MarketFriction

Kansai Nerolac Paints Ltd

NSE KANSAINER · BSE 500165 · Paints
₹175.27 -1.53%
NSE close2026-10-01
52 week range157.91 - 264.00
Market cap₹14,667 Cr.
P/E22.8
Results 04-11 Microcap 250 Price band 20% Delivery 49.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,9571,9191,7692,1331,9511,9221,8172,1621,9541,9821,9542,374
Expenses1,6831,6751,5901,8031,7391,6871,6511,8591,7391,7421,7372,045
Operating Profit273244179330212235166303215240216328
OPM %14%13%10%15%11%12%9%14%11%12%11%14%
Other Income2220333427671375328-101155
Interest877779878988
Depreciation474848484953525354606163
Profit before tax240208157308183844144295182161158312
Tax %27%27%27%27%34%22%29%27%27%27%31%27%
Net Profit175152114225120662102216133117110228
EPS in Rs2.191.911.442.861.528.421.342.731.671.501.392.86
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,7674,0534,6585,4245,2805,0746,3697,5437,8017,8238,0528,263
Expenses3,1823,3153,8644,6724,4764,2115,7206,7256,7746,8817,0777,264
Operating Profit5857377947538048636498181,0289429751,000
OPM %16%18%17%14%15%17%10%11%13%12%12%12%
Other Income563987161263825267537698385
Interest001102124292929313233
Depreciation687077106142165170180190202228238
Profit before tax1,0797657876976677124766351,5611,478797814
Tax %16%33%35%36%23%26%28%26%25%25%28%
Net Profit9025105144485165263434681,1761,109576589
EPS in Rs11.156.296.365.606.446.554.445.8614.6614.147.297.42
Dividend Payout %18%32%27%31%33%53%34%31%26%27%51%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%10%2%5%
Compounded Profit Growth2%2%7%1%
Stock Price CAGR-3%-16%-17%-27%
Return on Equity12%10%11%9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital545454545454545454818181
Reserves1,5482,4562,7613,0783,3623,7063,9994,0784,4805,5026,3426,633
Borrowings51462935108242173203160276296303
Other Liabilities7206857939629948811,3071,3741,6131,5511,4971,695
Total Liabilities2,3733,2403,6364,1304,5184,8845,5335,7096,3067,4108,2178,711
Fixed Assets9169379571,0361,4651,9061,9121,9962,1082,1822,2462,404
CWIP4442154346316169207225113153226175
Investments2085395315211973066692115011,3271,8502,365
Other Assets1,2051,7221,9932,2282,5402,5022,7453,2783,5843,7483,8953,767
Total Assets2,3733,2403,6364,1304,5184,8845,5335,7096,3067,4108,2178,711
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity30539235136010059564625408903672894
Cash from Investing Activity-239144-557-16289-375-453250-227-590-379-383
Cash from Financing Activity-87-92-216-192-223-141-274-309-133-249-366-403
Net Cash Flow-21444-4226-3479-81-354964-72108
Free Cash Flow21530413417-425356545-193287666347682
CFO/OP95%110%78%80%55%95%93%29%73%111%99%115%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days545353555154696360626367
Inventory Days9590123107132127158153134136133119
Days Payable5685989082751209279888891
Cash Conversion Cycle9358787210110610712311511010995
Working Capital Days514880647374829181778269
ROCE %25%25%26%25%20%18%17%11%14%17%13%12%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.99%74.99%74.99%74.99%74.99%74.99%74.98%74.98%74.98%74.98%74.96%74.96%
FIIs4.27%4.28%4.72%5.09%5.56%5.36%5.30%5.40%5.61%5.17%3.60%4.02%
DIIs11.90%11.84%11.61%10.72%10.28%10.24%10.10%10.20%10.03%10.41%11.90%11.88%
Public8.82%8.88%8.68%9.18%9.16%9.40%9.61%9.41%9.37%9.43%9.53%9.14%
No. of Shareholders1,11,1971,14,0471,14,0081,36,3271,44,1511,54,2771,63,2701,56,0071,49,9191,51,2131,50,7611,45,779

