Kansai Nerolac Paints Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials and compliance.
CIN L24202MH1920PLC000825 Incorporated 02 September 1920 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - NSE: KANSAINER · BSE: 500165 Public Limited Company manufacturing
Data last updated
Revenue · FY 2026
₹8,051.91 Cr
▲ 2.93% YoY
EBITDA · FY 2026
₹1,120.54 Cr
▲ 3.61% YoY
Net profit · FY 2026
₹575.84 Cr
▼ 48.09% YoY
Authorised capital
₹85 Cr
Registered with MCA
Paid-up capital
₹80.85 Cr
Issued & subscribed
Open charges
None
Satisfied ₹189.34 Cr
Company age
106 yrs
Est. 1920
Employees · EPFO
3,794
Latest available

About Kansai Nerolac Paints Limited

Data last updated: 22 December 2025

Kansai Nerolac Paints Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Kansai Paint Co., Ltd., Japan. It specialises in paint and coatings, a part of the broader manufacturing sector. Incorporated on 02 September 1920, the company has been in operation for over 106 years.

Registered with ROC Mumbai under CIN L24202MH1920PLC000825. Listed on BSE: 500165 and NSE: KANSAINER.

Capital: an authorised share capital of ₹85 Cr and a paid-up capital of ₹80.85 Cr. Formerly known as The Gahagan Paint & Varnish Company Limited and Goodlass Nerolac Paints Limited. It is led by directors including Takashi Tomioka and Uday Shirish Bhansali.

Last AGM: 30 June 2025. Financial statements filed for year ended 31 March 2025. Office: Mumbai, Maharashtra.

As per the financials filed for FY 2024, the company reported a revenue of ₹7,486.41 Cr, a decline of 1% compared to the previous year.

The company has a workforce of approximately 3,794 employees as per the latest available data. It operates as a subsidiary of Kansai Paint Co., Ltd., Japan. Its group structure includes 1 subsidiary.

The company is associated with 2 brands - Rak Paints, Kansai Nerolac. As per MCA filings, the company has satisfied charges of ₹189.34 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website nerolac.com.

Company Details of Kansai Nerolac Paints Limited
CIN L24202MH1920PLC000825
Registration Number 000825
Incorporation Date 02 September 1920
ROC Mumbai
Listing Status Listed (BSE: 500165, NSE: KANSAINER)
Company Status Active
Date of Last AGM 30 June 2025
Date of Balance Sheet 31 March 2025
Parent Company Kansai Paint Co., Ltd., Japan
Compliance Status Active Compliant
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
  • Social Media
  • Registered Address
    28Th Floor A – Wing Marathon Futurex, N. M. Joshi Marg Lower Parel, Mumbai, Maharashtra, India – 400013
  • Industry
    Manufacturing, Paint & Coatings
Company report
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Financials, compliance, directors, charges, ownership and filings for Kansai Nerolac Paints Limited in one report.

10-year financials Directors & ownership Charges & compliance

Name History of Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited has undergone 2 name changes throughout its history. The company was previously known as The Gahagan Paint & Varnish Company Limited, and Goodlass Nerolac Paints Limited. The current legal name is Kansai Nerolac Paints Limited, reflecting the company's evolution and rebranding over time.

Company Name Status
Kansai Nerolac Paints Limited Current
The Gahagan Paint & Varnish Company Limited Previous
Goodlass Nerolac Paints Limited Previous

Associated Brands with Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited operates two associated brands: RAK Paints and Kansai Nerolac. These brands represent Kansai Nerolac Paints Limited's diversified market presence and brand portfolio.

Brand Description Website
Solvent-based and water-based paints are provided by RAK Paints. rakpaintsbd.com
Industrial and decorative paints are manufactured by Kansai Nerolac. nerolac.com

Competitors & Alternatives of Kansai Nerolac Paints Limited

Brands and companies operating in the same space as Kansai Nerolac Paints Limited include Asian Paints, Shalimar Paints, Mapei and 6 more.

Competitor Description Location Founded
Asian Paints Asian Paints Industrial and decorative paints are manufactured along with related solutions. Mumbai, India, India 1942
Shalimar Paints Shalimar Paints Protective coatings are manufactured for industrial applications in India. Delhi, India, India 1902
Mapei Mapei Chemical products including adhesives and sealants for construction are manufactured. Milan, Italy, Italy 1937
Bostik Bostik Industrial adhesives are manufactured by Bostik for diverse applications. Paris, France, France 1889
Grauer & Weil India Grauer & Weil India Electroplating chemicals, paints, and equipment are manufactured by the company. Mumbai, India, India 1957
Wanhua Chemical Group Wanhua Chemical Group Chemical products are manufactured and distributed by Wanhua Chemical Group. Yantai, China, China 1998
Pidilite Pidilite Adhesives and sealants are manufactured by Pidilite in India. Mumbai, India, India 1959
Fosroc Fosroc Adhesives, sealants, and chemicals for construction applications are manufactured. Dubai, United Arab Emirates, United Arab Emirates 1972
Cromar Building Products Cromar Building Products Construction chemicals are supplied for building and roofing applications. Goole, United Kingdom, United Kingdom 1997

Business Activity of Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited is engaged in the principal business activity of manufacturing, with detailed activities including other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C13 Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities *********

Auditor Details of Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited is audited by S R B C & CO LLP (ICAI peer reviewed, certificate valid till 2029-02-28) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.

