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Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd Margin recovery a key positive... Kansai Nerolac Paints Ltd. (KNPL) is the market leader in industrial paints and the third largest decorative paint company in India. • During the quarter, the top line grew by 5.1% YoY, led by high single digit volume growth in the decorative paint business. • Gross margin improved by 537bps YoY to 64.7% owing to moderation in raw material prices. While EBITDA margin improved by 294bps YoY to 15.4% in Q1FY24. • Within the industrial...
Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd
Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd
Source: Geojit Financial Services
1/09/2023 3:23:54 PM
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities Visible trajectory improvement under leadership of Anuj Jain; Upgrade to ADD Kansai has introduced multiple DCF-accretive initiatives under the leadership of Mr. Anuj Jain, MD such as (1) steady expansion of innovative product portfolio across sub-segments, (2) relaunched brand as ‘Nerolac Paint+ with Japanese technology’ supported by higher brand and R&D spends, (3) investments in projects, Next-gen painting services and influencer reach to connect with customers and gener...
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities
Source: ICICI Securities
21/08/2023 12:35:23 PM
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct Demand recovery drives topline… About the stock: Kansai Nerolac (KNL) is a global leader in industrial coatings (auto). However, in the last 10 years, it has increased its decorative paint mix to ~55% of its topline. Currently, KNL is the third largest decorative paint player in India. * Strong distribution network of ~28,000 dealers across the country * In the last three years, KNL has increased its total paint manufacturing capacity from 5.47 lakh KL to 6.06 lakh KL at a cum...
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct
Source: ICICI Direct
29/05/2023 1:15:23 PM
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd Gaining market share in the industrial paints... Kansai Nerolac Paints (KNPL) is the market leader in industrial paints and the third largest decorative paint company in India. * In Q4FY23, top-line grew by 13% YoY, led by * In Q4FY23, top-line grew by 13% YoY, led by healthy demand in the industrial paints and decorative segment. * Gross margin improved by 397bps YoY to 31.9% owing to price hike in industrial paints and benign raw material prices. EBITDA margin improved by 424bps...
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
16/05/2023 11:54:09 AM
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking Strong revenue growth YoY: Kansai’s revenue saw a decline of 5.1% QoQ while its YoY revenue grew by 12.8% YoY to Rs 1,733.6cr driven by strong growth and demand across both its Industrial as well as decorative paint segments. Decorative segment saw a mix of double digit value and volume growth while value growth was higher in the industrial segment as compared to volumes. For FY23, revenue grew healthy by 18.4% YoY to Rs 7,542.7cr. Margins saw healthy improvement YoY: The company&rsq...
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking
Source: Religare Broking Ltd
13/05/2023 11:58:53 AM
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4  Kansai Nerolac Paints Ltd reported a nearly four-fold surge in fourth-quarter profit on Monday, helped by an increase in demand for its decorative paints and a drop in some raw material costs. The paint maker's consolidated net profit in the quarter ended March 31 rose to 937.7 million rupees ($11.5 million), from 247.3 million rupees a year earlier. Revenue for the company, owned by Japan's Kansai Paint Co Ltd, rose nearly 13% in the quarter, while its cost of materials c...
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4
Source: Reuters
9/05/2023 9:03:41 AM
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers Auto-paints shine but high-cost raw material stocks dim margins; Buy Kansai Nerolac’s posted a broadly in-line performance on adj Q3 FY23 figures (for exceptionals incl. in other income in Q2 FY22). Revenue growth was driven by auto paints; decorative paints slightly declined (volumes likely to be flat) hit by a prolonged monsoon and early Diwali. Margins was squeezed by high-cost stocks, expected to be exhausted gradually in another 1-2 quarters. Thus, dimming margin expectations. H...
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd
1/03/2023 12:00:24 PM
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers Kansai Nerolac Paints is currently trading at Rs. 416.80, up by 8.15 points or 1.99% from its previous closing of Rs. 408.65 on the BSE. The scrip opened at Rs. 420.00 and has touched a high and low of Rs. 422.25 and Rs. 406.65 respectively. So far 4865 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 576.80 on 31-Jan-2022 and a 52 week low of Rs. 358.05 on 22-Jun-2022. Last one week high and low of the scrip sto...
