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Sirca Paints India Limited

ISIN : INE792Z01011
NSE : SIRCA
Face Value : 10
Industry : Trading

EPS : 9.38
EPS (TTM) : 8.89
Price to Earning (P/E) : 25.77
Book Value : 56.32
Price to Bookvalue (P/B) : 4.29
Dividend Yield : 1 %
Return on Equity (ROE) : 17.92 %
Return on Capital Employed (ROCE) : 24.06 %

Sirca Paints share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	242.3 - 241.7 -0.2 %
Low / High	238 - 247.65 4.1 %
Trade Volume	1.31 Lk
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR SIRCA PAINTS INDIA LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	540.98	613.45	729.16	652.15	682.73	729.92	836.01	724.93	826.35	786.78
Total Income	549.18	625.65	744.49	661.84	693.95	744.33	848.04	741.22	847.21	801.01
Total Expenditure	446.88	459.93	537.48	511.47	551.51	556.12	623.23	587.24	663.86	646.08
Other Income	8.2	12.2	15.33	9.68	11.23	14.42	12.02	16.3	20.87	14.23
Operating Profit	102.3	165.72	207.01	150.37	142.44	188.21	224.81	153.98	183.35	154.93
Interest	0.12	0.12	0.1	0.15	0.02	0.03	0.02	0.12	0.02	0.06
PBDT	102.18	165.6	206.91	150.22	142.42	188.18	224.79	153.86	183.33	154.87
Depreciation	11.58	11.43	11.46	8.67	12.55	12.58	15.92	15.59	15.45	15.62
Profit Before Tax	90.6	154.17	195.45	141.55	129.87	175.6	208.87	138.27	167.88	139.25
Tax	28.76	37.43	51.29	36.23	35.02	46.59	53.78	33.15	42.76	37.18
Profit After Tax	61.84	116.74	144.16	105.32	94.85	129.01	155.09	105.12	125.12	102.07
Net Profit	61.84	116.74	144.16	105.32	94.85	129.01	155.09	105.12	125.12	102.07
Equity Capital	274.04	274.04	274.04	274.04	274.04	548.09	548.09	548.09	548.09	548.09
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Reserves	1977.21	2093.95	2179.35	2287.03	2380.91	2235.88	2308.76	2414.22	2538.75	2640.83
Calculated EPS	2.26	4.26	5.26	3.84	3.46	2.35	2.83	1.92	2.28	1.86
Diluted Eps After Extraordinary Items	2.26	4.26	5.26	3.84	1.73	2.35	2.83	1.92	2.28	1.86
Diluted Eps Before Extraordinary Items	2.26	4.26	5.26	3.84	1.73	2.35	2.83	1.92	2.28	1.86

STANDALONE QUARTERLY RESULT FOR SIRCA PAINTS INDIA LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	540.98	613.45	729.16	652.15	682.73	729.92	836.01	724.93	826.35	786.78
Total Income	549.18	625.65	744.49	661.84	693.95	744.33	848.04	741.22	847.21	801.01
Total Expenditure	446.85	459.92	537.47	511.46	551.49	556.09	623.21	587.23	663.86	646.08
Other Income	8.2	12.2	15.33	9.68	11.23	14.42	12.02	16.3	20.87	14.23
Operating Profit	102.33	165.73	207.02	150.38	142.46	188.24	224.83	153.99	183.35	154.93
Interest	0.12	0.12	0.1	0.15	0.02	0.03	0.02	0.12	0.02	0.06
PBDT	102.21	165.61	206.92	150.23	142.44	188.21	224.81	153.87	183.33	154.87
Depreciation	11.58	11.43	11.46	8.67	12.55	12.58	15.92	15.59	15.45	15.62
Profit Before Tax	90.63	154.18	195.46	141.56	129.89	175.63	208.89	138.28	167.88	139.25
Tax	28.76	37.43	51.29	36.24	35.03	46.59	53.78	33.15	42.76	37.18
Profit After Tax	61.87	116.75	144.17	105.32	94.86	129.04	155.11	105.13	125.12	102.07
Net Profit	61.87	116.75	144.17	105.32	94.86	129.04	155.11	105.13	125.12	102.07
Equity Capital	274.04	274.04	274.04	274.04	274.04	548.09	548.09	548.09	548.09	548.09
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Reserves	1977.48	2094.22	2179.64	2287.33	2381.22	2236.21	2309.1	2414.22	2539.09	2641.18
Calculated EPS	2.26	4.26	5.26	3.84	3.46	2.35	2.83	1.92	2.28	1.86
Diluted Eps After Extraordinary Items	2.26	4.26	5.26	3.84	1.73	2.35	2.83	1.92	2.28	1.86
Diluted Eps Before Extraordinary Items	2.26	4.26	5.26	3.84	1.73	2.35	2.83	1.92	2.28	1.86

