Sirca Paints India Limited has informed the Exchange about Investor Presentation
May 22, 2025
To, The Managing Director National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1 G-Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051 NSE Symbol-SIRCA
To, The General Manager BSE Limited Department of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001 BSE Scrip Code:543686
SUB: SUBMISSION OF INVESTOR PRESENTATION
Dear Sir/Ma’am,
Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosures find enclosed herewith Earnings Requirements) Regulations, 2015, please Presentation of Q4 & FY25 of the Company.
This is for your information and record.
Thanking you,
Yours faithfully, For Sirca Paints India Limited
Hira Kumar Company Secretary & Compliance Officer
Encl: As above
EARNINGS EARNINGS PRESENTATION
MAY, 2 0 2 5
COMPANY PROFILE PROFILE
INTRODUCTION
Sirca Paints India Limited (SPIL) is a leading manufacturer of wood coating products in India, with a history spanning
two decades. Offering premium quality wood finishes under brands like 'Sirca' and 'Unico', SPIL caters to the
emerging aesthetic needs of the furnishing market. With state of art manufacturing facilities in place,
SPIL is poised to become a top player in India s wood coatings sector. Eyeing global expansion, SPIL aims to SPIL is poised to become a top player in India's wood coatings sector. Eyeing global expansion, SPIL aims to
export its products to countries like Nepal, Bangladesh, and Sri Lanka.
About Sirca S.P.A (Italy) About Sirca S P A (Italy)
Established in 1973, Sirca is a key player in the Durante Group specializing in Italian wood paints. With a global presence
in 85+ countries,
the company boasts 2 production plants and over 800+ employees.
Its focus on
research and development
is evident with over 20% of staff dedicated to technical
roles. Sirca's
premium wood coatings are developed in collaboration with Italy’s top furniture brands.
85+
Countries
779
Employees
2
€180+ Mn
Production Plant
Turnover
SPIL AT A GLANCE SPIL AT A GLANCE
EXCLUSIVE LICENSEE
Established E t bli h d
Of Gl b ll ‘Sirca’ ‘Si Of Globally ’ brand for India, Nepal, Bangladesh and Sri Lanka
05
Manufacturing Facilities
10+
Display Units
MARKET LEADER
Among the Top 3 Premium wood coatings brand in India Market Leader in North India
764 764
Team Strength
4,000+ 4 000
Nodes in Distribution Network
OEM VENDOR Preferred OEM Vendor on its way to become a Dominating Retail Brand Brand
26
Branches & Depots
900+
OEM’s Clientele OEM’ Cli
t l
VALUE PROPOSITION
The promise and quality of ‘Made in Italy’ blended with innovation, research and development to provide the most sophisticated and customized products and services in the paints industry.
CORE OFFERING
Premium Italian W ood Coatings
Metal Coatings
Glass Coatings Gl C
EARNINGS PRESENTATION
sircapaints.com
VALUE PROPOSITION
Recent Additions to our Product Portfolio Expansion
WALL PAINTS RANGE
WOOD COATINGS
MASS MARKET RANGE
Nitrocellulose (NC), Melamine, PU
Coatings and Thinners
Hygiene Plus Additives
WALL PAINTS &OTHERS WALL PAINTS &OTHERS
OIKOS Portfolio
(Decorative, Solid Colour Finishes, and Texture Coatings)
DuranteVivan Portfolio (Adhesives)
BRAND PORTFOLIO
PRIC ING
Sirca
Unico
Luxury Italian Wood Coatings
Mass-market Wood Coatings
products
* T N E N
I
T N O C B U S
I
N A D N
I
OIKOS
Welcome
Colour Finishes and Texture
Paint Thinners & Reducers
Coatings High-end
Decorative, Solid
WEMBLEY (Newly Acquired)
Decorative Items (Enamels, Nc, Wall paints etc.)
Sanding Sealer, TT Clear, Lacquer etc.