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers
Source: Accord Fintech
31/01/2023 10:32:52 AM
Hold Kansai Nerolac Paints Ltd For Target Rs.484- ICICI Securities On right track to resolve issues that led to underperformance vs peers in past 3 years While Kansai’s Q2FY23 was weaker than consensus and our estimates, we note certain positives as (1) the company has increased its brand building spends. We model the benefits with a lag of 2-3 quarters, (2) recovery in automotive paints will likely ensure superior revenue growth vs peers and lead to benefits of operating leverage and (3) With expected price hikes from Auto OEMs, the EBITDA margins ...
Hold Kansai Nerolac Paints Ltd For Target Rs.484- ICICI Securities
Hold Kansai Nerolac Paints Ltd For Target Rs.484- ICICI Securities
Source: ICICI Securities Ltd
20/12/2022 11:47:55 AM
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking Muted QoQ numbers; better performance ahead, maintain buy Weak QoQ but YoY revenue growth remained strong: Kansai Nerolac (KNPL) posted strong YoY numbers wherein revenue grew by 19.2% to Rs 1,931cr while QoQ revenue de-grew by 5.9%. The growth was driven largely by improved demand for the automotive segment, mainly passenger vehicles while demand for the decorative segment was muted due to the monsoon season. Focus on industrial than decorative segment: 1) KNPL focus is to grow industr...
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Source: Religare Broking Ltd
8/12/2022 12:53:06 PM
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers Buy Kansai Nerolac Paints Ltd For Target Rs. 610 Kansai’s reported Q2 FY23 healthy 19% revenue growth was in line with leader Asian Paints’, driven by growth resurgence in auto-paints while decorative paint volumes were flat y/y. Early Diwali and the prolonged rains could mar Q3 demand but softening input costs are expected to provide some respite in margins from Q4. We have reduced our FY23e/24e EPS to reflect the weaker Q2, and introduce FY25e. The expansion to new ...
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd.
5/11/2022 11:52:39 AM
Diwali Funadamental Muhurat Picks 2022 By Religare Broking Asian Paints Ltd: CMP 3,198, Target 3,952, Upside 23.6% Poised for colourful future Asian Paints is the market leader in India and 9th largest paint company globally. It has a strong hold over the decorative segment with a market share of 55%. It manufactures a wide range of coatings for decorative and industrial use and offer wall coverings, adhesives and services under their portfolio. Over the last few years, the company has forayed into the Home Décor segment including k...
Diwali Funadamental Muhurat Picks 2022 By Religare Broking
Diwali Funadamental Muhurat Picks 2022 By Religare Broking
Source: Religare Broking Ltd
18/10/2022 11:46:10 AM
Hold Kansai Nerolac Paints Ltd For Target Rs.560 - ICICI Direct Industrial segment drives performance About the stock: Kansai is the global leader in industrial coatings (automotive). However, in the last 10 years, it has increased its decorative paint mix to 55% of its total topline. Currently, Kansai is the third largest decorative paint player in India. * Strong distribution network of ~28,000 dealers across the country with 75-80% penetration of tinting machine * In the last two years, KNL has increased its total paint manufacturing capacity ...
Hold Kansai Nerolac Paints Ltd For Target Rs.560 - ICICI Direct
Hold Kansai Nerolac Paints Ltd For Target Rs.560 - ICICI Direct
Source: ICICI Direct Ltd
30/09/2022 3:58:12 PM
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers Softening input prices, better industrial demand; upgrading to a Buy Despite its strong performance, Kansai’s Q1 decorative paints’ volume growth was weaker, at 20%+, than Asian Paints’ ~35%. However, it indicated some market-share gains in industrial paints, even after forgoing some low-margin business. It has yet to fully pass on higher input costs in industrial and automotive paints, which would drive margin improvement in coming quarters. Further, its expansion to new...
