{"id":216311,"date":"2026-08-24T10:57:34","date_gmt":"2026-08-24T05:27:34","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=216311"},"modified":"2026-08-24T10:57:35","modified_gmt":"2026-08-24T05:27:35","slug":"under-radar-paints-stocks-india","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/","title":{"rendered":"5 Under the Radar Paints Stocks in India"},"content":{"rendered":"<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Paints and Coatings sector. Akzo Nobel India Ltd PE 41.50 | ROE 26.50%. Shalimar Paints Ltd PE 55.00 | MCap Rs 1,500 Cr.<\/em><\/p>\n<div style=\"background: #F0F9FF; border-left: 4px solid #2E7D32; border-radius: 6px; padding: 14px 18px; margin: 18px 0;\">\n<p style=\"margin: 0; color: #1f4e79; font-size: 14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin: 8px 0 0;\">Five under the radar paints stocks in India include Akzo Nobel India Ltd (MCap Rs 11,800 Cr, PE 41.50), Shalimar Paints Ltd (PE 55.00, ROE 10.00%), Indigo Paints Ltd, Sudarshan Chemical Industries Ltd and Ultramarine and Pigments Ltd. These under the radar paints stocks in India offer distinct risk-reward profiles. Verify all figures at nseindia.com before investing.<\/p>\n<\/div>\n<p>These five under the radar paints stocks in India represent companies that are often overlooked by mainstream investors but carry strong underlying business models. Whether you are seeking low-PE value plays or high-ROE compounders, under the radar paints stocks in India deserve a closer look for your watchlist. Monitor the <a href=\"https:\/\/univest.in\/indices\/nifty-500\/nifty-500-share-price-today\">Nifty 500<\/a> index alongside individual stock metrics for a sector-level view.<\/p>\n<p>All financial data in this article is sourced from publicly available exchange disclosures and company reports. Verify every figure at nseindia.com or bseindia.com before investing in under the radar paints stocks in India or any other security.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=under-radar-paints-stocks-india\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#What_Are_Paints_and_Coatings_Stocks_in_India\" title=\"What Are Paints and Coatings Stocks in India?\">What Are Paints and Coatings Stocks in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#Why_These_Paints_and_Coatings_Stocks_Are_Under_the_Radar\" title=\"Why These Paints and Coatings Stocks Are Under the Radar\">Why These Paints and Coatings Stocks Are Under the Radar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#Budget_2026-27_Impact_on_Paints_and_Coatings_Stocks\" title=\"Budget 2026-27 Impact on Paints and Coatings Stocks\">Budget 2026-27 Impact on Paints and Coatings Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#5_Under_the_Radar_Paints_and_Coatings_Stocks_in_India_Key_Financial_Data\" title=\"5 Under the Radar Paints and Coatings Stocks in India: Key Financial Data\">5 Under the Radar Paints and Coatings Stocks in India: Key Financial Data<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#1_Akzo_Nobel_India_Ltd_NSE_AKZOINDIA\" title=\"1. Akzo Nobel India Ltd (NSE: AKZOINDIA)\">1. Akzo Nobel India Ltd (NSE: AKZOINDIA)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#2_Shalimar_Paints_Ltd_NSE_SHALPAINTS\" title=\"2. Shalimar Paints Ltd (NSE: SHALPAINTS)\">2. Shalimar Paints Ltd (NSE: SHALPAINTS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#3_Indigo_Paints_Ltd_NSE_INDIGOPNTS\" title=\"3. Indigo Paints Ltd (NSE: INDIGOPNTS)\">3. Indigo Paints Ltd (NSE: INDIGOPNTS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#4_Sudarshan_Chemical_Industries_Ltd_NSE_SUDARSCHEM\" title=\"4. Sudarshan Chemical Industries Ltd (NSE: SUDARSCHEM)\">4. Sudarshan Chemical Industries Ltd (NSE: SUDARSCHEM)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#5_Ultramarine_and_Pigments_Ltd_NSE_ULTRAMARIN\" title=\"5. Ultramarine and Pigments Ltd (NSE: ULTRAMARIN)\">5. Ultramarine and Pigments Ltd (NSE: ULTRAMARIN)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#How_to_Evaluate_Paints_and_Coatings_Stocks_in_India\" title=\"How to Evaluate Paints and Coatings Stocks in India\">How to Evaluate Paints and Coatings Stocks in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#Risks_of_Investing_in_Paints_and_Coatings_Stocks\" title=\"Risks of Investing in Paints and Coatings Stocks\">Risks of Investing in Paints and Coatings Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#Is_Akzo_Nobel_India_a_good_paint_stock\" title=\"Is Akzo Nobel India a good paint stock?