Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 34366.91 Crore) operating in Building Materials sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1412.70 Crore, down -3.93 % from last quarter Total Income of Rs 1470.50 Crore and up 118.32 % from last year same quarter Total Income of Rs 647.08 Crore. Company reported net profit after tax of Rs 111.38 Crore in latest quarter.
Investment Rationale
The brokerage models revenue and PAT CAGRs of 18.5% and 18% respectively over FY21-23E. It maintains ADD rating with DCF based TP of Rs680 (50x FY23E). Key risks: continued slow-down due to covid and steep inflation in input prices.
Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2021, while FIIs held 3.8 per cent, DIIs 11.5 per cent and public and others 9.7 per cent.
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