* I n c l u d e s I n d i a , B a n g l a d e s h , N e p a l a n d S r i L a n k a
p
g
,
,
I
A D N
I
ECONOMIC
ENTRY-LEVEL
LUXURY
SIRCA’S FOOTPRINT
MOHALI
KARNAL
RAI & SONIPAT
DELHI
GURUGRAM
INDORE INDORE
NAGPUR
MUMBAI
THRISSUR
4000+
26
Dealers & Distributors
Branches & Depot
10+
Display Units Displa Units
05
Man fact ring Manufacturing Facilities
JAGADHARI
NOIDA
AMBALA
NEPAL
DEHRADUN
SILLIGURI
GUWAHATI
BANGLADESH BANGLADESH
KOLKATA
KEY
Branches
EXPORT MARKETS
RAIPUR
Manufacturing Facilities
Sirca Studios
CHENNAI
SRI LANKA
CUSTOMER SEGMENTS
RETAIL
~70%
Revenue Contribution
4000+ 4000+
Aggressively growing Distribution Network
GROWTH STRATEGY
Chain of studios being opened across India,
currently 26 branches are operational.
Creating a wider and diverse product p ortfolio
expanding &strengthening the distribution
network.
* EXCLUDING OEM’S
OEM’s
~30%
Revenue Contribution
APPROACH
Dealing in Premium products.
Providing strong technical support and after sales
services to OEM’s.
CLIENTELE (OF 900+ OEM’S)
Key Clientele includes: Godrej, Jindal Stainless,
Indoline, S p a c e Wood, Pyramid, MAS Furniture,
Alsorg, Soundarya Decorators, etc.
MANUFACTURING FACILITIES
COMMISSIONED
CAPEX of ~33.20 CR
In Nov’2019, Sirc a commissioned a manufacturing facility for Nitrocellulose, Melamine, Economical PU products, and PU thinner at Sonipat ( N C R )
This unit has b een established with a total CAPEX
of ~33.20 Crores, as a primary ‘Object of Issue’
from our initial public offer in 2018.
COMMISSIONED WALL PAINT & WALL PUTTY MANUFACTURING
In Q1FY21 the c omp a n y shifted it’s wall paint manufacturing unit to a new, bigger premises in response to higher than originally anticipated
Demand
Besides the existing facilities post acquisition of Wembley paints, three more manufacturing units have been added
MAXIMUM CAPACITY 550 CR
At peak c a p a c i t y utilization this manufacturing facility has the c a p a c i t y to gen era t e ~550 Crores in revenue with an optimal p rod u c t mix.
PRODUCTION CAPACITY
30 000 Tonnes For PU NC Melamine 30,000 Tonnes For PU, NC, Melamine ,Thinner and Wa ll Paints products.
MARKETING AND PROMOTIONAL ACTIVITIES
~1000+ Shop boards installed in current quarter resulting in ~1000+ Shop boards installed in current quarter resulting in
enhanced visibility. Refreshed brand positioning as “Your Italian
Autograph”.
g p
ENGAGEMENT THAT BUILDS COMMUNITY (SHAKTI,IDAC )
MARKETING AND PROMOTIONAL ACTIVITIES
Sirca actively invests in high-impact engagement industry professionals, partners, and influencers. Events like Shakti — a celebration of our female workforce and leadership — and our participation in IDAC Exhibition, India’s premier architecture and design event, underscore our commitment to community, recognition, and d iti trust, showcase innovation, and strengthen innovation. These platforms help foster relationships across our ecosystem.
initiatives that bring together
d d i
t t
hit
d
it
it
t
t
MARKETING AND PROMOTIONAL ACTIVITIES
STRENGTHENING BRAND EQUITY- DIGITAL & EDITORIAL PRESENCE DIGITAL & EDITORIAL PRESENCE
footprint continues to grow through strategic features in leading design Sirca’s digital publications and platforms. Our projects with renowned architects have been showcased in Livingetc & Elle Decor and other top tier outlets Livingetc & Elle Decor and other top-tier outlets — amplifying visibility among designers, amplifying visibility among designers Specifiers, and premium homeowners.
SHOWCASING INNOVATION AT INDIAWOOD 2025
MARKETING AND PROMOTIONAL ACTIVITIES
Sirca made a strong mark at Indiawood 2025, showcasing cutting-edge finishes and sustainable surface solutions.
The event reinforced our leadership in premium wood coatings and deepened engagement with The event reinforced our leadership in premium wood coatings and deepened engagement with industry stakeholders.
ARCHITECTS’ MEET – MALDIVES 2025
MARKETING AND PROMOTIONAL ACTIVITIES
Sirca hosted an exclusive meet with leading architects in the serene setting of the Maldives, fostering dialogue around design innovation and surface excellence.
The event strengthened brand relationships and positioned Sirca as a trusted partner in The event strengthened brand relationships and positioned Sirca as a trusted partner in premium interior solutions.
