Sirca Paints India Limited has informed the Exchange about Transcript
SIRCA · price
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Sirca Paints reported strong Q4 FY26 results with revenue of INR 134.29 Cr (up 33% YoY) and full-year FY26 revenue of INR 492.48 Cr (up 32% YoY). EBITDA for FY26 stood at INR 98.88 Cr with margin of 20.08% (up from 18.05% in FY25). The company derives ~INR 372 Cr from core Sirca operations and ~INR 120.8 Cr from recently acquired Wembley and Welcome brands. Management guided for 25-30% CAGR revenue growth and EBITDA margins of 19-21% going forward, with a target of INR 1,000 Cr revenue by FY29. The company is undergoing a major transition from import-dependent trading to domestic manufacturing — 95% of products previously imported from Italy will now be produced in India, which improved gross margins but competitive pricing actions have offset EBITDA gains. Two price increases of 5% each have been taken to offset raw material inflation. The company faces short-term margin pressure due to crude-linked raw material volatility and nitrocellulose supply shortages from supplier Nitrex.
Strong operational performance with clear growth path to INR 1,000 Cr by FY29. Margin guidance of 19-21% provides reasonable visibility though near-term headwinds from raw material costs and Wembley integration challenges persist.