Shalimar Paints quarterly results and financials

Shalimar Paints (SHALPAINTS)₹81.07+0.36%(9 Nov 2026 close)Paints

Key facts

In the Sep 2026 quarter (consolidated), Shalimar Paints reported sales of ₹116 Cr, down 13.3% from Sep 2025, and net profit of −₹32.92 Cr. For the year to Mar 2026, sales were ₹575 Cr and net profit −₹64.88 Cr.

Sales (Sep 2026): ₹116 Cr
Net profit (Sep 2026): −₹32.92 Cr
Sales (FY Mar 2026): ₹575 Cr
Net profit (FY Mar 2026): −₹64.88 Cr
EPS (Sep 2026): ₹−3.88
Borrowings (Mar 2026): ₹165 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Shalimar Paints quarterly results

₹ crore unless stated; each column is a quarter.

Shalimar Paints Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	146	144	128	145	148	178	155	134	131	156	138	116
Expenses	153	167	150	158	164	185	162	140	142	154	150	139
Operating Profit	−6.98	−21.92	−20.91	−12.95	−15.95	−6.97	−7.97	−5.98	−10.96	1.99	−11.95	−22.92
OPM %	−4.8%	−16.0%	−16.0%	−9.0%	−11.0%	−4.1%	−4.9%	−4.7%	−8.0%	1.3%	−9.0%	−20.0%
Other Income	2.01	3.01	1.01	1.01	1.01	7.01	2.01	3.01	−4.01	1.01	1.01	1.01
Interest	1.99	1.99	2.99	3.99	4.98	4.98	5.98	5.98	6.98	5.98	4.98	4.99
Depreciation	4.01	4.01	4.01	4.01	4.01	4.01	5.01	5.01	5.01	5.01	5.01	5.01
Profit before tax	−11.99	−25.99	−27.02	−20.02	−25.02	−10.01	−17.01	−13.99	−27.01	−8.01	−20.99	−33.01
Tax %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	−6.0%	0.0%	0.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−4.99	0.00	0.00	0.00
Net Profit	−11.97	−25.94	−26.92	−19.96	−24.93	−9.97	−16.95	−13.95	−26.94	−6.99	−20.94	−32.92
EPS (Rs)	−1.37	−3.15	−3.22	−2.33	−2.92	−1.13	−1.99	−1.68	−3.17	−0.87	−2.53	−3.88

Shalimar Paints profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Shalimar Paints Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	384	350	271	288	344	326	358	484	534	600	575	541
Expenses	355	336	306	350	378	322	382	500	590	658	599	586
Operating Profit	29.90	13.95	−33.88	−60.74	−33.89	3.98	−21.90	−14.95	−53.79	−57.74	−21.92	−43.84
OPM %	8.0%	4.1%	−13.0%	−21.0%	−10.0%	1.1%	−6.0%	−3.0%	−10.0%	−10.0%	−3.9%	−8.1%
Other Income	1.01	1.01	1.01	−14.03	8.02	5.01	−3.01	7.02	8.02	10.02	2.01	−0.98
Interest	21.91	22.91	25.89	24.92	19.95	18.93	21.94	15.95	12.95	17.93	24.90	22.93
Depreciation	5.01	8.01	8.02	9.01	11.02	13.01	13.03	13.01	15.03	16.02	20.03	20.04
Profit before tax	3.99	−15.02	−66.99	−109	−56.05	−23.99	−61.01	−36.03	−73.99	−81.06	−65.02	−89.02
Tax %	−23.0%	−36.0%	−32.0%	−25.0%	−32.0%	110.0%	−1.0%	0.0%	0.0%	0.0%	−1.0%	—
Exceptional items	0.00	−0.99	0.00	−15.96	6.98	0.00	−6.99	0.00	0.99	0.00	−4.99	−4.99
Net Profit	4.99	−9.97	−45.85	−81.81	−37.89	−49.89	−59.82	−35.89	−73.83	−80.75	−64.88	−87.79
EPS (Rs)	0.92	−1.71	−8.09	−15.24	−7.02	−9.17	−8.35	−5.00	−8.81	−9.69	−7.75	−10.45
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Shalimar Paints balance sheet

₹ crore, at each year end.

