Ultramarine & Pigments Share Price Target 2026, 2027, 2030, 2040, 2050
Ultramarine & Pigments is a well-known Indian company. The company makes pigments, surfactants, and also provides BPO services. It mainly produces pigments like ultramarine blue and violet, which are used to give colour to products such as paints, plastics, rubber, inks, and cosmetics. It also makes LABSA and AOS, which are used in detergents, soaps, and shampoos. The company supplies its products to many industries and has factories in Tamil Nadu and Andhra Pradesh.
What is Ultramarine & Pigments Ltd NSE: ULTRAMAR?
Ultramarine & Pigments was established in 1960 in Mumbai, India and is led by Chairman Rangaswamy Sampath. It is a well-known Indian company that makes pigments, detergents, and other special chemicals. These products are used in many daily items, such as paints, plastics, inks, cosmetics, and cleaning products. The company has factories in states like Tamil Nadu and Andhra Pradesh, and it sells its products in India and also in other countries. It is known for its long experience in the chemical business and for providing good-quality products to many industries.
It mainly makes inorganic pigments and surfactants. These products are used in many daily items like paints, plastics, cosmetics, inks, and detergents. Over many years, it has built a strong position in the market by supplying reliable products to different industries. The company also pays attention to what customers need and designs products accordingly. Because of this, many businesses buy pigments and chemicals regularly from this company. In 2026, its share price target would be ₹821, as per stock market analysts.
According to stock market analysts, its share price would be between ₹297 to ₹821 in 2026.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 297 | 821 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 369 | 436 |
| February | 390 | 468 |
| March | 365 | 460 |
| April | 311 | 500 |
| May | 297 | 530 |
| June | 323 | 588 |
| July | 374 | 621 |
| August | 412 | 663 |
| September | 465 | 687 |
| October | 535 | 720 |
| November | 584 | 768 |
| December | 636 | 821 |
The company has several factories in India that help it produce and supply products easily. Its main factories are in Chennai and Ranipet in Tamil Nadu, and another important factory is in Naidupet in Andhra Pradesh. These factories use modern machines that help keep product quality and safety high. The company manages these factories carefully so that work runs smoothly. In 2027, its share price target would be ₹1325, as per stock market analysts.
According to stock market analysts, its share price would be between ₹780 to ₹1325 in 2027.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2027 | 780 | 1325 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 780 | 950 |
| February | 820 | 977 |
| March | 847 | 990 |
| April | 887 | 1032 |
| May | 910 | 1068 |
| June | 942 | 1084 |
| July | 968 | 1121 |
| August | 990 | 1165 |
| September | 1010 | 1187 |
| October | 1035 | 1236 |
| November | 1065 | 1284 |
| December | 1080 | 1325 |
The company makes different pigments, such as ultramarine blue and ultramarine violet. These pigments are used to give colour and brightness to many products like paints, plastics, inks, laundry products, and cosmetics. Many industries like these pigments because they are stable, reliable, and safe to use. The company tries to maintain good quality while making pigments, so customers always get the same standard of product. In 2028, its share price target would be ₹1702, as per stock market analysts.
According to stock market analysts, its share price would be between ₹1278 to ₹1702 in 2028.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2028 | 1278 | 1702 |
The company’s important product is Surfactants. These are special chemicals used in detergents, soaps, shampoos, and other cleaning products. Surfactants help remove dirt, oil, and grease easily, which makes cleaning products work better. It supplies these surfactants to companies that make household cleaning products. This business is important for the company’s income and growth. In 2029, its share price target would be ₹2088, as per stock market analysts.
According to stock market analysts, its share price would be between ₹1678 to ₹2088 in 2029.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2029 | 1678 | 2088 |
The company has also started IT-enabled services and BPO services. Over time, the company decided to grow beyond manufacturing and enter the service sector. This helps the company earn income from different sources. It also shows that the company can adapt to changes in the business world. So having multiple service businesses makes the company stronger and supports long-term growth. In 2030, its share price target would be ₹2630, as per stock market analysts.
According to stock market analysts, its share price would be between ₹2050 to ₹2630 in 2030.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2030 | 2050 | 2630 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 2050 | 2274 |
| February | 2089 | 2354 |
| March | 2100 | 2389 |
| April | 2136 | 2411 |
| May | 2178 | 2455 |
| June | 2210 | 2478 |
| July | 2258 | 2500 |
| August | 2289 | 2521 |
| September | 2300 | 2545 |
| October | 2321 | 2574 |
| November | 2358 | 2588 |
| December | 2389 | 2630 |
Over the years, the company has invested in modern technology and improved machines to make better products and work more efficiently. The company produce high-quality pigments and chemicals that meet industry standards. This helps the company to stay competitive in India and in international markets. The company also studies market trends and customer needs so it can improve its products when required. In 2040, its share price target would be ₹8270, as per stock market analysts.
