Shalimar Paints Limited — Credit Ratings, 03-06-2026: Credit Rating

CARE Ratings reaffirmed Shalimar Paints' Long-Term Bank Facilities at CARE BB+ with a 'Negative' outlook and Short-Term Facilities at CARE A4+. The 'Negative' outlook reflects continued operational losses and intense market competition. However, ratings are supported by significant financial infusions from promoter Hella and its group, crucial for maintaining liquidity and strengthening the company's overall financial profile.