KANSAINERKansai Nerolac Paints Ltd.
Kansai Nerolac Paints Q2 FY27 Results: Consolidated Net Profit ₹144 Crore on Total Income of ₹2,352 Crore
- Earnings
- paints
Reviewed byKeshav SehgalBlacklitt Research
Kansai Nerolac Paints (NSE: KANSAINER) reported consolidated total income of ₹2,352.48 crore and net profit of ₹143.99 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income was ₹2,304.34 crore and standalone net profit ₹148.64 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹2,352.48 crore, up 18.7% YoY and down 3.1% QoQ
- Net profit and EPS: ₹143.99 crore, up 8.0% YoY; basic EPS ₹1.81
- Other income: ₹35.10 crore, up 32.8% YoY and 1.5% of total income
- Finance costs: ₹7.74 crore, up 0.4% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,304.34 crore, up 19.0% YoY and down 3.5% QoQ
- Net profit and EPS: ₹148.64 crore, up 8.8% YoY; basic EPS ₹1.84
- Other income: ₹35.57 crore, up 24.2% YoY and 1.5% of total income
- Dividend paid: ₹202.18 crore in the six months ended 30 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,352.48 | 1,982.61 | +18.7% | 2,428.53 | -3.1% | |
| Revenue from operations | 2,317.38 | 1,954.18 | +18.6% | 2,373.59 | -2.4% |
| Other income | 35.10 | 26.43 | +32.8% | 54.94 | -36.1% |
| 143.99 | 133.31 | +8.0% | 228.41 | -37.0% | |
| Profit before tax | 188.28 | 181.67 | +3.6% | 312.46 | -39.7% |
| Finance costs | 7.74 | 7.71 | +0.4% | 8.02 | -3.5% |
| Depreciation | 63.17 | 54.31 | +16.3% | 62.83 | +0.5% |
| Tax expense | 44.29 | 48.36 | -8.4% | 84.05 | -47.3% |
| Net profit margin | 6.12% | 6.72% | -0.60 pp | 9.41% | -3.28 pp |
| EPS, basic (₹) | 1.81 | 1.67 | +8.4% | 2.86 | -36.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 18.6% year on year to ₹2,317.38 crore, but net profit rose only 8.0%. Profit before tax grew 3.6%, and the tax expense fell 8.4% to ₹44.29 crore, so the tax charge is 23.5% of profit before tax against 26.6% a year earlier, computed from the table figures.
Other income of ₹35.10 crore equals 18.6% of profit before tax of ₹188.28 crore. Depreciation rose 16.3% to ₹63.17 crore, faster than revenue. Finance costs of ₹7.74 crore are a small share of income, 0.3% of total income.
The consolidated statement includes KNP Japan Private Limited and Kansai Nerolac Paints (Bangladesh) Limited, and Kansai Paints Lanka (Private) Limited up to 16 Dec 2025. Net profit attributable to owners is ₹146.36 crore, against ₹143.99 crore for the period, with non-controlling interests taking a loss of ₹2.37 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,304.34 | 1,936.11 | +19.0% | 2,388.01 | -3.5% | |
| Revenue from operations | 2,268.77 | 1,907.46 | +18.9% | 2,332.83 | -2.7% |
| Other income | 35.57 | 28.65 | +24.2% | 55.18 | -35.5% |
| 148.64 | 136.56 | +8.8% | 235.02 | -36.8% | |
| Profit before tax | 191.98 | 184.01 | +4.3% | 318.43 | -39.7% |
| Finance costs | 4.88 | 4.44 | +9.9% | 4.96 | -1.6% |
| Depreciation | 61.94 | 52.95 | +17.0% | 61.67 | +0.4% |
| Tax expense | 43.34 | 47.45 | -8.7% | 83.41 | -48.0% |
| Net profit margin | 6.45% | 7.05% | -0.60 pp | 9.84% | -3.39 pp |
| EPS, basic (₹) | 1.84 | 1.69 | +8.9% | 2.91 | -36.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone revenue from operations rose 18.9% to ₹2,268.77 crore, while profit before tax rose 4.3% to ₹191.98 crore.
Consolidated net profit of ₹143.99 crore is ₹4.65 crore lower than standalone. The press release gives profit before tax as ₹191.88 crore, while the standalone statement shows ₹191.98 crore; the company's reason for the difference is not stated.
Revenue figures for the quarter ended 30 Jun 2026 and 30 Sep 2025 were restated for the Nerofix amalgamation. Before restatement, Q1 FY27 standalone revenue was ₹2,299.52 crore and is now ₹2,332.83 crore.
Kansai Nerolac Paints reports one segment, Paints, with sales substantially in the domestic market. The Managing Director, Pravin Chaudhari, says demand conditions are expected to remain supportive across Decorative and Industrial businesses, aided by the festive season, while the company remains watchful of geopolitical uncertainty, commodity prices and currency movements.
The company had a market value of ₹15,796 crore on 04 Nov 2026. Its latest reported quarter, Q1 FY27 consolidated, showed total income of ₹2,428.53 crore and net profit of ₹228.41 crore.
Inference
The filing records a Board-approved amalgamation of Nerofix Private Limited into the company, with the NCLT order dated 24 Sep 2026 and a rectification order dated 14 Oct 2026. The certified copies of these orders had not been received at the filing date.
The filing does not say when the certified NCLT copies will arrive or how the amalgamation affects the company's share count or net worth.
Filed with BSE on . Reference: Original filing (PDF)
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