\">Is Akzo Nobel India a good paint stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#What_does_Indigo_Paints_do\" title=\"What does Indigo Paints do?\">What does Indigo Paints do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/under-radar-paints-stocks-india\/#What_is_Sudarshan_Chemical_Industries\" title=\"What is Sudarshan Chemical Industries?\">What is Sudarshan Chemical Industries?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Paints_and_Coatings_Stocks_in_India\"><\/span><strong>What Are Paints and Coatings Stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Under the radar paints stocks in India are shares of companies that manufacture decorative paints, industrial coatings, pigments and specialty colorants. Beyond the widely known leaders, several smaller players in specialty coatings, pigments and niche industrial coatings offer solid fundamentals with less investor attention.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_These_Paints_and_Coatings_Stocks_Are_Under_the_Radar\"><\/span><strong>Why These Paints and Coatings Stocks Are Under the Radar<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Many of the five under the radar paints stocks in India covered in this article operate in niche sub-segments, have relatively low analyst coverage or trade in market cap ranges below the threshold of large institutional mandates. This reduced visibility can create information gaps that patient investors may find useful when evaluating fundamentals independently.<\/p>\n<ul>\n<li><strong>Lower analyst coverage:<\/strong> Fewer broking house reports mean pricing may not fully reflect business quality of under the radar paints stocks in India.<\/li>\n<li><strong>Niche product positioning:<\/strong> Several under the radar paints stocks in India serve narrow but defensible markets with limited direct competition.<\/li>\n<li><strong>Low PE or low PB relative to sector:<\/strong> Some under the radar paints stocks in India trade below sector average multiples despite solid ROE and dividend track records.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Budget_2026-27_Impact_on_Paints_and_Coatings_Stocks\"><\/span><strong>Budget 2026-27 Impact on Paints and Coatings Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Union Budget 2026-27 shaped the environment for under the radar paints stocks in India through these sector-relevant provisions:<\/p>\n<ul>\n<li>Real estate construction and renovation cycle drives decorative paint demand for all players.<\/li>\n<li>Automotive OEM and ancillary sector recovery boosts industrial coating volumes.<\/li>\n<li>Infrastructure construction (bridges, pipelines, rail) creates demand for protective industrial coatings.<\/li>\n<li>Urban beautification and smart city projects drive institutional paint procurement.<\/li>\n<li>Raw material (titanium dioxide, crude derivatives) price moderation supports margin improvement for smaller paint companies.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"5_Under_the_Radar_Paints_and_Coatings_Stocks_in_India_Key_Financial_Data\"><\/span><strong>5 Under the Radar Paints and Coatings Stocks in India: Key Financial Data<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse: collapse; width: 100%; font-size: 13px;\" border=\"1\" cellspacing=\"0\" cellpadding=\"8\">\n<thead>\n<tr style=\"background: #EBF3FB;\">\n<th style=\"text-align: left;\">Company<\/th>\n<th style=\"text-align: right;\">CMP (Rs)<\/th>\n<th style=\"text-align: right;\">MCap (Rs Cr)<\/th>\n<th style=\"text-align: right;\">PE<\/th>\n<th style=\"text-align: right;\">PB<\/th>\n<th style=\"text-align: right;\">ROE<\/th>\n<th style=\"text-align: right;\">EPS TTM<\/th>\n<th style=\"text-align: right;\">Div Yield<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Akzo Nobel India Ltd (NSE: AKZOINDIA)<\/td>\n<td style=\"text-align: right;\">Rs 3237.0<\/td>\n<td style=\"text-align: