Shalimar Paints appoints Ashok Gupta as Managing Director

New Delhi, India, January 2, 2020- Shalimar Paints has announced the appointment of Ashok Gupta as its
Managing Director. He will also serve as the Vice Chairman at APL Apollo Tubes
Limited, where he was, until recently, working as the Managing Director.

Ashok Gupta, Managing Director, Shalimar Paints

In his new role
as the Managing Director, Ashok Gupta is responsible for overseeing the overall
operations of the brand while also framing successful growth strategies for the
brand. He has already facilitated an impressive turnaround for the brand and
led a successful rights issue worth INR 200 crore. These funds, made available
as working capital, have helped Shalimar Paints become EBITDA positive in the
current financial year and register a year-on-year business growth of more than
30%.

With over three
decades of rich experience, Ashok Gupta has held several leadership positions
across leading organizations including SAIL, Jindal Industries, Surya Roshni
among others. He holds a Master’s degree in Physics along with a PGDBA. He
brings to the table, unparalleled expertise in channelizing business
transformation by carefully developing strategies that fit best in the interest
of the company. He has a sharp financial and business acumen and is also a
great team player.

As the Managing
Director, Ashok Gupta will continue to propel the Shalimar Paints’ market
outreach and bolster internal operations to further advance the brand’s vision.