Ultramarine & Pigments Ltd.

BSE: ULTRAMAR506685ISIN INE405A01021

Commodities
Dyes And Pigments
BSE Commodities

Share price

₹365.05+10.60 (+2.99%)

as of 4 Nov 2026

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

52W high: ₹473.70
52W low: ₹348.00
Off 52W high: -22.94%
1M return: -9.85%
3M return: -6.74%
6M return: -10.65%
1Y return: -18.19%
20D avg volume: 3,527
50 DMA: ₹405.18
200 DMA: ₹403.84

Key ratios Consolidated

Market cap: ₹1,066 Cr
Current price: ₹365.05
52W high / low: ₹473.70 / ₹348.00
Face value: ₹2.00
P/E: 11.56
P/B: 1.23
EPS (TTM): ₹31.57
Book value / share: ₹297.90
ROE: —
ROCE: 11.70%
Operating margin: —
Net margin: —
Debt / equity: 0.09
Net debt: ₹70.61 Cr
Interest cover: 18.07
Dividend yield: 1.64%
Dividend / share (TTM): ₹6.00
Payout: 19.01%
Cash conversion cycle: 48.4 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
	239.96	198.71	195.60	196.07	184.38	194.77	178.51	160.89	160.54	135.62	148.22	146.29
	5.72	2.99	3.43	2.39	2.83	2.94	2.29	4.33	2.82	1.95	1.69	4.93
	245.68	201.70	199.03	198.46	187.21	197.71	180.80	165.22	163.36	137.57	149.91	151.22
	203.30	181.49	169.33	172.65	160.66	174.73	150.50	141.01	141.30	123.35	132.64	129.26
	151.19	112.47	112.95	115.76	111.20	105.89	90.87	95.50	88.15	66.54	78.52	83.91
	0.00	0.00	0.00	0.00	0.00	5.24	1.50	1.63	2.09	—	—	—
	21.22	21.08	20.08	20.37	19.24	19.97	18.04	17.43	16.63	17.39	16.23	16.63
	1.47	1.52	1.31	1.63	1.67	1.52	1.93	1.60	1.70	1.67	1.65	1.68
	7.34	7.46	6.81	6.60	6.40	6.79	6.12	5.70	5.54	5.83	5.76	5.49
	34.27	33.44	30.97	32.51	28.30	31.49	20.77	19.17	17.30	18.41	17.76	17.19
	42.38	20.21	29.70	25.81	26.55	22.98	30.30	24.21	22.06	14.22	17.27	21.96
	0.00	-1.83	4.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	42.38	18.38	33.93	25.81	26.55	22.98	30.30	24.21	22.06	14.22	17.27	21.96
	10.79	4.23	6.84	6.45	6.36	5.96	7.47	5.58	5.52	3.35	4.33	4.71
	31.59	14.15	27.09	19.36	20.19	17.02	22.83	18.63	16.54	10.87	12.94	17.25
	10.82	4.85	9.28	6.63	6.91	5.83	7.82	6.38	5.66	3.72	4.43	5.91
Key metrics
	51.19	27.36	42.05	34.04	34.62	31.29	38.35	31.51	29.30	21.72	24.68	29.13
	21.30%	13.80%	21.50%	17.40%	18.80%	16.10%	21.50%	19.60%	18.30%	16.00%	16.70%	19.90%
	13.20%	7.10%	13.80%	9.90%	11.00%	8.70%	12.80%	11.60%	10.30%	8.00%	8.70%	11.80%
	—	2.10%	—	2.30%	—	2.30%	—	—	—	—	—	—
	30.10%	2.00%	9.60%	21.90%	14.80%	43.60%	20.40%	10.00%	—	—	—	—
	56.50%	-16.90%	18.70%	3.90%	22.10%	56.60%	76.40%	8.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	830.34	774.77	694.71	560.65	556.60	490.41
	14.53	11.64	12.39	10.38	11.48	9.04
	844.87	786.41	707.10	571.03	568.08	499.45
	726.77	684.14	607.53	495.47	477.17	421.84
	492.37	452.37	380.41	292.03	295.06	289.82
	0.00	0.00	10.45	1.52	10.59	—
	82.75	80.95	72.07	66.12	71.13	51.23
	5.93	6.13	6.75	6.60	4.50	2.96
	28.21	27.27	24.15	22.11	16.90	11.90
	131.19	125.06	115.26	68.80	98.56	74.85
	118.10	102.27	99.57	75.56	90.91	77.61
	2.40	2.40	0.00	0.00	0.00	0.00
	120.50	104.67	99.57	75.56	90.91	77.61
	28.31	23.90	24.52	17.96	21.71	19.31
	92.19	80.77	75.05	57.60	69.20	58.30
	31.58	27.66	25.70	19.72	23.70	19.97
Key metrics
	154.64	138.07	130.47	104.27	112.31	92.47
	18.62%	17.80%	18.80%	18.60%	20.20%	18.90%
	11.10%	10.40%	10.80%	10.30%	12.40%	11.90%
	—	11.70%	9.90%	—	—	—
	15.56%	11.50%	23.90%	0.70%	13.50%	—
	17.19%	7.60%	30.30%	-16.80%	18.70%	—
	—	60.46	37.54	—	—	—
	—	1.59	1.20	—	—	—
	—	0.09	0.09	—	—	—
	—	70.61	26.53	—	—	—
	—	48.4	61.3	—	—	—
Balance sheet
	—	1,094	1,173	—	—	—
	—	301.35	289.53	—	—	—
	—	8.72	59.26	—	—	—
	—	80.26	80.62	—	—	—
	—	107.04	88.40	—	—	—
	—	17.37	17.86	—	—	—
	—	341.59	301.26	—	—	—
	—	84.48	52.31	—	—	—
	—	146.55	98.98	—	—	—
	—	79.33	85.79	—	—	—
	—	29.79	18.87	—	—	—
	—	49.54	66.92	—	—	—
	—	869.87	973.24	—	—	—
Cash flow
	—	128.27	89.91	—	—	—
	—	-148.00	-41.69	—	—	—
	—	-31.17	-32.97	—	—	—
	—	67.81	52.37	—	—	—

