Declared Dividend • May 08
Dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 29th June 2026 Payment date: 8th August 2026 Dividend yield will be 1.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 07
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹7.29 (down from ₹14.14 in FY 2025). Revenue: ₹82.0b (up 4.8% from FY 2025). Net income: ₹5.89b (down 48% from FY 2025). Profit margin: 7.2% (down from 15% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Announcement • Mar 23
Kansai Nerolac Paints Limited to Report Q4, 2026 Results on May 06, 2026 Kansai Nerolac Paints Limited announced that they will report Q4, 2026 results on May 06, 2026 New Risk • Feb 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.4% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (99% cash payout ratio). Profit margins are more than 30% lower than last year (7.4% net profit margin). Announcement • Dec 24
Kansai Nerolac Paints Limited to Report Q3, 2026 Results on Feb 03, 2026 Kansai Nerolac Paints Limited announced that they will report Q3, 2026 results on Feb 03, 2026 Announcement • Dec 12
Atire agreed to acquire 60% stake in Kansai Paints Lanka Pvt Ltd. from Kansai Nerolac Paints Limited (BSE:500165). Atire agreed to acquire 60% stake in Kansai Paints Lanka Pvt Ltd. from Kansai Nerolac Paints Limited (BSE:500165) on December 11, 2025. The transaction has been approved by board of directors of Kansai Nerolac Paints Limited. Reported Earnings • Nov 04
Second quarter 2026 earnings released: EPS: ₹1.67 (vs ₹1.52 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.67 (up from ₹1.52 in 2Q 2025). Revenue: ₹19.8b (up 1.6% from 2Q 2025). Net income: ₹1.35b (up 9.9% from 2Q 2025). Profit margin: 6.8% (up from 6.3% in 2Q 2025). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Sep 26
Kansai Nerolac Paints Limited to Report Q2, 2026 Results on Nov 03, 2025 Kansai Nerolac Paints Limited announced that they will report Q2, 2026 results on Nov 03, 2025 Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: ₹2.73 (vs ₹2.86 in 1Q 2025) First quarter 2026 results: EPS: ₹2.73 (down from ₹2.86 in 1Q 2025). Revenue: ₹22.1b (up 3.8% from 1Q 2025). Net income: ₹2.21b (down 4.3% from 1Q 2025). Profit margin: 10.0% (in line with 1Q 2025). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jun 25
Kansai Nerolac Paints Limited to Report Q1, 2026 Results on Aug 04, 2025 Kansai Nerolac Paints Limited announced that they will report Q1, 2026 results on Aug 04, 2025 Upcoming Dividend • Jun 16
Upcoming dividend of ₹3.75 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 30 July 2025. Payout ratio is a comfortable 18% and the cash payout ratio is 88%. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Reported Earnings • Jun 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹14.14 (down from ₹14.66 in FY 2024). Revenue: ₹78.2b (flat on FY 2024). Net income: ₹11.4b (down 3.6% from FY 2024). Profit margin: 15% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 85%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹14.14 (down from ₹14.66 in FY 2024). Revenue: ₹79.6b (up 2.1% from FY 2024). Net income: ₹11.4b (down 3.6% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 85%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • May 08
Dividend of ₹3.75 announced Shareholders will receive a dividend of ₹3.75. Ex-date: 23rd June 2025 Payment date: 30th July 2025 Dividend yield will be 1.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 29% over the next 3 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 24
Kansai Nerolac Paints Limited to Report Q4, 2025 Results on May 06, 2025 Kansai Nerolac Paints Limited announced that they will report Q4, 2025 results on May 06, 2025 Announcement • Feb 07
Kansai Nerolac Paints Limited Appoints Ram Mehrotra as Chief Business Officer - Decorative Sales Kansai Nerolac Paints Limited announced that Mr. Ram Mehrotra has been appointed as Chief Business Officer - Decorative Sales of the Company. He will be reporting to the Managing Director. Date of appointment is February 7, 2025. Mr. Ram Mehrotra has over 30 years of experience in sales, marketing, and business leadership. He was serving as the Senior Vice President (Sales & Marketing) at Astral Limited, where he was overseeing the business development and brand strategy for the paints vertical. Before joining Astral, Mr. Mehrotra had a long and successful tenure with Kansai Nerolac Paints Ltd, where he served for over 25 