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Kansai Nerolac Paints explore options to monetize surplus assets at Chennai

Kansai Nerolac Paints Ltd. | Paints | Chemicals & Fertilizers | BSE: 500165 | NSE: KANSAINER

26 Jul 2013 Evaluate

Kansai Nerolac Paints has received an in-principle approval to explore various options for monetization of surplus assets of the company located at Chennai. The board of director at its meeting held on July 25, 2013, approved the closure of the company’s factory located at Perungudi in state of Chennai.

Being an old unit, the plant and machinery of this unit had become outdated and unproductive. Due to high wages and low productivity, the cost of production had gone up at this unit and the unit had become financially non-viable. The output from the unit was only 7% of the total production at the company level last year. The expansion of the unit was also not feasible.

Besides, the company required to re-align its manufacturing operations in order to be cost effective and to meet competitive edge. It became imperative to restructure/reorganize the manufacturing operations to contain the increasing manufacturing/ operational cost. Also, over the years, many residential colonies have come up in the vicinity of the factory premises, leading to pollution and environmental issues.

Further, all the workmen of the company have opted for Voluntary Retirement Scheme (VRS) and accepted VRS compensation and their legal dues and have been relieved from the services of the company. All the manufacturing activities at Perungudi factory have been stopped and as such, the assets have become surplus to the company’s requirements.

Kansai Nerolac Paints is engaged in the industrial, automotive and powder coating business. Kansai Nerolac is the second largest paint manufacturer in India and has a presence in decorative and industrial paints. The company’s brands include Impressions, Beauty, Excel and Surakhsa.

Kansai Nerolac Paint Share Price

203.05 2.35 (1.17%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Asian Paints	2463.40
Berger Paints India	468.80
Kansai Nerolac Paint	203.05
JSW Dulux	2930.65
Indigo Paints	839.55
View more..

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Kansai Nerolac Paints explore options to monetize surplus assets at Chennai

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