506685

Ultramarine Pig. share price & financials

Price
₹370.05
Market cap
₹1.3k Cr
Sector
Chemicals

What Ultramarine Pig. does

Ultramarine & Pigments Limited manufactures inorganic pigments and surfactant/specialty chemicals at its plants in Ambattur and Ranipet, Tamil Nadu, and, through a subsidiary, at Naidupeta, Andhra Pradesh. It runs six wind turbine generators across three Tamil Nadu sites to supply captive power to its Ranipet and Ambattur plants, and separately operates an IT-enabled services division, Lapiz Digital Services, in Chennai.

Segments

  • Inorganic Pigments
  • Surfactants and Specialities
  • Wind Power / Green Energy
  • IT-enabled Services (ITeS)
Manufacturing plants
3 (Ambattur & Ranipet, Tamil Nadu; Naidupeta, Andhra Pradesh via subsidiary)
Wind turbine generators (captive power)
6 WTGs across 3 sites in Tamil Nadu, 4.3 MW capacity
Manufacturing division employees
450 (410 men, 40 women)
ITeS division employees
577 (313 men, 264 women)
Pigments capacity commissioned at subsidiary's Naidupeta plant
750 MT (part of a 1,500 MT expansion project)
Windmill electricity generated
57 lakh units (FY25)
Founded 1960Headquarters Mumbai, MaharashtraEmployees 1,027 (FY25) Company website

Quarterly results

Q1 FY27: revenue up 30.4%, net profit up 60.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue161 179 195 184 196 +22%196 +9%199 +2%240 +30%
EBITDA27 36 28 32 32 +19%34 −6%26 −7%45 +41%
Net profit19 23 17 20 19 +0%27 +17%14 −18%32 +60%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −9.8% 1Y

₹400₹450₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹470.8 on 10 Sept 2025 → ₹424.5. High ₹490.2 (15 Sept 2025), low ₹365.95 (18 Jun 2026).

Financials, as filed

Revenue grew 11.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 16.0%.

Year endingFY23FY24FY25FY26
Revenue₹558 Cr₹561 Cr₹696 Cr₹775 Cr
Operating profit₹104 Cr₹94 Cr₹117 Cr₹124 Cr
Operating margin18.6%16.8%16.8%16.0%
Interest₹5 Cr₹8 Cr₹8 Cr₹7 Cr
Depreciation₹16 Cr₹22 Cr₹25 Cr₹27 Cr
Net profit₹69 Cr₹58 Cr₹76 Cr₹80 Cr
Net margin12.4%10.3%10.9%10.3%
Cash from operations₹62 Cr₹78 Cr₹90 Cr₹128 Cr
Free cash flow₹1 Cr₹15 Cr₹37 Cr₹62 Cr
ROCE11.0%9.0%10.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹6 Cr₹6 Cr₹6 Cr₹6 Cr₹6 Cr₹6 Cr
Reserves₹455 Cr₹854 Cr₹730 Cr₹894 Cr₹1.1k Cr₹864 Cr
Borrowings₹38 Cr₹53 Cr₹75 Cr₹79 Cr₹89 Cr₹86 Cr
Other liabilities₹61 Cr₹82 Cr₹70 Cr₹97 Cr₹138 Cr₹138 Cr
Total liabilities₹561 Cr₹995 Cr₹881 Cr₹1.1k Cr₹1.3k Cr₹1.1k Cr
Fixed assets₹119 Cr₹152 Cr₹238 Cr₹281 Cr₹345 Cr₹373 Cr
Capital work in progress₹30 Cr₹69 Cr₹29 Cr₹30 Cr₹39 Cr₹30 Cr
Investments₹194 Cr₹551 Cr₹366 Cr₹492 Cr₹577 Cr₹376 Cr
Other assets₹218 Cr₹222 Cr₹248 Cr₹274 Cr₹329 Cr₹315 Cr
Total assets₹561 Cr₹995 Cr₹881 Cr₹1.1k Cr₹1.3k Cr₹1.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −0.62 pp while the public added +0.33 pp. The shareholder count shrank 2% to 18,494.

Promoters
40.5%
FIIs
1.4%
DIIs
0.6%
Public
57.5%

Since Jun 2025

  • DIIs −0.62 pp
  • Public +0.33 pp
  • FIIs +0.30 pp

How it drifted, 12 quarters

Over this window promoters fell from 41.7% to 40.5% — −1.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 41.7%, FIIs 0.8%, DIIs 0.8%, Public 56.7%.Dec '23: Promoters 41.1%, FIIs 0.8%, DIIs 0.8%, Public 57.3%.Mar '24: Promoters 41.0%, FIIs 1.2%, DIIs 0.2%, Public 57.5%.Jun '24: Promoters 41.0%, FIIs 1.3%, DIIs 0.3%, Public 57.3%.Sep '24: Promoters 40.9%, FIIs 1.2%, DIIs 0.3%, Public 57.6%.Dec '24: Promoters 40.9%, FIIs 1.2%, DIIs 0.6%, Public 57.3%.Mar '25: Promoters 40.6%, FIIs 1.1%, DIIs 0.9%, Public 57.3%.Jun '25: Promoters 40.5%, FIIs 1.1%, DIIs 1.3%, Public 57.1%.Sep '25: Promoters 40.5%, FIIs 1.1%, DIIs 1.3%, Public 57.1%.Dec '25: Promoters 40.5%, FIIs 1.0%, DIIs 1.4%, Public 57.1%.Mar '26: Promoters 40.5%, FIIs 1.2%, DIIs 0.7%, Public 57.6%.Jun '26: Promoters 40.5%, FIIs 1.4%, DIIs 0.6%, Public 57.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Ultramarine Pig. above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Thirumalai Chemicals Limited 14.38%unchanged
Sampath Family Trust 4.37%unchanged
Sujata Sampath Family Trust 4.37%unchanged
Indira Sundararajan 3.67%unchanged
Bhooma Parthasarathy Family Trust 3.35%unchanged
R Parthasarathy Family Trust 3.35%unchanged
Varadarajan S 2.68%unchanged
Shivani Tejas Trivedi 2.32%+0.24 pp
Gymkhana Partners L.P. VC / PE1.33%+0.19 pp
Nehal Vinod Shah 1.22%unchanged
Vinod Maganlal Shah 1.16%newly disclosed
Swayam Rajiv Doshi 1.03%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Expensive

To justify its price of ₹424, this stock must grow earnings at 8% every year for 7 years. Our analysis caps realistic growth at ~5%. At that growth it is worth ₹372 — downside of 12%.

Growth the price implies
7.6% a year
for 7 years, fading to 4%
It has actually compounded at
5.0% a year
net profit, FY23–FY26 · EPS 5.2%
The gap
0.0 pp
-12% downside if it only repeats history
Price today ₹424.5 Value at the reference growth ₹371.74

Change the assumptions yourself →

Learn to analyse Ultramarine Pig.

Guides on how to read this kind of business and the numbers that matter.