Name Financial year Audit opinion
S R B C & CO LLP (ICAI peer reviewed, certificate valid till 2029-02-28) FY 2026 Declaration of unmodified opinion

Board of Directors of Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited is currently managed by 13 directors, with 28 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Takashi Tomioka Director 07 May 2020 6 Years 2 Months Current
Uday Shirish Bhansali Director 06 Nov 2024 1 Years 8 Months Current
Yash Ahuja Cfo 01 Aug 2025 0 Years 11 Months Current
Bhaskar Bhat Director 10 Aug 2022 3 Years 10 Months Current
Gomatam Thirumalai Govindarajan Nodal Officer 03 Sep 2019 6 Years 10 Months Current
Pravin Digambar Chaudhari Managing Director 26 Jun 2023 3 Years 0 Months Current
Showing 6 of 13 current directors. View all directors

Financials of Kansai Nerolac Paints Limited FY 2026 filings available

Kansai Nerolac Paints Limited reported revenue of ₹8,051.91 Cr (up 2.93% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹8,051.91 Cr ▲ 2.93%
Profit · FY 2026
₹575.84 Cr ▼ 48.09%
EBITDA · FY 2026
₹1,120.54 Cr ▲ 3.61%
Revenue₹ Cr · Consolidated05,00010,000FY 2020: ₹5,280 Cr5,280FY 2020FY 2021: ₹5,074 Cr · -3.9% YoY5,074-3.9%FY 2021FY 2022: ₹6,369 Cr · +25.5% YoY6,369+25.5%FY 2022FY 2023: ₹7,543 Cr · +18.4% YoY7,543+18.4%FY 2023FY 2024: ₹7,801 Cr · +3.4% YoY7,801+3.4%FY 2024FY 2025: ₹7,823 Cr · +0.3% YoY7,823+0.3%FY 2025FY 2026: ₹8,052 Cr · +2.9% YoY8,052+2.9%FY 2026
Net Profit₹ Cr · Consolidated05001,0001,500FY 2020: ₹516 Cr516FY 2020FY 2021: ₹526 Cr · +1.9% YoY526+1.9%FY 2021FY 2022: ₹343 Cr · -34.7% YoY343-34.7%FY 2022FY 2023: ₹468 Cr · +36.5% YoY468+36.5%FY 2023FY 2024: ₹1,176 Cr · +151% YoY1,176+151%FY 2024FY 2025: ₹1,109 Cr · -5.7% YoY1,109-5.7%FY 2025FY 2026: ₹576 Cr · -48.1% YoY576-48.1%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year01,0002,0003,000Q1'25: ₹2,133 Cr · -1.1% YoY2,133-1.1%Q1'25Q2'25: ₹1,951 Cr · -0.3% YoY1,951-0.3%Q2'25Q3'25: ₹1,922 Cr · +0.2% YoY1,922+0.2%Q3'25Q4'25: ₹1,817 Cr · +2.7% YoY1,817+2.7%Q4'25Q1'26: ₹2,162 Cr · +1.4% YoY2,162+1.4%Q1'26Q2'26: ₹1,954 Cr · +0.1% YoY1,954+0.1%Q2'26Q3'26: ₹1,982 Cr · +3.1% YoY1,982+3.1%Q3'26Q4'26: ₹1,954 Cr · +7.5% YoY1,954+7.5%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹8,051.91 Cr ₹7,822.97 Cr ₹7,801.44 Cr ₹7,542.73 Cr ₹6,369.35 Cr ₹5,074.25 Cr ₹5,279.97 Cr
Other Income ₹145.94 Cr ₹139.15 Cr ₹91.88 Cr ₹25.98 Cr ₹25.41 Cr ₹38.21 Cr ₹25.53 Cr
Total Income ₹8,197.85 Cr ₹7,962.12 Cr ₹7,893.32 Cr ₹7,568.71 Cr ₹6,394.76 Cr ₹5,112.46 Cr ₹5,305.5 Cr
Cost of Materials Consumed ₹4,581.64 Cr ₹4,572.15 Cr ₹4,556.34 Cr ₹4,888.68 Cr ₹4,318.57 Cr ₹2,935.79 Cr ₹2,921.96 Cr
Purchases of Stock-in-Trade ₹508.24 Cr ₹488.37 Cr ₹486.99 Cr ₹470.36 Cr ₹401.54 Cr ₹317.21 Cr ₹287.73 Cr
Changes in Inventories ₹106.72 Cr ₹8.8 Cr ₹78 Lakh -₹94.76 Cr -₹292.81 Cr -₹106.47 Cr ₹48.92 Cr
Employee Benefit Expense ₹542.14 Cr ₹501.89 Cr ₹448.62 Cr ₹377.05 Cr ₹355.58 Cr ₹304.68 Cr ₹310.37 Cr
Finance Costs ₹32.29 Cr ₹31.25 Cr ₹29.21 Cr ₹29 Cr ₹28.59 Cr ₹23.74 Cr ₹20.91 Cr
Depreciation & Amortisation ₹228.12 Cr ₹201.7 Cr ₹190.46 Cr ₹180.08 Cr ₹169.77 Cr ₹165.3 Cr ₹142.12 Cr
Other Expenses ₹1,338.57 Cr ₹1,309.44 Cr ₹1,280.96 Cr ₹1,083.41 Cr ₹937.11 Cr ₹759.76 Cr ₹906.53 Cr