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR SIRCA PAINTS INDIA LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2000.25	2677.49	3117.2
Total Income	2044.26	2725.93	3180.8
Total Expenditure	1622.73	2060.4	2430.45
Other Income	44.01	48.44	63.6
Operating Profit	421.53	665.53	750.35
Interest	0.78	0.39	0.2
PBDT	420.75	665.14	750.15
Depreciation	41.27	44.11	59.54
Profit Before Tax	379.48	621.03	690.61
Tax	102.26	159.97	176.27
Profit After Tax	277.22	461.06	514.34
Net Profit	277.22	461.06	514.34
Equity Capital	274.04	274.04	548.09
Face Value (IN RS)	10	10	10
Reserves	1977.21	2380.91	2538.75
Calculated EPS	10.12	16.82	9.38
Diluted Eps After Extraordinary Items	10.12	8.41	9.38
Diluted Eps Before Extraordinary Items	10.12	8.41	9.38

STANDALONE ANNUAL RESULT FOR SIRCA PAINTS INDIA LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2000.25	2677.49	3117.2
Total Income	2044.26	2725.93	3180.8
Total Expenditure	1622.67	2060.35	2430.4
Other Income	44.01	48.44	63.6
Operating Profit	421.59	665.58	750.4
Interest	0.78	0.39	0.2
PBDT	420.81	665.19	750.2
Depreciation	41.27	44.11	59.54
Profit Before Tax	379.54	621.08	690.66
Tax	102.27	159.99	176.28
Profit After Tax	277.27	461.09	514.38
Net Profit	277.27	461.09	514.38
Equity Capital	274.04	274.04	548.09
Face Value (IN RS)	10	10	10
Reserves	1977.48	2381.22	2539.09
Calculated EPS	10.12	16.83	9.39
Diluted Eps After Extraordinary Items	10.12	8.41	9.38
Diluted Eps Before Extraordinary Items	10.12	8.41	9.38

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Net Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Increase/Decrease in Stock	-9.24 Cr	-5.06 Cr	-27.53 Cr	6.97 Cr
Raw Material Consumed	93.44 Cr	122.37 Cr	174.96 Cr	161.86 Cr
Opening Raw Materials	3.68 Cr	8.04 Cr	35.91 Cr	10.87 Cr
Purchases Raw Materials	25.18 Cr	42.97 Cr	80.47 Cr	101.63 Cr
Closing Raw Materials	8.04 Cr	7.72 Cr	39.06 Cr	12.82 Cr
Other Direct Purchases / Brought in cost	72.63 Cr	79.08 Cr	97.64 Cr	62.18 Cr
Power & Fuel Cost	45.95 Lk	57.06 Lk	60.59 Lk	89.88 Lk
Electricity & Power	45.95 Lk	57.06 Lk	60.59 Lk	89.88 Lk
Employee Cost	14.73 Cr	17.65 Cr	22.67 Cr	30.48 Cr
Salaries, Wages & Bonus	13.32 Cr	15.79 Cr	20.75 Cr	27.85 Cr
Contributions to EPF & Pension Funds	91.59 Lk	1.08 Cr	1.21 Cr	1.54 Cr
Workmen and Staff Welfare Expenses	22.79 Lk	19.78 Lk	35.15 Lk	51.12 Lk
Other Manufacturing Expenses	5.57 Cr	6.86 Cr	8.73 Cr	12.05 Cr
Repairs and Maintenance	87.46 Lk	69.75 Lk	89.14 Lk	1.25 Cr
General and Administration Expenses	5.74 Cr	7.36 Cr	10.37 Cr	12.89 Cr
Rent , Rates & Taxes	1.8 Cr	1.9 Cr	2.4 Cr	2.64 Cr
Insurance	32.32 Lk	64.11 Lk	48.51 Lk	59.99 Lk
Printing and stationery	7.35 Lk	6.18 Lk	12.71 Lk	15.81 Lk
Professional and legal fees	53.39 Lk	44.9 Lk	73.14 Lk	1.44 Cr
Traveling and conveyance	1.36 Cr	2.3 Cr	4.05 Cr	5.08 Cr
Selling and Distribution Expenses	7.2 Cr	10.56 Cr	13.34 Cr	16.17 Cr
Advertisement & Sales Promotion	2.2 Cr	3.62 Cr	6.68 Cr	13.68 Cr
Sales Commissions & Incentives	1.54 Cr	1.95 Cr	1.99 Cr	1.53 Cr
Freight and Forwarding	73.11 Lk	72.78 Lk	67.53 Lk	39.17 Lk
Handling and Clearing Charges	9.61 Lk	13.53 Lk	18.18 Lk	2.9 Lk
Miscellaneous Expenses	13.02 Cr	1.93 Cr	2.9 Cr	1.72 Cr
Bad debts /advances written off	0	0	20.38 Lk	26.87 Lk
Loss on foreign exchange fluctuations	81.55 Lk	59.98 Lk	1.46 Cr	13.36 Lk
Total Expenditure	130.93 Cr	162.25 Cr	206.04 Cr	243.04 Cr
Other Income	14.15 Cr	4.4 Cr	4.84 Cr	6.36 Cr
Interest Received	2.67 Cr	2.45 Cr	3.32 Cr	4.66 Cr
Profit on sale of Fixed Assets	23.38 Lk	0	1.16 Lk	18.06 Lk
Foreign Exchange Gains	1.58 Cr	1.45 Cr	1.45 Cr	1.27 Cr
Operating Profit	26.4 Cr	42.17 Cr	66.56 Cr	75.04 Cr
Interest	18.32 Lk	9.84 Lk	4.28 Lk	2.02 Lk
Interest on Term Loan	72,000	1.56 Lk	1.52 Lk	89,000
Bank Charges etc	9.69 Lk	6.24 Lk	2.37 Lk	1.13 Lk
PBDT	26.21 Cr	42.08 Cr	66.51 Cr	75.02 Cr
Depreciation	3.66 Cr	4.13 Cr	4.41 Cr	5.95 Cr
Profit Before Taxation & Exceptional Items	22.55 Cr	37.95 Cr	62.1 Cr	69.06 Cr
Profit Before Tax	22.55 Cr	37.95 Cr	62.1 Cr	69.06 Cr
Provision for Tax	5.97 Cr	10.23 Cr	16 Cr	17.63 Cr
Current Income Tax	6.15 Cr	9.6 Cr	15.99 Cr	17.72 Cr
Deferred Tax	-17.45 Lk	62.65 Lk	1.15 Lk	-9.26 Lk
Profit After Tax	16.58 Cr	27.72 Cr	46.11 Cr	51.43 Cr
Consolidated Net Profit	16.58 Cr	27.72 Cr	46.11 Cr	51.43 Cr
Profit Balance B/F	73.49 Cr	90.36 Cr	113.7 Cr	154.17 Cr
Appropriations	90.07 Cr	118.08 Cr	159.81 Cr	205.61 Cr
Other Appropriation	-28.97 Lk	4.38 Cr	5.64 Cr	35.63 Cr
Equity Dividend %	15	20	15	15
Earnings Per Share	6.05	10.12	16.82	9.38
Adjusted EPS	6.05	10.12	8.41	9.38

