Shashikumar,
the conveyor side skirt color cannot be changed separately from the conveyor's color (assuming you are looking at the newer conveyor module and not at the old legacy conveyors?). By default the conveyor surface is white while the side skirts are light gray. When you assign a different color to the conveyor through the visual tab of its GUI, the surface will get this exact color while the side skirt will be in a little darker shade of that color due to the original light gray.
Ralf
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