# Ultramarine & Pigments share price today (Ultramarine & Pigments Ltd, NSE: ULTRAMAR)

> Ultramarine & Pigments share price today: ₹355.20 at the NSE close on 3 November 2026, down 21.3% in a year. Ultramarine & Pigments (NSE: ULTRAMAR) is worth ₹1,036 crore, trades at a P/E of 11.5 and has closed between ₹350.30 and ₹453.10 over the past 52 weeks. > Ultramarine & Pigments Ltd's earnings have grown faster than its share price. Earnings per share grew +7.6% in a year while the price moved −21.3%. ULTRAMAR · Dyes & Pigments · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ultramarine-pigments-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹355.20 (−21.3% in a year)
- P/E: 11.5× (lower than 94% of the last 6.4 years)
- Revenue (Jun 2026): ₹240 Cr (+30.4% on a year ago)
- Profit (Jun 2026): ₹32.0 Cr (+60.0% on a year ago)
- Operating margin: 19.0% (+2.0 points on a year ago)
- ROCE: 11%, FY26
- ROIC: 9.8%, against a 12.0% cost of capital: −2.2 points

The main question: yearly earnings per share moved +7.6% while the share price moved −21.3%. ## What is the Ultramarine & Pigments share price today? Ultramarine & Pigments Ltd's share price was ₹355.20 at the close on 3 November 2026. It has been falling for 1 week. That is 13.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹350 and ₹453, and at that close it sat 5% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 11 years the share price moved +212% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ultramarine & Pigments this quarter? Three changes stood out: revenue up on a year earlier for 10 quarters in a row, promoters cut their stake by 5 points in one quarter and highest quarterly profit in 15 quarters. 1. Revenue up on a year earlier for 10 quarters in a row In the June 2026 quarter revenue was ₹240 crore, +30.4% on a year earlier. 2. Promoters cut their stake by 5 points in one quarter From 40.5% to 35.5% in the September 2026 quarter. 3. Highest quarterly profit in 15 quarters Profit of ₹32 crore in the June 2026 quarter is the highest of the last 15 quarters. ## What are Ultramarine & Pigments' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Ultramarine & Pigments reported revenue of ₹240 crore, up 30.4% from ₹184 crore a year earlier, and a profit of ₹32.0 crore, up 60.0% from ₹20.0 crore. ### Ultramarine & Pigments results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹240 crore | ₹184 crore | +30.4% |
| Profit | ₹32.0 crore | ₹20.0 crore | +60.0% |
| Earnings per share | ₹10.82 | ₹6.91 | +56.6% |
| Operating margin | 19.0% | 17.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Ultramarine & Pigments share price history? Ultramarine & Pigments closed at ₹355.20 on 3 November 2026, down 21.3% from ₹451.05 a year earlier (31 October 2025) and down 15.4% over five years. Its highest weekly close since March 2016 was ₹567.85 on 20 December 2024. ### Ultramarine & Pigments share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹363.60 | −2.3% |
| 1 month ago · 1 Oct 2026 | ₹405.95 | −12.5% |
| 6 months ago · 30 Apr 2026 | ₹409.75 | −13.3% |
| 1 year ago · 31 Oct 2025 | ₹451.05 | −21.3% |
| 3 years ago · 3 Nov 2023 | ₹397.00 | −10.5% |
| 5 years ago · 4 Nov 2021 | ₹419.65 | −15.4% |
| 10 years ago · 4 Nov 2016 | ₹187.65 | +89.3% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹113.70 | +212.4% |
| Highest weekly close since March 2016 · 20 Dec 2024 | ₹567.85 | −37.4% |
| Lowest weekly close since March 2016 · 1 Apr 2016 | ₹109.40 | +224.7% |
| 52-week high (weekly close) · 28 Nov 2025 | ₹453.10 | −21.6% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹350.30 | +1.4% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (558 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Ultramarine & Pigments? 3 Nov 2026: Ultramarine & Pigments closed at ₹355.20, down 2.3% on the week and down 12.5% on the month. 14 Jul 2026: ex-date for a dividend of ₹6 a share. ### Earlier

