Date: August 18, 2026

Products/Services

  • Main Business Activity: Manufacturing of paints and coatings (development, manufacturing, marketing, and distribution)
  • % of Turnover: 95%
  • Specific Products: Emulsion, Enamels, Distemper, Primer, Epoxy, Marine Coats, Zinc Rich Coatings, Aluminum
  • NIC Code: 39073010

Operations

  • Number of Plants: 4 (National) [Note: Howrah Plant is non-operational]
  • Number of Offices: 1 (National)
  • Markets Served: National (22 states + 1 UT), International (2 countries)
  • Contribution of Exports: 0.95% of total turnover

Employees

  • Total Employees: 581 (Permanent: 556, Other than Permanent: 25)
  • Male Employees: 555 (95.53%)
  • Female Employees: 26 (4.48%)
  • Total Workers: 479 (Permanent: 43, Other than Permanent: 436)
  • Male Workers: 472 (98.54%)
  • Female Workers: 7 (1.47%)
  • Differently Abled: 0 employees and 0 workers
  • Turnover Rate for Permanent Employees: 48.02% (Male: 48.49%, Female: 36.37%)
  • Turnover Rate for Permanent Workers: 26.27% (Male: 26.27%, Female: 0%)

Holding, Subsidiary and Associate Companies

1. Hella Infra Market Limited (Holding, 0% shares held, Does not participate in BR initiatives)

2. Shalimar Adhunik Nirman Limited (Subsidiary, 99.99% shares held, Does not participate in BR initiatives)

3. IM Inicio Projects Private Limited (Subsidiary, 100% shares held, Does not participate in BR initiatives)

CSR Details

  • CSR Applicability: Yes as per section 135 of Companies Act, 2013
  • Turnover: ₹5,661,658,161 INR
  • Net Worth: ₹2,376,573,333 INR
  • Note: The company states it does not fall under the obligation of CSR as per Section 135.

Transparency and Disclosures Compliances

  • Complaints/Grievances on NGRBC Principles: Yes, registered via email (askus@shalimarpaints.com)
  • Shareholders: Current FY Filed: 2, Pending: 0; Previous FY Filed: 1, Pending: 0
  • Employees and Workers: Current FY Filed: 0, Pending: 0; Previous FY Filed: 2, Pending: 0
  • Customers: Previous FY Filed: 1, Pending: 1 (Order passed against company by District Consumer Disputes Redressal Commission, Pathankot; appeal filed at State Consumer Disputes Redressal Commission, Chandigarh)
  • Value Chain Partners: Current and Previous FY Filed: 0, Pending: 0

Material Responsible Business Conduct Issues

The report identifies 7 material issues:

1. Waste Management (Risk): Risk of environmental contamination and health impacts. Mitigation includes comprehensive waste management plans, audits, and emergency response preparedness. Negative financial implications include potential fines and remediation costs.

2. Water Management (Risk): Risk from high water consumption and wastewater disposal. Mitigation includes water audits, recycling systems, and upgraded equipment. Negative implications include fines and public health risks.

3. Health & Safety (Risk & Opportunity): Risk from hazardous chemicals and machinery; opportunity to reduce costs and improve efficiency. Mitigation includes risk assessments and safety training. Positive implications include reduced injuries and enhanced productivity; negative include fines and operational disruption.

4. GHG Emissions (Risk): Risk of contributing to climate change. Mitigation includes emission assessments and energy efficiency strategies. Negative implications include fines for non-compliance.

5. Human Rights (Opportunity): Opportunity to enhance reputation and prevent legal issues. Approach includes training and grievance mechanisms. Positive implications include improved ethical image and stakeholder relationships.

6. Code of Conduct (Opportunity): Opportunity to foster ethical practices. Approach includes policy reviews and training. Positive implications include enhanced investor confidence.

7. Chemical Safety and Management (Risk & Opportunity): Risk from chemical handling; opportunity to develop safer products. Mitigation includes safety protocols and supplier assessments. Negative implications include fines and liabilities; positive include strengthened brand image.

Management and Process Disclosures

  • NGRBC Principles Coverage: Policies cover all principles except Principle 7 (responsible public policy influence). Principle 7 is planned for next financial year.
  • Policy Translation: Policies have been translated into procedures and communicated to stakeholders.
  • Value Chain Extension: Policies extend to value chain partners for all principles except Principle 7.
  • Certifications: ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), ISO 45001:2018 (Occupational Health & Safety), ISO/IEC 17025:2017 (Accredited Laboratory)
  • Goals and Targets: Entity is in the process of finalizing its ESG goals and targets.
  • Governance: Highest authority for implementation is Mr. Kuldip Raina, Managing Director & CEO. A specified Risk Management Committee addresses sustainability issues.
  • Policy Review: Performance against policies and compliance is reviewed routinely on an as-needed basis.

