Shalimar Paints

  • Market Cap: Micro Cap
  • Industry: Paints
  • ISIN: INE849C01026
  • NSEID: SHALPAINTS
  • BSEID: 509874
INR
54.21
2.54 (4.92%)
BSENSE

Jun 19, 03:30 PM

BSE+NSE Vol: 3.31 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

3.31 lacs (235.31%) Volume

Shareholding (Mar 2026)

FII

0.08%

Held by 3 FIIs

DII

0.03%

Held by 2 DIIs

Promoter

74.96%

Why is Shalimar Paints Ltd. falling/rising?

19-Jun-2026

As of 19-Jun, Shalimar Paints Ltd. is seeing a stock price increase to Rs 54.21, up 4.92%, following two days of decline. While there are short-term gains, the stock has underperformed significantly over the long term, with a year-to-date decline of 12.14% and a 43.71% drop over the past year.

As of 19-Jun, Shalimar Paints Ltd. is experiencing a rise in its stock price, currently at Rs 54.21, which reflects an increase of Rs 2.54 or 4.92%. This upward movement is notable as the stock has outperformed its sector by 3.04% today and has gained after two consecutive days of decline. Additionally, the stock reached an intraday high of Rs 54.76, marking a rise of 5.98% during the trading session.<BR><BR>In terms of performance over different periods, the stock has shown a positive trend in the short term, with a weekly increase of 3.65% and a monthly increase of 10.54%. However, it is important to note that the year-to-date performance is still negative at -12.14%, and the stock has significantly underperformed over the longer term, with a decline of 43.71% over the past year and 63.78% over the past three years.<BR><BR>Despite the current rise, there are indicators of falling investor participation, as evidenced by a decrease in delivery volume by 21.47% compared to the five-day average. Furthermore, while the stock's price is above the 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average, suggesting that the stock may still be facing long-term challenges.<BR><BR>Overall, the current rise in Shalimar Paints Ltd.'s stock price can be attributed to short-term gains and a reversal from recent declines, despite ongoing concerns regarding its long-term performance and investor engagement.

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How big is Shalimar Paints?

11-Jun-2026

As of 10th June, Shalimar Paints Ltd. has a market capitalization of 427.00 Cr and reported net sales of 575.63 Cr, with a net loss of 64.95 Cr in the latest four quarters.

As of 10th June, Shalimar Paints Ltd. has a market capitalization of 427.00 Cr, which categorizes it as a Micro Cap company.<BR><BR>In the latest four quarters, Shalimar Paints reported net sales of 575.63 Cr. However, the company experienced a loss of 64.95 Cr in net profit during the same period.<BR><BR>The latest annual period for the balance sheet is March 2025, where Shalimar Paints reported shareholder's funds of 314.98 Cr and total assets amounting to 702.28 Cr.

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Who are in the management team of Shalimar Paints?

11-Jun-2026

The management team of Shalimar Paints includes Ashok Kumar Gupta (Managing Director), Rajeev Oberoi (Chairman), and several independent directors such as Alok Perti and Ashok Kumar Agarwal, along with key roles like Shikha Rastogi (Company Secretary) and Souvik Pulakesh Sengupta (Director).

The management team of Shalimar Paints includes the following individuals:<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 also serves as a 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 comprises a mix of managing and independent directors, along with key operational roles.

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Who are the peers of the Shalimar Paints?

11-Jun-2026

Shalimar Paints' peers include Asian Paints, Berger Paints, Kansai Nerolac, JSW Dulux, Indigo Paints, Sirca Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan. In terms of management risk, Shalimar Paints ranks below average, with a 1-year return of -48.62%, better than Kamdhenu Venture but worse than Asian Paints, which has a return of 21.83%.

Peers: The peers of Shalimar Paints are Asian Paints, Berger Paints, Kansai Nerolac, JSW Dulux, Indigo Paints, Sirca Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan.<BR><BR>Quality Snapshot: Excellent management risk is observed at Asian Paints and JSW Dulux, while Good management risk is found at Berger Paints, Kansai Nerolac, and Indigo Paints. Average management risk is seen at Sirca Paints, while Below Average management risk is present at Shalimar Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan. Growth is Excellent at Sirca Paints, Average at Kamdhenu Venture, and Below Average at Shalimar Paints, Asian Paints, JSW Dulux, Berger Paints, Kansai Nerolac, Indigo Paints, Retina Paints, and MCON Rasayan. Capital Structure is Excellent at Asian Paints, Berger Paints, Kansai Nerolac, JSW Dulux, and Indigo Paints, Good at Kamdhenu Venture, and Below Average at Shalimar Paints, Retina Paints, and MCON Rasayan.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Asian Paints at 21.83%, while the peer with the lowest is Kamdhenu Venture at -56.07%. Shalimar Paints has a 1-year return of -48.62%, which is better than Kamdhenu Venture but worse than Asian Paints. Additionally, several peers, including Kamdhenu Venture, Indigo Paints, and MCON Rasayan, have negative six-month returns.

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What does Shalimar Paints do?

10-Jun-2026

Shalimar Paints Ltd. manufactures and sells decorative paints and industrial coatings. As of March 2026, it reported net sales of ₹156 Cr and a net loss of ₹7 Cr, with a market cap of ₹427 Cr.

