Shalimar Paints Ltd Share Price

History of Shalimar Paints Ltd

Shalimar Paints Limited, established on December 16, 1902 is engaged in manufacturing and selling of decorative paints and industrial coatings. The Company currently has 3 manufacturing facilities, one each at Chennai, Nashik and Sikandrabad (Uttar Pradesh). It has a wide distribution network, 38 sales depots, and 3 regional distribution centers across all four zones in India. Apart from India, the Company catered to consumers from Nepal, UAE, Bhutan and Seychelles. Courtalds Coatings, UK was the holding Company and it holds majority shareholding through it's subsidiary International Paint Company, UK. It became a private limited company in 1956 and later on in 1961, it was converted into a public limited company. The company acquired its present name in 1963. Courtalds slowly start ...ed disinvesting since 1978 and finally in 1989, it fully disinvested its stake and maintained only its technical and marketing collaboration with the Indian company till 1994. The Courtald's stake was acquired by G Jhunjhunwala, a HongKong based NRI (20%) and the Delhi-based O P Jindal group (42%). The company has three product segments - industrial, marine and architectural paint segments. It also manufactures varnishes, resins, etc. The company has two manufacturing units one at Howrah, West Bengal and the other at Nashik, Maharashtra. 90% of its raw materials are obtained from Kerala Mining and Materials (KMML). The company diversified in 1993 into aviation coatings. It also launched a premium range of wall finisher - Hussain Collections - in the decorative sector. It also entered into a technical collaboration with Salchi, Italy to manufacture solvent borne industrial paints. A joint venture company, Grace Shalimar (P) Ltd, has been formed with W R Grace & Co, to produce 2000 tpa of packaging coatings for which a new plant will be set up at Nashik. In 1999-2000, the company introduced two new products, MELA, an acrylic distemper and XTRA, a premium 100% acrylic exterior finish paint. In 2000-01, the company has entered into a tie-up with Creanova, a world leader in colorants and in 2001-02 the company launched colour tinting system business under the brand name of Color Space. Several new products including Roadcoat,Shaktiman were introduced during 2001-02. The Company launched two new products, No. 1 Silk Emulsion, an economical water thinnable Acrylic coating for interior walls and Superlac soft sheen Satin Enamel for wood, metal and wall surface in 2002-03. The Sikandrabad factory which was acquired in March 2003 became fully operational. During the year 2007-08, Directors had, with a view to diversify into the fast growing real estate sector, formed a separate division i.e. 'Real Estate Division' to carry on the said new line of activities. Subsequently, the Company, decided to hive-off the Real Estate Division to a separate subsidiary company. Accordingly, the Company formed a subsidiary company by the name 'Shalimar Adhunik Nirman Private Limited' and initiated the process of hiving off its Real Estate Division to the said subsidiary. During the year 2008-09, the Hon'ble High Courts at Kolkata and Delhi sanctioned the Scheme of Arrangement between the Company and Shalimar Adhunik Nirman Limited (SANL) and accordingly the Company hived-off its Real Estate Division to SANL, subsidiary of the Company with effect from the appointed date on 31st March, 2008. The Company in 2011-12 launched a premium exterior emulsion under the brand 'Self Clean'. New products like Signature, Superlac Stay Clean, Weather PRO+, G. P. Synthetic Enamel were launched in the decorative paint segment in 2015-16. In the industrial segment, it launched quite a few new products namely Single Pack DT- Primer cum Topcoat, Low Cost Zinc Silicate for Projects, High Build Quick Drying Coal Tar Epoxy, Solvent less Epoxy Costing For Pipe Industries, Quick drying Single pack Paint for Cylinder Industries, Black and Clear Bitumen Varnish and Stoving Paint for Hair Clip. During 2016-17, In the Decorative segment, Company launched new products namely, Zinc Chromate Yellow Green Primer, Super Shaktiman Projects Acrylic Exterior Emulsion, Xtra Tough Premier Acrylic Exterior Emulsion, Superlac Advance Premium Acrylic Interior Emulsion and in decorative packaging segment, Red Oxide Metal Primer, Universal White Primer were launched. In the Industrial Product segment, it launched Solventless Food Grade Epoxy, Quick Drying Alkyd Primer, Phenolic Modified Coating, Heat Resistance Coating and Zinc Phosphate Primer. In FY 2022-23, Company ventured into waterproofing with launch of Zero Damp brand of products which is a state of art fibre reinforced product. In FY 2023-24, Company achieved a significant milestone with the completion of its State-of-the-Art R&D facility at Nashik.