Shalimar Paints Limited has successfully concluded its postal ballot process for the reappointment of Ms. Shan Jain as an Independent Director, with shareholders demonstrating overwhelming support for the resolution. The company announced the results on February 09, 2026, following the completion of the remote e-voting process.

Voting Results and Shareholder Participation

The postal ballot resolution received exceptional support from shareholders across all categories. Out of 6,24,70,609 total valid votes cast, 6,24,36,324 votes were in favor of Ms. Shan Jain's reappointment, representing 99.945% approval. Only 34,285 votes were cast against the resolution, accounting for 0.055% of the total votes.

The voting process achieved a participation rate of 74.626% of the company's total voting capital, with 179 shareholders participating in the e-voting process.

E-Voting Process Details

The remote e-voting process was conducted exclusively through electronic means in compliance with the Companies Act, 2013, and SEBI regulations. The voting period commenced on January 08, 2026, at 9:00 AM IST and concluded on February 06, 2026, at 5:00 PM IST through the CDSL e-voting platform at www.evotingindia.com .

Regulatory Compliance and Scrutinizer Report

Mr. Ankush Agarwal, Partner of MAKS & Co. Company Secretaries (COP: 14486), served as the appointed scrutinizer for the postal ballot process. In his report dated February 09, 2026, he confirmed that the entire process was conducted in a fair and transparent manner, adhering to all applicable regulatory requirements including Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations.

The scrutinizer verified that shareholders holding shares as on the cut-off date of January 02, 2026, were entitled to vote on the resolution. The company dispatched the postal ballot notice via email to all eligible shareholders on January 06, 2026, and published advertisements in Financial Express and Jansatta on January 07, 2026.

About the Resolution

The special resolution pertained to the reappointment of Ms. Shan Jain (DIN: 09661574) as an Independent Director of the company. The resolution was classified as a special resolution requiring approval from shareholders as per the provisions of the Companies Act, 2013, and the company's governance framework.

The voting results and scrutinizer's report have been made available on the company's website at www.shalimarpaints.com and on the CDSL e-voting portal at www.evotingindia.com for shareholder reference and regulatory compliance.

Shalimar Paints Limited has announced its unaudited financial results for the third quarter ended December 31, 2025, reporting a standalone net loss of ₹26.62 crore compared to ₹23.98 crore in the corresponding quarter of the previous year. The company's revenue from operations declined by 12.00% to ₹130.40 crore from ₹148.16 crore in Q3FY25.

Financial Performance Overview

The paint manufacturer's quarterly performance reflected challenging market conditions with both revenue contraction and widening losses. The company's total income, including other income, stood at ₹131.23 crore compared to ₹148.99 crore in the same quarter last year.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Shalimar Paints reported a standalone net loss of ₹57.16 crore compared to ₹70.60 crore in the corresponding period of FY25, showing an improvement of 19.03%. Revenue from operations for the nine-month period was ₹415.97 crore, marginally lower than ₹421.23 crore in the previous year.

Exceptional Items Impact

The company reported exceptional expenses of ₹4.60 crore during Q3FY26, primarily related to the implementation of new labour codes by the Government of India. These codes, effective from November 21, 2025, resulted in increased gratuity liability of ₹4.29 crore and compensated absences liability of ₹0.31 crore due to revised wage definitions.

Operational Highlights

Despite the challenging financial performance, the company highlighted several positive operational developments for the nine-month period:

• Topline growth maintained at par with previous year despite pipeline business impact in industrial domain
• New products contributed 5% incremental business
• Improvement in product mix towards high margin products and emulsions
• EBITDA losses reduced to half through operational efficiencies
• Working capital cycle improved by 15 days over the last quarter

Board Meeting and Regulatory Compliance

The Board of Directors meeting was held on February 12, 2026, from 12:20 p.m. to 03:30 p.m., where the unaudited financial results were considered and approved. The results have been uploaded on stock exchange websites and the company's official website at www.shalimarpaints.com , ensuring compliance with SEBI listing regulations.

Consolidated Results

On a consolidated basis, the company reported a net loss of ₹26.65 crore for Q3FY26 compared to ₹24.56 crore in Q3FY25. Consolidated revenue from operations stood at ₹131.33 crore versus ₹148.48 crore in the corresponding quarter of the previous year.