Sirca Paints India Limited

BSE: SIRCA543686ISIN INE792Z01011

Consumer Discretionary
Paints
BSE 1000

Share price

₹409.55+0.05 (+0.01%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹539.00
52W low: ₹385.50
Off 52W high: -24.02%
1M return: +1.93%
3M return: -7.70%
6M return: -3.99%
1Y return: -19.16%
20D avg volume: 14,553
50 DMA: ₹418.56
200 DMA: ₹429.05

Key ratios Consolidated

Market cap: ₹2,326 Cr
Current price: ₹409.55
52W high / low: ₹539.00 / ₹385.50
Face value: ₹10.00
P/E: 34.71
P/B: 4.90
EPS (TTM): ₹11.80
Book value / share: ₹83.66
ROE: —
ROCE: 17.90%
Operating margin: —
Net margin: —
Debt / equity: 0.07
Net debt: ₹-24.46 Cr
Interest cover: 18.81
Dividend yield: 0.49%
Dividend / share (TTM): ₹2.00
Payout: 16.95%
Cash conversion cycle: 157.2 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	130.01	134.29	112.79	131.17	114.24	101.11	88.72	105.50	78.68	82.64	72.49	83.60
	1.61	1.22	1.40	1.04	0.21	1.00	1.90	0.84	1.42	2.09	1.63	1.20
	131.61	135.51	114.18	132.21	114.45	102.11	90.61	106.34	80.10	84.72	74.12	84.80
	109.47	112.52	93.75	107.75	95.26	84.06	75.08	88.37	66.17	67.93	60.30	63.92
	58.70	53.65	49.95	55.12	43.51	25.90	24.71	31.49	27.67	26.52	24.95	27.74
	8.60	20.60	8.58	14.08	12.65	24.10	27.80	28.00	21.07	13.75	14.51	15.15
	14.78	12.77	13.69	12.40	12.55	10.80	11.62	10.62	10.19	8.67	8.87	7.65
	0.99	1.00	1.26	1.36	1.10	0.16	0.01	0.01	0.01	0.00	0.01	0.00
	2.69	2.93	2.72	2.62	2.48	1.77	1.80	1.82	1.56	1.54	1.56	1.59
	20.17	21.77	14.97	20.75	16.34	19.96	—	16.58	11.75	—	9.88	11.54
	22.14	22.99	20.43	24.47	19.19	18.05	15.54	17.97	13.93	16.79	13.83	20.89
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	22.14	22.99	20.43	24.47	19.19	18.05	15.54	17.97	13.93	16.79	13.83	20.89
	5.93	5.31	5.40	6.37	4.98	3.94	4.08	4.69	3.72	4.28	3.31	5.38
	16.21	17.68	15.03	18.10	14.21	14.11	11.46	13.28	10.21	12.51	10.51	15.51
	2.85	3.16	2.69	3.24	2.59	2.57	2.09	2.42	1.86	2.28	1.92	2.83
Key metrics
	25.82	26.92	24.41	28.45	22.77	19.98	17.35	19.80	15.50	18.33	15.40	22.48
	19.90%	20.00%	21.60%	21.70%	19.90%	19.80%	19.60%	18.80%	19.70%	22.20%	21.20%	26.90%
	12.50%	13.20%	13.30%	13.80%	12.40%	14.00%	12.90%	12.60%	13.00%	15.10%	14.50%	18.60%
	—	4.70%	—	5.20%	—	4.60%	—	—	—	—	—	—
	13.80%	32.80%	27.10%	24.30%	45.20%	22.30%	22.40%	26.20%	—	—	—	—
	14.10%	25.30%	31.20%	36.30%	39.20%	12.80%	9.00%	-14.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23
Income statement
	508.26	492.48	374.00	311.72	267.75
	5.27	3.87	5.16	6.36	4.84
	513.51	496.35	379.16	318.08	272.59
	423.49	409.28	313.68	249.02	210.49
	217.42	200.34	109.77	99.67	77.32
	51.86	55.91	100.97	62.18	97.64
	53.64	51.40	43.23	32.48	24.41
	4.61	4.89	0.17	0.02	0.04
	10.96	10.74	6.95	5.95	4.41
	77.66	75.54	63.82	—	34.20
	90.03	87.07	65.48	69.06	62.10
	0.00	0.00	0.00	0.00	0.00
	90.03	87.07	65.48	69.06	62.10
	23.01	22.05	16.42	17.63	16.00
	67.02	65.02	49.06	51.43	46.11
	11.94	11.63	8.95	9.38	8.41
Key metrics
	105.60	102.70	72.60	75.03	66.55
	20.78%	20.90%	19.40%	24.10%	24.90%
	13.19%	13.20%	13.10%	16.50%	17.20%
	—	17.90%	16.70%	—	—
	24.10%	31.70%	20.00%	16.40%	—
	26.31%	32.50%	-4.60%	11.50%	—
	—	16.60	-52.67	—	—
	—	0.68	1.11	—	—
	—	0.07	0.00	—	—
	—	-24.46	-43.29	—	—
	—	157.2	158.7	—	—
Balance sheet
	—	588.93	450.62	—	—
	—	387.39	278.59	—	—
