Shalimar Paints reported its second consecutive cash positive quarter after 14 quarters despite the bottomline being impacted by tax expenses. Ashok Gupta, Managing Director of the company spoke to CNBC-TV18 to give Q3 fineprint and outlook for 2021.

Talking about the topline, Gupta said, “We have reported second consecutive quarter of cash positive and our revenues in this quarter are flat as compared to last year even though they have been growing quarter-on-quarter (QoQ). This quarter we had a good growth of around 10 percent in the decorative segment, but on the industrial segment we have not been able to grow much.”

On margin outlook, he said we are looking at good growth as compared to last year. “Margins we had 6.3 percent EBITDA last quarter, margins will improve from here onwards.”

While on raw material cost, “There has been some increase in the cost of raw materials, we have been able to pass part of it to the market, and balance part has still to be passed on. However, because of the rise in revenues, our margins will continue to grow.”

Watch the video for more

(Edited by : Ajay Vaishnav)

First Published:Feb 16, 2021 12:32 PM IST