KANSAINER

** Indian paint makers Asian Paints ASPN.NS, Berger Paints India BRGR.NS, Akzo Nobel India AKZO.NS and Kansai Nerolac KANE.NS climb between 1% and 2%

** Brent crude futures LCOc1 fell to their lowest since December 2021 in previous session before steadying on Thursday, still trading near multi-year low levels O/R

** Fall in oil prices benefits paint makers, who count crude as a major raw material

** Both ASPN and KANE gain ~2%, while BRGR and AKZO climb 1.3% and 1.2%, respectively

** AKZO only major paint maker rated "buy" on avg, rest rated "hold" - data compiled by LSEG

** KANE's 12% YTD drop biggest, followed by AKZO's 11% slide and ASPN's 4% decline

** BRGR only major paint maker to log YTD gains, up 9.3%

(Reporting by Kashish Tandon in Bengaluru)

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Rewrites with management commentary from post-earnings call

By Hritam Mukherjee

Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.

Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.

However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.

Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.

Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.

While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.

Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

(([email protected]; Twitter: @MukherjeeHritam;))

** Shares of Indian paintmaker Kansai Nerolac KANE.NS rise 3.3% to 253 rupees

** Co said it expects paints demand to improve going forward on federal budget's consumption-boosting proposals

** Outlook comes at a time when decorative paints demand for listed players have been under pressure from consumers cutting back on optional spends and shifting to cheaper labels

** On a standalone basis, results were better-than-expected, says Investec; recommends "hold" rating on the stock and PT 290 rupees

** KANE, on an avg, rated "hold" with median TP 295 rupees - LSEG

** Q3 was third consecutive qtr of co's rev outperformance vs market leader Asian Paints ASPN.NS, Investec adds

** YTD ASPN flat, KANE down 4%

(Reporting by Hritam Mukherjee in Bengaluru)

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Feb 5 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS Q3 CONSOL NET PROFIT 6.81 BILLION RUPEES; IBES EST. 1.4 BILLION RUPEES

• KANSAI NEROLAC PAINTS Q3 CONSOL REVENUE FROM OPERATIONS 19.22 BILLION RUPEES; IBES EST. 19.23 BILLION RUPEES

• KANSAI NEROLAC PAINTS - Q3 RESULTS HAVE ONE TIME GAIN OF 6.3 BILLION RUPEES

• KANSAI NEROLAC PAINTS - PRAVIN D. CHAUDHARI APPOINTED AS MANAGING DIRECTOR, FOR 3 YEARS

Source text: [ID:]

Further company coverage: KANE.NS

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** Shares of Asian Paints ASPN.NS fall 0.7% ahead of Q3 results due later in the day; benchmark Nifty 50 .NSEI up 0.9%

** Analysts, on avg, expect the paintmaker to report a ~21% y/y fall in Q3 consol profit to 11.42 bln rupees ($131.3 mln), per data compiled by LSEG

** At least three brokerages said demand slowdown in the industry persisted in Q3, after weak growth in H1, due to increased competition, lower volumes and pricing pressures

** ASPN first to report Q3 results among major Indian paint companies

** Analysts on avg rate ASPN "hold", same as peers Berger Paints BRGR.NS and Kansai Nerolac KANE.NS -LSEG data

** YTD ASPN, BRGR up 0.5% and ~8%, while KANE down ~7.5%

** ASPN's fwd 12-month PE is 45x, 11th highest on Nifty 50 and just higher than BRGR's 44x; KANE's PE is 27x -LSEG

($1 = 86.9720 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Asian Paints ASPN.NS slid ~11% for the week, set for their worst weekly performance since Feb. 2022

** Paint maker's stock drops in 3 out of 4 sessions this week, set for seventh straight week of decline; Indian markets will be closed on Friday for a local holiday

** ASPN slumped to an over four-year low on Monday after its Q2 profit missed estimates, as price cuts and floods in some parts of India dragged down sales volumes

** At least 26 analysts slashed PT on ASPN after results; median PT at 2,550 rupees vs 2,819 rupees last month- LSEG data

** Avg rating on ASPN, rivals Berger Paints BRGR.NS and Kansai Nerolac KANE.NS at "hold" - LSEG data

** All three paint makers log YTD losses, with ASPN's falling 27%, KANE dropping 21% and BRGR declining 19%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Nov 11 (Reuters) - India's Asian Paints ASPN.NS fell as much as 9.3% on Monday, after it reported a second-quarter net profit on Saturday that nearly halved and a volume growth that disappointed some analysts.

