Kansai Nerolac Paints Ltd.

•

₹ 205.852.15%

2026-08-21

nerolac.comBSE: 500165NSE: KANSAINER

Market Cap₹ 16,285 Cr.

Current Price₹ 206

High / Low₹ 264 / 158

Stock P/E0.0

Book Value₹ 86

Price to Book2.02

Dividend Yield1.24 %

ROCE13.1 %

ROE9.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.4%
Company has been maintaining a healthy dividend payout of 32.6%
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Company has delivered a poor profit growth of 3.2% over past five years
Recurring exceptional / one-off items are inflating headline profit
Expensive relative to growth - PEG of 2.6

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Consumer DurablesChemicalsPaints

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ASIANPAINT	2625.00	52.84	251789.42	1.05	1559.45	39.60	10541.94	18.12	28.22	20.93
2.	BERGEPAINT	527.55	50.56	61512.48	0.76	405.01	28.56	3583.75	11.97	23.14	17.28
3.	KANSAINER	201.35	27.13	16284.76	1.24	228.41	5.95	2373.59	9.79	12.44	13.83
4.	JSWDULUX	3086.15	7.16	14054.42	6.67	79.70	-12.42	965.00	-3.02	125.82	11.93
5.	INDIGOPNTS	1130.60	33.54	5396.65	0.44	41.70	60.04	369.67	19.69	19.92	16.78

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,071	1,846	1,815	1,662	2,050	1,864	1,842	1,740	2,087	1,871	1,907	1,873	2,300
	1,737	1,576	1,575	1,483	1,716	1,649	1,595	1,563	1,775	1,659	1,660	1,658	2,030
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	16	22	22	32	38	27	37	39	53	29	37	34	56
Interest	3	3	3	3	3	3	5	4	4	4	6	5	5
Depreciation	43	45	46	46	46	46	51	50	51	53	59	59	61
	966	244	213	143	323	192	707	164	310	184	175	169	326
Tax %	22.99%	26.24%	25.95%	29.12%	25.45%	32.24%	25.56%	24.62%	25.55%	25.73%	25.02%	28.38%	25.61%
Net Profit	744	180	158	102	241	130	526	123	231	137	131	121	242
	9	2	2	1	3	2	7	2	3	2	2	1	0
Equity Capital	54	81	81	81	81	81	81	81	81	81	81	81	81
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	54	81	81	81	81	81	81	81	81	81	81	81	81
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 2,071
: 1,737
Operating Profit: —
OPM %: —
Other Income: 16
Interest: 3
Depreciation: 43
: 966
Tax %: 22.99%
Net Profit: 744
: 9
Equity Capital: 54
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 54
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 1,846
: 1,576
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 3
Depreciation: 45
: 244
Tax %: 26.24%
Net Profit: 180
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 1,815
: 1,575
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 3
Depreciation: 46
: 213
Tax %: 25.95%
Net Profit: 158
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 1,662
: 1,483
Operating Profit: —
OPM %: —
Other Income: 32
Interest: 3
Depreciation: 46
: 143
Tax %: 29.12%
Net Profit: 102
: 1
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 2,050
: 1,716
Operating Profit: —
OPM %: —
Other Income: 38
Interest: 3
Depreciation: 46
: 323
Tax %: 25.45%
Net Profit: 241
: 3
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 1,864
: 1,649
Operating Profit: —
OPM %: —
Other Income: 27
Interest: 3
Depreciation: 46
: 192
Tax %: 32.24%
Net Profit: 130
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 1,842
: 1,595
Operating Profit: —
OPM %: —
Other Income: 37
Interest: 5
Depreciation: 51
: 707
Tax %: 25.56%
Net Profit: 526
: 7
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 1,740
: 1,563
Operating Profit: —
OPM %: —
Other Income: 39
Interest: 4
Depreciation: 50
: 164
Tax %: 24.62%
Net Profit: 123
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 2,087
: 1,775
Operating Profit: —
OPM %: —
Other Income: 53
Interest: 4
Depreciation: 51
: 310
Tax %: 25.55%
Net Profit: 231
: 3
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 1,871
: 1,659
Operating Profit: —
OPM %: —
Other Income: 29
Interest: 4
Depreciation: 53
: 184
Tax %: 25.73%
Net Profit: 137
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 1,907
: 1,660
Operating Profit: —
OPM %: —
Other Income: 37
Interest: 6
Depreciation: 59
: 175
Tax %: 25.02%
Net Profit: 131
: 2
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 1,873
: 1,658
Operating Profit: —
OPM %: —
Other Income: 34
Interest: 5
Depreciation: 59
: 169
Tax %: 28.38%
Net Profit: 121
: 1
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 2,300
: 2,030
Operating Profit: —
OPM %: —
Other Income: 56
Interest: 5
Depreciation: 61
: 326
Tax %: 25.61%
Net Profit: 242
: 0
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,999	4,587	5,174	4,943	4,771	5,949	7,081	7,393	7,497	7,739	7,951
	3,269	3,797	4,432	4,162	3,927	5,302	6,287	6,370	6,523	6,753	7,007
Operating Profit	828	862	804	808	882	680	825	1,116	1,116	1,139	—
OPM %	21	19	16	16	18	11	12	15	15	15	—
Other Income	98	72	62	27	39	33	31	93	142	152	156
Interest	0	0	0	5	8	10	10	12	15	18	20
Depreciation	69	76	90	120	149	154	165	180	194	221	231
	759	786	713	684	714	505	650	1,566	1,387	838	854
Tax %	33	34	34	22	26	26	25	24	26	26	26
Net Profit	506	516	467	535	531	374	486	1,183	1,021	620	631
EPS	9	10	9	10	10	7	6	15	13	8	—
Dividend Payout %	32	27	30	32	53	32	30	26	30	33	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	6	6	7	7	5	6	15	13	8	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	6	6	7	7	5	6	15	13	8	—

