Kansai Nerolac Paint

₹276.2 -1.9 | 0.7%

WEBSITE BSE:500165 NSE : KANSAI NERO 09 Dec, 12:12

Market Cap ₹22328 Cr.

Stock P/E 19.0

P/B 4

Current Price ₹276.2

Book Value ₹ 69.8

Face Value 1

52W High ₹355

Dividend Yield 1.36%

52W Low ₹ 252.2

Edit Ratio

Kansai Nerolac Paint Research see more...

Research Report on Kansai Nerolac Paints

Overview Inc. Year: 1920Industry: Paints

Kansai Nerolac Paints Ltd is an India-based paint organization. The Company is mainly engaged inside the production of paints. It gives a number of products, together with car coatings, powder coatings, overall performance coatings liquid and auto refinish. Its automotive coatings consist of cathodic electro deposition (CED) and acrylic cathodic electro deposition (ACED) primer, monocoat metallics, high mar resistant clear coats and heat resistant paints, amongst others. Its powder coatings include epoxy polyester powder, epoxy powder, natural polyester polyurethane, heat resistance powder, rebar coatings, pipe coating powders, superb durable powders and bonded metal powders. Its performance coatings liquid consists of floor coatings, pipe coatings, coil coatings, zinc-rich coatings, epoxy coatings and chlorinated rubber coatings, amongst others. Its auto refinishes includes polyurethane paints, polyester, nitrocellulose (NC) and NC acrylic-NAP, and body fillers, among others.

Kansai Nerolac Paint Share Price

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Peer Comparison

Kansai Nerolac Paint Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	2051	1931	1827	1734	2157	1957	1919	1769	2133	1951
Other Income	5	4	7	10	17	22	20	33	34	27
Total Income	2056	1935	1834	1743	2174	1979	1939	1802	2167	1978
Total Expenditure	1796	1732	1631	1565	1825	1683	1675	1590	1803	1739
Operating Profit	260	203	203	178	349	295	264	212	363	239
Interest	8	6	7	7	7	8	7	7	7	7
Depreciation	43	45	46	46	47	47	48	48	48	49
Exceptional Income / Expenses	0	0	0	0	661	0	0	0	0	0
Profit Before Tax	208	152	149	125	956	240	208	157	308	183
Provision for Tax	56	41	40	29	222	65	56	42	83	63
Profit After Tax	152	111	109	96	734	175	152	114	225	120
Adjustments	4	2	1	-2	4	2	2	2	6	3
Profit After Adjustments	156	114	110	94	738	177	154	116	231	123
Adjusted Earnings Per Share	1.9	1.4	1.4	1.2	9.1	2.2	1.9	1.4	2.9	1.5

Kansai Nerolac Paint Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	3193	3587	3767	4053	4658	5424	5280	5074	6369	7543	7801	7772
Other Income	10	22	28	98	71	61	26	38	25	26	92	114
Total Income	3203	3609	3794	4151	4729	5485	5306	5112	6395	7569	7893	7886
Total Expenditure	2827	3136	3183	3315	3864	4672	4476	4211	5720	6725	6774	6807
Operating Profit	376	473	611	835	865	813	830	901	675	844	1120	1078
Interest	2	1	0	0	1	10	21	24	29	29	29	28
Depreciation	65	68	67	70	77	106	142	165	170	180	190	193
Exceptional Income / Expenses	0	0	535	0	0	0	0	0	0	0	661	0
Profit Before Tax	310	404	1079	765	787	697	667	712	476	635	1561	856
Provision for Tax	101	128	177	255	273	249	151	187	133	166	385	244
Profit After Tax	209	275	902	510	514	448	516	526	343	468	1176	611
Adjustments	-1	-1	-1	-1	1	5	5	4	16	5	10	13
Profit After Adjustments	208	274	901	509	514	453	521	530	359	474	1185	624
Adjusted Earnings Per Share	2.6	3.4	11.1	6.3	6.4	5.6	6.4	6.6	4.4	5.9	14.7	7.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	3%	15%	8%	9%
Operating Profit CAGR	33%	8%	7%	12%
PAT CAGR	151%	31%	21%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-16%	-11%	-5%	8%
ROE Average	23%	14%	14%	18%
ROCE Average	31%	19%	19%	24%

Kansai Nerolac Paint Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	1426	1601	2510	2815	3132	3416	3760	4053	4132	4534	5583
Minority's Interest	4	5	6	15	16	20	22	36	19	27	16
Borrowings	57	46	29	18	10	4	23	17	11	5	15
Other Non-Current Liabilities	95	101	17	79	82	127	161	186	221	235	276
Total Current Liabilities	698	620	678	709	890	950	917	1241	1326	1507	1521
Total Liabilities	2280	2373	3240	3636	4130	4518	4884	5533	5709	6306	7410
Fixed Assets	922	916	937	957	1035	1465	1906	1912	1996	2108	2182
Other Non-Current Assets	107	130	118	289	510	733	489	443	483	395	479
Total Current Assets	1251	1327	2185	2390	2585	2320	2489	3178	3230	3803	4749
Total Assets	2280	2373	3240	3636	4130	4518	4884	5533	5709	6306	7410

Kansai Nerolac Paint Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	61	55	34	478	55	61	26	104	24	-12	37
Cash Flow from Operating Activities	195	305	392	351	360	100	595	646	25	408	903
Cash Flow from Investing Activities	-113	-239	144	-557	-163	88	-376	-453	250	-227	-590
Cash Flow from Financing Activities	-87	-87	-92	-216	-192	-223	-141	-274	-309	-133	-249
Net Cash Inflow / Outflow	-6	-21	444	-422	6	-35	78	-81	-35	49	64
Closing Cash & Cash Equivalent	55	34	478	55	61	26	104	24	-12	37	101