	—	56.78	43.29	—	—
	—	155.25	93.30	—	—
	—	110.61	108.02	—	—
	—	11.51	18.08	—	—
	—	66.91	56.79	—	—
	—	53.89	38.74	—	—
	—	74.37	58.33	—	—
	—	32.32	0.00	—	—
	—	6.43	0.00	—	—
	—	25.89	0.00	—	—
	—	475.12	349.57	—	—
Cash flow
	—	44.41	54.26	—	—
	—	-69.75	-45.33	—	—
	—	38.83	-8.40	—	—
	—	27.81	106.93	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	130.01	134.29	112.79	131.17	114.24	101.11	88.72	105.50	78.68	82.64	72.49	83.60
	1.61	1.22	1.40	1.04	0.21	1.00	1.90	0.84	1.42	2.09	1.63	1.20
	131.61	135.51	114.18	132.21	114.45	102.11	90.61	106.34	80.10	84.72	74.12	84.80
	109.47	112.48	93.75	107.75	95.26	84.06	75.08	88.37	66.17	67.93	60.30	63.92
	58.70	53.65	49.95	55.12	43.51	25.90	24.71	31.49	27.67	26.52	24.94	27.74
	8.60	20.60	8.58	14.08	12.65	24.10	27.80	28.00	21.07	13.75	14.51	15.15
	14.78	12.77	13.69	12.40	12.55	10.80	11.62	10.62	10.19	8.67	8.87	7.65
	0.99	1.00	1.26	1.36	1.10	0.16	0.01	0.01	0.01	0.00	0.01	0.00
	2.69	2.93	2.72	2.62	2.48	1.77	1.80	1.82	1.56	1.55	1.56	1.59
	20.17	21.73	14.96	20.75	16.34	19.96	—	16.58	11.75	—	9.87	11.54
	22.14	23.03	20.43	24.47	19.19	18.05	15.54	17.97	13.93	16.79	13.83	20.89
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	22.14	23.03	20.43	24.47	19.19	18.05	15.54	17.97	13.93	16.79	13.83	20.89
	5.93	5.32	5.40	6.37	4.98	3.89	4.08	4.69	3.72	4.28	3.31	5.38
	16.21	17.71	15.04	18.10	14.21	14.16	11.46	13.28	10.21	12.51	10.51	15.51
	2.85	3.17	2.69	3.24	2.59	2.58	2.09	2.42	1.86	2.28	1.92	2.83
Key metrics
	25.82	26.96	24.41	28.45	22.77	19.98	17.35	19.80	15.50	18.34	15.40	22.48
	19.90%	20.10%	21.60%	21.70%	19.90%	19.80%	19.60%	18.80%	19.70%	22.20%	21.20%	26.90%
	12.50%	13.20%	13.30%	13.80%	12.40%	14.00%	12.90%	12.60%	13.00%	15.10%	14.50%	18.60%
	—	4.70%	—	5.20%	—	4.60%	—	—	—	—	—	—
	13.80%	32.80%	27.10%	24.30%	45.20%	22.30%	22.40%	26.20%	—	—	—	—
	14.10%	25.10%	31.20%	36.30%	39.20%	13.20%	9.00%	-14.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23
Income statement
	508.26	492.48	374.00	311.72	267.75
	5.27	3.87	5.16	6.36	4.84
	513.51	496.35	379.16	318.08	272.59
	423.45	409.23	313.68	249.01	210.48
	217.42	200.34	109.77	99.67	77.32
	51.86	55.91	100.97	62.18	97.64
	53.64	51.40	43.23	32.48	24.41
	4.61	4.89	0.17	0.02	0.04
	10.96	10.74	6.95	5.95	4.41
	77.61	75.49	63.82	—	34.20
	90.07	87.12	65.48	69.07	62.11
	0.00	0.00	0.00	—	—
	90.07	87.12	65.48	69.07	62.11
	23.02	22.06	16.38	17.63	16.00
	67.06	65.05	49.10	51.44	46.11
	11.95	11.64	8.96	9.38	8.41
Key metrics
	105.64	102.75	72.60	75.04	66.56
	20.78%	20.90%	19.40%	24.10%	24.90%
	13.19%	13.20%	13.10%	16.50%	17.20%
	—	17.90%	16.70%	—	—
	24.10%	31.70%	20.00%	16.40%	—
	26.27%	32.50%	-4.50%	11.60%	—
	—	16.64	-52.66	—	—
	—	0.68	1.11	—	—
	—	0.07	0.00	—	—
	—	-24.46	-43.24	—	—
	—	157.2	158.7	—	—
Balance sheet
	—	589.03	450.70	—	—
	—	387.39	278.58	—	—
	—	56.78	43.24	—	—
	—	155.25	93.30	—	—
	—	110.61	108.02	—	—
	—	11.51	18.08	—	—
	—	66.91	56.79	—	—
	—	53.89	38.74	—	—
	—	74.35	58.32	—	—
	—	32.32	0.00	—	—
	—	6.43	0.00	—	—
	—	25.89	0.00	—	—
	—	475.23	349.65	—	—
Cash flow
	—	44.45	54.27	—	—
	—	-69.75	-45.33	—	—
	—	38.83	-8.40	—	—
	—	27.81	106.93	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +22.52%
Sales CAGR 5Y: —
Profit CAGR 3Y: +12.15%
Profit CAGR 5Y: —
Sales YoY (TTM): +24.10%
Profit YoY (TTM): +26.27%

