Shalimar Paints News: After a period of stagnation spanning decades, Shalimar Paints, India’s oldest paint company, is embarking on a determined effort to regain its former prominence. The company is focusing on several key areas, including upgrading plant infrastructure, expanding research and development capabilities, and strengthening its supply chain. These initiatives are expected to drive enhancements in both decorative and industrial product segments. Furthermore, Shalimar Paints has ambitions to tap into international markets.
Ashok Gupta, the Managing Director and CEO of Shalimar Paints, emphasizes the transformation taking place, highlighting the commitment to modernize their manufacturing plants. The initial phase of this revitalization plan involves an investment of Rs 200 crore, slated for completion by 2024-25. Gupta anticipates that modernization and automation will significantly augment production capacity, with an increase from 6,000 to 26,000 kilolitres per month. Presently, the manufacturing facilities are situated in Sikandrabad (Uttar Pradesh), Chennai (Tamil Nadu), and Nashik (Maharashtra). It’s noteworthy that the Shalimar Paints journey commenced in 1902 from Howrah in West Bengal, with a large-scale manufacturing plant established by British entrepreneurs A N Turner and A N Wright. Unfortunately, this original plant was destroyed by fire in 2014.
In the 1990s, Ratan Jindal acquired Shalimar Paints, securing a stake of over 30 percent. Girish Jhunjhunwala, a businessman based in Hong Kong, is another notable promoter with a 10 percent ownership. Adding to this, strategic investor Hella Infra Market, the parent company of Infra.Market, announced a substantial investment of Rs 270 crore, combining equity and debentures. While primarily involved in the building materials sector, Infra.Market is expanding its scope to encompass paints
Hella Infra currently holds a significant stake of more than 24 percent in Shalimar Paints. The company’s ambitious plans for revival coincide with an increasingly competitive paint market. The entry of players like JSW Group, led by Sajjan Jindal (brother of Ratan Jindal), and Grasim’s intentions to establish six manufacturing plants in India by 2025 have added to the competition. Despite this crowded landscape, Gupta relies on Shalimar’s brand recall and unique positioning to carve out a substantial market share.
Gupta reflects on the past, noting that the market was once dominated by four key players—Asian Paints, Nerolac, Berger Paints, and ICI Paints—making it challenging for new entrants to gain traction. However, Shalimar Paints is determined to leverage its strengths and historical significance to make a significant impact in the evolving paint industry. For more further Shalimar Paints News stay tuned on our website.
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