Alphagraph | Kansai Nerolac Paints Limited (NSE:KANSAINER): Q3FY23 Results Out; Net Profit fell 13% YoY

Kansai Nerolac Paints Limited, is a subsidiary of Kansai Paint of Japan and is the largest industrial paint and third largest decorative paint company in India. The company is headquartered in Mumbai and is involved in the industrial, automotive, and powder coating businesses. Kansai Nerolac Paints Limited specializes in developing and supplying paint systems used in various industries such as electrical components, cycle, material handling equipment, bus bodies, containers, and furniture.

Kansai Nerolac Paints Ltd has announced its Q3FY23 results, reporting a net revenue of Rs 1,717.1 crore, which is a growth of 1.4% compared to the same quarter of the previous year. The company’s EBIDTA was Rs 188.5 crore, which is a de-growth of 10.2% over Q3FY22, and its PAT was Rs 112.3 crore, a de-growth of 15.2 % over Q3FY22. However, if we exclude the exceptional income of Rs 44.8 crore from the previous year’s Q3, the net revenue is up by 4.1%, EBITDA is up by 14.1%, and PAT is up by 13.5%. For the nine months period, the company earned a net revenue of Rs 5,475.9 crore, which is a growth of 20.7% over the same period of the previous year, with EBITDA at Rs 641.4 crore, a growth of 13.7%, and PAT at Rs 392.4 crore, a growth of 12.2%.