Gupta will also assume the role of vice chairman of APL Apollo Tubes Limited
Paints manufacturing company Shalimar Paints has appointed Ashok Gupta as its managing director. Further, Gupta will also assume the role of vice chairman of APL Apollo Tubes Limited. It should be noted that prior to the appointment, Gupta was working with APL Apollo Tubes Limited as MD. In his new role, Gupta is responsible for overseeing the overall operations of the brand while also framing growth strategies for the brand.
“He has already facilitated an impressive turnaround for the brand and led a successful rights issue worth Rs 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%,” the company stated.
Established in 1902, the company is engaged in the manufacturing and marketing of decorative paints and industrial coatings. The Decorative business covers both interior and exterior paints where it has a number of flagship brands. The company also has tinting systems under the brand “Color Space” where it offers more than 7,500 shades across all product lines to its customers. Some of India’s iconic buildings and structures such as the Howrah Bridge, Rashtrapati Bhawan, Salt Lake Stadium, All India Institute of Medical Sciences, and many others, have been painted with Shalimar Paints. The company currently has two manufacturing units and a strong footprint across the country with over 30 branches and depots. Apart from India, Shalimar also caters to consumers in Nepal, Bhutan, Dubai, and Seychelles.