Nerolac Paints Q4 Results: Net Revenue at ₹1662 Crore, up 3.5% from Q4FY23

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May 4 2024 saw Kansai Nerolac Paints announcing their Q4 results for FY24. With a Net Revenue of ₹1662 Crore, up 3.5% from Q4FY23 and an EBIDTA at ₹179 Crores, up 17.5 % from Q4FY23, the company has seen considerable growth in this quarter. The company’s Board of Directors has also recommended a total dividend of 375% (₹3.75 per share) including special dividend of 125% (₹1.25 per share).

5 Key Financial Highlights

Kansai Nerolac Paints has seen a lot of growth in the fourth quarter without a doubt. Here are the five key financial highlights of Kansai Nerolac Paints Q4 results:

  • Net Revenue at ₹1662 Crore, up 3.5% from Q4FY23
  • PBT before exception items at ₹162 Crores, up 32.7% from Q4FY23
  • EBIDT at ₹179 Crores, up 17.5 % from Q4FY23
  • Net revenue for FY24 at ₹7393 Crores, up 4.4% YoY
  • PBT before exceptional items for FY24 at ₹924 Crores, up 42 % YoY

ExploreKansai Nerolac Paints Share Price

Key Business Updates:

  • Kansai Nerolac Paints sold its 4.13 acre Lower Parel plot for ₹726 Crore post the approval from the board of directors in a bid to utilize idle land parcels for the company’s growth 
  • The company also approved another sale of land in Kavesar, which would yield the company ₹655 Crores
  • January saw Kansai Nerolac Paints announce the completion of its project of painting the 16-kilometer Ayodhya Dham stretch. This was a part of the Paint My City Project.
  • In March, the company completed another undertaking, under their Paint My City Project, in the historical city of Varanasi. 

Additional ReadQuarterly Results

Profitability Analysis:

The numbers shared by Kansai Nerolac Paints clearly show the company's growth in this quarter and in the entirety of FY24. With its net revenue at ₹1662 Crore, up 3.5%, PBT before exception items at ₹162 Crores, up 32.7% and EBIDTA at ₹179 Crores, up 17.5 % from Q4FY23, Q4 has proven to be very profitable for the company. When it comes to FY24, the company saw a net revenue of ₹7393 Crores, up 4.4% PBT before exceptional items for FY24 of ₹924 Crores, up 42 % YoY. The managing director of Kansai Nerolac Paint also said that the decorative coating segment again recorded a double-digit volume growth. Other than this, because the raw material prices remained stable the company’s gross margins improved over the corresponding quarter last year as well.

Additional ReadKotak Mahindra Bank Q4 Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Kansai Nerolac (in ₹ Crore)







Revenue from operations






Total Income






Profit before tax






Profit for the period






The Future of Kansai Nerolac Paints

From being a small paint and varnish company in 1920 to becoming one of the leading paint companies in the country, Kansai Nerolac Paint has come a long way and is now in its 104th year of paint manufacturing. The company is known for manufacturing a wide range of products from decorative paints, and coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most industries. With all the numbers that the company has shared regarding both its fourth quarter and FY24 results, and the fact that its initiatives like feet-on-street, influencer outreach and new product launches are doing well, the company is in for a good monsoon season. 

Additional ReadRaymond Q4 Results


With Kansai Nerolac Paints announcing their Q4 results for FY24, the company saw marginal growth in their net revenue and EBIDTA from Q4FY23, the company has seen considerable growth in this quarter. Apart from this the company’s growth also also been profitable YoY when compared to the entirety of FY23. With the obvious growth trajectory heading in the right direction for the company, the Board of Directors also recommended a total dividend of 375% (₹3.75 per share) including special dividend of 125% (₹1.25 per share). 

Additional Read: Britannia Q4 Results

About Kansai Nerolac

Established as Gahagan Paints and Varnish in Lower Parel in Mumbai in 1920, Kansai Nerolac Paints has come a long way. As of now, the company is the country's second-largest paint company and an extremely trusted name in the industry. After Gahagan Paints and Varnish, the company changed its name to Goodlass Wall Pvt. Ltd. It was then in 1957 that Goodlass started being known as Goodlass Nerolac Paints and went public, establishing itself with the same name. Almost two decades later in 1976, the company became a part of the Tata Forbes Group post Forbes Gokak’s acquisition of a part of the company’s foreign stocks. IN 1983, the company entered into a technical collaboration with  Kansai Paint Co. Ltd., Japan and Nihon Tokushu Tokyo Co. Ltd., Japan and in 1999, Kansai Paint Co. Ltd took over all of the stake from Tata Forbes Group, making Goodlass its full-owned subsidiary. It was in 2006 that Goodlass Paint officially changed its name to Kansai Nerolac Paints. The company today has seven company-owned plants in 1. Jainpur in Uttar Pradesh, 2. Bawal in Haryana, 3. Lote in Maharashtra, 4. Hosur in Tamil Nadu, 5. Sayakha in Gujarat, 6. Goindwal in Punjab and 7. Vishakhapatnam in Andhra Pradesh.

Results for the Fourth Quarter and Full Year Ended March 31, 2024

Additional Read: DMart Q4 Results


  1. Kansai Nerolac Financial Report

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