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Kansai Nerolac Paints Ltd share Price

Company details

6M Return -1.68%
1Y Return 9.05%
Mkt Cap.(Cr) 23,758.29
Volume 786,950
Div Yield 0.61%
OI Chg %
Volume 786,950

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Demand recovery drives topline…

About The Stock

    Kansai is the global leader in industrial coatings (automotive). However, in the last 10 years, it has increased its decorative paint mix to 55% of its total topline. Currently, Kansai is the third largest decorative paint player in India.

    • Strong distribution network of ~28,000 dealers across the country with 75-80% penetration of tinting machine
    • In the last two years, KNL has increased its total paint manufacturing capacity by 28% to 5.3 lakh tonnes at an investment of ~₹ 1100 crore

Q4FY22 Results

    Lower volume offtake (in both decorative and industrial) and delay in passing of higher raw material prices dented profitability

    • The company reported price led revenue growth of 4% YoY to ₹ 1413 crore in Q4FY22. However, the lower volume growth was led by ~8% drop in the volume of decorative paints
    • Sharp rise in raw material prices and delay in passing on the same dragged gross & EBITDA margin down by 660 bps and 937 bps YoY, respectively
    • PAT declined 81% YoY to ₹ 25 crore, tracking lower margins

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Kansai Nerolac Paints Ltd.

Q4FY23 Quarterly & FY23 Annual Result Announced for Kansai Nerolac Paints Ltd.

Furniture/furnishing paints company Kansai Nerolac Paints announced Q4FY23 & FY23 results:

  • Q4FY23:
    • For Q4FY23, net revenue from operations of Rs 1,605 crore, a growth of 13.6 % over Q4FY22
    • EBIDTA was at Rs 153 crore, a growth of 83.8 % over Q4FY22
    • PAT was at Rs 94 crore, a growth of 283.2 % over Q4FY22
  • FY23:
    • For FY23, net revenue from operations of Rs 7,081 crore, a growth of 19.0 % over FY22
    • For FY23, EBITDA was at Rs 794 crore, a growth of 22.6 % over FY22
    • PAT for FY23 was Rs 486 crore, a growth of 29.9 % over FY22
    • The board has recommended a dividend of 270% (Rs 2.70 per share) for FY23, as compared to a total dividend of 225% (Rs 2.25 per share) for FY22
    • The board has considered and approved the Issue of 1 bonus equity share of face value Re 1 each against 2 equity shares of face value Re 1 each. This is subject to shareholders’ approval.

Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints, said, “During the quarter all businesses have done well. Though raw material prices have softened, for the year, inflation is still positive. Judicious cost management efforts were continued. This along with various initiatives undertaken in previous quarters has led to the gross margins improving both over the corresponding quarter last year and sequentially. The company continued with growth initiatives in Decorative and Performance coating. These initiatives which are in the area of feet on the street, digital interventions, influencer outreach, new product launches, approvals, and projects have gathered momentum. The results are encouraging, and these initiatives are being expanded to more cities. Looking forward demand is expected to remain healthy in the near term.”



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Investment recommendation

Demand recovery drives topline…
Call Date
10 May 2023
Entry Price 407.00
Target Price 440.00
12-18 Month


Operating Profit
Profit after Tax
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Operating Profit
Profit after Tax

Kansai Nerolac Paints Ltd Stocks COMPARISION


Equity Capital: 4,132.22 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 2,333.12 37,369.27
LAST 3M 16,668.82 53,102.69
LAST 6M 64,410.78 32,565.35
LAST 12M 119,684.93 75,969.00

Kansai Nerolac Paints Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Kansai Nerolac Paints Limited engaged in chemicals, decorative paints, and industrial finishing products coating which used on the finishing lines of electrical components, bus bodies, containers and has a market capitalization of Rs. 34,555.55 crores as of 25 August '2021. The company has reported its revenue income from operations of Rs. 1301.19 crores at the end of June 2021. The Bombay Stock Exchange (BSE) and National Stock Exchange have assigned the number 500165 and scrip code KANSAINER. As of June 2021, the Kansai Nerolac Paints Limited was trading at Rs. 595.59 (NSE).

    Kansai Nerolac Paints Limited was established in 1920; it’s a subsidiary of Kansai Paint of Japan. Its Headquarters is in Mumbai, Maharashtra. Kansai Nerolac Paint is the largest industrial paint and third-largest decorative paint company in India. As of 2015, it has the third-largest market share, with 15.4% within the Indian paint industry. Nerolac has been the first company in India to have launched an anti-viral paint, Excel Virus Guard, with anti-viral properties. In yet another ground-breaking innovation, it launched Nerolac Excel Multi-Surface Protection Sheets made with Japanese Shiqui Technology. As a result, KNPL was able to post profitability of 17.8% for the year gone by. The company has 2889 number of permanent employees on a roll as of 31 March 2021. The Promoter & Promoter group holding in the company has remained constant since the previous year, i.e., 74.99%, rest of the stake by Mutual Funds (7.56%), alternate Investment funds (0.083%), foreign portfolio investors (3.72%), Financial Institutions/Banks (0.0014%), Insurance Companies (3.93%) and others (9.71%).

    Net Turnover was Rs. 4,690 in F.Y.2020-21, down 5.1% Rs. 4,943.2 in F.Y. 2019-20. EBIDTA Margin has changed by 6.17% as of March 2021 (Rs. 833.08 crores) compared to March 2020 (Rs. 781.6 crores). From an EPS of Rs. 0.79 in June 2020, the EPS of KNPL has improved and reached an EPS of Rs. 2.20 per share in June 2021. Kansai Nerolac Paints Limited stock traded at Rs. 626.04 on 24 August '2021 (NSE) and has returned 16.72% in the last six months (On 24 March '2021 stock market price Rs. 521.35) and 54.53% in the last year.

Registered Address

Nerolac House Post Box-16322, Ganpatrao Kadam Mrg LowerParel, Mumbai, Maharashtra, 400013

Tel : 91-22-24934001
Email : investor:nerolac.com
Website : http://www.nerolac.com

TSR Consultants P Ltd

AGM Date (Month) : Jun
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 500165
Book Closure Date (Month) : Jun
BSE Group : A
ISIN : INE531A01024

FAQ’s on Kansai Nerolac Paints Ltd Shares

You can buy Kansai Nerolac Paints Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Kansai Nerolac Paints Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 31, 2023 03:59 PM the closing price of Kansai Nerolac Paints Ltd was ₹ 440.85.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of May 31, 2023 03:59 PM, the market cap of Kansai Nerolac Paints Ltd stood at ₹ 23,758.29.

The latest PE ratio of Kansai Nerolac Paints Ltd as of May 31, 2023 03:59 PM is 50.16

The latest PB ratio of Kansai Nerolac Paints Ltd as of May 31, 2023 03:59 PM is 0.19

The 52-week high of Kansai Nerolac Paints Ltd is ₹ 535.90 while the 52-week low is ₹ 358.15

According to analyst recommendations, Kansai Nerolac Paints Ltd has a “Buy” rating for the long term.

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