Kansai Nerolac Paints Ltd
NSE: KANSAINER · Paints · sector
₹178.65NSE close 2026-10-26
Key numbers
Market cap₹14,447 cr
Price₹178.65
52w high / low₹264 / ₹158
P/E24.1xSector median 34.4x
P/B2.1xSector median 4.2x
Book value₹83.0
Dividend yield2.10%Sector median 0.96%
ROE9.1%Sector median 14.9%
ROCE12.5%Sector median 18.6%
OPM11.3%Sector median 15.5%
Debt / equity0.01xSector median 0.08x
EV/EBITDA12.8xSector median 19.8x
Interest cover25.7x
Current ratio3.48x
Sales growth 3y+2.2%Sector median +4.0%
Profit growth 3y+7.6%Sector median +9.4%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Paints (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2,587 cr vs borrowings ₹83 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹160 cr → ₹83 cr).
- Operating profit covered interest 25.7x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 4 of the last 5 years (FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 25% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹178.65 on 2026-10-26: -32.3% from the 52-week high, +13.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹309.50 · low ₹159.07
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,951 | 1,922 | 1,817 | 2,162 | 1,954 | 1,982 | 1,954 | 2,374 |
| EBITDA | 212 | 865 | 166 | 303 | 215 | 195 | 198 | 328 |
| OPM % | 10.9% | 45.0% | 9.1% | 14.0% | 11.0% | 9.8% | 10.1% | 13.8% |
| Other income | 27 | 42 | 37 | 53 | 28 | 35 | 30 | 55 |
| Net profit | 123 | 681 | 108 | 221 | 135 | 121 | 112 | 232 |
| EPS (₹) | 1.52 | 8.42 | 1.34 | 2.73 | 1.67 | 1.50 | 1.39 | 2.86 |
| Revenue YoY | +0.1% | +3.1% | +7.5% | +9.8% | ||||
| Profit YoY | +9.9% | -82.2% | +3.5% | +4.8% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 6,369 | 7,543 | 7,801 | 7,823 | 8,052 | 8,263 |
| EBITDA | 649 | 818 | 1,689 | 1,572 | 911 | 937 |
| Net profit | 359 | 474 | 1,185 | 1,143 | 589 | 600 |
| EPS (₹) | 6.66 | 8.79 | 14.66 | 14.14 | 7.29 | 7.42 |
| Revenue growth | +18.4% | +3.4% | +0.3% | +2.9% | +5.2% | |
| Profit growth | +32.0% | +150.3% | -3.6% | -48.4% | -47.0% | |
| Dividend / share (₹) | 3.25 | 1.00 | 2.70 | 1.25 | 2.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.2% | +9.7% | +5.2% |
| Net profit | +7.6% | +2.2% | -47.0% |
| EPS | -6.0% | -5.8% | – |
| Share price | – | -18.6% (2y) | -28.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 4,534 | 5,583 | 6,423 | 6,714 |
| Borrowings | – | 160 | 121 | 118 | 83 |
| Cash & equivalents | – | 625 | 1,583 | 2,136 | 2,587 |
| Total assets | – | 6,306 | 7,410 | 8,217 | 8,711 |
| Fixed assets | – | 1,888 | 1,941 | 2,007 | 2,086 |
| Capital work in progress | – | 113 | 149 | 221 | 170 |
| Investments | – | 3 | 4 | 4 | 4 |
| Receivables | – | 1,238 | 1,335 | 1,357 | 1,467 |
| Inventory | – | 1,729 | 1,687 | 1,665 | 1,530 |
| Payables | – | 1,016 | 1,096 | 1,101 | 1,165 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 25 | 408 | 903 | 672 | 894 |
| Cash from investing | 250 | -227 | -590 | -379 | -383 |
| Cash from financing | -309 | -133 | -249 | -366 | -403 |
| Capex | 219 | 123 | 237 | 326 | 213 |
| Free cash flow | -194 | 285 | 666 | 346 | 681 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.4% | 21.2% | 17.8% | 8.8% |
| ROCE % | – | 14.1% | 27.9% | 23.1% | 12.2% |
| Debtor days | – | 60 | 62 | 63 | 67 |
| Inventory days | – | 120 | 122 | 120 | 107 |
| Payable days | – | 70 | 79 | 79 | 82 |
| Cash conversion cycle (days) | – | 110 | 105 | 104 | 92 |
| Working capital days | – | 120 | 160 | 182 | 187 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.95% |
| FIIs | 3.93% |
| DIIs | 12.14% |
| of which Mutual funds | 4.58% |
| of which Insurance | 7.19% |
| Government | 0.00% |
| Public (non-institutions) | 8.98% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.99% | 74.98% | 74.98% | 74.98% | 74.98% | 74.96% | 74.96% | 74.95% |
| Promoter group | % |
|---|---|
| Kansai Paint Company Limited | 74.95% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation Of India | 3.58% |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund | 2.73% |
| ICICI Prudential Life Insurance Company Limited | 1.01% |
1,42,570 shareholders. Pledged: 0.00% of promoter shares.
