Shalimar Paints Ltd. — Interim / Quarterly Report 2021

Nov 13, 2021

November 13, 2021

BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department, Exchange Plaza, 5" Floor, 1° Floor, New Trading Ring, Plot No. C/1, G- Block Rotunda Building, P.J. Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai - 400 001 Mumbai — 400051

Sub: Outcome of Board Meeting of Shalimar Paints Limited ("Company") held on November 13, 2021

Ref: Disclosure under Regulation 30 and 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

(Scrip Code: BSE — 509874, NSE —- SHALPAINTS)

Dear Sir/ Ma'am,

This is in continuation to our letter dated 26™ October, 2021, we wish to inform you that pursuant to the applicable provisions of the SEBI Listing Regulations, the Board of Directors of Shalimar Paints Limited (the "Company") at its meeting held today, i.e. Saturday, November 13, 2021 inter alia, considered and approved the Un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2021.

Copy of the aforesaid results along with the Limited Review Report(s) by the Statutory Auditors of the Company are enclosed herewith as-Annexure-A

The financial results will be published in the newspapers in terms of Regulation 47 of the SEBI Listing Regulations. a 40 ⁱ

Ay The meeting commenced today at 11:45 a.m and concluded aod p.m.

You are requested to kindly take the above information on records.

Shalimar Paints Ltd.

Thanking You For Shalimar Paints Limited

(Company Secretary)

Enclosed as above

Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gurugram ~ 122001, Haryana Regd. Office: Stainless Centre, 4° Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana Call: +91 124 461 6600 Fax: +91 124 461 6659 Toll Free: 180-103-4609 , Email Id: askus(@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

Se ee Ee aan en eee

To the Board of Directors Shalimar Paints Limited

• (1) We have reviewed the accompanying statement of unaudited standalone financial results of Shalimar Paints Limited (the 'Company") for the quarter ended 30-September-2021 and year to date from 01-April-2021 to 30-September-2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation') as amended, read with SEBI Circular No. CIR/CFD/CMD1/44/2019 dated 29-March-2019 ('the Circular').
• (2) The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular, is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.
• (3) | We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• (4) Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For A. K. DUBEY & CO., Chartered Accountants Firm Registration No. 329518E ZQUBEY ¢ ay <a) * UDIN : 21057141 AAAACY4938

Place: Gurugram Date: 13-November-2021

Regd. Off.: Fjord Tower, Flat # 19A2, 1925, Chakgaria, Hiland Park, Kolkata - 700094; (91)(033) 4071-6096; 2462-6148; E-mail : akdubeyco@gmail.com Support Office : 86, Raja Basanta Roy Road, Kolkata - 700029; #° (91)(033) 2465-5912; 4008-9349 Branch Office : 18, RN Tagore Road, P.O. - Berhampore, Dist. - Murshidabad, Berhampore - 742 101 C/o.: Maitra Lodge, Baruipur Kachari Bazar, Bishalaxami Tala, Dist. - South 24 Parganas, Kolk

nas Se Sr iia ae ee =

To the Board of Directors Shalimar Paints Limited

a eee

• (1) We have reviewed the accompanying Statement of unaudited Consolidated Financial Results of Shalimar Paints Limited ("the Parent") and its subsidiaries- Shalimar Adhunik Nirman Limited & Eastern Speciality Paints & Coating Private Limited, (the Parent and its subsidiaries together referred to as 'the Group') for the quarter ended 30-September-2021 and year to date from 01- April-2021 to 30-September-2021 (the "Statement") attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulation'), read with SEBI Circular No. CIR/CFD/CMD1/4412019 dated 29-March-2019 ('the Circular').
• (2) This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India read with the Circular. Our responsibility is to express a conclusion on the Statement based on our review.
• (3) We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. pe

We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015 as amended, to the extent applicable.

