In its Q2 2020-21 report, Shalimar Paints, engaged in the manufacturing and marketing of decorative paints and industrial coatings, has shown cash positive after 14 quarters, with a positive EBITDA at Rs. 4.7 crore about 5% of net revenue. 

 

This growth is attributed to the company’s aggressive cost control strategy and efficient management of overheads during pressing times like COVID-19. 

 

The brand saw a slight dip in its revenue and sales figures to Rs. 77 crore compared to last year’s numbers at Rs. 82 crore mainly due to COVID-19 and subsequent lockdowns. But the business is on a steady revival trajectory and is slated to accelerate this pace to attain stable growth in the following months.

 

Speaking on the second quarter results, Ashok Gupta, Managing Director, Shalimar Paints said, “Although the results were a little muted in the first half due to the phase wise reopening of the economy, our month-on-month results quickly picked up pace. We are expecting the same in the upcoming festive season, as people are likely going to invest in painting their homes, leading to an uptick in the demand of our products. Going forward, we are optimistic of month on month growth in sales as compared to last year.”

 

"These milestones underline Shalimar Paint’s commitment to building and fostering long-standing relations with customers and stakeholders. It also exhibits the brand’s consistent efforts to innovate its existing portfolio of products and deliver the best to its consumers. With a steady revival strategy in place, the brand is upbeat in steering towards a profitable tomorrow," added Gupta.