Kansai Nerolac Paints Limited (KANSAINER) AI Stock Analysis

• Market Cap: ₹199.22B
• Dividend Yield: 1%
• Average Volume (3M): 27.01K
• Price to Earnings (P/E): 17.6
• Beta (1Y): 0.80
• Revenue Growth: 0.95%
• EPS Growth: 67.04%
• Country: IN
• Employees: 3,784
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 2.88
• Shares Outstanding: 808,502,500
• 10 Day Avg. Volume: 17,458
• 30 Day Avg. Volume: 27,012
• PEG Ratio: -4.75
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 2.46
• P/FCF Ratio: 55.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹278.00
• Price Target Upside: 13.68% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 72 Outperform
• Price Target: ₹272.00 ▲(11.22% Upside)

Kansai Nerolac Paints Limited's strong financial performance is the most significant factor, supported by effective cost management and a healthy balance sheet. Technical analysis shows mixed signals, and the valuation is reasonable, contributing to a solid overall stock score.

Kansai Nerolac Paints Limited Business Overview & Revenue Model

Company Description

Kansai Nerolac Paints Limited manufactures and sells paints and varnishes, enamels, or lacquers in India. It offers interior and exterior decorative wall paints, wood coatings, metal enamel paints, and ancillary paints, as well as adhesives and waterproofing products; and automotive and powder coatings, performance coatings liquid, auto refinish, primers, wood finishes, and construction chemicals. The company also develops and supplies paint systems used on the finishing lines of electrical components, cycle, material handling equipment, bus bodies, containers, and furniture industries. In addition, it provides disinfectant, hand sanitizers, and multi surface protective sheets. The company was formerly known as Goodlass Nerolac Paints Limited and changed its name to Kansai Nerolac Paints Limited in April 2006. The company was incorporated in 1920 and is based in Mumbai, India. Kansai Nerolac Paints Limited is a subsidiary of Kansai Paint Co., Ltd.

How the Company Makes Money

Kansai Nerolac Paints Limited generates revenue primarily through the sale of its decorative and industrial paint products. The company serves a diverse customer base, including individual homeowners, construction companies, and industrial manufacturers. Its revenue streams are categorized into decorative coatings, which are used in residential and commercial buildings, and industrial coatings, which cater to the automotive, powder, and performance coatings segments. Kansai Nerolac has formed strategic partnerships with various automotive and industrial companies to supply specialized coatings, contributing to a stable and robust revenue base. Additionally, the company's focus on innovation and sustainability helps it capture a growing market share and maintain a competitive edge.

Kansai Nerolac Paints Limited Financial Statement Overview

Summary

Kansai Nerolac Paints Limited exhibits strong financial performance with robust revenue growth, stable profitability, and a healthy balance sheet. Effective cost management and prudent leverage enhance its position in the industry.

Income Statement

Kansai Nerolac Paints Limited has demonstrated strong revenue growth over the years, with a notable increase from 2022 to 2025. The gross profit margin has been consistently healthy, reflecting efficient cost management. Additionally, the company has maintained a solid net profit margin, indicating robust profitability. The EBIT and EBITDA margins are stable, showcasing strong operational performance.

Balance Sheet

The company's balance sheet is strong, with a low debt-to-equity ratio indicating prudent leverage. The equity ratio is high, reflecting a solid asset base backed by equity. Return on equity is favorable, demonstrating effective use of shareholder funds to generate profits. Overall, the balance sheet is stable, though continued monitoring of liabilities is advisable.

Cash Flow

Kansai Nerolac Paints Limited has shown a healthy cash flow position with consistent operating cash flows supporting net income. Despite fluctuations in free cash flow, the company managed positive growth in recent years. The operating cash flow to net income ratio underscores efficient cash generation from operations, providing a solid cushion for investments and debt servicing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	78.52B	78.23B	78.01B	75.43B	62.82B	50.58B
Gross Profit	23.92B	27.54B	19.64B	22.78B	18.25B	18.87B
EBITDA	17.03B	9.42B	17.81B	8.44B	6.74B	9.01B
Net Income	11.33B	11.43B	11.85B	4.74B	3.59B	5.30B
Balance Sheet
Total Assets	0.00	82.17B	74.10B	63.06B	57.09B	55.33B
Cash, Cash Equivalents and Short-Term Investments	21.34B	21.36B	15.81B	6.34B	3.13B	7.90B
Total Debt	0.00	2.96B	2.76B	2.87B	3.19B	2.69B
Total Liabilities	-64.04B	18.13B	18.11B	17.46B	15.58B	14.44B
Stockholders Equity	64.04B	64.23B	55.83B	45.34B	41.32B	40.53B
Cash Flow
Free Cash Flow	0.00	3.46B	6.66B	2.85B	-1.94B	5.42B
Operating Cash Flow	0.00	6.72B	9.03B	4.08B	247.70M	6.46B
Investing Cash Flow	0.00	-3.79B	-5.90B	-2.27B	2.50B	-4.53B
Financing Cash Flow	0.00	-3.66B	-2.49B	-1.33B	-3.09B	-2.74B

Kansai Nerolac Paints Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 244.55
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KANSAINER, the sentiment is Neutral. The current price of 244.55 is below the 20-day moving average (MA) of 248.12, above the 50-day MA of 243.25, and above the 200-day MA of 244.02, indicating a neutral trend. The MACD of 1.47 indicates Positive momentum. The RSI at 49.60 is Neutral, neither overbought nor oversold. The STOCH value of 62.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:KANSAINER.

Kansai Nerolac Paints Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDIGOPNTS	73 Outperform	₹50.48B	35.65	―	0.34%	0.75%	-0.74%
KANSAINER	72 Outperform	₹199.22B	17.58	―	1.00%	0.95%	67.04%
AKZOINDIA	68 Neutral	₹151.73B	37.38	―	2.71%	1.28%	-5.89%
GSFC	68 Neutral	₹78.14B	12.17	―	2.57%	3.26%	19.18%
REFEX	65 Neutral	₹47.80B	30.89	―	0.14%	41.37%	31.76%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RALLIS	59 Neutral	₹59.41B	34.54	―	0.83%	7.10%	29.32%