Shalimar Paints Ltd

Q1 FY22Consumer Durables

Shalimar Paints Q1 FY22 earnings call: Revenue & Margins

Q1 FY22 investor presentation: what the company reported on revenue, margins and projects.

Price₹77

Market cap₹677 Cr

Updated24 Sept 2026

Read4 min read

Based on Shalimar Paints Ltd's Q1 FY22 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Revenue from Operations for Q1 FY22: Rs. Q1 FY22 EBITDA: -₹8.9 crore, compared to -₹5.3 crore in Q1 FY21 (worsened YoY) - Q1 FY22 Operating Margin (EBITDA %): -13.6% approx (calculated as EBITDA ₹-8.9 cr / Revenue ₹65.2 cr), down from ~-11.9% in Q1 FY21 - Q1 FY22 Profit after Tax (PAT): -₹19.4 crore vs.

From Shalimar Paints Ltd's Q1 FY22 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Revenue from Operations for Q1 FY22: Rs. 65.2 Cr, up from Rs. 44.5 Cr in Q1 FY21 (approx. 46.5% YoY increase).
Volumes: Not explicitly given for Q1, but FY21 decorative paints volumes: 31.1 KL ‘000; industrial paints volumes: 8.3 KL ‘000.
Gross Profit for Q1 FY22: Rs. 15.8 Cr (24.3% GP%), compared to Rs. 13.5 Cr (30.3% GP%) in Q1 FY21.
Profit for Q1 FY22: Rs. -19.4 Cr, versus Rs. -10.6 Cr in Q1 FY21.
Raw material costs increased by 50%+ YoY; selling prices partially increased during quarter.

2 more points management made on revenue & sales performance

Profitability & Margins

Q1 FY22 EBITDA: -₹8.9 crore, compared to -₹5.3 crore in Q1 FY21 (worsened YoY)
Q1 FY22 Operating Margin (EBITDA %): -13.6% approx (calculated as EBITDA ₹-8.9 cr / Revenue ₹65.2 cr), down from ~-11.9% in Q1 FY21
Q1 FY22 Profit after Tax (PAT): -₹19.4 crore vs. -₹10.6 crore in Q1 FY21 (decline YoY)

Explicit margin outlook: The presentation notes raw material prices increased over 50% YoY impacting profitability; company partially raised selling prices and will decide future pricing strategies in coming quarters. Also mentions cost pressures from freight and diesel prices.
Demand scenario is improving with expected volume pick-up due to real estate sector growth, implying a cautiously optimistic outlook going forward.

2 more points management made on profitability & margins

See what Shalimar Paints Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Pilot project launch in Himachal & Chandigarh planned for FY22 to evaluate feasibility and scope for potential national expansion (Page 15).
Business diversification into Sanitaryware category with a comprehensive range in Bath Fittings & Accessories to augment existing product portfolio (Page 15).
No specific capex amounts or detailed timelines mentioned for these projects.

2 more points management made on capital expenditure plans

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Fundraising & Capital Structure

Page 17 (Balance Sheet Strength) shows borrowings and cash balances from FY17 to FY21:
Borrowings decreased slightly from Rs. 131 Cr in Mar-17 to Rs. 124 Cr in Mar-21.
Cash and cash equivalents increased from Rs. 8 Cr in Mar-17 to Rs. 8.2 Cr in Mar-21.
Debt to equity ratio declined from around 1.3 in Mar-17 to 0.9 in Mar-21.
Net debt to equity decreased from about 0.6 in Mar-17 to 0.5 in Mar-21.
Page 22 (Cashflow Statement) details cash flows:
Cash flow from financing activities was negative at Rs. -9.5 Cr in Mar-21, showing repayments or reduction in borrowings.

2 more points management made on fundraising & capital structure

See what Shalimar Paints Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation does not report any specific figures or details related to order book, order inflow, or pending orders. There is no mention or data provided in the slides about the status or value of orders received or pending. The presentation primarily focuses on financial performance, business strategy, CSR initiatives, operational improvements, and segment performance without addressing order book or order inflow metrics.

Shalimar Paints Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹156 Cr, net loss ₹7 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Shalimar Paints Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Shalimar Paints Ltd Q1 FY22 results?

What is Shalimar Paints Ltd share price analysis?

Shalimar Paints Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹677 Cr. Investors should review the full earnings analysis for detailed insights.

Is Shalimar Paints Ltd planning capital expenditure?

Pilot project launch in Himachal & Chandigarh planned for FY22 to evaluate feasibility and scope for potential national expansion (Page 15). - Business diversification into Sanitaryware category with a comprehensive range in Bath Fittings & Accessories to augment existing product portfolio (Page 15). - No specific capex amounts or detailed timelines mentioned for these projects. - Capital Work-in-progress amounts: Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.