Kansai Nerolac Paints Ltd., a leading player in the paint industry, has announced its financial results for the quarter ended March 2024, revealing a significant increase in net profit, albeit missing street estimates. The company’s net profit surged over 18% to Rs 114.29 crore, as reported in an exchange filing.
Highlights of Kansai Nerolac Q4 Results (Consolidated Year-on-Year):
Revenue increased by 2.06% to Rs 1,769.39 crore.
EBITDA rose by 6.47% to Rs 179.01 crore.
Margin stood at 10.11%, up from 9.69%.
Net profit grew by 18.75% to Rs 114.29 crore.
In a strategic move to enhance its operational capabilities, Kansai Nerolac Paints has announced an investment of Rs 20.1 crore. The company plans to augment its capacity by 460 metric tonnes per month at its Sayakha plant. Additionally, an allocation of Rs 29.4 crore has been earmarked for expanding the capacity by 390 metric tonnes per month at its Bawal plant.

Anuj Jain, Managing Director at Kansai Nerolac Paints, commented on the company’s performance, stating, “The demand for industrial coatings, though good, moderated from the previous quarter. Decorative once again recorded double-digit volume growth. Raw material prices remained stable, and gross margins improved over the corresponding quarter last year due to benign raw material costs.”
Jain highlighted various strategic initiatives contributing to the company’s success, including investments in areas such as feet-on-street, digital transformation, influencer outreach, new product launches, approvals, and projects.
Looking ahead, Jain expressed optimism about the forecast of a good monsoon, which is expected to bode well for the paint industry.
Additionally, Kansai Nerolac Paints Ltd.’s board has recommended a dividend of Rs 3.75 for the financial year. This dividend includes a special dividend of Rs 1.25 per share. The dividend is slated to be payable on or after July 3, 2024, to shareholders registered as of June 21, 2024.
The company’s robust financial performance and strategic investments underscore its commitment to delivering value to shareholders while driving growth and innovation in the paint industry.