Sirca Paints India Limited has informed the Exchange about Investor Presentation
November 10, 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/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015, please find enclosed herewith Earnings Presentation of Q2 & FY26 of the Company.
This is for your information and records
Thanking you,
Yours truly,
For Sirca Paints India Limited
Hira Kumar Company Secretary & Compliance Officer
Encl: As above
Q2 FY 26 EARNINGS PRESENTATION
COMPANY PROFILE
AN INTRO
Sirca Paints India Limited (SPIL) is a leading manufacturer & Importer 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.
85+
COUNTRIES
€180+ Mn
TURNOVER
800+
EMPLOYEES
2
PRODUCTION PLANT
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 in collaboration with are developed Italy’s top furniture brands.
5
Manufacturing facilities
OEM VENDOR
800+
Team Strength
20+
Branches and Depots
900+
OEM’s Clientele
Preferred OEM Vendor on its way to become a Dominating Retail Brand
Among the Top 3 Premium wood coatings brand in India Market Leader in North India
MARKET LEADER
SOLE & EXCLUSIVE LICENSEE
Of Globally Established ‘Sirca’ brand for India.
VALUE PROPOSITION
The promise and quality of ‘Made in Italy’ blended innovation, research and development to with provide the most sophisticated and customized products and services in the paints industry.
Premium Italian Wood coatings
Glass Coatings
Metal Coatings
VALUE PROPOSITION
Recent Additions to our Product Portfolio Expansion
WEMBLEY RANGE
WOOD COATINGS
Mass Market Range Nitrocellulose (NC), Melamine, PU Coatings and Thinners
WALL TEXTURES & OTHERS
OIKOS Portfolio (Super luxury high-end wall textures)
BRAND PORTFOLIO
Recent Additions to our Product Portfolio Expansion
Sirca Luxury High-end Italian Wood Coatings.
Unico Mass-market Wood Coatings products
WEMBLEY (Newly Acquired) Enamels, Nc, Wall paints Sanding Sealer, TT Clear, Lacquer etc.
OIKOS
Super Luxury High-end Wall Textures
WELCOME
Paint Thinners & Reducers
MOHALI
LUDHIANA
KARNAL
NATHUPUR PU UNIT, WP UNIT, UNIT-3
DELHI
GURUGRAM
JAIPUR
INDORE
NAGPUR AHMEDABAD
SURAT
MUMBAI
KERALA
JAGADHARI
JAMMU AND KASHMIR
RUDRAPUR
NOIDA WEMBLEY (TIKRI)
BAHADURGARH
AMBALA
NEPAL
SILIGURI
DEHRADUN
MORADABAD
GUWAHATI
BANGLADESH
KOLKATA
RAIPUR
KANPUR
HYDERABAD
CHENNAI
SRI LANKA
KEY
Sirca Studios
Branches
Manufacturing Outlets
Export Markets
NATIONWIDE PRESENCE, TRUSTED EXCELLENCE
At Sirca, we take pride in delivering world-class wood coatings and finishes across every corner of India. Our widespread network ensures that premium quality, reliability are innovation, and always within reach—whether in bustling metros or the emerging towns.
With a presence that spans the nation, Sirca stands as a symbol of consistency, trust, and excellence in wood care solutions.
CUSTOMER SEGMENTS
RETAIL
OEM’s
4000+
Growth Strategy
Chain of studios being opened across India, currently 20+branches are operational.
Creating a wider and diverse product portfolio expanding & strengthening the distribution network.
70% Revenue
Contribution
Chain of studios being opened across India, currently 20+ branches are operational.
900+
OEM’s Clientele
APPROACH Dealing in Premium products.
Providing strong technical support and after sales services to OEM’s.
30% Revenue
Contribution
Key Clientele includes: Godrej, Jindal Stainless, Indoline, Space Wood, Pyramid, MAS Furniture, Alsorg, Soundarya Decorators, etc.
MARKETING AND PROMOTIONAL ACTIVITIES
~1400+ Refreshed brand positioning as “Your Italian Autograph”.
Shop boards installed, resulting in enhanced visibility.
AN ITALIAN AUTROGRAPH
SIRCA - EVENTS AND AWARDS
industry and
“Sirca actively invests in high-impact that bring initiatives engagement professionals, together Our partners, participation Exhibition, Architect Meets & Contractor Meets, these platforms help trust, showcase innovation, and strengthen relationships across our ecosystem.”
influencers. IDAC
foster
in
SIRCA - DIGITAL IMPRESSIONS
“Sirca’s digital footprint continues to grow through strategic features in leading design publications and platforms. Our projects with renowned architects have been showcased in Livingetc & Elle Decor and other top-tier outlets — amplifying visibility among designers, specifiers, and premium homeowners.”
