SHALPAINTSNSE16 November 2021

Shalimar Paints Limited has informed the Exchange about Investor Presentation

Shalimar Paints Limited

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SHALIMAR PAINTS

November 16, 2021

BSE Limited

National Stock Exchange of India Ltd

Corporate Relationship Department,

Exchange Plaza, 5h Floor,

1" Floor, New Trading Ring,

Rotunda Building, P.J. Towers,

Plot No. C/1, G- Block Bandra Kurla Complex, Bandra {E),

Dalal Street, Fort, Mumbai - 400 001

Mumbai — 400051

Reference Scrip Code- NSE-SHALPAINTS, BSE-509874

Subject: Intimation of Investor’s Presentation

Dear Sir/Madam,

Please find attached the Investor’s Presentation for the quarter and half year ended September 30, 2021. The same is also being uploaded on the website of the Company www.shalimarpaints.com .

This is for your information and records.

Thanking you

For Shalimar Paints Limited

SHALIMAR

| _ |

Shalimar Paints Ltd. Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gurugram - 122001, Ha Regd. Office: Stainless Centre, 4” Floor, Plot No. 50, Sector 32, Coegaa- an Haryana. Call: +91 124 461.6600 Fax: +91 124 461 6659 Toll Free: 1800-103-6509 Email Id: askusf@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

Shalimar Paints Limited

Investor Presentation

November 2021

Safe Harbour

SHATIMAR

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shalimar Paints Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company

makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the Presentation are not to scale. All data, information and maps are provided “as is" without warranty or any representation of accuracy, timeliness or completeness.

Company Overview

SHPANTS

100-Year-Young Brand: Renowned for High product quality

India’s iconic structures continue to use Shalimar Paints

Sper

troy fd the

ee aaeas avis

ST Colors we design... Define Kolkata!

: if $

-= = = Q

India’s Oldest Brand

Adding Shades to India’s Pride For Years...

eee

eeaaye art

UNE Sry You know 50 shades of grey... We added one more!

eS e

ee aS Re ORL DI Lending hues to India’s Biggest Football Turf!

Production Per annum

‘oh:

inde

ire

oor

Manufacturing facilities

Depots

O€

‘©

‘

Decorative & Industrial paints

Bon A

Employee strength

a) R&D centers for paint

innovations

Journey so far

SHPANTS

Shalimar Paints Colour & Varnish Co. incorporated in India

P. Johnson bought control, became part of Red Hand Composition

Became a public limited company on 27th May

Name changed to Shalimar Paints Ltd on 18th Sep

Acquires the American Paints unit in Sikandrabad near Delhi

Nasik Plant started

Sold to Jhunjhnuwalas & O.P. Jindal Group for jointly Managing it

International Paints W

acquires US-based Red Hand Composition

2003

(#2)

(“900 ) NU?

1964

Enters into technical collaboration with KCI, Korea for pre-coated metal coatings

i Pl

ennai started

Plant

Nasik Plant Re- instatement started

Cash Profit generated for FY21

2008

(0)

(sore ) NW”

2020

Our Product Offerings

SHALIMAR PAINTS

Decorative Paints

Industrial Paints

An extensive range of decorative and protective paint products for interior and exterior segments

Our portfolio spans across product categories and price points catering to a wide variety of consumers

Eco friendly emulsion products certified by Griha Council

Pioneers in Industrial coatings - Introduced notable firsts in high performance coatings such as high-build zinc coatings, radiation resistant coatings for nuclear power plants, polyurethane paint for fighter aircraft and railway coaches

One of the largest Indian players in high-performance Protective Coatings

Significant presence in General Industrial (Product Finish) and Packaging coatings

Low VOC products that is certified by National Test House (NTH)

paints that give

Decorative Paints: Strategy Going Ahead

SHPANTS

Focus on areas having significant presence

ire)

Focus on smaller Tier 3 & 4 towns and rural area

Premium emulsion sales scaling

Expert Program

Increase in no. of Painters

;

)

Progress over last a year

Cost Reduction: * Cost saving due to optimization of water & solvent-

based paints

v New Product Development:

