SHALPAINTS2023-10-012023-12-31 SHALPAINTS2023-10-012023-12-31 SHALPAINTS2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member SHALPAINTS2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member SHALPAINTS2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 509874 SHALPAINTS NA Shalimar Paints Limited Equity 2023-04-01 2024-03-31 2024-02-09 2024-02-02 INR Crores Third quarter 12:30:00 14:50:00 2024-02-09 2024-02-09 Not applicable Single segment Paints 2023-10-01 2023-12-31 Unaudited Consolidated 1458800000.00 16000000.00 1474800000.00 1018400000.00 75400000.00 -88100000.00 193500000.00 24900000.00 36900000.00 329200000.00 1590200000.00 -115400000.00 0.00 -115400000.00 0.00 0.00 0.00 0.00 -115400000.00 0.00 0.00 0.00 0.00 -115400000.00 2600000.00 -112800000.00 0.00 0.00 167400000.00 2 -1.40 -1.40 0.00 0.00 -1.40 -1.40 * Amounts below the rounding off norms adopted by the Company are presented as 0 See accompanying notes to the consolidated financial results Notes : 1. These consolidated financial results of Shalimar Paints Limited (the 'Holding Company') for the quarter and nine months ended on 31 December 2023 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 09 February 2024. The statutory auditors of the Company have conducted a limited review of these consolidated financial results. 2. The above results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') notified under section 133 of the Companies Act, 2013, as amended and read with relevant rules thereunder and in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 3. The Group is engaged in manufacture and sale of paints. As the Group's business activity falls within a single business segment viz. 'Paints' and the sales are primarily in the domestic market, accordingly there is no separate reportable segments as per Ind AS 108, Operating Segments . 4. During the nine months period ended 31 December 2023, on receipt of redemption notice from the debenture holder, the Holding Company has fully repaid the 9% Optionally Convertible Debentures (OCDs) amounting to Rs. 55.00 crores on 22 August 2023. 5. During the nine months ended 31 December 2023, the Nomination and Remuneration Committee of the Holding Company at its meeting held on 06 April 2023 had granted 19,66,566 stock options to its eligible employees under the Shalimar Paints Limited Employees Stock Option Scheme 2022. The stock options will vest over the period of 4 years and accordingly, the Holding Company has recorded an expense of Rs. 1.54 crore during the period ended 31 December 2023. 6. On 11 October 2023, in accordance with earlier approval of shareholders and following exercise of the option on payment of the balance 75% amounting to Rs. 112.50 crores on warrants, the Holding Company issued and allotted to Hella Infra Market Private Limited, Virtuous Tradecorp Private Limited and JSL Limited 1,14,94,252 equity shares of Rs. 2 each fully paid-up at a premium of Rs. 128.50 per equity share in the ratio of one equity share for each warrant. After this allotment, the issued Equity Share Capital comprises of 8,37,11,178 shares of Rs. 2 each. 7. Previous period/ year figures have been regrouped/ reclassified, wherever necessary, to conform to the current period's classification. Single segment 2023-04-01 2023-12-31 Unaudited Consolidated 3906500000.00 54800000.00 3961300000.00 2675200000.00 229000000.00 -133000000.00 556700000.00 107900000.00 104400000.00 895400000.00 4435600000.00 -474300000.00 0.00 -474300000.00 0.00 0.00 0.00 0.00 -474300000.00 0.00 0.00 0.00 0.00 -474300000.00 -1200000.00 -475500000.00 0.00 0.00 167400000.00 2 -6.28 -6.28 0.00 0.00 -6.28 -6.28 Other Expenses 329200000.00 Other Expenses 895400000.00 -2600000.00 1200000.00 0.00 0.00