- Home
- Results news
- Kansai Nerolac Paints
- Q2 FY27 results
Kansai Nerolac Paints Q2 FY27 results: net profit up 8.0% to ₹143.99 crore, revenue up 18.6%
Kansai Nerolac Paints Limited reported consolidated Q2 FY27 revenue of ₹2,317 crore, up 18.6% from Q2 FY26, while net profit rose 8.0% to ₹143.99 crore. EBITDA increased 4.1% to ₹224.09 crore, but the EBITDA margin fell 1.3 percentage points to 9.7%; the results were announced on 4 November 2026.
Key points
- Consolidated Q2 FY27 revenue was ₹2,317 crore, up 18.6% from Q2 FY26.
- EBITDA was ₹224.09 crore, up 4.1%, while EBITDA margin declined 1.3 percentage points to 9.7%.
- Net profit was ₹143.99 crore, up 8.0%, and basic EPS was ₹1.81, up 8.4%.
- In H1 FY27, revenue was ₹4,690.97 crore, up 14.0%, and net profit was ₹372.4 crore, up 6.7%.
- Total assets were ₹9,204.26 crore as of 30 September 2026, while borrowings were ₹82.56 crore and cash was ₹120.29 crore.
How did Kansai Nerolac Paints perform in Q2 FY27?
Kansai Nerolac Paints’ consolidated Q2 FY27 revenue was ₹2,317 crore, compared with ₹1,954 crore in Q2 FY26 and ₹2,374 crore in Q1 FY27. EBITDA was ₹224.09 crore, up 4.1% year on year but down 31.8% sequentially. The EBITDA margin was 9.7%, compared with 11.0% a year earlier and 13.8% in the previous quarter.
Consolidated net profit for Q2 FY27 was ₹143.99 crore, up 8.0% from ₹133.31 crore in Q2 FY26 but down 37.0% from ₹228.41 crore in Q1 FY27. Basic EPS was ₹1.81, compared with ₹1.67 a year earlier and ₹2.86 in the previous quarter. On the standalone basis, revenue was ₹2,268.77 crore and net profit was ₹148.64 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,317 | 2,374 | 1,954 | +18.6% | −2.4% |
| Other income | 35.10 | 54.94 | 28.43 | +23.5% | −36.1% |
| Total expenses | 2,164 | 2,116 | 1,801 | +20.2% | +2.3% |
| EBITDA | 224.09 | 328.37 | 215.26 | +4.1% | −31.8% |
| EBITDA margin | 9.7% | 13.8% | 11.0% | −1.3 pp | −4.1 pp |
| Profit before tax | 188.28 | 312.46 | 181.67 | +3.6% | −39.7% |
| Tax | 44.29 | 84.05 | 48.36 | −8.4% | −47.3% |
| Net profit | 143.99 | 228.41 | 133.31 | +8.0% | −37.0% |
| EPS (₹) | 1.81 | 2.86 | 1.67 | +8.4% | −36.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Kansai Nerolac Paints' costs and profit?
Consolidated total expenses were ₹2,164 crore in Q2 FY27, up ₹363.26 crore or 20.2% from Q2 FY26. Cost of materials rose ₹484.45 crore to ₹1,615 crore, while employee cost increased ₹5.10 crore to ₹142.52 crore, depreciation rose ₹8.86 crore to ₹63.17 crore and finance costs were ₹7.74 crore, up ₹0.03 crore. Other expenses declined ₹5.44 crore to ₹330.01 crore.