The second-quarter results were a miss with sales below industry peers, said Macquarie.

The company's sales volumes, which declined 0.5%, were weaker than that of other large peers such as Berger Paints' BRGR.NS 3.6% rise and Kansai Nerolac's KANE.NS 4% overall volume growth, said Morgan Stanley.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; X: @MukherjeeHritam;))

** Shares of Kansai Nerolac Paints Ltd KANE.NS fall as much as 2.3% to 279.20 rupees

** The paint manufacturer reported a ~31% fall in Q2 consol net profit to 1.23 bln rupees, weighed down by muted demand due to heavy monsoons and high expenses

** Rev up 0.3% at 19.51 bln rupees

** More than 311,000 shares traded, vs their 30-day moving avg of 504,272 shares

** Mean rating of 16 analysts rating the stock is "hold"; their median PT is 320 rupees - LSEG data

** KANE stock down 15.7% YTD, including session's losses

(Reporting by Meenakshi Maidas in Bengaluru)

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Nov 6 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• Q2 CONSOL NET PROFIT 1.23 BILLION RUPEES; IBES EST. 1.84 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 19.51 BILLION RUPEES; IBES EST. 19.53 BILLION RUPEES

Source text: [ID:]

Further company coverage: KANE.NS

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** Shares of paint makers - Asian Paints ASPN.NS, Kansai Nerolac KANE.NS, and Berger Paints India BRGR.NS rise between 1%-2.2%

** Oil prices slid 3% after a report said Israel is not willing to strike Iranian oil targets, easing fears of a supply disruption O/R

** Fall in oil prices benefits paint makers, who count crude as a major raw material, as it will bring down total costs

** Shares of ASPN up 1.3% and is among top gainers on the Nifty 50 index .NSEI, which is up 0.22%

** ASPN down ~10% so far this year vs a 12% and 4% fall in KANE and BRGR, respectively

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Asian Paints ASPN.NS and Berger Paints India BRGR.NS drop 4% each

** Smaller firms Kansai Nerolac KANE.NS and Akzo Nobel India AKZO.NS decline 2% and 2.6%, respectively

** Oil prices rise on prospect of a widening Middle East conflict that could disrupt oil flow from the region O/R

** Crude prices make up for roughly one-third of paint makers' costs; higher crude prices will spike total costs

** As of Sept-end, ASPN had gained for seven consecutive months, BRGR for four

** ASPN, KANE rated "hold", while BRGR rated "sell" on an average - LSEG data

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Shares of Asian Paints ASPN.NS gain 2.2%, Berger Paints India BRGR.NS rise 2.3%

** Smaller peer Kansai Nerolac KANE.NS up 1%, while Akzo Nobel India AKZO.NS is flat

** Brent crude futures LCOc1 fell below $70 for the first time in three years before recovering to $70.3 levels O/R

** Crude prices make up for roughly one-third of paintmakers' spends; dip in crude will pull down total costs

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Kansai Nerolac Paints KANE.NS shares up 3%, set for best day in three weeks

** Kansai Nerolac, a unit of Japan's Kansai Paint 4613.T, reports 4% rise on adjusted Q1 profit, helped by price hikes

** Other paint companies -- Shalimar Paints SHLP.NS, Asian Paints ASPN.NS, Berger Paints BRGR.NS Akzo Nobel India AKZO.NS -- also gain 1%-2.5%

** KANE rated 'hold' on avg, as is ASPN and AKZO, while BRGR rated 'sell' (SHLP not covered) -LSEG data

** KANE down 12.5% YTD, with only SHLP worse off (down 17%), while ASPN down 11.5% and BRGR 10%; AKZO lone gainer, up 14%

