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Sirca Paints reported Q4 revenue at INR101.1 Cr, up 22.4% YoY, led by a better product mix and focus on premium offerings. EBITDA rose 16.8% to INR18.97 Cr with margins at 18.77%, slightly down due to higher schemes. PAT grew 13.1% to INR14.16 Cr. Full-year revenue reached INR374 Cr (+20%), while EBITDA and PAT slipped slightly.
The Wembley acquisition broadens the portfolio, expected to grow 25% by FY26. Guidance for FY26 includes 25%-30% revenue growth, EBITDA margins of 18%-20%, and volume growth of 38%-40%, driven by lower-priced products.
Focus remains on premium wood coatings (85% revenue) and geographic expansion across central and southern India. Crude oil price softness supports margin recovery, while about 40% of raw materials are crude-linked. Management plans local production of Italian products to mitigate currency impact. Wembley and Welcoat brands target over 50% combined growth. The outlook is confident with sustained long-term growth expected.