STANDALONE PROFIT / LOSS FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Net Sales	143.18 Cr	200.02 Cr	267.75 Cr	311.72 Cr
Increase/Decrease in Stock	-9.24 Cr	-5.06 Cr	-27.53 Cr	6.97 Cr
Raw Material Consumed	93.44 Cr	122.37 Cr	174.96 Cr	161.86 Cr
Opening Raw Materials	3.68 Cr	8.04 Cr	7.72 Cr	10.87 Cr
Purchases Raw Materials	25.18 Cr	42.97 Cr	80.47 Cr	101.63 Cr
Closing Raw Materials	8.04 Cr	7.72 Cr	10.87 Cr	12.82 Cr
Other Direct Purchases / Brought in cost	72.63 Cr	79.08 Cr	97.64 Cr	62.18 Cr
Power & Fuel Cost	45.95 Lk	57.06 Lk	60.59 Lk	89.88 Lk
Electricity & Power	45.95 Lk	57.06 Lk	60.59 Lk	89.88 Lk
Employee Cost	14.73 Cr	17.65 Cr	22.67 Cr	30.48 Cr
Salaries, Wages & Bonus	13.32 Cr	15.79 Cr	20.75 Cr	27.85 Cr
Contributions to EPF & Pension Funds	91.59 Lk	1.08 Cr	1.21 Cr	1.54 Cr
Workmen and Staff Welfare Expenses	22.79 Lk	19.78 Lk	35.15 Lk	51.12 Lk
Other Manufacturing Expenses	5.57 Cr	6.86 Cr	8.73 Cr	12.05 Cr
Repairs and Maintenance	87.46 Lk	69.75 Lk	89.14 Lk	1.25 Cr
General and Administration Expenses	5.73 Cr	7.35 Cr	10.37 Cr	12.89 Cr
Rent , Rates & Taxes	1.8 Cr	1.9 Cr	2.4 Cr	2.64 Cr
Insurance	32.32 Lk	64.11 Lk	48.51 Lk	59.99 Lk
Printing and stationery	7.32 Lk	6.18 Lk	12.71 Lk	15.81 Lk
Professional and legal fees	52.7 Lk	44.57 Lk	72.59 Lk	1.43 Cr
Traveling and conveyance	1.36 Cr	2.3 Cr	4.05 Cr	5.08 Cr
Selling and Distribution Expenses	7.2 Cr	10.56 Cr	13.34 Cr	16.17 Cr
Advertisement & Sales Promotion	2.2 Cr	3.62 Cr	6.68 Cr	13.68 Cr
Sales Commissions & Incentives	1.54 Cr	1.95 Cr	1.99 Cr	1.53 Cr
Freight and Forwarding	73.11 Lk	72.78 Lk	67.53 Lk	39.17 Lk
Handling and Clearing Charges	9.61 Lk	13.53 Lk	18.18 Lk	2.9 Lk
Miscellaneous Expenses	13.02 Cr	1.93 Cr	2.9 Cr	1.72 Cr
Bad debts /advances written off	0	0	20.38 Lk	26.87 Lk
Loss on disposal of fixed assets(net)	0	45.21 Lk	0	0
Loss on foreign exchange fluctuations	81.56 Lk	59.98 Lk	1.46 Cr	13.36 Lk
Total Expenditure	130.92 Cr	162.25 Cr	206.03 Cr	243.04 Cr
Other Income	14.15 Cr	4.4 Cr	4.84 Cr	6.36 Cr
Interest Received	2.67 Cr	2.45 Cr	3.32 Cr	4.66 Cr
Profit on sale of Fixed Assets	23.38 Lk	0	1.16 Lk	18.06 Lk
Foreign Exchange Gains	1.58 Cr	1.45 Cr	1.45 Cr	1.27 Cr
Operating Profit	26.41 Cr	42.18 Cr	66.56 Cr	75.04 Cr
Interest	18.32 Lk	9.84 Lk	4.28 Lk	2.02 Lk
Interest on Term Loan	72,000	1.56 Lk	1.52 Lk	89,000
Bank Charges etc	9.69 Lk	6.24 Lk	2.37 Lk	1.13 Lk
PBDT	26.22 Cr	42.08 Cr	66.52 Cr	75.02 Cr
Depreciation	3.64 Cr	4.13 Cr	4.41 Cr	5.95 Cr
Profit Before Taxation & Exceptional Items	22.59 Cr	37.95 Cr	62.11 Cr	69.07 Cr
Profit Before Tax	22.59 Cr	37.95 Cr	62.11 Cr	69.07 Cr
Provision for Tax	5.98 Cr	10.23 Cr	16 Cr	17.63 Cr
Current Income Tax	6.16 Cr	9.6 Cr	15.99 Cr	17.72 Cr
Deferred Tax	-17.44 Lk	62.65 Lk	1.15 Lk	-9.26 Lk
Profit After Tax	16.61 Cr	27.73 Cr	46.11 Cr	51.44 Cr
Consolidated Net Profit	16.61 Cr	27.73 Cr	46.11 Cr	51.44 Cr
Profit Balance B/F	73.49 Cr	90.38 Cr	113.73 Cr	154.2 Cr
Appropriations	90.09 Cr	118.11 Cr	159.84 Cr	205.64 Cr
Other Appropriation	-28.97 Lk	4.38 Cr	5.64 Cr	35.63 Cr
Equity Dividend %	15	20	15	15
Earnings Per Share	6.06	10.12	16.83	9.38
Adjusted EPS	6.06	10.12	8.41	9.38