** KANE's fwd 12-month PW of 30.2 is lowest, just under AKZO's 30.4, while BRGR at ~50 and ASPN at 54.4 -LSEG data

(Reporting by Sethuraman NR in Bengaluru)

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July 29 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS Q1 CONSOL NET PROFIT 2.31 BILLION RUPEES

• KANSAI NEROLAC PAINTS Q1 CONSOL REVENUE FROM OPERATIONS 21.33 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: KANE.NS

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** Shares of Asian Paints ASPN.NS up 2.2% on track for its best day in a month

** Stock is top pct gainer on Nifty 50 .NSEI which is down 0.9%

** Co hiked prices of its products across its portfolio by 0.7%-1% to offset rising input costs, CNBC-TV18 reports

** ASPN did not immediately respond to Reuters' request for comment

** Peers Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Berger Paints BRGR.NS up between 1.2% and 3.9%; Akzo Nobel India AKZO.NS down 0.1%

** Analysts on avg have a 'hold' rating on Asian Paints, Nerolac, Akzo Nobel and Indigo Paints INDG.NS; Berger rated 'sell' -LSEG data

** Nerolac's 17% slide YTD is most, followed by Berger (14%), Asian Paints (13%) and Indigo Paints (3.7%)

** AKZO only paint-maker to post YTD growth, up ~11%

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

May 14 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• CGST ORDER RECEIVED SHOWING DEMAND ON ACCOUNT OF ALLEGED SHORT PAYMENT OF GST

• CO PAID ADEQUATE AND APPROPRIATE TAXES, AS REQUIRED

• HAS RELEVANT RECORDS TO PROVE ITS CLAIMS AND IN PROCESS OF FILING APPLICATION FOR RECTIFICATION OF ORDER

Source text for Eikon: ID:nBSE8lwtff

Further company coverage: KANE.NS

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** Asian Paints ASPN.NS edges 0.2% lower ahead of Q4 report

** Analysts expect ASPN to report 9.6% increase in Q4 profit, 3.8% rise in revenue -LSEG data

** Ambit Capital expects vol growth to slow to 6% from 14% year-ago on soft demand but expects price cuts to generate effective rev growth

** Jefferies sees gross margins to be flattish q-o-q, but expanding y-o-y on lower raw material prices

** Centrum says post-festival season demand remains sluggish yet picked up in Feb/March on demand for exterior paints, launch of new products, strong traction in damp-proof segment

** Analysts' avg rating on ASPN is "hold" -LSEG data

** Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Akzo Nobel AKZO.NS also 'hold's; Berger Paints BRGR.NS a 'sell'

** ASPN down 16.5% YTD vs Nifty 50's .NSEI 2.4% rise

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

BENGALURU, May 4 (Reuters) - India's Kansai Nerolac Paints KANE.NS reported a higher profit for the fifth straight quarter on Saturday, aided by sustained demand from decorative and industrial coatings.

WHY IT'S IMPORTANT

Growing activity in India's real estate sector has stoked demand for decorative home paints and benefited companies including Kansai Nerolac.

Prices of crude - which accounts for roughly one-third of paintmakers' costs - have eased from their 2022-highs, but were still higher year-on-year during the January-March period.

The entry of Grasim Industries GRAS.NS into the sector will intensify competition in an already crowded industry, dominated by market leader Asian Paints ASPN.NS, analysts have said.

BY THE NUMBERS

Japan's Kansai Paint Co 4613.T-owned firm's consolidated net profit rose about 24% year-on-year to 1.16 billion rupees ($13.9 million) in the quarter ended March.

Revenues at India's third-largest paintmaker by market capitalisation rose over 2% to 17.69 billion rupees, while a rise in input costs helped total expenses tick 1.7% higher.

KEY QUOTES

"The demand for industrial coatings though good, moderated from previous quarter. Decorative once again recorded double digit volume growth," said Managing Director Anuj Jain.

"Going forward, the forecast of a good monsoon should augur well for paint industry," he added.

