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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 509874 | NSE: SHALPAINTS

Shalimar Paints Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:52 am

Market Cap 1,045 Cr.
Current Price 125
High / Low 226/97.0
Stock P/E
Book Value 41.4
Dividend Yield0.00 %
ROCE12.6 %
ROE20.2 %
Face Value 2.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Sirca Paints India Ltd 1,782 Cr. 325 444/28238.3 59.10.46 %24.0 %17.9 % 10.0
Shalimar Paints Ltd 1,045 Cr. 125 226/97.0 41.40.00 %12.6 %20.2 % 2.00
Kansai Nerolac Paints Ltd 21,196 Cr. 262 357/25234.7 69.80.95 %16.6 %12.8 % 1.00
Berger Paints India Ltd 51,856 Cr. 445 630/43945.3 48.00.79 %27.5 %23.5 % 1.00
Akzo Nobel India Ltd 16,364 Cr. 3,593 4,674/2,26537.6 3132.09 %42.3 %32.3 % 10.0
Industry Average51,861.00 Cr1,172.0040.50119.880.96%26.75%23.02%4.17

All Competitor Stocks of

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales659196106110111129135126119146144128
Expenses7499102105113115130141130139153167150
Operating Profit-9-8-60-3-5-1-6-5-20-7-22-21
OPM %-14%-9%-6%0%-3%-4%-0%-4%-4%-17%-5%-16%-16%
Other Income-203-1211322231
Interest5666444444223
Depreciation3333333333444
Profit before tax-19-17-13-9-10-11-6-10-10-26-12-26-27
Tax %0%0%0%-6%0%0%0%0%0%0%0%0%0%
Net Profit-19-17-13-9-10-11-6-10-10-26-12-26-27
EPS in Rs-3.58-3.10-2.37-1.23-1.33-1.49-0.86-1.33-1.42-3.55-1.38-3.16-3.23

Last Updated: September 24, 2024, 5:15 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 24, 2024, 5:15 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales478465416384350271288344326358484535538
Expenses440450407354335305349377322381499589608
Operating Profit381593014-34-61-344-22-15-54-71
OPM %8%3%2%8%4%-13%-21%-10%1%-6%-3%-10%-13%
Other Income-262111-1485-3787
Interest17212122232625201922161312
Depreciation4455889111313131515
Profit before tax16-4-154-15-67-109-56-24-61-36-74-91
Tax %30%-22%-29%-23%-36%-32%-25%-32%110%-1%0%0%
Net Profit11-3-115-10-46-82-38-50-60-36-74-91
EPS in Rs1.95-0.50-1.870.93-1.72-8.10-15.25-7.03-9.18-8.36-5.01-8.82-11.32
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-127.27%-266.67%145.45%-300.00%-360.00%-78.26%53.66%-31.58%-20.00%40.00%-105.56%
Change in YoY Net Profit Growth (%)0.00%-139.39%412.12%-445.45%-60.00%281.74%131.92%-85.24%11.58%60.00%-145.56%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:13%
3 Years:18%
TTM:11%
Compounded Profit Growth
10 Years:%
5 Years:-3%
3 Years:-21%
TTM:-64%
Stock Price CAGR
10 Years:2%
5 Years:9%
3 Years:5%
1 Year:-31%
Return on Equity
10 Years:-18%
5 Years:-17%
3 Years:-16%
Last Year:-20%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:47 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital44444411111114141717
Reserves71705862180134295262212336338376330
Borrowings88110130137171179154121131168140106162
Other Liabilities204198191188180177135142152128134175180
Total Liabilities367381382391535494594536506647627675689
Fixed Assets37377675222250246295283276272275270
CWIP818161412400023552
Investments0000300000000
Other Assets321327305311296244325241222371353365367
Total Assets367381382391535494594536506647627675689

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +261038383436-94-916-62-4818
Cash from Investing Activity +-10-6-26-7-16-11-34-28-5-6-84-51
Cash from Financing Activity +-13-15-16-23-19-18198-46-11225-763
Net Cash Flow2-11-38-1770-83-0157-13929

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-50.00-95.00-121.00-107.00-157.00-213.00-215.00-155.00-127.00-190.00-155.00-160.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days1181251351361301421267689808175
Inventory Days136126126154139129118136146130120114
Days Payable169168187218193244162151183133102127
Cash Conversion Cycle858373727528826152779862
Working Capital Days8510410198118648156548515291
ROCE %23%7%2%13%3%-12%-18%-10%-1%-7%-4%-13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters53.10%53.10%39.92%39.92%39.93%39.93%39.93%39.93%39.93%31.90%75.72%75.72%
FIIs0.26%0.60%0.24%0.01%0.07%0.06%0.03%0.08%0.03%0.00%0.08%0.02%
DIIs3.25%3.11%1.88%1.80%1.62%1.62%1.62%1.62%2.04%0.06%0.03%0.03%
Public43.40%43.19%57.95%58.26%58.38%58.39%58.42%58.36%58.00%68.04%24.15%24.22%
No. of Shareholders32,09227,66225,72823,73923,03223,42922,15021,75221,55623,24024,33326,503