Fundamentals

Market Cap₹ 14,667 Cr.
Current Price₹ 181
Stock P/E22.8
Book Value₹ 83.0
ROCE12.0 %
ROE8.82 %
Dividend Yield1.38 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)1%
Consolidated figures.
Valuation
Market capRs 14,173 Cr
Enterprise valueRs 14,250 Cr
P/E (TTM)23.62x
Price to book2.11x
Price to sales1.72x
EV / EBITDA13.13x
EV / EBIT16.83x
EV / sales1.72x
Price to cash flow15.85x
Earnings yield4.23%
Dividend yield2.14%
P/E, 3-year average19.10x
P/B, 3-year average2.91x
P/E, 5-year average26.69x
P/B, 5-year average3.17x
Profitability
Operating margin (excl. other income)12.10%
Operating margin (incl. other income)13.13%
EBITDA margin13.13%
Pre-tax margin9.85%
Net profit margin7.26%
Net margin, latest quarter9.76%
ROE8.97%
ROCE12.07%
ROA6.96%
ROE, 3-year average17.15%
ROCE, 3-year average22.07%
ROA, 3-year average12.96%
ROE, 5-year average14.23%
ROCE, 5-year average18.54%
ROA, 5-year average10.63%
ROIC (approx.)9.01%
Tax rate27.75%
Other income / net worth1.23%
Growth
Sales growth (latest year)2.93%
Profit growth (latest year)-48.43%
Sales CAGR, 3 years2.20%
Sales CAGR, 5 years9.67%
Profit CAGR, 3 years7.57%
Profit CAGR, 5 years2.16%
Sales growth QoQ21.49%
Profit growth QoQ106.27%
Sales growth YoY (latest quarter)9.79%
Profit growth YoY (latest quarter)4.83%
Per share
EPS (TTM)Rs 7.42
EPS (latest year)Rs 7.29
EPS (latest quarter)Rs 2.86
EPS, 3-year averageRs 12.03
EPS, 5-year averageRs 10.31
Book value per shareRs 83.02
Sales per shareRs 102.19
Cash flow per shareRs 11.06
Free cash flow per shareRs 8.43
Dividend per share (latest year)Rs 3.75
Dividend per share, 3-year averageRs 3.75
Dividend per share, 5-year averageRs 3.24
Dividends
Dividend payout51.45%
Dividend payout, 3-year average34.51%
Dividend payout, 5-year average33.61%
Efficiency
Asset turnover0.92x
Fixed asset turnover3.35x
Inventory turnover3.50x
Inventory days104 days
Debtor days67 days
Debtors turnover5.49x
Creditor days91 days
Cash conversion cycle95 days
Working capital days69 days
Leverage
Total debtRs 303 Cr
Cash and bankRs 226 Cr
Net debtRs 77 Cr
Debt to equity0.05x
Net debt / EBITDA0.07x
Interest coverage25.70x
Current ratio (filing 2026-03-31)3.48x
Quick ratio (filing 2026-03-31)2.56x
Trade payables (filing 2026-03-31)Rs 1,165 Cr
Owners' fund to total sources77.07%
Debt to assets3.48%
Cash flow
Cash from Operating Activity (latest year)Rs 894 Cr
Cash from Investing Activity (latest year)Rs -383 Cr
Cash from Financing Activity (latest year)Rs -403 Cr
Net Cash Flow (latest year)Rs 108 Cr
Free cash flow (latest year)Rs 682 Cr
FCFE (approx.: FCF + change in debt)Rs 688 Cr
Cash from ops / profit, 5 years0.79x