STRATEGIC EXPANSION: ACQUISITION OF WEMBLEY
Sirca Paints India Ltd. Acquires "Wembley" Brand, Expanding Platform and Its Product Portfolio
New Delhi, 20-March-2025 – Sirca Paints India Ltd. proudly announces the acquisition of the entire business under the brand name "Wembley" from Wembley Paints & Chemicals and Indo Wembley Paints Private Limited.
With this acquisition, Sirca Paints will integrate Wembley’s full range of products, including thinners, wall paints, enamels, NC (nitrocellulose), melamine, and other coatings, into its portfolio.
SALIENT FEATURES OF WEMBLEY
Established in 1961, Wembley is a legacy brand known for its high-recall NC sealers and lacquers, trusted for performance and quality for over six decades.
Has a very high product recall and enviable product features.
Has a huge potential to grow across India ( operating matrix being optimized ) now than earlier operations)
p
CONTRACTOR LOYALTY PROGRAM Sirca Parivaar 2.0 – App Update Si
2 0 A U d t
P i
25,000+
Contractors Registered Contractors Registered
20,000+
Average Daily Product Scans Average Daily Product Scans
5000+
Average Daily Users Average Daily Users
Enhanced Version of Sirca Parivaar App
The main objective of this app is to automate the
process of loyalty program and streamline the process
of rewards and redemption. d
d
d
f
Key Features
Specifically designed for architects, contractors, and dealers Specifically designed for architects, contractors, and dealers
using Sirca products
Bringing all industry stakeholders together on the application
Automate Sirca loyalty program
Maintain, view reward points easily on a real-time basis Maintain view reward points easily on a real-time basis
Users can check account balance on a real-time basis
Users can redeem points at any given point
Users can access account statement & reports in the
application application
BOARD OF DIRECTORS
MR. SANJAY AGARWAL CHAIRMAN AND MANAGING DIRECTOR MANAGING DIRECTOR
MR. APOORV AGARWAL JOINT MANAGING DIRECTOR DIRECTOR
MR. GURJIT SINGH BAINS NON-EXECUTIVE DIRECTOR DIRECTOR
Mr. Agarwal is one of the co-founders of Sirca Paints India Limited, he has been working the Paints & Coatings industry for more than two decades. Under his able leadership, Sirca has risen the ranks
a bachelor's Mr. Agarwal has holds and a degree from Delhi University masters degree in Finance & Marketing from IIPM. He has a decade of experience & training in the Italian furnishing and
as one of the most prominent brands of as one of the most prominent brands of
Italian wood coatings space. He has Italian wood coatings space He has
luxury wood coatings in the country. A Chartered Accountant by qualification, the Mr. Agarwal currently looks after the finance and strategy functions of organization.
worked with prominent Italian furnishing brands Meroni,
like Simon Cenedese,
Laura and many
Reflex,
Italia,
B&B
others. At Sirca Paints India, he looks after the Sales and Marketing functions. He has also been bestowed with the establishing Sirca's responsibilities of distribution its presence network across the country.
through
Mr. Gurjit Singh Bains is one of the co- founders of Sirca Paints India, he has more than two decades of experience in wood coatings and the Italian furniture industry. He was introducers & promoter introducers & promoter
early of branded of branded
among
the
Italian furniture in India.
Mr. Guido Scappini
NON-EXECUTIVE NON-EXECUTIVE DIRECTOR (SIRCA SpA Italy)
is the Global Business Mr. Guido Scappini Director at Sirca s.p.a. in charge of the whole Wood Coating, Metal Coating and Composites
business. Formerly a management consultant at business Formerly a management consultant at one of the leading global firms, he then moved an Italian into an Executive position at manufacturers of wood coating.
BOARD OF DIRECTORS
Mr. Shyam Lal Goyal
NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mrs. Anu Chauhan NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mr. Sanjay Kapoor NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mr. Aman Arora NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mr. Goyal w a s the Audit and Finance Advisor at Gha za nfar Bank. He leads e a c h firm’s lines of business - Banking in an and F M C G industries S e c t o r expeditious holds manner. expeditious holds manner exp eri e nc e of over 30 years and has held various senior positions in India and abroad. His experi ence in global financial Co rpo ra te operations, G o v e r n a n c e , Enterprise-w i de systems, and Financing is a pro v en asset.
