Kansai Nerolac Paints Limited

NSE: KANSAINER · Paints

52W Range₹158 ₹264

Snapshot

Unlock Kansai Nerolac Paints Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Kansai Nerolac Paints Limited is a leading Indian manufacturer of decorative and industrial paints, coatings, and performance chemicals. The company provides a comprehensive range of products including interior and exterior wall paints, automotive coatings, and specialized industrial finishes.

Business Model

The company generates revenue through the manufacturing and distribution of paint systems, enamels, and protective coatings across decorative and industrial segments. It operates as a subsidiary of Kansai Paint Co., Ltd., leveraging global technical expertise to serve diverse sectors including automotive, construction, and electrical components.

  • Incorporation Year:1920

Growth Outlook

Growth is driven by sustained demand in the automotive sector and the expansion of the decorative paints market in India. The company continues to diversify its portfolio into construction chemicals and protective surface solutions to capture broader industrial and consumer spending.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of crude oil derivatives and pigments significantly impact operating margins.
  • Intense Market Competition. The Indian paint industry is highly competitive, with aggressive pricing strategies from both domestic and multinational players.
  • Cyclicality of End-User Industries. The company's industrial coatings segment is sensitive to cyclical downturns in the automotive and manufacturing sectors.
  • Regulatory and Environmental Compliance. Increasingly stringent environmental regulations regarding volatile organic compounds (VOCs) may necessitate higher capital expenditure for product reformulation.

Price

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Key Metrics

REVENUE

₹8,052 Cr

TTM · consolidated

+2.9%YoY

NET PROFIT

₹576 Cr

TTM · consolidated

-48.1%YoY

EPS

₹7.29

TTM · consolidated

-48.4%YoY

RETURN ON EQUITY

8.9%

TTM · consolidated

-10.3 ppYoY

RETURN ON CAPITAL EMPLOYED

12.1%

TTM · consolidated

-12.6 ppYoY

P/E

27.6x

Q4 FY26 · consolidated

27.6 vs 20.4x5Y avg

EV/EBITDA

14.4x

Q4 FY26 · consolidated

14.4 vs 17.2x5Y avg

EBITDA MARGIN

13.9%

TTM · consolidated

+0.1 ppYoY

NET PROFIT MARGIN

5.6%

Q4 FY26 · consolidated

+0.0 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

-0.01xYoY

Peers · Paints

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Kansai Nerolac Paints LimitedKANSAINER
13,06727.5614.402.9%13.9%8.9%12.1%-18.7%
Berger Paints India Ltd.BERGEPAINT
48,44751.5330.172.9%16.3%17.8%21.5%-11.8%
Akzo Nobel India Ltd.AKZOINDIA
13,0146.8921.9716.8%80.5%89.6%
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