Mar 2017

: 3,999
: 3,269
Operating Profit: 828
OPM %: 21
Other Income: 98
Interest: 0
Depreciation: 69
: 759
Tax %: 33
Net Profit: 506
EPS: 9
Dividend Payout %: 32
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2018

: 4,587
: 3,797
Operating Profit: 862
OPM %: 19
Other Income: 72
Interest: 0
Depreciation: 76
: 786
Tax %: 34
Net Profit: 516
EPS: 10
Dividend Payout %: 27
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2019

: 5,174
: 4,432
Operating Profit: 804
OPM %: 16
Other Income: 62
Interest: 0
Depreciation: 90
: 713
Tax %: 34
Net Profit: 467
EPS: 9
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2020

: 4,943
: 4,162
Operating Profit: 808
OPM %: 16
Other Income: 27
Interest: 5
Depreciation: 120
: 684
Tax %: 22
Net Profit: 535
EPS: 10
Dividend Payout %: 32
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2021

: 4,771
: 3,927
Operating Profit: 882
OPM %: 18
Other Income: 39
Interest: 8
Depreciation: 149
: 714
Tax %: 26
Net Profit: 531
EPS: 10
Dividend Payout %: 53
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2022

: 5,949
: 5,302
Operating Profit: 680
OPM %: 11
Other Income: 33
Interest: 10
Depreciation: 154
: 505
Tax %: 26
Net Profit: 374
EPS: 7
Dividend Payout %: 32
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2023

: 7,081
: 6,287
Operating Profit: 825
OPM %: 12
Other Income: 31
Interest: 10
Depreciation: 165
: 650
Tax %: 25
Net Profit: 486
EPS: 6
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 7,393
: 6,370
Operating Profit: 1,116
OPM %: 15
Other Income: 93
Interest: 12
Depreciation: 180
: 1,566
Tax %: 24
Net Profit: 1,183
EPS: 15
Dividend Payout %: 26
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15

Mar 2025

: 7,497
: 6,523
Operating Profit: 1,116
OPM %: 15
Other Income: 142
Interest: 15
Depreciation: 194
: 1,387
Tax %: 26
Net Profit: 1,021
EPS: 13
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13

Mar 2026

: 7,739
: 6,753
Operating Profit: 1,139
OPM %: 15
Other Income: 152
Interest: 18
Depreciation: 221
: 838
Tax %: 26
Net Profit: 620
EPS: 8
Dividend Payout %: 33
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

TTM

: 7,951
: 7,007
Operating Profit: —
OPM %: —
Other Income: 156
Interest: 20
Depreciation: 231
: 854
Tax %: 26
Net Profit: 631
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 10%
3 Years:: 3%