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR SIRCA PAINTS INDIA LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	22.55 Cr	37.95 Cr	62.1 Cr	69.06 Cr
Adjustment	1.49 Cr	2.41 Cr	1.04 Cr	1.11 Cr
Changes In working Capital	91.9 Lk	5.73 Cr	-62.96 Cr	-24.94 Cr
Cash Flow after changes in Working Capital	24.96 Cr	46.1 Cr	17.96 Lk	45.23 Cr
Cash Flow from Operating Activities	19.2 Cr	35.16 Cr	-18.7 Cr	32.4 Cr
Cash Flow from Investing Activities	14.84 Cr	-11.06 Cr	9.38 Cr	-11.81 Cr
Cash Flow from Financing Activitie	-10.41 Lk	-17.38 Cr	-5.52 Cr	-8.24 Cr
Net Cash Inflow / Outflow	33.94 Cr	6.72 Cr	-14.84 Cr	12.34 Cr
Opening Cash & Cash Equivalents	4.59 Cr	38.52 Cr	45.24 Cr	30.4 Cr
Closing Cash & Cash Equivalent	38.52 Cr	45.24 Cr	30.4 Cr	42.74 Cr

STANDALONE CASH FLOW FOR SIRCA PAINTS INDIA LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	22.59 Cr	37.95 Cr	62.11 Cr	69.07 Cr
Adjustment	1.49 Cr	2.41 Cr	1.04 Cr	1.11 Cr
Changes In working Capital	91.91 Lk	5.74 Cr	-62.96 Cr	-24.94 Cr
Cash Flow after changes in Working Capital	24.99 Cr	46.1 Cr	18.6 Lk	45.24 Cr
Cash Flow from Operating Activities	19.24 Cr	35.16 Cr	-18.69 Cr	32.4 Cr
Cash Flow from Investing Activities	14.74 Cr	-11.06 Cr	9.38 Cr	-11.81 Cr
Cash Flow from Financing Activitie	-10.41 Lk	-17.38 Cr	-5.52 Cr	-8.24 Cr
Net Cash Inflow / Outflow	33.87 Cr	6.72 Cr	-14.84 Cr	12.35 Cr
Opening Cash & Cash Equivalents	4.59 Cr	38.46 Cr	45.18 Cr	30.34 Cr
Closing Cash & Cash Equivalent	38.46 Cr	45.18 Cr	30.34 Cr	42.69 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Equity - Authorised	32 Cr	32 Cr	32 Cr	60 Cr
Equity - Issued	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Equity Paid Up	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Face Value	10	10	10	10
Total Reserves	174.17 Cr	197.72 Cr	238.09 Cr	253.88 Cr
Securities Premium	83.73 Cr	83.73 Cr	83.73 Cr	83.73 Cr
Profit & Loss Account Balance	90.36 Cr	113.7 Cr	154.17 Cr	169.98 Cr
Reserve excluding Revaluation Reserve	174.17 Cr	197.72 Cr	238.09 Cr	253.88 Cr
Shareholder's Funds	201.58 Cr	225.12 Cr	265.5 Cr	308.68 Cr
Deferred Tax Assets / Liabilities	-1.12 Cr	-49.44 Lk	-48.29 Lk	-57.54 Lk
Deferred Tax Assets	1.12 Cr	49.44 Lk	48.29 Lk	57.54 Lk