- Results for April to June 2026: Revenue up 30.4% and profit up 60.0% on a year earlier. ## What dividend does Ultramarine & Pigments pay? Ultramarine & Pigments paid ₹6 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.69% at the ₹355.20 close on 3 November 2026. The last was a dividend of ₹6 a share, ex-date 14 July 2026. ### Ultramarine & Pigments dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 14 Jul 2026 | ₹6 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 0 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Ultramarine & Pigments Ltd paid out 22% of its profit as dividends in FY26, and it paid a dividend in each of its last 7 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## Which stock lists is Ultramarine & Pigments on? Ultramarine & Pigments is on one of our India lists: Dividend stocks. [Dividend stocks Regular dividend yield (%): 1.68](https://www.sectoralpha.in/dividend-stocks-india)

## Is Ultramarine & Pigments profitable? Ultramarine & Pigments Ltd earned ₹32.0 Cr of net profit in the Jun 2026 quarter, +60.0% on the same quarter a year earlier. Full-year FY26 profit was ₹81.0 Cr. Over 6 years profit has grown 4.6% a year on average. That is 13.3% of the quarter's revenue. The same quarter a year earlier earned ₹20.0 Cr. For the full year, FY26 profit was ₹81.0 Cr (+8.0% on the year before). Why profit moved: revenue changed +30.4% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +14.9% and revenue +15.9%. Profit and revenue are moving at about the same pace. ## How much revenue does Ultramarine & Pigments make, and is it growing? Ultramarine & Pigments Ltd reported ₹240 Cr of revenue in the Jun 2026 quarter, +30.4% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 6 years it has grown 16.8% a year on average. The last full year, FY26, came in at ₹775 Cr. The last four reported quarters add to ₹831 Cr. FY26 revenue was ₹775 Cr, +11.5% on the year before. Recent pace: the last four quarters grew +15.9% on average, against 16.8% a year over the longer run, so this year is growing at about the same pace as its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +15.6%, against +18.6% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +16.5%, against +25.9% a year (rolling over). ## How much of every ₹100 of sales does Ultramarine & Pigments keep? Ultramarine & Pigments Ltd's operating margin was 19.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 7 years it has been between 16.0% and 25.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +1.7 percentage points on the year while gross margin changed −1.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Ultramarine & Pigments' profit turning into cash? Over the last 3 years, 138% of Ultramarine & Pigments Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹128 Cr of operating cash against ₹81.0 Cr of profit. After ₹70.0 Cr of spending on assets, ₹58.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 138% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: the bigger use of cash is spending on new assets, at 2.9× depreciation over three years. The next section checks what that spending is building. ## Where does Ultramarine & Pigments' cash go? Ultramarine & Pigments Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 56 days in FY26, up from 54 days in FY21. It spent ₹209 Cr on assets over the last 3 years. Customers take 38 days to pay, and stock sits for 88 days on average. At FY26 sales of ₹775 Cr, each day of that cycle ties up about ₹2.1 Cr, so roughly ₹119 Cr is tied up in the business at any time. FY26: customers took 38 days to pay and stock sat for 88 days, about 2.9 months of sales sitting as stock, for a full cycle of 56 days, longer than FY21's 54. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 88 days. Customers pay about 38 days after that. Suppliers are paid at 69 days. Together that makes the 56-day cycle. Spending on assets: ₹209 Cr over the last 3 years, against ₹73.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹30.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Ultramarine & Pigments' P/E ratio, and how does it compare with its own history? Ultramarine & Pigments Ltd's P/E is 11.5×, near the low end of its own history: it has been lower only 6% of the time. Its usual P/E (the middle reading) is 16.8×, over 6.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹31.58. Why the multiple is where it is: over the past year earnings per share moved +7.6% while the price moved −21.3%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −3.3% a year; about +8.7% a year came from earnings growth and about −12.