right;\">11,800<\/td>\n<td style=\"text-align: right;\">41.50<\/td>\n<td style=\"text-align: right;\">11.20<\/td>\n<td style=\"text-align: right;\">26.50%<\/td>\n<td style=\"text-align: right;\">78.00<\/td>\n<td style=\"text-align: right;\">1.60%<\/td>\n<\/tr>\n<tr>\n<td>Shalimar Paints Ltd (NSE: SHALPAINTS)<\/td>\n<td style=\"text-align: right;\">Rs 302.5<\/td>\n<td style=\"text-align: right;\">1,500<\/td>\n<td style=\"text-align: right;\">55.00<\/td>\n<td style=\"text-align: right;\">6.50<\/td>\n<td style=\"text-align: right;\">10.00%<\/td>\n<td style=\"text-align: right;\">5.50<\/td>\n<td style=\"text-align: right;\">0.20%<\/td>\n<\/tr>\n<tr>\n<td>Indigo Paints Ltd (NSE: INDIGOPNTS)<\/td>\n<td style=\"text-align: right;\">Rs 1575.0<\/td>\n<td style=\"text-align: right;\">8,200<\/td>\n<td style=\"text-align: right;\">45.00<\/td>\n<td style=\"text-align: right;\">8.20<\/td>\n<td style=\"text-align: right;\">17.00%<\/td>\n<td style=\"text-align: right;\">35.00<\/td>\n<td style=\"text-align: right;\">0.15%<\/td>\n<\/tr>\n<tr>\n<td>Sudarshan Chemical Industries Ltd (NSE: SUDARSCHEM)<\/td>\n<td style=\"text-align: right;\">Rs 784.0<\/td>\n<td style=\"text-align: right;\">9,200<\/td>\n<td style=\"text-align: right;\">28.00<\/td>\n<td style=\"text-align: right;\">5.00<\/td>\n<td style=\"text-align: right;\">16.50%<\/td>\n<td style=\"text-align: right;\">28.00<\/td>\n<td style=\"text-align: right;\">0.60%<\/td>\n<\/tr>\n<tr>\n<td>Ultramarine and Pigments Ltd (NSE: ULTRAMARIN)<\/td>\n<td style=\"text-align: right;\">Rs 912.0<\/td>\n<td style=\"text-align: right;\">1,600<\/td>\n<td style=\"text-align: right;\">19.00<\/td>\n<td style=\"text-align: right;\">3.80<\/td>\n<td style=\"text-align: right;\">18.00%<\/td>\n<td style=\"text-align: right;\">48.00<\/td>\n<td style=\"text-align: right;\">1.20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"font-size: 12px; color: #555; margin-top: 6px;\"><em>Estimated data from publicly available sources. Verify at nseindia.com before investing.<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Akzo_Nobel_India_Ltd_NSE_AKZOINDIA\"><\/span><strong>1. Akzo Nobel India Ltd (NSE: AKZOINDIA)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Akzo Nobel India Ltd, founded in 1954 and headquartered in Mumbai, is one of five under the radar paints stocks in India covered in this article. It trades at Rs 3237.0 with MCap Rs 11,800 Cr, PE 41.50 (industry avg 47.00), ROE 26.50%, EPS (TTM) Rs 78.00, book value Rs 290.00 and dividend yield 1.60%. Debt-to-equity ratio stands at 0.05.<\/p>\n<p>All figures should be verified at nseindia.com or bseindia.com before making any investment decision in this or any other stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Shalimar_Paints_Ltd_NSE_SHALPAINTS\"><\/span><strong>2. Shalimar Paints Ltd (NSE: SHALPAINTS)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Shalimar Paints Ltd, founded in 1902 and headquartered in Gurugram, is one of five under the radar paints stocks in India covered in this article. It trades at Rs 302.5 with MCap Rs 1,500 Cr, PE 55.00 (industry avg 47.00), ROE 10.00%, EPS (TTM) Rs 5.50, book value Rs 47.00 and dividend yield 0.20%. Debt-to-equity ratio stands at 0.60.<\/p>\n<p>All figures should be verified at nseindia.com or bseindia.com before making any investment decision in this or any other stock.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Screen All Paints and Coatings Stocks by PE, ROE and Dividend Yield on the Univest Screener<\/strong><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Indigo_Paints_Ltd_NSE_INDIGOPNTS\"><\/span><strong>3. Indigo Paints Ltd (NSE: INDIGOPNTS)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Indigo Paints Ltd, founded in 2000 and headquartered in Thrissur, is one of five under the radar paints stocks in India covered in this article. It trades at Rs 1575.0 with MCap Rs 8,200 Cr, PE 45.00 (industry avg 47.00), ROE 17.00%, EPS (TTM) Rs 35.00, book value Rs 194.00 and dividend yield 0.15%. Debt-to-equity ratio stands at 0.00.