COMPOUNDED PROFIT GROWTH

10 Years:: -4%
5 Years:: 3%
3 Years:: 8%

STOCK PRICE CAGR

10 Years:: -2%
5 Years:: -13%
3 Years:: -14%
1 Year:: -14%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 14%
3 Years:: 17%
Last Year:: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	54	54	54	54	54	54	54	81	81	81
	2,751	3,071	3,371	3,733	4,023	4,117	4,550	5,556	6,273	6,602
	0	0	0	0	8	0	0	0	0	0
Trade Payables	550	684	632	520	823	890	938	980	1,024	1,075
	242	259	250	286	330	334	534	607	592	780
Total Liabilities	3,597	4,068	4,306	4,592	5,238	5,396	6,075	7,225	7,969	8,539
ASSETS	-	-	-	-	-	-	-	-	-	-
	946	1,006	1,316	1,708	1,777	1,876	1,995	2,074	2,160	2,333
Capital Work in Progress	142	343	315	164	206	224	113	148	221	169
	553	546	304	455	770	300	653	1,459	1,907	2,422
	691	806	1,053	930	1,112	1,532	1,648	1,616	1,610	1,493
	0	0	0	0	0	0	0	1,215	1,275	1,380
Cash & Bank	250	361	81	166	83	81	95	230	260	192
	1,015	1,006	1,237	1,168	1,290	1,383	1,572	483	537	549
Total Assets	3,597	4,068	4,306	4,592	5,238	5,396	6,075	7,225	7,969	8,539
Total Debt	29	18	10	3	8	0	0	0	0	0
Net Working Capital	1,660	1,678	1,389	1,592	1,943	1,950	2,311	3,264	3,886	4,117
Contingent Liabilities	9	10	39	70	143	142	67	130	44	29
Book Value per Share	52.06	57.99	63.55	70.27	75.65	77.40	85.43	69.73	78.60	82.64
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Total Debt	29	18	10	3	8	0	0	0	0	0
Net Working Capital	1,660	1,678	1,389	1,592	1,943	1,950	2,311	3,264	3,886	4,117
Contingent Liabilities	9	10	39	70	143	142	67	130	44	29
Book Value per Share	52.06	57.99	63.55	70.27	75.65	77.40	85.43	69.73	78.60	82.64
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

Mar 2017

Equity Capital: 54
: 2,751
: 0
Trade Payables: 550
: 242
Total Liabilities: 3,597
: 946
Capital Work in Progress: 142
: 553
: 691
: 0
Cash & Bank: 250
: 1,015
Total Assets: 3,597
Total Debt: 29
Net Working Capital: 1,660
Contingent Liabilities: 9
Book Value per Share: 52.06
Face Value: 1.00
Total Debt: 29
Net Working Capital: 1,660
Contingent Liabilities: 9
Book Value per Share: 52.06
Face Value: 1.00

Mar 2018

Equity Capital: 54
: 3,071
: 0
Trade Payables: 684
: 259
Total Liabilities: 4,068
: 1,006
Capital Work in Progress: 343
: 546
: 806
: 0
Cash & Bank: 361
: 1,006
Total Assets: 4,068
Total Debt: 18
Net Working Capital: 1,678
Contingent Liabilities: 10
Book Value per Share: 57.99
Face Value: 1.00
Total Debt: 18
Net Working Capital: 1,678
Contingent Liabilities: 10
Book Value per Share: 57.99
Face Value: 1.00

Mar 2019

Equity Capital: 54
: 3,371
: 0
Trade Payables: 632
: 250
Total Liabilities: 4,306
: 1,316
Capital Work in Progress: 315
: 304
: 1,053
: 0
Cash & Bank: 81
: 1,237
Total Assets: 4,306
Total Debt: 10
Net Working Capital: 1,389
Contingent Liabilities: 39
Book Value per Share: 63.55
Face Value: 1.00
Total Debt: 10
Net Working Capital: 1,389
Contingent Liabilities: 39
Book Value per Share: 63.55
Face Value: 1.00

