenditures and negative cash flow.

Answer:<BR>The historical performance of Shalimar Paints has shown a trend of increasing net sales but persistent losses over the years.<BR><BR>Breakdown:<BR>Shalimar Paints reported net sales of 599.81 Cr for the year ending March 2025, up from 534.91 Cr in March 2024 and 485.55 Cr in March 2023, indicating a consistent growth in revenue over the past few years. However, the company has faced significant challenges, as evidenced by its operating profit (PBDIT) which remained negative at -47.84 Cr in March 2025, slightly worse than -46.05 Cr in March 2024 and -7.54 Cr in March 2023. The total expenditure also increased to 657.49 Cr in March 2025 from 589.08 Cr in March 2024, contributing to a profit before tax of -81.17 Cr in March 2025, compared to -73.85 Cr in March 2024. The net profit after tax for March 2025 was -81.17 Cr, reflecting a decline from -73.85 Cr in the previous year. The company's total assets grew to 702.28 Cr in March 2025 from 669.56 Cr in March 2024, while total liabilities also increased to 702.28 Cr, resulting in a challenging financial position. Cash flow from operating activities was negative at -58.00 Cr in March 2025, further highlighting the company's ongoing financial difficulties despite the increase in sales.

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Are Shalimar Paints Ltd. latest results good or bad?

13-Feb-2026

Shalimar Paints Ltd.'s latest Q3 FY26 results are concerning, showing a net loss of ₹26.65 crores and a negative operating margin of -8.06%, indicating significant financial struggles and declining profitability. The stock has also dropped 47.34% over the past year, reflecting a lack of investor confidence.

Shalimar Paints Ltd.'s latest results for Q3 FY26 are concerning and indicate a significant deterioration in financial performance. The company reported a net loss of ₹26.65 crores, which is an alarming 88.47% decline compared to the previous quarter. This marks a troubling trend as the company continues to struggle with profitability.<BR><BR>Revenue for the quarter was ₹131.33 crores, reflecting a slight decrease of 1.85% quarter-on-quarter and a more substantial decline of 11.55% year-on-year. The operating margin turned negative at -8.06%, indicating that the company is facing severe operational challenges. Additionally, the profit after tax (PAT) margin of -20.29% represents the worst performance in eight quarters.<BR><BR>The stock has been under significant pressure, trading at ₹62.51, down 47.34% over the past year and 52.50% below its 52-week high. The company's financial health is further compounded by high levels of pledged shares and a lack of institutional confidence, with only 0.07% institutional ownership.<BR><BR>Overall, the results suggest that Shalimar Paints is in a precarious position, struggling to maintain operational viability in a competitive market. The combination of accelerating losses, negative cash flow, and high debt levels raises serious concerns about the company's future.

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Should I buy, sell or hold Shalimar Paints Ltd.?

14-Feb-2026

Why is Shalimar Paints Ltd. falling/rising?

16-Mar-2026

As of 16-Mar, Shalimar Paints Ltd. is facing a significant decline in its stock price, currently at Rs 48.79, with a year-to-date drop of -20.92% and underperformance compared to the Sensex. The stock is nearing its 52-week low and has been on a downward trend, trading below all major moving averages despite increased investor participation.

As of 16-Mar, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 48.79, which reflects a change of -0.71 or -1.43%. The stock has been underperforming significantly compared to the benchmark Sensex, with a one-week decline of -3.69% compared to the Sensex's -2.66%. Over the past month, the stock has dropped by -17.31%, while the Sensex has only decreased by -9.34%. Year-to-date, Shalimar Paints has fallen by -20.92%, in contrast to the Sensex's -11.40% decline.<BR><BR>The stock is also nearing its 52-week low, being only 3.44% away from the low of Rs 47.11. It has been on a consecutive downward trend for the last three days, resulting in a total drop of -6.92% during this period. Furthermore, Shalimar Paints is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend.<BR><BR>Despite a rise in investor participation, with a delivery volume increase of 44.26% on 13 March compared to the 5-day average, the overall performance remains weak, having underperformed its sector by -1.89% today. This combination of factors contributes to the ongoing decline in the stock price of Shalimar Paints Ltd.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

With a Operating Losses, the company has a Weak Long Term Fundamental Strength

  • Poor long term growth as Operating profit has grown by an annual rate -4.21% of over the last 5 years
  • Company's ability to service its debt is weak with a poor EBIT to Interest (avg) ratio of -2.89
2

The company has declared Negative results for the last 3 consecutive quarters

3

Risky - Negative EBITDA

4

70.51% of Promoter Shares are Pledged

5

Consistent Underperformance against the benchmark over the last 3 years

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Paints

stock-summary
Market cap

INR 387 Cr (Micro Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

45

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.50

stock-summary
Return on Equity

-22.85%

stock-summary
Price to Book

1.34

Revenue and Profits:
Net Sales:
131 Cr
(Quarterly Results - Dec 2025)
Net Profit:
-27 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-19.07%
0%
-19.07%
6 Months
-47.92%
0%
-47.92%
1 Year
-58.42%
0%
-58.42%
2 Years
-72.47%
0%
-72.47%
3 Years
-69.27%
0%
-69.27%
4 Years
-66.11%
0%
-66.11%
5 Years
-49.76%
0%
-49.76%

Latest dividend: 2.0000 per share ex-dividend date: Jul-09-2012

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

Announcements stock-summary

Announcement under Regulation 30 (LODR)-Change in Directorate

05-Mar-2026 | Source : BSE

We wish to inform you that Mr. Venugopal Chetlur (DIN: 08686707) has tendered his resignation from the position of Whole-time Director of the Company w.e.f. close of business hours on Wednesday March 04 2026 due to personal reasons. It is further informed that he will continue to serve the Company in the position of Chief Operating Officer (COO) and will look after the operational management of the Company.

