Kansai Nerolac Paints on May 10 has posted 80 percent fall in ist Q4 net profit at Rs 24.73 crore, down 80.1% from Rs 124.28 crore, YoY.
Kansai Nerolac Paints
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Kansai Nerolac Paints share price touched a 52-week low of Rs 403, falling 6.5 percent intraday on May 11 after the company came out with its March quarter earnings.
Kansai Nerolac Paints on May 10 posted 80.1 percent decline in its Q4 net profit at Rs 24.73 crore as against Rs 124.28 crore a year back.
Its revenue was up 5.2 percent at Rs 1,536.60 crore versus Rs 1,459.57 crore, YoY.
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Here is what brokerages have to say about the stock and the company after the March quarter earnings:
Morgan Stanley
The research firm has kept ‘underweight’ rating on the stock with a target at Rs 394 per share as the earnings missed the estimates.
It’s most levered to commodity risks and earnings risk among paint companies. However, medium-term margin may be under pressure and lead to a valuation de-rating, reported CNBC-TV18.
Nomura
The broking house has maintained the ‘buy’ rating on the stock with a target at Rs 750 per share as the earnings were below estimates, both on sales and margin.
The gross margin declined 660 bps on-year and 340 bps on-quarter to 28, reported CNBC-TV18.
At 10:11am, Kansai Nerolac Paints was quoting at Rs 412.90, down Rs 18.20, or 4.22 percent, on the BSE.
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