Other Long Term Liabilities	0	0	32.95 Lk	55.22 Lk
Long Term Provisions	27.67 Lk	5.4 Lk	26.13 Lk	4.88 Lk
Total Non-Current Liabilities	-84.42 Lk	-44.04 Lk	10.79 Lk	2.56 Lk
Trade Payables	34.84 Cr	31.4 Cr	36.55 Cr	32.54 Cr
Sundry Creditors	34.84 Cr	31.4 Cr	36.55 Cr	32.54 Cr
Other Current Liabilities	4.84 Cr	5.76 Cr	9.37 Cr	9.07 Cr
Advances received from customers	1.26 Cr	1.73 Cr	1.47 Cr	1.68 Cr
Short Term Borrowings	13.2 Cr	0	0	0
Secured ST Loans repayable on Demands	13.2 Cr	0	0	0
Working Capital Loans- Sec	13.2 Cr	0	0	0
Short Term Provisions	6.15 Cr	9.59 Cr	15.97 Cr	18.15 Cr
Provision for Tax	6.15 Cr	9.59 Cr	15.97 Cr	18.15 Cr
Total Current Liabilities	59.02 Cr	46.75 Cr	61.9 Cr	59.76 Cr
Total Liabilities	259.76 Cr	271.44 Cr	327.5 Cr	368.47 Cr
Gross Block	49.03 Cr	64.26 Cr	69.97 Cr	78.62 Cr
Less: Accumulated Depreciation	8.36 Cr	11.13 Cr	15.49 Cr	20.35 Cr
Net Block	40.67 Cr	53.13 Cr	54.49 Cr	58.27 Cr
Capital Work in Progress	1.86 Cr	1.24 Cr	5.43 Cr	5.84 Cr
Long Term Loans & Advances	1.59 Cr	2.51 Cr	2.67 Cr	3.14 Cr
Other Non Current Assets	0	0	0	17.42 Lk
Total Non-Current Assets	44.11 Cr	56.88 Cr	62.58 Cr	67.43 Cr
Inventories	64.95 Cr	69.69 Cr	100.36 Cr	95.34 Cr
Raw Materials	8.04 Cr	7.72 Cr	10.87 Cr	12.82 Cr
Sundry Debtors	43.05 Cr	45.63 Cr	51.36 Cr	65.54 Cr
Debtors more than Six months	8.38 Cr	6.65 Cr	6.07 Cr	8.56 Cr
Debtors Others	35.41 Cr	39.65 Cr	45.68 Cr	57.63 Cr
Cash and Bank	78.87 Cr	82.6 Cr	51.74 Cr	69.66 Cr
Cash in hand	18.23 Lk	15.49 Lk	8.84 Lk	14.33 Lk
Balances at Bank	78.69 Cr	82.45 Cr	51.65 Cr	59.82 Cr
Other Current Assets	11.3 Cr	1.45 Cr	35.62 Cr	48.34 Cr
Interest accrued on Investments	1.33 Cr	1.18 Cr	76.05 Lk	3.28 Cr
Prepaid Expenses	32.81 Lk	27.15 Lk	36.72 Lk	56.45 Lk
Short Term Loans and Advances	17.48 Cr	15.2 Cr	25.84 Cr	22.15 Cr
Advances recoverable in cash or in kind	7.4 Cr	1.65 Cr	4.22 Cr	3.66 Cr
Advance income tax and TDS	7.16 Cr	11.74 Cr	20.87 Cr	18.2 Cr
Total Current Assets	215.65 Cr	214.56 Cr	264.92 Cr	301.04 Cr
Net Current Assets (Including Current Investments)	156.62 Cr	167.81 Cr	203.02 Cr	241.28 Cr
Total Assets	259.76 Cr	271.44 Cr	327.5 Cr	368.47 Cr
Total Debt	13.2 Cr	0	0	0
Book Value	73.56	0	96.88	56.32
Adjusted Book Value	73.56	82.15	48.44	56.32