Announcement under Regulation 30 (LODR)-Change in Management

05-Mar-2026 | Source : BSE

We wish to inform you that Mr. Venugopal Chetlur (DIN: 08686707) has tendered his resignation from the position of Whole-time Director of the Company w.e.f close of business hours on Wednesday March 04 2026 due to personal reasons. It is further informed that he will continue to serve the Company in the position of Chief Operating Officer (COO) and will look after the operational management of the Company.

Announcement under Regulation 30 (LODR)-Resignation of Director

05-Mar-2026 | Source : BSE

We wish to inform you that Mr. Venugopal Chetlur (DIN: 08686707) has tendered his resignation from the position of Whole-time Director of the Company w.e.f close of business hours on Wednesday March 04 2026 due to personal reasons. It is further informed that he will continue to serve the Company in the position of Chief Operating Officer (COO) and will look after the operational management of the Company.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Shalimar Paints Ltd. has declared 100% dividend, ex-date: 09 Jul 12

stock-summary
SPLITS

Shalimar Paints Ltd. has announced 2:10 stock split, ex-date: 22 Nov 12

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

Shalimar Paints Ltd. has announced 3:2 rights issue, ex-date: 06 Nov 18

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
14.99%
EBIT Growth (5y)
-4.21%
EBIT to Interest (avg)
-2.89
Debt to EBITDA (avg)
Negative Net Debt
Net Debt to Equity (avg)
0.50
Sales to Capital Employed (avg)
1.04
Tax Ratio
0
Dividend Payout Ratio
0
Pledged Shares
70.51%
Institutional Holding
0.07%
ROCE (avg)
-10.52%
ROE (avg)
0

Valuation key factors

Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
45
Price to Book Value
1.31
EV to EBIT
-10.23
EV to EBITDA
-16.18
EV to Capital Employed
1.21
EV to Sales
0.86
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
-12.80%
ROE (Latest)
-22.85%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bearish
Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Bearish
Dow Theory
Mildly Bearish
Mildly Bearish
OBV
Mildly Bearish
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Dec 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

70.5054

Mutual Funds

Held by 0 Schemes

FIIs

Held by 3 FIIs (0.04%)

Promoter with highest holding

Hella Infra Market Limited (52.85%)

Highest Public shareholder

None

Individual Investors Holdings

21.2%

stock-summaryFinancial
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        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "-9.62%",
          "val2": "-10.13%",
          "chgp": "0.51%",
          "chgp_class": "positive"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Consolidated) - Dec'25 - QoQstock-summary

Dec'25
Sep'25
Change(%)
Net Sales
131.33
133.81
-1.85%
Operating Profit (PBDIT) excl Other Income
-10.59
-6.26
-69.17%
Interest
7.05
6.49
8.63%
Exceptional Items
-4.60
0.00
Consolidate Net Profit
-26.65
-14.14
-88.47%
Operating Profit Margin (Excl OI)
-8.06%
-4.68%
-3.38%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Dec 2025 is -1.85% vs -13.43% in Sep 2025

Direction Arrows
Consolidated Net Profit

QoQ Growth in quarter ended Dec 2025 is -88.47% vs 15.68% in Sep 2025

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
288.37
273.07
5.60%
Operating Profit (PBDIT) excl Other Income
-13.89
-34.01
59.16%
Interest
12.64
7.27
73.87%
Exceptional Items
0.00
0.00
Consolidate Net Profit
-30.91
-46.66
33.75%
Operating Profit Margin (Excl OI)
-4.82%
-12.45%
7.63%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 5.60% vs 11.56% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is 33.75% vs -30.01% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
419.70
421.55
-0.44%
Operating Profit (PBDIT) excl Other Income
-24.48
-49.90
50.94%
Interest
19.69
12.68
55.28%
Exceptional Items
-4.60
0.00
Consolidate Net Profit
-57.56
-71.22
19.18%
Operating Profit Margin (Excl OI)
-5.83%
-11.84%
6.01%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -0.44% vs 7.91% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is 19.18% vs -50.16% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
599.81
534.91
12.13%
Operating Profit (PBDIT) excl Other Income
-57.68
-54.17
-6.48%
Interest
17.55
12.96
35.42%
Exceptional Items
0.00
0.00
Consolidate Net Profit
-81.17
-73.85
-9.91%
Operating Profit Margin (Excl OI)
-9.62%
-10.13%
0.51%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 12.13% vs 10.17% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is -9.91% vs -104.29% in Mar 2024

stock-summaryCompany CV
About Shalimar Paints Ltd. stock-summary
stock-summary
Shalimar Paints Ltd.
Micro Cap
Paints
Shalimar Paints Limited, established on December 16, 1902 is engaged in manufacturing and selling of decorative paints and industrial coatings. The Company operates 3 manufacturing facilities, one each at Chennai, Nashik and Sikandrabad (Uttar Pradesh). It has a wide distribution network, 48 sales depots across India. Apart from India, the Company catered to consumers from Nepal, UAE, Bhutan and Seychelles.
Company Coordinates stock-summary
Company Details
Stainless Centre 4th Floor, Plot No 50 Sector 32 Gurugram Haryana : 122001
stock-summary
Tel: 91-0124-4616600
stock-summary
askus@shalimarpaints.com
Registrar Details
Beetal Financial & Computer Services (P) Ltd , 321 - S Third Floor , Near Shahid Bhagat Singh College, Chirag Delhi, New Delhi