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
	218.87	179.68	177.75	180.87	168.67	181.94	163.51	153.66	151.70	125.50	139.64	137.36
	5.65	2.98	3.46	5.12	2.96	2.40	2.39	4.60	3.09	2.28	1.99	5.23
	224.52	182.66	181.21	185.99	171.63	184.34	165.90	158.26	154.79	127.78	141.63	142.59
	186.50	164.56	156.09	160.01	149.37	162.70	139.36	134.62	133.55	114.32	125.08	122.42
	144.29	107.17	108.61	109.98	109.11	102.34	85.73	91.15	86.37	64.81	77.20	80.75
	0.00	0.00	0.00	0.00	0.00	6.25	4.64	3.39	2.09	0.85	—	0.17
	19.50	19.92	18.85	19.21	18.13	18.82	16.87	16.40	15.72	16.58	15.35	15.81
	0.41	0.55	0.53	0.60	0.77	0.74	0.85	0.87	0.92	0.96	0.99	0.93
	4.93	5.30	4.67	4.58	4.46	4.32	4.24	4.22	4.16	4.23	4.16	4.18
	27.81	26.95	25.68	27.06	23.58	26.43	18.20	16.79	15.17	16.34	16.06	15.16
	38.02	18.10	25.12	25.98	22.26	21.64	26.54	23.64	21.24	13.46	16.55	20.17
	0.00	-1.86	4.26	0.00	0.00	0.00	—	—	—	—	—	—
	38.02	16.24	29.38	25.98	22.26	21.64	26.54	23.64	21.24	13.46	16.55	20.17
	10.05	3.86	6.06	5.99	5.63	5.77	6.80	5.46	5.37	3.24	4.22	4.34
	27.97	12.38	23.32	19.99	16.63	15.87	19.74	18.18	15.87	10.22	12.33	15.83
	9.58	4.24	7.99	6.85	5.70	5.44	6.76	6.23	5.43	3.50	4.23	5.42
Key metrics
	43.36	22.09	34.58	31.16	27.49	26.70	31.63	28.73	26.32	18.65	21.70	25.28
	19.80%	12.30%	19.50%	17.20%	16.30%	14.70%	19.30%	18.70%	17.40%	14.90%	15.50%	18.40%
	12.80%	6.90%	13.10%	11.10%	9.90%	8.70%	12.10%	11.80%	10.50%	8.10%	8.80%	11.50%
	—	1.90%	—	2.40%	—	2.20%	—	—	—	—	—	—
	29.80%	-1.20%	8.70%	17.70%	11.20%	45.00%	17.10%	11.90%	—	—	—	—
	68.20%	-22.00%	18.10%	10.00%	4.80%	55.30%	60.10%	14.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	757.17	706.97	650.81	525.53	541.41	491.02
	17.21	14.52	12.49	11.68	12.30	9.04
	774.38	721.49	663.30	537.21	553.71	500.06
	667.16	630.03	570.23	466.24	466.17	422.43
	470.05	434.87	365.59	284.37	290.77	290.42
	0.00	0.00	16.38	2.54	10.59	—
	77.48	76.12	67.81	63.05	68.51	51.23
	2.09	2.45	3.38	3.71	3.01	2.96
	19.48	19.01	16.95	16.39	13.92	11.90
	107.50	103.27	99.33	61.70	93.51	74.84
	107.22	91.46	93.07	70.97	87.54	77.63
	2.40	2.40	0.00	—	—	—
	109.62	93.86	93.07	70.97	87.54	77.63
	25.96	21.54	23.40	17.14	21.07	19.30
	83.66	72.32	69.67	53.83	66.47	58.33
	28.66	24.77	23.86	18.43	22.76	19.97
Key metrics
	131.19	115.32	113.40	91.07	104.47	92.49
	17.33%	16.30%	17.40%	17.30%	19.30%	18.80%
	11.05%	10.20%	10.70%	10.20%	12.30%	11.90%
	—	10.90%	9.60%	—	—	—
	13.39%	8.60%	23.80%	-2.90%	10.30%	—
	18.80%	3.80%	29.40%	-19.00%	14.00%	—
	—	61.86	46.80	—	—	—
	—	1.44	0.99	—	—	—
	—	0.02	0.03	—	—	—
	—	4.94	-29.03	—	—	—
	—	43.2	58.5	—	—	—
Balance sheet
	—	993.04	1,092	—	—	—
	—	270.53	256.97	—	—	—
	—	11.73	55.81	—	—	—
	—	73.62	78.71	—	—	—
	—	87.58	75.13	—	—	—
	—	6.24	8.90	—	—	—
	—	189.01	171.69	—	—	—
	—	77.41	49.34	—	—	—
	—	113.09	82.57	—	—	—
	—	16.67	26.78	—	—	—
	—	9.55	10.14	—	—	—
	—	7.12	16.64	—	—	—
	—	849.68	961.57	—	—	—
Cash flow
	—	103.93	68.81	—	—	—
	—	-117.24	-2.49	—	—	—
	—	-31.13	-52.88	—	—	—
	—	42.07	22.01	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +9.30%
Sales CAGR 5Y: —
Profit CAGR 3Y: +2.85%
Profit CAGR 5Y: —
Sales YoY (TTM): +13.39%
Profit YoY (TTM): +18.80%