years in various key positions, including Vice President (Sales & Marketing). He spearheaded the growth of the decorative paints division, focusing on increasing market share and profitability. With his deep expertise in marketing strategy, brand development, and sales leadership, Mr. Mehrotra brings a wealth of knowledge to any organization he is part of, continuing to make significant contributions to the industry. He holds an MBA in Marketing from Kanpur University in 1994. He completed Chief Marketing Officer Program at the Indian Institute of Management, Lucknow in 2023, and earned a Bachelor of Engineering (B.E.) in Electrical and Electronics Engineering from Dayalbagh Educational Institute in 1991. Announcement • Feb 06
Kansai Nerolac Paints Limited Announces Retirement of Anuj Jain as Managing Director Kansai Nerolac Paints Limited at its Board meeting held on February 5, 2025, approved the Retirement of Mr. Anuj Jain as the Managing Director. The Company and Mr. Anuj Jain, Managing Director have mutually agreed that Mr. Jain will take early retirement from the services of the Company at the close of business on March 31, 2025. The Company places on record the contribution of Mr. Jain for 35 long years in various capacities across geographies. He has led the Company from the front as the Managing Director for the last three years and contributed significantly to the progress of the Company. New Risk • Feb 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Feb 06
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: ₹8.42 (up from ₹1.91 in 3Q 2024). Revenue: ₹19.6b (up 2.3% from 3Q 2024). Net income: ₹6.81b (up 341% from 3Q 2024). Profit margin: 35% (up from 8.0% in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 63%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jan 21
Kansai Nerolac Paints Limited Announces Cessation of Pradip P. Shah as Director and Chairman of the Company Kansai Nerolac Paints Limited informed that Mr. Pradip P. Shah (holding Director Identification Number 00066242) will retire upon completion of his second term of office as an Independent Director and consequently, cease to be a Director and Chairman of the Company, with effect from close of business on 29th January, 2025. Mr. Shah had been appointed as an Independent Director in terms of the Companies Act, 2013 with effect from 30th January, 2015 for a term of five years till 29th January, 2020. He had been re-appointed as an Independent Director for a further term of five years from 30th January, 2020 upto and including 29th January, 2025. Announcement • Dec 27
Kansai Nerolac Paints Limited to Report Q3, 2025 Results on Feb 05, 2025 Kansai Nerolac Paints Limited announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 07
Second quarter 2025 earnings released: EPS: ₹1.52 (vs ₹2.19 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.52 (down from ₹2.19 in 2Q 2024). Revenue: ₹19.8b (up 1.1% from 2Q 2024). Net income: ₹1.23b (down 31% from 2Q 2024). Profit margin: 6.2% (down from 9.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 27
Kansai Nerolac Paints Limited to Report First Half, 2025 Results on Nov 06, 2024 Kansai Nerolac Paints Limited announced that they will report first half, 2025 results on Nov 06, 2024 Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: ₹2.86 (vs ₹9.13 in 1Q 2024) First quarter 2025 results: EPS: ₹2.86 (down from ₹9.13 in 1Q 2024). Revenue: ₹21.3b (down 1.1% from 1Q 2024). Net income: ₹2.31b (down 69% from 1Q 2024). Profit margin: 11% (down from 34% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jun 27
Kansai Nerolac Paints Limited to Report Q1, 2025 Results on Jul 29, 2024 Kansai Nerolac Paints Limited announced that they will report Q1, 2025 results on Jul 29, 2024 Upcoming Dividend • Jun 14
Upcoming dividend of ₹3.75 per share Eligible shareholders must have bought the stock before 21 June 2024. Payment date: 28 July 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.7%). Reported Earnings • May 05
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ₹14.66 (up from ₹5.86 in FY 2023). Revenue: ₹78.9b (up 4.6% from FY 2023). Net income: ₹11.9b (up 150% from FY 2023). Profit margin: 15% (up from 6.3% in FY 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 25%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Kansai Nerolac Paints Limited to Report Fiscal Year 2024 Results on May 04, 2024 Kansai Nerolac Paints Limited announced that they will report fiscal year 2024 results at 12:15 PM, Indian Standard Time on May 04, 2024 Reported Earnings • Feb 06
