Is Kansai Nerolac Paints a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kansai Nerolac Paints Ltd is a good quality company .

Is Kansai Nerolac Paints undervalued or overvalued?

The key valuation ratios of Kansai Nerolac Paints Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone .

What is Kansai Nerolac Paints share price return in the past 10 years?

Kansai Nerolac Paints Ltd share price has appreciated 11.9% annually (CAGR) over the past ten years.

Is Kansai Nerolac Paints a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kansai Nerolac Paints Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

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

The latest standalone P/E ratio of Kansai Nerolac Paints as of 11-Jun-2024 is 19.43.

What is the P/B ratio of Kansai Nerolac Paints?

The latest standalone P/B ratio of Kansai Nerolac Paints as of 11-Jun-2024 is 4.08.

Kansai Nerolac Paints Ltd - Stock Valuation and Financial Performance

Name: Kansai Nerolac Paints
Brand: Kansai Nerolac Paints

BSE: 500165 | NSE: KANSAINER | Paints | Small Cap

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Kansai Nerolac Paint Share Price

₹283.25 -1.05 -0.37%
as on 11-Jun'24 16:01

10 Year X-Ray of Kansai Nerolac Paint:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	16.8%	24.9%	17%	16.2%	13.4%	14.7%	13.4%	9%	11%	13.7%	-
Value Creation Index ⓘ	0.2	0.8	0.3	0.4	0.2	0.3	0.2	-0.2	0.0	0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	3,549	3,739	3,999	4,587	5,174	4,943	4,771	5,949	7,081	7,393	7,393
Sales YoY Gr.	-	5.3%	7%	14.7%	12.8%	-4.5%	-3.5%	24.7%	19%	4.4%	-
Adj EPS ⓘ	3.2	6.4	5.7	6	5.5	6.5	6.4	4.5	5.9	8.6	14.6
YoY Gr.	-	99.1%	-12.1%	6.4%	-9.3%	19.8%	-1.4%	-30%	30.2%	45.8%	-
BVPS (₹) ⓘ	19.8	31	34.7	38.7	42.4	46.9	50.4	51.6	57	69.7	69.7
Adj Net Profit ⓘ	261	520	456	485	441	528	520	365	475	692	1,183
Cash Flow from Ops. ⓘ	302	390	345	377	110	621	655	59.1	386	895	-
Debt/CF from Ops. ⓘ	0.1	0.1	0.1	0.1	0.1	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	8.5%	7.4%	15.7%	4.4%
Adj EPS ⓘ	11.4%	9.5%	10%	45.8%
BVPSⓘ	15.1%	10.5%	11.4%	22.4%
Share Price	11.9%	-1.1%	-10%	-2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	17.3	25.4	17.2	16.4	13.5	14.6	13.2	8.8	10.8	13.5	21
Op. Profit Mgn % ⓘ	12.5	15.5	18.3	17.2	14.3	15.8	17.7	10.9	11.2	13.8	13.8
Net Profit Mgn % ⓘ	7.4	13.9	11.4	10.6	8.5	10.7	10.9	6.1	6.7	9.4	16
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	101	94	108	124	132	146	153	146	142	145	114
Cash Conv. Cycle ⓘ	46	34	25	37	49	59	60	65	71	70	81

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 21.00%

Sales growth is growing at healthy rate in last 3 years 15.72%

Net Profit has been subdued in last 3 years 9.95%

Sales growth is not so good in last 4 quarters at 4.37%

Latest Financials - Kansai Nerolac Paints Ltd.

	Standalone	Consolidated
TTM EPS (₹)	14.6	14.7
TTM Sales (₹ Cr.)	7,393	7,801
BVPS (₹.) ⓘ	69.7	68.9
Reserves (₹ Cr.) ⓘ	5,556	5,486
P/BV ⓘ	4.08	4.13
PE ⓘ	19.43	19.39

From the Market
52 Week Low / High (₹)	252.20 / 355.00
All Time Low / High (₹)	1.45 / 453.07
Market Cap (₹ Cr.)	22,982
Equity (₹ Cr.)	80.8
Face Value (₹)	1
Industry PE ⓘ	47

Management X-Ray of Kansai Nerolac Paint:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Kansai Nerolac Paint

