Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24.
Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap.
India’s largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.
The company's Q4 revenue rose by 3.5 per cent compared to the same period last year but was below consensus estimates.
The