Kansai Nerolac slips 6%, hits 52-week low as Q4 PAT declines 81%

The management said the quarter witnessed impact in terms of demand for decorative business on account of the steep price increase taken towards the end of Q3FY22.

Shares of Kansai Nerolac hit a 52-week low of Rs 403, down 6 per cent on the BSE in Wednesday’s intra-day trade after the company reported a sharp fall in its net profit for the March quarter (Q4FY22). Its net profit declined a whopping 80.9 per cent year on year (YoY) to Rs 24.5 crore due to muted sales and higher raw material cost.

The company’s net revenue from operations grew 4.2 per cent YoY to 1,413 crore.  Earnings before interest, taxes, depreciation, and amortization (ebitda) was down 60 per cent YoY to Rs 82.9 crore, while margin sharply contracted by