True Colors Ltd
True Colors Ltd (TRUECOLORS) last reported results for the quarter ended Mar 2026, with sales of ₹150 crore and net profit of ₹16 crore. The stock last traded at ₹148, a market capitalisation of ₹365 crore, on a P/E of 11.7. Over the past 52 weeks the stock has ranged between ₹125 and ₹272. Figures are as of 6 Oct 2026 and are not real time.
True Colors Ltd share price and key metrics
- Current price
- ₹148
- Market cap
- ₹365 cr
- Stock P/E
- 11.7
- Book value
- ₹75.9
- ROE
- 25.8%
- ROCE
- 25.7%
- Dividend yield
- 0.00%
- 52w high / low
- 272/125
Metrics as of 6 Oct 2026. Not real time.
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True Colors Ltd growth and returns
- 10 Years
- %
- 5 Years
- %
- 3 Years
- 55%
- TTM
- 29%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- 100%
- TTM
- 26%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- %
- 1 Year
- -22%
- 10 Years
- %
- 5 Years
- 40%
- 3 Years
- 39%
- Last Year
- 26%
True Colors Ltd quarterly results
| ₹ crore | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 93 | 141 | 151 | 150 |
| Expenses | 86 | 108 | 128 | 126 |
| Operating profit | 7 | 33 | 23 | 24 |
| OPM % | 7% | 23% | 15% | 16% |
| Other income | 0 | 0 | 1 | -0 |
| Interest | 2 | 3 | 2 | 3 |
| Depreciation | 2 | 2 | 2 | 3 |
| Profit before tax | 3 | 29 | 19 | 18 |
| Tax % | 24% | 26% | 21% | 10% |
| Net profit | 3 | 22 | 15 | 16 |
| EPS (₹) | 170.67 | 11.43 | 5.97 | 6.67 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
True Colors Ltd annual results
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 9 | 81 | 160 | 233 | 301 |
| Operating profit | 1 | 6 | 14 | 41 | 47 |
| OPM % | 8% | 7% | 9% | 18% | 16% |
| Net profit | 0 | 4 | 8 | 24 | 31 |
| EPS (₹) | 32.67 | 261.33 | 550.00 | 12.78 | 12.64 |
TTM is the trailing twelve months to the most recent quarter.
True Colors Ltd balance sheet
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity capital | 0.15 | 0.47 | 0.47 | 19 | 25 |
| Reserves | 0 | 6 | 14 | 37 | 162 |
| Borrowings | 0 | 20 | 57 | 48 | 46 |
| Other liabilities | 10 | 19 | 35 | 52 | 54 |
| Total liabilities | 11 | 46 | 106 | 155 | 287 |
| Fixed assets | 0 | 0 | 40 | 47 | 80 |
| CWIP | 0 | 1 | 0 | 1 | 2 |
| Investments | 0 | 0 | 0 | 0 | 27 |
| Other assets | 11 | 44 | 66 | 107 | 178 |
| Total assets | 11 | 46 | 106 | 155 | 287 |
As reported by the company. Total assets equal total liabilities by construction.
True Colors Ltd cash flow
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operations | 0 | -20 | 9 | 9 | -35 |
| Cash from investing | 0 | -1 | -34 | -10 | -65 |
| Cash from financing | 0 | 22 | 29 | 3 | 94 |
| Net cash flow | 1 | -0 | 4 | 2 | -6 |
| Free cash flow | 0 | -22 | -24 | -3 | -73 |
| CFO / operating profit | 69% | -351% | 89% | 39% | -59% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
True Colors Ltd operating ratios
| Per year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROCE % | — | 43% | 28% | 44% | 26% |
| Debtor days | 260 | 60 | 52 | 89 | 135 |
| Inventory days | 44 | 65 | 88 | 96 | 84 |
| Days payable | 373 | 58 | 82 | 100 | 86 |
| Cash conversion cycle | -68 | 67 | 58 | 85 | 133 |
| Working capital days | 1 | 23 | -25 | 37 | 105 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
True Colors Ltd shareholding pattern
Promoters held 68.89% at Mar 2026, broadly unchanged since Sep 2025. FIIs 0.77% and DIIs 8.66%.