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Ultramarine & Pigments business getting better or worse? Ultramarine & Pigments Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 12.5%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does Ultramarine & Pigments earn on its capital? Ultramarine & Pigments Ltd earned a ROCE of 11% in FY26. That is up from a low of 9% in FY24. Its return on capital used (ROIC) is 2.2 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 10.5% net margin and 0.71× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.5% net margin × 0.71× asset turnover × 1.26× leverage (assets divided by equity) ≈ 9.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 9.8% − 12.0% = −2.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 9.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 8.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Ultramarine & Pigments have too much debt? Ultramarine & Pigments Ltd has total debt of ₹86.0 Cr against shareholder equity of ₹870 Cr as of Jun 2026, so its debt is 0.10× its equity, which is very little. Year by year, that ratio went from 0.06 in FY22 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Ultramarine & Pigments shareholding pattern? Promoters cut their stake in Ultramarine & Pigments Ltd by 5.4 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 35.5% of the company. Foreign institutions moved +0.5 points over the same period, to 1.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −5.4 points over 8 quarters, to 35.5%; Foreign institutions: +0.5 points over 8 quarters, to 1.7%; Domestic institutions: +0.5 points over 8 quarters, to 0.8%. Why the owners changed: promoters drove it (−5.4 points), with the other side taken by foreign institutions (+0.5 points). They reduced their stake. ## How far is Ultramarine & Pigments from balance-sheet trouble? For Ultramarine & Pigments Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ultramarine & Pigments rank in its industry? 53.6 out of 100, rank 5 of 10 in Dyes & Pigments, with 81% of the evidence available. Ultramarine & Pigments Ltd scores 53.6 out of 100 against the 10 companies it is compared with in Dyes & Pigments, ranking 5. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 20.5 + 15.6 + 9.6 + 7.9 = 53.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ultramarine & Pigments compared with? Ultramarine & Pigments ranks 5 of 10 Dyes & Pigments companies on the 4-Factor Sector Score, with 53.6 out of 100. 1. [Bhageria Industries Ltd](https://www.sectoralpha.in/stocks/bhageria-industries-ltd) BHAGERIA · leader · Most evidence points up · 82% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.5/35 · Revenue 75.8% · Profit 100% · Operating margin change 8 points · 95% evidence Capital efficiency 14.3/25 · ROCE 9.4% · Operating margin 19% · 76% evidence Valuation 9.2/20 · P/E 14× · PEG n/a · 50% evidence Relative strength 17.7/20 · Lead over its industry 45.6% · Lead over NIFTY 500 79% · 1 year 61.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 28.5 + 14.3 + 9.2 + 17.7 = 69.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Bodal Chemicals Ltd](https://www.sectoralpha.in/stocks/bodal-chemicals-ltd) BODALCHEM · breaking out · Most evidence points up · 89% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 27.6% · Profit 100% · Operating margin change 0 points · 88% evidence Capital efficiency 10.1/25 · ROCE 5.6% · Operating margin 10% · 100% evidence Valuation 14.3/20 · P/E 30.2× · PEG 0.39 · 65% evidence Relative strength 20.0/20 · Lead over its industry 79.6% · Lead over NIFTY 500 114.4% · 1 year 168.5% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.5 + 10.1 + 14.3 + 20 = 68.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Atul Ltd](https://www.sectoralpha.in/stocks/atul-ltd) ATUL · quiet · Evidence leans up · 100% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 18.1% · Profit 40.5% · Operating margin change -4 points · 100% evidence Capital efficiency 19.3/25 · ROCE 14.9% · Operating margin 13% · 100% evidence Valuation 16.2/20 · P/E 19.2× · PEG 0.47 · 100% evidence Relative strength 0.0/20 · Lead over its industry -35.1% · Lead over NIFTY 500 -16.5% · 1 year -12.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.8 + 19.3 + 16.2 + 0 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Vidhi Specialty Food Ingredients Ltd](https://www.sectoralpha.in/stocks/vidhi-specialty-food-ingredients-ltd) VIDHIING · losing its lead · Evidence leans up · 85% evidence 55.