Shalimar Paints on Monday announced its financial results for Q2 2019-20 and said it has sustained its recent growth trajectory, registering an increase of 35% in sales volumes and a 14% YoY growth in revenues to reach INR 82.08 crore.
The company has also achieved significant operational improvement during the quarter. Profit Before Depreciation, Interest, and Tax (PBDIT) registered positive against (-) INR 6.29 crore in the corresponding quarter of FY 18-19.
The North region has been the major growth market as well as the most active market for Shalimar Paints with a 45% contribution to its business, followed by East with 24%, South with 18% and West with 14%.
Vice Chairman of Shalimar Paints Ashok Gupta said he was delighted to achieve the improved Q2 results for 2019-20.
“We are extremely delighted to achieve positive financial results for Q2 2019-20. The successful commencement of our Nashik plant earlier this year further strengthened our distribution with an impressive production output of 400 KL in September month alone. In fact, the quality of output was widely recognized and appreciated, especially in the West zone. Going forward, we will continue to stay at the forefront of innovation and further aim to achieve excellence across all facets of our operations,” he said.
(With input from agencies)