Shalimar Paints Ltd. — Board/Management Information 2019

Dec 27, 2019

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Corporate Relationship Department BSE Limited P.J. Towers, Dalal Street, Mumbai 400 001 Fequin(y ~ O07 100 Fequiny\y ~ TS00O0r 'f'd "'SIOMOL osueyoxy "eze]g '[-d yoo "Dd aye1odioz diysuonelay quoumpedsed Jodeuryy - SuUljsVT

Manager - Listing National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai 400051 [ejeq 'Joons eipueg epiny 'xojdwiod eipueg "(q) AS pou] [eUCHeN Yoorg sdueyoxg Jo BIpuy PY]

Sub: Intimation under Regulation ³⁰ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ - Outcome of Board Meeting of Shalimar Paints Limited ("the Company") held on December 27, ²⁰¹⁹ pjoy uo Joquisoaq] 'LZ 6107 'suoNe[Nsoy OZ ¢| - oulooyng Jo preog Bunooy jo sewpeys sjureg pow] ou},,) (,.Aueduro,) :qns uoeWUT Jopun UOIjE[NZoy OF Jo ou} [GAS SuNsI']) suoe31[gO pue sinsojosiq] (sjuswomnboy

(Scrip Code: BSE - 509874, NSE - SHALPAINTS) drs) :9p0D ASA — 'bL860S ASN — (SLNIVdTVHS

Dear Sir/ Ma'am, 1e9q /1S BW "We

We would like to inform you that the Board of Directors of the Company at their meeting held today i.e. December 27, ²⁰¹⁹ which started at 11:00 a.m. and concluded at ?·.-0 .. p.m. inter-alia considered and approved the following agenda items: pue poAosdde OY} BUIMOT[OJ Bpudse SUD}E *3"! Joquiaceq] 'LZ 6107 YoIyM powels Te | YO:[ "ure pue popnjouoo Je O\NF "Wd vi[e-JayUI porepisuod IK pfnom S¥I] 0} WAOFJUT NOA Jey} ay} plvOg JO SIOJOOIIC] JO oy} Auedusos) ye si9y) Surysouw ploy Aepo}

• a) Appointment of Mr. Ashok Kumar Gupta, Director of the Company (DIN 01722395) as Managing Director (KMP) of the Company in the category of Executive, Non - Independent Director for ^a period of3 (three) years w.e.f. ²⁷ December 2019, subject to the approval of the shareholders of the Company. oy slappoyoreys JO dy} "'Aueduros JOJO Joy B poliad Jo ¢ (9o1Y}) Sawai 'fam LZ Jaquisseq "6107 yoolgns 0} ay} yeaoidde jo Suiseueyy Jopalg (qJAM) Jo sup Auedwios ul oy} AroZazeo Jo 'aarynoexY UON - juspuodapyy (ke yuowjuIoddy jo "I yousy seuny 'eidny 1operg Jo 943 Auedwos NIG) - (S6EZZLIO se
• b) Appointment of Mr. San jay Kumar Gupta (DIN 07579756) as an Additional Director of the Company in the category of Non - Executive, Independent Director for ^a term of ⁵ (five) consecutive years w.e.f. ²⁷ December, 2019. Mr. San jay Kumar Gupta_is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other such authority. BIPUT JO Aue 19430 Yons "AyoyNG Sulpjoy oy) so1jjo JO Jo}e1IG Aq onpta Jo Aue Jopsio Jo soiinoes pue oBueyoxg pievog JO BAlNDaSUOD Sea 'Ja'm LZ "Joquiaseq "6107 "I Aelues szewny eydny st jou palegop WO, AuedwoD ur oy} AroSaye9 Jo UON - 'eannoexg yUopuadepuyT JOJOOIIG] JO} B WO} JO ¢ (Alf) (q juounuioddy jo "spl Aefues sewuny BIdnyH NIC) - (9S/6LSL0 Se UP JEUOTPPpY 10JO9IIC] JO ay}
• c) Resignation of Mr. Sandeep Gupta from the position of Chief Financial Officer (KMP) of the Company w.e.f. ²⁷ December, 2019. Auedwog yo' /Z "Aaquieseaq "6107 uonisod Jo JoryD [eoueury J90JO (CIM) JO dt) uoyeusisoy Jo yl dsopues edny woy oy} (9
• d) Appointment of Mr. Ashish Kumar Bagri as Chief Financial Officer (KMP) of the Company w.e.f. ²⁷ December, 2019. "fam LZ "Jsquissaq| "6107 (p jusunuioddy Jo A ysrysy sewny wseg se JoryD [eloueuly 1E0HJO (qIW) Jo a Aueduiog