Overview: <BR>Shalimar Paints Ltd. is engaged in the manufacturing and selling of decorative paints and industrial coatings within the micro-cap paints industry.<BR><BR>History: <BR>Shalimar Paints Limited was established on December 16, 1902. The latest quarterly results reported net sales and net profit for the period ending March 2026.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 156 Cr (Quarterly Results - Mar 2026) <BR>Most recent Net Profit: -7 Cr (Quarterly Results - Mar 2026) <BR>Market-cap value: INR 427 Cr (Micro Cap)<BR><BR>Key Metrics: <BR>P/E: N/A <BR>Industry P/E: 52 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 0.47 <BR>Return on Equity: -24.03% <BR>Price to Book: 1.67<BR><BR>Contact Details: <BR>Address: Stainless Centre 4th Floor, Plot No 50 Sector 32 Gurugram Haryana : 122001 <BR>Phone: 91-0124-4616600 <BR>Email: askus@shalimarpaints.com <BR>Website: http://www.shalimarpaints.com

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When is the next results date for Shalimar Paints Ltd.?

25-May-2026

The next results date for Shalimar Paints Ltd. is 28 May 2026.

The next results date for Shalimar Paints Ltd. is scheduled for 28 May 2026.

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

14-Feb-2026

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

Dashboard

1

Weak Long Term Fundamental Strength with an average Return on Capital Employed (ROCE) of 0%

  • Poor long term growth as Operating profit has grown by an annual rate -218.49% of over the last 5 years
  • Company's ability to service its debt is weak with a poor EBIT to Interest (avg) ratio of -2.90
2

Risky - Negative EBITDA

3

70.51% of Promoter Shares are Pledged

4

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 433 Cr (Micro Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

53

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.47

stock-summary
Return on Equity

-24.03%

stock-summary
Price to Book

1.72

Revenue and Profits:
Net Sales:
156 Cr
(Quarterly Results - Mar 2026)
Net Profit:
-7 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
18.78%
0%
18.78%
6 Months
-1.65%
0%
-1.65%
1 Year
-43.71%
0%
-43.71%
2 Years
-62.51%
0%
-62.51%
3 Years
-63.78%
0%
-63.78%
4 Years
-54.39%
0%
-54.39%
5 Years
-48.54%
0%
-48.54%

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

News

Announcements stock-summary

Shareholder Meeting / Postal Ballot-Scrutinizers Report

15-Jun-2026 | Source : BSE

Please find attached Scrutinizers Report for the Postal Ballot concluded on June 13 2026.

Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot

15-Jun-2026 | Source : BSE

Please find attached Outcome of Postal Ballot concluded on June 13 2026 towards Reappointment of Mr. Atul Rasiklal Desai as independent Director of the Company for a second term of three years and Appointment of Mr. Abhijeet Jhawar as a Director of the Company.

Announcement under Regulation 30 (LODR)-Credit Rating

03-Jun-2026 | Source : BSE

We wish to inform you that the credit rating agency viz. CARE Ratings Limited has released an update on Companys Facilities/Instruments enclosed herewith for your records.

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)
12.07%
EBIT Growth (5y)
-218.49%
EBIT to Interest (avg)
-2.90
Debt to EBITDA (avg)
Negative Net Debt
Net Debt to Equity (avg)
0.47
Sales to Capital Employed (avg)
1.09
Tax Ratio
0.67%
Dividend Payout Ratio
0
Pledged Shares
70.51%
Institutional Holding
0.11%
ROCE (avg)
-11.38%
ROE (avg)
0

Valuation key factors

Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
53
Price to Book Value
1.79
EV to EBIT
-13.53
EV to EBITDA
-25.35
EV to Capital Employed
1.54
EV to Sales
0.99
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
-11.38%
ROE (Latest)
-24.03%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bullish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
No Trend
No Trend
OBV
Mildly Bullish
Mildly Bullish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

70.507

Mutual Funds

Held by 0 Schemes

FIIs

Held by 3 FIIs (0.08%)

Promoter with highest holding

Hella Infra Market Limited (52.85%)

Highest Public shareholder

None

Individual Investors Holdings

20.93%

stock-summaryFinancial
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  }
]

Quarterly Results Snapshot (Consolidated) - Mar'26 - QoQstock-summary

Mar'26
Dec'25
Change(%)
Net Sales
155.93
131.33
18.73%
Operating Profit (PBDIT) excl Other Income
2.08
-10.59
119.64%
Interest
5.65
7.05
-19.86%
Exceptional Items
0.00
-4.60
100.00%
Consolidate Net Profit
-7.39
-26.65
72.27%
Operating Profit Margin (Excl OI)
1.33%
-8.06%
9.39%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is 18.73% vs -1.85% in Dec 2025

Direction Arrows
Consolidated Net Profit

QoQ Growth in quarter ended Mar 2026 is 72.27% vs -88.47% in Dec 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'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
575.63
599.81
-4.03%
Operating Profit (PBDIT) excl Other Income
-22.40
-57.68
61.17%
Interest
25.34
17.55
44.39%
Exceptional Items
-4.60
0.00
Consolidate Net Profit
-64.95
-81.17
19.98%
Operating Profit Margin (Excl OI)
-3.89%
-9.62%
5.73%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is -4.03% vs 12.13% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2026 is 19.98% vs -9.91% in Mar 2025

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