Shalimar Paints Ltd - SHALIMAR PAINTS Share Price

Summary

Shalimar Paints Ltd. established in 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, 32 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 its 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 started 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 Courtalds 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... Read More