Kansai Nerolac Q4 Results Review- Likely Market Share Gains In Economy Segments, Ancillaries: ICICI Securities

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Kansai Nerolac Paints Ltd. reported weaker-than-expected Q4 FY24. Picking the positives -likely market share gains economy segment and ancillaries (10% volume growth in H2 FY24 YoY),benefits of its investments in distribution, new products and brand building over past 18-24 months visible now,industrial, automotive paints (45% of net sales) is likely to perform well (no material change in competitive positioning), automotive production and capex upcycle augurs well. Kansai Nerolac is planning to increase capacity of Industrial paints by 850 million tonnes/month at Sayakha and Bawal plants at capex of Rs 495 million. It is also in process to unlock value in its two excess land parcels at Mumbai (Lower Parel and Thane) for total consideration of Rs 14 billion. Additional resources provide ammunition to compete effectively. Add. We reckon (comfortable) competitive equilibrium in Paints is likely broken. Retain underweight on large cap paints. Contrarian investors may consider owning Akzo Nobel/Indigo Paints/Kansai Nerolac..Click on the attachment to read the full report:.Stocks To Watch: Britannia Industries, Tata Technologies, Avenue Supermarts, Godrej Consumer Products.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Kansai Nerolac Q4 Results Review- Likely Market Share Gains In Economy Segments, Ancillaries: ICICI Securities

Industrial coatings have continued to report healthy performance but slightly weaker growth compared to previous quarter

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Kansai Nerolac Q4 Results Review- Likely Market Share Gains In Economy Segments, Ancillaries: ICICI Securities

Industrial coatings have continued to report healthy performance but slightly weaker growth compared to previous quarter

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