(4) The accompanying unaudited consolidated financial results includes unaudited interim financial results and other unaudited financial information in respect of subsidiaries (referred to in Para 1 above) which have not been reviewed by their auditors, whose interim financial results reflect

Regd. Off.: Fjord Tower, Flat # 19A2, 1925, Chakgaria, Hiland Park, Kolkata - 700094; @ (91)(033) 4071-6096; # Support Office : 86, Raja Basanta Roy Road, Kolkata - 700029; #* (91)(033) 2465-5912; 4008-9349 Branch Office : 18, R N Tagore Road, P.O. - Berhampore, Dist. - Murshidabad, Berhampore - 742 101 C/o.: Maitra Lodge, Baruipur Kachari Bazar, Bishalaxami Tala, Dist. - South 24 Parganas . Kolkata -700 144 crore) ,total comprehensive income/(loss) of Rs (0.16 crore) and net cash flows of NIL for the quarter ended September 30, 2021, and for the period from April 1,2021 to September 30,2021, respectively, as considered in the unaudited consolidated financial results. These unaudited financial results and other unaudited financial information have been approved and furnished to us by the parent company management. Accordingly, we are unable to comment on the financial impact, if any, on the Statement, had the same been subjected to review either by us or by other auditors.

(5) Based on our review conducted and procedures performed as stated in paragraph 3 above ,and except for the possible effects of matter described in paragraph 4 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For A. K. DUBEY & CO., Chartered Accountants Firm Registration No. 32951 UDIN : 21057141AAAACZ2153

Place: Gurugram Date: 13-November-2021

3

Statement of Unaudited Standalone Financial Results for the Quarter and Six months ended September 30, 2021

		SHALIMAR PAINTS
	Statement of Unaudited Standalone Financial Results for the Quarter and Six months ended September		Shalimar Paints Limited				30, 2021
SNo			Quarter Ended			( Rs in Crore except for EPS ) Six Months Ended	Year Ended
1	Particulars Income	30.09.2021	30.06.2021 (Unaudited) (Unaudited) (Unaudited)	30.09.2020	30.09.2021	30.09.2020 (Unaudited) (Unaudited) (Audited)	31.03.2021
	a) Revenue from operations b) Other Income	90.93 0.14	65.17 0.10	76.81 0.18	156.10 0.24	121.29 0.36	325.56 7.28
2	Total Income Expenses	91.07	65.27	76.99	156.34	121.65	332.84
	a) Cost of material consumed b) Purchase of Stock-in-Trade	63.01	42.84	42.95	105.85	61.91	198.43
	c) Changes in inventories of finished goods, work-in-progress and stock in trade	5.19	3.42	5.83	8.61	8.31	21.89
	d) Employee benefits expenses	2.32 10.82	3.10 10.65	1.28 8.06	5.42 21.47	10.85 16.19	2.38 36.71
	Finance costs e) Depreciation & amortisation expenses f)	5.65 3.45	4.79 3.30	4.60 3.33	10.44 6.75	8.89 6.66	19.04 13.30
	g) Other Expenses Total Expenses	17.39	14.03	14.20	31.42	24.87	62,52
3	Profit/(Loss) before exceptional items and tax	107.83	82.13	80.25	189.96	137.68	354.27
4	(1-2) Exceptional Items	(16.76)	(16.86)	(3.26)	(33.62)	(16.03)	(21.43)
			(2.48)
	Expenses ja) Incomes b)	- -		- -	(2.48)	(2.00)	(2.00)}
	Profit/(Loss) before tax (3-4) Tax Expenses	(16.76)	(19.34)	(3.26)	- (36.10)	- (18.03)	- (23.43)
	Current Tax a) Deferred Tax b)	- -	-	- 0.34	- -	- (3.90)	= 26,08
7	Profit/(Loss) for the period (5-6) Other Comprehensive Income/ (Expense)	(16.76)	(19.34)	(3.60)	(36.10)	(14.13)	(49.51)
	Items that will not be reclassified to profit or (loss) (net of tax)	one	(0.02)	0.02	006	0.03	014
9 10	Total Comprehensive Income (7+8) Paid-up equity share capital (Face Value of Rs 2	(16.68)	(19.36)	(3.58)	(36.04)	(14.10)	(49.37)
11	per share) {Other Equity	10.86	10.86	10.86	10.86	10.86	10.86 196.13
12	Earning per share (of Rs. 2 each) Basic	(3.09)	(3.56)	(0.66)	(6.65)	(2.60) "	(9.12)
	Diluted (EPS for the quarter not annualised)	(3.09)	(3.56)	(0.66)	(6.65)	(2.60)	(9.12)
&	Shalimar Paints Ltd.

