Shalimar Paints Ltd (SHALPAINTS) AI Stock Analysis

• Market Cap: ₹6.70B
• Dividend Yield: N/A
• Average Volume (3M): 40.24K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: 16.10%
• EPS Growth: 26.30%
• Country: IN
• Employees: 896
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): -1.99
• Shares Outstanding: 83,711,180
• 10 Day Avg. Volume: 15,769
• 30 Day Avg. Volume: 40,240
• PEG Ratio: -25.78
• Price to Book (P/B): 2.76
• Price to Sales (P/S): 1.45
• P/FCF Ratio: -8.31
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹80.00
• Price Target Upside: -0.02% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 45 Neutral
• Price Target: ₹80.00 ▼(-0.02% Downside)

Shalimar Paints Ltd's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. While technical analysis shows some neutral to slightly bullish signals, the financial struggles and negative P/E ratio significantly weigh down the score.

Shalimar Paints Ltd Business Overview & Revenue Model

Company Description

Shalimar Paints Limited engages in manufacturing, selling, and distributing paints and coatings in India. The company offers decorative paints for interior and exterior surfaces; industrial paints; marine paints, including antifouling paints; packaging coatings for metal decoration; and emulsions, distempers, primers, putty, enamels, varnishes, and lacquers. The company markets its products under the Weather Pro, Xtra Tough Premier, Shaktiman, Signature, Stay Clean, Superlac Advance, No 1 Silk and Master, and NO.1 Distemper brand names. The company was formerly known as Shalimar Paint Colour & Varnish Co. Ltd. and changed its name to Shalimar Paints Limited in September 1963. Shalimar Paints Limited was incorporated in 1902 and is based in Gurugram, India.

How the Company Makes Money

Shalimar Paints Ltd generates revenue primarily through the sale of its paints and coatings products. The company operates a well-established distribution network that includes dealers, retailers, and direct sales to large-scale projects. The company's key revenue streams include decorative paints, which are used in residential and commercial buildings, and industrial coatings for sectors such as automotive, marine, and infrastructure. In addition to product sales, Shalimar Paints may engage in strategic partnerships with real estate developers and contractors to secure bulk orders, contributing to its earnings. The company also invests in marketing and brand-building activities to strengthen its market presence and drive sales.

Shalimar Paints Ltd Financial Statement Overview

Summary

Shalimar Paints Ltd is facing financial difficulties with negative profitability and cash flow challenges. Despite revenue growth, the company struggles with maintaining positive margins and efficient cash management. The balance sheet shows manageable leverage, but overall financial health requires improvement.

Income Statement

Shalimar Paints Ltd has shown inconsistent revenue growth with a recent increase from 5306M to 5990M (12.9% growth). However, profitability remains a concern with negative net income and declining gross profit margins (from 25.9% to 11.4% in the latest period). Both EBIT and EBITDA margins are negative, indicating operational struggles.

Balance Sheet

The company's debt-to-equity ratio is manageable, reflecting a balance between debt and equity. However, stockholders' equity has decreased, leading to a lower ROE and a slight increase in liabilities. The equity ratio is relatively stable at around 44.8%, suggesting a mildly leveraged position.

Cash Flow

The cash flow situation is challenging, with negative free cash flow and operating cash flow. The free cash flow has deteriorated significantly, indicating cash management issues. The ratios of operating cash flow to net income and free cash flow to net income are unfavorable, highlighting inefficiencies in cash utilization.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.24B	5.99B	5.35B	4.82B	3.58B	3.24B
Gross Profit	1.55B	686.00M	1.42B	1.23B	861.59M	1.00B
EBITDA	-325.10M	-468.40M	-487.30M	-75.40M	-286.70M	65.40M
Net Income	-697.90M	-801.60M	-738.50M	-361.50M	-603.51M	-498.63M
Balance Sheet
Total Assets	0.00	7.02B	6.70B	6.24B	6.47B	5.06B
Cash, Cash Equivalents and Short-Term Investments	567.60M	533.10M	1.03B	1.06B	1.62B	76.74M
Total Debt	0.00	1.64B	1.06B	1.40B	1.68B	1.31B
Total Liabilities	-3.15B	3.87B	2.76B	2.71B	2.96B	2.83B
Stockholders Equity	3.15B	3.15B	3.93B	3.53B	3.51B	2.23B
Cash Flow
Free Cash Flow	0.00	-1.05B	-395.30M	-591.30M	-648.70M	138.60M
Operating Cash Flow	0.00	-723.20M	176.80M	-479.30M	-618.05M	159.02M
Investing Cash Flow	0.00	-178.40M	-513.50M	-837.80M	-57.49M	-49.41M
Financing Cash Flow	0.00	444.20M	628.10M	-68.70M	2.25B	-111.18M

Shalimar Paints Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 80.02
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHALPAINTS, the sentiment is Negative. The current price of 80.02 is below the 20-day moving average (MA) of 81.72, above the 50-day MA of 76.93, and below the 200-day MA of 100.06, indicating a neutral trend. The MACD of 0.61 indicates Positive momentum. The RSI at 49.55 is Neutral, neither overbought nor oversold. The STOCH value of 12.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SHALPAINTS.

Shalimar Paints Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHREEPUSHK	67 Neutral	₹13.00B	19.46	―	0.50%	16.35%	55.49%
BHAGERIA	66 Neutral	₹7.55B	14.81	―	0.87%	33.39%	85.08%
DECCANCE	64 Neutral	₹14.64B	72.96	―	0.06%	-35.17%	-22.63%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SHIVALIK	54 Neutral	₹6.43B	42.35	―	0.12%	15.29%	25.94%
BODALCHEM	52 Neutral	₹7.50B	25.66	―	0.17%	19.75%	845.31%
SHALPAINTS	45 Neutral	₹6.70B	―	―	―	16.10%	26.30%