Shalimar Paints Limited has informed the Exchange regarding Resignation of Mr. Venugopal Chetlur (DIN: 08686707) as Executive Director of the Company w.e.f. March 04, 2026.
SHALPAINTS · price
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On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.4 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shalimar Paints has informed the exchanges that Mr. Venugopal Chetlur (DIN: 08686707) has stepped down as Whole-time Director of the company, effective from the close of business hours on March 4, 2026. He cited personal reasons for the resignation and confirmed there are no other material reasons behind his exit from the board. Importantly, he will continue to serve the company in the role of Chief Operating Officer (COO), overseeing operational management. The disclosure was made under SEBI Listing Regulations, and the company is in the process of filing the required intimations with the Registrar of Companies and stock exchanges.
This is an internal role transition rather than a full management exit — Mr. Chetlur remains with the company as COO, so day-to-day operations should see continuity. For shareholders, the change is largely administrative and unlikely to have a material impact on the stock, though investors may want to watch for any further board-level changes in the coming weeks.