Total Expenses ₹7,337.72 Cr ₹7,113.6 Cr ₹6,993.36 Cr ₹6,933.82 Cr ₹5,918.35 Cr ₹4,400.01 Cr ₹4,638.54 Cr
Profit Before Exceptional Items & Tax ₹860.13 Cr ₹848.52 Cr ₹899.96 Cr ₹634.89 Cr ₹476.41 Cr ₹712.45 Cr ₹666.96 Cr
Exceptional Items -₹63.15 Cr ₹629.51 Cr ₹661.25 Cr ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹796.98 Cr ₹1,478.03 Cr ₹1,561.21 Cr ₹634.89 Cr ₹476.41 Cr ₹712.45 Cr ₹666.96 Cr
Total Tax Expense ₹221.14 Cr ₹368.7 Cr ₹385.35 Cr ₹166.42 Cr ₹133.26 Cr ₹186.73 Cr ₹151.18 Cr
Net Profit ₹575.84 Cr ₹1,109.33 Cr ₹1,175.86 Cr ₹468.47 Cr ₹343.15 Cr ₹525.72 Cr ₹515.78 Cr
  attributable to Owners ₹589.47 Cr ₹1,142.95 Cr ₹1,185.44 Cr ₹473.58 Cr ₹358.86 Cr ₹529.74 Cr ₹521.01 Cr
  attributable to NCI -₹13.63 Cr -₹33.62 Cr -₹9.58 Cr -₹5.11 Cr -₹15.71 Cr -₹4.02 Cr -₹5.23 Cr
Other Comprehensive Income -₹92 Lakh ₹2.48 Cr -₹3.82 Cr ₹10.15 Cr ₹3.21 Cr -₹9 Lakh -₹5.23 Cr
Total Comprehensive Income ₹574.92 Cr ₹1,111.81 Cr ₹1,172.04 Cr ₹478.62 Cr ₹346.36 Cr ₹525.63 Cr ₹510.55 Cr
EBITDA (computed) ₹1,120.54 Cr ₹1,081.47 Cr ₹1,119.63 Cr ₹843.97 Cr ₹674.77 Cr ₹901.49 Cr ₹829.99 Cr
Basic EPS ₹7.29 ₹14.14 ₹14.66 ₹8.79 ₹6.66 ₹9.83 ₹9.67
Diluted EPS ₹7.28 ₹14.12 ₹14.65 ₹8.78 ₹6.66 ₹9.83 ₹9.67
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹8,711.11 Cr ₹8,217.03 Cr ₹7,409.72 Cr ₹6,306.36 Cr
Non-current Assets ₹2,937.44 Cr ₹2,864.73 Cr ₹2,473.03 Cr ₹2,329.41 Cr
Current Assets ₹5,773.67 Cr ₹5,352.3 Cr ₹4,936.64 Cr ₹3,976.9 Cr
Property, Plant & Equipment ₹2,085.68 Cr ₹2,007.06 Cr ₹1,940.59 Cr ₹1,888.24 Cr
Inventories ₹1,530.17 Cr ₹1,665.07 Cr ₹1,687.46 Cr ₹1,729.13 Cr
Trade Receivables ₹1,467.36 Cr ₹1,356.7 Cr ₹1,334.88 Cr ₹1,237.91 Cr
Cash & Equivalents ₹196.79 Cr ₹94 Cr ₹172.23 Cr ₹104.61 Cr
Equity (Net Worth) ₹6,688.85 Cr ₹6,404.46 Cr ₹5,598.6 Cr ₹4,560.41 Cr
Equity Share Capital ₹80.87 Cr ₹80.84 Cr ₹80.84 Cr ₹53.89 Cr
Borrowings (Non-current) ₹8.68 Cr ₹30 Cr ₹15 Cr ₹4.69 Cr
Borrowings (Current) ₹74 Cr ₹87.82 Cr ₹105.7 Cr ₹155.3 Cr
Total Debt (computed) ₹82.68 Cr ₹117.82 Cr ₹120.7 Cr ₹159.99 Cr
Current Liabilities ₹1,657.15 Cr ₹1,450.6 Cr ₹1,520.56 Cr ₹1,506.65 Cr
Total Liabilities ₹2,022.26 Cr ₹1,812.57 Cr ₹1,811.12 Cr ₹1,745.95 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹894.37 Cr ₹672.36 Cr ₹903.01 Cr ₹408.25 Cr ₹24.77 Cr
Investing Cash Flow -₹382.65 Cr -₹378.62 Cr -₹589.76 Cr -₹226.91 Cr ₹249.54 Cr
Financing Cash Flow -₹403.3 Cr -₹366.12 Cr -₹248.84 Cr -₹132.6 Cr -₹309.31 Cr
Capital Expenditure ₹213.12 Cr ₹326.3 Cr ₹237 Cr ₹123.17 Cr ₹219.01 Cr
Free Cash Flow (computed) ₹681.25 Cr ₹346.06 Cr ₹666.01 Cr ₹285.08 Cr -₹194.24 Cr
Dividends Paid ₹303.18 Cr ₹303.14 Cr ₹145.51 Cr ₹55.18 Cr ₹284.04 Cr
Net Change in Cash ₹108.42 Cr -₹72.38 Cr ₹65.39 Cr ₹48.74 Cr -₹35 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹1,953.71 Cr ₹1,981.99 Cr ₹1,954.18 Cr ₹2,162.03 Cr ₹1,816.65 Cr ₹1,921.89 Cr ₹1,951.37 Cr ₹2,133.06 Cr ₹1,769.39 Cr ₹1,918.71 Cr ₹1,956.54 Cr ₹2,156.8 Cr
Other Income ₹29.69 Cr ₹35.21 Cr ₹28.43 Cr ₹52.61 Cr ₹37.09 Cr ₹41.53 Cr ₹26.7 Cr ₹33.83 Cr ₹32.53 Cr ₹20.13 Cr ₹22.02 Cr ₹17.2 Cr
Total Income ₹1,983.4 Cr ₹2,017.2 Cr ₹1,982.61 Cr ₹2,214.64 Cr ₹1,853.74 Cr ₹1,963.42 Cr ₹1,978.07 Cr ₹2,166.89 Cr ₹1,801.92 Cr ₹1,938.84 Cr ₹1,978.56 Cr ₹2,174 Cr