Shalimar Paints Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3.99	3.99	3.99	3.99	10.99	10.99	10.98	14.00	14.00	16.99	16.98	16.98
Reserves	58.03	62.01	180	134	295	262	212	336	338	376	298	234
Borrowings	130	137	171	179	154	121	131	168	140	106	164	165
Other Liabilities	192	189	181	178	136	142	152	129	135	171	224	226
Total Liabilities	383	392	536	495	595	537	506	648	628	671	703	642
Fixed Assets	75.94	74.95	222	250	246	295	283	276	272	275	303	300
CWIP	0.99	5.98	13.96	0.99	23.95	0.00	0.00	0.00	1.99	34.91	26.96	0.00
Investments	0.00	0.00	3.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	306	312	297	245	326	242	223	372	354	361	373	342
Inventories	106	111	93.09	74.03	70.99	87.13	89.09	95.07	117	116	134	102
Trade receivables	154	143	125	106	98.85	71.92	79.87	77.90	108	111	147	138
Cash & equivalents	1.01	9.03	12.06	19.06	91.31	5.02	8.03	163	23.08	56.21	45.15	47.15
Total Assets	383	392	536	495	595	537	506	648	628	671	703	642

Shalimar Paints cash flow

₹ crore, for each year.

Shalimar Paints Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	37.98	38.01	33.99	35.97	−94.02	−8.99	15.99	−61.94	−47.97	18.01	−58.96	22.98
Cash from investing activity	−26.06	−7.02	−16.03	−11.02	−34.11	−28.07	−5.02	−6.02	−84.19	−51.15	−16.05	−1.01
Cash from financing activity	−15.94	−22.94	−18.95	−17.96	198	−45.86	−10.96	224	−6.97	43.86	28.93	−24.92
Net cash flow	−2.99	7.97	−0.99	6.97	69.71	−82.71	0.00	156	−139	10.96	−45.81	−1.99
Capex	28.27	8.37	13.56	14.42	33.20	32.73	2.03	3.06	11.18	57.12	33.38	10.17
Free cash flow	10.99	28.99	23.97	21.97	−127	−41.99	13.99	−64.98	−58.97	−37.95	−83.90	12.99
CFO / OP %	429.9%	125.0%	240.9%	−104.0%	152.9%	27.9%	442.9%	274.9%	321.9%	−32.1%	100.9%	−101.1%

Shalimar Paints ratios

Working-capital days and returns, by year.

Shalimar Paints Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	135	136	130	142	126	76	89	80	81	76	90	88
Inventory days	127	155	140	130	119	137	147	131	121	111	113	97
Days payable	188	219	194	245	163	152	184	134	103	135	162	167
Cash conversion cycle	72	71	74	27	81	60	51	76	97	51	40	17
Working capital days	4	8	−25	−138	−80	−51	−66	−1	58	30	−28	−75
ROCE %	2.0%	13.0%	3.0%	−12.0%	−18.0%	−10.0%	−1.0%	−7.0%	−4.0%	−13.1%	−13.0%	−8.0%

Shalimar Paints: frequently asked questions

What are the latest quarterly results of Shalimar Paints?

For the Sep 2026 quarter, Shalimar Paints reported sales of ₹116 Cr, down 13.3% year on year and net profit of −₹32.92 Cr. The operating margin was −20.0%.

What is the annual revenue of Shalimar Paints?

Shalimar Paints' sales for the year to Mar 2026 were ₹575 Cr; over the last twelve months they were ₹541 Cr.

What is the net profit of Shalimar Paints?

Net profit for the year to Mar 2026 was −₹64.88 Cr, and −₹87.79 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−10.45.

How much debt does Shalimar Paints have?

Shalimar Paints reported borrowings of ₹165 Cr at Mar 2026, against cash and equivalents of ₹47.15 Cr.

What is the free cash flow of Shalimar Paints?

Cash from operations was ₹22.98 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹12.99 Cr.

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