Date: July 20, 2026

Company Overview

Sirca Paints India Limited is a leading name in the Indian wood coatings industry with over two decades of expertise in manufacturing and sale of wood coatings and decorative paints. The company markets products under owned and exclusively licensed brands including Sirca, Unico, San Marco, and Durante Vivan. The company is strengthening domestic manufacturing capabilities by establishing additional production facilities across East, West, and South Indian regions.

Business Activities

Details of business activities (accounting for 90% of turnover):

  • Manufacturing of Paints: 76.58% of turnover
  • Import & Trading of Paints products: 23.42% of turnover

Products/Services:

  • Manufacturing of Paints (NIC Code 20221): 76.58% of turnover
  • Import & Trading of Paints products (NIC Code 46634): 23.42% of turnover

Operations

Number of locations:

  • National: 4 plants + 19 offices = 23 locations
  • International: 0 plants + 0 offices = 0 locations

Market served:

  • National: 13 states
  • International: 1 country
  • Export contribution: Not specified

Customer segments:

  • Retail: 70% of total revenue through 4000+ dealers, 20+ branches and depots
  • OEMs: 30% of total revenue through 900+ clients

Employee Data

As of March 31, 2026:

Employees:

  • Total: 603 (555 male - 92%, 48 female - 8%)
  • Permanent: 543 (500 male - 92%, 43 female - 8%)
  • Other than Permanent: 60 (55 male - 92%, 5 female - 8%)

Workers:

  • Total: 209 (189 male - 90%, 20 female - 10%)
  • Permanent: 181 (166 male - 92%, 15 female - 8%)
  • Other than Permanent: 28 (23 male - 82%, 5 female - 18%)

Differently abled employees and workers: 0 across all categories

Women representation:

  • Board of Directors: 1 out of 6 (16.67%)
  • Key Managerial Personnel: 1 out of 4 (25.00%)

Turnover rate for permanent staff (3-year trend):

  • Employees: FY26 - 92% M, 8% F; FY25 - 90% M, 10% F; FY24 - 91% M, 9% F
  • Workers: FY26 - 92% M, 8% F; FY25 - 96% M, 4% F; FY24 - 95% M, 5% F

Subsidiary Information

Holding/Subsidiary/Associate Companies:

  • Sirca Industries Limited: Subsidiary (100% shares held), does not participate in Business Responsibility initiatives

CSR Applicability

CSR Details:

  • CSR applicable under Section 135 of Companies Act, 2013: Yes
  • Turnover: ₹49,248.41 lakh
  • Net Worth: ₹47,523.26 lakh

Compliance & Grievance Management

Complaints/Grievances on NGRBC Principles:

  • All stakeholder groups (Communities, Investors, Shareholders, Employees, Workers, Customers, Value Chain Partners): 0 complaints filed in FY26 and FY25
  • All groups have grievance redressal mechanisms in place

Material Responsibility Issues

Identified material issues:

1. Talent Management Acquisition & Retention: Risk - Failure can impact growth and service delivery

2. Training & Skill Development and Health & Wellness of employees: Opportunity - Employees are biggest strength, need right skills

3. Environmental Sustainability: Risk - Crucial due to Global Warming

4. Governance: Opportunity - Ensures highest level of corporate governance

Management & Process Disclosures

NGRBC Principles Coverage:

  • Principles 1-6, 8-9: Policies cover principles and core elements, approved by Board, translated to procedures, extend to value chain partners
  • Principle 7: Not covered by policies

Governance Structure:

  • Director responsible: Mr. Sanjay Agarwal, Chairman & Managing Director
  • Highest authority: Board of Directors
  • Committee: Stakeholders Relationship Committee provides direction on ESG strategy
  • SRC Composition: Anu Chauhan (Non-Executive Independent Director), Aman Arora (Non-Executive Independent Director, Chairperson), Sanjay Kapoor (Non-Executive Independent Director, Member)

Policy Review:

  • Policies reviewed periodically by department heads/director/board committees/board members
  • Company complies with all applicable statutory requirements
  • No independent external assessment conducted - policies reviewed internally

Principle-wise Performance

Principle 1 - Ethics, Transparency & Accountability:

  • Training coverage: Board - 100% (4 sessions), KMP - 100% (1 session), Employees - 71% (6 sessions), Workers - 87% (7 sessions)
  • No fines/penalties/settlement amounts paid in FY26

Principle 2 - Sustainable & Safe Goods/Services:

  • R&D focused on green product standards through partner Research & Technology Centre in Italy
  • Sustainable sourcing procedures: Yes, >70% sourcing from manufacturers with formal sustainability programs
  • EPR applicable: Yes, complied with Plastic Waste Management amended rules 2022

Principle 3 - Employee Well-being:

  • Benefits coverage: 100% health and accident insurance for all employees and workers
  • Maternity benefits: 100% coverage for female employees and workers
  • Paternity benefits: 100% coverage for male employees and workers
  • Retirement benefits: PF - 99% employees, 100% workers; Gratuity - 100% both; ESI - 29% employees, 71% workers
  • No safety incidents, fatalities, or high-consequence injuries reported

Principle 4 - Stakeholder Responsiveness:

  • Key stakeholders identified: Customers, employees, shareholders, academic institutions, suppliers, technology partners, industry bodies, governments, NGOs, local communities, regulators, society
  • Regular engagement through multiple channels including emails, meetings, surveys, portals

Principle 5 - Human Rights:

  • All employees and workers paid at or above minimum wage
  • Median remuneration: Board - ₹45,000, KMP - Male ₹950,400, Female ₹3,753,024, Other employees - Male ₹28,872,637, Female ₹2,249,099, Workers - Male ₹183,036, Female ₹153,600
  • No human rights complaints filed in FY26

Principle 6 - Environmental Protection:

  • Total energy consumption: FY26 - 1,347,208 KWH, FY25 - 1,137,939 KWH
  • Energy intensity: FY26 - 0.00027 per rupee turnover, FY25 - 0.0003 per rupee turnover
  • Water withdrawal: Groundwater - 1,500 KL, Third party water - 250 KL
  • All manufacturing plants operate as Zero Liquid Discharge facilities
  • Total waste generated: FY26 - 256.80 MT, FY25 - 387.78 MT
  • 100% compliance with environmental laws, no fines levied

Principle 7 - Responsible Policy Influence:

  • Member of 4 trade associations: Indian Paint Association, FIEO, Indo Italian Chamber of Commerce, Indian Chemical Council
  • No anti-competitive conduct cases

Principle 8 - Inclusive Growth:

  • 49% input material sourced from MSMEs/small producers (FY26), up from 43% (FY25)
  • Majority raw material sourced from neighboring districts within 10km range

Principle 9 - Responsible Consumer Engagement:

  • Consumer complaint resolution target: 5 working days for retail customers
  • No data privacy, advertising, cyber-security, or essential services complaints
  • 87 product complaints in FY26 (212 in FY25) relating to products, packaging, technical attributes, and color
  • No product recalls in FY26
  • Cyber security and data privacy framework in place