Buy Kansai Nerolac Paints, target price Rs 613: HDFC Securities

HDFC Securities has buy call on Kansai Nerolac Paints with a target price of Rs 613. The current market price of Kansai Nerolac Paints is Rs 499.1. Time period given by analyst is one year when Kansai Nerolac Paints Ltd. price can reach defined target.

Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 26940.60 Crore) operating in Building Materials sector.

Kansai Nerolac Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2056.20 Crore, up 33.90 % from last quarter Total Income of Rs 1535.63 Crore and up 45.55 % from last year same quarter Total Income of Rs 1412.70 Crore. Company reported net profit after tax of Rs 152.05 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 3.28 per cent, DIIs 13.39 per cent.