According to a senior official of Shalimar Paints, the company has allocated Rs 200 crore for capital expenditure (CAPEX) to enhance its research and development (R&D) capabilities, modernize manufacturing units, and expand its product range. This investment will be made over the current and next year.

India's Shalimar Paints To Finance Rs 200 Crore in Product, R&D, And Manufacture Expansion

The majority of the investment approximately 80-85 per cent, will be utilized to upgrade the company’s warehousing facilities and automate production plants. Additionally, a sum of Rs 10-12 crore will be dedicated to adopting new technologies, including AI, to improve communication and interaction with painters, dealers and customers. The implementation of these initiatives is scheduled for the next 6-8 months.

This strategic investment is part of Shalimar Paints’ ‘Shalimar 2.0’ strategy aimed at transforming the company into a modern, vibrant and technology-driven organization. Despite being a well-known brand for over 120 years, the company has faced challenges in recent years and currently holds less than 1 per cent of the market share. The company is determined to shift its position from being a follower to a leading player in the industry.

Shalimar Paints is undergoing a revamp, transitioning to its 2.0 avatar with a strong focus on research and development. They are expanding their R&D facility in Nashik, increasing space, facilities and manpower, with plans to make it operational by September-October this year.

The brand has been aggressively expanding its product portfolio, launching more than a dozen products in the last 8-10 months, and has several more in the pipeline, especially in the wood coatings segment with a significant launch planned for August-September.

With the new R&D unit, they expect to speed up the product development process. The Indian paints and coatings industry is projected to grow to Rs 1 lakh crore in the next 5 years with an annual CAGR of 10-12%. Shalimar Paints aims to keep up with the industry’s growth rate.

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