Want to see IN:SHALPAINTS full AI Analyst Report?
Shalimar Paints Ltd (SHALPAINTS) AI Stock Analysis
Shalimar Paints Ltd
(NSE:SHALPAINTS)
The score is held back primarily by weak financial performance (continued losses, equity erosion, and negative free cash flow) despite some improvement in gross margin and loss narrowing. Technicals are a supporting factor with strong trend and positive momentum, but overbought readings add near-term risk. Valuation is constrained by negative earnings (negative P/E) and no dividend yield data.
Shalimar Paints Ltd (SHALPAINTS) vs. iShares MSCI India ETF (INDA)
- Market Cap
- INR 6.61B
- Dividend Yield
- ―
- Average Volume (3M)
- 43.05K
- Price to Earnings (P/E)
- -9.6
- Beta (1Y)
- 1.16
- Revenue Growth
- -10.48%
- EPS Growth
- 0.50%
- Country
- India
- Employees
- 581
- Sector
- General
- Sector Strength
- 55
- Industry
- Chemicals - Specialty
Shalimar Paints Ltd Business Overview & Revenue Model
Company Description
Shalimar Paints Ltd. is an Indian enterprise primarily involved in the production, sale, and supply of various paint and coating solutions throughout the country. Its comprehensive product range includes decorative finishes suitable for both indoor a...
How the Company Makes Money
Shalimar Paints Ltd primarily makes money by manufacturing and selling paints and coatings. Its revenue model is largely product-sales driven: (1) Decorative/architectural coatings revenue comes from selling interior and exterior wall paints and rela...
Shalimar Paints Ltd Financial Statement Overview
Summary
Overall fundamentals remain weak: the company is still loss-making with negative operating and net margins, and equity has eroded over time. Positives include narrowing losses and a sharp gross margin rebound in FY2026 (~18% vs ~11% in FY2025), but FY2026 revenue declined (~6% YoY) and free cash flow stayed negative (~-₹60.8m), indicating the turnaround is not yet durable.
Income Statement
24NegativeBalance Sheet
46NeutralCash Flow
28Negative| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.75B | 5.76B | 5.99B | 5.35B | 4.82B | 3.58B |
| Gross Profit | 1.47B | 1.01B | 686.00M | 1.42B | 1.23B | 861.59M |
| EBITDA | -165.50M | -204.80M | -468.40M | -487.30M | -75.40M | -286.72M |
| Net Income | -648.50M | -649.50M | -801.60M | -738.50M | -361.50M | -603.51M |
Balance Sheet | ||||||
| Total Assets | 6.41B | 6.41B | 7.02B | 6.70B | 6.24B | 6.47B |
| Cash, Cash Equivalents and Short-Term Investments | 470.90M | 506.80M | 533.10M | 1.03B | 1.06B | 1.62B |
| Total Debt | 1.65B | 1.65B | 1.64B | 1.06B | 1.40B | 1.68B |
| Total Liabilities | 3.89B | 3.89B | 3.87B | 2.76B | 2.71B | 2.96B |
| Stockholders Equity | 2.51B | 2.51B | 3.15B | 3.93B | 3.53B | 3.51B |
Cash Flow | ||||||
| Free Cash Flow | -135.60M | -60.80M | -1.05B | -395.30M | -591.30M | -648.70M |
| Operating Cash Flow | -27.80M | 41.00M | -723.20M | 176.80M | -479.30M | -618.05M |
| Investing Cash Flow | -104.60M | -39.30M | -178.40M | -513.50M | -837.80M | -57.49M |
| Financing Cash Flow | 131.00M | -20.50M | 444.20M | 628.10M | -68.70M | 2.25B |
Shalimar Paints Ltd Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHALPAINTS, the sentiment is Neutral. The current price of 80.77 is above the 20-day moving average (MA) of 79.61, above the 50-day MA of 80.43, and above the 200-day MA of 63.16, indicating a neutral trend. The MACD of 0.38 indicates Negative momentum. The RSI at 48.75 is Neutral, neither overbought nor oversold. The STOCH value of 61.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SHALPAINTS.
Shalimar Paints Ltd Peers Comparison
Overall Rating
IN:SIRCA74Outperform
IN:INDIGOPNTS73Outperform
IN:KANSAINER65.6Neutral
IN:BERGEPAINT59Neutral
IN:ASIANPAINT54Neutral- IN:SHALPAINTS49Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IN:SIRCA | 74Outperform | INR 23.02B | 34.07 | ― | 0.49% | 24.10% | 22.46% |
| IN:INDIGOPNTS | 73Outperform | INR 47.64B | 29.54 | ― | 0.50% | 9.51% | 13.64% |
| IN:KANSAINER | 66Neutral | INR 142.72B | 23.76 | ― | 1.42% | 5.24% | -47.04% |
| IN:BERGEPAINT | 59Neutral | INR 542.25B | 44.55 | ― | 0.86% | 5.22% | 6.57% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| IN:ASIANPAINT | 54Neutral | INR 2.22T | 45.96 | ― | 1.19% | 12.37% | 24.22% |
| IN:SHALPAINTS | 49Neutral | INR 6.66B | -9.59 | ― | ― | -10.48% | 0.50% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| IN:SHALPAINTS | Shalimar Paints Ltd | 79.50 | 1.15 | 1.47% | |
| IN:ASIANPAINT | Asian Paints Ltd. | 2315.00 | -171.76 | -6.91% | |
| IN:BERGEPAINT | Berger Paints India Limited | 465.05 | -70.01 | -13.08% | |
| IN:INDIGOPNTS | Indigo Paints Ltd | 998.10 | -2.11 | -0.21% | |
| IN:KANSAINER | Kansai Nerolac Paints Limited | 176.45 | -69.67 | -28.31% | |
| IN:SIRCA | Sirca Paints India Ltd. | 405.30 | -114.49 | -22.03% |
Shalimar Paints Ltd Corporate Events
Shalimar Paints Shareholders Clear Preferential Equity Issue at EGM
Shalimar Paints Ltd is an Indian coatings manufacturer operating in the decorative and industrial paints segment, serving residential, commercial and infrastructure markets. The company is listed on BSE and NSE, trading under the symbol SHALPAINTS, a...
Shalimar Paints Unveils Aggressive Fundraising and Strategic Tie-Up Plan with Hella Infra Market
Shalimar Paints Ltd’s board has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, while also appointing Kundan Sangwar as chief financial officer to strengthen its financial leadership. Th...
Shalimar Paints Sets September 11 EGM With Remote E-Voting
Shalimar Paints Limited has scheduled an Extraordinary General Meeting (EGM) of its shareholders to be held via video conference on September 11, 2026, at 12:30 p.m. The meeting will consider four resolutions, underscoring an active phase of corporat...
Shalimar Paints Corrects Figures in Preferential Issue Board Outcome
Shalimar Paints has issued a revised outcome of its August 12, 2026 board meeting, correcting a calculation error in the aggregate consideration for a planned preferential issue of up to 81,12,02,664 CCPS at an issue price of ₹85 per share. The...
Shalimar Paints Publishes Notices for 124th AGM and E-Voting Details
Shalimar Paints Ltd. has published newspaper notices detailing the convening of its 124th Annual General Meeting, to be held on September 9, 2026, via video conferencing and other audio-visual means. The AGM notice, including e-voting information for...
Shalimar Paints Gets BSE, NSE Nod to Reclassify Minor Promoter Holdings as Public
Shalimar Paints Ltd has received approvals from BSE and the National Stock Exchange of India for the reclassification of certain shareholders from the promoter and promoter group category to the public category. The shareholders concerned, largely ho...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 17, 2026