Hot Chips - Stock Recommendations For Your Portfolio
2/7/2013 9:00 PM Thursday
SHALIMAR PAINTS | BSE CODE: 509874 | Volume: 19000 | CMP: INR 128
Shalimar Paints is the third largest player in the high performance coatings, apart from having a significant presence in packaging coatings. It derives 65 per cent of its revenues from decorative paints and the balance of 35 per cent from industrial paints. Its targets are primarily the mid-tier markets from where it derives around 80 per cent of its revenues.
On the financial front, the company has posted healthy results for Q3FY13. During Q3FY13, its sales grew by 14.4 per cent on a YoY basis to Rs 143.2 crore. But the bottomline jumped by 23.7 per cent on a YoY basis to Rs 4.7 crore. To cater to the South Indian markets, it is in the midst of setting up a new plant in Chennai, with an installed capacity of 18,000 tpa. It has established a strong distribution network comprising of 54 branches/depots that service more than 7000 dealers with a strong presence in rural markets. One can look at the scrip for medium-term perspective.
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