* Newer products developed & formulations released to

plants

¥ Vendor Development:

* Newer Raw material evaluated and approved

als

Service improvement- specially supply

Apr-19

Mar-20

Mar-21

Quality Upgradation: * Quality of the formulations were improved

Industrial Paints: Strategy Going Ahead

& SHALIMAR

PAINTS

From Zonal Business structure to Vertical business structure alignment

Create opportunities for growth of Team Leaders to take additional responsibilities

Each Vertical defined with visible Key Result Areas which include:

Customer Retention with defined Value proposition

Gain market share across various

verticals

Promoting SPL as a Service provider rather than only a paint vendor

Strong focus on Margins

Focus on new Verticals like Dealers, PEB/ OEM and Packaging

Upskilling the talent pool by proper training and recruitment of skilled people from relevant industries

To work on product gaps in each Vertical. Objective would be to viz:

Complete the product portfolio for Oil and Gas and regain lost ground

Focus efforts on new age technology to reduce / mitigate corrosion like Ceramic coatings, Graphene based coatings

Market Expansion

N O N

Customer Expansion

Product Expansion

Brand Expansion

Historical Financial Performance

SHATIMAR

Steady Revenue growthin boththe segmentsin this period

Unfortunate fire incident at our plants led to loss of capacity | Corrective actions initiated led to Business

eventually resulting in declining revenues

revival until Covid-19 disruptions

Mar-14 Fire rei incident at Howarh Plant

603

578

Nov-16 Fire

incident at Nasik Plant

' evenue Impacte due to Covid-19

C+20%>

Pandemi an

344

326

FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

| Supply Side Constraints

= \ f

Ki<-$

| = Supply Chain Disruptions

| Inadequate Product Portfolio

S\N.

QRQ Intermittent Product Supply

to Channel partners

Impact on the entire value chain - leading to operational and financial underperformance during the period

Improved supply chain management

SHALIMAR PAINTS

o Used simple forecasting model to plan to

produce finished goods

Challenges faced

Distribution done through conventional method

High Supply Chain management cost

o Poor Order Management

Dealing with multiple service producer thus overlapping and higher cost

o Scope to improve Dispatch efficiency

o Inefficient Delivery system

Actions

taken

Higher inventory days

Shifted to replenishment model

Identifying the reductant products and adjusting/discontinuing the loss making product

Redesigned distribution network

Finished good inventory reduced by 40%- 45%

Change in Production & Sales model along with Cost optimization strategies helped reduce supply chain management cost

Improved product quality along with the process improvement

Deployed owned /fixed vehicles

o Stocks accuracy

Batch Management

Going ahead

Liquidate non-moving Finished Goods

Reduce MTO Stocks TAT

Working towards reducing supply chain management cost further through Vertical Space utilization

In-transit damages to be controlled further

o More Own / Fixed Vehicles

o Expand Footprints

o E_Samvaad (e_POD’s)

Positive outcome on financial performance

& SHALIMAR

PAINTS

n o 7) =} o o a aa) a o a » ©

. D U O y s

t u o a

86.3

57.0

FY18

FY19

96.7

62.5

FY20

FY21

1 i

1 1 1 I

1 i

Cost Optimization Strategies

v¥

Improve Supply / RM Chain Management

Improve the Product Supply to Channel partners

Increase efficiencies at Depots

Reduce overall company related costs

1 1 1 1 ' 1 A 1

3.6

1 1 1 1 1

1 1

FY21

| 1 -23.8

1 1

1 1 I

1 1

I 1 1 ! 1

-61.7 FY19

-33.9

FY20

56.2

-109.2 FY19

I 1 1

FY20

FY21

-34.1

FY18

-67.4

FY18

Value Creation

¥ Volume Growth in Decorative + Industrial Segments

Lead to Improved Operating Efficiencies

Increase dealer network and number of depots across the

country

Optimizing dealer margins over a period of time

Improving Efficiencies

Lowering Working Capital requirements and improving

profitability

! 1

1 1 1 I

1 1 1 1 I 1

1 1 1 1 1

1 i

1 1

1 I Ll

1 1

; '

