Shalimar Paints Reports Highest Sales in Five Quarters Amid Profitability Challenges
Shalimar Paints has recently reported its financial results for the quarter ending December 2024, revealing a complex picture of performance within the small-cap paints industry. The company's net sales reached Rs 148.16 crore, marking the highest figure in the last five quarters, indicating a positive near-term sales trend. However, this positive aspect is contrasted by significant challenges in profitability metrics.The Profit After Tax (PAT) for the quarter stood at Rs -23.98 crore, reflecting a decline of 13.4% compared to the average PAT of the previous four quarters. Similarly, the Profit Before Tax less Other Income (PBT) was recorded at Rs -24.81 crore, down 8.9% from the average of the last four quarters. These figures suggest a negative trend in profitability.
Additionally, the company reported its highest interest expense in the last five quarters at Rs 5.41 crore, which has increased by 23.23% quarter-on-quarter, indicating a rise in borrowing costs. The debt-equity ratio has also reached its highest level in the last five half-yearly periods at 0.47 times, suggesting that Shalimar Paints is relying more on debt to finance its operations, potentially stressing its liquidity situation.
In light of these developments, Shalimar Paints has experienced adjustments in its evaluation.
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