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Associated Coaters Limited

Associated Coaters Limited

BBSE:ASSOCIATED
96.50
INR
0.00
(0.00%)
118.98MMarket Cap
Associated Coaters Limited
BSE:ASSOCIATED
(Bombay Stock Exchange)

Recent

price

96.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2021
2022
2023
2024
2025
2026
TTM
INR
- -
10.31
26.55
39.78
44.07
61.12
- -
Revenue per Share
-0.01
1.01
4.02
7.3
7.85
8.47
- -
Basic EPS, GAAP
- -
-0.33
4.4
2.07
-12.26
4.23
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.18
1.19
5.2
12.27
50.14
57.87
57.87
Book Value per Share
0.18
1.19
5.2
12.27
50.14
57.87
57.87
Tangible Book Value per Share
1
1
1
1
1
1
1
Basic Weighted Avg Shares
- -
14
36
54
60
83
- -
Sales/Revenue/Turnover
- -
13.29
20.59
25.74
24.23
16.79
- -
Operating Margin (%)
- -
- -
1
1
3
2
- -
Depreciation Expense
- -
1
5
10
11
11
- -
Net Income, GAAP
- -
25.99
26.01
26.88
26.16
23.17
- -
Effective Tax Rate (%)
- -
9.81
15.13
18.36
17.82
13.86
- -
Profit Margin (%)
- -
-3
3
12
47
36
36
Working Capital
- -
1
1
3
1
1
1
LT Debt
- -
2
7
17
68
78
78
Total Equity
- -
81.4
83.82
59.2
22.14
13.69
- -
Return on Invested Capital (%)
- -
95.16
102.08
70.66
23.99
15.48
- -
Return on Capital (%)
- -
148.35
125.71
83.59
25.17
15.69
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
1
1
1
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1
1
1
Market Capitalization
134
148
119

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
71
79
61
Cash, Cash Equivalents & STI
27
28
15
Accounts Receivable, Net
37
32
38
Inventories
4
9
4
Total Current Liabilities
24
26
25
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
274.5%
15.42%
Free Cash Flow
- -
- -
-134.5%
Net Income, GAAP
- -
-1,893.97%
7.85%
Sales/Revenue/Turnover
- -
- -
38.7%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
54
2025
- -
- -
60
2026
- -
- -
83

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
7.3
2025
- -
- -
7.85
2026
- -
- -
8.47

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -
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Business
Associated Coaters Limited is an India-based metal finishing and surface coating company that provides specialized surface treatment, coating, and industrial fabrication solutions primarily for architectural, real estate, automotive, and industrial applications. Founded in 2017 and headquartered in Kolkata, West Bengal, India, the company operates manufacturing and coating facilities that deliver high-performance finishings for aluminum extrusions and various metal substrates. The company's comprehensive portfolio includes automated and manual powder coating services for architectural profiles and industrial components; polyvinylidene fluoride (PVDF) coating systems engineered for exterior building facades, curtain walls, window and door frames, louvers, and structural frameworks; specialized sublimation wood-finish coatings on metallic surfaces for interior fixtures, furniture, and automotive trims; pre-treatment chemical surface processes, including multi-stage cleaning, degreasing, etching, and chemical conversion coatings to enhance anti-corrosion resistance and coating adhesion; custom metal fabrication services supporting the architectural, medical, refrigeration, retail, and telecommunications sectors; and the commercial production of industrial-grade coating powders. Associated Coaters operates as an approved applicator for multinational coating manufacturers, including AkzoNobel, Jotun, and Asian Paints. In recent corporate developments, the company converted to a public limited company and completed its initial public offering on the BSE SME platform in June 2024 to finance strategic growth initiatives. Subsequently, the company expanded its operational capabilities through capital expenditures allocated toward the installation of advanced plant machinery and the acquisition of a powder manufacturing facility, marking its vertical integration into in-house coating powder formulation and production.