360° growth strategy: started yielding results

SHALIMAR

Operating Profit Turns Positive

Improving Operating Efficiencies

EBITDA (Rs. Crs)

-33.9

FY20

FY21

Other Exp. (% to Revenue)

28.1%

19.2%

FY20

FY21

Reduction in Working Capital requirements

Healthy Operating Cashflow

Working Capital (No. of days)

FY20

FY21

Cashflow from Operating activities (Rs. Crs)

15.8

-9.3

FY20

FY21

Strategy Going Ahead — Product Diversification

SHALIMAR PAINTS

“Launching of newer products as per the market demand & continuously improving the serviceability”

Seal-O-Prime

Shalimar Alkali Block

Exterior Wall Primer

Pearl Lustre

Dai We Kolired Weel al

Carbonation Coating

Specially formulated premium quality acrylic primer with superior alkali, damp and efflorescence resistance for application on exterior and interior surfaces. special consists polymer which binds with the surface seepage giving resistance

better

water

Shalimar Alkali Block Exterior Wall Primer is a water diluteable exterior primer based on specially designed acrylic emulsion suitable for exterior and walls. It gives superior alkali exterior efflorescence resistance to masonry surfaces

It a Lustre Dana Finish Interior Synthetic Enamel Solvent based paint. for This applications masonry, concrete, wooden & metal substrates to get the designer Dana finish.

designed on

essentially

interior

water

Xtra Tough Anti-Carbonation coating is based, 100% acrylic, exterior coating, offering protection against carbon dioxide diffusion to your concrete structures. It has been formulated to protect and decorate concrete and masonry surfaces

It has excellent hiding, whiteness & brightness. It enhances the durability of the top coat

It gives smooth, silky, stain resistant, washable, durable, anti yellowing & tough film

micro-porous structure of the coating acts as a barrier to Water and Carbon Dioxide but allows passing of water vapour from the the environment and becomes breathable along with the substrate

substrate

Strategy Going Ahead — Business Diversification

& SHALIMAR

PAINTS

“Business Diversification - Exploring the possibility of entering into Sanitaryware category”

Launch of a pilot project In Himachal & Chandigarh

Feasibility & scope of the project to be evaluated in the coming Financial year Le., FY22 & will then decide on national level expansion

Will have a comprehensive range in Bath Fittings & Accessories

Portfolio to add on to the existing range of products being offered to the distribution channel; to aid in improving ROI

Profit & Loss Statement Q2-FY22

SH PAINTS

Revenue from Operations

Cost of Materials Consumed Purchase of Traded Goods

Changes in Inventories of Finished Goods and Work in Progress

Gross Profit GP %

Employee Benefits Expense Other Expenses

EBITDA Other Income

Depreciation and Amortisation Expense EBIT

Finance Costs Exceptional Items

PBT Total Tax Expense

’

EPS

ean

COCCI + Revenue:

90.9

76.8

65.2

o Company has reported strong growth in the revenue on the back of good demand

63.0 5.2

2.3

43.0 5.8

1.3

42.8 3.4

3.1

20.4 22.4%

26.8 34.8%

15.8 24.3%

10.8 17.4

“78 0.1

3.5 -11.2

5.7 0.0

-16.8 0.0

ae -31

8.1 14.2

4.5 0.1

3.3 13

4.6 0.0

-3.3 0.3

Seb) -0.7

10.7 14.0

“8.9 0.0

3.3 -12.2

4.8 25

-19.4 0.0

eae -3.6

from both industrial and decorative segments during the quarter

o Contribution from decorative segments has increased compared to same period last

year Festive season augured well for the company resulting into sales volume growth of 29% compared to the last quarter and did similar level of volumes compared to same period last year

o During the quarter, the Company has taken a price hike of ~40% compared to the last quarter and ~20% compared to same period last year to partially offset the increase in the raw material prices

future pricing strategy

e Raw material cost:

Over the last few quarters, raw material prices have seen on an increasing trend, which has contracted the Gross profit impacting the overall profitability of the company

