Shalimar Paints Narrows Q1 Loss Despite Revenue Growth
Shalimar Paints' Q1 consolidated revenue increased by 17% to ₹150.00 crore. Net loss reduced to ₹16.70 crore from ₹27.00 crore year-over-year. EBITDA loss narrowed to ₹7.40 crore from ₹21.10 crore. The Board of Directors approved the results on August 11. Statutory auditors conducted a limited review, finding no issues with the financial statements. Two subsidiaries reported a combined net loss of ₹0.12 crore.
Shalimar Paints reported improved Q4 results with revenue growth of 23.61% to ₹1,780 million. EBITDA loss narrowed by 67.41% to ₹73 million, and net loss reduced by 64.15% to ₹95 million compared to the previous year. The company's board has also approved raising up to ₹70 crore through Non-Convertible Debentures.
17Mar 25
Shalimar Paints: 34 Entities Settle Takeover Norms Violation with SEBI
SEBI has reached a settlement with 34 entities, including Urvi Jindal, over alleged violations of takeover norms involving Shalimar Paints Ltd. The case centered on a delayed disclosure of a 1,65,545 equity share acquisition that changed the company's shareholding structure by over 2%. The settlement involved a payment of Rs 3.04 lakh.