Sales to cash flow9.00x
Statement figures
Net sales (TTM)Rs 8,263 Cr
Net sales (latest year)Rs 8,052 Cr
Sales (latest quarter)Rs 2,374 Cr
Operating profit excl. other income (latest year)Rs 975 Cr
Operating profit (latest quarter)Rs 328 Cr
Other income (TTM)Rs 85 Cr
EBITDA (TTM)Rs 1,085 Cr
PBDT (TTM)Rs 1,052 Cr
Profit before tax (TTM)Rs 814 Cr
Tax (latest year)Rs 221 Cr
Net profit (TTM)Rs 600 Cr
Net profit (latest year)Rs 589 Cr
Net profit (latest quarter)Rs 232 Cr
Depreciation (TTM)Rs 238 Cr
Depreciation (latest quarter)Rs 63 Cr
Interest (TTM)Rs 33 Cr
Cost of goods sold (latest year)Rs 5,351 Cr
Total expenditure (latest year)Rs 7,077 Cr
Total income (latest year)Rs 8,135 Cr
Share capitalRs 81 Cr
ReservesRs 6,633 Cr
Shareholders' fundsRs 6,714 Cr
Total assetsRs 8,711 Cr
Net blockRs 2,404 Cr
Capital work in progressRs 175 Cr
InvestmentsRs 2,365 Cr
ReceivablesRs 1,467 Cr
InventoryRs 1,530 Cr
Other liabilitiesRs 1,695 Cr
Shares outstanding (crore)80.87
Ownership
Promoter holding74.96% (-0.02 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 23.6 is at the 19th percentile of its own 9.4-year range (median 51.3, low 15.9, high 75.9).
P/B 2.11 is the lowest in 9.4 years (median 6.25).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodKANSAINERNifty 50Difference
1 week-2.3%-2.8% +0.5 pts
1 month-10.0%-6.8% -3.2 pts
3 months-17.3%-7.6% -9.6 pts
6 months+4.8%+0.4% +4.4 pts
1 year-28.5%-9.9% -18.6 pts
2 years-42.3%-13.6% -28.7 pts
3 years-44.8%+14.2% -59.0 pts
5 years-58.7%+27.9% -86.6 pts
30 mutual fund schemes hold about ₹732 Cr. Over three months 24 bought more and 4 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Multi Cap Fund0.60%337 +13%
ICICI Pru Small Cap Fund0.78%76 +7%
ICICI Pru Small Cap Fund0.78%74 +7%
Nippon India Multi Asset Allocation Fund0.21%39 +1%
ICICI Pru Bharat Consumption Fund1.01%33 +11%
SBI Consumption Opp Fund1.02%29 +17%
Nippon India Innovation Fund0.80%25 +7%
Nippon India MNC Fund3.97%17 -15%
SBI Conservative Hybrid Fund(Q0.14%15 +13%
Canara Rob Consumption Fund0.73%15 +11%
Canara Rob Manufacturing Fund0.62%11 +10%
iSIF Equity Ex-Top 100 Long-Short Fund0.41%10 -18%
Motilal Oswal Nifty Microcap 250 Index Fund0.41%10 +7%
WOC Multi Cap Fund0.22%9 +0%
JioBlackRock Flexi Cap Fund0.26%9 +47%
SBI LT Advantage Fund-V1.82%7 +10%
SBI LT Advantage Fund-VI-1.91%5 +12%
SBI LT Advantage Fund-IV-1.97%4 +14%
ICICI Pru Rural Opportunities Fund0.15%3 +16%
Titanium Equity Long-Short Fund1.05%2 +100%
WOC Consumption Opportunities Fund1.27%2 -7%
The Wealth Company Small Cap Fund1.27%1 +13%
WOC ELSS Tax Saver Fund0.26%1 +7%
Groww Nifty Total Market Index Fund0.02%0 +9%
HDFC BSE 500 Index Fund0.02%0 +10%