Mar 2020

Equity Capital: 54
: 3,733
: 0
Trade Payables: 520
: 286
Total Liabilities: 4,592
: 1,708
Capital Work in Progress: 164
: 455
: 930
: 0
Cash & Bank: 166
: 1,168
Total Assets: 4,592
Total Debt: 3
Net Working Capital: 1,592
Contingent Liabilities: 70
Book Value per Share: 70.27
Face Value: 1.00
Total Debt: 3
Net Working Capital: 1,592
Contingent Liabilities: 70
Book Value per Share: 70.27
Face Value: 1.00

Mar 2021

Equity Capital: 54
: 4,023
: 8
Trade Payables: 823
: 330
Total Liabilities: 5,238
: 1,777
Capital Work in Progress: 206
: 770
: 1,112
: 0
Cash & Bank: 83
: 1,290
Total Assets: 5,238
Total Debt: 8
Net Working Capital: 1,943
Contingent Liabilities: 143
Book Value per Share: 75.65
Face Value: 1.00
Total Debt: 8
Net Working Capital: 1,943
Contingent Liabilities: 143
Book Value per Share: 75.65
Face Value: 1.00

Mar 2022

Equity Capital: 54
: 4,117
: 0
Trade Payables: 890
: 334
Total Liabilities: 5,396
: 1,876
Capital Work in Progress: 224
: 300
: 1,532
: 0
Cash & Bank: 81
: 1,383
Total Assets: 5,396
Total Debt: 0
Net Working Capital: 1,950
Contingent Liabilities: 142
Book Value per Share: 77.40
Face Value: 1.00
Total Debt: 0
Net Working Capital: 1,950
Contingent Liabilities: 142
Book Value per Share: 77.40
Face Value: 1.00

Mar 2023

Equity Capital: 54
: 4,550
: 0
Trade Payables: 938
: 534
Total Liabilities: 6,075
: 1,995
Capital Work in Progress: 113
: 653
: 1,648
: 0
Cash & Bank: 95
: 1,572
Total Assets: 6,075
Total Debt: 0
Net Working Capital: 2,311
Contingent Liabilities: 67
Book Value per Share: 85.43
Face Value: 1.00
Total Debt: 0
Net Working Capital: 2,311
Contingent Liabilities: 67
Book Value per Share: 85.43
Face Value: 1.00

Mar 2024

Equity Capital: 81
: 5,556
: 0
Trade Payables: 980
: 607
Total Liabilities: 7,225
: 2,074
Capital Work in Progress: 148
: 1,459
: 1,616
: 1,215
Cash & Bank: 230
: 483
Total Assets: 7,225
Total Debt: 0
Net Working Capital: 3,264
Contingent Liabilities: 130
Book Value per Share: 69.73
Face Value: 1.00
Total Debt: 0
Net Working Capital: 3,264
Contingent Liabilities: 130
Book Value per Share: 69.73
Face Value: 1.00

Mar 2025

Equity Capital: 81
: 6,273
: 0
Trade Payables: 1,024
: 592
Total Liabilities: 7,969
: 2,160
Capital Work in Progress: 221
: 1,907
: 1,610
: 1,275
Cash & Bank: 260
: 537
Total Assets: 7,969
Total Debt: 0
Net Working Capital: 3,886
Contingent Liabilities: 44
Book Value per Share: 78.60
Face Value: 1.00
Total Debt: 0
Net Working Capital: 3,886
Contingent Liabilities: 44
Book Value per Share: 78.60
Face Value: 1.00

Mar 2026

Equity Capital: 81
: 6,602
: 0
Trade Payables: 1,075
: 780
Total Liabilities: 8,539
: 2,333
Capital Work in Progress: 169
: 2,422
: 1,493
: 1,380
Cash & Bank: 192
: 549
Total Assets: 8,539
Total Debt: 0
Net Working Capital: 4,117
Contingent Liabilities: 29
Book Value per Share: 82.64
Face Value: 1.00
Total Debt: 0
Net Working Capital: 4,117
Contingent Liabilities: 29
Book Value per Share: 82.64
Face Value: 1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	345	377	110	621	655	59	386	895	647	885
Cash from Investing	-567	-155	86	-344	-465	251	-274	-636	-372	-429
Cash from Financing	-212	-206	-178	-192	-276	-324	-89	-187	-352	-358
	-433	17	18	85	-86	-14	24	72	-77	98
Free Cash Flow	156	42	-260	259	383	-193	228	638	318	572
OCF / Net Profit	0.68	0.73	0.24	1.16	1.23	0.16	0.79	0.76	0.63	1.43
Cumulative 5-Year FCF	0	0	0	0	580	231	417	1,315	1,374	1,563
OCF / Net Profit	0.68	0.73	0.24	1.16	1.23	0.16	0.79	0.76	0.63	1.43
Cumulative 5-Year FCF	0	0	0	0	580	231	417	1,315	1,374	1,563