STRATEGIC EXPANSION: ACQUISITION OF WEMBLEY
Sirca Paints India Ltd. Acquires "Wembley" Brand, Expanding Platform and Its Product Portfolio
New Delhi, 21-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.
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)
ENHANCED VERSION OF SIRCA PARIVAAR PRO APP
Key Features
25000+
Contractors Registered
20,000+
Average Daily Product Scans
5000+
Average Daily Users
Specifically designed for architects, contractors, and dealers using Sirca products
Automate Sirca loyalty program
Bringing all industry stakeholders together on the application
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
OUR BOARD OF DIRECTORS
MR. SANJAY AGARWAL
CHAIRMAN & MANAGING 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 as one of the most prominent brands of luxury wood coatings in the country. A Chartered Accountant by qualification, Mr. Agarwal currently looks after the finance and strategy functions of the organization.
MR. GURJIT SINGH BAINS
NON-EXECUTIVE DIRECTOR
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 among the early introducers & promoter of branded Italian furniture in India like B&B Italia, Reflex, Laura Meroni, Simon Cenedese, and many other Italian brands.
MR. APOORV AGARWAL
JOINT MANAGING DIRECTOR
Degree from Delhi University and a masters degree in Finance & Marketing from IIPM. He has a decade of experience & training in the Italian furnishing and Italian wood coatings space. He has worked with prominent Italian furnishing brands like B&B Italia, Reflex, Laura Meroni, Simon Cenedese, and many others. At Sirca Paints India, he looks after the Sales and Marketing functions. He has also been bestowed with the responsibilities of establishing Sirca's presence through its distribution network across the country.
MR. GUIDO SCAPPINI
NON-EXECUTIVE DIRECTOR
Mr. Guido Scappini is the Global Business Director at Sirca s.p.a. in charge of the whole Wood Coating, Metal Coating and Composites business. Formerly a management consultant at one of the leading global firms, he then moved into an Executive position at an Italian manufacturers of wood coating.
OUR BOARD OF DIRECTORS
MR. SHYAM LAL GOYAL
NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mr. Goyal was the Audit and Finance Advisor at Ghazanfar Bank. He leads each firm’s lines of business - Banking Sector and FMCG industries in an expeditious manner. He holds experience of over 30 years and has held various senior positions in India and abroad. His experience in global financial operations, Corporate Governance, Enterprise-wide systems, and Financing is a proven asset.
MR. SANJAY KAPOOR
NON-EXECUTIVE & INDEPENDENT DIRECTOR
M r . K a p o o r i s a d o c t o r b y p r o f e s s i o n , h e h a s a n M B B S a n d D C H ( D i p l o m a o f C h i l d H e a l t h ) w i t h o v e r 2 0 y e a r s o f e x p e r i e n c e i n t h e p e d i a t r i c s d e p a r tm e n t . H e w a s a p p o i n t e d o n t h e b o a r d o f t h e c o m p a n y i n 2 0 1 7 .
MRS. ANU CHAUHAN
NON-EXECUTIVE & INDEPENDENT DIRECTOR
MR. AMAN ARORA
NON-EXECUTIVE & INDEPENDENT DIRECTOR
Mrs. Chauhan has a vast experience of over a decade in management and team leadership skills. She has a proven track record of running successful operations and nurturing & growing businesses. Her core area of expertise includes - business management, directing and planning, supervising multi- disciplinary teams and processes.
Mr. Arora, a Chartered Accountant with over 10 years of experience, is a partner at Popli & Associates. He excels in auditing, accounting, and tax planning, ensuring clients' financial accuracy and compliance. His expertise helps clients optimize financial processes and make informed business decisions.
Q2 FY26 RESULT DISCUSSION
Q2 FY26 RESULT DISCUSSION
"STRONG PERFORMANCE IN A HIGHLY COMPETITIVE ENVIRONMENT."
131.17
24.37%
105.46
27.40
44.52%
18.96
18.10
36.30%
13.28
Q2FY25
Q2FY26
Q2FY25
Q2FY26
Q2FY25
Q2FY26
The company delivered a robust Q2FY26 performance, with Revenue up 24.37% to ₹131.17 crore. EBITDA rose 44.52% to ₹27.40 crore, reflecting stronger efficiency, while PAT grew 36.30% to ₹18.10 crore. These results underline sustained growth and resilience in a competitive market.