Cost of Materials Consumed ₹1,192.7 Cr ₹1,081.92 Cr ₹1,131.02 Cr ₹1,176 Cr ₹1,099.47 Cr ₹1,099.86 Cr ₹1,228.84 Cr ₹1,143.98 Cr ₹1,104.03 Cr ₹1,116.11 Cr ₹1,204.38 Cr ₹1,131.82 Cr
Purchases of Stock-in-Trade ₹125.96 Cr ₹120.09 Cr ₹125.46 Cr ₹136.73 Cr ₹117.46 Cr ₹138.93 Cr ₹109.67 Cr ₹122.31 Cr ₹124.19 Cr ₹130.13 Cr ₹108.15 Cr ₹124.52 Cr
Changes in Inventories -₹44.73 Cr ₹72.54 Cr ₹9.57 Cr ₹69.34 Cr -₹28.38 Cr ₹5.83 Cr -₹50.07 Cr ₹81.42 Cr -₹66.76 Cr -₹19.68 Cr -₹52.51 Cr ₹139.73 Cr
Employee Benefit Expense ₹136.43 Cr ₹134.52 Cr ₹137.42 Cr ₹133.77 Cr ₹131.45 Cr ₹121.34 Cr ₹124.57 Cr ₹124.53 Cr ₹115.78 Cr ₹117.14 Cr ₹108.51 Cr ₹107.19 Cr
Finance Costs ₹8.42 Cr ₹8.8 Cr ₹7.71 Cr ₹7.36 Cr ₹7.69 Cr ₹9.07 Cr ₹7.28 Cr ₹7.21 Cr ₹7.02 Cr ₹7.47 Cr ₹7.6 Cr ₹7.12 Cr
Depreciation & Amortisation ₹60.9 Cr ₹59.97 Cr ₹54.31 Cr ₹52.94 Cr ₹51.6 Cr ₹53.4 Cr ₹48.56 Cr ₹48.14 Cr ₹47.96 Cr ₹48.43 Cr ₹47.39 Cr ₹46.68 Cr
Other Expenses ₹326.85 Cr ₹333.23 Cr ₹335.45 Cr ₹343.04 Cr ₹330.93 Cr ₹320.85 Cr ₹326.45 Cr ₹331.21 Cr ₹313.14 Cr ₹331.01 Cr ₹314.77 Cr ₹322.04 Cr
Total Expenses ₹1,806.53 Cr ₹1,811.07 Cr ₹1,800.94 Cr ₹1,919.18 Cr ₹1,710.22 Cr ₹1,749.28 Cr ₹1,795.3 Cr ₹1,858.8 Cr ₹1,645.36 Cr ₹1,730.61 Cr ₹1,738.29 Cr ₹1,879.1 Cr
Profit Before Exceptional Items & Tax ₹176.87 Cr ₹206.13 Cr ₹181.67 Cr ₹295.46 Cr ₹143.52 Cr ₹214.14 Cr ₹182.77 Cr ₹308.09 Cr ₹156.56 Cr ₹208.23 Cr ₹240.27 Cr ₹294.9 Cr
Exceptional Items -₹18.43 Cr -₹44.72 Cr ₹0 ₹0 ₹0 ₹629.51 Cr ₹0 ₹0 ₹0 ₹0 ₹0 ₹661.25 Cr
Profit Before Tax ₹158.44 Cr ₹161.41 Cr ₹181.67 Cr ₹295.46 Cr ₹143.52 Cr ₹843.65 Cr ₹182.77 Cr ₹308.09 Cr ₹156.56 Cr ₹208.23 Cr ₹240.27 Cr ₹956.15 Cr
Total Tax Expense ₹48.55 Cr ₹44.36 Cr ₹48.36 Cr ₹79.87 Cr ₹41.09 Cr ₹181.38 Cr ₹63.01 Cr ₹83.22 Cr ₹42.27 Cr ₹56.14 Cr ₹64.79 Cr ₹222.15 Cr
Net Profit ₹109.89 Cr ₹117.05 Cr ₹133.31 Cr ₹215.59 Cr ₹102.43 Cr ₹662.27 Cr ₹119.76 Cr ₹224.87 Cr ₹114.29 Cr ₹152.09 Cr ₹175.48 Cr ₹734 Cr
  attributable to Owners ₹112.27 Cr ₹121.36 Cr ₹134.93 Cr ₹220.91 Cr ₹108.46 Cr ₹680.87 Cr ₹122.79 Cr ₹230.83 Cr ₹116.03 Cr ₹154.26 Cr ₹177.15 Cr ₹738 Cr
  attributable to NCI -₹2.38 Cr -₹4.31 Cr -₹1.62 Cr -₹5.32 Cr -₹6.03 Cr -₹18.6 Cr -₹3.03 Cr -₹5.96 Cr -₹1.74 Cr -₹2.17 Cr -₹1.67 Cr -₹4 Cr
Other Comprehensive Income -₹1.55 Cr ₹5.67 Cr -₹5.05 Cr ₹1 Lakh ₹42 Lakh -₹2.77 Cr ₹34 Lakh ₹4.49 Cr -₹4.92 Cr -₹53 Lakh ₹3 Lakh ₹1.6 Cr
Total Comprehensive Income ₹108.34 Cr ₹122.72 Cr ₹128.26 Cr ₹215.6 Cr ₹102.85 Cr ₹659.5 Cr ₹120.1 Cr ₹229.36 Cr ₹109.37 Cr ₹151.56 Cr ₹175.51 Cr ₹735.6 Cr
EBITDA (computed) ₹246.19 Cr ₹274.9 Cr ₹243.69 Cr ₹355.76 Cr ₹202.81 Cr ₹276.61 Cr ₹238.61 Cr ₹363.44 Cr ₹211.54 Cr ₹264.13 Cr ₹295.26 Cr ₹348.7 Cr
Basic EPS ₹1.39 ₹1.50 ₹1.67 ₹2.73 ₹1.34 ₹8.42 ₹1.52 ₹2.86 ₹1.44 ₹1.91 ₹2.19 ₹9.13
Diluted EPS ₹1.39 ₹1.50 ₹1.67 ₹2.73 ₹1.34 ₹8.41 ₹1.52 ₹2.85 ₹1.43 ₹1.91 ₹2.19 ₹9.12
Latest 12 quarters shown of 25 on record.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹7,739.23 Cr ₹7,496.71 Cr ₹7,393.3 Cr ₹7,081.02 Cr ₹5,948.9 Cr ₹4,690 Cr ₹4,943.17 Cr
Other Income ₹152.46 Cr ₹142.06 Cr ₹93.11 Cr ₹30.83 Cr ₹32.86 Cr ₹38.71 Cr ₹26.86 Cr
Total Income ₹7,891.69 Cr ₹7,638.77 Cr ₹7,486.41 Cr ₹7,111.85 Cr ₹5,981.76 Cr ₹4,728.71 Cr ₹4,970.03 Cr
Cost of Materials Consumed ₹4,382.2 Cr ₹4,357.87 Cr ₹4,287.76 Cr ₹4,595.16 Cr ₹4,013.98 Cr ₹2,694.59 Cr ₹2,722.18 Cr
