How did Retina Paints perform in FY26?

Revenue rose 15% to ₹23.74 crore, but net profit fell 51% to ₹0.64 crore.

What happened to the company's debt position?

Total outstanding qualified borrowings nearly doubled during the year, rising from ₹9.84 crore to ₹19.28 crore.

What does the profit decline suggest?

The sharp drop in net profit despite revenue growth indicates margin compression.

Did the company change its auditors?

No, the board confirmed the re-appointment of its internal, secretarial, and tax auditors for the 2026-27 financial period.

Earnings · Paints · Micro cap

Retina Paints revenue climbs 15% but profits crater by half

Revenue reached ₹23.74 crore, yet net profit dropped to ₹0.64 crore as debt nearly doubled to ₹19.28 crore.

— 1 earlier story on Retina Paints Ltd. →

RETINA 28 May 2026 · 2:41 PM IST Verify on BSE · NSE

Mkt cap₹76.09 cr

P/E58.35×

ROE3.82%

Debt / eq.0.29

51% Year-on-year decline in net profit.

What's new

Revenue grew 15% to ₹23.74 crore for FY26.
Net profit fell 51% to ₹0.64 crore from ₹1.30 crore.
Outstanding borrowings nearly doubled to ₹19.28 crore.

Why this matters

The company is growing its top line while losing control of its bottom line. Doubling debt to fund a business that is seeing its margins collapse is a dangerous combination for a nano-cap firm.

What we're watching

Whether the company can stabilize operating margins in FY27.
The impact of higher interest costs on future profitability.
Any management commentary on the surge in debt levels.

The full read

Retina Paints grew its top line by 15% in FY26 to ₹23.74 crore. That growth came at a steep price. Net profit plummeted 51% to ₹0.64 crore, down from ₹1.30 crore the previous year. The company is now dealing with a balance sheet under pressure, as outstanding borrowings nearly doubled from ₹9.84 crore to ₹19.28 crore. For a company with a market cap of only ₹76 crore, this rapid accumulation of debt alongside shrinking margins is a red flag. The board has opted for continuity, re-appointing its existing auditors for the coming year. The numbers tell a clear story of a business struggling to convert sales into earnings while taking on more debt.

Questions answered

How did Retina Paints perform in FY26?: Revenue rose 15% to ₹23.74 crore, but net profit fell 51% to ₹0.64 crore.
What happened to the company's debt position?: Total outstanding qualified borrowings nearly doubled during the year, rising from ₹9.84 crore to ₹19.28 crore.
What does the profit decline suggest?: The sharp drop in net profit despite revenue growth indicates margin compression.
Did the company change its auditors?: No, the board confirmed the re-appointment of its internal, secretarial, and tax auditors for the 2026-27 financial period.

Mentioned: Retina Paints Ltd.

Primary source BSE · NSE

An independent reading of the company's own disclosure — the primary filing above is the final word.

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28 May 2026 · 2:41 PM IST Retina Paints revenue climbs 15% but profits crater by half
today Retina Paints revenue climbs 15% but profits halve