STANDALONE BALANCE SHEET FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Equity - Authorised	32 Cr	32 Cr	32 Cr	60 Cr
Equity - Issued	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Equity Paid Up	27.4 Cr	27.4 Cr	27.4 Cr	54.81 Cr
Face Value	10	10	10	10
Total Reserves	174.19 Cr	197.75 Cr	238.12 Cr	253.91 Cr
Securities Premium	83.73 Cr	83.73 Cr	83.73 Cr	83.73 Cr
Profit & Loss Account Balance	90.38 Cr	113.73 Cr	154.2 Cr	170.02 Cr
Reserve excluding Revaluation Reserve	174.19 Cr	197.75 Cr	238.12 Cr	253.91 Cr
Shareholder's Funds	201.6 Cr	225.15 Cr	265.53 Cr	308.72 Cr
Deferred Tax Assets / Liabilities	-1.12 Cr	-49.44 Lk	-48.29 Lk	-57.54 Lk
Deferred Tax Assets	1.12 Cr	49.44 Lk	48.29 Lk	57.54 Lk
Other Long Term Liabilities	0	0	32.95 Lk	55.22 Lk
Long Term Provisions	27.67 Lk	5.4 Lk	26.13 Lk	4.88 Lk
Total Non-Current Liabilities	-84.42 Lk	-44.04 Lk	10.79 Lk	2.56 Lk
Trade Payables	34.84 Cr	31.4 Cr	36.55 Cr	32.54 Cr
Sundry Creditors	34.84 Cr	31.4 Cr	36.55 Cr	32.54 Cr
Other Current Liabilities	4.84 Cr	5.76 Cr	9.37 Cr	9.07 Cr
Advances received from customers	1.26 Cr	1.73 Cr	1.47 Cr	1.68 Cr
Short Term Borrowings	13.2 Cr	0	0	0
Secured ST Loans repayable on Demands	13.2 Cr	0	0	0
Working Capital Loans- Sec	13.2 Cr	0	0	0
Short Term Provisions	6.16 Cr	9.6 Cr	15.99 Cr	18.16 Cr
Provision for Tax	6.16 Cr	9.6 Cr	15.99 Cr	18.16 Cr
Total Current Liabilities	59.03 Cr	46.76 Cr	61.91 Cr	59.77 Cr
Total Liabilities	259.79 Cr	271.48 Cr	327.54 Cr	368.52 Cr
Gross Block	49.03 Cr	64.26 Cr	69.97 Cr	78.62 Cr
Less: Accumulated Depreciation	8.36 Cr	11.13 Cr	15.49 Cr	20.35 Cr
Net Block	40.67 Cr	53.13 Cr	54.49 Cr	58.27 Cr
Capital Work in Progress	1.86 Cr	1.24 Cr	5.43 Cr	5.84 Cr
Non Current Investments	10 Lk	10 Lk	10 Lk	10 Lk
Long Term Investment	10 Lk	10 Lk	10 Lk	10 Lk
Unquoted	10 Lk	10 Lk	10 Lk	10 Lk
Long Term Loans & Advances	1.59 Cr	2.51 Cr	2.67 Cr	3.14 Cr
Other Non Current Assets	0	0	0	17.42 Lk
Total Non-Current Assets	44.21 Cr	56.98 Cr	62.68 Cr	67.53 Cr
Unquoted	10 Lk	10 Lk	10 Lk	10 Lk
Inventories	64.95 Cr	69.69 Cr	100.36 Cr	95.34 Cr
Raw Materials	8.04 Cr	7.72 Cr	10.87 Cr	12.82 Cr
Sundry Debtors	43.05 Cr	45.63 Cr	51.36 Cr	65.54 Cr
Debtors more than Six months	8.38 Cr	6.65 Cr	6.07 Cr	8.56 Cr
Debtors Others	35.41 Cr	39.65 Cr	45.68 Cr	57.63 Cr
Cash and Bank	78.81 Cr	82.54 Cr	51.68 Cr	69.61 Cr
Cash in hand	18.23 Lk	15.5 Lk	8.84 Lk	14.33 Lk
Balances at Bank	78.62 Cr	82.39 Cr	51.59 Cr	59.77 Cr
Other Current Assets	11.3 Cr	1.45 Cr	35.62 Cr	48.34 Cr
Interest accrued on Investments	1.33 Cr	1.18 Cr	76.05 Lk	3.28 Cr
Prepaid Expenses	32.83 Lk	27.15 Lk	36.73 Lk	56.45 Lk
Short Term Loans and Advances	17.47 Cr	15.19 Cr	25.84 Cr	22.15 Cr
Advances recoverable in cash or in kind	7.4 Cr	1.65 Cr	4.22 Cr	3.66 Cr
Advance income tax and TDS	7.16 Cr	11.74 Cr	20.87 Cr	18.2 Cr
Total Current Assets	215.58 Cr	214.5 Cr	264.86 Cr	300.99 Cr
Net Current Assets (Including Current Investments)	156.54 Cr	167.74 Cr	202.95 Cr	241.21 Cr
Total Assets	259.79 Cr	271.48 Cr	327.54 Cr	368.52 Cr
Total Debt	13.2 Cr	0	0	0
Book Value	73.56	0	96.89	56.33
Adjusted Book Value	73.56	82.16	48.45	56.33