Principle-wise Performance Disclosure

Principle 1 (Ethical, Transparent, Accountable)
  • Training Coverage: Board of Directors (100%, 2 programs), KMP (100%, 1 program), Other Employees (100%, 37 programs), Workers (5.22%, 5 programs)
  • Fines/Penalties: NIL monetary and non-monetary fines/penalties.
  • Anti-Corruption Policy: Yes, included in Code of Conduct.
  • Disciplinary Action: NIL against Directors, KMPs, employees, or workers for bribery/corruption.
  • Conflict of Interest Complaints: NIL for Directors and KMPs.
  • Accounts Payable Days: 167 days (2025-26) vs 130 days (2024-25)
  • Concentration of Purchases/Sales: Purchases from 140 trading houses (top 10: 53.36% of trading house purchases). Sales to 7047 dealers (66% of total sales; top 10: 7.2% of dealer sales).
  • Related Party Transactions (RPTs): Purchases: 0.32%, Sales: 1.26%, Loans & Advances: 100%, Investments: 100%.
Principle 2 (Sustainable and Safe Goods/Services)
  • Sustainable R&D Investment: 11.11% of total R&D (2025-26) vs 1.12% (2024-25). Developed 16 high solids and direct-to-metal coatings and 2 waterborne products.
  • Sustainable Capex: 0.02% of total capex (2025-26) vs 2.43% (2024-25).
  • Sustainable Sourcing: No formal procedures yet; company is exploring frameworks.
  • Product Reclaiming Processes: Plastic waste sent to certified recyclers; E-waste via authorized recyclers; hazardous waste via approved vendors with SPCB authorizations; R&D focuses on eco-friendly products; recyclable materials (cardboard, bags) sent to recycling units.
  • Extended Producer Responsibility (EPR): Yes, applicable. Waste collection plan is in line with submitted EPR plan to CPCB. Includes collection infrastructure, awareness initiatives, partnerships, and regular reporting.
Principle 3 (Employee Well-being)
  • Well-being Measures Coverage: Health, Accident, Maternity, Paternity, and Day Care benefits provided to 100% of permanent and other than permanent employees and workers.
  • Spending on Well-being: 0.17% of total revenue (2025-26) vs 0.25% (2024-25).
  • Retirement Benefits: PF (100% employees & workers, deposited), Gratuity (95.7% employees, 100% workers, deposited), ESI (0.86% employees, 100% workers, deposited).
  • Workplace Accessibility: Premises are accessible to differently abled per Rights of Persons with Disabilities Act, 2016.
  • Equal Opportunity Policy: Yes, as per Rights of Persons with Disabilities Act, 2016.
  • Parental Leave Return/Retention: 100% return and retention for both male and female employees. Not applicable for workers.
  • Grievance Mechanism: Yes, via email (hrd@shalimarpaints.com) and POSH committee.
  • Union Membership: 0% of permanent employees and workers are in unions.
  • Training Given: 100% of employees (555 males, 26 females) received training. 90.1% of male workers (500 out of 555 total trained) received training.
  • Performance Reviews: 100% of employees (581) reviewed. 8.98% of workers (43 out of 479) reviewed.
  • Health & Safety Management System: Yes, implemented. Includes EHS Policy, Hazard Identification, Legal Compliance, Training, Incident Reporting, Safety Work Permit System, VOC Monitoring, Annual EHS Audit, Spillage Control.
  • Hazard Identification Processes: Routine (inspections, registers, JSA, employee feedback, meetings, maintenance, permits) and Non-routine (pre-task evaluation, new process assessments, incident analysis, change management, drills, expert consultations).
  • Worker Hazard Reporting: Yes, via \"Abnormality Register\".
  • Non-occupational Healthcare: Yes, via Mediclaim Policy.
  • Safety Incidents: Lost Time Injury Frequency Rate (LTIFR) - Employees: 6.24, Workers: 14.36. Total recordable injuries - Employees: 1, Workers: 19. Zero fatalities and high-consequence injuries.
  • Safety Measures: Safety training, PPE kits, work permit system, safety audits, emergency plan, identification of unsafe conditions.
  • Complaints on Working Conditions/Health & Safety: 0 filed, 0 pending.
  • Assessments: 100% of plants and offices assessed for health & safety practices and working conditions.
  • Corrective Actions for Safety: Installation of fire safety systems, training, mock drills, work permit system, removal of hazardous materials, plans for dust suction system.
Principle 4 (Stakeholder Responsiveness)
  • Stakeholder Identification Process: Based on influence/effect by operations, activities, tech changes, regulations, market/societal trends. Key groups: communities, employees, supply chain partners, customers, investors, regulators, civil society.
  • Stakeholder Engagement Details:
  • Employees/Workers: Channels - Email, intranet, newsletters, activities, surveys; Frequency - Continuous; Purpose - Essential assets for success.
