ICICI Securities: Kansai Nerolac’s Strong Recovery In Decorative, Automotive, Industrial Segments To Follow In H2
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ICICI Securities Report
Three highlights of Kansai Nerolac Paints Ltd.’s Q2 FY21 results:
- In-spite of lower revenue salience of ancillary products, decoratives business reported 15% volume growth.
- The company has continued its investments even in these tough times and has expanded dealer count by 4-5% and has also launched an anti-viral paint.
- There is month-on-month recovery visible in automotive, industrial as well as projects business.
Similar to the peers, the company has reported higher growth in tier-two and three cities.
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