Call: +77 124 461 Corporate Office: 1" Floor, Plot No. 28, Secte 3 & SHALIMAR Regd. Office: Staintess Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana, PAINTS Email Id: askus(@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

Notes:

• 1. This statement is as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. On 4th Jan 2019, the company had allotted 3,11,43,042 equity shares of face value Rs. 2 each at the price of Rs. 64.50 per share (including premium of Rs. 62.50 per share) aggregating to Rs. 200.87 Crore to the eligible equity shareholders on Rights basis in the ratio of 3 equity shares for every 2 equity shares held.

		SHALIMAR PAINTS
		Shalimar Paints Limited
1. These financials results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of Act, 2013 and the other recognised accounting practices and policies to the extent applicable.
2. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 13, 2021.
3. This statement is as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
4. On 4th Jan 2019, the company had allotted 3,11,43,042 equity shares of face value Rs. 2 each at the price of Rs. 64.50 per share (including premium of Rs. 62.50 per share) aggregating to Rs. 200.87 Crore to the eligible equity shareholders on Rights basis in the ratio of 3 equity shares for every 2 equity shares held.
Proceeds from the Rights Issue have been utilised in the following manner (Rs. in crore)
Particulars	Proposed to be utilised as per Letter of offer	Proposedto Utilised till be utilised (revised)*	March 2021	Utilised during the financial year 2021-22	To be aes
Project of reinstatement of paint manufacturing plant at Nashik	45.68	44.92	42.96	0.20	1.76
Setting up of Regional Distribution Centre (RDC) at Nashik	3.40	0.40	0.40	-
Long Term Working Capital Requirements	117.38	121.14	121.14	-	-
General Corporate purposes	34.15	34.15	34.15	-
Expenses for Rights Issue	0.26	0.26	0.26	~
Total	200.87	200.87	198.91	0:20	1.76

*There is increase in the allocation of funds towards Long Term Working Capital Requirement, and the same has been allocated through reduction in Nashik project (including RDC) cost.

1. The management has taken into account the possible impact of COVID-19 in preparation of the financial results, including assessment of recoverability of its assets based on the internal and external information up to the date of approval of the results. The Company will continue to monitor any material changes to future economic conditions.

Shalimar Paints Ltd.

. Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gukugram ~ 122801, & SHALIMAR Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32, Gurgram - 122001, Haryana. PAINTS Call: +91 124 461 6600 Fax: +91 124 461 6459 Toll Free: 1800-103-4509 Email Id: askus(@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

1. The Company operates mainly in one business segment i.e. Paints.

2. Previous year's/ quarter's/period's figures have been rearranged/ regrouped wherever considered necessary.

Place: Gurugram Managing Director Date: Nov 13, 2021 DIN: 01722395

For and on behalf of the Board

wl

Ashok Kumar Gupta

Shalimar Paints Ltd. Corporate Office: 1* Floor, Plot No. 28, Sector 32, Gurugram — 122001, Haryana . & SHALIMAR Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana. PAINTS Call: +91 124 461 6600 Fax: +91 124 4616659 Toll Free: 1800-103-6509 Email Id: askus{@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065411

Statement of Unaudited Consolidated Financial Results for the Quarter and Six months ended September 30, 2021