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Kansai Nerolac Paint

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	3,549	3,739	3,999	4,587	5,174	4,943	4,771	5,949	7,081	7,393
Operating Expenses ⓘ	3,104	3,159	3,269	3,797	4,432	4,162	3,927	5,302	6,287	6,370
Manufacturing Costs	344	373	395	459	525	448	456	603	658	638
Material Costs	2,119	2,090	2,071	2,447	2,926	2,728	2,605	3,644	4,440	4,289
Employee Cost	143	157	182	210	238	269	269	312	334	402
Other Costs ⓘ	498	539	621	681	743	716	598	742	856	1,041
Operating Profit ⓘ	445	579	730	790	742	782	844	647	794	1,023
Operating Profit Margin (%)	12.5%	15.5%	18.2%	17.2%	14.3%	15.8%	17.7%	10.9%	11.2%	13.8%
Other Income ⓘ	22	27	98	72	62	27	39	33	31	93
Interest ⓘ	0	0	0	0	0	5	8	10	10	12
Depreciation ⓘ	68	67	69	76	90	120	149	154	165	180
Exceptional Items ⓘ	0	535	0	0	0	0	-11	-11	0	642
Profit Before Tax ⓘ	399	1,075	759	786	713	684	714	505	650	1,566
Tax ⓘ	127	176	253	270	246	148	183	131	164	383
Profit After Tax	272	899	506	516	467	535	531	374	486	1,183
PAT Margin (%)	7.7%	24.0%	12.7%	11.3%	9.0%	10.8%	11.1%	6.3%	6.9%	16.0%
Adjusted EPS (₹)	3.4	11.1	6.3	6.4	5.8	6.6	6.6	4.6	6.0	14.6
Dividend Payout Ratio (%)	28%	18%	32%	27%	30%	32%	53%	32%	30%	26%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	1,597	2,503	2,805	3,125	3,424	3,787	4,077	4,171	4,604	5,637
Share Capital ⓘ	54	54	54	54	54	54	54	54	54	81
Reserves ⓘ	1,543	2,449	2,751	3,071	3,371	3,733	4,023	4,117	4,550	5,556
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	42	29	18	10	3	0	8	0	0	0
Long Term Debt	42	29	18	10	3	0	0	0	0	0
Short Term Debt	0	0	0	0	0	0	8	0	0	0
Trade Payables	322	543	550	684	632	520	823	890	938	1,024
Others Liabilities ⓘ	383	136	224	249	246	286	330	334	534	563
Total Liabilities ⓘ	2,343	3,211	3,597	4,068	4,306	4,592	5,238	5,396	6,075	7,225
Fixed Assets
Gross Block	1,399	1,481	1,570	1,704	2,103	2,615	2,846	3,080	3,349	3,577
Accumulated Depreciation	494	555	624	698	788	906	1,069	1,204	1,354	1,503
Net Fixed Assetsⓘ	905	926	946	1,006	1,316	1,708	1,777	1,876	1,995	2,074
CWIP ⓘ	44	42	142	343	315	164	206	224	113	152
Investmentsⓘ	216	547	553	546	304	455	770	300	653	1,459
Inventories	542	572	691	806	1,053	930	1,112	1,532	1,648	1,616
Trade Receivables	496	525	572	676	674	675	847	965	1,117	1,215
Cash Equivalents	34	478	250	361	81	166	83	81	95	230
Others Assetsⓘ	107	122	443	330	563	494	444	418	455	479
Total Assets ⓘ	2,343	3,211	3,597	4,068	4,306	4,592	5,238	5,396	6,075	7,225

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	302	390	345	377	110	621	655	59	386	895
PBT ⓘ	399	1,075	759	786	713	684	714	505	650	1,566
Adjustment ⓘ	51	-489	-9	18	40	108	145	111	158	-509
Changes in Working Capital ⓘ	-26	52	-181	-154	-345	-15	-56	-407	-246	68
Tax Paid ⓘ	-121	-249	-224	-273	-298	-156	-149	-151	-176	-230
Cash Flow From Investing Activity ⓘ	-239	145	-567	-155	86	-344	-465	251	-274	-636
Capex	-90	451	-204	-333	-523	-217	-98	-214	52	377
Net Investments	-155	-320	-359	159	672	-90	-349	461	-267	-823
Others ⓘ	7	15	-3	19	-64	-37	-19	4	-58	-190
Cash Flow From Financing Activityⓘ	-85	-91	-212	-206	-178	-192	-276	-324	-89	-187
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-15	0	-13	-10	-9	-6	0	0	0	0
Interest Paid ⓘ	0	0	0	0	0	0	-1	0	0	0
Dividend Paid ⓘ	-59	-75	-164	-162	-140	-140	-237	-283	-54	-146
Others ⓘ	-10	-16	-34	-34	-29	-46	-37	-41	-35	-42
Net Cash Flow ⓘ	-21	444	-433	17	18	85	-86	-14	24	72

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	17.99	43.85	19.06	17.42	14.27	14.85	13.49	9.08	11.09	23.1
ROCE (%)	25.59	51.4	28.24	26.31	21.69	19.06	18.35	12.48	15.04	30.76
Asset Turnover Ratio	1.83	1.66	1.45	1.36	1.36	1.23	1.09	1.25	1.38	1.24
PAT to CFO Conversion(x)	1.11	0.43	0.68	0.73	0.24	1.16	1.23	0.16	0.79	0.76
Working Capital Days
Receivable Days	41	40	41	44	43	45	52	50	48	52
Inventory Days	51	44	47	53	60	66	70	73	73	72
Payable Days	66	76	96	92	82	77	94	86	73	79

Kansai Nerolac Paints Ltd Stock News

Kansai Nerolac Paints Ltd FAQs

What is the share price of Kansai Nerolac Paint?