Consolidated

Sales CAGR 3Y: +11.65%
Sales CAGR 5Y: —
Profit CAGR 3Y: +5.29%
Profit CAGR 5Y: —
Sales YoY (TTM): +15.56%
Profit YoY (TTM): +17.19%

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: 35.49%

Holder	Type	Holding	Previous	Change
THIRUMALAI CHEMICALS LIMITED	Promoter	9.38%	—	—
SHIVANI TEJAS TRIVEDI	Public	4.88%	—	—
SAMPATH FAMILY TRUST	Promoter	4.37%	—	—
SUJATA SAMPATH FAMILY TRUST	Promoter	4.37%	—	—
INDIRA SUNDARARAJAN	Promoter	3.67%	—	—
BHOOMA PARTHASARATHY FAMILY TRUST	Promoter	3.35%	—	—
R PARTHASARATHY FAMILY TRUST	Promoter	3.35%	—	—
VARADARAJAN SANTHANAM	Promoter Group	2.68%	—	—
ANVIL SHARE AND STOCK BROKING PVT LTD	Public	2.60%	—	—
GYMKHANA PARTNERS L.P.	Public	1.41%	—	—
NEHAL VINOD SHAH	Public	1.29%	—	—
VINOD MAGANLAL SHAH	Public	1.17%	—	—
SWAYAM RAJIV DOSHI	Public	1.03%	—	—
NARAYAN SANTHANAM	Promoter Group	0.89%	—	—
MEERA PARTHASARATHY FAMILY TRUST	Promoter Group	0.81%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Sudarshan Chemical Indus. Ltd.	8,524	1,070.60	95.56	4.30%	+90.13% TTM	+4.06% TTM	-7.78%
KIRI INDUSTRIES LIMITED	3,411	523.35	0.58	89.10%	+10.71% TTM	+3,100.78% TTM	-2.89%
Bodal Chemicals Ltd	2,139	169.80	14.84	8.30%	+44.89% TTM	+306.66% TTM	+178.36%
Shree Pushkar Chemicals & Fertilisers Limited	1,926	595.60	21.50	13.10%	+21.62% TTM	+25.09% TTM	+51.19%
Bhageria Industries Limited	1,545	354.10	13.82	9.10%	+75.45% TTM	+128.86% TTM	+65.62%
Ultramarine & Pigments Ltd.	1,066	365.05	11.56	11.70%	+15.56% TTM	+17.19% TTM	-18.19%
Sudarshan Colorants India Limited S	875	378.95	15.72	10.00%	+6.26% TTM	-9.11% TTM	-25.40%
Asahi Songwon Colors Ltd.	437	371.15	12.79	10.40%	-0.60% TTM	+127.01% TTM	+31.82%
AksharChem (India) Ltd. S	293	364.80	10.19	0.80%	+32.59% TTM	+1,396.88% TTM	+38.58%
Poddar Pigments Ltd. S	263	248.00	17.78	5.80%	+4.50% TTM	-17.19% TTM	-9.82%
HINDPRAKASH INDUSTRIES LIMITED S	134	117.70	38.34	10.60%	+1.82% TTM	+137.16% TTM	-16.52%

