Shalimar Paints Ltd

Q4 FY21Consumer Durables

Shalimar Paints Q4 FY21 earnings call: Revenue & Margins

Q4 FY21 investor presentation: what the company reported on revenue, margins and projects.

Price₹77

Market cap₹677 Cr

Updated24 Sept 2026

Read3 min read

Based on Shalimar Paints Ltd's Q4 FY21 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 FY21: Rs. EBITDA for FY21: Rs.

From Shalimar Paints Ltd's Q4 FY21 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Revenue from Operations for FY21: Rs. 325.6 Cr, down from Rs. 343.9 Cr in FY20 (approx. -5.3% YoY).
Volumes (KL ‘000):
Decorative Paints FY21: 31.1 vs 30.2 in FY20 (+2.98% YoY).
Industrial Paints FY21: 8.3 vs 9.6 in FY20 (-13.54% YoY).
Total volumes FY21: 356 (total volumes chart shows total vs prior years, no exact FY20 total given but implied slight decline).
The presentation notes continued focus on volume growth in Decorative and Industrial segments as part of value creation strategy.
Explicit outlook:
Strategy targets include business diversification (e.g., Sanitaryware category), market expansion, and service improvement.

2 more points management made on revenue & sales performance

Profitability & Margins

EBITDA for FY21: Rs. 3.6 Cr (from negative Rs. -33.9 Cr in FY20), showing a significant positive turnaround.
EBITDA margin FY21: 1.1% versus -9.8% for FY20.
Profit After Tax (PAT) for FY21: Rs. -49.9 Cr, compared to Rs. -38.2 Cr in FY20, indicating a higher loss.
PAT margin FY21: -15.3%, worsening from -11.1% in FY20.
Operating margin (EBIT) FY21: Rs. -2.5 Cr, improved from Rs. -43.3 Cr in FY20.

2 more points management made on profitability & margins

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

Capital Expenditure Plans

Page 15 outlines a pilot project launch in Himachal & Chandigarh focusing on business diversification.
The project feasibility and scope will be evaluated in FY22, with a decision afterwards on national-level expansion.
The diversification includes adding a comprehensive range in Bath Fittings & Accessories to the existing product range.

2 more points management made on capital expenditure plans

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Fundraising & Capital Structure

The presentation does not explicitly mention any new fundraising through debt or equity.
Balance Sheet data shows borrowings (financial liabilities) slightly increased from Rs. 18.2 Cr (Mar-20) to Rs. 24.1 Cr (Mar-21) for non-current borrowings.
Current borrowings decreased marginally from Rs. 100.7 Cr (Mar-20) to Rs. 99.6 Cr (Mar-21).
Net debt to equity ratio declined from 1.3 (Mar-20) to 0.9 (Mar-21), indicating a reduction in net debt relative to equity.
Cash and cash equivalents remained fairly stable around Rs. 2.7-2.8 Cr (Mar-21 vs Mar-20).

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 explicitly mention any details regarding order book, order inflow, or pending orders. The document focuses primarily on: - Financial performance (revenue, profits, cash flows) - Business segment performance (Decorative and Industrial Paints volumes and revenues) - Strategies for growth and diversification

2 more points management made on order book & pipeline

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 Q4 FY21 results?

Revenue from Operations for FY21: Rs. EBITDA for FY21: Rs.

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?

Page 15 outlines a pilot project launch in Himachal & Chandigarh focusing on business diversification.

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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.