Mar 2017

: 345
Cash from Investing: -567
Cash from Financing: -212
: -433
Free Cash Flow: 156
OCF / Net Profit: 0.68
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.68
Cumulative 5-Year FCF: 0

Mar 2018

: 377
Cash from Investing: -155
Cash from Financing: -206
: 17
Free Cash Flow: 42
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0

Mar 2019

: 110
Cash from Investing: 86
Cash from Financing: -178
: 18
Free Cash Flow: -260
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.24
Cumulative 5-Year FCF: 0

Mar 2020

: 621
Cash from Investing: -344
Cash from Financing: -192
: 85
Free Cash Flow: 259
OCF / Net Profit: 1.16
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.16
Cumulative 5-Year FCF: 0

Mar 2021

: 655
Cash from Investing: -465
Cash from Financing: -276
: -86
Free Cash Flow: 383
OCF / Net Profit: 1.23
Cumulative 5-Year FCF: 580
OCF / Net Profit: 1.23
Cumulative 5-Year FCF: 580

Mar 2022

: 59
Cash from Investing: 251
Cash from Financing: -324
: -14
Free Cash Flow: -193
OCF / Net Profit: 0.16
Cumulative 5-Year FCF: 231
OCF / Net Profit: 0.16
Cumulative 5-Year FCF: 231

Mar 2023

: 386
Cash from Investing: -274
Cash from Financing: -89
: 24
Free Cash Flow: 228
OCF / Net Profit: 0.79
Cumulative 5-Year FCF: 417
OCF / Net Profit: 0.79
Cumulative 5-Year FCF: 417

Mar 2024

: 895
Cash from Investing: -636
Cash from Financing: -187
: 72
Free Cash Flow: 638
OCF / Net Profit: 0.76
Cumulative 5-Year FCF: 1,315
OCF / Net Profit: 0.76
Cumulative 5-Year FCF: 1,315

Mar 2025

: 647
Cash from Investing: -372
Cash from Financing: -352
: -77
Free Cash Flow: 318
OCF / Net Profit: 0.63
Cumulative 5-Year FCF: 1,374
OCF / Net Profit: 0.63
Cumulative 5-Year FCF: 1,374

Mar 2026

: 885
Cash from Investing: -429
Cash from Financing: -358
: 98
Free Cash Flow: 572
OCF / Net Profit: 1.43
Cumulative 5-Year FCF: 1,563
OCF / Net Profit: 1.43
Cumulative 5-Year FCF: 1,563

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	9.39	9.58	8.67	9.94	9.85	6.95	9.03	14.63	12.63	7.66
Book Value (₹)	52.06	57.99	63.55	70.27	75.65	77.40	85.43	69.73	78.60	82.64
Dividend per Share (₹)	3.00	2.60	2.60	3.15	5.25	2.25	2.70	3.75	3.75	2.50
Cash EPS (₹)	7.11	7.33	6.90	8.11	8.41	6.53	8.05	16.86	15.03	10.40
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	16.77%	16.59%	14.15%	14.73%	16.48%	10.22%	10.44%	12.44%	11.66%	11.45%
Net Margin %	10.25%	9.94%	8.22%	9.76%	9.91%	5.63%	6.16%	14.39%	12.23%	7.20%
ROE %	19.06%	17.42%	14.27%	14.85%	13.49%	9.08%	11.09%	23.10%	17.03%	9.51%
ROCE %	28.24%	26.31%	21.69%	19.06%	18.35%	12.48%	15.04%	30.76%	23.32%	13.12%
	14.86%	13.47%	11.16%	12.03%	10.79%	7.04%	8.48%	17.79%	13.44%	7.51%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	41	44	43	45	52	50	48	52	54	56
Inventory Days	47	53	60	66	70	73	73	72	70	66
Payable Days	96	92	82	77	94	86	73	77	76	76
	-9	4	21	34	27	36	49	47	49	46
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	0.00x	0.00x	0.00x	137.72x	85.21x	52.18x	67.84x	126.67x	92.89x	46.53x
	3.39x	2.97x	2.80x	3.37x	2.96x	2.91x	2.85x	3.48x	4.02x	3.75x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	6.97%	14.69%	12.80%	-4.45%	-3.49%	24.69%	19.03%	4.41%	1.40%	3.23%
Operating Profit Growth %	36.53%	4.14%	-6.76%	0.57%	9.14%	-22.91%	21.25%	35.32%	0.02%	2.01%
Net Profit Growth %	-43.71%	2.07%	-9.50%	14.56%	-0.90%	-29.45%	29.95%	143.17%	-13.66%	-39.30%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	62.11%	-13.66%	-39.33%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.92x	18.41x	21.79x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.76x	2.96x	2.02x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.43%	1.61%	1.50%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	18.79x	16.61x	11.70x