| % held | Sep 2025 | Mar 2026 |
|---|---|---|
| Promoters | 68.88% | 68.89% |
| FIIs | 2.30% | 0.77% |
| DIIs | 10.81% | 8.66% |
| Public | 18.02% | 21.67% |
| No. of shareholders | 2,486 | 1,591 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
True Colors Ltd corporate filings
- Certificate under Regulation 74 (5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the Quarter ended on September 30, 2026Company Updatelow impact
- Corporate Voting Results Confirm No Major Shareholder Opposition to Resolutions at True Colors Limited AGMAGM/EGMlow impact
Cruxal's analysis: The recent AGM of True Colors Limited, held on September 30, 2026, resulted in unanimous…
Read the full analysis - True Colors Limited reports FY26 revenue of ₹302 crore, EBITDA of ₹47 crore, and PAT of ₹31 crore; strategic focus on ink manufacturing and expansion plans highlightedAGM/EGMhigh impact
Cruxal's analysis: True Colors Limited announced FY26 financials with revenue of approximately ₹302 crore…
Read the full analysis - True Colors Limited shareholders approve amalgamation scheme with Inkia Inks Private LimitedAGM/EGMmedium impact
Cruxal's analysis: True Colors Limited has successfully secured shareholder approval for the proposed Scheme…
Read the full analysis - True Colors Limited Convenes NCLT-Ordered Meeting for Amalgamation with Inkia Inks Private LimitedAGM/EGMmedium impact
Cruxal's analysis: True Colors Limited has successfully conducted an NCLT-convened meeting of its equity…
Read the full analysis - Pursuant to the Provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended by SEBI (Prohibition of Insider Trading) (Amendments) Regulations, 2018, Intimation for ....Insider Trading / SASTlow impact
- True Colors Ltd announces change in Secretarial AuditorCompany Updatelow impact
Cruxal's analysis: True Colors Ltd has informed the exchange of a change in its Secretarial Audit firm. The…
Read the full analysis - True Colors Ltd issues corrigendum to notice for Equity Shareholders meeting scheduled for September 28, 2026Company Updatelow impact
Cruxal's analysis: True Colors Ltd has published a newspaper corrigendum regarding the notice for an Equity…
Read the full analysis - True Colors Limited Issues Corrigendum to NCLT Meeting Notice Regarding Amalgamation SchemeAGM/EGMlow impact
Cruxal's analysis: True Colors Limited has issued a corrigendum to its NCLT-convened meeting notice for…
Read the full analysis - True Colors Ltd announces newspaper publication for 5th Annual General MeetingCompany Updatelow impact
Cruxal's analysis: True Colors Ltd has issued a formal intimation regarding the publication of a newspaper…
Read the full analysis - True Colors Ltd submits Integrated Annual Report and Notice of AGM for FY 2025-26Otherslow impact
Cruxal's analysis: True Colors Ltd has filed its Integrated Annual Report and the Notice of the Annual…
Read the full analysis - True Colors Limited Announces 5th Annual General Meeting Scheduled for September 30, 2026AGM/EGMlow impact
Cruxal's analysis: True Colors Limited has issued a notice for its 5th Annual General Meeting (AGM) to be…
Read the full analysis - True Colors Limited Announces 5th Annual General Meeting Scheduled for September 30, 2026Otherslow impact
Cruxal's analysis: True Colors Limited has formally announced the scheduling of its 5th Annual General…
Read the full analysis - True Colors Ltd discloses newspaper publication regarding India's SME growth storyCompany Updatelow impact
Cruxal's analysis: True Colors Ltd has filed a disclosure under Regulation 30 of SEBI (LODR) regarding the…
Read the full analysis - True Colors Ltd announces NCLT-convened meetings for Inkia Inks Private Limited amalgamationCompany Updatelow impact
Cruxal's analysis: True Colors Ltd has published newspaper notices regarding the upcoming meetings of equity…
Read the full analysis - True Colors Ltd announces NCLT-mandated meetings for Inkia Inks mergerCompany Updatelow impact
Cruxal's analysis: True Colors Ltd has published newspaper notices for the upcoming meetings of equity…
Read the full analysis - True Colors Limited Announces NCLT-Convened Meeting for Amalgamation with Inkia Inks Private LimitedAGM/EGMhigh impact
Cruxal's analysis: True Colors Limited has announced a meeting of its equity shareholders, convened by the…
Read the full analysis - True Colors Limited Receives NCLT Order for Amalgamation with Inkia Inks Private LimitedCompany Updatemedium impact
Cruxal's analysis: True Colors Limited has received an order from the NCLT, Ahmedabad Bench, directing the…
Read the full analysis - True Colors Limited Announces Formation of Joint Venture for Specialty Paper Business and Appointment of AuditorsCompany Updatemedium impact
Cruxal's analysis: True Colors Limited has announced the formation of a 50:50 Joint Venture, 'True Colors…
Read the full analysis - True Colors Ltd files Monitoring Agency Report for quarter ended June 30, 2026Company Updatelow impact
Cruxal's analysis: True Colors Ltd has submitted its Monitoring Agency Report for the quarter ended June 30…
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