Purchases of Stock-in-Trade ₹522.49 Cr ₹486.98 Cr ₹483.72 Cr ₹466.56 Cr ₹396.22 Cr ₹315.33 Cr ₹284.23 Cr
Changes in Inventories ₹99.6 Cr ₹7.76 Cr -₹1.75 Cr -₹106.38 Cr -₹280.94 Cr -₹98.49 Cr ₹51.21 Cr
Employee Benefit Expense ₹490.28 Cr ₹447.18 Cr ₹401.76 Cr ₹333.84 Cr ₹312.37 Cr ₹258.58 Cr ₹269.38 Cr
Finance Costs ₹18.41 Cr ₹15.09 Cr ₹12.46 Cr ₹9.73 Cr ₹9.87 Cr ₹7.49 Cr ₹5 Cr
Depreciation & Amortisation ₹221.36 Cr ₹193.68 Cr ₹179.96 Cr ₹164.63 Cr ₹153.82 Cr ₹138.97 Cr ₹119.88 Cr
Other Expenses ₹1,258.44 Cr ₹1,222.79 Cr ₹1,198.93 Cr ₹997.95 Cr ₹859.93 Cr ₹686.91 Cr ₹834.55 Cr
Total Expenses ₹6,992.78 Cr ₹6,731.35 Cr ₹6,562.84 Cr ₹6,461.49 Cr ₹5,465.25 Cr ₹4,003.38 Cr ₹4,286.43 Cr
Profit Before Exceptional Items & Tax ₹898.91 Cr ₹907.42 Cr ₹923.57 Cr ₹650.36 Cr ₹516.51 Cr ₹725.33 Cr ₹683.6 Cr
Exceptional Items -₹60.7 Cr ₹479.19 Cr ₹642.25 Cr ₹0 -₹11.39 Cr -₹10.82 Cr ₹0
Profit Before Tax ₹838.21 Cr ₹1,386.61 Cr ₹1,565.82 Cr ₹650.36 Cr ₹505.12 Cr ₹714.51 Cr ₹683.6 Cr
Total Tax Expense ₹218.36 Cr ₹365.37 Cr ₹382.95 Cr ₹163.93 Cr ₹130.79 Cr ₹183.52 Cr ₹148.2 Cr
Net Profit ₹619.85 Cr ₹1,021.24 Cr ₹1,182.87 Cr ₹486.43 Cr ₹374.33 Cr ₹530.99 Cr ₹535.4 Cr
Other Comprehensive Income ₹6.74 Cr -₹3.46 Cr -₹3.77 Cr ₹16 Lakh ₹2.51 Cr ₹19 Lakh -₹1.02 Cr
Total Comprehensive Income ₹626.59 Cr ₹1,017.78 Cr ₹1,179.1 Cr ₹486.59 Cr ₹376.84 Cr ₹531.18 Cr ₹534.38 Cr
EBITDA (computed) ₹1,138.68 Cr ₹1,116.19 Cr ₹1,115.99 Cr ₹824.72 Cr ₹680.2 Cr ₹871.79 Cr ₹808.48 Cr
Basic EPS ₹8.25 ₹12.63 ₹14.63 ₹9.03 ₹6.95 ₹9.85 ₹9.94
Diluted EPS ₹8.24 ₹12.62 ₹14.62 ₹9.02 ₹6.95 ₹9.85 ₹9.94
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹8,538.59 Cr ₹7,969.24 Cr ₹7,224.8 Cr ₹6,075.13 Cr
Non-current Assets ₹2,923.87 Cr ₹2,795.48 Cr ₹2,496.16 Cr ₹2,367.38 Cr
Current Assets ₹5,614.72 Cr ₹5,173.76 Cr ₹4,728.59 Cr ₹3,707.7 Cr
Property, Plant & Equipment ₹2,285.11 Cr ₹1,935.67 Cr ₹1,866.62 Cr ₹1,812.96 Cr
Inventories ₹1,492.92 Cr ₹1,609.71 Cr ₹1,616.04 Cr ₹1,648.02 Cr
Trade Receivables ₹1,379.83 Cr ₹1,274.7 Cr ₹1,215.25 Cr ₹1,117.15 Cr
Cash & Equivalents ₹184.12 Cr ₹85.72 Cr ₹162.37 Cr ₹90.22 Cr
Equity (Net Worth) ₹6,695.77 Cr ₹6,366.23 Cr ₹5,653.12 Cr ₹4,607.38 Cr
Equity Share Capital ₹80.87 Cr ₹80.84 Cr ₹80.84 Cr ₹53.89 Cr
Borrowings (Non-current) ₹0 ₹0 ₹0 ₹0
Borrowings (Current) ₹0 ₹0 ₹0 ₹0
Total Debt (computed) ₹0 ₹0 ₹0 ₹0
Current Liabilities ₹1,498.19 Cr ₹1,287.33 Cr ₹1,314.51 Cr ₹1,250.59 Cr
Total Liabilities ₹1,842.82 Cr ₹1,603.01 Cr ₹1,571.68 Cr ₹1,467.75 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹885.35 Cr ₹647.48 Cr ₹895.09 Cr ₹386.19 Cr ₹59.09 Cr
Investing Cash Flow -₹429.03 Cr -₹372.48 Cr -₹635.63 Cr -₹273.54 Cr ₹251.46 Cr
Financing Cash Flow -₹357.92 Cr -₹351.65 Cr -₹187.31 Cr -₹88.87 Cr -₹324.41 Cr
Capital Expenditure ₹211.89 Cr ₹324.53 Cr ₹232.57 Cr ₹111.3 Cr ₹213.78 Cr
Free Cash Flow (computed) ₹673.46 Cr ₹322.95 Cr ₹662.52 Cr ₹274.89 Cr -₹154.69 Cr
Dividends Paid ₹303.18 Cr ₹303.14 Cr ₹145.51 Cr ₹53.89 Cr ₹282.93 Cr
Net Change in Cash ₹98.4 Cr -₹76.65 Cr ₹73.13 Cr ₹24.76 Cr -₹13.86 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹1,873.44 Cr ₹1,907.35 Cr ₹1,871.02 Cr ₹2,087.42 Cr ₹1,740.43 Cr ₹1,842.16 Cr ₹1,863.77 Cr ₹2,050.35 Cr ₹1,661.7 Cr ₹1,814.86 Cr ₹1,845.57 Cr ₹2,071.17 Cr