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd
25/08/2022 2:01:37 PM
Cost push pressure weighs on paint stocks, Nerolac down 30% in 2022 Shares of paint companies are paying the price of rising fuel prices globally as input costs of the industry have increased off late. The paint industry uses crude oil derivatives such as monomers as well as titanium dioxide as raw materials, which typically account for more than 50 per cent of a company's total expense. Shares of Berger Paints fell 14 per cent in 2022, Kansai Nerolac Paints was down over 30 per cent during the period, whereas Asian Paints dropped nearly 11 per cent...
Cost push pressure weighs on paint stocks, Nerolac down 30% in 2022
Cost push pressure weighs on paint stocks, Nerolac down 30% in 2022
Source: IANS
11/05/2022 7:30:05 PM
Hold Kansai Nerolac Paints Ltd For Target Rs.630 - ICICI Direct Higher raw material prices drag profitability… About the stock: Kansai is the global leader in industrial coatings (automotive). However, in the last 10 years, it has increased its decorative paint mix to 55% of its total topline. Currently, Kansai is the third largest decorative paint player in India. * Strong distribution network of ~28,000 dealers across the country with 75-80% penetration of tinting machine * In the last two years, KNL has increased its total paint manufac...
Hold Kansai Nerolac Paints Ltd For Target Rs.630 - ICICI Direct
Hold Kansai Nerolac Paints Ltd For Target Rs.630 - ICICI Direct
Source: ICICI Direct
30/11/2021 9:13:24 AM
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking Short term pain; long term gains; Kansai Nerolac Paints Ltd (KNPL) posted mixed numbers for Q2FY22. Its revenue grew by 17.1% YoY to Rs 1,619.6cr, while its EBITDA and PAT witnessed de-growth of 39% YoY and 48% YoY. Demand from decorative was steady while lower demand from the industrial segment impacted the performance. In the near term, the company’s performance will be under pressure however long term seems promising on the back of better product mix, revival in industrial demand ...
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Source: Religare Broking Ltd
18/11/2021 4:16:30 PM
Add Kansai Nerolac Paints Ltd For Target Rs.680 - ICICI Securities Benefits of investments in new initiatives from FY23 and onwards Kansai Q1FY22 was in-line with our expectations (2-Year revenue CAGR was - 4.6% vs our expectations of -4.5%). Kansai is investing in (1) new segments (waterproofing, adhesives, wood coatings) as well as geographies (Sri Lanka, Bangladesh, Nepal). We note most of these initiatives are progressing well and reported strong growth in Q1FY22 and (2) The initiatives in digital and technologically superior products are also doin...
Add Kansai Nerolac Paints Ltd For Target Rs.680 - ICICI Securities
Add Kansai Nerolac Paints Ltd For Target Rs.680 - ICICI Securities
Source: ICICI Securities
10/09/2021 9:36:34 AM
Buy Kansai Nerolac Paints Ltd : Strong performance led by decorative paints - ICICI Direct Buy Kansai Nerolac Paints Ltd For Target Rs.750 About the stock: Kansai is the global leader in industrial coatings (automotive). However, in the last 10 years, it has increased its decorative paint mix to 55% of its total topline. Currently, Kansai is the third largest decorative paint player in India. * Strong distribution network of ~36,000 dealers across the country with 75-80% penetration of tinting machine. * In the last two years, KNL has increased its total paint manufacturin...
Buy Kansai Nerolac Paints Ltd : Strong performance led by decorative paints - ICICI Direct
Buy Kansai Nerolac Paints Ltd : Strong performance led by decorative paints - ICICI Direct
Source: ICICI Direct
4/09/2021 9:55:35 AM
Add Kansai Nerolac Paints Ltd For Target Rs.625 - ICICI Securities Another (margin) miss story; not unexpected though In our view, paint industry, particularly peers and larger players have likely outperformed Kansai Nerolac in 4Q. Highlights from its 4Q: (1) After strong Q4FY21 and healthy sales in three weeks of Apr’21, sales have declined. Almost 70% of depots and 90% of dealers are closed now, (2) Kansai has raised prices by 2.5% in Mar’21, partly covering input inflation of ~13%. It is in discussion with Automotive OEMs for price hikes...