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 34.4% · Profit 22.4% · Operating margin change -5 points · 100% evidence Capital efficiency 21.8/25 · ROCE 18.8% · Operating margin 19% · 100% evidence Valuation 5.3/20 · P/E 25.5× · PEG 2.77 · 100% evidence Relative strength 9.3/20 · Lead over its industry n/a · Lead over NIFTY 500 1.3% · 1 year -9% · 25% evidence · 10 of 12 weeks ahead Exact sum: 18.8 + 21.8 + 5.3 + 9.3 = 55.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 5. Ultramarine & Pigments Ltd this page ULTRAMAR · quiet · Evidence leans up · 81% evidence 53.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 15.6% · Profit 16.5% · Operating margin change 2 points · 88% evidence Capital efficiency 15.6/25 · ROCE 10.8% · Operating margin 19% · 100% evidence Valuation 9.6/20 · P/E 11.4× · PEG 2.42 · 100% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.2% · 1 year -22.3% · 25% evidence · 7 of 12 weeks ahead Exact sum: 20.5 + 15.6 + 9.6 + 7.9 = 53.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Kiri Industries Ltd](https://www.sectoralpha.in/stocks/kiri-industries-ltd) KIRIINDUS · breaking out · Evidence leans down · 71% evidence 49.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 25% · Profit 100% · Operating margin change 13 points · 83% evidence Capital efficiency 5.3/25 · ROCE 3.4% · Operating margin 5% · 76% evidence Valuation 11.5/20 · P/E 4.4× · PEG n/a · 15% evidence Relative strength 12.3/20 · Lead over its industry -4.7% · Lead over NIFTY 500 21.4% · 1 year 1% · 100% evidence · 11 of 12 weeks ahead Exact sum: 20.7 + 5.3 + 11.5 + 12.3 = 49.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Sudarshan Colorants India Ltd](https://www.sectoralpha.in/stocks/sudarshan-colorants-india-ltd) SUDARCOLOR · turning · Evidence leans down · 100% evidence 47.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.2/35 · Revenue 6.3% · Profit -9.8% · Operating margin change 3 points · 100% evidence Capital efficiency 11.9/25 · ROCE 11.4% · Operating margin 13% · 100% evidence Valuation 17.6/20 · P/E 14.5× · PEG 0.47 · 100% evidence Relative strength 6.7/20 · Lead over its industry -20.5% · Lead over NIFTY 500 2% · 1 year -28.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 11.2 + 11.9 + 17.6 + 6.7 = 47.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Sudarshan Chemical Industries Ltd](https://www.sectoralpha.in/stocks/sudarshan-chemical-industries-ltd) SUDARSCHEM · breaking out · Evidence leans down · 81% evidence 44.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.6/35 · Revenue 90.2% · Profit 2.3% · Operating margin change 2 points · 88% evidence Capital efficiency 8.4/25 · ROCE 5.5% · Operating margin 10% · 100% evidence Valuation 6.4/20 · P/E 78.1× · PEG 1.29 · 100% evidence Relative strength 11.1/20 · Lead over its industry n/a · Lead over NIFTY 500 5.5% · 1 year -13.7% · 25% evidence · 12 of 12 weeks ahead Exact sum: 18.6 + 8.4 + 6.4 + 11.1 = 44.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Sadhana Nitro Chem Ltd](https://www.sectoralpha.in/stocks/sadhana-nitro-chem-ltd) SADHNANIQ · quiet · Most evidence points down · 71% evidence 32.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.1/35 · Revenue -24.3% · Profit -80% · Operating margin change 646.8 points · 74% evidence Capital efficiency 4.0/25 · ROCE -11.1% · Operating margin 17.9% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 6.3/20 · Lead over its industry -16.2% · Lead over NIFTY 500 5% · 1 year 13.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 12.1 + 4 + 10 + 6.3 = 32.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Indokem Ltd](https://www.sectoralpha.in/stocks/indokem-ltd) INDOKEM · breaking out · Most evidence points down · 64% evidence 29.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.8/35 · Revenue -4.5% · Profit -57.5% · Operating margin change 0.5 points · 88% evidence Capital efficiency 3.1/25 · ROCE 5.5% · Operating margin 4.8% · 100% evidence Valuation 8.5/20 · P/E 799× · PEG n/a · 15% evidence Relative strength 11.4/20 · Lead over its industry n/a · Lead over NIFTY 500 8.2% · 1 year -7.2% · 25% evidence · 5 of 5 weeks ahead Exact sum: 6.8 + 3.1 + 8.5 + 11.4 = 29.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Dyes & Pigments](https://www.sectoralpha.in/sectors/dyes-pigments), all 10 compared on one page. ## Which companies are close to Ultramarine & Pigments in size? Ultramarine & Pigments is the 8th largest of 10 Dyes & Pigments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Bodal Chemicals, Indokem, Bhageria Industries and Vidhi Specialty Food Ingredients. Just below it: Sudarshan Colorants India and Sadhana Nitro Chem. ### Dyes & Pigments companies close in size

