Shalimar Paints Q2 Net Loss Widens To ₹32.55 Crore, Revenue Declines Year-On-Year

Mumbai: Shalimar Paints Limited on Wednesday reported a consolidated net loss of ₹32.55 crore for the second quarter of financial year 2026-27, ended 30 September 2026. This represents a significant increase in losses compared to the ₹14.14 crore consolidated net loss posted in the corresponding quarter of the previous fiscal year.

Revenue from Operations

The company's consolidated revenue from operations for the quarter stood at ₹115.67 crore, a decrease from ₹133.81 crore recorded in the quarter ended 30 September 2025.

Total Income and Expenses

Shalimar Paints' total consolidated income for the reporting period was ₹116.44 crore, down from ₹137.12 crore in the year-ago quarter. Total consolidated expenses also saw a rise, reaching ₹148.99 crore compared to ₹151.26 crore in the same period last year.

Earnings Per Share

The consolidated basic and diluted loss per share for the quarter ended 30 September 2026 was ₹3.89, worsening from a loss of ₹1.69 per share in the corresponding quarter of the previous fiscal year.

Asset Reclassification

During the quarter, the group classified certain land and buildings as held for sale, including properties in Howrah (carrying amount of ₹73.43 crore) and Gurugram (carrying amount of ₹27.13 crore). A definitive agreement for the sale of the Gurugram property was executed, and transfer formalities are in progress.

Performance Highlights

Shalimar Paints reported an increase in decorative paints' contribution to the business mix by 5 percentage points. The company also implemented overhead rationalisation measures and saw an improvement in Average Selling Price (ASP) by 18% in decorative paints and 13% in industrial paints year-on-year. Collection efficiency improved, leading to a 13% reduction in debtors.

Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes.