NSEI:SIRCA

Stock Analysis Report

Sirca Paints India

Executive Summary

Sirca Paints India Limited markets, trades in, and distributes wood, metal, and glass coatings in India.


Snowflake Analysis

Flawless balance sheet with proven track record.


Similar Companies

Share Price & News

How has Sirca Paints India's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SIRCA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.3%

SIRCA

-1.0%

IN Retail Distributors

-1.4%

IN Market


1 Year Return

116.0%

SIRCA

-26.3%

IN Retail Distributors

6.4%

IN Market

Return vs Industry: SIRCA exceeded the Indian Retail Distributors industry which returned -25.2% over the past year.

Return vs Market: SIRCA exceeded the Indian Market which returned 9.5% over the past year.


Shareholder returns

SIRCAIndustryMarket
7 Day0.3%-1.0%-1.4%
30 Day31.6%0.5%-3.3%
90 Day31.3%-4.7%0.4%
1 Year117.1%116.0%-26.0%-26.3%8.4%6.4%
3 Yearn/a-11.4%-12.7%20.9%14.1%
5 Yearn/a-66.6%-66.8%30.7%18.5%

Price Volatility Vs. Market

How volatile is Sirca Paints India's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sirca Paints India undervalued compared to its fair value and its price relative to the market?

28.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SIRCA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SIRCA's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: SIRCA is good value based on its PE Ratio (28.7x) compared to the Retail Distributors industry average (67.7x).

PE vs Market: SIRCA is poor value based on its PE Ratio (28.7x) compared to the Indian market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SIRCA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SIRCA is overvalued based on its PB Ratio (4.9x) compared to the IN Retail Distributors industry average (0.7x).


Next Steps

Future Growth

How is Sirca Paints India forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.8%

Forecasted Retail industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Sirca Paints India has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Sirca Paints India performed over the past 5 years?

26.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SIRCA has a high level of non-cash earnings.

Growing Profit Margin: SIRCA's current net profit margins (20.8%) are higher than last year (18.1%).


Past Earnings Growth Analysis

Earnings Trend: SIRCA's earnings have grown significantly by 26.3% per year over the past 5 years.

Accelerating Growth: SIRCA's earnings growth over the past year (51%) exceeds its 5-year average (26.3% per year).

Earnings vs Industry: SIRCA earnings growth over the past year (51%) exceeded the Retail Distributors industry -10.3%.


Return on Equity

High ROE: SIRCA's Return on Equity (16.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sirca Paints India's financial position?


Financial Position Analysis

Short Term Liabilities: SIRCA's short term assets (₹1.6B) exceed its short term liabilities (₹312.7M).

Long Term Liabilities: SIRCA's short term assets (₹1.6B) exceed its long term liabilities (₹810.0K).


Debt to Equity History and Analysis

Debt Level: SIRCA's debt to equity ratio (0.01%) is considered satisfactory.

Reducing Debt: SIRCA's debt to equity ratio has reduced from 102.3% to 0.01% over the past 5 years.

Debt Coverage: SIRCA's debt is well covered by operating cash flow (131272%).

Interest Coverage: SIRCA earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: SIRCA has a high level of physical assets or inventory.

Debt Coverage by Assets: SIRCA's debt is covered by short term assets (assets are 14437.3x debt).


Next Steps

Dividend

What is Sirca Paints India's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%0.6%markettop25%2.6%industryaverage1.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate SIRCA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate SIRCA's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SIRCA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SIRCA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SIRCA's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average board tenure


CEO

Sanjay Agarwal 0

₹7,200,000

Compensation

Mr. Sanjay Agarwal Co-Founded Sirca Paints India Pvt Ltd. and serves as its Chairman cum Managing Director. Mr. Agarwal served as Chief Managing Director. Mr. Agarwal is Chartered accountant with Experienc ...


CEO Compensation Analysis

Compensation vs Market: Sanjay's total compensation ($USD100.23K) is above average for companies of similar size in the Indian market ($USD50.06K).

Compensation vs Earnings: Sanjay's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Sanjay Agarwal
Co Founder0yrs₹7.20m32.32% 2.9b
Apoorv Agarwal
Joint MD & Director14.1yrs₹3.00m2.09% 188.9m
Gurjit Bains
Co-Founder & Non Executive Director14.1yrs₹20.00k14.11% 1.3b
Archana Agarwal
Non Executive & Independent Director2.1yrs₹40.00kno data
Sanjay Kapoor
Non Executive & Independent Director2.2yrs₹50.00kno data
Ugo Pelosin
Non Executive & Non Independent Director1.4yrs₹5.00kno data
Anu Chauhan
Additional Non Executive Independent Director0.6yrsno datano data
Anil Mehrotra
Additional Non Executive Independent Director0.6yrsno datano data

2.1yrs

Average Tenure

32yo

Average Age

Experienced Board: SIRCA's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.3%.


Top Shareholders

Company Information

Sirca Paints India Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sirca Paints India Limited
  • Ticker: SIRCA
  • Exchange: NSEI
  • Founded: 2006
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: ₹9.050b
  • Shares outstanding: 27.40m
  • Website: https://www.sircapaints.com

Location

  • Sirca Paints India Limited
  • Plot No 50, Badli Industrial Area
  • Phase -2
  • Delhi
  • Delhi
  • 110042
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIRCANSEI (National Stock Exchange of India)YesEquity SharesININRMay 2018

Biography

Sirca Paints India Limited markets, trades in, and distributes wood, metal, and glass coatings in India. Its wood coatings include wood stains, polyurethane polishes, wood fillers, and water based products for exterior and interior applications, as well as polyest, acrylic, and wood care products; metal coatings, clear finishes, and pigmented coatings; and glass coatings, leafing, and special effects. The company also exports its products to Nepal, Sri Lanka, and Bangladesh. Sirca Paints India Limited was incorporated in 2006 and is based in Delhi, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 13:10
End of Day Share Price2020/02/24 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.