Kansai Nerolac Paints Ltd.

KANSAINER

₹249.8

1.57% (3.85)

Market Cap

₹19,922 Cr.

P/E

17.43

About

Kansai Nerolac Paints Limited (KNPL) is a leading player in the Indian Paint industry, offering innovative coating solutions. KNPL is known for its quality, manufacturing excellence, and customer-focu… Read more

Kansai Nerolac Paints Limited (KNPL) is a leading player in the Indian Paint industry, offerin… Read more

Low

218

52W Range

High

321

Timeline

Key company specific updates

Company Timeline

Custom financial statementNew

Edit rows

In Rs. Cr.	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

In Rs. Cr.	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Balance sheet
Net Block	937	957	1,035	1,465	1,906	1,912	1,996	2,108	2,182	2,246
Shareholders Funds	2,510	2,815	3,132	3,416	3,760	4,053	4,132	4,534	5,583	6,423
Profit & Loss
Operating Profit	584	737	794	753	804	863	649	818	1,028	942
Net Sales	3,767	4,053	4,658	5,424	5,280	5,074	6,369	7,543	7,801	7,823
Cash flow
Cash from Operating Activity	392	351	360	99.92	595	646	24.77	408	903	672
Net Capex (est)	-451	217	343	525	239	101	218	-40.59	-372	-284
Ratios
ROCE (%)	21.23	26.14	24.31	19.81	17.34	17.15	11.52	13.83	15.78	13.00
ROE (%)	35.90	18.08	16.42	13.25	13.86	13.07	8.68	10.45	21.23	17.79

Forensics

10 Yes

Positive for this company

2 Neutral

Neutral for this company

5 No

Negative for this company

0 No Data

Insufficient data to analyse

Accounting & Shareholding

Contingent Liabilities

Company does not have significant contingent liabilities
Other Income

Other income is not affecting ratios of the company
Pledge

Promoters have not pledged a significant portion of their holding
Revenue Recognition

Company is converting accounting profit to cash
Promoter Holding

Promoter has not sold any shares in the last 90 days
Depreciation Effect

Company is depreciating a lower percentage of assets. this is contributing to an increase in net profit
Retail Holding

Retail has been buying the stock which is usually a sign of exuberance

Price & Performance

Capex vs ROCE

Roce of the company has increased over the last three years
ROE

Net profit margin is responsible for roe increase over last 10 years
Share price

Share price has increased over last 10 years due to earnings
Working Capital

Working capital of the company seems to be under control
Current vs Historic Valuation

Company is trading at a discount to 3yr historic valuations
Debt

Company should not have issues servicing its debt
Balance Sheet Strength

Balance sheet of the company is strong. but it might have issues paying it suppliers
Sales Growth

Sales of the company has grown at a slow pace
Margin Stability

Margins of the company are volatile
ROCE Strength

Roce of the company is not consistently strong

Market Share

50 %

(as of Jun 22)

Source/Historic

Automobile Paints - Market Share

75 %

(as of Mar 23)

Source/Historic

Decorative Paints - Market Share

45 %

(as of Dec 22)

Source/Historic

Industrial Paints - Market Share

Revenue mix

Product Wise Break-Up

Segment Break-Up

Location Wise Break-Up

Raw Material Break-Up

Operational Metrics

Capacity Utilization - Paints & Coatings (%)

Kansai Nerolac Paints Ltd.

Capacity Utilization - Paints & Coatings (%)
Source
Volume Growth - Paints (%)
Source

Peer Comparison

Peer Name	Latest Price	PE	Market cap(Cr)	Prom Holding(%)	YoY Qtly Sales(%)	ROCE (%)	ROE (%)
Kansai Nerolac Paint	245.95	17.43	19,922	74.98	2.67	13	17.79
Akzo Nobel India	3,636.2	38.59	16,574	74.76	5	19.47	32.29
Indigo Paints	1,200.5	40.3	5,713	53.92	0.7	20.39	16.33
SIRCA Paints India	418.3	46.81	2,296	67.55	22.35	22.38	16.66
Shalimar Paints	96.24	0.00	804	74.96	23.27	-14.32	-18.78
Berger Paints India	556.85	55.02	64,940	74.98	7.29	20.61	21.71
Asian Paints	2,401.6	62.8	2,30,303	52.63	-4.26	25	18.9
Brainbees Solutions	385.4	0.00	20,114	—	15.81	-3.58	-8.65

Corporate Actions

Consolidated BonusDividendSplit

DATE

DETAILS

2025, Jun 23

Dividend Dividend of Rs.1.25 per share

2025, Jun 23

Dividend Dividend of Rs.2.5 per share

2024, Jun 21

Dividend Dividend of Rs.1.25 per share

2024, Jun 21

Dividend Dividend of Rs.2.5 per share

2023, Jul 04

Bonus 1 bonus shares for every 2 held. Bonus shares should be credited within 3 days after the ex-date.

Suppliers

Atul Ltd.
IG Petrochemicals Ltd.
Gulshan Polyols Ltd.
20 Microns Ltd.
MMP Industries Ltd.
Mangalam Organics Ltd.

Showing 5 of 6

Customers

Ashok Leyland Ltd.
Bajaj Auto Ltd.
Eicher Motors Ltd.
Hero MotoCorp Ltd.
TVS Motor Company Ltd.
Honda
Mercedes-Benz
Suzuki
Volkswagen
Volvo
Yamaha

Showing 5 of 11

FAQs on Kansai Nerolac Paints Ltd. Business

What does Kansai Nerolac Paint do?

Kansai Nerolac Paints Limited is a leading player in the Indian paint industry, offering innovative coating solutions to customers. With a focus on quality and manufacturing excellence, the company serves both decorative and industrial segments.

Who are the competitors of Kansai Nerolac Paint?

Kansai Nerolac Paint major competitors are Akzo Nobel India, Indigo Paints, SIRCA Paints India, Shalimar Paints, Berger Paints India, Asian Paints, Brainbees Solutions.
Market Cap of Kansai Nerolac Paint is ₹19,922 Crs.
While the median market cap of its peers are ₹16,574 Crs.

Is Kansai Nerolac Paint financially stable compared to its competitors?

Kansai Nerolac Paint seems to be less financially stable compared to its competitors.
Altman Z score of Kansai Nerolac Paint is 9.5 and is ranked 4 out of its 8 competitors.

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Companies which are dominant in a product, usually having a strong moat.

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Discussions & Analysis

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Kansai Nerolac Paints Ltd.