We wish to inform you that the Board of Directors("Board") of Shalimar Paints Limited ("Company') at its meeting held today i.e. May 23, 2020, has approved the diversification into the hygiene segment with launch of sanitizer and disinfectant.

This initiative besides reinforcing the Company's commitment of being a responsible corporate is also in line with the vision of our Prime Minister of an 'Atmanirbhar Bharat'. The Company will leverage the synergies between the existing business of manufacturing paints for the raw material and manufacturing process as well as the distribution network around the Country for this diversification.

The disclosure to be made by the Company pursuant to the SEBI Circular dated September 09, 2015, is provided as under: