Mukul Agrawal Buys Fresh 14.33 Lakh Shares in This Paint Stock; Do You Hold It?

Synopsis: Ace investor Mukul Agrawal invested via his wife, Asha Mukul Agrawal, bought 14.33 lakh shares (2.5%) in Sirca Paints India Limited

This small-cap Paint Stock, engaged in manufacturing and distributing wood coatings, decorative paints, polishes, finishes, and protective products for furniture and interiors, is in focus after Mukul Agrawal made a fresh stake of 2.50 percent in the company.

With a market capitalization of Rs. 2,660.17 crore, the shares of Sirca Paints India Limited were currently trading at Rs. 468.40 per equity share, down nearly 2.92 percent from its previous day’s close price of Rs. 482.50.

Ace investor Mukul Agrawal made a notable investment in Sirca Paints India Limited through his wife Asha Mukul Agrawal’s account, investing nearly 14.33 lakh shares in Q3 FY26, which is a 2.5 percent stake in the company. The total investment value was around Rs. 68.7 crore.

In December 2025, Sirca Paints India Limited had a majority stake held by the promoters at 65.19 percent, foreign institutional investors at 6.92 percent, domestic institutional investors at 0.32 percent, and the public at 27.58 percent.

Management Guidance:

Sirca Paints India Limited has guided for around 35-40 percent growth in FY26 after consolidating Wembley. Management clarified that the earlier 25-30 percent guidance did not include Wembley. Over the long term, Sirca Paints India Limited aims to achieve Rs. 1,000 crore revenue by FY30.

Sirca Paints India Limited operates 5 manufacturing facilities and 2 production plants, supported by a strong team of over 800 employees. The company has more than 20 branches and depots and serves more than 900 OEM clients. With a presence in more than 85 countries, Sirca has steadily expanded its reach in both domestic and international markets.

Sirca Paints India Limited was founded in 2006 in New Delhi by Sanjay Agarwal, Apoorv Agarwal, and Gurjit Singh Bains and operates as a leading maker of wood coatings and paints across India. The company imports and distributes high-quality polyurethane polishes from Italy, wall paints from Korea, and local products like thinners and abrasives.

The company became the first to launch wood filler in India, opened branches in Mumbai and Chennai, and partnered with Sirca SPA Italy for manufacturing licenses on paints, sealers, and finishes. Sirca focuses on premium wood finishes, protective coatings, and customer support for furniture, interiors, and builders nationwide. 

Coming into financial highlights, Sirca Paints India Limited’s revenue has increased from Rs. 105 crore in Q2 FY25 to Rs. 131 crore in Q2 FY26, which has grown by 24.76 percent. The net profit has also grown by 38.46 percent from Rs. 13 crore in Q2 FY25 to Rs. 18 crore in Q2 FY26.

Sirca Paints India Limited’s revenue and net profit have grown at a CAGR of 23.81 percent and 20.51 percent, respectively, over the last three years. In terms of return ratios, the company’s ROCE and ROE stand at 19.7 percent and 14.9 percent, respectively. Sirca Paints India Limited has an earnings per share (EPS) of Rs. 10.4, and its debt-to-equity ratio is 0.10x.

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