The prices of key raw materials have increased by more than 50% on the back of steep inflationary trend and sharp increase in commodity prices across the globe

The company was able to absorb the increased cost by passing on the cost to the consumers through increase in average selling prices. However, due to competitive intensity need to absorb few costs internally impacting the margins of the company

o Company is continuously working on improving its product mix within the segments, which will eventually help to reduce the impact of increase in raw material costs on the company’s

profitability

Other Expenditure:

Freight costs continue to stay extremely high due to increase in diesel prices and inflationary trend

Balance Sheet Statement

SHALIMAR PAINTS

Balance Sheet - ASSETS

Property, Plant and Equipment

Right of Use Assets

Capital Work-in-progress

Intangible Assets

Financial Assets

(i) Loans

(ii) Other Financial Assets

Deferred Tax Assets (Net)

Other Non Current Assets

Total Non-Current Assets

Inventories

Financial Assets

(i) Investments

(ii) Trade Receivable

(iii) Cash and Cash Equivalents

(iv) Other Bank Balances

(v) Other Financial Assets

Current Tax Assets (Net)

Other Current Assets

Total Current Assets

TOTAL ASSETS

Sep-21

273.3

1.4

0.2

4.2

1.6

0.0

19.7

0.1

300.4

83.8

67.0

1.7

6.7

4.8

3.1

14.2

181.3

481.7

Balance Sheet - EQUITY & LIABILITIES

Sep-21

278.4

Equity Share Capital

0.3

0.4

4.6

1.5

0.1

19.8

0.2

305.2

88.8

77,7

2.7

5.0

3.1

16.0

197.7

502.9

Other Equity

Total Equity

Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities

(iii) Other Financial Liabilities

Provisions

Deferred Tax Liabilities (Net)

Other Non-Current Liabilities

Total Non-Current Liabilities

Financial Liabilities

(i) Borrowings

(ii) Trade payables

(iii) Other Financial Liabilities

Provisions

Other Current Liabilities

Total Current Liabilities

TOTALEQUITY & LIABILITIES

10.9

176.0

186.9

32.2

0.9

0.6

0.0

40.1

118.9

96.6

29.4

4.7

5.1

254.7

481.7

10.9

212.2

223.1

24.1

0.0

6.1

0.0

30.5

99.6

111.0

28.7

4.7

5.4

249.3

502.9

Cashflow Statement

Cash Flow Statement

Cash Flow from Operating Activities

Profit before Tax

Adjustment for Non-Operating Items

Operating Profit before Working Capital Changes

Changes in Working Capital

Cash Generated from Operations

Less: Direct Taxes paid

Net Cash from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Net increase/ (decrease) in Cash & Cash equivalent

Cash & Cash Equivalents at the beginning of the period

Cash & Cash equivalents at the end of the period

SHALIMAR PAINTS

(36.3)

(17.1)

(19.1)

4.9

(14.3)

(0.1)

(14.3)

(3.8)

17.1

(1.0)

2.7

1.7

(18.2)

(15.6)

(2.6)

0.5

(2.2)

(0.1)

(2.3)

(4.4)

4.2

(2.5)

2.8

0.3

Business Segment Performance

SHALIMAR PAINTS

Decorative Paints

Industrial Paints

Revenues’ (Rs. Crs.)

Revenues. (Rs. Crs.)

300

215

206

246

237

138

111

130

119

438

314

317

376

356

FY17s-

FY18.—sFY19°—s#FY20.~—S#FYY21

FY17

FY18

FY19

FY20

FY21

FY17

FY18

FY19

FY20

FY21

Volumes (in KL ‘000)

