Sameer Nagpal to Drive Growth for Shalimar Paints as New Managing Director & CEO

MUMBAI, August 12, 2013 /PRNewswire/ --

Targets Doubling Revenue in Three Years, Aiming to be the Fastest Growing Paint Company in India

Shareholders of Shalimar Paints Ltd unanimously approved and ratified Sameer Nagpal as Managing Director and CEO, effective May 25 2013 at their 111th Annual General Meeting (AGM) held on 6th August 2013 at their registered office.

Speaking on his appointment, Sameer Nagpal, said, "I am excited to be a part of the paint industry which is poised to grow 2-3 times the GDP. The consolidated nature of the industry offers a huge potential to company like Shalimar which has a 111 year old history. We are now looking at growing 3-4 times the market rate as the company has huge latent equity and a strong portfolio of brands whose potential is waiting to be unlocked."

Girish Jhunjhnuwala, Chairman, Shalimar Paints added, "Shalimar Paints has under-performed despite its 100 year old history. Sameer joins Shalimar Paints at a crucial juncture in its transformation and we are sure under his dynamic leadership the company will be an outperformer."

Sameer has multi-functional management experience of diverse businesses in consumer, commercial and industrial segments. Over the last few years Sameer has led rapid growth of businesses in both Indian and multinational companies. In his last assignment with Ingersoll Rand, he was responsible for devising business transformation strategy and start-up of a new business in the consumer durable domain. His prior assignments with Zicom Electronic Security and Carrier Air-conditioning saw significant scaling up of businesses. Sameer is a strong proponent of green, avid pursuer of technology and an active member of various industry forums.

About Shalimar Paints

Shalimar Paints is India's oldest paints and coatings company with a heritage of 111 years. It has 3 three manufacturing units and strong footprint across the nation with more than 54 branches and depots. The company has a wide product range in decorative and industrial segments. The decorative business cover both interior and exterior paints where it has a number of flagship brands including Husain Collection, No. 1 PAD and Superlac. The company also has tinting systems under the brand name "Color Space" where it offers more than 10,000 shades across all product lines to its customers.

Primary Media Contact: Ketan Girap, 91-22-28576147

Secondary Media Contact: Shakun Kulshreshtha, [email protected], 91-98-67203771