NSE: KANSAINER | BSE: 500165

Mid-range Performer

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240.28 2.45 (1.03%)

25.03% Fall from 52W High

171.0K NSE+BSE Volume

NSE 02 Apr, 2025 3:31 PM (IST)

19,425.3

Market Cap

Below industry Median

0.6

Beta 1Year

Very Low volatility

MD Appointment

Kansai Nerolac Paints' board appoints Pravin Chaudhari as its new MD, effective April 1 See details

Kansai Nerolac Paints Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for KANSAINER, BSE:500165 Kansai Nerolac Paints Ltd.

Kansai Nerolac Paints Ltd.

04 Nov 2019

240.28

1.03%

Kansai Nerolac Paints

Buy: Kansai Nerolac Paints Ltd.

ICICI Securities Limited

Decorative segment grows with strong volume growth KNL has recorded strong volume growth of ~12% YoY (I-direct estimate) in the decorative paint segments, despite extended monsoon and almost nil sales in the Jammu & Kashmir regions where company has a major presence. We believe the performance of decorative segment will remain strong in FY19-21E (with volume CAGR of 13%) supported by strong demand from tier II and tier III cities and shorter repainting demand. On the industrial front, the management expects improvement in the performance...

Kansai Nerolac Paints Ltd. has lost -22.86% in the last 6 Months

Kansai Nerolac Paints Ltd.

01 Nov 2019, 12:00AM

240.28

1.03%

Q2FY20 Result Update

Accumulate: Kansai Nerolac Paints Ltd.

Target

Prabhudas Lilladhar

by ~30% despite double digit volume growth in decorative paints. Though decorative paint business has slowed down QoQ (prolonged monsoons, flooding in key states and lower off-take in Kashmir - KNPL has 60% share), structural drivers like shift towards organized sector, housing push in Tier2/3 cities and shorter painting cycle....

Number of FII/FPI investors decreased from 195 to 188 in Dec 2024 qtr

Kansai Nerolac Paints Ltd.

18 Oct 2019

240.28

1.03%

Kansai Nerolac Paints

Buy: Kansai Nerolac Paints Ltd.

Recommendation Target

ICICI Securities Limited

The recent tax cut by the government from 33% to 25.2% is likely to boost earnings of Kansai Nerolac (Kansai) by 3% and 6% for FY20E and FY21E respectively. We change our earnings estimates and target price accordingly. We believe a tax cut would help demand revival in both decorative and industrial paint demand (with revival in automotive industry). This would also help organised players to gain market share from the...

Number of FII/FPI investors decreased from 195 to 188 in Dec 2024 qtr

Kansai Nerolac Paints Ltd.

31 Jul 2019

240.28

1.03%

Kansai Nerolac Paints

Hold: Kansai Nerolac Paints Ltd.

Target

ICICI Securities Limited

The industrial paint remained a drag for KNL due to the unprecedented slowdown in the automotive segment. However, a shift in focus towards other industrial categories like coil coating and functional powder coating helped offset poor volume demand from the automotive industry. This, along with strong growth in the decorative segment (despite a higher base of 14% growth in Q1FY19) drove its performance in Q1FY20. Strong demand for decorative paint would be largely driven by demand remaining intact in tier II, tier III cities and a shorter repainting cycle. We model revenue...

Kansai Nerolac Paints Ltd. is trading above its 50 day SMA of 235.9

Kansai Nerolac Paints Ltd.

29 Jul 2019

240.28

1.03%

Q1FY20 Result Update

Accumulate: Kansai Nerolac Paints Ltd.

Target

Prabhudas Lilladhar

We expect automotive paints demand to remain under pressure in the near term with recovery unlikely before festive season in 3Q19 and improvement in consumer sentiments. Inputs costs have peaked out and remained relatively stable enabling 200bps QoQ gross margin expansion. We believe that worst seems over on the margin front. We adjust the numbers for IndAS 116 only and estimate CAGR of 13.5% in volumes, 11.7% in revenues and 15.6% in PAT over FY19-21. Kansai is trading at 37.4xFY21 EPS. We value the stock at 40xJune21 EPS of Rs12 and arrive...

