EBIDTA for the fourth quarter was at Rs 179 crore, a growth of 18% over the same quarter of the previous year.

Profit before tax stood at Rs 143 crore, up by 17% from Rs 122 crore recorded in Q4 FY23.

For FY24, Kansai Nerolac has reported net profit and net revenue of Rs 1,183 crore (up 143% YoY) and Rs 7,393 crore (up 4% YoY).

Anuj Jain, managing director, Kansai Nerolac Paints, said: “The demand for Industrial coatings though good, moderated from previous quarter.

Decorative once again recorded double digit volume growth. Raw material prices were stable. Gross margins improved over the corresponding quarter last year due to the benign raw material cost.

The initiatives in the areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects are yielding results for the company. Going forward, the forecast of a good monsoon should augur well for paint industry.”

Kansai Nerolac is one of the leading paint companies in India and is the leader in Industrial paints. The company has eight strategically located manufacturing units all over India and a strong dealer network across the country. The company manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most of the industries.

The scrip shed 0.45% to currently trade at Rs 287 on the BSE.