Kansai Nerolac Paint Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	2.57	3.39	11.15	6.29	6.36	5.6	6.45	6.55	4.44	5.86	14.66
CEPS(Rs)	3.38	4.25	11.99	7.18	7.31	6.85	8.14	8.55	6.35	8.02	16.9
DPS(Rs)	1.1	1.4	3.05	3	2.6	2.6	3.15	5.25	1.5	1.8	3.75
Book NAV/Share(Rs)	17.64	19.81	31.05	34.82	38.75	42.26	46.52	50.14	51.12	56.04	68.86
Core EBITDA Margin(%)	9.73	10.61	12.55	14.75	14.99	12.57	13.65	15	9	9.6	11.74
EBIT Margin(%)	8.27	9.51	23.2	15.3	14.87	11.81	11.67	12.79	7	7.79	18.16
Pre Tax Margin(%)	8.22	9.49	23.2	15.3	14.86	11.64	11.32	12.38	6.6	7.45	17.83
PAT Margin (%)	5.54	6.47	19.39	10.2	9.7	7.48	8.75	9.13	4.76	5.5	13.43
Cash Profit Margin (%)	7.26	8.08	20.84	11.6	11.16	9.26	11.17	12.01	7.11	7.61	15.6
ROA(%)	9.56	11.83	32.14	14.84	13.23	10.35	10.97	10.09	6.1	7.8	17.15
ROE(%)	15.38	18.18	43.88	19.16	17.28	13.67	14.37	13.46	8.38	10.82	23.29
ROCE(%)	21.76	25.71	51.29	28.35	26.21	21.12	18.43	18.03	11.8	14.71	30.59
Receivable days	43.52	42.22	41.63	41.45	44.56	44.47	47.78	55.28	51.86	49.93	53.62
Inventory Days	58.43	52.09	44.65	46.93	52.8	59.17	65.64	69.96	71.53	71.94	71.2
Payable days	79.3	65.74	76.03	96.98	92.68	82.89	81.04	99.24	88.47	75.33	80.7
PER(x)	30.3	42.51	16.84	40.03	52.82	54.43	39.94	61.1	70.16	43.92	17.88
Price/Book(x)	4.42	7.28	6.04	7.24	8.67	7.21	5.53	7.99	6.09	4.59	3.81
Dividend Yield(%)	0.94	0.65	1.08	0.79	0.52	0.57	0.82	0.87	0.48	0.7	1.43
EV/Net Sales(x)	1.98	3.25	3.91	4.97	5.76	4.54	3.94	6.39	3.97	2.76	2.7
EV/Core EBITDA(x)	16.77	24.68	24.11	24.1	31.04	30.32	25.06	35.96	37.46	24.69	18.81
Net Sales Growth(%)	11.38	12.33	5.02	7.58	14.94	16.45	-2.66	-3.9	25.52	18.42	3.43
EBIT Growth(%)	-26.25	29.78	166.86	-29.09	2.92	-10.27	-2.67	7.02	-31.4	31.46	139.56
PAT Growth(%)	-28.93	31.88	227.78	-43.45	0.72	-12.86	15.22	1.93	-34.73	36.52	151
EPS Growth(%)	-29.06	31.78	228.76	-43.52	1.09	-11.99	15.08	1.68	-32.26	31.97	150.3
Debt/Equity(x)	0.05	0.03	0.02	0.01	0.01	0.03	0.05	0.04	0.05	0.04	0.02
Current Ratio(x)	1.79	2.14	3.22	3.37	2.9	2.44	2.71	2.56	2.44	2.52	3.12
Quick Ratio(x)	0.85	1.25	2.36	2.38	1.97	1.27	1.61	1.6	1.21	1.38	2.01
Interest Cover(x)	174.09	439.59	0	0	1175.57	70.89	32.9	31.01	17.66	22.89	54.45
Total Debt/Mcap(x)	0.01	0	0	0	0	0	0.01	0.01	0.01	0.01	0.01

Kansai Nerolac Paint Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99
FII	3.28	3.45	3.32	3.88	4.21	4.28	4.28	4.72	5.09	5.56
DII	13.39	13.27	13.34	12.81	12.3	11.9	11.84	11.6	10.74	10.28
Public	8.34	8.29	8.35	8.31	8.5	8.83	8.89	8.68	9.19	9.17
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	40.41	40.41	40.41	40.41	40.41	60.62	60.62	60.62	60.62	60.62
FII	1.77	1.86	1.79	2.09	2.27	3.46	3.46	3.82	4.11	4.5
DII	7.22	7.15	7.19	6.91	6.63	9.62	9.57	9.38	8.68	8.31
Public	4.5	4.47	4.5	4.48	4.58	7.14	7.18	7.02	7.43	7.41
Others	0	0	0	0	0	0	0	0	0	0
Total	53.89	53.89	53.89	53.89	53.89	80.84	80.84	80.84	80.84	80.84

Pros

Company has delivered good profit growth of 21% CAGR over last 5 years
Company is almost debt free.

Cons

Company has a low return on equity of 14% over the last 3 years.
Debtor days have increased from 75.33 to 80.7days.
Stock is trading at 4 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Kansai Nerolac Paint News

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Kansai Nerolac Paint

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Kansai Nerolac Paint Research see more...

Overview Inc. Year: 1920Industry: Paints

Kansai Nerolac Paint Share Price

Alert Data

Quarterly Price

Peer Comparison

Kansai Nerolac Paint Quarterly Results

Kansai Nerolac Paint Profit & Loss

Growth Rates

Kansai Nerolac Paint Balance Sheet

Kansai Nerolac Paint Cash Flow

Kansai Nerolac Paint Ratios

Kansai Nerolac Paint Shareholding Pattern

Kansai Nerolac Paint News

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