Kansai Nerolac Paints Ltd.

Financial

	Kansai Nerolac Paint	Akzo Nobel India	Indigo Paints
Operational Metrics
Chemical Sector
Volume growth - Industrial Paints	n/a	n/a	n/a
Realization/Litre - Industrial Paints	n/a	n/a	n/a
Paints & Coatings Sector
Capacity Utilization - Paints & Coatings	60.0 %	n/a	n/a
Volume Growth - Paints	12.0 %	n/a	13.8 %
Financials
5 yr Average ROE	13.46 %	23.17 %	15.42 %
5yr average Equity Multiplier	1.35	3.25	1.4
5yr Average Asset Turnover Ratio	1.07	0.76	1.01
5yr Avg Net Profit Margin	9.48 %	9.26 %	10.95 %
Price to Book	3.81	11.21	5.26
P/E	18.68	37.19	35.62
5yr Avg Cash Conversion Cycle	44.12 Days	-39.67 Days	-32.03 Days
Inventory Days	70.05 Days	61.55 Days	40.17 Days
Days Receivable	53.62 Days	51.95 Days	48.9 Days
Days Payable	84.96 Days	155.18 Days	167.49 Days
5yr Average Interest Coverage Ratio	31.78	34.05	66.41
5yr Avg ROCE	15.12 %	13.56 %	19.07 %
5yr Avg Operating Profit Margin	13.29 %	14.34 %	16.72 %
5 yr average Debt to Equity	0.04	0.0	0.0
5yr CAGR Net Profit	17.87 %	12.44 %	n/a
5yr Average Return on Assets	10.01 %	7.05 %	11.06 %
Shareholdings
Promoter Holding	74.98 %	74.76 %	53.92 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.01 %	0.0	-0.08 %
Change in Mutual Fund Holding (3 Yrs)	-4.72 %	0.57 %	15.05 %

Business

	Kansai Nerolac Paint	Akzo Nobel India	Indigo Paints
Product Wise Break-Up	Product Wise Break-Up Decorative segment 55.0 Industrial & Commercial 45.0 Automotive segment 0 Coatings 0 Primers, Distempers and Others 0 Enamels and Wood Coatings 0 Emulsions 0 Cement Paints and Putty 0	Product Wise Break-Up Coatings 100.0 Emulsions 0 Enamels and Wood Coatings 0 Cement Paints and Putty 0 Industrial & Commercial 0 Primers, Distempers and Others 0 Decorative segment 0 Automotive segment 0	Product Wise Break-Up Coatings 0 Exterior & Interior Emulsions 45.0 Enamels 18.0 Paints & Coatings 15.0 Industrial & Commercial 0 Distempers 22.0 Decorative segment 0 Automotive segment 0
Segment Break-Up	Segment Break-Up Paints 100.0	-	-
Location Wise Break-Up	Location Wise Break-Up India 96.03 Asia Pacific 3.97 Rest of the World 0 Domestic 0	Location Wise Break-Up Rest of the World 5.26 Domestic 0 India 94.74 Asia Pacific 0	Location Wise Break-Up Rest of the World 0 Domestic 99.76 India 0 Asia Pacific 0 Others 0.24
Raw Material Break-Up	Raw Material Break-Up Pigments, Extenders and Resins 62.71 Solvents and Fatty Acids 31.43 Organic Acids 5.85 Others 0.01	-	-