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	6.05	10.12	16.82	9.38
CEPS(Rs)	7.39	11.62	9.22	10.47
DPS(Rs)	1.5	2	1.5	1.5
Book NAV/Share(Rs)	73.56	82.15	96.88	56.32
Tax Rate(%)	26.48	26.95	25.76	25.52
Margin Ratios
Core EBITDA Margin(%)	8.56	18.88	23.05	22.03
EBIT Margin(%)	15.88	19.02	23.21	22.16
Pre Tax Margin(%)	15.75	18.97	23.19	22.15
PAT Margin (%)	11.58	13.86	17.22	16.5
Cash Profit Margin (%)	14.14	15.92	18.87	18.41
Performance Ratios
ROA(%)	6.95	10.44	15.4	14.78
ROE(%)	8.59	12.99	18.8	17.92
ROCE(%)	11.38	17.3	25.33	24.06
Asset Turnover(x)	0.6	0.75	0.89	0.9
Sales/Fixed Asset(x)	2.66	3.53	3.99	4.2
Working Capital/Sales(x)	0.91	1.19	1.32	1.29
Efficiency Ratios
Fixed Capital/Sales(x)	0.38	0.28	0.25	0.24
Receivable days	112.98	80.9	66.11	68.44
Inventory Days	148.36	122.84	115.9	114.58
Payable days	79.49	103.06	84.12	74.69
Valuation Parameters
PER(x)	52.21	45.95	19.14	30.31
PCE(x)	42.77	40	34.95	27.16
Price/Book(x)	4.29	5.66	6.65	5.05
Yield(%)	0.47	0.43	0.23	0.53
EV/Net Sales(x)	5.59	5.96	6.4	4.78
EV/Core EBITDA(x)	30.31	28.25	25.75	19.85
EV/EBIT(x)	35.18	31.31	27.57	21.56
EV/CE(x)	3.08	4.39	5.23	4.82
M Cap / Sales	6.05	6.37	6.59	5
Growth Ratio
Net Sales Growth(%)	6.02	39.7	33.86	16.42
Core EBITDA Growth(%)	-28.04	59.77	57.81	12.74
EBIT Growth(%)	-33.68	67.33	63.34	11.16
PAT Growth(%)	-34.09	67.19	66.31	11.55
EPS Growth(%)	-34.09	67.19	66.31	-44.22
Financial Stability Ratios
Total Debt/Equity(x)	0.07	0	0	0
Current Ratio(x)	3.65	4.59	4.28	5.04
Quick Ratio(x)	2.55	3.1	2.66	3.44
Interest Cover(x)	124.12	386.66	1452.02	3419.85
Total Debt/Mcap(x)	0.02	0	0	0