Filings & corporate actions

Recent announcements

Ultramarine & Pigments Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2026 ,inter alia, to consider and approve the Unaudited Financials ....27 Oct 2026 · Board Meeting / Board Meeting
Intimation of receipt of request under Regulation 31A of SEBI -LODR.23 Oct 2026 · Others
Enclosed the certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 from the RTA of the Company for the quarter ended 30th September, 20266 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Thirumalai Chemicals Ltd5 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Thirumalai Chemicals Ltd5 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, Trading window will remain closed for all the designated and connected persons from 1st October, 2026 in connection ....26 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Thirumalai Chemicals Ltd3 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Thirumalai Chemicals Ltd3 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Newspaper publication of the unaudited financial results for the quarter ended 30th June, 202610 Aug 2026 · Company Update / Newspaper Publication
Unaudited standalone and consolidated financial results for the quarter ended 30th June, 2026 approved by the Board of Directors at its meeting held on 07th August, 2026.7 Aug 2026 · Result / Financial Results
The Board of Directors at its meeting held today considered and approved the unaudited financial results (standalone & consolidated) for the quarter ended 30th June, 20267 Aug 2026 · Board Meeting / Outcome of Board Meeting
Ultramarine & Pigments Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/08/2026 ,inter alia, to consider and approve the Unaudited Financials ....27 Jul 2026 · Board Meeting / Board Meeting
Outcome of remote e-voting and e-voting at the 65th Annual General Meeting held on 22nd July, 202623 Jul 2026 · AGM/EGM / AGM
Summary of proceedings of the 65th Annual General Meeting of the Company22 Jul 2026 · AGM/EGM / AGM
Enclosed the certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 from the RTA of the Company for the quarter ended 30th June, 20266 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, enclosed a copy of the newspaper publications of the notice given to shareholders in accordance with applicable provisions of ....1 Jul 2026 · Company Update / Newspaper Publication
Pursuant to Regulation 36(1)(b) of the Listing Regulations, letter to Shareholders has been issued via post providing the web link and QR code for accessing the Notice of the 65th Annual ....30 Jun 2026 · Company Update / General
Pursuant SEBI (Prohibition of Insider Trading) Regulations, 2015, Trading window will remain closed for all the promoters, directors, designated and connected persons from 1st July, 2026 ....27 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Notice of the 65th AGM and the Integrated Annual Report of the Company for the financial year 2025-26 is being sent through electronic mode to all those members of the Company whose Email ....27 Jun 2026 · Others / Reg. 34 (1) Annual Report
Notice of the 65th Annual General Meeting and Integrated Annual Report of the Company for the financial year 2025-2627 Jun 2026 · AGM/EGM / AGM
News paper advertisement: Notice given to Shareholders in accordance with applicable provisions of listing regulations and the Companies Act,2013 read with Rules made thereunder, inter ....12 Jun 2026 · Company Update / Newspaper Publication
Newspaper publication regarding notice to shareholders for the shares to be transferred to IEPF pursuant to the provisions of Investor Education and Protection Fund Authority (Accounting, ....6 Jun 2026 · Company Update / Newspaper Publication
