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About Sirca Paints India

Sirca Paints India specializes in the production of coatings for wood.

Sirca Paints India Headquarters Location

Plot No-50, Badli Industrial Area Phase-2, Near Tata Power Office

Delhi, 110042,



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Latest Sirca Paints India News

Sirca Paints India : Transcript of Analysts/Institutional Investor Meet/Con. Call

Jun 5, 2022

Call 06/05/2022 | 12:52am EDT Message : LISTING DEPARTMENT NATIONAL STOCK EXCHANGE OF INDIA LIMITED EXCHANGE PLAZA, 5TH FLOOR, PLOT NO. C/1 G-BLOCK,BANDRA-KURLA COMPLEX, BANDRA (E) MUMBAI-400051 SUB: TRANSCRIPT OF EARNINGS CALL FOR THE QUARTER AND FINANCIAL YEAR ENDED MARCH 31, 2022 SYMBOL- SIRCA Dear Sir/Ma'am, This is to inform you that in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Conference Call held on May 30, 2022, post the announcement of the financial results of the Company for the quarter and year ended March 31, 2022, has been uploaded on our Company's website: Q4FY22.pdf A copy of the transcript is also enclosed. This is for your information and records. Thanks & Regards, Suraj Singh 4(*(,1<1*:&=():+2+>(*:-& 4)?&B>//)F&B,()C(3&D&G/+*:&4(*(,+*,&E+)12:/)& 4-?&@;(33H&B)/)(&D&. ;+10&#+*(*2+(3&I00+21)& 4)?&@H)(A&@+*,;&D&./<>(*6&@12)1:()6&(*5&./<>3+(*21&I00+21)& & Page 1 of 11 Moderator:Ladies and gentlemen good day and welcome to Sirca Paints India Limited Q4 FY22 earnings conference call hosted by TIL Advisors. As a reminder all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call please signal an operator by pressing '*' then '0' on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sayam Pokharna from TIL Advisors. Thank you and over to you sir. Sayam Pokharna: Thank you Peter. Welcome everyone and thanks for joining the Q4 and FY22 earnings call of Sirca Paints India Limited. The investor updates have already been e-mailed to you and are also available on the website of the stock exchange and To take us through today's results and management today we have with us Mr. Sanjay Agarwal - Chairman and Managing Director, Mr. Apoorv Agarwal - Joint Managing Director, Mrs. Shallu Arora - Chief Financial Officer, Mr. Suraj Singh - Company and Compliance Officer. We will be starting with a brief overview of Q4 and FY22 performance followed by a Q&A. I want to remind you all that everything said on this call that represents any outlook for the future that can be construed as a forward-looking statement must be viewed in conjunction with the risks and uncertainties that we face. Some of these risks and uncertainties have been mentioned in our prospectus and follow-up annual reports. I would now like to handover the call to Mr. Apoorv Agarwal. Over to you sir. Apoorv Agarwal: Thank you Sayam. Good afternoon, everyone, and thanks for joining our earning call for Q4 and FY22. It is my absolute pleasure to be taking all of you this afternoon I would like to begin by expressing my gratitude to my team. Moderator:Ladies and gentlemen unfortunately we've lost the connection for Mr. Apoorv Agarwal. Please stay connected. Ladies and gentlemen, we've got the line for Mr. Apoorv Agarwal connected again. Sir you can proceed. Apoorv Agarwal: Thank you. I would like to begin by expressing my gratitude to my team, the investors and everyone associated with Sirca Paints India Limited for your continued faith and trust in us. I would like to quickly take you all through the performance of this quarter and the full year post which we can open the floor for questions. I am pleased to present that we have reported another robust quarter despite some disturbance faced in the month of January 2022 especially in the Northern part of India due to partial lockdowns in the NCR region. This coupled with a temporary ban on spray paintings in NCR during the winter season that had an impact on our December 2021 sales as well which affected our performance to an extending Q3 FY22. Our Q4 sales at 54.10 crores grew by 13.7% year-on-year and were flattish quarter-on-quarter with a marginal increase of 1.7%. EBITDA Page 2 of 11 margins for Q4 witnessed some compression which was majorly due to some additional year end dealer compensations coupled with marginally higher employment benefit expenses due to some new hiring's that we have done at new branches and studios and a slight reduction in the gross margins due to turbulence in the raw material market. I would like to mention that despite the inflationary environment, we are present in the…. currently your company has been able to preserve its profitability. We would continue to do our best to keep our margins intact. If we look at the annual top line for FY22, our business has clearly changed its trajectory. We have reported our highest ever annual sales at 200 crores. This is a significant growth of about 40% over the previous year's 143.18 crores. The company has also come back strong on the profitability front in FY22 with the EBITDA margins of 18.9% during FY22 compared to 15.2% in the previous year. PAT for the year also stood at 27.73 crores, up by 67% year-on- year. Now I would like to share some operational highlights and developments. Firstly, we are pleased to announce that the company is adding a resin manufacturing line at its existing Sonipat facility in the same premises where our Unico products are manufactured. As you all know resins are the key starting raw material for wood coating industry. It is the single biggest sector affecting the quality at our end product. Of late we are noticing some inconsistencies in the quality of resins available locally thus as a strategic move the company decided to manufacture all these key resins in-house. These resins will be used to manufacture our Unico range of products, all the product kitty from NC melamine and the mass market of Indian PU. We also expect this project to contribute to better margins. The extent of the benefit will be known post commercialization of the project. Secondly, we have postponed our south Indian wood coatings facility by a couple of quarters. First, we would like to have a superior distribution and some aggressive marketing activities in our target market post which we will go ahead with the plan as communicated earlier. Till that time our Sonipat facility is going to cater to these markets. I am also pleased to report that in our efforts of optimizing debtor days, channel financing has been successfully introduced with couple of big distributors and dealers onboard initially, the company plans to add about 50 dealers and all its distributors in the coming few quarters. We have received good response from the dealers and the distributors we have on board so far. On the product portfolio side Unico has fared well during the last quarter, we expect Unico to increase its revenue contribution in the coming quarters and the financial years. We are also receiving an exceptional response on our wall-paint category which has performed well in the year gone by, including our premium category textures, finishes from San Marco. For Durante Vivan our plan is to launch these products in a couple of upcoming trade shows and exhibition. As communicated earlier our first priority move its the flagship product categories that is hot melt in our existing OEM channel. With this I would like to open the floor for that question. Thank you everyone. Page 3 of 11

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  • Where is Sirca Paints India's headquarters?

    Sirca Paints India's headquarters is located at Plot No-50, Badli Industrial Area, Delhi.

  • What is Sirca Paints India's latest funding round?

    Sirca Paints India's latest funding round is IPO.

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