<\/p>\n<p>All figures should be verified at nseindia.com or bseindia.com before making any investment decision in this or any other stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Sudarshan_Chemical_Industries_Ltd_NSE_SUDARSCHEM\"><\/span><strong>4. Sudarshan Chemical Industries Ltd (NSE: SUDARSCHEM)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Sudarshan Chemical Industries Ltd, founded in 1951 and headquartered in Pune, is one of five under the radar paints stocks in India covered in this article. It trades at Rs 784.0 with MCap Rs 9,200 Cr, PE 28.00 (industry avg 38.20), ROE 16.50%, EPS (TTM) Rs 28.00, book value Rs 158.00 and dividend yield 0.60%. Debt-to-equity ratio stands at 0.45.<\/p>\n<p>All figures should be verified at nseindia.com or bseindia.com before making any investment decision in this or any other stock.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track these under the radar paints stocks in India with alerts and live data.<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Ultramarine_and_Pigments_Ltd_NSE_ULTRAMARIN\"><\/span><strong>5. Ultramarine and Pigments Ltd (NSE: ULTRAMARIN)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ultramarine and Pigments Ltd, founded in 1942 and headquartered in Chennai, is one of five under the radar paints stocks in India covered in this article. It trades at Rs 912.0 with MCap Rs 1,600 Cr, PE 19.00 (industry avg 38.20), ROE 18.00%, EPS (TTM) Rs 48.00, book value Rs 255.00 and dividend yield 1.20%. Debt-to-equity ratio stands at 0.00.<\/p>\n<p>All figures should be verified at nseindia.com or bseindia.com before making any investment decision in this or any other stock.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Paints_and_Coatings_Stocks_in_India\"><\/span><strong>How to Evaluate Paints and Coatings Stocks in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Check PE ratio versus the sector average for under the radar paints stocks in India; a PE discount may indicate value if earnings are stable<\/li>\n<li>Target ROE above 12% consistently over 3 years to confirm management quality in under the radar paints stocks in India<\/li>\n<li>Verify debt-to-equity is manageable; for most under the radar paints stocks in India a D\/E below 1 is preferred<\/li>\n<li>Review dividend yield track record as a signal of free cash flow discipline<\/li>\n<li>Cross-check the latest quarterly results to ensure the fundamentals of under the radar paints stocks in India are improving, not deteriorating<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Risks_of_Investing_in_Paints_and_Coatings_Stocks\"><\/span><strong>Risks of Investing in Paints and Coatings Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Liquidity risk:<\/strong> Some under the radar paints stocks in India have lower trading volumes which can lead to wider bid-ask spreads and price impact on entry or exit.<\/li>\n<li><strong>Sector cyclicality:<\/strong> Paints and Coatings sector earnings can swing significantly with raw material costs, demand cycles or policy changes.<\/li>\n<li><strong>Information gap:<\/strong> Lower analyst coverage for under the radar paints stocks in India means investors must rely more on primary research and company filings.<\/li>\n<li><strong>Concentration risk:<\/strong> Several under the radar paints stocks in India have significant revenue concentration in a single product, customer or geography.<\/li>\n<li><strong>Promoter holding risk:<\/strong> High promoter ownership in some under the radar paints stocks in India can mean limited free float and potential governance concerns.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Akzo Nobel India Ltd, Shalimar Paints Ltd, Indigo Paints Ltd, Sudarshan Chemical Industries Ltd and Ultramarine and Pigments Ltd are five under the radar paints stocks in India offering varied exposure to the paints and coatings sector. Each carries a distinct risk profile and operates in a different sub-segment. Akzo Nobel India Ltd trades at Rs 3237.0 with PE 41.50; Shalimar Paints Ltd at PE 55.00 and ROE 10.00%. This article is for educational purposes only. Consult a SEBI-registered financial advisor before investing in under the radar paints stocks in India or any other security.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information and may or may not be accurate. Verify all data at nseindia.com or bseindia.com before investing. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Is_Akzo_Nobel_India_a_good_paint_stock\"><\/span><strong>Is Akzo Nobel India a good paint stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Akzo Nobel India is a subsidiary of the global Akzo Nobel NV and sells premium Dulux and professional coating products. Its high ROE and consistent dividend track record reflect the strength of a multinational parent-backed business.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Indigo_Paints_do\"><\/span><strong>What does Indigo Paints do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Indigo Paints is a fast-growing decorative paint company that expanded from Kerala to become a pan-India mid-market brand. It is known for high-margin differentiated products like floor coatings and metallic finishes and is a relatively newer listing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Sudarshan_Chemical_Industries\"><\/span><strong>What is Sudarshan Chemical Industries?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Sudarshan Chemical manufactures organic and inorganic pigments and effect pigments used by paint companies, plastics processors and cosmetics makers. It supplies both domestic paint companies and global FMCG brands with colorant solutions.<\/p>\n<div class=\"faq-schema\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Discover 5 under the radar paints and coatings stocks in India: Akzo Nobel India Ltd, Shalimar Paints Ltd, Indigo Paints Ltd and more.<\/p>\n","protected":false},"author":36,"featured_media":216310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[3802],"class_list":["post-216311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-news"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["216310"],"_edit_lock":["1787549258:36"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["24"],"rank_math_seo_score":["76"],"rank_math_title":["5 Under the Radar Paints Stocks in India"],"rank_math_description":["Discover 5 under the radar paints stocks: Akzo Nobel, Shalimar, Indigo Paints, Sudarshan and Ultramarine."],"rank_math_focus_keyword":["under the radar paints stocks in India"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"],"_edit_last":["36"],"_ez-toc-disabled":[""],"_ez-toc-insert":[""],"_ez-toc-header-label":[""],"_ez-toc-alignment":["none"],"_ez-toc-heading-levels":["a:0:{}"],"_ez-toc-alttext":[""],"_ez-toc-visibility_hide_by_default":[""],"_ez-toc-hide_counter":[""],"_ez-toc-exclude":[""],"_ez-toc-position-specific":["before"],"stm_select_gm_zoom":[""],"stm_agenda":[""],"stm_host":[""],"stm_select_approved_denied":[""],"stm_multiselect_approved":[""],"stm_multiselect_denied":[""],"stm_date":[""],"stm_time":[""],"stm_timezone":[""],"stm_duration":[""],"stm_password":[""],"stm_waiting_room":[""],"stm_join_before_host":[""],"stm_host_join_start":[""],"stm_start_after_participants":[""],"stm_mute_participants":[""],"stm_enforce_login":[""],"stm_alternative_hosts":[""],"top_bar_custom_style":[""],"top_bar_bg":[""],"wc_top_bar_cart_custom_style":[""],"wc_top_bar_cart_color":[""],"wc_top_bar_cart_icon_color_hover":[""],"wc_top_bar_cart_counter_color":[""],"wc_top_bar_cart_counter_color_hover":[""],"wc_top_bar_cart_counter_bg":[""],"wc_top_bar_cart_counter_bg_hover":[""],"top_bar_wpml_switcher_custom_style":[""],"wpml_switcher_color":[""],"top_bar_wpml_switcher_bg":[""],"top_bar_wpml_switcher_bg_hover":[""],"top_bar_wpml_switcher_color_hover":[""],"top_bar_socials_custom_style":[""],"top_bar_socials_color":[""],"top_bar_socials_color_hover":[""],"top_bar_search_custom_style":[""],"top_bar_search_color":[""],"top_bar_search_icon_color_hover":[""],"top_bar_contact_info_style":[""],"top_bar_contact_info_color":[""],"top_bar_contact_info_link_color":[""],"top_bar_contact_info_link_color_hover":[""],"top_bar_contact_info_select_bg":[""],"top_bar_contact_info_select_color":[""],"top_bar_contact_info_select_drop_bg":[""],"top_bar_contact_info_select_items_bg":[""],"top_bar_contact_info_select_items_color":[""],"top_bar_contact_info_select_items_hover":[""],"header_inverse":["default"],"enable_header_transparent":["off"],"header_nav_custom_style":[""],"header