Price
Financials
Standalone, Rs crore| Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 5.02 | 5.92 | 5.16 | 6.50 | 5.83 | 14.80 | 8.00 | 15.74 |
| Expenses | 4.38 | 5.75 | 6.88 | 8.43 | 4.81 | 13.01 | 6.90 | 14.03 |
| Operating Profit | 0.64 | 0.17 | -1.72 | -1.93 | 1.02 | 1.79 | 1.10 | 1.71 |
| OPM % | 12.75% | 2.87% | -33.33% | -29.69% | 17.50% | 12.09% | 13.75% | 10.86% |
| Other Income | 0.01 | 0.29 | 0.11 | 5.56 | 0.13 | 0.25 | 0.01 | 0.10 |
| Interest | 0.37 | 0.02 | 0.29 | 0.40 | 0.47 | 0.46 | 0.56 | 0.83 |
| Depreciation | 0.05 | 0.26 | 0.37 | -0.07 | 0.19 | 0.22 | 0.27 | 0.31 |
| Profit before tax | 0.23 | 0.18 | -2.27 | 3.30 | 0.49 | 1.36 | 0.28 | 0.67 |
| Tax % | 26.09% | 27.78% | -5.29% | 12.73% | 26.53% | 30.15% | 32.14% | 35.82% |
| Net Profit | 0.17 | 0.13 | -2.15 | 2.89 | 0.35 | 0.95 | 0.20 | 0.44 |
| EPS in Rs | 0.92 | 0.13 | -1.54 | 2.07 | 0.25 | 0.62 | 0.13 | 0.29 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 6.04 | 6.13 | 6.56 | 10.04 | 11.66 | 20.62 | 23.74 |
| Expenses | 5.69 | 5.62 | 5.98 | 9.22 | 15.24 | 17.66 | 20.73 |
| Operating Profit | 0.35 | 0.51 | 0.58 | 0.82 | -3.58 | 2.96 | 3.01 |
| OPM % | 5.79% | 8.32% | 8.84% | 8.17% | -30.70% | 14.35% | 12.68% |
| Other Income | -0.02 | 0.00 | 0.09 | 0.30 | 5.67 | 0.39 | 0.12 |
| Interest | 0.18 | 0.36 | 0.34 | 0.40 | 0.76 | 1.09 | 1.59 |
| Depreciation | 0.07 | 0.06 | 0.10 | 0.31 | 0.30 | 0.41 | 0.58 |
| Profit before tax | 0.08 | 0.09 | 0.23 | 0.41 | 1.03 | 1.85 | 0.96 |
| Tax % | 37.50% | 44.44% | 34.78% | 26.83% | 29.13% | 29.73% | 34.38% |
| Net Profit | 0.05 | 0.05 | 0.16 | 0.30 | 0.74 | 1.30 | 0.64 |
| EPS in Rs | 0.69 | 0.69 | 0.86 | 0.29 | 0.53 | 0.85 | 0.42 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 31% | 33% | 15% | ||
| Compounded Profit Growth | % | 67% | 29% | -51% | ||
| Stock Price CAGR | % | % | -19% | -50% | ||
| Return on Equity | % | 4% | 3% | 2% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.72 | 0.72 | 1.85 | 10.24 | 13.94 | 15.34 | 15.34 |
| Reserves | 0.19 | 0.23 | 0.52 | 2.24 | 8.16 | 18.81 | 19.45 |
| Borrowings | 3.19 | 6.14 | 5.88 | 4.29 | 6.89 | 9.85 | 19.28 |
| Other Liabilities | 2.60 | 2.77 | 3.37 | 3.30 | 5.46 | 10.09 | 9.41 |
| Total Liabilities | 6.70 | 9.86 | 11.62 | 20.07 | 34.45 | 54.09 | 63.48 |
| Fixed Assets | 0.27 | 0.50 | 1.85 | 9.57 | 11.52 | 12.58 | 15.26 |
| CWIP | 0.22 | 2.54 | 1.88 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.18 | 0.18 |
| Other Assets | 6.21 | 6.82 | 7.89 | 10.50 | 22.93 | 41.33 | 48.04 |
| Total Assets | 6.70 | 9.86 | 11.62 | 20.07 | 34.45 | 54.09 | 63.48 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -1.45 | -2.51 | -0.25 | -1.26 | -8.57 | -10.79 | -4.26 |
| Cash from Investing Activity | -0.20 | -0.29 | -0.13 | -6.16 | -2.09 | -1.52 | -3.26 |
| Cash from Financing Activity | 1.62 | 2.74 | 0.54 | 7.54 | 10.65 | 12.27 | 8.08 |
| Net Cash Flow | -0.02 | -0.06 | 0.15 | 0.13 | -0.01 | -0.03 | 0.57 |
| Free Cash Flow | -1.66 | -2.81 | -0.38 | -7.42 | -10.81 | -12.25 | -7.52 |
| CFO/OP | -406% | -484% | -29% | -143% | 237% | -357% | -127% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 172.83 | 219.71 | 205.31 | 151.60 | 356.55 | 418.63 | 354.24 |
| Inventory Days | 242.62 | 248.16 | 292.89 | 225.48 | 462.65 | 230.55 | 438.76 |
| Days Payable | 209.34 | 201.81 | 211.88 | 151.30 | 230.99 | 203.50 | 143.73 |
| Cash Conversion Cycle | 206.11 | 266.06 | 286.32 | 225.78 | 588.21 | 445.69 | 649.26 |
| Working Capital Days | 122.67 | 135.16 | 132.42 | 169.05 | 398.18 | 416.86 | 408.51 |
| ROCE % | 8.04% | 7.43% | 6.47% | 7.78% | 8.06% | 5.20% |
| May 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Promoters | 59.28% | 59.28% | 59.28% | 59.28% | 53.87% | 53.87% | 53.87% |
| Public | 40.72% | 40.72% | 40.71% | 40.72% | 46.12% | 46.13% | 46.12% |
| No. of Shareholders | 753 | 342 | 338 | 342 | 369 | 401 | 405 |
Fundamentals
Market Cap₹ 56.2 Cr.
