Arthneeti

Ultramarine & Pigments Share Price & Earnings Call Analysis

₹355.20-0.28% today
Market cap
₹1,037 Cr
P/E
12.69
ROE
7.64%
PEG
9.40
Price to sales
1.38
Debt to equity
0.03
52W high / low
₹463 / ₹352
Sales growth (5Y)
18.06%
EBITDA margin
14.74%
Net profit margin
9.79%
Promoter holding
35.49%
Sales (last year)
₹757 Cr

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. The Company caters to both domestic and international markets.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Ultramarine & Pigments rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹234 Cr3.0
240%+Flat₹3,888 Cr48.5
340%+Flat₹3,514 Cr4.3
440%+Flat₹180 Cr11.9
540%+Flat₹138 Cr15.1
620–40%Up 2%+₹1.70L Cr85.4

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Financials of Ultramarine & Pigments

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

Financials of Ultramarine & Pigments

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +125131146148136161161179195184196196199
Expenses +105104122125116134134142166153164161173
Operating Profit20272423202627362832323426
OPM %16%21%17%16%15%16%17%20%15%17%16%18%13%
Other Income +2252234233281
Interest2222222222212
Depreciation5556666676777
Profit before tax15222217142224302327263418
Tax %25%25%21%25%24%25%23%25%26%24%25%20%23%
Net Profit +11171713111719231720192714
EPS in Rs3.755.665.914.433.725.666.387.835.836.916.639.284.85

Financials of Ultramarine & Pigments

Profit & Loss

Annual income statement trend

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +306308490557561695775
Expenses +230232406455466576651
Operating Profit77768410295119124
OPM %25%25%17%18%17%17%16%
Other Income +119911101214
Interest2245776
Depreciation991217222427
Profit before tax7875789176100105
Tax %20%26%25%24%24%25%23%
Net Profit +62565869587581
EPS in Rs21.2419.1119.9723.7019.7325.7027.66
Dividend Payout %24%26%25%21%25%23%22%

Financials of Ultramarine & Pigments

Balance Sheet

Capital structure and asset base

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital6666666
Reserves297455854730894967864
Borrowings +29385375799486
Other Liabilities +5061827097106138
Total Liabilities3815619958811,0761,1731,094
Fixed Assets +91119152238281334373
CWIP35306929302630
Investments105194551366492513376
Other Assets +149218222248274299315
Total Assets3815619958811,0761,1731,094

Financials of Ultramarine & Pigments

Cash Flows

Operating, investing and financing cash movement

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +485829627890128
Cash from Investing Activity +-39-20-63-55-51-42-148
Cash from Financing Activity +-1613-7-2-18-33-31
Net Cash Flow-751-4051015-51
Free Cash Flow615-401153762
CFO/OP87%100%56%81%100%94%120%

Financials of Ultramarine & Pigments

Ratios

Working capital efficiency and return ratios

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days47522929384238
Inventory Days9393931131098388
Days Payable80915253694969
Cash Conversion Cycle59547189797656
Working Capital Days85928279796148
ROCE %18%11%11%9%10%11%
19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−21.0%34%
Last 6 months−11.7%36%
Last 3 months−7.5%51%

The price is 37.3% below its all-time high of ₹567.85 (20 Dec 2024). Stocks more than 20% below their peak have their score halved, so 38 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ultramarine & Pigments: 0.4 × 34 + 0.4 × 36 + 0.2 × 51 = 38, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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