THEBUSINESSBYTES BUREAU

MUMBAI, FEBRUARY 4, 2026

Kansai Nerolac Paints Limited (KNPL), one of India’s leading paint manufacturers, has reported stable financial performance for the third quarter (Q3) of FY 2025-26, supported by strong growth in its industrial coatings segment, particularly automotive coatings, even as demand in decorative paints remained muted.

Announcing its unaudited results following a board meeting on Tuesday, the company recorded net revenue of Rs. 1,907.35 crore during the quarter, marking a growth of 3.5 percent over the corresponding period last year. The company’s EBITDA stood at Rs. 247.28 crore, registering a marginal rise of 0.2 percent year-on-year. Profit Before Tax (before exceptional items) declined by 3.7 percent to Rs. 219.71 crore, while Profit After Tax (after exceptional items) was reported at Rs. 131.20 crore for the quarter.

For the nine-month period of the current financial year, the company posted net revenue of Rs. 5,865.79 crore, reflecting a growth of 1.9 percent over the same period of the previous year. However, EBITDA for the nine months fell by 3.2 percent to Rs. 771.10 crore. Profit Before Tax (before exceptional items) declined by 4 percent to Rs. 714.18 crore, while Profit After Tax stood at Rs. 498.99 crore.

Commenting on the performance, Pravin Chaudhari, Managing Director, Kansai Nerolac Paints Ltd, said, “Industrial coatings registered strong growth during the quarter led by Automotive. The positive effect of the rate cuts in GST done towards the end of September has led to good demand across various OEM categories. In Decorative, while overall demand conditions remained subdued in addition to a shorter festival season, the internal initiatives of the company have helped register good growth in Projects, Distribution, water proofing and Construction Chemicals.”

He further noted that raw material prices remained stable, though the company experienced volatility due to forex fluctuations and geopolitical uncertainties. “Looking forward, the growth momentum is expected to be maintained in Automotive and Performance Coatings. The recovery in Decorative will continue to be gradual,” Chaudhari added.

The company’s outlook remains optimistic, supported by strong long-term fundamentals of the domestic paint industry, which is valued at approximately Rs. 77,500 crore as of March 2025. Continued expansion in infrastructure, core sectors, automobile manufacturing, and real estate is expected to drive sustained demand for paints across industrial and decorative segments.

Now in its 106th year, Kansai Nerolac Paints has established itself as a pioneer in the Indian paint industry and a market leader in industrial coatings. With eight strategically located manufacturing units across India and an extensive dealer network, the company offers a diverse portfolio ranging from decorative paints for residential and commercial spaces to advanced industrial coatings catering to multiple sectors.