30.5

30.2

31.1

10.5

23.7

20.8

8.7

9.6

41.0

39.8

39.4

32.4

30.0

FY17s-

FY18.—sFY19°—s#FY20.~—S#FYY21

FY17

FY18

FY19

FY20

FY21

FY17

FY18

FY19

FY20

FY21

*Gross Figures

————

Historical Profit & Loss Statement

SH NTGAR

Revenue from Operations

Cost of Materials Consumed

Purchase of Traded Goods

Changes in Inventories of Finished Goods and Work in Progress

Gross Profit

GP %

Employee Benefits Expense

Other Expenses

EBITDA

EBITDA %

Other Income

Depreciation and Amortisation Expense

EBIT

Finance Costs

Exceptional Items

PBT

Total Tax Expense

Profit for the year

PAT %

EPS

325.6

198.4

21.9

102.9

31.6%

36.7

62.5

3.6

1.1%

7.2

13.3

-2.5

19.3

-2.0

-23.8

26.1

-49.9

-15.3%

-9.18

343.9

243.5

0.0

-11.2

111.6

32.4%

48.7

96.7

-33.9

-9.8%

1.4

10.9

-43.3

19.9

7.0

-56.2

-18.0

-38.2

-11.1%

-7.03

287.6

213.2

0.0

7.3

67.1

23.3%

42.0

86.8

-61.7

271.2

193.1

0.0

15.8

62.3

23.0%

39.4

57.0

-34.1

-21.5%

-12.6%

2.0

8.8

-68.5

25.1

-15.7

-109.2

-27.4

-81.8

-28.4%

-15.24

0.6

7.9

-41.3

26.0

-67.4

-21.8

-45.6

-16.8%

-24.04

349.8

208.5

0.0

11.0

130.3

37.3%

35.3

81.5

13.5

3.9%

2.0

8.1

22.6

-15.2

-5.5

-9.7

-2.8%

-5.12

Balance Sheet (Assets)

ores

Property, Plant and Equipment

Right of Use Assets

Capital Work-in-progress

Intangible Assets

Financial Assets

(i) Loans

(ii) Other Financial Assets

Deferred Tax Assets (Net)

Other Non Current Assets

Total Non-Current Assets

Inventories

Financial Assets

(i) Investments

(ii) Trade Receivable

(iii) Cash and Cash Equivalents

(iv) Other Bank Balances

(v) Other Financial Assets

Current Tax Assets (Net)

Other Current Assets

Total Current Assets

TOTAL ASSETS

278.4

288.3

0.3

4.6

1.5

0.1

19.8

0.2

305.2

88.8

77.7

2.7

5.0

4.5

3.1

16.0

197.7

502.9

0.8

0.1

5.5

1.7

0.0

45.9

0.2

342.5

86.6

715

2.8

1.8

8.5

2.9

19.5

193.6

536.1

245.7

0.0

23.6

6.3

0.3

0.0

275.9

714

99.0

91.0

0.0

42.8

0.0

11.4

315.6

591.5

249.6

0.0

0.7

2.3

0.4

0.0

253.0

74.0

105.8

19.2

0.0

39.6

0.0

27.6

266.2

519.2

221.7

0.0

13.74

9.7

0.2

0.0

245.4

92.6

2.9

124.7

11.8

0.0

43.3

0.0

39.2

314.5

Bobo)

Balance Sheet (Equity & Liabilities)

SHPANTS

Equity Share Capital

Other Equity

Total Equity

Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities

(iii) Other Financial Liabilities

Provisions

Deferred Tax Liabilities (Net)

Other Non-Current Liabilities

Total Non-Current Liabilities

Financial Liabilities

i) Borrowings g

ii) Trade payables (ii)

pay:

(iii) Other Financial Liabilities

Provisions

Other Current Liabilities

Total Current Liabilities

TOTAL EQUITY & LIABILITIES

10.9

212.2

223.1

24.1

0.0

0.4

6.1

0.0

30.5

99.6

111.0

28.7

4.7

5.4

249.3

502.9

10.9

262.0

272.9

18.2

0.9

1.4

6.1

0.0

26.7

100.7

96.1

30.2

4.5

5.1

236.5

536.1

11.0

294.3

305.3

18.1

0.0

6.0

-28.0

2.6

-1.3

126.8

97.6

0.0

29.9

33.3

287.6

591.5

134.0

138.1

24.9

0.0

6.7

-0.4

0.2

31.5

150.0

139.5

0.0

27.2

32.8

349.6

519.2

179.7

183.8

23.7

0.0

6.8

21.5

0.3

52.2

137.1

129.1

0.0

26.6

31.0

323.8

559.9

Cashflow Statement

Cash Flow Statement

Cash Flow from Operating Activities

SH NTGAR

Profit before Tax

(23.8)