According to stock market analysts, its share price would be between ₹7375 to ₹8270 in 2040.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2040 | 7375 | 8270 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 7375 | 7580 |
| February | 7414 | 7611 |
| March | 7474 | 7665 |
| April | 7500 | 7690 |
| May | 7545 | 7714 |
| June | 7589 | 7745 |
| July | 7612 | 7788 |
| August | 7650 | 7821 |
| September | 7687 | 7868 |
| October | 7721 | 7890 |
| November | 7755 | 8025 |
| December | 7965 | 8270 |
The company does not sell its products only in India. The company exports its products to many countries around the world. This shows that the company can meet international quality standards. Customers from different countries trust the company for its pigments and chemical products. It helps the company understand global demand and improve its products. In 2050, its share price target would be ₹14936, as per stock market analysts.
According to stock market analysts, its share price would be between ₹13870 to ₹14936 in 2050.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2050 | 13870 | 14936 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 13870 | 14000 |
| February | 13932 | 14121 |
| March | 13987 | 14254 |
| April | 14035 | 14377 |
| May | 14110 | 14424 |
| June | 14223 | 14521 |
| July | 14300 | 14635 |
| August | 14374 | 14678 |
| September | 14441 | 14711 |
| October | 14521 | 14754 |
| November | 14584 | 14821 |
| December | 14621 | 14936 |
Should I buy Ultramarine & Pigments stock?
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 297 | 821 |
| 2027 | 780 | 1325 |
| 2028 | 1278 | 1702 |
| 2029 | 1678 | 2088 |
| 2030 | 2050 | 2630 |
| 2040 | 7375 | 8270 |
| 2050 | 13870 | 14936 |
It is a small but stable chemical company with more than 60 years of experience and very low debt. Its products, like pigments and surfactants, are used in items such as detergents, paints, and plastics, so there is steady demand for them. The company also gives dividends, which many long-term investors like. So, if you want to invest for the long term, it could be a good one, but you should do your own research to get the perfect idea about the stock.
Ultramarine & Pigments earnings results
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
| Sales + | 306 | 308 | 490 | 557 | 561 | 695 | 771 |
| Expenses + | 230 | 232 | 406 | 455 | 466 | 576 | 645 |
| Operating Profit | 77 | 76 | 84 | 102 | 95 | 119 | 126 |
| OPM % | 25% | 25% | 17% | 18% | 17% | 17% | 16% |
| Other Income + | 11 | 9 | 9 | 11 | 10 | 12 | 16 |
| Interest | 2 | 2 | 4 | 5 | 7 | 7 | 6 |
| Depreciation | 9 | 9 | 12 | 17 | 22 | 24 | 27 |
| Profit before tax | 78 | 75 | 78 | 91 | 76 | 100 | 109 |
| Tax % | 20% | 26% | 25% | 24% | 24% | 25% | |
| Net Profit + | 62 | 56 | 58 | 69 | 58 | 75 | 84 |
| EPS in Rs | 21.24 | 19.11 | 19.97 | 23.70 | 19.73 | 25.70 | 28.65 |
| Dividend Payout % | 24% | 26% | 25% | 21% | 25% | 23% |
Key Metrics
| TTM PE Ratio | PB Ratio | Dividend Yield | Sector PE | Sector PB | Sector Div Yld |
| 13.27 | 1.14 | 1.58% | 26.54 | 3.02 | 1.70% |
Peers & Comparison
| Stock | PE Ratio | PB Ratio | Dividend Yield |
| ULTRAMARINE & PIGMENTS Ltd | 14.79 | 1.14 | 1.58% |
| Solar Industries India Ltd | 93.00 | 24.72 | 0.08% |
| Linde India Ltd | 126.84 | 15.10 | 0.18% |
| Himadri Speciality Chemical Ltd | 39.79 | 5.86 | 0.13% |
Is Ultramarine & Pigments stock good to buy? (bull case & bear case)
Bull Case:
- The company has been running for more than 60 years since 1960, so it has strong experience and a stable business in the chemical industry.
- In recent years, the company reported annual revenue of around ₹700–₹800 crore, which means its business size is steady and well established.
- The company earns a net profit of around ₹70–₹90 crore per year, which shows it is making a profit regularly.
- The company is almost debt-free with a debt-to-equity ratio of around 0.08–0.09, which means it does not have much loan burden.
- It also gives a dividend yield of around 1–1.5 %, which is good for investors who like regular income from dividends.
Bear Case:
- The company’s return on equity (ROE) is around 7–8 %, which means it is not using investors’ money as efficiently as some faster-growing companies.
- The business growth has been around 5–8 % per year, which is moderate and may not lead to very fast stock price growth.
- The company’s market cap is around ₹1,200–₹1,400 crore, so it is a small-cap stock, and its price can move up and down more easily.
- The company depends a lot on the chemical and detergent industry, so if demand in these sectors slows down, the company’s performance can also be affected.
Conclusion
It is a stable and experienced company that has been running for more than 60 years. The company makes important products like pigments and surfactants, which are used in many everyday items such as detergents, paints, plastics, and cosmetics. Because these products are used regularly, the company usually has a steady demand. It also has very low debt, earns a profit regularly, and gives dividends, which many long-term investors like.