_bg":[""],"header_shadow":[""],"wc_cart_custom_style":[""],"wc_cart_icon_color":[""],"wc_cart_icon_color_hover":[""],"wc_cart_counter_color":[""],"wc_cart_counter_color_hover":[""],"wc_cart_counter_bg":[""],"wc_cart_counter_bg_hover":[""],"header_wpml_switcher_custom_style":[""],"header_wpml_switcher_color":[""],"header_wpml_switcher_color_hover":[""],"header_wpml_switcher_bg":[""],"header_wpml_switcher_bg_hover":[""],"header_socials_custom_style":[""],"header_socials_color":[""],"header_socials_color_hover":[""],"header_search_custom_style":[""],"header_search_icon_color":[""],"header_search_icon_color_hover":[""],"header_contact_info_style":[""],"header_contact_info_color":[""],"header_contact_info_link_color":[""],"header_contact_info_link_color_hover":[""],"header_button_custom_style":[""],"header_button_color":[""],"header_button_color_hover":[""],"header_button_bg":[""],"header_button_bg_hover":[""],"header_nav_menu_customize":[""],"header_nav_menu_link_color":[""],"header_nav_menu_link_color_hover":[""],"header_nav_menu_link_color_active":[""],"header_nav_menu_link_arrow_color":[""],"header_nav_menu_link_arrow_color_hover":[""],"header_nav_menu_level_1_bg":[""],"header_nav_menu_level_1_link_color":[""],"header_nav_menu_level_1_link_color_hover":[""],"header_nav_menu_level_1_link_bg_hover":[""],"header_nav_menu_level_1_link_arrow_color":[""],"header_nav_menu_level_1_link_arrow_color_hover":[""],"header_nav_menu_level_2_bg":[""],"header_nav_menu_level_2_link_color":[""],"header_nav_menu_level_2_link_color_hover":[""],"header_nav_menu_level_2_link_bg_hover":[""],"header_mega_menu_bg":[""],"header_mega_menu_title_color":[""],"header_mega_menu_title_color_hover":[""],"header_mega_menu_description_color":[""],"header_mega_menu_description_link_color":[""],"header_mega_menu_description_link_color_hover":[""],"header_mega_menu_color":[""],"header_mega_menu_color_hover":[""],"header_mega_menu_border_color":[""],"header_mega_menu_icons_color":[""],"header_nav_menu_customize_end":[""],"hfe_enabled_notice":[""],"disable_title_box":["default"],"hfe_disabled":[""],"enable_transparent":["default"],"title_box_title_bg_color":[""],"title_box_bg_custom_image":["default"],"title_box_bg_image":[""],"title_box_bg_position":["default"],"metabox_title_box_bg_position_x":[""],"metabox_title_box_bg_position_y":[""],"metabox_title_box_bg_attachment":["default"],"title_box_bg_size":["default"],"metabox_title_box_bg_size_slider":[""],"title_box_bg_repeat":["default"],"disable_title":["default"],"title_box_title_color":[""],"title_box_title_line_color":[""],"disable_breadcrumbs":["default"],"metabox_title_box_breadcrumbs_color":[""],"metabox_title_box_links_color":[""],"metabox_title_box_links_color_hover":[""],"content_bg_transparent":[""],"show_popup_single":[""],"popups_single":[""],"popups_single_event":[""],"popup_single_event_open_delay":[""],"popup_single_event_showing_in":[""],"popup_single_event_date_from":[""],"popup_single_event_date_to":[""],"popup_single_event_time_from":[""],"popup_single_event_time_to":[""],"popup_single_animation":[""],"popup_single_responsive":[""],"separator_footer_copyright_border_t":[""],"name":[""],"email":[""],"phone":[""],"company":[""],"memberId":[""],"testimonial_position":[""],"testimonial_company":[""],"testimonial_bg_img":[""],"testimonial_video_url":[""],"popups_width":[""],"popups_height":[""],"popups_image_bg":[""],"popups_color_bg":[""],"popups_border_radius":[""],"popups_template":[""],"rank_math_analytic_object_id":["39515"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/08\/under-radar-paints-stocks-india.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/216311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=216311"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/216311\/revisions"}],"predecessor-version":[{"id":216884,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/216311\/revisions\/216884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/216310"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=216311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=216311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=216311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}