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Stock Report
Kansai Nerolac Paints Ltd Q1FY21 consolidated PAT at Rs. 33.47 crore
Posted On : 2020-08-03 14:56:58( TIMEZONE : IST )
KANSAI NEROLAC PAINTS LTD. has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.647.08 crores during the period ended June 30, 2020 as compared to Rs.1083.91 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.33.47 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.67.22 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.0.62 for the period ended June 30, 2020 as compared to Rs.1.25 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 647.08 crs | ₹ 1083.91 crs |  -40.3% |
| Net Profit | ₹ 33.47 crs | ₹ 67.22 crs | -50.21% |
| EPS | ₹ 0.62 | ₹ 1.25 | -50.4% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.647.08 crores during the period ended June 30, 2020 as compared to Rs.1549.18 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.33.47 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.146.02 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.0.62 for the period ended June 30, 2020 as compared to Rs..71 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 647.08 crs | ₹ 1549.18 crs | -58.23% |
| Net Profit | ₹ 33.47 crs | ₹ 146.02 crs | -77.08% |
| EPS | ₹ 0.62 | ₹ .71 | -12.68% |
Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said, "There was an unprecedented demand destruction this quarter due to the lock down imposed on account of COVID -19. Both sales and bottom-line was impacted as a result. Sales in April were a complete washout across. Sales of Decorative has seen revival in May and June with the company registering double digit volume growth in both the months. Industrial sales continued to be impacted in both May and June due to the slow recovery of the end customers.
Despite the severe drop in topline, an aggressive cost control program and judicious management of overheads helped the company report profit. EBITDA drop was also contained to just 350 basis points. Basic raw material prices were benign this quarter though there was volatility in forex rates.
Looking forward, the company is optimistic that demand recovery would continue. Due to frequent lockdowns and COVID cases across, managing the eco system of supply chain is becoming a bigger challenge. However, with multiple plants the company is in a better position to manage it though it is creating a logistic challenge".
Shares of KANSAI NEROLAC PAINTS LTD. was last trading in BSE at Rs.435.5 as compared to the previous close of Rs. 419.55. The total number of shares traded during the day was 3734 in over 440 trades.
The stock hit an intraday high of Rs. 435.65 and intraday low of 419.55. The net turnover during the day was Rs. 1602252.
