Kansai Nerolac Paints Limited , one of India's leading paint manufacturers, has announced its financial results for the quarter, revealing a modest growth in revenue despite challenging market conditions.

Financial Performance

The company reported a net revenue of Rs 2,087.42 crore for the quarter, marking a 1.8% increase compared to the same period last year. However, profitability metrics showed a slight decline:

Market Dynamics and Segment Performance

Kansai Nerolac experienced mixed results across its various segments:

• Decorative Segment: Showed signs of revival but was impacted by an early monsoon, particularly affecting key markets in the North.
• Automotive Segment: Demand for Kansai Nerolac products continued to outperform the market, supported by various initiatives.
• Performance Coatings: Registered strong growth.

Operational Highlights

• Raw material prices remained benign during the quarter.
• Forex volatility continued to be a factor affecting the company's operations.

Management Commentary

Mr. Pravin Chaudhari, Managing Director of Kansai Nerolac Paints Ltd, commented on the results: "During the quarter, demand for Decorative showed signs of revival though an early monsoon impacted during the later part of the quarter. KNP decorative performance was affected due to the disturbance in April which impacted key markets in the North. In Automotive, demand for KNP continued to be better than the market, on the back of various initiatives."

Future Outlook

Looking ahead, the company anticipates:

1. Improvement in decorative demand driven by a favorable monsoon and the early onset of Diwali.
2. Continued market-leading growth trajectory in the industrial segment.

Industry Perspective

The domestic paint industry is estimated to be valued at around Rs 77,500 crore. Positive growth in infrastructure, core sectors, automobile, and real estate is expected to have a favorable impact on the overall demand for paint in the long run.

About Kansai Nerolac Paints Ltd

Now in its 105th year, Kansai Nerolac Paints has established itself as a pioneer in paint manufacturing, offering a wide spectrum of quality paints. The company is a leader in industrial paints and operates nine strategically located manufacturing units across India, supported by a strong dealer network. Its product range spans from decorative paints for homes and commercial spaces to sophisticated industrial coatings.

As the paint industry continues to evolve, Kansai Nerolac remains committed to innovation and quality, positioning itself to capitalize on the growing demand in both decorative and industrial segments.

Kansai Nerolac Paints Limited , a leading paint manufacturer in India, has announced a significant change in its top leadership. The company's long-serving Chief Financial Officer (CFO), P.D. Pai, is set to retire, paving the way for Yash Ahuja to assume the role.

Retirement of P.D. Pai

P.D. Pai, who has been an integral part of Kansai Nerolac for nearly four decades, will retire from his position as CFO effective July 31, 2025. The Board of Directors has expressed their sincere appreciation for Pai's valuable contributions during his remarkable 36-year tenure with the company.

Appointment of Yash Ahuja

Taking the financial reins from August 1, 2025, will be Yash Ahuja, who brings over 24 years of extensive finance experience to the role. Ahuja's appointment was approved by the Board of Directors on the recommendation of the Nomination and Remuneration Committee and the Audit Committee.

Yash Ahuja's Professional Background

Ahuja comes with impressive credentials and a wealth of experience:

• Associate Member of the Institute of Chartered Accountants of India
• Bachelor's degree in Commerce from South City College, Calcutta University
• Executive education from the University of California, Berkeley, Haas School of Business
• Previous experience with notable organizations including Panasonic Life Solutions India Pvt. Ltd., Wrigley, Hewlett-Packard, General Electric, and SpiceJet Limited in finance and strategy roles

Ahuja has been serving as Senior Vice President - Finance (CFO Designate) at Kansai Nerolac since April 16, 2025, preparing for this transition.

Additional Responsibilities

In addition to his role as CFO, Yash Ahuja will also assume the position of Chief Risk Officer from August 1, 2025, taking over this responsibility from P.D. Pai as well.

Key Managerial Personnel Update

Effective August 1, 2025, Kansai Nerolac Paints Limited's Key Managerial Personnel structure will be as follows:

The company has also updated its authorization for determining the materiality of events and making related disclosures to stock exchanges. From August 1, 2025, this responsibility will be shared by Pravin D. Chaudhari (Managing Director) and either Yash Ahuja (Chief Financial Officer) or G.T. Govindarajan (Company Secretary).

This leadership transition marks a new chapter for Kansai Nerolac Paints Limited as it continues to navigate the competitive paint industry landscape in India.