Shalimar Paints Limited has informed the Exchange regarding Board meeting held on February 12, 2026.
SHALPAINTS · price
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On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and in line with 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 reported standalone revenue of ₹130.40 crore for Q3 FY26, down from ₹148.16 crore in Q3 FY25. Nine-month revenue came in at ₹415.97 crore vs ₹421.23 crore last year (marginal decline). The company posted a Q3 net loss of ₹26.62 crore and a 9-month loss of ₹57.16 crore, narrower than ₹70.60 crore loss in the prior year period. An exceptional charge of ₹4.60 crore was booked due to one-time impact of new Labour Codes (gratuity and leave encashment). The consolidated results were restated following acquisition of painting services business from ultimate holding company Hella Infra Market Limited via subsidiary IM Inicio Projects. Auditor Walker Chandiok & Co LLP issued an unmodified limited review report on both standalone and consolidated results.
Losses are shrinking meaningfully (9-month loss down ~19% YoY and EBITDA losses reportedly halved), but the company remains in the red with continued pressure on the industrial pipeline business. Shareholders should note the related-party acquisition from the promoter group and the restated historical numbers, which slightly inflate prior period losses. Near-term sentiment may stay cautious until the company returns to profitability.