Kansai Nerolac Paints Ltd. (NSE:KANSAINER) is one of the leading paint companies in India, offering a wide range of decorative and industrial paints. The company was established in 1920 and is headquartered in Mumbai, India. It is a subsidiary of Kansai Paint Co. Ltd., a Japanese paint manufacturing company. Kansai Nerolac Paints offers a diverse range of products such as emulsions, enamels, distempers, and wood coatings for home, commercial, and industrial purposes. The company has a strong presence in India and exports to over 20 countries worldwide.
Kansai Nerolac Paints Ltd., a leading Indian paint company, released its Q3FY23 results, reporting a net revenue from operations of Rs 1,717.1 crore, a growth of 1.4% over the corresponding quarter of the previous year. However, the company’s EBITDA was at Rs 188.5 crore, a de-growth of 10.2% over Q3FY22, and PAT was at Rs 112.3 crore, a de-growth of 15.2% over Q3FY22. The previous year’s Q3 had exceptional income of Rs 44.8 crore in other operating income, which was not included in Q3FY23’s results. Excluding this exceptional income, the net revenue grew by 4.1%, EBITDA by 14.1%, and PAT by 13.5%.
In the nine months period of FY23, the company earned net revenue from operations of Rs 5,475.9 crore, a growth of 20.7% over the corresponding period of the previous year. The company’s EBITDA was at Rs 641.4 crore, a growth of 13.7% over the same period of 2021-22. The PAT for the nine months period was Rs 392.4 crore, a growth of 12.2% over the same period of 2021-22.
Overall, the company’s net revenue grew positively in Q3FY23 and the nine months period of FY23 compared to the corresponding periods of the previous year. However, the company’s EBITDA and PAT saw a de-growth in Q3FY23 compared to Q3FY22, which could be attributed to the exceptional income included in Q3FY22. Excluding the exceptional income, the company’s performance saw growth in Q3FY23. The company’s EBITDA and PAT also saw a positive growth in the nine months period of FY23 compared to the same period of the previous year.