Mar 2017

EPS (₹): 9.39
Book Value (₹): 52.06
Dividend per Share (₹): 3.00
Cash EPS (₹): 7.11
Operating Margin %: 16.77%
Net Margin %: 10.25%
ROE %: 19.06%
ROCE %: 28.24%
: 14.86%
Debtor Days: 41
Inventory Days: 47
Payable Days: 96
: -9
Debt to Equity (x): 0.01x
Interest Coverage (x): 0.00x
: 3.39x
Revenue Growth %: 6.97%
Operating Profit Growth %: 36.53%
Net Profit Growth %: -43.71%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 9.58
Book Value (₹): 57.99
Dividend per Share (₹): 2.60
Cash EPS (₹): 7.33
Operating Margin %: 16.59%
Net Margin %: 9.94%
ROE %: 17.42%
ROCE %: 26.31%
: 13.47%
Debtor Days: 44
Inventory Days: 53
Payable Days: 92
: 4
Debt to Equity (x): 0.01x
Interest Coverage (x): 0.00x
: 2.97x
Revenue Growth %: 14.69%
Operating Profit Growth %: 4.14%
Net Profit Growth %: 2.07%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 8.67
Book Value (₹): 63.55
Dividend per Share (₹): 2.60
Cash EPS (₹): 6.90
Operating Margin %: 14.15%
Net Margin %: 8.22%
ROE %: 14.27%
ROCE %: 21.69%
: 11.16%
Debtor Days: 43
Inventory Days: 60
Payable Days: 82
: 21
Debt to Equity (x): 0.00x
Interest Coverage (x): 0.00x
: 2.80x
Revenue Growth %: 12.80%
Operating Profit Growth %: -6.76%
Net Profit Growth %: -9.50%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 9.94
Book Value (₹): 70.27
Dividend per Share (₹): 3.15
Cash EPS (₹): 8.11
Operating Margin %: 14.73%
Net Margin %: 9.76%
ROE %: 14.85%
ROCE %: 19.06%
: 12.03%
Debtor Days: 45
Inventory Days: 66
Payable Days: 77
: 34
Debt to Equity (x): 0.00x
Interest Coverage (x): 137.72x
: 3.37x
Revenue Growth %: -4.45%
Operating Profit Growth %: 0.57%
Net Profit Growth %: 14.56%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 9.85
Book Value (₹): 75.65
Dividend per Share (₹): 5.25
Cash EPS (₹): 8.41
Operating Margin %: 16.48%
Net Margin %: 9.91%
ROE %: 13.49%
ROCE %: 18.35%
: 10.79%
Debtor Days: 52
Inventory Days: 70
Payable Days: 94
: 27
Debt to Equity (x): 0.00x
Interest Coverage (x): 85.21x
: 2.96x
Revenue Growth %: -3.49%
Operating Profit Growth %: 9.14%
Net Profit Growth %: -0.90%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 6.95
Book Value (₹): 77.40
Dividend per Share (₹): 2.25
Cash EPS (₹): 6.53
Operating Margin %: 10.22%
Net Margin %: 5.63%
ROE %: 9.08%
ROCE %: 12.48%
: 7.04%
Debtor Days: 50
Inventory Days: 73
Payable Days: 86
: 36
Debt to Equity (x): 0.00x
Interest Coverage (x): 52.18x
: 2.91x
Revenue Growth %: 24.69%
Operating Profit Growth %: -22.91%
Net Profit Growth %: -29.45%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 9.03
Book Value (₹): 85.43
Dividend per Share (₹): 2.70
Cash EPS (₹): 8.05
Operating Margin %: 10.44%
Net Margin %: 6.16%
ROE %: 11.09%
ROCE %: 15.04%
: 8.48%
Debtor Days: 48
Inventory Days: 73
Payable Days: 73
: 49
Debt to Equity (x): 0.00x
Interest Coverage (x): 67.84x
: 2.85x
Revenue Growth %: 19.03%
Operating Profit Growth %: 21.25%
Net Profit Growth %: 29.95%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 14.63
Book Value (₹): 69.73
Dividend per Share (₹): 3.75
Cash EPS (₹): 16.86
Operating Margin %: 12.44%
Net Margin %: 14.39%
ROE %: 23.10%
ROCE %: 30.76%
: 17.79%
Debtor Days: 52
Inventory Days: 72
Payable Days: 77
: 47
Debt to Equity (x): 0.00x
Interest Coverage (x): 126.67x
: 3.48x
Revenue Growth %: 4.41%
Operating Profit Growth %: 35.32%
Net Profit Growth %: 143.17%
: 62.11%
P/E (x): 17.92x
P/B (x): 3.76x
Dividend Yield %: 1.43%
: 18.79x

