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05-Aug-2025

Kansai Nerolac Paints

Expects EBITDA margin to be 13-14% in FY26


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Kansai Nerolac Paints held a conference call on 05 August 2025 to discuss the results for the quarter ended June 25 and way forward. Mr. Pravin Chaudhari, Managing Director; Mr. Yash Ahuja, Chief Financial Officer Designate; and Mr. Jason Gonsalves, Director, Corporate Planning, IT and Materials of the company addressed the call.

Highlights of the Concall

  • Decorative segment volume remained flat, while industrial segment saw high single-digit growth. Outperformance was seen in auto coatings despite sluggish demand.

  • The company has expanded network with mid-single digit growth in direct dealers and high double-digit growth in sub-dealers.

  • The company has 50-60% market share in the auto OEM segment and has gained additional share in 1QFY26.

  • Geopolitical risks are affecting the business as 30–35% of material is imported and is at risk due to US tariffs. Additionally, anti-dumping duties on chinese imports of titanium dioxide...



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