Sirca Paints Q3 FY26: Revenue up 26%, PAT up 31%

Why Sirca Paints’ Q3 FY26 numbers matter

Sirca Paints India Ltd has reported its earnings for the third quarter and nine months ended December 31, 2025, and the board has approved the unaudited standalone and consolidated results along with a limited review report from the statutory auditor. The update is relevant for investors tracking demand conditions in decorative paints and wood coatings, especially after a quarter where management has previously flagged weather and seasonality-led disruptions.

For Q3 FY26, the company reported revenue of ₹114.18 crore compared with ₹90.55 crore a year ago. Net income for the quarter came in at ₹15.03 crore versus ₹11.46 crore in the corresponding period last year. Basic and diluted EPS from continuing operations stood at ₹2.69, up from ₹2.09.

Q3 FY26 financial performance at a glance

In the company’s reported earnings, Q3 FY26 sales were ₹112.79 crore compared with ₹88.65 crore a year earlier. Revenue for the quarter was ₹114.18 crore versus ₹90.55 crore last year, indicating a year-on-year increase of about 26%.

Net income rose to ₹15.03 crore from ₹11.46 crore, an increase of about 31%. EPS increased to ₹2.69 from ₹2.09. These figures align with the quarterly financial snapshot that shows Total Income of ₹114.18 crore for the December 2025 quarter.

Nine-month (9M FY26) performance: revenue and profit growth

For the nine months ended December 31, 2025, Sirca Paints reported sales of ₹358.19 crore compared with ₹272.75 crore a year ago. Revenue for the period was ₹360.84 crore, up from ₹276.92 crore in the year-ago period.

Net income for the nine months was ₹47.34 crore versus ₹34.95 crore last year. Basic and diluted EPS for the nine-month period stood at ₹8.47 compared with ₹6.38.

Quarterly trend: income and EPS over the last five quarters

Quarterly disclosures show Total Income moving between ₹90.61 crore and ₹132.21 crore over the last five reported quarters. Total Income was ₹90.61 crore in Dec 2024, ₹102.11 crore in Mar 2025, ₹114.45 crore in Jun 2025, ₹132.21 crore in Sep 2025, and ₹114.18 crore in Dec 2025.

EPS followed a similar pattern. EPS was ₹2.09 in Dec 2024, ₹2.57 in Mar 2025, ₹2.59 in Jun 2025, ₹3.24 in Sep 2025, and ₹2.69 in Dec 2025.

Expenses snapshot and what it signals

Sirca Paints’ quarterly data also lists Total Expenses of ₹92.50 crore for Dec 2025, compared with ₹106.39 crore in Sep 2025, ₹94.16 crore in Jun 2025, ₹83.90 crore in Mar 2025, and ₹75.07 crore in Dec 2024. With Total Income at ₹114.18 crore in Dec 2025, the expenses line provides a simple view of how operating costs moved alongside revenue.

The same dataset shows Total Income Growth (%) figures for recent quarters: -13.64% (Dec 2025), 15.52% (Sep 2025), 12.09% (Jun 2025), 12.68% (Mar 2025), and -14.79% (Dec 2024). These are quarter-to-quarter growth rates as presented.

Q2 FY26 context: management commentary and margins

In the earlier Q2 FY26 update, the company reported revenue of ₹131.17 crore, up 24.37% from ₹105.46 crore in Q2 FY25. EBITDA for the quarter rose to ₹27.40 crore from ₹18.96 crore, while profit after tax increased to ₹18.10 crore from ₹13.28 crore.

Chairman and Managing Director Sanjay Agarwal said the company remained focused on product innovation and market expansion, even as extended monsoons and an early festive season temporarily affected retail demand and project execution.

Preferential issue and cash flow details disclosed earlier

A structured summary of the November 2025 filing also noted that ₹75.29 crore was raised through a preferential equity issue in Q2 FY26 at ₹379.50 per share. The same summary highlighted net cash from operating activities of ₹9.11 crore and net cash used in investing activities of -₹54.81 crore (as per the cash flow figures presented).

The auditor’s review for the Q2 FY26 and H1 FY26 results, conducted by M/s Rajesh Kukreja & Associates, Chartered Accountants, was described as having no qualifications, concerns, or issues noted.

Corporate actions and key filings around the results

Sirca Paints notified the exchange that a board meeting was scheduled on January 31, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. The board meeting outcome for the financial results for the quarter and nine months ended December 31, 2025 was posted on January 31, 2026.

The company also published newspaper advertisements for its financial results for the quarter ended September 30, 2025 in English and Hindi newspapers on November 11, 2025, citing compliance with Regulation 47 of SEBI (LODR) Regulations, 2015.

Guidance to 2030: the stated revenue target

The company has issued earnings guidance for the year 2030, indicating it is targeting revenue of ₹1,000 crore (INR 10,000 million) by that year. While guidance is not a forecast of near-term results, it provides a reference point for how management frames its longer-term scale ambitions.

An update shared on January 26, 2026 also noted analysts kept their fair value estimate steady at ₹625.0 per share, with small parameter tweaks around discount rate, revenue growth, profit margin and future P/E assumptions.

Market snapshot and upcoming events calendar

The stock was listed at ₹478.70 in a market snapshot dated December 17, 2025, showing a 5-day change of -0.58% and a 1st Jan change of +39.38%.

The company’s events calendar includes projected earnings releases on January 23, 2026 (Q3 2026), May 21, 2026 (Q4 2026), July 24, 2026 (Q1 2027), and November 6, 2026 (Q2 2027).

Key numbers table

What to watch next

Investors will track how the company’s quarterly revenue trend evolves after the September quarter peak Total Income of ₹132.21 crore, and how expenses move relative to income in subsequent quarters. The scheduled earnings release dates provide defined milestones for fresh disclosures.

Sirca Paints’ Q3 FY26 results show year-on-year growth in revenue and net income, while the longer-term 2030 revenue target sets a measurable ambition for scale. The next updates are expected around the projected earnings release timeline and any further board communications filed with the exchanges.