Consolidated

Sales CAGR 3Y: +22.52%
Sales CAGR 5Y: —
Profit CAGR 3Y: +12.14%
Profit CAGR 5Y: —
Sales YoY (TTM): +24.10%
Profit YoY (TTM): +26.31%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 65.18%

Quarter	September 2026	June 2026
Promoter %	65.18%	65.18%

Holder	Type	Holding	Previous	Change
SANJAY AGARWAL	Promoter	31.27%	31.27%	0.00%
BGB ITALIA S R L	Promoter Group	18.16%	18.16%	0.00%
GURJIT SINGH BAINS	Promoter	13.62%	13.62%	0.00%
SIRCA S.P.A	Public	4.16%	4.16%	0.00%
BANDHAN SMALL CAP FUND	Public	3.49%	3.43%	+0.06%
PINALI AMAR AMBANI	Public	2.73%	2.73%	0.00%
ASHA MUKUL AGRAWAL	Public	2.52%	2.52%	0.00%
APOORV AGARWAL	Promoter	1.95%	1.95%	0.00%
RESIDENT INDIVIDUALS	Public	0.08%	0.14%	-0.06%
SRISHTI AGARWAL	Promoter Group	0.06%	0.06%	0.00%
AYUSHI AGARWAL	Promoter Group	0.06%	0.06%	0.00%
ANITA AGARWAL	Promoter Group	0.06%	0.06%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Asian Paints Ltd.	2,32,126	2,420.00	47.33	23.80%	+12.37% TTM	+23.70% TTM	-2.68%
Berger Paints India Ltd	56,534	484.85	46.42	20.00%	+5.22% TTM	+6.48% TTM	-9.80%
Kansai Nerolac Paints	15,761	194.85	26.77	11.80%	+5.24% TTM	-46.49% TTM	-21.61%
JSW Dulux Limited	12,023	264.00	0.61	89.60%	-11.34% TTM	+383.53% TTM	-18.54%
Indigo Paints Limited	4,107	860.45	27.13	16.30%	+11.95% TTM	+4.72% TTM	-13.68%
Sirca Paints India Limited	2,326	409.55	34.71	17.90%	+24.10% TTM	+26.31% TTM	-19.16%
Shalimar Paints Ltd.	665	79.39	-7.56	-15.10%	-11.84% TTM	-36.60% TTM	+2.90%
Kamdhenu Ventures Limited	127	3.87	-16.68	2.30%	-8.05% TTM	-232.47% TTM	-52.16%
Retina Paints Limited S	40	26.35	62.74	5.50%	—	—	-61.25%

