Moneycontrol
Last Updated : May 31, 2016 12:38 PM IST | Source: Moneycontrol.com

Shalimar Paints Q4 net profit at Rs 4 cr, sales rise 8%

For the FY16, the company achieved annual net sales of Rs 451.05 crores against Rs 481.04 crores in the previous year.

 
 
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Shalimar Paints announced its annual and Q4 results for FY 2015-16.
 
For the Q4 of FY16, Shalimar Paints achieved net sale of Rs 122.96 crore, registering a growth of 8.26 percent over same quarter of the previous year. Net profit was Rs 4.09 crore against net loss of Rs 3.26 crore in same quarter of the previous year.

For the FY16, the company achieved annual net sales of Rs 451.05 crore against Rs 481.04 crore in the previous year. The revenue dropped due to non-supply from the non-operational Howrah plant. The company registered net profit of Rs 5.28 crore for FY 2015-16 against net loss of Rs 10.59 crore in the previous year.

Surender Bhatia, Chief Executive Officer, Shalimar Paints said “the company has achieved revenue growth in Q4 and has continued the growth pattern of last two quarters. We will continue to take measures to increase revenue and profits in the subsequent financial years too by focusing on customer centric approach and robust channel management”.

Bhatia, also added that “various new products launched in the year 2015-16 will further help us to grow the revenue and profits in the next financial year. He further added that the capacity expansion projects initiated during the year 2015-16 will help increase our customer base and revenue”. Mr. Bhatia looked confident and hopeful of continuing the growth pattern and augmenting its position in the market for the year ahead.

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First Published on May 31, 2016 12:38 pm
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