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)-9.52-5.01-11.46-9.18-7.03
Diluted EPS (Rs.)-9.52-5.01-11.46-9.18-7.03
Cash EPS (Rs.)-7.05-3.25-7.03-6.73-5.03
Book Value[Excl.RevalReserv]/Share (Rs.)33.9948.5151.5041.0850.25
Book Value[Incl.RevalReserv]/Share (Rs.)46.9748.5151.5041.0850.25
Revenue From Operations / Share (Rs.)63.9167.2349.5959.9563.32
PBDIT / Share (Rs.)-5.50-1.04-2.471.99-5.97
PBIT / Share (Rs.)-7.27-2.80-4.33-0.45-7.97
PBT / Share (Rs.)-8.82-5.00-8.89-4.38-10.34
Net Profit / Share (Rs.)-8.82-5.00-8.89-9.18-7.03
NP After MI And SOA / Share (Rs.)-8.82-5.00-8.89-9.18-7.03
PBDIT Margin (%)-8.60-1.55-4.983.32-9.42
PBIT Margin (%)-11.38-4.16-8.74-0.76-12.57
PBT Margin (%)-13.80-7.44-17.93-7.30-16.33
Net Profit Margin (%)-13.80-7.44-17.93-15.31-11.10
NP After MI And SOA Margin (%)-13.80-7.44-17.93-15.31-11.10
Return on Networth / Equity (%)-25.96-10.31-17.27-22.35-13.99
Return on Capital Employeed (%)-14.31-5.38-6.71-0.98-14.43
Return On Assets (%)-11.02-5.79-9.61-9.91-7.12
Long Term Debt / Equity (X)0.070.040.220.100.06
Total Debt / Equity (X)0.360.390.380.550.43
Asset Turnover Ratio (%)0.820.750.610.630.61
Current Ratio (X)1.411.401.840.790.81
Quick Ratio (X)0.930.931.360.430.45
Inventory Turnover Ratio (X)3.153.282.712.262.77
Interest Coverage Ratio (X)-3.55-0.47-0.800.56-1.63
Interest Coverage Ratio (Post Tax) (X)-4.70-1.27-1.41-1.48-1.27
Enterprise Value (Cr.)1441.041101.23820.41645.97381.75
EV / Net Operating Revenue (X)2.692.272.291.981.11
EV / EBITDA (X)-31.29-146.03-45.9959.70-11.78
MarketCap / Net Operating Revenue (X)2.612.032.361.630.77
Price / BV (X)4.902.812.282.380.98
Price / Net Operating Revenue (X)2.612.032.361.630.77
EarningsYield-0.05-0.03-0.07-0.09-0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 127.95

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 2.36% compared to the current share price 125.00

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of as of December 22, 2024 is: 101.78

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Overvalued by 18.58% compared to the current share price 125.00

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -20.45%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (209.54 cr) compared to borrowings (138.23 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of -1.42%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 90.75, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 70.67, which may not be favorable.
  4. The company has not shown consistent growth in sales (402.85) and profit (-40.92).
  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
    1. Net Profit Margin: -13.8%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: -14.31% (Industry Average ROCE: 26.75%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: -25.96% (Industry Average ROE: 23.02%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): -4.7
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.93
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 0 (Industry average Stock P/E: 40.5)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.36
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Shalimar Paints Ltd. is a Public Limited Listed company incorporated on 16/12/1902 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L24222HR1902PLC065611 and registration number is 065611. Currently Company is involved in the business activities of Manufacture of paints and varnishes, enamels or lacquers. Company’s Total Operating Revenue is Rs. 358.10 Cr. and Equity Capital is Rs. 14.44 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Paints/VarnishesStainless Centre, 4th Floor, Gurgaon Haryana 122001askus@shalimarpaints.com
http://www.shalimarpaints.com
Management
NamePosition Held
Dr. Rajeev UberoiChairman & Ind.Director
Mr. Souvik Pulakesh SenguptaNon Executive Director
Mr. Vijay Kumar SharmaIndependent Director
Mr. Sanjiv GargIndependent Director
Ms. Shan JainIndependent Director
Mr. Atul Rasiklal DesaiIndependent Director
Mr. Aaditya Gajendra ShardaNon Executive Director
Mr. Venugopal ChetlurWhole Time Director & COO

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹127.95, which is 2.36% higher than the current market price of ₹125.00. The stock has a market capitalization of 1,045 Cr. and recorded a high/low of 226/97.0 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹330 Cr and total liabilities of ₹689 Cr.

What is the Market Cap of ?

The Market Cap of is 1,045 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 125.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 226/97.0.

What is the Stock P/E of ?

The Stock P/E of is .

What is the Book Value of ?

The Book Value of is 41.4.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 12.6 %.

What is the ROE of ?

The ROE of is 20.2 %.

What is the Face Value of ?

The Face Value of is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE