Kansai Nerolac Gains From Cyclical Recovery In Q3: Prabhudas Lilladher
Paint color samples molded into car figurines stand on display. (Photographer Luke Macgregor/Bloomberg)

Kansai Nerolac Gains From Cyclical Recovery In Q3: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Kansai Nerolac Paints Ltd. registered strong volume growth led by recovery in metro and tier-I cities along with sustained growth in tier II, III, IV cities and rural towns.

The company gained due to higher gross margins, better product mix and judicious cost control, however we expect margins to soften due to firm raw material prices despite planned price increase across segments.

We remain positive in the long term story for the company led by decorative paints demand and gradual recovery in auto paints and emerging segments like powder coatings (appliances), infra coatings, transport/metros, rebar and Industrial applications.

Click on the attachment to read the full report:

Prabhudas Lilladher Kansai Nerolac Q3FY21 Result Update.pdf

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