			SHALIMAR
					PAINTS Shalimar Paints Limited Statement of Unaudited Consolidated Financial Results for the Quarter and Six months ended September 30, 2021
			Quarter Ended				( Rs in Crore except for EPS )
S No	Particulars	30.09.2021	30.06.2021	30.09.2020	30.09.2021	Six Months Ended 30.09.2020	Year Ended 31.03.2021
1	Income			(Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Unaudited)	(Audited)
	a) Revenue from operations b) Other Income	90.93 0.06	65.17 0.02	76.81 0.10	156.10 0.08	121.29 0.20	325.56 6.94
2	Total Income Expenses	90,99	65.19	76.91	156.18	121.49	332.50
	a) Cost of material consumed	63.01	42.84	42.95	105.85	61.91	198.43.
	b) Purchase of Stock-in-Trade c) Changes in inventories of finished goods,	5.19 232	3.42 3.10	5.83 1.28	8.61 5.42	8.31 10.85	21.89 238
	work-in-progress and stock in trade d) Employee benefits expenses	10.82	10.65	8.06	21.47	16.19	36.71
	e) Finance costs f)	5.65	4.79	4.60	10.44	8.89	19.04
	Depreciation & amortisation expenses g) Other Expenses	3.45 17.39	3.31 14.03	3.33 14.20	6.76 31.42	6.66 24.87	13.32 62.52
3	ae Total Expenses before exceptional items and tax	107.83 (16.84)	82.14 (16.95)	80.25 (3.34)	189.97 (33.79)	137.68 (16.19)	354.29 (21.79)
4	Exceptional Items Expenses a)	¢	(2.48)	-	(2.48)	(2.00)	(2.00)
5	Incomes b) Profit/(Loss) before tax (3-4)	- (16.84)	- (19.43)	- (3.34)	- (36.27)	- (18.19)	-
6	Tax Expenses Current Tax a)	:	-	"	-	:	(23.79) -
	Deferred Tax b) Profit/(Loss) for the period (5-6)	-	-	0.34		(3.90)	26.08
8	{Other Comprehensive Income/ Expense Items that will not be reclassified to profit or	(16.84) 0.08	(19.43)	(3.68)	(36.27)	(14.29)	(49.87)
	(loss) (net of tax)		(0.02)	0.02	0.06	0.03	0.14
9 "	Total Comprehensive Income (7+8) pay equity share capital (Face Value of Rs	(16.76) 10.86	(19.45) 10:86	(3.66) 10.86	(36.21) 10.86	(14.26)	(49.73)
	2 per share)					10.86	10.86
11 12	Other Equity Earning per share (of Rs. 2 each)						212.21
	Basic Diluted	(3.10) (3.10)	(3.58) (3.58)	(0.68) (0.68)	(6.68) (6.68)	(2.63) (2.63)	(9.18) (9.18)

Shalimar Paints Ltd.

PAINTS Corporate Office: 1* Floor, Plot : Regd. Office: Stainiess Centre, 4" Floor, Plot No. Call: +91 1244614600 Fax: +91 124 461 6659 Toli\Free: 1800-103-4509 Email Id: askusfashalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902 ugram ~ 122001, Haryan

Notes:

• 1. This statement is as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. On 4th Jan 2019, the company had allotted 3,11,43,042 equity shares of face value Rs. 2 each at the price of Rs. 64.50 per share (including premium of Rs. 62.50 per share) aggregating to Rs. 200.87 Crore to the eligible equity shareholders on Rights basis in the ratio of 3 equity shares for every 2 equity shares held.

Proceeds from the Rights Issue have been utilised in the following manner (Rs. in crore)

		SHALIMAR PAINTS
		Shalimar Paints Limited
1. These financials results have been prepared in accordance with the Companies (Indian Accounting Standar Rules, 2015 (Ind AS) prescribed under section 133 of Act, 2013 and the other recognised accounting practices policies to the extent applicable.					ds) and
2. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meet held on November 13, 2021.					ing
3. This statement is as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
4. On 4th Jan 2019, the company had allotted 3,11,43,042 equity shares of face value Rs. 2 each at the price of Rs. 64.50 per share (including premium of Rs. 62.50 per share) aggregating to Rs. 200.87 Crore to the eligible
equity shareholders on Rights basis in the ratio of 3 equity shares for every 2 equity shares held.
Proceeds from the Rights Issue have been utilised in the following manner (Rs. in crore) Particulars	Proposedtobe utilised as per Letter of offer	Proposedto be utilised (revised)* ~	— Utilised till = March 2021	Utilised during the financial year 2021-22	iis wamsed
' Project of reinstatement of paint manufacturing plant at Nashik	45.68	44.92	42.96	0.20	1.76
_ Setting up of Regional Distribution Centre (RDC) at Nashik	3.40	0.40	0.40	-
Long Term Working Capital Requirements -	117.38 / -	121.14	121.14	:	,
General Corporate purposes	34.15	- 34.15
Expenses for Rights Issue Total	0.26	0.26	34.15 0.26	-	-

*There is increase in the allocation of funds towards Long Term Working Capital Requirement, and the same 1.76 has been allocated through reduction in Nashik project (including RDC) cost.