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹1.91 (up from ₹1.36 in 3Q 2023). Revenue: ₹19.4b (up 6.1% from 3Q 2023). Net income: ₹1.54b (up 40% from 3Q 2023). Profit margin: 8.0% (up from 6.0% in 3Q 2023). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Dec 26
Kansai Nerolac Paints Limited to Report Q3, 2024 Results on Feb 05, 2024 Kansai Nerolac Paints Limited announced that they will report Q3, 2024 results on Feb 05, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: ₹2.19 (vs ₹1.41 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.19 (up from ₹1.41 in 2Q 2023). Revenue: ₹19.8b (up 2.5% from 2Q 2023). Net income: ₹1.77b (up 56% from 2Q 2023). Profit margin: 9.0% (up from 5.9% in 2Q 2023). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Sep 27
Kansai Nerolac Paints Limited to Report Q2, 2024 Results on Nov 01, 2023 Kansai Nerolac Paints Limited announced that they will report Q2, 2024 results on Nov 01, 2023 Price Target Changed • Aug 08
Price target increased by 9.2% to ₹357 Up from ₹327, the current price target is an average from 17 analysts. New target price is 8.4% above last closing price of ₹329. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of ₹9.87 for next year compared to ₹5.86 last year. New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹9.13 (vs ₹1.93 in 1Q 2023) First quarter 2024 results: EPS: ₹9.13 (up from ₹1.93 in 1Q 2023). Revenue: ₹21.7b (up 6.0% from 1Q 2023). Net income: ₹7.38b (up 372% from 1Q 2023). Profit margin: 34% (up from 7.6% in 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Kansai Nerolac Paints Limited to Report Q1, 2024 Results on Aug 03, 2023 Kansai Nerolac Paints Limited announced that they will report Q1, 2024 results at 3:30 PM, Indian Standard Time on Aug 03, 2023 Reported Earnings • Jun 07
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹8.79 (up from ₹6.66 in FY 2022). Revenue: ₹75.4b (up 18% from FY 2022). Net income: ₹4.74b (up 32% from FY 2022). Profit margin: 6.3% (up from 5.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 19
Kansai Nerolac Paints Limited, Annual General Meeting, Jun 26, 2023 Kansai Nerolac Paints Limited, Annual General Meeting, Jun 26, 2023, at 11:00 Indian Standard Time. Upcoming Dividend • May 18
Upcoming dividend of ريال2.70 per share at 0.6% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.9%). Reported Earnings • May 09
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹8.79 (up from ₹6.66 in FY 2022). Revenue: ₹75.7b (up 19% from FY 2022). Net income: ₹4.74b (up 32% from FY 2022). Profit margin: 6.3% (up from 5.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹2.04 (vs ₹2.38 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.04 (down from ₹2.38 in 3Q 2022). Revenue: ₹18.3b (flat on 3Q 2022). Net income: ₹1.10b (down 14% from 3Q 2022). Profit margin: 6.0% (down from 7.1% in 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 6% per year. Announcement • Dec 31
Kansai Nerolac Paints Limited to Report Q3, 2023 Results on Feb 03, 2023 Kansai Nerolac Paints Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bhaskar Bhat was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: ₹2.11 (vs ₹1.71 in 2Q 2022) Second quarter 2023 results: EPS: ₹2.11 (up from ₹1.71 in 2Q 2022). Revenue: ₹19.4b (up 20% from 2Q 2022). Net income: ₹1.14b (up 23% from 2Q 2022). Profit margin: 5.9% (up from 5.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Board Change • Aug 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bhaskar Bhat was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 25% share price gain to ₹501, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 7.6% over the past three years. Price Target Changed • Aug 04
Price target increased to ₹502 Up from ₹454, the current price target is an average from 13 analysts. New target price is approximately in line with last closing price of ₹500. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₹11.40 for next year compared to ₹6.66 last year. Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: ₹2.90 (vs ₹2.12 in 1Q 2022) First quarter 2023 results: EPS: ₹2.90 (up from ₹2.12 in 1Q 2022). Revenue: ₹20.6b (up 47% from 1Q 2022). Net income: ₹1.56b (up 37% from 1Q 2022). Profit margin: 7.6% (down from 8.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.3%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.