Mar 2025

EPS (₹): 12.63
Book Value (₹): 78.60
Dividend per Share (₹): 3.75
Cash EPS (₹): 15.03
Operating Margin %: 11.66%
Net Margin %: 12.23%
ROE %: 17.03%
ROCE %: 23.32%
: 13.44%
Debtor Days: 54
Inventory Days: 70
Payable Days: 76
: 49
Debt to Equity (x): 0.00x
Interest Coverage (x): 92.89x
: 4.02x
Revenue Growth %: 1.40%
Operating Profit Growth %: 0.02%
Net Profit Growth %: -13.66%
: -13.66%
P/E (x): 18.41x
P/B (x): 2.96x
Dividend Yield %: 1.61%
: 16.61x

Mar 2026

EPS (₹): 7.66
Book Value (₹): 82.64
Dividend per Share (₹): 2.50
Cash EPS (₹): 10.40
Operating Margin %: 11.45%
Net Margin %: 7.20%
ROE %: 9.51%
ROCE %: 13.12%
: 7.51%
Debtor Days: 56
Inventory Days: 66
Payable Days: 76
: 46
Debt to Equity (x): 0.00x
Interest Coverage (x): 46.53x
: 3.75x
Revenue Growth %: 3.23%
Operating Profit Growth %: 2.01%
Net Profit Growth %: -39.30%
: -39.33%
P/E (x): 21.79x
P/B (x): 2.02x
Dividend Yield %: 1.50%
: 11.70x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.99	74.99	74.99	74.98	74.98	74.98	74.98	74.96	74.96
	5.09	5.56	5.36	5.30	5.40	5.61	5.17	3.60	4.02
	10.72	10.28	10.24	10.10	10.20	10.03	10.41	11.90	11.88
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.19	9.17	9.42	9.61	9.40	9.38	9.43	9.53	9.13

Jun 2024

: 74.99
: 5.09
: 10.72
Government: 0.00
: 9.19

Sep 2024

: 74.99
: 5.56
: 10.28
Government: 0.00
: 9.17

Dec 2024

: 74.99
: 5.36
: 10.24
Government: 0.00
: 9.42

Mar 2025

: 74.98
: 5.30
: 10.10
Government: 0.00
: 9.61

Jun 2025

: 74.98
: 5.40
: 10.20
Government: 0.00
: 9.40

Sep 2025

: 74.98
: 5.61
: 10.03
Government: 0.00
: 9.38

Dec 2025

: 74.98
: 5.17
: 10.41
Government: 0.00
: 9.43

Mar 2026

: 74.96
: 3.60
: 11.90
Government: 0.00
: 9.53

Jun 2026

: 74.96
: 4.02
: 11.88
Government: 0.00
: 9.13

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-10 - Kansai Nerolac Paints Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-03 - Kansai Nerolac Paints Limited has informed the Exchange about Link of recordings

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Mar 2026
Transcript PPTREC