Nomura Maintains Buy Rating On Kansai Nerolac

Nomura Maintains Buy Rating On Kansai Nerolac
09/05/2020 , by , in ALLIED

In the near term, the brokerage firm Nomura believes the company, with its strong R&D, will launch new products with health-protective features to drive higher-than-industry sales.

Kansai Nerolac’s fourth quarter results were below estimates, largely impacted due to the Covid-19 related lockdown, said Nomura. While it expects turbulent times for Kansai Nerolac in the near term, the brokerage believes the company, with its strong R&D, will launch new products with health-protective features to drive higher-than-industry sales.

For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 1072.72 crore, down -19.03 per cent from last quarter sales of Rs 1324.81 crore and down -11.20 per cent from last year same quarter sales of Rs 1208.03 crore. The company has reported net profit after tax of Rs 65.36 crore in the latest quarter.

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