FINANCIAL RATIOS (STANDALONE) FOR SIRCA PAINTS INDIA LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	6.06	10.12	16.83	9.38
CEPS(Rs)	7.39	11.62	9.22	10.47
DPS(Rs)	1.5	2	1.5	1.5
Book NAV/Share(Rs)	73.56	82.16	96.89	56.33
Tax Rate(%)	26.49	26.95	25.76	25.52
Margin Ratios
Core EBITDA Margin(%)	8.56	18.89	23.05	22.03
EBIT Margin(%)	15.9	19.02	23.21	22.16
Pre Tax Margin(%)	15.78	18.97	23.2	22.16
PAT Margin (%)	11.6	13.86	17.22	16.5
Cash Profit Margin (%)	14.14	15.93	18.87	18.41
Performance Ratios
ROA(%)	6.96	10.44	15.4	14.78
ROE(%)	8.6	12.99	18.79	17.91
ROCE(%)	11.4	17.3	25.33	24.06
Asset Turnover(x)	0.6	0.75	0.89	0.9
Sales/Fixed Asset(x)	2.66	3.53	3.99	4.2
Working Capital/Sales(x)	0.91	1.19	1.32	1.29
Efficiency Ratios
Fixed Capital/Sales(x)	0.38	0.28	0.25	0.24
Receivable days	112.98	80.9	66.11	68.44
Inventory Days	148.36	122.84	115.9	114.58
Payable days	79.5	103.06	84.12	74.69
Valuation Parameters
PER(x)	52.13	45.94	19.14	30.3
PCE(x)	42.77	39.99	34.94	27.16
Price/Book(x)	4.29	5.66	6.65	5.05
Yield(%)	0.47	0.43	0.23	0.53
EV/Net Sales(x)	5.59	5.96	6.4	4.78
EV/Core EBITDA(x)	30.3	28.24	25.75	19.84
EV/EBIT(x)	35.14	31.31	27.57	21.56
EV/CE(x)	3.08	4.39	5.23	4.82
M Cap / Sales	6.05	6.37	6.59	5
Growth Ratio
Net Sales Growth(%)	6.02	39.7	33.86	16.42
Core EBITDA Growth(%)	-28.02	59.73	57.81	12.74
EBIT Growth(%)	-33.58	67.11	63.33	11.16
PAT Growth(%)	-34	66.98	66.3	11.55
EPS Growth(%)	-34	66.98	66.3	-44.22
Financial Stability Ratios
Total Debt/Equity(x)	0.07	0	0	0
Current Ratio(x)	3.65	4.59	4.28	5.04
Quick Ratio(x)	2.55	3.1	2.66	3.44
Interest Cover(x)	124.3	386.71	1452.15	3420.09
Total Debt/Mcap(x)	0.02	0	0	0

SHARE HOLDING PATTERN FOR SIRCA PAINTS INDIA LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	34.63	34.63	34.63	34.63	34.63	34.63	34.63	34.63	34.63	34.63
FII %	1.97	1.97	5.59	5.55	5.90	5.94	5.93	5.48	5.36	4.61
DII %	0.02	0.00	0.07	0.00	0.00	0.00	0.11	0.06	0.00	0.00
Public %	26.55	26.67	22.44	23.02	26.56	26.51	25.73	26.22	26.41	27.15

PEER COMPARISON FOR SIRCA PAINTS INDIA LIMITED

No.	Name
1	D. P. Abhushan Limited
2	Mittal Life Style Limited
3	Creative Newtech Limited
4	Shrenik Limited
5	Sirca Paints India Limited
6	Mstc Limited
7	Signet Industries Limited
8	Optiemus Infracom Limited
9	Sanco Industries Limited
10	Compuage Infocom Limited
11	BALAXI PHARMACEUTICALS LIMITED
12	Adani Energy Solutions Limited
13	Jullundur Motor Agency (Delhi) Limited
14	Sreeleathers Limited
15	Lypsa Gems & Jewellery Limited
16	Future Consumer Limited
17	Cerebra Integrated Technologies Limited
18	Hexa Tradex Limited
19	MMTC Limited
20	Sicagen India Limited
21	Vinyl Chemicals (India) Limited
22	Manaksia Limited
23	Redington Limited
24	Sakuma Exports Limited
25	India Motor Parts and Accessories Limited
26	Uniphos Enterprises Limited
27	TVS Electronics Limited
28	The State Trading Corporation of India Limited
29	Omax Autos Limited
30	Novartis India Limited
31	Sundram Fasteners Limited
32	Kothari Products Limited
33	Adani Enterprises Limited
34	HCL Infosystems Limited
35	Ausom Enterprise Limited
36	ZUARI INDUSTRIES LIMITED
37	Metroglobal Limited
38	SALORA INTERNATIONAL LTD
39	STANDARD BATTERIES LTD
40	INDTRADECO LTD
41	WINSOME DIAMONDS AND JEWELLERY LTD
42	USHDEV INTERNATIONAL LTD
43	HARIA EXPORTS LTD
44	AMFORGE INDUSTRIES LTD
45	Imec Services Ltd
46	RAMGOPAL POLYTEX LTD
47	GUJARAT COTEX LTD
48	MADHUSUDAN INDUSTRIES LTD
49	MADHUR INDUSTRIES LTD
50	RAMA VISION LTD

CORPORATE ACTIONS FOR SIRCA PAINTS

Exchange Date	Purpose	Book Closure Dates
NSE 22-Aug-2024	ANNUAL GENERAL MEETING	23-Aug-2024 29-Aug-2024
NSE 22-Aug-2024	DIV - RS 1.50 PER SH
NSE 18-Aug-2023	AGM/DIV-RS 1.50 PER SH	19-Aug-2023 25-Aug-2023
NSE 11-May-2023	BONUS 1:1
NSE 19-Jul-2022	AGM/DIV - RS 2 PER SH	21-Jul-2022 25-Jul-2022