Add Kansai Nerolac Paints Ltd For Target Rs.625 - ICICI Securities
Add Kansai Nerolac Paints Ltd For Target Rs.625 - ICICI Securities
Source: ICICI Securities Ltd
26/05/2021 11:24:43 AM
Buy Kansai Nerolac Paints Ltd For Target Rs. 655 - ICICI Direct Savings in other costs offset gross margin pressure… Kansai’s Q4FY21 volume growth at ~31% YoY along with cumulative price hikes of ~3% YoY was better than our estimate. Strong topline growth at 35% was largely on account demand revival and on a favourable base. However, gross margin were down ~410 bps YoY due to a delay in price hikes in the industrial paint and higher raw material cost. On the positive side, EBITDA margin was up 235 bps YoY to 15.3%, led by saving in other ...
Buy Kansai Nerolac Paints Ltd For Target Rs. 655 - ICICI Direct
Buy Kansai Nerolac Paints Ltd For Target Rs. 655 - ICICI Direct
Source: ICICI Direct
25/05/2021 11:27:27 AM
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking Investment Pick - Kansai Nerolac Paints Ltd Established in 1920, Kansai Nerolac Paints Limited (KNPL) is a subsidiary of Kansai Paint Co. Ltd., Japan. It is the second largest coating company in India and a market leader in Industrial Coatings. KNPL has well established products in both the decorative and industrial segments. It has pan-India presence with 6 manufacturing plants, 104 depots and 27,500+ customer network. In international markets it expanded in Nepal, Bangladesh and Sri-lank...
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Buy Kansai Nerolac Paints Ltd For Target Rs.705 - Religare Broking
Source: Religare Broking Ltd
12/03/2021 11:10:33 AM
High Conviction Idea - Kansai Nerolac Paints Ltd : Strong demand will lead the way By Religare Broking Buy Kansai Nerolac Paints Ltd.  For Target Rs.705 Strong demand will lead the way Established in 1920, Kansai Nerolac Paints Limited (KNPL) is a subsidiary of Kansai Paint Co. Ltd., Japan. It is the second largest coating company in India and a market leader in Industrial Coatings. KNPL has well established products in both the decorative and industrial segments. It has pan-India presence with 6 manufacturing plants, 104 depots and 27,500+ customer network. In international marke...
High Conviction Idea - Kansai Nerolac Paints Ltd : Strong demand will lead the way By Religare Broking
High Conviction Idea - Kansai Nerolac Paints Ltd : Strong demand will lead the way By Religare Broking
Source: Religare Broking Ltd
12/03/2021 9:30:43 AM
Add Kansai Nerolac Ltd For Target Rs.650 - HDFC Securities Performance lags leader KNPL’s 3Q performance (18% YoY; Rs. 14.7bn vs HSIE: Rs. 14.3bn) was nothing to scoff at. However, it’s decorative segment (volume/value growth estimated at 23/18.6%) did lag that of market leader APNT (33/26% YoY). Industrial Coating grew at 17% (off a low base). Performance gap was attributed to higher primers/putties sold by the leader. GM expansion lagged that of APNT’s (93bp YoY to 39.2% vs APNT +207bp) as mix continues to normalise in favour o...
Add Kansai Nerolac Ltd For Target Rs.650 - HDFC Securities
Add Kansai Nerolac Ltd For Target Rs.650 - HDFC Securities
Source: HDFC Seurities Ltd
9/03/2021 11:02:54 AM
Add Kansai Nerolac Ltd For Target Rs. 650 - HDFC Securities Performance lags leader KNPL’s 3Q performance (18% YoY; Rs. 14.7bn vs HSIE: Rs. 14.3bn) was nothing to scoff at. However, it’s decorative segment (volume/value growth estimated at 23/18.6%) did lag that of market leader APNT (33/26% YoY). Industrial Coating grew at 17% (off a low base). Performance gap was attributed to higher primers/putties sold by the leader. GM expansion lagged that of APNT’s (93bp YoY to 39.2% vs APNT +207bp) as mix continues to normalise in favour o...
Add Kansai Nerolac Ltd For Target Rs. 650 - HDFC Securities
Add Kansai Nerolac Ltd For Target Rs. 650 - HDFC Securities
Source: HDFC Securities Ltd
22/02/2021 10:21:31 AM