Kansai Nerolac Paints Ltd. share price target

Kansai Nerolac Paints Ltd Q3FY18 results comment Revenue fell by 1.94% to Rs. 1139.27 Cr in Q3FY18 when compared to the previous quarter

Kansai Nerolac Paints Limited (KNPL) is a paint company. The Company offers a range of products, including decorative, Automotive Coatings and Performance coatings. The Company has coating solutions across the Decorative, Wood Coatings, General Industrial, High Performance Coatings, Powder Coatings, Automotive and Auto Refinish market segments. The Company serves its customers through a network of approximately four manufacturing facilities located at Lote in Maharashtra, Bawal in Haryana, Jainpur in Uttar Pradesh and Hosur in Tamil Nadu and over hundred strategically located depots. The Company has a joint venture in Nepal with Kansai...

Revenue decreased by 0.72% to Rs. 1161.82 Cr in Q2FY18 when compared to the previous quarter Revenue decreased by 0.72% to Rs. 1161.82 Cr in Q2FY18 when compared to the previous quarter

Post GST, Kansai Nerolac (KNL) recorded strong volume growth of ~18% YoY (I-direct estimate) led by ~22%, ~10% YoY volume growth in decorative, industrial segment, respectively. This was largely led by restocking of inventory at dealer's level and betterthan-expected performance by automobile players in Q2FY18. However, during the period, the company passed on benefit to its dealers in terms of price cut to the tune of ~2% YoY. KNL recorded sales growth of ~16% YoY to | 1164.4 crore (adjusted with GST) Gross margin during the period declined ~250 bps YoY as the...

Revenue increased by 24.68% to Rs. 1170.23 Cr in Q1FY18 when compared to the previous quarter. Revenue increased by 24.68% to Rs. 1170.23 Cr in Q1FY18 when compared to the previous quarter.

Kansai Nerolac (KNL) recorded sales growth of 12% YoY to ~| 1174 crore (vs. I-direct estimate: | 1015 crore) led by strong volume growth of ~9% YoY (I-direct estimate). Industrial paint volume growth was supported by demand remaining intact in the passenger vehicle segments while continuous demand from tier II and tier III cities helped drive demand for decorative paint. Post demonetisation, the company has taken a price hike to the tune of ~2.5% YoY to pass on higher raw material prices...

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...

Kansai Nerolac Paints Limited (KNPL) is a paint company. The Company offers a range of products, including decorative, Automotive Coatings and Performance coatings. The Company has coating solutions across the Decorative, Wood Coatings, General Industrial, High Performance Coatings, Powder Coatings, Automotive and Auto Refinish market segments. The Company serves its customers through a network of approximately four manufacturing facilities located at Lote in Maharashtra, Bawal in Haryana, Jainpur in Uttar Pradesh and Hosur in Tamil Nadu and over hundred strategically located depots. The Company has a joint venture in Nepal with Kansai...

Revenue rose by 0.52% to Rs. 1005.06 Cr in Q3FY17 when compared to the previous quarter. Also, it rose by 6.96% when compared with Q3FY16.

Kansai Nerolac reported a good set of numbers for 3QFY17 with a ~7% growth in revenue at Rs.10.08 bn vs Rs.9.4 bn YoY driven by sustainable volume growth (~9%) despite demonetization. The company reported EBITDA growth of 31% YoY with margin expansion of ~332 bps to ~18%....