Annual Secretarial Compliance report for the financial year 2025-2623 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
The Board of Directors at its meeting held on 20th May, 2026 has approved the greenfield project for manufacture of inorganic pigments at SIPCOT industrial park, Manapparai, TN.21 May 2026 · Company Update / General
Newspaper publication of the audited financial results for the quarter and year ended 31st March 202621 May 2026 · Company Update / Newspaper Publication
The Board of Directors at its meeting held today considered and approved the audited financial results (standalone & consolidated) for the quarter and year ended 31st march 2026 and recommended ....20 May 2026 · Company Update / Revision of outcome
The Board of Directors at its meeting held today has approved the greenfield project for the manufacture of pigments at SIPCOT Industrial Estate, Manapparai, TN.20 May 2026 · Company Update / General
The Board at its meeting held today has decided to convene the 65th AGM on Wednesday 22nd July, 202620 May 2026 · AGM/EGM / AGM
The Board has fixed 14th July, 2026 as the record date for payment of dividend for the FY 25-2620 May 2026 · Corp. Action / Record Date
The Board has recommended a final dividend of Rs. 6 per equity share to the shareholders for the FY 25-2620 May 2026 · Corp Action / Dividend/AGM
The Board of Directors at its meeting held today considered and approved the audited financial results (standalone & consolidated) for the quarter and year ended 31st march 2026 and recommended ....20 May 2026 · Board Meeting / Outcome of Board Meeting
Ultramarine & Pigments Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 20/05/2026 ,inter alia, to consider and approve i) Standalone & Consolidated ....11 May 2026 · Board Meeting / Board Meeting
In terms of Regulation 30 of SEBI (LODR) - this is to inform that the company has entered into a loan agreement with Thirumalai Chemicals Limited, a related party.30 Apr 2026 · Company Update / General
Newspaper publication regarding special window for re-lodgment of transfer request and dematerialization of physical shares22 Apr 2026 · Company Update / Newspaper Publication
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. <table border=''1px''><tr> <td>Sr. No.</td> <td>Particulars</td> <td>Details</td> ....21 Apr 2026 · Others / Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Enclosed the certificate under Regulation 74(5) of SEBI(DP) Regulations, 2018, from the RTA of the Company for the quarter ended 31st March, 20267 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to SEBI (Prohibition of Insider Trading)Regulations, 2015, the trading window for dealing in the shares of the Company will be closed for all Promoters, Directors, connected and ....27 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December, 2025. Revision in Financial results disclosure published on 11th February, ....6 Mar 2026 · Result / Financial Results
Newspaper publication of the financial results for the quarter and nine months ended 31st December, 202512 Feb 2026 · Company Update / Newspaper Publication
The Board of Directors at its meeting held today considered and approved the unaudited financial results (standalone & consolidated) for the quarter and nine months ended 31st December, 2025.11 Feb 2026 · Board Meeting / Outcome of Board Meeting

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 6.0000	14 Jul 2026	14 Jul 2026	—
Final Dividend - Rs. - 6.0000	16 Jul 2025	16 Jul 2025	—
Dividend - Rs. - 5.0000	18 Jul 2024	—	—

Board meetings

5 Nov 2026 Board Meeting - Financial Results
7 Aug 2026 Board Meeting - Financial Results