Promoter holding
64.27%
SP
Shalimar Paints Ltd - Due diligence report
A 360° intelligence report on Shalimar Paints: trust score, financial health, credit view, compliance, directors, growth and distress signal…
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Shalimar Paints — 360° Intelligence Report
Generated from MCA filings & public records64/100
Trust Score
Moderate
Shalimar Paints is assessed as Moderate with a Trust Score of 64/100. Shalimar Paints is an active public limited indian non-government company incorporated in 1902, operating in the Manufacturing sector. The company has shown revenue growth across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and moderate financial risk profile.
Report generated on 17 Jul 2026 from the latest processed filings. Shalimar Paints Ltd snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
64/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
42/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
55/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
75/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
75/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 45/100 Caution Indicated
- Negative operating earnings - debt service depends on external support.
- Externally credit-rated (BBB-).
Charges position: 5 open (274.26 cr) · 25 satisfied (393.75 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| State Bank Of India | 5 | 48.0 cr |
| Others | 13 | 48.0 cr |
| Punjab National Bank | 2 | 48.0 cr |
| Indusind Bank Ltd. | 1 | 48.0 cr |
| Small Industries Development Bank Of India | 1 | 48.0 cr |
| Religare Finvest Limited | 1 | 48.0 cr |
Compliance Score: 42/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: BSE.
- Litigation present in 4 court forum(s).
- Delayed payments to MSME suppliers disclosed (170 disclosure(s)).
- 25 active GST registration(s).
Legal cases on record (4)
05
Director Intelligence
Stability score: 75/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| VENUGOPAL CHETLUR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SOUVIK PULAKESH SENGUPTA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Sachin Shrikant Naik | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SNEHAL MAHENDRA SABOO | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIJAY KUMAR SHARMA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJEEV UBEROI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ATUL RASIKLAL DESAI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AADITYA GAJENDRA SHARDA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHAN JAIN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Kuldip Raina | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Kuldip Raina | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 11 directors on the board.
- No disqualified or deactivated DINs.
- 5 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2025)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2025 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Hella Infra Market Private Limited
Subsidiaries
2
Group entities
2
Capital events
9 allotment(s) · 4 transfer(s)
Promoters hold a majority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Eastern Speciality Paints & Coatings Private Limited | Subsidiary Company | 74.00% |
| Shalimar Adhunik Nirman Limited | Subsidiary Company | 74.00% |
| Hella Infra Market Private Limited | Holding Company | 74.00% |
Key managerial personnel: VENUGOPAL CHETLUR (Whole-time director) · Sachin Shrikant Naik (CFO) · Kuldip Raina (CEO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 75 · Distress 75
Growth signals & trust indicators
Revenue acceleration: +38% over 4 year(s).
EPFO headcount growing - hiring signal.
Operating for 123+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Losses deepening year-on-year.
Compliance score is weak (42/100).
5 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 3.80 cr.
4 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence58/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment47/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 5 open charge(s) of 274.26 cr already registered.
- Compliance gaps should be priced into terms.
Investor view65/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 2 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events26 Nov 2025
Charge satisfied
Others
06 Nov 2025
Charge satisfied
State Bank Of India
26 Sep 2025
Last AGM held
Annual general meeting
20 May 2025
Charge satisfied
Others
15 May 2025
Director ceased
Kuldip Raina
29 Apr 2025
Charge satisfied
Others
18 Apr 2025
Director appointed
Kuldip Raina (Ceo)
10 Apr 2025
Director appointed
Kuldip Raina (CEO)
31 Mar 2025
Latest balance sheet
Filed with ROC
21 Feb 2025
Director appointed
SNEHAL MAHENDRA SABOO (Company Secretary)
09 Aug 2024
Charge satisfied
Others
23 Jul 2024
Director appointed
VENUGOPAL CHETLUR (Whole-time director)
Director appointed
VIJAY KUMAR SHARMA (Director)
Director ceased
VENUGOPAL CHETLUR
11 Jul 2024
Charge satisfied
Religare Finvest Limited
10
Key Observations
Auto-generated from the data aboveRevenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - leverage worth monitoring.
Net worth is positive.
11 active director(s) / partner(s); board looks stable and experienced.
25 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 2 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of BBB- from Care.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority stake as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 9 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Global Calcium | U02429TZ1979PTC009946 | Hosur, Tamil Nadu, India |
| Indogulf Cropsciences | L74899DL1993PLC051854 | New Delhi, Delhi, India |
| Wanbury | L51900MH1988PLC048455 | New Mumbai, Maharashtra, India |
| Bhageria Group Of Companies | L40300MH1989PLC052574 | Mumbai, Maharashtra, India |
| Agrocel | U24210GJ1985PTC007569 | Bhachau, Gujarat, India |
| Omya | U24110MH2004PTC149843 | Taloja, Maharashtra, India |
| Malladi | U24230TN1980PLC008382 | Chennai, Tamil Nadu, India |
| Shreyans Industries | L17115PB1979PLC003994 | Ludhiana, Punjab, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Shalimar Paints before audits and certifications: compliance score 42/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Shalimar Paints: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Mixed indicators - deeper appraisal suggested. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 75/100, margin trends, ownership structure and peer set for Shalimar Paints - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 64/100, distress signals and MSME payment-delay disclosures - know whether Shalimar Paints pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (4 case(s) on record), regulatory flags, charge documents trail and director networks for Shalimar Paints - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Shalimar Paints an active company?
Shalimar Paints has MCA status “Active” with a compliance score of 42/100 (Caution Indicated).
Is Shalimar Paints financially healthy?
Shalimar Paints has a Financial Health Score of 55/100 (Moderate) based on its filed financial statements.
Should I do business with Shalimar Paints?
Its overall Trust Score is 64/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Shalimar Paints?
The ultimate holding entity is Hella Infra Market Private Limited. 11 active director(s) are on record.
Does Shalimar Paints have loans or charges against its assets?
5 open charge(s) are registered against its assets, and 25 earlier charge(s) stand satisfied.
Is Shalimar Paints up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 42/100 (Caution Indicated).
Is it risky to lend to Shalimar Paints?
Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Mixed indicators - deeper appraisal suggested.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
