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Markets :: Specialty Chemicals :: Paints and Coatings
Shalimar Paints targets doubling of revenues under new CEO
3:56 AM MDT | August 12, 2013 | Natasha Alperowicz
Shalimar Paints (Mumbai), India’s oldest paints & coatings company, today announced plans to double revenues within the next 3 years, under recently appointed managing director and CEO, Sameer Nagpal. The company plans to grow at 3-4 times the market rate, he says. Shalimar reported revenues of 5.9 billion Indian rupee ($97.4 million), in 2012-13, 12% up on 2011-12. Profit after tax declined 24% to Rs110 million, however. Shalimar has 3 manufacturing units and is present in the decorative and industrial segments. The facilities are located at...
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