Company share prices are keep on changing according to the market conditions. The closing price of Kansai Nerolac Paint on 11-Jun-2024 16:01 is ₹283.2.

What is the market cap of Kansai Nerolac Paint?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Jun-2024 16:01 the market cap of Kansai Nerolac Paint stood at ₹22,982.2.

What is the P/E ratio of Kansai Nerolac Paint?

The latest P/E ratio of Kansai Nerolac Paint as of 11-Jun-2024 16:01 is 19.43.

What is the P/B ratio of Kansai Nerolac Paint?

The latest P/B ratio of Kansai Nerolac Paint as of 11-Jun-2024 16:01 is 4.08.

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

The 52-week high of Kansai Nerolac Paint is ₹355.0 and the 52-week low is ₹252.2.

What is the TTM revenue of Kansai Nerolac Paint?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kansai Nerolac Paint is ₹7,393 ( Cr.) .

About Kansai Nerolac Paints Ltd

Kansai Nerolac Paints was incorporated in 1920 as Gahagan Paints and Varnish Company. Later in 1930, three British companies were merged and Lead Industries Group was established. Today Kansai Nerolac Paints is amongst the leading paint companies in India.

Business area of the company

Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, automotive coatings and performance coatings.

Products offered by the company

Nerolac Decorative Paints
Interior Wall Paints
Exterior Wall Paints
Wood Coatings
Metal Enamel Paints
Paint Ancillary
Adhesive
Hygiene care range

Awards

2011-2012

Certificate of Merit - Lote Zero Accident Frequency Rate.
Ace award- Best run business in Consumer Trade.
Product of the year - Impressions Eco Clean.

2012-13

Environment Award-KNPL Bawal-Silver.
Green Vendor Developer Program.
Best business HR case study.

2013-14

Certificate of Merit - Lote [Zero Accident Frequency Rate.
Vendor Performance award.
Outstanding Contribution to Supply Chain Management.
Best Quality Performance in Proprietary Items.

2014-15

Bawal plant - Gold,Safety.
Best Vendor Award.
Design award for Ambient Media Category (Rang De Patang).
Best Vendor in Safety Award-Bawal.
Certificate of Excellence for Achieving Quality Targets.
Safety Systems Excellence Award.

2015-16

Award for achieving the highest growth in refinish business.
Best Eco Kaizen-Hosur.
Most Innovative Product of the Year Award-Nerolac Impressions HD.

Milestones

1920- Gahagan Paints and Varnish Company was incorporated.
1930- Lead Industries Group was established by merger of three British companies.
1933- Lead Industries Group acquired 100% stake of Gahagan Paints and the company was renamed as Goodlass Wall (India)
1946- Goodlass Wall was converted in private limited company.
1957- Goodlass Wall was renamed as Goodlass Nerolac Paints and went public in the same year.
1976- After acquisition Goodlass Nerolac Paints became part of Tata Forbes Group.
1983- Goodlass Nerolac Paints entered into technical collaboration with Kansai Paint Co. and Nihon Tokushu Toryo Co. of Japan.
1986- Goodlass Nerolac Paints Ltd. turned into a joint venture of the Tata Forbes and the Kansai Paint Co., with the latter acquiring 36% stake in the company.
1999-Kansai Paint Company, Japan acquired the entire stake of Tata Forbes group and thus Goodlass Nerolac Paints became a wholly owned subsidiary of Kansai Paint Company.
2006- Goodlass Nerolac Paints was rechristened to Kansai Nerolac Paints.
2012- Kansai Nerolac decided to enter JV with Nepal Shalimar, to acquire 68% stake in Nepalese paint major.
2015- Kansai Nerolac Paints to enter Sri Lankan market.
2015- Kansai Nerolac decided to set up a manufacturing unit in Gujarat at an estimated cost of Rs 350 crore.
2019- Kansai Nerolac Paints starts commercial production at manufacturing unit in Punjab.
2019- Kansai Nerolac launches 'Shera Para Shera Pujo 2019' campaign.
2020- Kansai Nerolac Paints, Polygel complete acquisition of stake in Nerofix.