Kansai Nerolac Paints Ltd

Kansai Nerolac Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Kansai Nerolac Paints Ltd

₹ 267 4.62%
22 Nov - close price
nerolac.com BSE: 500165 NSE: KANSAINER
About

Having started its operations in 1920 as Gahagan Paints & Varnish in Mumbai, Kansai Nerolac Paints is principally engaged in the manufacturing of Paints and is a market leader in Industrial coatings. [1]

The company is subsidiary of Kansai Paints Co. Ltd Japan, from whom it continuously gets support and guidance in improvement of quality standards and getting best technology upgrades.

Key Points

History[1][2] The company started its operations in 1920 as Gahagan Paints & Varnish in Mumbai manufacturing paints, and changed its name to Goodlass Nerolac Paints Pvt. Ltd.
In 1983, they entered into a technical collaboration agreement with Kansai Paint Co. Ltd., Japan, and Nihon Tokushu Tokyo Co. Ltd., Japan, and Kansai paint took over the company and now holds a 75% stake in the company.

Website BSE NSE
  • Market Cap ₹ 21,605 Cr.
  • Current Price ₹ 267
  • High / Low ₹ 357 / 252
  • Stock P/E 33.6
  • Book Value ₹ 70.8
  • Dividend Yield 0.94 %
  • ROCE 17.0 %
  • ROE 13.0 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.3%

Cons

  • Stock is trading at 3.77 times its book value
  • Company has a low return on equity of 11.1% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Paints/Varnish Industry: Paints / Varnishes

Part of BSE 500 BSE 400 MidSmallCap Index Nifty 500 BSE Allcap BSE Consumer Discretionary

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,521 1,694 1,413 1,945 1,814 1,717 1,605 2,071 1,846 1,815 1,662 2,050 1,864
1,356 1,484 1,330 1,689 1,617 1,529 1,453 1,737 1,576 1,575 1,483 1,716 1,649
Operating Profit 165 210 83 256 197 188 152 334 270 240 179 334 215
OPM % 11% 12% 6% 13% 11% 11% 10% 16% 15% 13% 11% 16% 12%
6 9 -4 4 4 9 14 678 22 22 13 38 27
Interest 2 2 3 2 2 2 2 3 3 3 3 3 3
Depreciation 38 39 39 39 41 42 42 43 45 46 46 46 46
Profit before tax 131 178 37 218 157 153 122 966 244 213 143 323 192
Tax % 25% 26% 34% 25% 25% 26% 23% 23% 26% 26% 29% 25% 32%
99 132 25 163 117 112 94 744 180 158 102 241 130
EPS in Rs 1.22 1.64 0.30 2.02 1.45 1.39 1.16 9.20 2.23 1.95 1.26 2.98 1.61
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,790 3,091 3,467 3,739 3,999 4,587 5,174 4,943 4,771 5,949 7,081 7,393 7,391
2,454 2,729 3,023 3,159 3,268 3,797 4,432 4,162 3,927 5,302 6,287 6,370 6,422
Operating Profit 336 362 445 580 731 790 742 782 844 647 794 1,023 968
OPM % 12% 12% 13% 16% 18% 17% 14% 16% 18% 11% 11% 14% 13%
131 10 22 563 98 72 62 27 28 21 31 735 101
Interest 0 0 0 0 0 0 0 5 8 10 10 12 13
Depreciation 47 65 68 68 69 76 90 120 149 154 165 180 184
Profit before tax 420 307 399 1,075 759 786 713 684 714 505 650 1,566 872
Tax % 30% 33% 32% 16% 33% 34% 34% 22% 26% 26% 25% 24%
292 207 272 899 506 516 467 535 531 374 486 1,183 630
EPS in Rs 3.62 2.56 3.36 11.12 6.26 6.39 5.78 6.62 6.56 4.63 6.02 14.63 7.80
Dividend Payout % 20% 29% 28% 18% 32% 27% 30% 32% 53% 32% 30% 26%
Compounded Sales Growth
10 Years: 9%
5 Years: 7%
3 Years: 16%
TTM: 2%
Compounded Profit Growth
10 Years: 13%
5 Years: 8%
3 Years: 8%
TTM: 4%
Stock Price CAGR
10 Years: 7%
5 Years: -5%
3 Years: -12%
1 Year: -17%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 11%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 54 54 54 54 54 54 54 54 54 54 54 81 81
Reserves 1,232 1,369 1,543 2,449 2,751 3,071 3,371 3,733 4,023 4,117 4,553 5,572 5,647
69 57 42 42 29 18 10 3 98 109 119 149 158
707 775 705 667 763 924 872 802 1,063 1,116 1,348 1,423 1,641
Total Liabilities 2,062 2,255 2,343 3,211 3,597 4,068 4,306 4,592 5,238 5,396 6,075 7,225 7,526
774 910 905 926 947 1,007 1,316 1,709 1,777 1,876 1,995 2,074 2,124
CWIP 123 48 44 42 142 343 315 164 206 224 113 152 178
Investments 61 56 216 547 553 546 304 455 770 300 653 1,459 1,343
1,104 1,241 1,179 1,696 1,956 2,172 2,371 2,264 2,485 2,995 3,315 3,540 3,880
Total Assets 2,062 2,255 2,343 3,211 3,597 4,068 4,306 4,592 5,238 5,396 6,075 7,225 7,526

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
224 189 302 390 345 377 110 621 655 59 386 895
-142 -112 -239 145 -567 -154 86 -344 -465 251 -274 -636
-81 -82 -85 -91 -212 -206 -178 -192 -276 -324 -89 -187
Net Cash Flow 1 -5 -21 444 -433 17 19 85 -86 -14 24 72

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 55 54 52 51 52 54 48 50 65 59 58 60
Inventory Days 112 123 93 89 122 120 131 124 137 135 135 138
Days Payable 82 84 56 84 97 102 79 70 102 79 77 87
Cash Conversion Cycle 85 93 90 56 77 72 100 105 100 116 116 110
Working Capital Days 48 54 50 47 80 63 78 84 93 103 90 86
ROCE % 24% 21% 25% 25% 26% 25% 21% 19% 18% 12% 14% 17%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99%
3.57% 3.55% 3.28% 3.45% 3.32% 3.88% 4.21% 4.27% 4.28% 4.72% 5.09% 5.56%
13.21% 13.20% 13.39% 13.26% 13.34% 12.82% 12.29% 11.90% 11.84% 11.61% 10.72% 10.28%
8.23% 8.26% 8.34% 8.28% 8.34% 8.31% 8.49% 8.82% 8.88% 8.68% 9.18% 9.16%
No. of Shareholders 72,10976,90982,89283,34184,11383,76193,8711,11,1971,14,0471,14,0081,36,3271,44,151

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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