Shalimar Paints Limited , a prominent player in the Indian paint industry, has reported its financial results for the first half of the fiscal year 2026, showing signs of improvement despite ongoing challenges.

Financial Performance

The company reported a consolidated loss of ₹30.53 crores for the six months ended September 30, 2025, marking a significant improvement from the ₹46.62 crores loss recorded in the same period last year. Revenue from operations saw a 6% increase, rising to ₹300.28 crores from ₹284.07 crores in H1 FY25.

Strategic Initiatives

Shalimar Paints has implemented several strategic measures to strengthen its market position and financial stability:

1. Product Innovation: Launched differentiated products in the emulsion category, contributing 10% to sales in Q2.
2. Market Expansion: Appointed 100 new distributors to enhance rural market penetration with affordable product ranges.
3. Dealer Network Growth: Achieved a 20% increase in the active dealer base, with a focus on strengthening machine dealers and increasing emulsion saliency.
4. Cost Optimization: Implemented effective cost control measures across manpower, supply chain, and manufacturing costs.
5. Inventory Management: Improved material availability while reducing total inventory holding by ₹10.00 crores.

Management Commentary

The management of Shalimar Paints expressed optimism about the company's progress, highlighting that the first six months of FY26 have been a period of meaningful advancement. They emphasized the initiatives taken to optimize the financial position and reinforce long-term stability.

Market Performance

Despite challenging market conditions, Shalimar Paints reported a 6% revenue growth in H1, which the company claims outperforms the subdued growth seen in the market and among peers.

Outlook

While the company continues to face challenges, the narrowing losses and strategic initiatives implemented suggest a focus on turnaround and growth. The improvement in EBITDA and margins indicates that the cost optimization efforts are beginning to yield results.

Investors and market observers will likely keep a close watch on Shalimar Paints' performance in the coming quarters to see if the company can sustain this momentum and potentially return to profitability.

Shalimar Paints , a prominent player in the Indian paint industry, has reported its financial results for the first quarter, showcasing a mixed performance with improved revenue but continued losses.

Financial Highlights

• Revenue Growth: Shalimar Paints' consolidated revenue increased to ₹150.00 crore, up from ₹128.00 crore in the same period last year, representing a growth of about 17%.
• Net Loss: The company reported a consolidated net loss of ₹16.70 crore for the quarter, an improvement from the ₹27.00 crore loss in the corresponding quarter of the previous year.
• EBITDA Performance: The EBITDA loss narrowed significantly to ₹7.40 crore from ₹21.10 crore year-over-year, indicating better operational efficiency.

Financial Results Overview

Management Commentary

The Board of Directors of Shalimar Paints convened on August 11 to review and approve the unaudited financial results for the quarter ended June 30. The meeting, which started at 11:20 a.m. and concluded at 1:40 p.m., saw the board approving both standalone and consolidated financial results for the quarter.

Audit Review

Walker Chandiok & Co LLP, the company's statutory auditors, conducted a limited review of the financial results. The auditors stated that based on their review, nothing has come to their attention that causes them to believe that the financial statements are not prepared in accordance with applicable accounting standards and SEBI regulations.

Subsidiary Performance

The consolidated results include the performance of Shalimar Paints' subsidiaries. Notably, two subsidiaries, including IM Inicio Projects Private Limited (formerly known as Eastern Speciality Paints & Coatings Private Limited) and Shalimar Adhunik Nirman Limited, reported a combined net loss of ₹0.12 crore for the quarter.

Conclusion

While Shalimar Paints continues to face challenges, as evidenced by the ongoing losses, the company has shown signs of improvement. The significant revenue growth and reduction in EBITDA and net losses suggest that the company's strategies may be starting to yield positive results. Investors and stakeholders will be watching closely to see if this trend continues in the coming quarters.

The company has made the detailed financial results available on the stock exchange websites (BSE and NSE) as well as on its official website, www.shalimarpaints.com , for further scrutiny by interested parties.