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Ultramarine & Pigments (ULTRAMAR)₹400.20+1.27%Dyes And Pigments
In the Jun 2026 quarter (consolidated), Ultramarine & Pigments reported sales of ₹240 Cr, up 30.4% from Jun 2025, and net profit of ₹31.95 Cr, up 59.8% year on year. For the year to Mar 2026, sales were ₹776 Cr and net profit ₹80.95 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 146 | 148 | 136 | 161 | 161 | 179 | 195 | 184 | 196 | 196 | 199 | 240 |
| Expenses | 122 | 125 | 116 | 134 | 134 | 142 | 166 | 153 | 164 | 161 | 173 | 194 |
| Operating Profit | 24.09 | 23.08 | 20.08 | 26.07 | 27.11 | 36.12 | 28.07 | 32.12 | 32.11 | 34.10 | 26.09 | 45.11 |
| OPM % | 16.9% | 16.0% | 14.9% | 15.9% | 16.9% | 20.0% | 14.9% | 16.9% | 15.9% | 17.9% | 12.9% | 18.9% |
| Other Income | 5.01 | 2.01 | 2.01 | 3.01 | 3.99 | 2.01 | 3.01 | 3.01 | 2.01 | 7.99 | 0.99 | 6.01 |
| Interest | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 1.01 | 2.01 | 1.01 |
| Depreciation | 4.99 | 5.99 | 5.99 | 5.99 | 5.99 | 5.99 | 6.99 | 5.99 | 6.99 | 6.99 | 6.99 | 6.99 |
| Profit before tax | 22.03 | 17.02 | 14.02 | 22.02 | 24.03 | 30.04 | 23.01 | 27.06 | 26.05 | 34.06 | 18.04 | 42.03 |
| Tax % | 21.0% | 25.0% | 24.0% | 25.0% | 23.0% | 25.0% | 26.0% | 24.0% | 25.0% | 20.0% | 23.0% | 25.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.99 | −0.99 | 0.00 |
| Net Profit | 16.99 | 12.99 | 10.99 | 16.99 | 18.98 | 22.96 | 16.99 | 19.99 | 18.99 | 26.99 | 13.99 | 31.95 |
| EPS (Rs) | 5.93 | 4.44 | 3.73 | 5.68 | 6.40 | 7.86 | 5.85 | 6.94 | 6.66 | 9.31 | 4.87 | 10.87 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 307 | 308 | 491 | 558 | 562 | 696 | 776 | 833 |
| Expenses | 230 | 232 | 406 | 455 | 466 | 577 | 650 | 693 |
| Operating Profit | 77.20 | 76.19 | 84.32 | 102 | 95.38 | 119 | 126 | 137 |
| OPM % | 24.9% | 24.9% | 16.9% | 18.0% | 16.9% | 16.9% | 15.9% | 16.5% |
| Other Income | 10.99 | 8.99 | 9.01 | 11.01 | 10.01 | 12.01 | 12.99 | 17.00 |
| Interest | 2.01 | 2.01 | 4.01 | 5.01 | 7.01 | 7.01 | 7.01 | 6.04 |
| Depreciation | 8.99 | 8.98 | 11.99 | 16.97 | 21.97 | 23.97 | 26.98 | 27.96 |
| Profit before tax | 78.17 | 75.09 | 78.11 | 91.07 | 76.10 | 100 | 105 | 120 |
| Tax % | 20.0% | 26.0% | 25.0% | 24.0% | 24.0% | 25.0% | 23.0% | — |
| Exceptional items | 1.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.99 | 2.00 |
| Net Profit | 61.91 | 55.98 | 57.99 | 68.95 | 57.94 | 74.98 | 80.95 | 91.92 |
| EPS (Rs) | 21.31 | 19.19 | 20.05 | 23.77 | 19.79 | 25.78 | 27.78 | 31.71 |
| Dividend payout % | 24.1% | 26.1% | 25.1% | 21.0% | 25.1% | 23.1% | 22.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6.01 | 6.01 | 6.01 | 6.01 | 6.01 | 6.01 | 6.01 |
| Reserves | 298 | 456 | 856 | 732 | 897 | 969 | 866 |
| Borrowings | 29.09 | 38.11 | 53.17 | 75.23 | 79.24 | 94.26 | 86.25 |
| Other Liabilities | 50.24 | 61.29 | 82.40 | 70.34 | 97.47 | 107 | 139 |
| Total Liabilities | 382 | 563 | 998 | 884 | 1,079 | 1,176 | 1,097 |
| Fixed Assets | 91.10 | 119 | 152 | 239 | 282 | 334 | 373 |
| CWIP | 35.05 | 30.07 | 69.08 | 29.06 | 30.05 | 26.03 | 30.04 |
| Investments | 105 | 195 | 553 | 367 | 493 | 514 | 377 |
| Other Assets | 150 | 219 | 223 | 249 | 275 | 300 | 316 |
| Inventories | 34.02 | 37.02 | 72.11 | 88.09 | 90.03 | 88.13 | 107 |
| Trade receivables | 38.94 | 43.90 | 38.94 | 43.90 | 57.85 | 80.87 | 79.81 |
| Cash & equivalents | 19.99 | 71.95 | 29.99 | 36.01 | 44.99 | 59.99 | 52.96 |
| Total Assets | 382 | 563 | 998 | 884 | 1,079 | 1,176 | 1,097 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 47.84 | 57.82 | 28.89 | 61.79 | 77.81 | 89.75 | 128 |
| Cash from investing activity | −39.06 | −20.04 | −63.11 | −55.14 | −51.08 | −42.12 | −148 |
| Cash from financing activity | −15.97 | 12.98 | −6.99 | −1.99 | −17.98 | −32.93 | −30.97 |
| Net cash flow | −7.01 | 51.15 | −40.08 | 5.01 | 10.03 | 15.03 | −51.13 |
| Capex | 41.88 | 42.85 | 69.73 | 59.80 | 62.82 | 52.78 | 67.77 |
| Free cash flow | 6.02 | 15.04 | −40.13 | 1.01 | 15.04 | 37.13 | 62.23 |
| CFO / OP % | 87.0% | 100.0% | 56.0% | 81.0% | 100.0% | 94.0% | 118.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 47 | 52 | 29 | 29 | 38 | 42 | 38 |
| Inventory days | 93 | 93 | 93 | 113 | 109 | 83 | 88 |
| Days payable | 80 | 91 | 52 | 53 | 69 | 49 | 69 |
| Cash conversion cycle | 59 | 54 | 71 | 89 | 79 | 76 | 56 |
| Working capital days | 85 | 92 | 82 | 79 | 79 | 61 | 43 |
| ROCE % | — | 18.1% | 11.1% | 11.1% | 9.0% | 10.0% | 11.1% |
For the Jun 2026 quarter, Ultramarine & Pigments reported sales of ₹240 Cr, up 30.4% year on year and net profit of ₹31.95 Cr, up 59.8% year on year. The operating margin was 18.9%.
Ultramarine & Pigments' sales for the year to Mar 2026 were ₹776 Cr; over the last twelve months they were ₹833 Cr.
Net profit for the year to Mar 2026 was ₹80.95 Cr, and ₹91.92 Cr over the last twelve months. Earnings per share over the same trailing period were ₹31.71.
Ultramarine & Pigments reported borrowings of ₹86.25 Cr at Mar 2026, against cash and equivalents of ₹52.96 Cr.
Cash from operations was ₹128 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹62.23 Cr.