1. The management has taken into account the possible impact of COVID-19 in preparation of the financial results, including assessment of recoverability of its assets based on the internal and external information up to the date of approval of the results. The Company will continue to monitor any material changes to future economic conditions.

& Corporate

Shalimar Paints Ltd,

Office: 1" Floor, Plot No. 28, Sector 32, Gurugram - 122001, Haryana SHALIMAR Regd. Office: Staintess Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram ~ 122001, Haryana. PAINTS Call: +91 124 461 6600 Fax: +91 124 461 6659 Toll Free: 1800- 103-6509 Email Id: askusfashalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

1. The Company operates mainly in one business segment i.e. Paints.

2. Previous year's/ quarter's/period's figures have been rearranged/ regrouped wherever considered necessary.

For and on behalf of the Board

GA f} H fi! .

Shalimar Paints Ltd.

Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gurugram - 122001, Haryana SHALIMAR Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana. PAINTS Call: +971 124 461 6600 Fax: +91 124 461 6659 Toll Free: 1800-103-6509 Email Id: askus{@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

Unaudited Standalone and Consolidated Statement of Assets and Liabilities as at September 30, 2021

	SHALIMAR PAINTS.
Unaudited Standalone and Consolidated		Shalimar Paints Limited
		Statement of Assets and Liabilities as at September 30, 2021		(Rs in Crore )
Particulars	Un-Audited	Standalone Audited	Un-Audited	Consolidated Audited
ASSETS		As at 30.09.2021 As at 31.03.2021 As at 30.09.2021 As at 31.03.2021
Non-current assets Property, Plant and Equipment
Right-of-use-assets Capital work-in-progress	246.07 1.35	251.22 0.28	273.26 1.35	278.42 0.28
Intangible assets	0.24 4.16	0.35 4.59	0.24 4.16	0.35 4.59
Financial Assets i) Investments	0.86	0.86
ii) Loans iii) Other financial assets	9.55	9.32 0.07	- 1.55	- 1.50
Deferred tax assets (net) Other non-current assets	- 22.22	22.25	- 19.74	0.07 19.77
Current assets Inventories	0.10	0.23	0.10	0.23
Financial Assets	83.84	88.81	83.84	88.81
i) Trade receivables, ii) Cash and cash equivalents	66.97 1.62	77.72 2.59	66.97 1.68	77.72 2.65
iii) Bank balances other than (ii) above Iv) Other financial assets	6.72 4.74	5.03 4,46	6.73	5.04
Current Tax Assets (Net)	3.14	3.06	4.75 3.14	4.46 3.06
Other current assets Total Assets	14.16 465.74	15.99 486.83	14.16 481.67	15.99 502.94
EQUITY AND LIABILITIES
Equity Equity Share Capital
Other Equity	10.86 160.11	10.86 196.13	10.86 176.03	10.86 212.21
LIABILITIES Non-current liabilities
Financial Liabilities i)Borrowings	32.18	24.05	32.18
ii) Lease Liabilities iii) Other financial	0.90 0.62	-	0.90	24.05 -
Provisions Current liabilities	6.35	0.40 6.09	0.62 6.35	0.40 6.09
Financial Liabilities			i
i)Borrowings ii)Trade payables	118.91	99.64	118.91	99.64
-Outstanding dues to Micro and small enterprises	6.32	2.36	6.32	2.36
-Outstanding dues to trade payables other than Micro and small Enterprises	90.24	108.59	90.24
iii)Other financial liabilities Other current liabilities	29.41 5.10	28.73	29.42	108.59 28.73
Provisions Total Equity and Liabilities		5.33	5.10 4.74 481.67	5.36 4.65 502.94

& SHALIMAR

PAINTS

Shalimar Paints Ltd.

