Add Kansai Nerolac Paints, target price Rs 370: ICICI Securities

ICICI Securities has add call on Kansai Nerolac Paints with a target price of Rs 370. The current market price of Kansai Nerolac Paints is Rs 299.75.

Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 24210.97 Crore) operating in Building Materials sector.

Kansai Nerolac Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes, Scrap and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 1938.84 Crore, down -2.01 % from last quarter Total Income of Rs 1978.56 Crore and up 5.71 % from last year same quarter Total Income of Rs 1834.19 Crore. Company reported net profit after tax of Rs 152.09 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 224.97 per cent stake in the company as of 31-Dec-2023, while FIIs owned 12.84 per cent, DIIs 35.52 per cent.