Name: Latest research reports of Kansai Nerolac Paints Ltd. authored by Geojit BNP Paribas and published by - Trendlyne research reports.
Item: Kansai Nerolac Paints Ltd.
Rating: 4
Author: Geojit BNP Paribas

KANSAI NEROLAC

Accumulate: Kansai Nerolac Paints Ltd.

Geojit BNP Paribas

KNPL is the market leader in the Industrial paints and third largest decorative paint company in India. KNPL's decorative business registered a volume growth of ~9% YoY while industry segment volume remains at low single digit. Revenue during the quarter increased by 14% YoY supported by festival demand and 21% price hike in decorative paints. However, EBITDA margin declined by 741bps YoY to 11.7% in Q3FY22 due to inflation in input prices & higher other expenses....