  • Shareholders/Investors: Channels - AGM, calls, web page, financials, reports, press releases; Frequency - Quarterly/Half-yearly/Annually/Event-based; Purpose - Governance, timely disclosures, dispute resolution.
  • Customers: Channels - Website, social media, promotions, campaigns; Frequency - Continuous; Purpose - Satisfaction and relationship building.
  • Vendors/Supply Chain: Channels - Email, phone, meetings, reviews; Frequency - As needed/Continuous; Purpose - Service fulfillment, collaboration.
  • Communities: Channels - CSR, volunteering; Frequency - Continuous; Purpose - Responsible citizenship, social impact.
  • Government/Regulators: Channels - Disclosures, meetings; Frequency - Audits (periodic/monthly/quarterly/annually); Purpose - Compliance, tax, policy adherence.
Principle 5 (Human Rights)
  • Human Rights Training: 100% of employees (581) and workers (479) covered.
  • Minimum Wages: 100% of employees and workers paid more than minimum wage.
  • Remuneration Details:
  • Median Remuneration: BoD (Male: ₹24,237,878, Female: ₹0), KMP (Male: ₹9,121,068, Female: ₹1,912,488), Other Employees (Male: ₹567,184,610 total, Female: ₹18,658,670 total), Workers (Male: ₹153,258,927 total, Female: ₹2,272,908 total).
  • Gross wages to females: 3.38% of total wages (2025-26) vs 3.78% (2024-25).
  • Human Rights Focal Point: HR team is designated focal point.
  • Grievance Mechanism: Employees report to supervisor or HR team.
  • Complaints: Zero complaints on sexual harassment, discrimination, child labour, forced labour, wages, or other human rights issues.
  • POSH Complaints: NIL complaints reported.
  • Prevention Mechanisms: Internal Committee with SOPs to prevent adverse consequences to complainants.
  • Human Rights in Contracts: Yes, included in Code of Conduct policy.
  • Assessments: 100% of plants and offices assessed for child labour, forced labour, sexual harassment, discrimination, wages.
  • Corrective Actions: None required as no significant risks identified.
Principle 6 (Environmental Protection)
  • Energy Consumption: Total energy consumed: 1,814,086,315,600 kJ (2025-26). Renewable: 208,056,960 kJ, Non-renewable: 1,606,029,355,900 kJ. Energy intensity per rupee turnover: 320,416 kJ/₹ (2025-26).
  • PAT Scheme DCs: Not Applicable.
  • Water Details:
  • Water withdrawal: Total 25,741 kL (Groundwater: 22,016 kL, Third party: 3,724 kL).
  • Water consumption: 25,065 kL.
  • Water intensity per rupee turnover: 0.44 kL/₹.
  • Water discharge: Total 675.56 kL (Treated: Chennai Plant - aeration for gardening; ETP - chemical separation to solar pond).
  • Zero Liquid Discharge: Yes, implemented. Facilities: Chennai (ETP 1 KLD, STP 4 KLD), Nashik (ETP 15 KLD, STP 15 KLD), SKBD (ETP 9 KLD).
  • Air Emissions: NOx: 101.08 Mg/Nm³, SOx: 17.81 Mg/Nm³, VOC: 1.50 Mg/Nm³.
  • GHG Emissions: Scope 1: 469.69 T CO2e, Scope 2: 1,106.89 T CO2e. Intensity per rupee turnover: 0.02 T CO2e/₹.
  • GHG Reduction Projects: None currently; planned for future.
  • Waste Management:
  • Total waste generated: 180.22 metric tonnes (Plastic: 29.45, Other Hazardous: 54.97, Other Non-hazardous: 95.80).
  • Waste intensity per rupee turnover: 0.0031 MT/₹.
  • Waste recycled: 4.88 MT.
  • Waste disposed: Incineration: 50.55 MT, Other disposal: 124.78 MT.
  • Practices: Segregation, storage, authorized recyclers/vendors for disposal. Hazardous waste minimization via substitution, process optimization, training.
  • Ecologically Sensitive Areas: Not Applicable.
  • Environmental Impact Assessments: NIL for the reporting year.
  • Environmental Compliance: Yes, fully compliant with Water Act, Air Act, Environment Protection Act. Holds necessary CTOs and permits.
Principle 7 (Responsible Public Policy Influence)
  • Trade Association Affiliations: NIL.
  • Anti-competitive Conduct: No adverse orders; not applicable.
Principle 8 (Inclusive Growth)
  • Social Impact Assessments (SIA): NIL for the reporting year.
  • Rehabilitation & Resettlement (R&R): NIL ongoing projects.
  • Community Grievance Mechanism: In development.
  • Input Sourcing: 50% from MSMEs/small producers (2025-26); 99.68% directly from India.
  • Job Creation in Smaller Towns: Wages paid - Rural: 31.63%, Urban: 25.18%, Metropolitan: 43.21%.
Principle 9 (Responsible Consumer Engagement)
  • Consumer Complaint Mechanism: Via email (askus@shalimarpaints.com).
  • Product Information Turnover: Environmental/social parameters: 65%, Safe usage: 100%, Recycling/disposal: 100%.
  • Consumer Complaints: Unfair Trade Practices: NIL received, NIL pending. Other: Previous FY - 1 received, 1 pending (consumer dispute case under appeal).
  • Product Recalls: NIL voluntary or forced recalls.
  • Cybersecurity/Data Privacy Policy: Yes, Data Protection Policy exists.
  • Corrective Actions: NIL for advertising, essential services, cybersecurity, data privacy, product recalls, or penalties.
  • Data Breaches: NIL instances.