Filings & corporate actions

Recent announcements

Newspaper Publication- Special Window for Re-lodgement of Transfer Request of Physical Shares2 Nov 2026 · Company Update / Newspaper Publication
Sirca Paints India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/11/2026 ,inter alia, to consider and approve The Unaudited Standalone ....30 Oct 2026 · Board Meeting / Board Meeting
Please find enclosed Certificate under Regulataion 74 (5) of SEBI (DP) Regulation, 202819 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed herewith Intimation for closure of Trading Window29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed herewith the Scrutinizer''s Report along with the Voting result of AGM held on 11th August, 202612 Aug 2026 · AGM/EGM / AGM
Proceeding of the 21st Annual General Meeting of the Company Held on August 11, 202611 Aug 2026 · AGM/EGM / AGM
Please find the enclosed herewith the Newspaper Publication for Financial Result Q1 FY 2026-2729 Jul 2026 · Company Update / Newspaper Publication
Please find enclosed Certificate under Regulation 74 (5) of SEBI (DP) Regulation, 201829 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed herewith Investor Presentation for Q1 FY 2728 Jul 2026 · Company Update / Investor Presentation
Statement of Deviation or Variation in utilisation of Funds raised through Preferential Issue28 Jul 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Financial Result for the Quarter Ended June 30, 202628 Jul 2026 · Result / Financial Results
Financial Results For Quarter Ended June 30, 202628 Jul 2026 · Board Meeting / Outcome of Board Meeting
Sirca Paints India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/07/2026 ,inter alia, to consider and approve the Unaudited Standalone ....21 Jul 2026 · Board Meeting / Board Meeting
Please find the enclosed copies of Newspaper Publication for Notice of 21st AGM of the Company21 Jul 2026 · Company Update / Newspaper Publication
Please find the enclosed Business Responsibility and Sustainability Report (BRSR) for FY 2025-2620 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
ANNUAL REPORT FOR THE FY 2025-2620 Jul 2026 · Others / Reg. 34 (1) Annual Report
Intimation for the Notice of 21st AGM to be held on Tuesday, August 11, 2026 at 12:30 P.M. and Annual Report for FY 2025-2620 Jul 2026 · AGM/EGM / AGM
Please find the enclosed copies of Newspaper Publication -Notice of AGM20 Jul 2026 · Company Update / Newspaper Publication
Please find the enclosed herewith the intimation for record date17 Jul 2026 · Corp. Action / Record Date
Outcome of the Board Meeting17 Jul 2026 · Others / Outcome without intimation
Please find the enclosed Newspaper Publication for Transfer of Equity Shares of Shareholders to Investor Education and Protection fund (IEPF)15 Jul 2026 · Company Update / Newspaper Publication
Please find enclosed herewith intimation for Closure of Trading Window1 Jul 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed herewith the Intimation8 Jun 2026 · Company Update / Analyst / Investor Meet
ANNUAL SECRETARIAL COMPLIANCE REPORT FOR THE YEAR ENDED MARCH 31, 202629 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Newspaper Publication- Special Window for Re-lodgement of Transfer Requests of Physical Shares27 May 2026 · Company Update / Newspaper Publication
Please find the enclosed Financial result for the quarter and year ended March 202618 May 2026 · Company Update / General
Transcript of Earnings Call held on May 15, 202616 May 2026 · Company Update / Earnings Call Transcript
Please find enclosed herewith the Audio Recording of the Investor Concall held on Friday, May 15, 202615 May 2026 · Company Update / Analyst / Investor Meet
Please find the enclosed herewith Newspaper Publication for Q4 FY 2025-269 May 2026 · Company Update / Newspaper Publication
Please find enclosed herewith Investor Presentation for Q4 FY 267 May 2026 · Company Update / Investor Presentation
Pleae find enclosd herewith the Intimation for Conference call7 May 2026 · Company Update / Analyst / Investor Meet
Statement of Deviation or Variation in Utilisation of funds raised through Preferential Issue7 May 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Board Recommends Final Dividend of Rs. 2 Per Shares subject to the Approval of Shareholder in the ensuing Annual General Meeting7 May 2026 · Corp. Action / Dividend
Financial Results for the Quarter and Year ended March 2026 and Recommendation of Final Dividend7 May 2026 · Result / Financial Results
Outcome of Board Meeting for the quarter and year ended March 31, 20267 May 2026 · Board Meeting / Outcome of Board Meeting
Sirca Paints India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2026 ,inter alia, to consider and approve the Audited Standalone Financial ....25 Apr 2026 · Board Meeting / Board Meeting
Please find the enclosed herewith the certificate received from Company''s Registrar and Share Tranfer Agent, KFin Technologies Limited for quarter ended March 31, 2026 certifiying compliance ....10 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed herewith Intimation for Closure of Trading Window27 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
We wish to inform you that the scheduled plant visit of the Analysts/Investors at the Company's manufacturing unit located at Nathupur, Sonipat, Haryana- 131029 had been conducted during ....19 Mar 2026 · Company Update / Analyst / Investor Meet
We would like to inform you that the Board of Directors of the Company will be organising a plant visit for the analysts/ investors at Company''s Manufecturing Unit on 19th, March, 2026.11 Mar 2026 · Company Update / Analyst / Investor Meet

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 2.0000	31 Jul 2026	31 Jul 2026	—
Final Dividend - Rs. - 1.5000	4 Sep 2025	5 Sep 2025	—
Final Dividend - Rs. - 1.5000	22 Aug 2024	—	—

Board meetings

6 Nov 2026 Board Meeting - Financial Results
28 Jul 2026 Board Meeting - Financial Results