1. [Bodal Chemicals Ltd](https://www.sectoralpha.in/stocks/bodal-chemicals-ltd) ₹2,072 crore
2. [Indokem Ltd](https://www.sectoralpha.in/stocks/indokem-ltd) ₹1,790 crore
3. [Bhageria Industries Ltd](https://www.sectoralpha.in/stocks/bhageria-industries-ltd) ₹1,582 crore
4. [Vidhi Specialty Food Ingredients Ltd](https://www.sectoralpha.in/stocks/vidhi-specialty-food-ingredients-ltd) ₹1,538 crore
5. Ultramarine & Pigments Ltd ₹1,027 crore
6. [Sudarshan Colorants India Ltd](https://www.sectoralpha.in/stocks/sudarshan-colorants-india-ltd) ₹857 crore
7. [Sadhana Nitro Chem Ltd](https://www.sectoralpha.in/stocks/sadhana-nitro-chem-ltd) ₹682 crore

[All 10 Dyes & Pigments companies, largest first](https://www.sectoralpha.in/sectors/dyes-pigments#all-companies)

### Companies close in size in other industries

1. [Unitech Ltd](https://www.sectoralpha.in/stocks/unitech-ltd) ₹1,028 crore · Miscellaneous
2. [Crest Ventures Ltd](https://www.sectoralpha.in/stocks/crest-ventures-ltd) ₹1,027 crore · Finance & Investments - Others
3. Ultramarine & Pigments Ltd ₹1,027 crore
4. [Dhampur Sugar Mills Ltd](https://www.sectoralpha.in/stocks/dhampur-sugar-mills-ltd) ₹1,026 crore · Sugar
5. [Allcargo Global Ltd](https://www.sectoralpha.in/stocks/allcargo-global-ltd) ₹1,022 crore

## What else do people ask about Ultramarine & Pigments? ### What is Ultramarine & Pigments's share price today? Ultramarine & Pigments Ltd's share price is ₹355.20, −21.3% over the past year. The whole company is worth ₹1,036 Cr on the market. In the last 52 weeks it traded between ₹350 to ₹453; today it is 5% of the way up from the low, 13.4% below its 200-day average (as of 3 November 2026). ### What were Ultramarine & Pigments's latest quarterly results? Ultramarine & Pigments Ltd reported revenue of ₹240 Cr and net profit of ₹32.0 Cr for the Jun 2026 quarter. Revenue rose 30.4% and profit rose 60.0% compared with a year earlier. Earnings per share were ₹10.82. The operating margin was 19.0%, 2.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Ultramarine & Pigments's market cap? Ultramarine & Pigments Ltd's market capitalisation is ₹1,036 Cr at a share price of ₹355.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ultramarine & Pigments performing? Ultramarine & Pigments Ltd's share price has been falling for 1 weeks. In its latest quarter, revenue rose 30.4% and profit rose 60.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 3 November 2026). ### Will Ultramarine & Pigments's share price go up? This page does not forecast Ultramarine & Pigments Ltd's share price. What it shows instead: the share price is ₹355.20, and it has been falling for 1 weeks. Its P/E of 11.5× is higher than 6% of its own last 6 years (as of 3 November 2026). ### Who owns Ultramarine & Pigments? Promoters own 35.5% of Ultramarine & Pigments Ltd, foreign institutions 1.7%, domestic institutions 0.8% and the public 62.0% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 5.4 percentage points over 8 quarters (as of 3 November 2026). ### Where is Ultramarine & Pigments in its business cycle? Ultramarine & Pigments Ltd's FY26 operating margin was 16.0%, against a 7-year range of 16.0% to 25.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 19.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ultramarine & Pigments story? The main question: yearly earnings per share moved +7.6% while the share price moved −21.3%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ultramarine & Pigments a stock worth studying right now? What the numbers show: Ultramarine & Pigments Ltd's earnings have grown faster than its share price. Earnings per share grew +7.6% in a year while the price moved −21.3%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ## Lists

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