NSE: KANSAINER · BSE: 500165 · ISIN INE531A01024
Kansai Nerolac Paints Limited stock analysis
Kansai Nerolac Paints Limited ranks #1914 in the TickerSutra evidence-ranked universe with a score of 50/100 and 95% data confidence. The latest captured fundamentals show ROCE of 12.0%, quarterly sales growth of 9.8% and quarterly profit growth of 4.8%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.05×
- Strong CFO/EBITDA of 0.92×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹6,369cr | ₹649cr | ₹343cr | 10.0% |
| 2023 | ₹7,543cr | ₹818cr | ₹468cr | 11.0% |
| 2024 | ₹7,801cr | ₹1,028cr | ₹1,176cr | 13.0% |
| 2025 | ₹7,823cr | ₹942cr | ₹1,109cr | 12.0% |
| 2026 | ₹8,052cr | ₹975cr | ₹576cr | 12.0% |
| TTM | ₹8,263cr | ₹1,000cr | ₹589cr | 12.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
As we operate in this dynamic and evolving environment, we remain firmly committed to innovation, quality, and operational excellence, ensuring we can meet the changing requirements of the industrial coatings market. Building on an already strong foundation in the Automotive segment, the Company further strengthened its market leadership during the year by gaining market share and reinforcing its position as a market
Currency Fluctuations: Fluctuations in foreign exchange rates and changes in import duties, quality control orders, and compliance standards can influence input costs and profitability. Intensifying Competition: New entrants and capacity expansion across the industry may increase pricing pressure. Data Security: Greater reliance on digital systems exposes operations to cybersecurity and data protection risks.
Project Sales Conference Dukaan it Yourself Campaign at Mahakumbh 156 KANSAI NEROLAC PAINTS LIMITED • 105th Annual Report 2026 Industrial Business Overview Automotive Business Overview India is witnessing sustained investments in infrastructure development, which continue to drive demand for industrial paints. As one of the world’s largest automotive markets, the country is experiencing strong growth, supported by ri
We also boosted our influencer relationships via the Illuminati Programme and industry participation, while improving retail visibility with more than 150 Nerolac NxtGen Shoppes, 250 Shop-in-Shop units, and over 250 Paint Zone touchpoints. Project Business continued its expansion through wider geographic reach, offering specialised products, and increasing engagement with contractors. Notable projects include the Jha
To address this, we implemented Automated Biocide Handling and Dosing System at our Goindwal Sahib paint manufacturing facility. The initiative resulted in improved employee safety, enhanced process reliability, regulatory compliance, and measurable reductions in chemical exposure and operational risk. We have replicated this initiative at our Jainpur and Hosur plants, with plans underway to extend it across all othe
However, the automobile association is still predicting robust growth for next year. Another supporting factor is that automotive companies in India are investing heavily in capacity expansion. In fact, based on our projections, they are expected to double their production capacity by 2030.
Inventory control was the key theme we tackled, with employee-generated ideas carefully evaluated and the strongest ones put into practice. The impact found its way into a measurably improved cash conversion cycle. Continuous innovation, robust R&D processes, and effective knowledge management are what keep our pipeline moving forward and our leadership position intact.
The second lever is optimizing our sales and SG&A expenses and ensuring that our spending is more effective. Page 6 of 13 Together, these two levers—growing into niche, premium segments while tightly managing and optimizing our expenditures—should help us deliver higher margins over the course of this mid-term plan. Omura: Is it correct to understand that performance is tracking in line with the medium-term plan?
Looking ahead, we aim to steadily improve the ecological value of our sites and, wherever possible, extend these efforts beyond our facility boundaries in partnership with local communities. Tree Plantation at Goindwal Sahib Plant 81 CORPORATE OVERVIEW S F < ) 106th Annual Report 2026 • Greenbelt Development at the Goindwal Sahib Plant Greenbelt Development All our manufacturing facilities are located within designat
For now, it appears that the same strategy is being pursued, but at a higher cost, and it remains to be seen whether this will bear fruit over time. As far as the industrial segment is concerned, it is important to recognize that there Page 5 of 13 are players operating at the bottom of the pyramid, where margin pressure is clearly higher. For multinational players like us, the strategy is focused on premiumization—
Accordingly, we will face whatever competition emerges. However, in the industrial segment, we remain confident that it will take a long time before competition poses a serious threat to our position. Omura: I would like to ask about the room for cost reductions.
Manager – Listing National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400051 Sub.: Transcript - Analyst / Institutional investors meet by Kansai Paint Co., Ltd., Japan, Promoter of our Company Ref.: 1. Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 2.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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