He He
of
re c o rd
running
a d e c a d e
in m a n a g e m e n t
Mrs. C ha u h a n has a va st e xper i e n ce of and over t e a m leadership skills. S h e has a proven tra ck successful operatio ns and nurturing & growing and nurturing & growing operatio ns businesses. Her c o r e a rea of expertise business ma nagement, incl udes supervising directi ng teams, processes, multi- disciplinary business documentation, checks, and management.
Control vendor
planning,
- and
audits,
Mr. Kapoor is a d o c t o r by profession, he has an M B B S a nd DCH (Diploma of Child of years over Health) experience pediatrics in d departm ent. He w a s a p p o i nted on t the bo a rd of the c o m p a n y in 2017.
with
t H
t d
the
20
i
is
of
auditing,
experience,
Mr. Arora, a C h a r t e r e d A c c o u n t a n t with a over 10 yea rs pa rt n er at Popli & Associates. He excels tax in financial planning financial planning, His a c c u r a c y optimize experti se financial p ro c e ss e s and make informed business decisions.
ensuring ensuring and helps
co m pl i a nce. clients
a cco unti ng ,
clients clients'
and
5 5Y FINANCIAL SUMMARY
C
5Y FINA NCI A L SUM M A RY
5Y PROFIT & LOSS SUMMARY
PARTICULARS
Revenue from Operations
Total Income
Total Operating Expenses
EBITDA (Excluding OI)
EBITDA (Excluding OI) %
Interest Cost
Depreciation & Ammortisation
Profit Before Taxes P
fi B f
T
Profit After Taxes
Note:
FY25
374.00
379.16
306.55
67.45
18.03
0.17
6.95
65.48
49.10
( ₹ i n c ro re s) ( ₹ i )
FY24
FY23
FY22
FY21
311.72
267.75
200.02
143.18
318.08
272.59
204.43
157.32
243.04
206.03
162.27
121.37
68.68
61.71
37.76
21.81
23%
18.90%
15.20%
22%
0.02
5.95
0.04
4.41
0.08
4.13
69.06
62.11
37.95
51.43
46.11
27.73
0.01
3.65
22.58
16.61
1. FY21 EBITDA (Excluding OI) & Total Operating Expenses adjusted for n e t - loss of fire incident
5Y FINA NCI A L SUM M A RY
5Y BALANCE SHEET SUMMARY
PARTICULARS
Shareholders Fund
Non Current Liabilities
Current Liabilities
Trade Payables
y
Total
Non Current Assets
Current Assets Current Assets
Inventories
Trade Receivables
Total
FY25
FY24
FY23
FY22
FY21
( ₹ i n c ro re s)
3 9 65 349.65
308 308.72
65 53 265.53
5 5 225.15
42.73
58.32
38.74 38.74
0.6
41.61
32.54 32.54
450.70
350.93
172.12
278.58 278.58
108.02
93.30
450.70 450 70
68.11
282.83 282 83
95.34
65.54
350.93 350 93
0.59
45.92
36.55 36.55
312.04
63.17
248.87 248 87
100.36
51.36
312.04 312 04
0.05
37.16
31.4 31.4
262.37
57.47
204.9 204 9
69.69
45.63
262.37 262 37
254.75 254 75
0 6 201.6
0.28
52.88
34.84 34.84
254.75
45.89
208.86 208 86
64.95
43.05
5Y FINA NCI A L SUM M A RY
5Y CASH FLOW SUMMARY
( ₹ i n c ro re s)
PARTICULARS
FY25
FY24
FY23
FY22
FY21
Cash from Operating Activities
54.26
42.00
- 18.69
35.16
19.24
Cash from Investing Activities
-45.32
-21.41
9.38
-11.06
14.74
Cash from Financing Activities
Net Cash Flow
Net Cash at Beginning of Year N C h
f Y
B
i
i
Net Cash at End of Year
-8.39 8 39
-8.24 8 24
-5.52 5 52
-17.38 17 38
0.1 0 1
0.55
12.35
-14.83
6.72
33.87
42.69
30.35
45.18
38.46
4.59
43.24
42.69
30.35
45.18
38.46
Q4 FY25 RESULT DISCUSSION
Q 4FY2 5 RESULT D ISCU SSIO N
"STRONG PERFORMANCE IN A HIGHLY COMPETITIVE ENVIRONMENT."