Number of FII/FPI investors decreased from 195 to 188 in Dec 2024 qtr

Kansai Nerolac Paints Ltd.

03 May 2019

240.28

1.03%

Kansai Nerolac Paints

Hold: Kansai Nerolac Paints Ltd.

Recommendation Target

ICICI Securities Limited

KNL has increased its revenue contribution in decorative paints from 50% in FY09 to 55% in FY19. Further, capex of | 1100 crore to expand paint manufacturing capacity from 3.9 lakh tonnes (lt) to 5.5 coupled with strong decorative paint demands (at CAGR of 13%) would help drive overall volume CAGR at ~10% in FY19-21E. Strong demand for decorative paint would be largely driven by demand remaining intact from tier II, tier III cities and a shorter repainting cycle. Further, in the industrial paint category, KNL has not lost market share despite lower volume growth. We believe a gradual...

Kansai Nerolac Paints Ltd. is trading above its 50 day SMA of 235.9

Kansai Nerolac Paints Ltd.

03 May 2019

240.28

1.03%

Kansai Nerolac

Sell: Kansai Nerolac Paints Ltd.

Dolat Capital

Kansai's results were lower than our estimates. Revenue rose a mere 4.5% YoY to `11.5bn subdued performance after seven quarters of double digit growth. The decorative segment volume growth was in high single digit, but industrial segment fell 5% due to automobile industry slowdown. Given continued pressure in auto sales volume, we believe the industrial segment will continue to be impacted. We have revised our FY20E and FY21E revenue estimates to factor in lower growth in the automotive business....

Kansai Nerolac Paints Ltd. is trading above its 50 day SMA of 235.9

Kansai Nerolac Paints Ltd.

30 Jan 2019

240.28

1.03%

Kansai Nerolac Paints

Buy: Kansai Nerolac Paints Ltd.

Recommendation Target

ICICI Securities Limited

Kansai Nerolac (KNL) recorded strong topline growth of ~18% led by volume growth of ~14% (I-direct estimate). The volume growth was largely driven by strong festive demand of decorative paints but industrial paint (topline contribution of ~45%) offtake remain sluggish due to inferior automotive paint demand from its key client. On the margin front, gross margin stayed under pressure (down 550 bps YoY) mainly due to higher raw material prices and inability to pass on higher raw material prices in the industrial paint category. As...

Number of FII/FPI investors decreased from 195 to 188 in Dec 2024 qtr

Kansai Nerolac Paints Ltd.

29 Jan 2019

240.28

1.03%

Q3FY19 Result Update - Trough margins, watch out for auto volume recovery

Accumulate: Kansai Nerolac Paints Ltd.

Target

Prabhudas Lilladhar

Expect QoQ margin expansion given decline in input costs and stable USD/INR We retain positive view and Accumulate rating on Kansai given strong decorative volume growth of 21% despite 10% volume growth in Industrial paints and gross margin decline of 550bps YoY and 200Bps QoQ. We believe that Inputs cost pressures have peaked out and expect QoQ margin...

Number of FII/FPI investors decreased from 195 to 188 in Dec 2024 qtr

Kansai Nerolac Paints Ltd.

23 Oct 2018

240.28

1.03%

Kansai Nerolac Paints

Hold: Kansai Nerolac Paints Ltd.

Target

ICICI Securities Limited

Kansai Nerolac's (KNL) Q2FY19 performance was largely hit by higher raw material prices leading to ~466 bps YoY fall in gross margin. Overall volume growth at ~9% in Q2FY19 was led by decorative paint segment due to pre-festive placements at dealer's level. However, we believe slower industrial paint volume growth was mainly due to inferior automotive paint demand from its key client. KNL expects double digit volume growth across the paint category led by the decorative segment in the next two years owing...

Kansai Nerolac Paint.. has an average target of 268.00 from 2 brokers.

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Is Kansai Nerolac Paints Ltd. worth buying?

178 Votes:

Buy 80.9%

Sell 10.67%

Hold 8.43%

RESEARCH REPORTS

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