Detailed disclosure as required under SEBI Circular dated 9th September, ²⁰¹⁵ with regar^d to aforesaid appointment/resignation is enclosed as Annexure I. preso10je UOIeUsIsoI/jUoUNUTOdde SI poso[oud SB suNXOUUY "| poyiejoqd simsojosip se posinbo: Jepun [qGyS sejNOID polep 16 "equioides S[QZ YUM pieBer O}

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Further, we wish to inform you that in accordance with Regulation 30 (5) of the SEBI (Listing Obligation and Disclosure Requirements). Regulations, 2015, the Board of Directors have authorized, Mr. Ashok Kumar Gupta, Managing Director of the Company to determine materiality of an event or information and to intimate to the Stock Exchanges regarding such material event or information. His contact details are as under:

Name & Designation: Mr. Ashok Kumar Gupta, Managing Director, Shalimar Paints Limited Address: 1^st Floor, Plot no.28, Sector-32, Gurugram, Haryana. Contact No: 0124-4616600

This is for your information and record.

For Shalimar Paints Limited

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Gaut: m Company Secretary

Encl: a/a

Annexure I DanxouUy J

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Mr. Ashok Gupta

Ashok Kumar Gupta is the Director at Shalimar Paints, India's leading and most iconic paint manufacturer. In his role at the organization, Mr. Ashok Gupta oversees the overall operations of the brand while also framing successful growth strategies for the brand.

Holding a Master's degree in Physics and PGDBA, Mr. Ashok Gupta is an industry veteran with over three decades of experience in leadership positions at reputed organizations including SAIL, Jindal Industries, Surya Roshni, Arcelor Mittal etc., specializing in driving business transformation, growth, and profitability. While at Jindal Stainless, Mr. Ashok Gupta was deeply involved in turning the company around from a loss-making unit to a profitable business. His expertise was once again brought to the fore at APL Apollo Tubes Limited, an INR 9,000 crore company, where he recently served as the Managing Director. Under his leadership, APL Apollo Tubes Limited has consistently grown at a CAGR of 20%. Over the years, the company has grown from 2.5 lac tons facility to over 25 lac tons facility.

Mr. Ashok Gupta joined Shalimar Paints in June 2018. Under his guidance the Company witnessed an impressive turnaround and led a successful rights issue worth INR 200 crore. These funds, made available as working capital, have helped Shalimar Paints become EBITDA positive in the current financial year and register a year-on-year business growth of more than 30%.

Mr. Gupta's expertise lies in bringing about business transformation by carefully developing strategies that fits best in the interest of the company. He has a sharp financial and business acumen and also a great ability to take the team together.

Mr. Sanjay Kumar Gupta is a Fellow member of The Institute of Chartered Accountants of India (ICAI) & Insurance Institute of India (III) and Associate member of The Institute of Cost & Management Accountants of India (ICMA) & The Institute of Company Secretaries of India (ICSI). He is also alumnus of the Shri Ram College of Commerce (SRCC), Delhi University. He has over 25 years of experience in leadership roles across functions in diverse industries like Steel, Financial Services, Housing & Urban infrastructure Finance etc. He is currently associated with Jindal United Steel Ltd as Chief Financial Officer.

He had held leadership roles with Jindal Stainless Ltd., Tata Motors Finance Ltd. & HUDCO. His areas of expertise includes Corporate & Business Finance, Treasury, Financial Planning & Analysis, Corporate Taxation, Risk Management and Strategic assignments of M&A, restructuring for turnaround of companies etc.

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Ashish Kumar Bagri Chief Financial Officer - Shalimar Paints

Ashish Kumar Bagri is appointed as the Chief Financial Officer at Shalimar Paints, India's leading and most iconic paint manufacturer. As the head of the Finance & Accounts Department, Ashish is responsible to oversee all activities of the finance department, ensuring proper execution of functions, and compliance with both internal and external legislation and policies. He also oversees the development of financial and operational strategies and metrics of the organization.

Ashish is a qualified Chartered Accountant with more than 16 years of experience in Finance. He has worked with reputed brands like PepsiCo, ITC Limited in the past. He has been instrumental in driving the consistent evaluation of both short and long-term strategic financial objectives of the organizations he has been involved with. He has a rich experience of spearheading the transaction processing systems and implementing operational best practices across the finance department and the wider business.

Ashish with his rich experience spearhead all the processes relating to budgets and consolidation in the finance department, providing accurate and timely analysis of budgets, forecasts, and financial trends for access by the entire business. He is actively involved in the initiatives which ensure that there are effective internal controls in place and ensure compliance with generally accepted accounting principles, state legislation and regulations.