Sirca Paints Q1 FY27: Growth Holds Up as Margins Feel the Price Correction

Revenue from operations was 130.01 crore, EBITDA (excluding other income) was 24.21 crore, and PAT was 16.21 crore.

PAT rose 14.07% YoY to 16.21 crore, while EBITDA margin declined to 18.62% from 19.90% in Q1 FY26 due to price correction and discounting.

Management cited geopolitical disruptions, Red Sea freight issues, EUR-INR volatility, elevated landed import costs, and intermittent availability of key raw materials like resins and solvents.

The company stated formula transfer for acrylic and polyester systems was completed and commercial production started in Q1 FY27, with selected UV systems stated to be on track.

Management stated the dedicated Wembley manufacturing facility is fully operational and consolidates multiple production lines, intended to improve efficiency, quality consistency, supply-chain agility and cost economics.

Management stated near-term demand is expected to remain moderate, expects margin recovery as localisation and premium mix scale, and targets double-digit revenue growth with EBITDA.

Yes. The presentation states exports are to be initiated under the Wembley Valentine brand, led by polyurethane-based coatings, with shipments expected to commence gradually over coming quarters in select markets.