Peers in Paints
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ASIANPAINT | ₹2,22,726 cr | 46.7x | 10.4x | 23.4% | 28.0% | 19.0% | +1.1% | 1.09% |
| BERGEPAINT | ₹54,312 cr | 44.6x | 7.8x | 18.6% | 21.3% | 15.5% | +4.0% | 0.82% |
| KANSAINER | ₹14,447 cr | 24.1x | 2.1x | 9.1% | 12.5% | 11.3% | +2.2% | 2.10% |
| JSWDULUX | ₹12,700 cr | 6.5x | 5.2x | 103.8% | 96.8% | 65.0% | -1.8% | 6.67% |
| INDIGOPNTS | ₹4,872 cr | 30.3x | 4.2x | 14.9% | 19.3% | 18.2% | +9.4% | 0.34% |
| SIRCA | ₹2,331 cr | 34.4x | 4.9x | 16.2% | 18.6% | 19.7% | +22.5% | 0.35% |
| SHALPAINTS | ₹673 cr | – | 2.7x | -24.5% | -11.2% | -5.6% | +5.8% | – |
| KAMOPAINTS | ₹123 cr | – | 0.7x | -2.4% | -0.6% | 1.7% | -1.9% | – |
| RETINA | ₹43 cr | 67.1x | 2.2x | 3.3% | 12.1% | 11.8% | +29.4% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-06-29 | Dividend | Dividend - Rs 2.50 Per Share |
| 2025-06-23 | Dividend | Dividend - Rs 2.50 Per Share/Special Dividend - 1.25 Per Share |
| 2024-06-21 | Dividend | Annual General Meeting/Special Dividend - Rs 1.25 Per Share/ Dividend - Rs 2.50 Per Share |
| 2023-07-04 | Bonus | Bonus 1:2 |
| 2023-05-25 | Dividend | Annual General Meeting/Dividend - Rs 2.70 Per Share |
| 2022-06-08 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2021-11-08 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2021-06-17 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share |
| 2020-11-12 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2020-06-12 | Dividend | Annual General Meeting/Dividend - Rs 3.15 Per Share |
| 2019-06-13 | Dividend | Annual General Meeting/Dividend - Rs 2.60 Per Share |
| 2018-06-13 | Dividend | Annual General Meeting / Dividend - Rs 2.60 Per Share |
| 2017-06-13 | Dividend | Annual General Meeting/Final Dividend Rs 2.50 + Special Dividend Re 0.50 Per Share |
| 2016-06-14 | Dividend | Annual General Meeting/Final Dividend Rs 1.80/- + Special Dividend Rs 1.25/- Per Share |
| 2015-06-26 | Dividend | Annual General Meeting/Dividend-Re 1.40/- Per Share (Book Closure Start Date Revised) |
| 2015-03-26 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share |
| 2014-06-11 | Dividend | Annual General Meeting / Final Dividend - Rs 11/- Per Share |
| 2013-06-07 | Dividend | Annual General Meeting And Dividend Rs.11/- Per Share |
| 2012-06-08 | Dividend | Annual General Meeting And Dividend Rs.11/- Per Share |
| 2011-06-02 | Other | Annual General Meeting And Divided - Rs.10 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacture and supply of paints, varnishes, enamels, and lacquers
| Sector | Consumer Discretionary |
| Industry | Paints |
| Sub-industry | Paints |
| Symbol | KANSAINER |
| BSE code | 500165 |
| ISIN | INE531A01024 |
| Face value | ₹1.0 |
| Incorporated | 1920-09-02 |
| Website | www.nerolac.com |
| Plants (India / abroad) | 10 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.