Other Income ₹33.97 Cr ₹36.73 Cr ₹28.84 Cr ₹52.92 Cr ₹39.42 Cr ₹37.41 Cr ₹26.88 Cr ₹38.35 Cr ₹32.04 Cr ₹22.36 Cr ₹22.36 Cr ₹16.35 Cr
Total Income ₹1,907.41 Cr ₹1,944.08 Cr ₹1,899.86 Cr ₹2,140.34 Cr ₹1,779.85 Cr ₹1,879.57 Cr ₹1,890.65 Cr ₹2,088.7 Cr ₹1,693.74 Cr ₹1,837.22 Cr ₹1,867.93 Cr ₹2,087.52 Cr
Cost of Materials Consumed ₹1,144.88 Cr ₹1,032.35 Cr ₹1,078.71 Cr ₹1,126.26 Cr ₹1,055.79 Cr ₹1,043.06 Cr ₹1,167.74 Cr ₹1,091.28 Cr ₹1,032.72 Cr ₹1,051.03 Cr ₹1,131.99 Cr ₹1,072.02 Cr
Purchases of Stock-in-Trade ₹132.79 Cr ₹124.18 Cr ₹127.62 Cr ₹137.9 Cr ₹117.21 Cr ₹138.78 Cr ₹108.68 Cr ₹122.31 Cr ₹122.64 Cr ₹129.72 Cr ₹107.48 Cr ₹123.88 Cr
Changes in Inventories -₹52.28 Cr ₹72.99 Cr ₹9.43 Cr ₹69.46 Cr -₹35.09 Cr ₹10.1 Cr -₹45.41 Cr ₹78.16 Cr -₹71.13 Cr -₹22.5 Cr -₹52.17 Cr ₹144.05 Cr
Employee Benefit Expense ₹123.26 Cr ₹121.6 Cr ₹125.39 Cr ₹120.03 Cr ₹116.48 Cr ₹107.01 Cr ₹111.56 Cr ₹112.13 Cr ₹104.8 Cr ₹105.08 Cr ₹96.2 Cr ₹95.68 Cr
Finance Costs ₹5.29 Cr ₹5.77 Cr ₹3.76 Cr ₹3.59 Cr ₹3.67 Cr ₹4.75 Cr ₹3.3 Cr ₹3.37 Cr ₹3.15 Cr ₹3.22 Cr ₹3.17 Cr ₹2.92 Cr
Depreciation & Amortisation ₹59.07 Cr ₹58.53 Cr ₹52.54 Cr ₹51.22 Cr ₹49.74 Cr ₹51.46 Cr ₹46.5 Cr ₹45.98 Cr ₹45.78 Cr ₹46.23 Cr ₹45.2 Cr ₹42.75 Cr
Other Expenses ₹309.67 Cr ₹308.95 Cr ₹318.02 Cr ₹321.8 Cr ₹308.22 Cr ₹296.32 Cr ₹306.19 Cr ₹312.06 Cr ₹293.53 Cr ₹311.59 Cr ₹292.17 Cr ₹301.64 Cr
Total Expenses ₹1,722.68 Cr ₹1,724.37 Cr ₹1,715.47 Cr ₹1,830.26 Cr ₹1,616.02 Cr ₹1,651.48 Cr ₹1,698.56 Cr ₹1,765.29 Cr ₹1,531.49 Cr ₹1,624.37 Cr ₹1,624.04 Cr ₹1,782.94 Cr
Profit Before Exceptional Items & Tax ₹184.73 Cr ₹219.71 Cr ₹184.39 Cr ₹310.08 Cr ₹163.83 Cr ₹228.09 Cr ₹192.09 Cr ₹323.41 Cr ₹162.25 Cr ₹212.85 Cr ₹243.89 Cr ₹304.58 Cr
Exceptional Items -₹15.98 Cr -₹44.72 Cr ₹0 ₹0 ₹0 ₹479.19 Cr ₹0 ₹0 -₹19 Cr ₹0 ₹0 ₹661.25 Cr
Profit Before Tax ₹168.75 Cr ₹174.99 Cr ₹184.39 Cr ₹310.08 Cr ₹163.83 Cr ₹707.28 Cr ₹192.09 Cr ₹323.41 Cr ₹143.25 Cr ₹212.85 Cr ₹243.89 Cr ₹965.83 Cr
Total Tax Expense ₹47.89 Cr ₹43.79 Cr ₹47.45 Cr ₹79.23 Cr ₹40.34 Cr ₹180.79 Cr ₹61.93 Cr ₹82.31 Cr ₹41.71 Cr ₹55.24 Cr ₹64 Cr ₹222 Cr
Net Profit ₹120.86 Cr ₹131.2 Cr ₹136.94 Cr ₹230.85 Cr ₹123.49 Cr ₹526.49 Cr ₹130.16 Cr ₹241.1 Cr ₹101.54 Cr ₹157.61 Cr ₹179.89 Cr ₹743.83 Cr
Other Comprehensive Income ₹2.21 Cr ₹5.84 Cr -₹65 Lakh -₹66 Lakh -₹1.89 Cr -₹52 Lakh -₹51 Lakh -₹54 Lakh -₹3.96 Cr ₹5 Lakh ₹7 Lakh ₹7 Lakh
Total Comprehensive Income ₹123.07 Cr ₹137.04 Cr ₹136.29 Cr ₹230.19 Cr ₹121.6 Cr ₹525.97 Cr ₹129.65 Cr ₹240.56 Cr ₹97.58 Cr ₹157.66 Cr ₹179.96 Cr ₹743.9 Cr
EBITDA (computed) ₹249.09 Cr ₹284.01 Cr ₹240.69 Cr ₹364.89 Cr ₹217.24 Cr ₹284.3 Cr ₹241.89 Cr ₹372.76 Cr ₹211.18 Cr ₹262.3 Cr ₹292.26 Cr ₹350.25 Cr
Basic EPS ₹1.62 ₹1.62 ₹1.69 ₹2.86 ₹1.53 ₹6.51 ₹1.61 ₹2.98 ₹1.25 ₹1.95 ₹2.23 ₹9.20
Diluted EPS ₹1.62 ₹1.62 ₹1.69 ₹2.85 ₹1.53 ₹6.51 ₹1.61 ₹2.98 ₹1.25 ₹1.95 ₹2.22 ₹9.19
Latest 12 quarters shown of 25 on record.
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Shareholding Pattern of Kansai Nerolac Paints Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 74.96%, foreign institutional investors hold 3.61%, domestic institutional investors hold 11.90%, retail and other public shareholders hold 9.53% of Kansai Nerolac Paints Limited. The company had 150,761 shareholders on record.