Other income increased ₹6.67 crore to ₹35.10 crore, and there was no exceptional item. Tax expense fell ₹4.07 crore to ₹44.29 crore. Profit before tax rose ₹6.61 crore to ₹188.28 crore, while the net profit margin was 6.2%, compared with 6.8% in Q2 FY26. The filing does not state the reasons for the changes in costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,615 | 1,131 | +484.45 | +42.8% |
| Employee cost | 142.52 | 137.42 | +5.10 | +3.7% |
| Finance costs | 7.74 | 7.71 | +0.03 | +0.4% |
| Depreciation | 63.17 | 54.31 | +8.86 | +16.3% |
| Other expenses | 330.01 | 335.45 | −5.44 | −1.6% |
| Total expenses | 2,164 | 1,801 | +363.26 | +20.2% |
| Other income | 35.10 | 28.43 | +6.67 | +23.5% |
| Tax | 44.29 | 48.36 | −4.07 | −8.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹4,690.97 crore, up 14.0% from ₹4,116.21 crore in H1 FY26. Total income increased 13.9% to ₹4,781.01 crore, and profit before tax rose 4.9% to ₹500.74 crore. Net profit was ₹372.4 crore, compared with ₹348.9 crore, and basic EPS was ₹4.67, compared with ₹4.4.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4,691 | 4,116 | +14.0% |
| Profit before tax | 500.74 | 477.13 | +4.9% |
| Net profit | 372.40 | 348.90 | +6.7% |
| EPS (₹) | 4.67 | 4.40 | +6.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, consolidated total assets were ₹9,204.26 crore, compared with ₹8,711.11 crore as of 31 March 2026. Total equity rose to ₹6,857.7 crore from ₹6,688.85 crore. Borrowings were ₹82.56 crore, compared with ₹82.68 crore, while cash declined to ₹120.29 crore from ₹196.79 crore. Inventories were ₹1,922.51 crore, trade receivables ₹1,909.98 crore and trade payables ₹1,449.04 crore.
For H1 FY27, operating cash flow was a net outflow of ₹78.04 crore, compared with an inflow of ₹201.71 crore in H1 FY26. Investing cash flow was an inflow of ₹239.75 crore, compared with ₹237.9 crore, while financing cash flow was an outflow of ₹238.24 crore, compared with ₹365.5 crore. Capital expenditure was ₹135.17 crore, compared with ₹103.08 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 9,204 | 8,711 |
| Total equity | 6,858 | 6,689 |
| Borrowings | 82.56 | 82.68 |
| Cash and equivalents | 120.29 | 196.79 |
| Inventories | 1,923 | 1,530 |
| Trade receivables | 1,910 | 1,467 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −78.04 | 201.71 |
| Cash from investing | 239.75 | 237.90 |
| Cash from financing | −238.24 | −365.50 |
| Capital expenditure | 135.17 | 103.08 |
Source: Company's results filing (XBRL).
How has Kansai Nerolac Paints done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. In the latest quarter, revenue was ₹2,317.38 crore, below Q1 FY27’s ₹2,373.59 crore but above Q2 FY26’s ₹1,954.18 crore. Profit increased year on year in each of the last three quarters.
How did other Paints companies do?
Five Paints companies that had filed this quarter had a median revenue growth of 15.0%. All five grew slower than Kansai Nerolac, and none grew faster than the company. One of the five reported higher profit, based on a comparison covering five peers.
| Kansai Nerolac Paints revenue growth (YoY) | +18.6% |
|---|---|
| Median of 5 other Paints companies | +15.0% |
| Companies with slower revenue growth than Kansai Nerolac Paints | 5 of 5 |
| Companies with faster revenue growth than Kansai Nerolac Paints | 0 of 5 |
| Companies whose net profit rose | 1 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kansai Nerolac Paints' revenue in Q2 FY27?
Revenue from operations was ₹2,317 crore, up 18.6% from ₹1,954 crore in Q2 FY26 (consolidated).
Did Kansai Nerolac Paints make a profit in Q2 FY27?
Yes. Net profit was ₹143.99 crore, against a net profit of ₹133.31 crore in Q2 FY26.
What was Kansai Nerolac Paints' EPS in Q2 FY27?
Basic earnings per share were ₹1.81, against ₹1.67 in Q2 FY26.
When did Kansai Nerolac Paints announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.