For and on behalf of the Board

fh |

Shalimar Paints Limited Unaudited Cash Flow Statement for the Six Months ended September 30, 2021

SHALIMAR PAINTS
Shalimar Paints Limited Unaudited Cash Flow Statement for the Six Months ended September			30, 2021
		Standalone (Unaudited)	_	__( Rs in Crore ) Consolidated (Unaudited)
partici	Six months Ended	Six months Ended	Six months Ended	Six months Ended
A. CASH FLOW FROM OPERATING ACTIVITIES Profit / (Loss) Before Tax	Sep 30, 2021	Sep 30,2020 Sep 30, 2021		Sep 30, 2020
Adjustments for: Depreciation, amortization and impairment expenses	(36.10)	(18.03)	(36.27)	(18.19)
Finance Costs Interest Income	6.75 10.44	6.66 9.21	6.76 10.44	6.66 921
Operating Profit/(loss) before Working Capital changes Adjustments for:	(0.23) (19.14)	(0.29) (2.45)	(0.07) (19.14)	(0.29) (2.61)
Decrease in trade receivables Decrease	9.99
in Other receivable	2.06	13.32 5.52	9.99 2.06	13.32 5.52
Decrease in Inventories (Decrease) in Trade & other Payables	4.97 (12.29)	10.81 (29.37)	4.97 (12.13)	10.81 (29.20)}
Cash (used in) Operations before tax Direct Taxes paid (net of refund) Net Cash (used in) Operating activities	(14.41) (0.07)	(2.17) (0.10)	(14.25) (0.07)	(2.16) (0.10)
B. CASH FLOW FROM INVESTING ACTIVITIES	(14.48)	(2.27)	(14.32)	(2.26)
Acquisition of Property, Plant & Equipment/ Intangible Assets including Capital ies "i ane Interest/ other income Received	(2.21)	(2.22)	(2.21)	(2.22)
Movement in Margin money / Fixed deposits Net Cash (used in) investing activities	0.23 (1.62) (3.60)	0.37 (2.58) (4.43)	0.07 (1.62) (3.76)	0.37 (2.58)
C. CASH FLOW FROM FINANCING ACTIVITIES				(4.43)
Proceeds from / (repayment) of Borrowings (net)- Long term Proceeds from / (repayment) of Borrowings (net)- Short term	8.28 19,27	8.39 4.98	8.28 19.27	8.39 4.98
Finance Costs Net cash generated from Financing activities	(10.44) 17.11	(9.21) 4.16	(10.44) 17.11	(9.21) 4.16
D. Net cash (used in) Operating, Investing & Financing Activities	(0.97)	(2.54)	(0.97)	(2.53)
Opening balance of Cash and Cash equivalent Closing balance of Cash and Cash equivalent	2.59 1.62	2.75 0.21	2.65 1.68	2.80 0.27
Notes: The above Cash Flow Statement has been prepared under the "Indirect Method" (a)
Flow.	as set out in the Indian Accounting Standard (Ind AS 7)-Statement of Cash
	Standalone (Unaudited) Six months	Six months	Consolidated (Unaudited) Six months	Six months
ain	Ended Sep 30, 2021	Ended	Ended Sep 30,2020 Sep 30,2021 Sep 30,2020	Ended
(b) Cash and Cash Equivalents comprises of Balance with Banks : -In Current Accounts	1.62	0.21	1.68	0.27

		Standalone (Unaudited)
ain	Six months Ended Sep 30, 2021	Six months Ended	Six months Ended Sep 30,2020 Sep 30,2021 Sep 30,2020	Consolidated (Unaudited) Six months Ended
(b) Cash and Cash Equivalents comprises of
Balance with Banks :
-In Current Accounts Total	1.62	0.21	1.68	0.27
	- 1.62	0.21	1.68	0.27

Shalimar Paints Ltd.

Call: +91 124.461 6600 Fax: +91 124 461 6659 Toll Free: 1800-103-6509 Email Id: askus@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

For and on behalf of the Board

Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gurugram - 122001, Haryana eS SHALIMAR Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32. G rugram - 122001,\Haryana PAINTS