Akzo Nobel India Ltd.

NSE: AKZOINDIA · Paints

52W Range₹2,667 ₹3,868

Snapshot

Unlock Akzo Nobel India Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Akzo Nobel India Limited is a prominent manufacturer and distributor of paints and coatings, offering a diverse portfolio including decorative, industrial, and specialty coatings. The company serves a wide range of sectors such as infrastructure, automotive, packaging, and energy under well-recognised brands like Dulux, Sikkens, and Interpon.

Business Model

The company generates revenue through the sale of high-performance coatings and decorative paints to both retail consumers and institutional clients. It leverages its global parent's technical expertise to provide specialised solutions for industrial applications and infrastructure projects.

Growth Outlook

Growth is primarily driven by increasing urbanisation and infrastructure development in India, which boosts demand for decorative and protective coatings. Continued expansion in the industrial and automotive sectors provides further opportunities for market penetration.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of crude oil derivatives and other chemical inputs can significantly impact operating margins.
  • Intense Market Competition. The Indian paints and coatings sector is highly competitive, with both domestic and international players vying for market share.
  • Economic Cyclicality. Demand for industrial and automotive coatings is closely tied to broader economic growth and industrial production cycles.
  • Regulatory and Environmental Compliance. Stricter environmental regulations regarding chemical usage and emissions may necessitate increased capital expenditure for compliance.

Price

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Key Metrics

P/E

6.9x

Q4 FY26 · consolidated

6.9 vs 37.4x5Y avg

EV/EBITDA

22.0x

Q4 FY26 · consolidated

22.0 vs 24.3x5Y avg

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Paints

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Akzo Nobel India Ltd.AKZOINDIA
13,0146.8921.9716.8%80.5%89.6%
Berger Paints India Ltd.BERGEPAINT
48,44751.5330.172.9%16.3%17.8%21.5%-11.8%
Kansai Nerolac Paints LimitedKANSAINER
13,06727.5614.402.9%13.9%8.9%12.1%-18.7%
Indigo Paints LimitedINDIGOPNTS
3,50434.9818.854.8%19.1%13.9%17.5%-11.3%
Sirca Paints India LimitedSIRCA
2,36533.6821.5531.7%20.8%17.1%21.7%-5.8%
Shalimar PaintsSHALPAINTS
353-6.51-36.21-4.1%-2.7%-21.7%-12.2%-48.5%

As of Q4 FY26

Financials