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Nerolac Paints Net Profits Increase By 33% : Result Analysis


It seems like the paint industry had a good quarter, after the block buster results of Asian Paints, Nerolac has come out with an amazing 33% increase in net profits and 7.36% increase in revenue.

  • Company has increased its operating margin from 13.76% in Q1FY16 to 16.19% in Q1 current year.
  • Other income, which was a less significant amount in Q1FY16, has multiplied by 3.68 times to current level of 21 Crs.
  • The company is completely debt free.
  • For the reported quarter the company has paid 33.63% tax against 31% for the same quarter last year.

Kansai Nerolac Q1FY17 Results
Kansai Nerolac moved 6% in two consecutive trading days, previous day of results it moved by 2.17% due to speculation of good results with the likes of Asian Paints. On the results day the stock moved up by  3.74% at closed at Rs 341.10 due to more than expected results. ICICI Securities was expecting net profit of Rs 112.40 crore from Kansai Nerolac Paints.
Kansai Nerolac Q1FY17 Share Price Movement
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Disclosure: The authors at Capital Mind have positions in the market and some of them may support or contradict the material given above, or may involve a direction derived from independent analysis.


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