How did Retina Paints perform financially in FY26?

The company grew revenue by 15% to **₹23.74 crore**, but net profit plummeted by more than 50% to **₹0.64 crore**.

What is the current debt position of the company?

As of March 31, 2026, Retina Paints reported total outstanding qualified borrowings of **₹19.28 crore**.

Did the board announce any governance changes?

No. The board re-appointed its existing internal, tax, and secretarial auditors for the **2026-27** period.

What does the profit decline imply about the company's operations?

The drop from **₹1.30 crore** to **₹0.64 crore** indicates a significant deterioration in operating margins, particularly during the second half of the year.

Earnings · Paints · Micro cap

Retina Paints revenue climbs 15% but profits halve

Top-line growth to ₹23.74 crore failed to protect margins, as annual net profit dropped to ₹0.64 crore.

— 1 earlier story on Retina Paints Ltd. →

RETINA 28 May 2026 · 2:33 PM IST Verify on BSE · NSE

Mkt cap₹76.09 cr

P/E58.35×

ROE3.82%

Debt / eq.0.29

₹0.64 cr Annual net profit, down from ₹1.30 crore in FY25.

What's new

Revenue grew 15% to ₹23.74 crore for the year ended March 31, 2026.
Net profit fell over 50% to ₹0.64 crore.
Total outstanding qualified borrowings reached ₹19.28 crore.

Why this matters

Revenue growth is meaningless if it doesn't drop to the bottom line. The sharp margin contraction suggests the company is struggling to manage costs as it scales.

What we're watching

Whether the margin pressure continues into the next fiscal year.
The company's ability to service its ₹19.28 crore debt load.
Any management commentary on the rising cost base.

The full read

Retina Paints grew its top line by 15% to ₹23.74 crore in FY26. It was a hollow victory. Net profit fell by more than 50% to ₹0.64 crore, down from ₹1.30 crore in the prior year.

This divergence between revenue and profit suggests that the company's operating margins eroded sharply, especially in the second half of the year, while the company simultaneously disclosed total outstanding qualified borrowings of ₹19.28 crore. The board opted for continuity, re-appointing its internal, tax, and secretarial auditors for the upcoming year. For a nano-cap firm, this level of margin compression is a warning sign. The company is moving more product, but it is keeping significantly less of the cash.

Questions answered

How did Retina Paints perform financially in FY26?: The company grew revenue by 15% to ₹23.74 crore, but net profit plummeted by more than 50% to ₹0.64 crore.
What is the current debt position of the company?: As of March 31, 2026, Retina Paints reported total outstanding qualified borrowings of ₹19.28 crore.
Did the board announce any governance changes?: No. The board re-appointed its existing internal, tax, and secretarial auditors for the 2026-27 period.
What does the profit decline imply about the company's operations?: The drop from ₹1.30 crore to ₹0.64 crore indicates a significant deterioration in operating margins, particularly during the second half of the year.

Mentioned: Retina Paints · FY26

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 · 2:33 PM IST Retina Paints revenue climbs 15% but profits halve
today Retina Paints revenue climbs 15% but profits crater by half