101.10
82.63
18.97
16.24
(All Values in ₹ crores)
12.51
14.15
Q4FY24
Q4FY25
Q4FY24
Q4FY25
Q4FY24
Q4FY25
Revenue from Operations
EBITDA
PAT
Q 4FY2 5 RESULT D ISCU SSIO N
PROFIT & LOSS SUMMARY Sta n da lo n e
PARTICULARS
Q4 FY25
Q3 FY25
Q4 FY24
YoY %
Revenue from Operations
Total Income
Total Operating Expenses
EBIDTA (Excluding OI)
EBIDTA (Excluding OI) %
Interest Cost
Depreciation & Ammortisation
Profit Before Taxes
Profit After Taxes
Earnings Per Share (₹)
101.11
102.11
82.13
18.97
18.77
0.16
1.77
18.05
14.16
2.58
88.71
90.61
73.27
15.44
17.41
0.01
1.80
15.54
11.46
2.09
82.63
84.72
66.39
16.25
19.66
0.00
1.55
16.79
12.51
2.28
22.4%
20.5%
23.7%
16.8%
- 4.6%
-
14.2%
7.5%
13.1%
13.2%
( ₹ i n c ro re s)
QoQ %
14.00%
12.7%
12.1%
22.9%
7 . 8 %
-
-1.7%
16.2%
23.6
23.4
Q 4FY25 RESULT D ISCU SSIO N
MANAGEMENT COMMENTARY MANAGEMENT COMMENTARY Revenue from Operations:
•Increased to INR 101.10 Cr in the current quarter from INR 82.63 Cr (Q4 FY24)
•A growth of 22.4%.
•Growth driven by better product mix with a focus on high-value product sales.
EBITDA: EBITDA:
•Increased from INR 16.25 Cr (Q4 FY24) to INR 18.97 Cr in the current quarter.
•Growth of 16.8%.
•EBITDA margin declined from 19 66% (same quarter last year) to 18 77 % in the current •EBITDA margin declined from 19.66% (same quarter last year) to 18.77 % in the current quarter. Margin decline due to increased competition leading to higher schemes and discounts.
PAT (Profit After Tax):
•Increased from INR 12.51 Cr (Q4 FY24) to INR 14.16 Cr in the current quarter. 2 )
C (Q
6 C
d f
2
h
•Growth of 13.11%.
Q 4FY25 RESULT D ISCU SSIO N
Q4 Highlights Q4 Highlights
•
Completed acquisition of “Wembley” brand, a reputed name in the economical decorative product segment, including Sanding Sealer, TT Clear, and others and there has been a smooth transition too.
• Expanded dealer network in Tier 2/3 cities, with increased market penetration in key
states like Madhya Pradesh and Chhattisgarh.
• Strengthened retail footprint in South India, with a new dedicated team driving g
,
g
p focused regional growth.
• Successfully executed Architect Meet in the Maldives, engaging 100+ leading architects from across India, enhancing brand recall and loyalty among key influencers. influencers.
Q 4FY25 RESULT D ISCU SSIO N
Q1FY26 Outlook
•Tier 2/3 Market Penetration: Continued push in markets like MP, Chhattisgarh, and Northeast, South India through localized marketing and dealer activations.
•New OEM Tie-Ups: Expanding presence in modular furniture and door manufacturing ecosystem with new B2B partners.
•Launch of New Product Range under “Wembley” Brand: Targeting the complete value segment in paints and coatings to expand market share and address industrial demand.
p
p
g
g
•Strategic Integration of Wembley Portfolio: Strengthening nationwide distribution with focused dealer on boarding and channel expansion.
•New capex planned for streamlining Wembley production to increase the capacity and reduce the turnaround time.
•Strengthening Architect & Influencer Engagement: With the new marketing team coming on board “one digital” specialized in architect and interior fraternity we plan to deepen design community outreach. Also increase our social and offline brand awareness via both offline and online marketing campaigns.
•Our Foray into ultra premium wall paint segment is in very advanced stage for launching products in India post completion of trials after absorption of technical know how from Oikos Italy.
•With the fall in crude prices, we expect some softening of raw material prices.
•We expect an increase in demand after IMD forecast of normal monsoons in India coupled with RBI policies of enhancing liquidity into the system and government thrust on increase in consumption by its favorable fiscal policies.
CONNECT US
Hira Kumar COMPANY SECRETARY AND COMPLIANCE OFFICER S i r c a Paints India Limited c s @ s i r c a p a i n t s . c o m