ICICI Securities Ltd | Retail Equity Research Post demonetisation, Kansai Nerolac (KNL) recorded sales growth of 8% YoY to ~| 941.5 crore (vs. I-direct estimate: | 890 crore) led by strong volume growth of ~14% YoY. A strong revival in demand helped the decorative segment volume growth of 16% while industrial paint volume grew ~12% YoY during Q4. However, realisation was hit by ~5% YoY mainly due to a change in the product mix coupled with some trade discounts during Q4FY17...