Promoters: 74.96%DII (Domestic Institutional): 11.90%FII (Foreign Institutional): 3.61%Retail & Others: 9.53%
Mar 2026
QUARTER
74.96% Promoters
11.90% DII (Domestic Institutional)
3.61% FII (Foreign Institutional)
9.53% Retail & Others
Promoter holding - history
Now 74.96% · Mar 2026High 74.99% · Dec 2016Low 69.27% · Dec 2015
68%70%72%74%76%Dec 2015Jun 2018Dec 2020Jun 2023Sep 2025Dec 2015: 69.27%Mar 2016: 73.12%Jun 2016: 73.99%Sep 2016: 74.22%Dec 2016: 74.99%Mar 2017: 74.99%Jun 2017: 74.99%Sep 2017: 74.99%Dec 2017: 74.99%Mar 2018: 74.99%Jun 2018: 74.99%Sep 2018: 74.99%Dec 2018: 74.99%Mar 2019: 74.99%Jun 2019: 74.99%Sep 2019: 74.99%Dec 2019: 74.99%Mar 2020: 74.99%Jun 2020: 74.99%Sep 2020: 74.99%Dec 2020: 74.99%Mar 2021: 74.99%Jun 2021: 74.99%Sep 2021: 74.99%Dec 2021: 74.99%Mar 2022: 74.99%Jun 2022: 74.99%Sep 2022: 74.99%Dec 2022: 74.99%Mar 2023: 74.99%Jun 2023: 74.99%Jul 2023: 74.99%Sep 2023: 74.99%Dec 2023: 74.99%Mar 2024: 74.99%Jun 2024: 74.99%Sep 2024: 74.99%Dec 2024: 74.99%Mar 2025: 74.98%Jun 2025: 74.98%Sep 2025: 74.98%Dec 2025: 74.98%Mar 2026: 74.96%74.99%69.27%74.96%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters74.96%74.98%74.98%74.98%74.98%74.99%
Public25.04%25.02%25.02%25.02%25.02%25.01%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Promoters74.96%74.98%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%73.12%
Public25.04%25.02%25.01%25.01%25.01%25.01%25.01%25.01%25.01%25.01%26.88%
Promoter change (YoY, %pts)-0.02-0.01+0.00+0.00+0.00+0.00+0.00+0.00+0.00+1.87-

