Kansai Nerolac Logs Strong Q3 Performance On All Fronts: ICICI Direct 
A day labourer holds a paint roller in Noida, Uttar Pradesh, on Jan. 20, 2020. (Photographer: Prashanth Vishwanathan/Bloomberg)

Kansai Nerolac Logs Strong Q3 Performance On All Fronts: ICICI Direct 

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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.

ICICI Direct Report

Kansai Nerolac Paints Ltd.’s Q3 FY21 performance was ahead of our estimate with overall volume growth coming in at approximately 20% YoY (versus our estimate 15%).

Though on a low base, industrial paint segment volume growth at ~19% (our estimate) was led by strong demand revival in automotive industry.

On the decorative front, volume growth at ~21% YoY was supported by strong festive demand from rural and semi urban regions.

Also, opening up of metro and tier-I cities aided volume growth during the period.

Click on the attachment to read the full report:

ICICI Direct Kansai Nerolac Q3FY21 Result Update.pdf

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