Red flags

F-score 6 of 8
lookRegulator order or action Regulator order or action 2026-08-26: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹2,374 Cr +9.8% vs Jun 2025. Net profit ₹228 Cr +5.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-29Dividend - Rs 2.50 Per Share
2025-06-23Dividend - Rs 2.50 Per Share/Special Dividend - 1.25 Per Share
2024-06-21Annual General Meeting/Special Dividend - Rs 1.25 Per Share/ Dividend - Rs 2.50 Per Share
2023-07-04Bonus 1:20.6667
2023-05-25Annual General Meeting/Dividend - Rs 2.70 Per Share
2022-06-08Annual General Meeting/Dividend - Re 1 Per Share
2021-11-08 Interim Dividend - Rs 1.25 Per Share
2021-06-17 Annual General Meeting/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share
2020-11-12 Interim Dividend - Rs 1.25 Per Share
2020-06-12 Annual General Meeting/Dividend - Rs 3.15 Per Share
2019-06-13 Annual General Meeting/Dividend - Rs 2.60 Per Share
2018-06-13 Annual General Meeting / Dividend - Rs 2.60 Per Share
2017-06-13 Annual General Meeting/Final Dividend Rs 2.50 + Special Dividend Re 0.50 Per Share
2016-06-14 Annual General Meeting/Final Dividend Rs 1.80/- + Special Dividend Rs 1.25/- Per Share
2015-06-26Annual General Meeting/Dividend-Re 1.40/- Per Share (Book Closure Start Date Revised)
2015-03-26Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2014-06-11Annual General Meeting / Final Dividend - Rs 11/- Per Share
2013-06-07Annual General Meeting And Dividend Rs.11/- Per Share
2012-06-08Annual General Meeting And Dividend Rs.11/- Per Share
2011-06-02Annual General Meeting And Divided - Rs.10 Per Share
2010-06-23Bonus 1:10.5000
2010-05-12Annual General Meeting And Dividend Rs.15/- Per Share
2009-06-22Agm/Div-Rs.12/- Per Share
2008-06-20Agm/Dividend - 120%
2007-06-27Agm
2007-03-20Interim Dividend-115% Purpose Revised
2006-05-31Agm/Fin Div-115%
DateTypeWhat it says
2026-09-25General UpdatesThe NCLT Order sanctioning the Scheme of Amalgamation of Nerofix Private Limited with Kansai Nerolac Paints Limited.
2026-09-24ESOPAllotment of 75801 Shares.
2026-08-26Regulatory actionIntimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and r...
2026-08-10Concall / analyst meetTranscript
2026-08-03Concall / analyst meetLink of recordings
2026-08-03Concall / analyst meetInvestor Presentation
2026-08-03Capacity additionThis is to inform you that the Board of Directors of Kansai Nerolac Paints Limited has, in the Board meeting held today i.e. on Monday, 3rd August, 20...
2026-08-03Press ReleaseA press release dated August 03, 2026, titled "Press Release for the unaudited financial results for the quarter ended 30th June, 2026.".
2026-08-03Board meeting outcomeThis is to inform you that the Board of Directors of Kansai Nerolac Paints Limited has, in its meeting held today i.e. on Monday, 3rd August, 2026, in...
2026-07-23ESOPAllotment of 64309 Shares.
2026-07-22Concall / analyst meetPursuant to Regulation 30(6) of Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations, 2015, we hereby i...
2026-07-09Shareholder meetingProceedings and Voting results of 106th Annual General Meeting of Kansai Nerolac Paints Limited is enclosed herewith.
2026-06-11General UpdatesIn terms of the provisions of Regulation 34(2)(f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regu...
2026-06-11Shareholder meetingNotice of Annual General Meeting to be held on July 09, 2026
2026-05-28ESOPAllotment of 56197 Shares.
2026-05-12Concall / analyst meetTranscript
2026-05-06Concall / analyst meetLink of Recording
2026-05-06General UpdatesAppointment of Cost Auditor of the Company.
2026-05-06AppointmentAppointment of M/S D. C. Dave & Co., Cost Accountants as Cost Auditor of the Company w.e.f. April 01, 2026.
2026-05-06General UpdatesThe date of AGM and date of payment of Dividend.
2026-05-06Record DateRecord date for the purpose of Dividend is 29-Jun-2026.
2026-05-06Concall / analyst meetPresentation
2026-05-06Press ReleaseA press release on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended 31st March, 2026 ...
2026-05-06DividendBoard of Directors at its meeting held on May 06, 2026, recommended Final Dividend of Rs. 2.50 per equity share.
2026-05-06Board meeting outcomeKansai Nerolac Paints Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Kansai Nerolac Paints Ltd?

Kansai Nerolac Paints Ltd (KANSAINER) has a market capitalisation of Rs 14,667 Cr. at the 2026-10-01 close.

What is the P/E ratio of Kansai Nerolac Paints Ltd?

Kansai Nerolac Paints Ltd trades at a P/E of 22.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Kansai Nerolac Paints Ltd's latest quarterly results?

In the Jun 2026 quarter, Kansai Nerolac Paints Ltd sales was Rs 2,374 Cr (+9.8% vs Jun 2025) and net profit was Rs 228 Cr.

What is the 52-week high and low of Kansai Nerolac Paints Ltd?

The 52-week high is Rs 264.00 and the 52-week low is Rs 157.91.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03