SHALPAINTS2024-01-012024-03-31 SHALPAINTS2024-01-012024-03-31 SHALPAINTS2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member SHALPAINTS2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member SHALPAINTS2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 509874 SHALPAINTS NA Shalimar Paints Limited Equity 2023-04-01 2024-03-31 2024-05-17 2024-05-10 INR Crores Yearly 13:00:00 16:40:00 2024-05-17 2024-05-17 true Cash Flow Indirect Declaration of unmodified opinion Single segment Paints 2024-01-01 2024-03-31 Audited Standalone 1442600000.00 26500000.00 1469100000.00 952500000.00 79000000.00 74900000.00 211000000.00 21700000.00 43900000.00 349800000.00 1732800000.00 -263700000.00 0.00 -263700000.00 0.00 0.00 0.00 0.00 -263700000.00 0.00 0.00 0.00 0.00 -263700000.00 1800000.00 -261900000.00 0.00 0.00 167400000.00 2 -3.15 -3.15 0.00 0.00 -3.15 -3.15 Notes : 1. These standalone financial results of Shalimar Paints Limited (the 'Company') for the year ended on 31 March 2024 which have been extracted from the audited standalone financial statements and have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 17 May 2024. The statutory auditors of the Company have expressed an unmodified audit opinion on these standalone 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 figures for the quarter ended 31 March 2024 and 31 March 2023 represents the balancing figures between the audited figures in respect of the full financial year and published year to date reviewed figures upto the third quarter of the years ended 31 March 2024 and 31 March 2023 respectively. 4. The Company is engaged in manufacture and sale of paints. As the Company'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 . 5. During the year ended 31 March 2024, the Nomination and Remuneration Committee of the 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 . These stock options will vest over the period of 4 years and accordingly, the Company has recorded an expense of Rs. 1.91 crores for the year ended 31 March 2024. 6. During the current year ended, on receipt of redemption notice from the debenture holder, the Company has fully repaid the 9% Optionally Convertible Debentures (OCDs) amounting to Rs. 55.00 crores on 22 August 2023. 7. 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 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. Post this allotment, the issued Equity Share Capital comprises of 8,37,11,178 shares of Rs. 2 each. 8. Pursuant to the completion of Open Offer by Hella Infra Market Private Limited ( Hella Infra ) to the eligible shareholders of Company, Hella Infra has become one of the promoters of the Company with share holding of 52.85% w.e.f. 11 March 2024. 9. The previous period/ year numbers have been regrouped/reclassed wherever necessary to conform to the current period/ year presentation. The impact of such regrouping/ reclassification is not material to the standalone financial results. Single segment 2023-04-01 2024-03-31 Audited Standalone 5349100000.00 81700000.00 5430800000.00 3627700000.00 308000000.00 -58100000.00 771100000.00 129600000.00 148200000.00 1241800000.00 6168300000.00 -737500000.00 0.00 -737500000.00 0.00 0.00 0.00 0.00 -737500000.00 0.00 0.00 0.00 0.00 -737500000.00 600000.00 -736900000.00 0.00 0.00 167400000.00 2 3606200000.00 -9.51 9.51 0.00 0.00 -9.51 9.51 Other expenses 349800000.00 Other expenses 1241800000.00 2447100000.00 336700000.00 0.00 0.00 28900000.00 12700000.00 0.00 0.00 58400000.00 30000000.00 16300000.00 104700000.00 132700000.00 3062800000.00 1164800000.00 400000.00 1098500000.00 503000000.00 58300000.00 0.00 500500000.00 2160700000.00 0.00 123900000.00 3449400000.00 0.00 0.00 6512200000.00 167400000.00 3606200000.00 3773600000.00 3773600000.00 203800000.00 0.00 17100000.00 220900000.00 85400000.00 0.00 0.00 0.00 306300000.00 828200000.00 1347400000.00 110200000.00 2285800000.00 63200000.00 83300000.00 0.00 0.00 2432300000.00 0.00 0.00 2738600000.00 6512200000.00 129600000.00 -28900000.00 -23200000.00 0.00 -21800000.00 0.00 330700000.00 0.00 0.00 347700000.00 0.00 16000000.00 0.00 148200000.00 0.00 200000.00 0.00 43100000.00 0.00 -300000.00 0.00 -63500000.00 0.00 0.00 0.00 0.00 36200000.00 400000.00 0.00 1041400000.00 303900000.00 0.00 125700000.00 0.00 1000000.00 0.00 177200000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15700000.00 572000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 500000.00 0.00 0.00 0.00 0.00 80200000.00 0.00 -37300000.00 0.00 -513900000.00 0.00 0.00 1125000000.00 0.00 0.00 0.00 0.00 0.00 333200000.00 146900000.00 0.00 14200000.00 0.00 125700000.00 0.00 -543300000.00 628100000.00 291400000.00 0.00 291400000.00 211600000.00 503000000.00 -1800000.00 -600000.00 0.00 0.00