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Kansai Nerolac Paints Limited
(KANSAINER)
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Rating:70Outperform
Price Target:
₹194.00
▲(0.47% Upside)
Action:Upgraded
Date:08/09/26
The score is driven primarily by solid underlying financial strength from a conservatively financed balance sheet and positive cash flow, offset by a sharp 2026 profitability/margin deterioration. Technicals are supportive with price above major moving averages, while valuation (P/E ~27 with a ~1.27% yield) limits upside unless margins and earnings stability improve.
Positive Factors
Conservative Balance Sheet
Very low leverage gives Kansai Nerolac substantial financial flexibility and reduces balance-sheet pressure during weaker operating periods. The company can support investment and absorb earnings volatility without the same debt-servicing burden faced by more highly leveraged competitors.
Negative Factors
Sharp Margin Compression
The sharp decline in gross and net margins indicates that recent revenue is converting into substantially less profit. If this lower profitability persists, it would reduce earnings power, weaken returns on capital, and limit the funds available for reinvestment or shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage gives Kansai Nerolac substantial financial flexibility and reduces balance-sheet pressure during weaker operating periods. The company can support investment and absorb earnings volatility without the same debt-servicing burden faced by more highly leveraged competitors.
Read all positive factors
Kansai Nerolac Paints Limited (KANSAINER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹142.72B
Dividend Yield1.42%
Average Volume (3M)25.91K
Price to Earnings (P/E)23.8
Beta (1Y)0.86
Revenue Growth5.24%
EPS Growth-47.04%
CountryIN
Employees3,859
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)7.42
Shares Outstanding808,854,550
10 Day Avg. Volume13,508
30 Day Avg. Volume25,908
Financial Highlights & Ratios
PEG Ratio-0.47
Price to Book (P/B)2.01
Price to Sales (P/S)1.68
P/FCF Ratio19.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.88
Revenue Forecast (FY)₹89.34B
Kansai Nerolac Paints Limited Business Overview & Revenue Model
Company Description
Kansai Nerolac Paints Limited manufactures and supplies paints, varnishes, enamels, and lacquers in India. It offers interior and exterior wall paints, wood coatings, metal enamel paints, and ancillary paints, as well as adhesives and waterproofin...
How the Company Makes Money
KANSAINER primarily makes money by selling paints and coatings to two broad end-markets: (1) decorative paints for households and buildings and (2) industrial coatings supplied to manufacturers. Revenue is generated from the sale of finished paint...
Kansai Nerolac Paints Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
88
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 82.63B | 80.52B | 77.87B | 77.68B | 75.05B | 62.82B |
| Gross Profit | 23.15B | 20.85B | 26.80B | 26.87B | 22.08B | 18.25B |
| EBITDA | 10.30B | 10.57B | 17.11B | 17.81B | 8.44B | 6.74B |
| Net Income | 6.00B | 5.89B | 11.43B | 11.85B | 4.74B | 3.59B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 87.11B | 82.17B | 74.10B | 63.06B | 57.09B |
| Cash, Cash Equivalents and Short-Term Investments | 25.85B | 25.87B | 21.36B | 15.81B | 6.34B | 3.13B |
| Total Debt | 0.00 | 3.03B | 2.96B | 2.76B | 2.87B | 3.19B |
| Total Liabilities | -66.89B | 20.22B | 18.13B | 18.11B | 17.46B | 15.58B |
| Stockholders Equity | 66.89B | 67.14B | 64.23B | 55.83B | 45.34B | 41.32B |
Cash Flow | ||||||
| Free Cash Flow | 986.30M | 6.79B | 3.46B | 6.66B | 2.85B | -1.94B |
| Operating Cash Flow | 2.02B | 8.92B | 6.72B | 9.03B | 4.08B | 247.70M |
| Investing Cash Flow | 2.38B | -3.94B | -3.79B | -5.90B | -2.27B | 2.50B |
| Financing Cash Flow | -3.65B | -3.90B | -3.66B | -2.49B | -1.33B | -3.09B |
Kansai Nerolac Paints Limited Technical Analysis
Negative
193.10
Price Trends
186.75
Negative
196.41
Negative
199.36
Negative
Market Momentum
-1.75
Negative
42.18
Neutral
31.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KANSAINER, the sentiment is Negative. The current price of 193.1 is above the 20-day moving average (MA) of 181.05, above the 50-day MA of 186.75, and below the 200-day MA of 199.36, indicating a bearish trend. The MACD of -1.75 indicates Negative momentum. The RSI at 42.18 is Neutral, neither overbought nor oversold. The STOCH value of 31.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KANSAINER.
Kansai Nerolac Paints Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹47.64B | 29.54 | ― | 0.50% | 9.51% | 13.64% | |
70 Outperform | ₹142.72B | 23.76 | ― | 1.42% | 5.24% | -47.04% | |
67 Neutral | ₹542.25B | 44.55 | ― | 0.86% | 5.22% | 6.57% | |
62 Neutral | ₹120.04B | 6.74 | ― | 9.63% | -11.34% | 383.49% | |
62 Neutral | ₹2.22T | 45.96 | ― | 1.19% | 12.37% | 24.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹6.66B | -9.59 | ― | 1.75% | -10.48% | 0.50% |
* General Sector Average
IN:KANSAINER
Kansai Nerolac Paints Limited
176.45
-69.67
-28.31%
IN:AKZOINDIA
Akzo Nobel India Limited
263.60
-57.30
-17.86%
IN:ASIANPAINT
Asian Paints Ltd.
2,315.00
-171.76
-6.91%
IN:BERGEPAINT
Berger Paints India Limited
465.05
-70.01
-13.08%
IN:INDIGOPNTS
Indigo Paints Ltd
998.10
-2.11
-0.21%
IN:SHALPAINTS
Shalimar Paints Ltd
79.50
1.15
1.47%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.