+
Shalimar Paints looks to invest Rs 200 crore in 2yrs
Paint

Shalimar Paints looks to invest Rs 200 crore in 2yrs

Shalimar Paints, a prominent player in the paints industry, has revealed plans to invest a substantial sum of INR 200 crore in the financial years 2023-24 and 2024-25, as announced by Ashok Gupta, the company's Managing Director and CEO. The majority of this investment will be directed towards the modernization of existing plants, aligning them with industry standards.

Gupta emphasized the company's prudent approach to investment, noting that a well-structured plan has been devised within the INR 200 crore budget. Orders have already been placed, and the execution of these modernization initiatives has commenced.

In the current financial year, Shalimar Paints aims to achieve a growth rate of at least 20-25%. Gupta provided context, stating, "Last financial year, our revenue stood at INR 45 crore. We are targeting a growth rate of 20-22% for this financial year." The paints industry has exhibited steady growth over recent years, with the previous year yielding a remarkable performance, witnessing an overall industry growth of around 14-15%. In contrast, Shalimar Paints outperformed, achieving a remarkable growth rate of almost 30-35% during the same period.

Shalimar Paints' investment plans signify their commitment to staying at the forefront of the industry by enhancing and modernizing their existing infrastructure to meet evolving industry standards and cater to the growing demand for quality paints.

Shalimar Paints, a prominent player in the paints industry, has revealed plans to invest a substantial sum of INR 200 crore in the financial years 2023-24 and 2024-25, as announced by Ashok Gupta, the company's Managing Director and CEO. The majority of this investment will be directed towards the modernization of existing plants, aligning them with industry standards. Gupta emphasized the company's prudent approach to investment, noting that a well-structured plan has been devised within the INR 200 crore budget. Orders have already been placed, and the execution of these modernization initiatives has commenced. In the current financial year, Shalimar Paints aims to achieve a growth rate of at least 20-25%. Gupta provided context, stating, Last financial year, our revenue stood at INR 45 crore. We are targeting a growth rate of 20-22% for this financial year. The paints industry has exhibited steady growth over recent years, with the previous year yielding a remarkable performance, witnessing an overall industry growth of around 14-15%. In contrast, Shalimar Paints outperformed, achieving a remarkable growth rate of almost 30-35% during the same period. Shalimar Paints' investment plans signify their commitment to staying at the forefront of the industry by enhancing and modernizing their existing infrastructure to meet evolving industry standards and cater to the growing demand for quality paints.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code