Sirca Paints India LimitedQ1 FY27 Results & Financial Update
Sirca Paints India Limited: Q1 FY27 consolidated results and company financials – revenue ₹130.01 Cr, PAT ₹16.21 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Sirca Paints India Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the quarter ended June 30, 2026 (Q1 FY27), Sirca Paints India Limited reported consolidated revenue from operations of INR 130.01 crore, representing an increase of 13.80% compared to INR 114.24 crore in the corresponding quarter of the previous year. Sequentially, revenue moderated by 3.19% from INR 134.29 crore recorded in the quarter ended March 31, 2026.
Total income for the quarter stood at INR 131.61 crore, incorporating other income of INR 1.61 crore. This compares with total income of INR 114.45 crore in Q1 FY25 and INR 135.51 crore in Q4 FY26.
Profit before tax (PBT) for Q1 FY27 reached INR 22.14 crore, marking a 15.37% growth over INR 19.19 crore in the year-ago period, while decreasing 3.70% on a quarter-on-quarter basis from INR 22.99 crore.
Profit after tax (PAT) for the quarter settled at INR 16.21 crore, representing a year-on-year expansion of 14.09% compared to INR 14.20 crore in Q1 FY25. On a sequential basis, net profit decreased by 8.36% from INR 17.68 crore reported in Q4 FY26, influenced by sequential movements in operational expenses and tax provisions.
Basic and diluted earnings per share (EPS) for the quarter stood at INR 2.85, compared to INR 2.59 in the corresponding period of the previous year and INR 3.16 in the preceding quarter. The EPS figures are not annualized.
Total expenses for the quarter were reported at INR 109.47 crore, lower than INR 112.52 crore incurred in the preceding quarter but higher than INR 95.26 crore in the corresponding quarter of the previous year, reflecting scale-driven input consumption alongside cost management.
Revenue from operations increased 13.8% year on year and decreased 3.2% sequentially.
01 · Business model
What does Sirca Paints India do?
Sirca Paints India Limited specializes in the manufacturing, repackaging, and distribution of high-end wood coatings, wall paints, and related finishing products. Its product catalogue caters primarily to architectural, interior design, and premium residential or commercial finishing segments requiring specialised Italian wood finishes.
The company distributes its offerings through an established network across India, relying on direct dealer relationships, applicators, and distribution channels. Its operational model combines domestic repackaging and production capabilities with specialized coating formulations.
Sirca operates on a consolidated reporting structure that includes its subsidiary, Sirca Industries Limited. The consolidated financial statements reflect identical figures to the standalone accounts as the subsidiary did not engage in active commercial operations or record operating revenue during the period.
02 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹130.01 Cr | ₹114.24 Cr | ₹134.29 Cr |
| Total income | ₹131.61 Cr | ₹114.45 Cr | ₹135.51 Cr |
| Profit before tax | ₹22.14 Cr | ₹19.19 Cr | ₹22.99 Cr |
| Profit after tax | ₹16.21 Cr | ₹14.20 Cr | ₹17.68 Cr |
| EPS | ₹2.85 | ₹2.59 | ₹3.16 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 12.5% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 17.0% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.61 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations expanded by 13.80% year-on-year to INR 130.01 crore for Q1 FY27, driven by core demand in specialized wood and wall coatings.
Quarterly revenue contracted by 3.19% compared to the March 2026 quarter (INR 134.29 crore), reflecting typical seasonal variations in painting and construction activity.
What drove margins
Cost of materials consumed was reported at INR 58.70 crore for the quarter, alongside stock-in-trade purchases of INR 8.60 crore and inventory adjustments of INR 3.54 crore.
Employee benefit expenses stood at INR 14.78 crore for Q1 FY27, compared to INR 12.77 crore in Q4 FY26 and INR 12.55 crore in Q1 FY25.
Other operational expenses were recorded at INR 20.17 crore for the quarter, reflecting overheads associated with distribution and marketing.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates within a single primary business segment: manufacturing and repackaging of wood, wall paints, and related products. Consequently, separate segment reporting under Ind AS 108 is not applicable.
05 · Strategy & new businesses
How the company is trying to change its growth mix
The company's wholly-owned subsidiary, Sirca Industries Limited, did not undertake active business operations during the quarter ended June 30, 2026, resulting in zero standalone business activity recorded in its books.
06 · Reported developments
What changed operationally
Consolidated PAT grew by 14.09% year-on-year to INR 16.21 crore, demonstrating resilient profitability over the corresponding period of the previous year.
07 · Pressure points & risks
What is not going smoothly
Top-line and bottom-line metrics exhibited sequential contraction compared to the quarter ended March 31, 2026, with revenue down 3.19% and PAT down 8.36%.
08 · Items worth noticing
The line items that can distort a quick read
Total tax expense for the quarter was reported at INR 5.93 crore, comprising current tax of INR 5.45 crore and deferred tax of INR 0.48 crore.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Finance costs for the quarter were reported at INR 0.99 crore, remaining stable compared to INR 1.00 crore in the preceding quarter and lower than INR 1.28 crore in the corresponding quarter of the previous year.
Depreciation and amortisation expenses stood at INR 2.69 crore for Q1 FY27, compared to INR 2.93 crore in Q4 FY26 and INR 2.48 crore in Q1 FY25.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Labour Codes Assessment
The company evaluated the notified Labour Codes under the central regulations and assessed that provisions currently in force do not have a material impact on the consolidated financial results for the quarter.
11 · Key Q&A
The quarter, answered directly
What does Sirca Paints India do?
Sirca Paints India Limited specializes in the manufacturing, repackaging, and distribution of high-end wood coatings, wall paints, and related finishing products. Its product catalogue caters primarily to architectural, interior design, and premium residential or commercial finishing segments requiring specialised Italian wood finishes.
What is the clearest takeaway from Q1 FY27?
For the quarter ended June 30, 2026 (Q1 FY27), Sirca Paints India Limited reported consolidated revenue from operations of INR 130.01 crore, representing an increase of 13.80% compared to INR 114.24 crore in the corresponding quarter of the previous year. Sequentially, revenue moderated by 3.19% from INR 134.29 crore recorded in the quarter ended March 31, 2026.
What drove revenue or demand?
Revenue from operations expanded by 13.80% year-on-year to INR 130.01 crore for Q1 FY27, driven by core demand in specialized wood and wall coatings.
What mattered most for margins or profitability?
Cost of materials consumed was reported at INR 58.70 crore for the quarter, alongside stock-in-trade purchases of INR 8.60 crore and inventory adjustments of INR 3.54 crore.
What changed operationally beyond the headline numbers?
The company's wholly-owned subsidiary, Sirca Industries Limited, did not undertake active business operations during the quarter ended June 30, 2026, resulting in zero standalone business activity recorded in its books.
What are the main pressure points disclosed for the quarter?
Top-line and bottom-line metrics exhibited sequential contraction compared to the quarter ended March 31, 2026, with revenue down 3.19% and PAT down 8.36%.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Sequential Demand Recovery: Monitor subsequent quarterly revenue trajectories to track recovery from the Q1 FY27 sequential moderation.
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