Shalimar Paints Ltd Q2 FY24 Share Price & Earnings Call Analysis

Financials of Shalimar Paints Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Shalimar Paints Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +135.36125.63119.14145.88144.26128.33144.74148.48177.83154.56133.81131.33155.93
Expenses +141.37130.26139.23152.84166.75149.51157.57164.37185.18162.19140.07141.92153.85
Operating Profit-6.01-4.63-20.09-6.96-22.49-21.18-12.83-15.89-7.35-7.63-6.26-10.592.08
OPM %-4.44%-3.69%-16.86%-4.77%-15.59%-16.50%-8.86%-10.70%-4.13%-4.94%-4.68%-8.06%1.33%
Other Income +3.441.612.271.602.640.861.390.836.761.563.31-3.830.88
Interest3.873.974.332.492.172.884.395.414.876.156.497.055.65
Depreciation3.183.283.473.694.403.843.794.094.064.554.705.185.14
Profit before tax-9.62-10.27-25.62-11.54-26.42-27.04-19.62-24.56-9.52-16.77-14.14-26.65-7.83
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-5.62%
Net Profit +-9.62-10.27-25.62-11.54-26.42-27.04-19.62-24.56-9.52-16.77-14.14-26.65-7.39
EPS in Rs-1.33-1.42-3.55-1.38-3.16-3.23-2.34-2.93-1.14-2.00-1.69-3.18-0.88

Financials of Shalimar Paints Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +416384350271288344326358484535599576
Expenses +407354335305349377322381499589656598
Operating Profit93014-34-61-344-22-15-54-57-22
OPM %2%8%4%-13%-21%-10%1%-6%-3%-10%-9%-4%
Other Income +2111-1485-378102
Interest212223262520192216131825
Depreciation5588911131313151620
Profit before tax-154-15-67-109-56-24-61-36-74-80-65
Tax %-29%-23%-36%-32%-25%-32%110%-1%0%0%0%-1%
Net Profit +-115-10-46-82-38-50-60-36-74-80-65
EPS in Rs-1.870.93-1.72-8.10-15.25-7.03-9.18-8.36-5.01-8.82-9.58-7.76
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of Shalimar Paints Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital44441111111414171717
Reserves5862180134295262212336338376298234
Borrowings +130137171179154121131168140106164165
Other Liabilities +191188180177135142152128134170223225
Total Liabilities382391535494594536506647627670702641
Fixed Assets +7675222250246295283276272275303300
CWIP1614124000235270
Investments003000000000
Other Assets +305311296244325241222371353360372341
Total Assets382391535494594536506647627670702641

Financials of Shalimar Paints Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +38383436-94-916-62-4818-59
Cash from Investing Activity +-26-7-16-11-34-28-5-6-84-51-14
Cash from Financing Activity +-16-23-19-18198-46-11225-74427
Net Cash Flow-38-1770-83-0157-13911-46
Free Cash Flow11292422-127-4214-65-59-38-83
CFO/OP430%125%241%-104%153%28%443%275%322%-32%102%

Financials of Shalimar Paints Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days13513613014212676898081769088
Inventory Days12615413912911813614613012011011296
Days Payable187218193244162151183133102134161166
Cash Conversion Cycle737275288261527798524118
Working Capital Days48-25-138-80-51-66-15830-27-57
ROCE %2%13%3%-12%-18%-10%-1%-7%-4%-13%-13%-8%