F I N A N CI A L S U M M A R Y
PROFIT & LOSS SUMMARY
( ₹ in crores )
Particulars
Q2 FY26
Q1 FY26
Q2 FY25
YOY%
QOQ%
Revenue from Operations
Total Income
131.17
132.21
Total Operating Exp
103.77
EBITDA (Excl. OI)
EBITDA (Excl. OI) %
Interest Cost
Dep & Amortisation
PBT
PAT
EPS
27.40
20.89
1.36
2.62
24.47
18.10
3.24
114.24
114.45
91.68
22.56
19.74
1.10
2.48
19.19
14.21
2.59
105.46
24.37%
14.82%
106.31
86.51
18.96
17.98
0.01
1.82
17.97
13.28
2.42
24.37%
19.96%
44.52%
16.19%
13500%
43.96%
36.17%
36.30%
33.88%
15.52%
13.19%
21.45%
5.83%
23.64%
5.65%
27.51%
27.38%
25.10%
Q 2 FY2 6 R E S U L T D I S CU S S I O N
MANAGEMENT COMMENTARY
Revenue from Operations:
• Increased to INR 131.17 Cr in the current quarter
from INR 105.46Cr in Q2 FY25.
• A growth of 24.37%.
• Growth driven by better product mix with a
focus on high-value product sales.
EBITDA:
• Increased from INR 18.96 Cr (Q2 FY25) to INR
27.40 Cr in the current quarter.
• Growth of 44.52 %.
• EBITDA margin improved to 20.89 % from
17.98% corresponding quarter last year FY25.
PAT (Profit After Tax):
• Increased to INR 18.10 Cr in the current quarter from INR 13.28 Cr in the corresponding quarter last year FY25.
• Growth of 36.30%.
Q2FY26 OUTLOOK & WAY FORWARD
As we progressed through the second quarter of FY26, Sirca Paints India Limited remained focused on strategic product innovation and market expansion amid a challenging and competitive market environment. The quarter was characterized by extended monsoons , implementation of GST reforms and an early festive season, which temporarily impacted retail demand and project execution. Despite these short-term challenges , Sirca continued to strengthen its strategic foundations across product, operations, and market channels.
Product Innovation and Portfolio Expansion
The company announced the launch of a new range of products under the ‘Wembley’ brand, designed to deliver premium performance and aesthetic excellence for the Indian furniture and interior segment. The range, launched under the ‘Valentino’ sub-brand, has started gaining traction across existing distributor networks, reinforcing Sirca’s commitment to building a comprehensive product portfolio that serves both premium and mass-premium categories.
In addition, Sirca’s focus on high-value PU ,metallic and acrylic finishes remains core to its brand differentiation strategy. Furthermore company continues to produce top 10 PU products in India under the technical know how transfer from Sirca Italy. The company continues to curate presentations and collaborations with architects and interior designers to strengthen recall, specification, and advocacy within the professional design community.
Q2FY26 OUTLOOK & WAY FORWARD
Operational Integration and Capacity Expansion
To enhance efficiency and scalability, Sirca undertook a strategic capex initiative to integrate the three manufacturing units of the Wembley brand into a single consolidated production facility. This integration is expected to drive economies of scale, streamline supply chain operations, and optimize COGS.
The new facility, currently under commissioning, is expected to become operational around (Q4 FY26). Once commissioned, it will mark a major milestone in improving manufacturing productivity, margin profile, and operational agility across both the “Welcome” and “Wembley” product lines
R&D and Product Advancement
While the market environment remains dynamic, Sirca Paints is well- positioned to capture growth in high-potential segments such as acrylic- based and waterborne PU systems — categories where innovation, sustainability, and performance are becoming key differentiators
. The company’s continuous R&D investments are focused on enhancing product durability, regulatory compliance, and user-friendliness, ensuring Sirca stays at the forefront of evolving consumer and industry expectations.
Q2FY26 OUTLOOK & WAY FORWARD
Market Recovery and Demand Outlook
Some green shoots are now visible, particularly across urban markets and organized manufacturing sectors. This improving sentiment, supported by Sirca’s differentiated product offerings, is expected to translate into renewed growth momentum in the coming quarters
Furthermore, with India’s furniture manufacturing sector poised for robust expansion—driven by rising domestic consumption and increasing global outsourcing—the company anticipates a significant uptick in PU and acrylic coating demand across organized and semi-organized segments. . Brand Engagement and Market Expansion
Sirca continues to strengthen its engagement with the architectural and interior design fraternity, a key influence group for premium coatings. The company’s facilitation of top 30 industry designers in ARTH Dubai has bolstered brand visibility and credibility.
At the same time, geographic and retail expansion in Western and Southern India remains a key strategic focus, with ongoing investments in distribution depth and retail partnerships to capture emerging growth pockets. .
CONNECT WITH US
Hira Kumar COMPANY SECRETARY AND COMPLIANCE OFFICER Sirca Paints India Limited c s @ s i r c a p a i n t s . c o m