(56.16)

(109.18)

(67.37)

(15.21)

Adjustment for Non-Operating Items

Operating Profit before Working Capital Changes

Changes in Working Capital

Cash Generated from Operations

Less: Direct Taxes paid

Net Cash from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Net increase/ (decrease) in Cash & Cash equivalent

Cash & Cash Equivalents at the beginning of the period

Cash & Cash equivalents at the end of the period

32.2

8.5

7.5

15.9

(0.2)

15.8

(6.4)

(9.5)

(0.2)

2.8

2.7

56.6

0.4

(9.6)

(9.2)

(0.1)

(9.3)

(27.9)

(45.8)

(83.0)

85.8

2.8

72.6

(36.6)

(57.4)

(93.9)

(0.1)

(94.0)

(33.7)

197.9

70.2

15.6

85.8

33.7

(33.7)

69.2

35.5

0.4

35.8

(10.5)

(17.9)

8.1

15.6

30.9

15.6

18.8

34.4

(0.1)

34.4

(16.0)

(18.9)

(0.5)

8.7

8.2

Balance Sheet Strength

SHALIMAR PAINTS

Borrowings & Cash Balance

Debt to Equity

Net Debt to Equity

Borrowings [J Cash & Cash Equivalents

161

175

145

1.3

0.9

= |

0.5

0.8

0.4

0.2

Mar-17.

Mar-18

Mar-19

Mar-20

= Mar-21

Mar-17_

Mar-18 = =Mar-19 = -Mar-20

) Mar-21

Mar-17

Mar-18

=Mar-19

Mar-20 | Mar-21

Working Capital (in Days)

Inventory [jj Debtors Jj Creditors

Working Capital Days

Mar-17

Mar-19

Mar-20

Mar-21

Brand Campaigning Initiatives

SHPANTS

Shalimar has carried out various marketing campaigns from time to time to capture greater mind share of customers and generate pull effect for the brand

Lead 4 YY

PAINTS SHALIMAR

HAR RANG \. KHOOBSURAT

PHOTOGRAPHY CONTEST

Do you have a story to tell? Show us the world through your lens.

Contest starts 2nd August, 2019 onwards

5 winners will receive prizes worth INR 10,000 each

7 winners will receive prizes worth INR 5,000 each

JURY

‘J

ANKIT KUMAR

SAMAR KHAN MALVIKA RALLAN DOODLER FASHIONINFLUENCER

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CSR Initiatives

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Launched Kahaani Project

* Campaign aimed at beautifying and uplifting the village of Tauli Bhud located in Dehradun, Uttarakhand

* Empowered over 300 people and

offered livelihood generation to 24 villagers

* Through this one-of-its-kind

campaign, the language, traditions and values of the people of Tauli Bhud will now live forever, vibrantly painted on the village walls

AW CEtaes

More than 8000sq.ft. painted

Support from 15 National &

4 International organisations

Artists from 7 different

countries

322+ Lives impacted

Infinite smiles & memories

SHALIMAR PAINTS

P KGHOQNI

We are back with a new

20th Feb to 26th Feb, 2049 @ Tauli Bhud, Dehradun

CSR Initiatives

SHALIMAR PAINTS

RANG BADLAAY KE

3000+ homes painted 1000+ graffiti’s 2000+ volunteers from 80+ colleges 30+ corporates and citizens from 20+ countries

countless smiles and endless memories...

Thank You

Company :

Investor Relations Advisors:

Shalimar Paints Limited

CIN: L24222HR1902PLC065611

Mr. Mohit Kumar Donter — Chief Financial Officer

mohit.donter@shalimarpaints.com

www.shalimarpaints.com

orient capital

Orient Capital (a division of Link Group)

Ms. Neha Shroff:

+91 77380 73466

neha.shroff@linkintime.co.in

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