Board & Governance of Kansai Nerolac Paints Limited

As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Kansai Nerolac Paints Limited has 7 directors - 3 independent and 2 executive. The board is chaired by Bhaskar Bhat.

DirectorPositionOn board sinceListed boards
Bhaskar Bhat Non-Executive - Independent Director · Chairperson 2022-08-10 3
Sonia Singh Non-Executive - Independent Director 2019-07-29 5
T. Tomioka Non-Executive - Non Independent Director 2020-05-07 1
Pravin Chaudhari Executive Director · CEO-MD 2023-06-26 1
Hirokazu Kotera Executive Director 2024-08-01 1
Uday Bhansali Non-Executive - Independent Director 2024-11-06 2
Gen Yokota Non-Executive - Non Independent Director 2025-05-06 1
Board Committees
CommitteeMembers
Audit Committee Uday Bhansali (Chairperson), Sonia Singh, Bhaskar Bhat
Nomination and remuneration committee Uday Bhansali (Chairperson), Bhaskar Bhat, Sonia Singh, T. Tomioka
Stakeholders Relationship Committee Sonia Singh (Chairperson), Bhaskar Bhat, Pravin Chaudhari
Risk Management Committee Sonia Singh (Chairperson), Uday Bhansali, Hirokazu Kotera, Pravin Chaudhari, Jason Simon Gonsalves, Yash Ahuja
Corporate Social Responsibility Committee Sonia Singh (Chairperson), Bhaskar Bhat, Pravin Chaudhari

Group Structure of Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited has 1 subsidiary company. This group structure data is as of FY 2023. The corporate group structure reflects Kansai Nerolac Paints Limited's business expansion strategy and organizational complexity.

1
Subsidiary companies
Key Subsidiaries
Company Name CIN Shares Held
Nerofix Private Limited U24299MH2019PTC328170 -

Showing major subsidiaries. Total: 1.

Charges & Borrowings of Kansai Nerolac Paints Limited

Open charges
₹0
Satisfied charges
₹189.34 Cr
Breakdown by lending institutions
Union Bank of India Limited₹90.00 Cr
Pradeshiya Industrial & Iinvestment Corporation of Uttar Pradesh (Picup)₹40.00 Cr
Hdfc Bank Limited₹30.00 Cr
Industrial Development Bank of India₹15.00 Cr
Punjab National Bank₹7.25 Cr
Others₹7.09 Cr
Latest charge details
DateLenderAmountStatus
15 Jan 2019 Hdfc Bank Limited ₹30 Cr Satisfied
25 Aug 1999 Punjab National Bank ₹5.75 Cr Satisfied
30 Jun 1998 Punjab National Bank ₹1.5 Cr Satisfied
29 Aug 1997 Industrial Development Bank of India ₹15 Cr Satisfied
19 Dec 1995 Pradeshiya Industrial & Iinvestment Corporation of Uttar Pradesh (Picup) ₹40 Cr Satisfied

Total charge records: 10 View all charges

Employees and EPFO Compliance at Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited has a workforce of 3,794 employees as of Apr 04, 2024.

Employee count
3,794
Active EPFO establishments
7
Employee growth
15.14%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Kansai Nerolac Paints Limited

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Monthly employee headcount & PF contributions
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GST Compliance of Kansai Nerolac Paints Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Kansai Nerolac Paints Limited

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GSTIN registrations & state-wise presence
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Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Kansai Nerolac Paints Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Kansai Nerolac Paints Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
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Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
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MSME Payment Delays by Kansai Nerolac Paints Limited

MSME Payment Delays by Kansai Nerolac Paints Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Kansai Nerolac Paints Limited

Subsidiaries & Group Companies of Kansai Nerolac Paints Limited

See the full corporate group - holding company, subsidiaries, associates and joint ventures of Kansai Nerolac Paints Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Kansai Nerolac Paints Limited

MCA Filings & Documents of Kansai Nerolac Paints Limited

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Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Kansai Nerolac Paints Limited

Directors
22 Aug 2025
Yash Ahuja was appointed as a Cfo on 22 Aug 2025 & has been associated with this company since 10 months 16 days.
Directors
01 Aug 2025
Yash Ahuja was appointed as a CFO on 01 Aug 2025 & has been associated with this company since 11 months 7 days.
Activity
30 Jun 2025
Kansai Nerolac Paints Limited last Annual general meeting of members was held on 30 Jun 2025 as per latest MCA records.
Directors
06 May 2025
Gen Yokota was appointed as a Director on 06 May 2025 & has been associated with this company since 1 year 2 months.
Activity
31 Mar 2025
Kansai Nerolac Paints Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
27 Feb 2025
A charge registered on 25 Aug 1999 via Charge ID 90188781 with Punjab National Bank was fully satisfied on 27 Feb 2025.

Frequently Asked Questions about Kansai Nerolac Paints Limited

Kansai Nerolac Paints Limited is an active public limited company in the manufacturing sector based in Mumbai, Maharashtra, India. It was incorporated on 02 September 1920 (106+ years old) and is registered under CIN L24202MH1920PLC000825. Listed on BSE: 500165 and NSE: KANSAINER. The company has 3,794 employees.

Kansai Nerolac Paints Limited reported revenue of ₹7,486.41 Cr for FY 2024 (down 1.00% YoY).

The primary industry of Kansai Nerolac Paints Limited is manufacturing. The company specifically operates in paint and coatings. The company is currently active in this sector.

Yes. Kansai Nerolac Paints Limited is listed on both BSE (code: 500165) and NSE (symbol: KANSAINER).

Kansai Nerolac Paints Limited can be reached at the registered office: 28Th Floor A – Wing Marathon Futurex, N. M. Joshi Marg Lower Parel, Mumbai, Maharashtra, India – 400013, or through the website nerolac.com.

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