Current Price₹ 36.6
Stock P/E87.8
Book Value₹ 22.7
ROCE5.20 %
ROE1.86 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)-51%
Standalone figures.
Valuation
Market capRs 33 Cr
Enterprise valueRs 37 Cr
P/E (TTM)109.23x
Price to book2.63x
Price to sales3.26x
EV / EBITDA32.77x
EV / EBIT45.31x
EV / sales3.66x
Earnings yield0.92%
Profitability
Operating margin (excl. other income)8.17%
Operating margin (incl. other income)11.16%
EBITDA margin11.16%
Pre-tax margin4.08%
Net profit margin2.99%
ROE4.04%
ROCE6.47%
ROA1.89%
ROE, 3-year average6.35%
ROCE, 3-year average7.32%
ROA, 3-year average1.33%
ROIC (approx.)3.61%
Tax rate26.83%
Other income / net worth2.40%
Growth
Sales growth (latest year)53.05%
Profit growth (latest year)87.50%
Sales CAGR, 3 years18.46%
Profit CAGR, 3 years81.71%
Per share
EPS (TTM)Rs 0.29
EPS (latest year)Rs 0.29
EPS, 3-year averageRs 0.62
Book value per shareRs 12.19
Sales per shareRs 9.80
Cash flow per shareRs -1.23
Free cash flow per shareRs -7.34
Efficiency
Asset turnover0.50x
Fixed asset turnover1.05x
Inventory turnover1.80x
Inventory days202 days
Debtor days152 days
Debtors turnover2.41x
Creditor days144 days
Cash conversion cycle649 days
Working capital days409 days
Leverage
Total debtRs 4 Cr
Cash and bankRs 0 Cr
Net debtRs 4 Cr
Debt to equity0.34x
Net debt / EBITDA3.51x
Interest coverage2.02x
Owners' fund to total sources62.18%
Debt to assets21.38%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Investing Activity (latest year)Rs -6 Cr
Cash from Financing Activity (latest year)Rs 8 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -8 Cr
FCFE (approx.: FCF + change in debt)Rs -9 Cr
Cash from ops / profit, 5 years-8.00x
Statement figures
Net sales (TTM)Rs 10 Cr
Net sales (latest year)Rs 10 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 1 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs 0 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 7 Cr
Total expenditure (latest year)Rs 9 Cr
Total income (latest year)Rs 10 Cr
Share capitalRs 10 Cr
ReservesRs 2 Cr
Shareholders' fundsRs 12 Cr
Total assetsRs 20 Cr
Net blockRs 10 Cr
ReceivablesRs 4 Cr
InventoryRs 4 Cr
Other liabilitiesRs 3 Cr
Shares outstanding (crore)1.02
Ownership
Promoter holding53.87% (-5.41 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 2.63 is the lowest in 3.4 years (median 59.64).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 543902 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -13.3% | -2.8% | -10.5 pts |
| 1 month | -24.3% | -6.8% | -17.5 pts |
| 3 months | -31.4% | -7.6% | -23.8 pts |
| 3 years | -53.2% | +14.2% | -67.4 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -788% of net profit over the last 3 years |
| explain | Share dilution Share count up 467% in a year, 1357% in three |
| look | Profit leans on other income Other income was 73% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2026Sales ₹16 Cr +142.2% vs Mar 2024.
Net profit ₹0 Cr -84.8%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Asian Paints Ltd | 231,646 | 47.5 | 26.3 % |
| Berger Paints India Ltd | 52,260 | 42.6 | 21.6 % |
| Kansai Nerolac Paints Ltd | 14,667 | 22.8 | 12.0 % |
| JSW Dulux Ltd | 13,819 | 36.0 | 22.7 % |
| Indigo Paints Ltd | 5,163 | 31.2 | 17.9 % |
| Sirca Paints India Ltd | 2,320 | 34.6 | 20.3 % |
| Shalimar Paints Ltd | 652 | -7.93 % | |
| Kamdhenu Ventures Ltd | 134 | 2.23 % | |
| Siddhika Coatings Ltd | 129 | 13.4 | 31.9 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Retina Paints Ltd?
Retina Paints Ltd (543902) has a market capitalisation of Rs 56.2 Cr. at the 2026-10-01 close.
What is the P/E ratio of Retina Paints Ltd?
Retina Paints Ltd trades at a P/E of 87.8 on trailing twelve-month profit, at the 2026-10-01 close.
What were Retina Paints Ltd's latest quarterly results?
In the Mar 2026 quarter, Retina Paints Ltd sales was Rs 16 Cr (+142.2% vs Mar 2024) and net profit was Rs 0 Cr.