Hold Kansai Nerolac Paints, target price Rs 520: ICICI Direct

ICICI Direct has hold call on Kansai Nerolac Paints with a target price of Rs 520. The current market price of Kansai Nerolac Paints is Rs 504.05.

Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 27180.42 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.