($1 = 83.3760 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected]; X: @MukherjeeHritam;))

April 30 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• ENTERED IN AGREEMENT FOR SALE WITH BOMBAY ZOROASTRIAN JASHAN COMMITTEE FOR PURCHASE OF REVISIONARY RIGHTS OF LAND PARCEL

• DEAL FOR 480 MILLION RUPEES

Source text for Eikon: ID:nBSE1nH0qQ

Further company coverage: KANE.NS

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** Analysts at Morgan Stanley say paints business launched by Grasim Industries GRAS.NS in Feb will have 5-6% cheaper product pricing than Asian Paints ASPN.NS, which currently controls nearly half of India's paints market

** With Grasim's entry into the paints business, dealers indicate ASPN has intensified servicing - MS note

** Separately, demand trends for paint companies is similar across urban and rural dealers in Q4; better demand seen in southern markets - brokerage

** Adds 3-5% price cuts have been taken across brands and products in Q4

** GRAS has gained 4.5% so far this year while ASPN is down ~16% YTD

** Peers Kansai Nerolac Paints KANE.NS, Berger Paints India BRGR.NS and Indigo Paints INDG.NS have lost ~19%, ~7% and 11%, respectively, YTD

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

** Macquarie expects limited impact from Grasim Industries' GRAS.NS expansion into paints sector on Asian Paints' APSN.NS earnings

** Lists ASPN and Kansai Nerolac Paints KANE.NS as preferred picks in sector

** While investors worry about likely impact due to GRAS's entry, Macquarie positive on segment in general and ASPN in particular

** Grasim's entry is not an attack on industry profitability like how Jio's entry impacted telecom - Macquarie

** Says smaller players could be impacted due to rising cost of capital and Grasim's free-tinting machine scheme, sees no major adverse impact on ASPN due to its high scale

** Cuts FY25/26 EPS by 6% for Berger Paints BRGR.NS, 9% for KANE; lowers BRGR's TP to 490 rupees from 520 rupees, trims KANE's TP to 320 rupees from 360 rupees

** Analyst recommendation on ASPN, KANE is "hold", while BRGR has "sell" - LSEG data

** BRGR, ASPN, KANE down 6%-19% YTD, while GRAS up 2.4%

** Since Feb. 21, when GRAS announced paints foray, GRAS has declined 0.5% while ASPN shed 4.2% - LSEG

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** Shares of Asian Paints ASPN.NS up 2.4% at 2,894 rupees

** Rise after ASPN says unit entered into agreements with Gujarat Chemical Port to set up ethylene storage and handling facility in Dahej, Gujarat

** Stock set to rise for the week, if gains hold, after two straight weekly losses

** Avg analyst rating on ASPN, Kansai Nerolac KANE.NS, Indigo Paints INDG.NS and Akzo Nobel India AKZO.NS is 'hold', while Berger Paints BRGR.NS is rated 'sell' - LSEG data

** ASPN down 15.4% YTD vs Nifty 50 .NSEI index's 3.5% rise

** BRGR, AKZO, INDG and KANE declined between 4% and 15% YTD

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

BENGALURU, Feb 22 (Reuters) - Grasim Industries GRAS.NS launched its paints business under the 'Birla Opus' brand on Thursday, and said it expects the unit to generate 100 billion rupees ($1.21 billion) in gross revenue in three years.

The Aditya Birla Group company had raised money twice in calendar 2023 to fund the paints venture. The forecast implies it expects to recoup its investment in the form of revenue by 2027.

The paints business, which adds to Grasim's flagship businesses of textiles and chemicals, could make the company the second-largest Indian paintmaker by capacity behind market leader Asian Paints ASPN.NS, according to analysts.

Asian Paints currently controls nearly half of India's paints market. It recorded a revenue of 90.75 billion rupees in the quarter ended Dec. 31.

Kansai Nerolac KANE.NS, Berger Paints BRGR.NS, Indigo Paints INDG.NS and Dulux paint-maker Akzo Nobel India AKZO.NS are the other major players.

Antu Thomas, research analyst at Geojit Financial Services, said Birla Opus could take as much as 1%-2% in market share from Asian Paints.

Jefferies added that the business would account for nearly half of the 25% capacity addition expected in the industry over fiscal 2024-2027.

"The paint sector has never seen such massive capacity build-out in such a short span even from incumbents," Jefferies analysts said in a note.

Products and services from the business, announced three years ago, will be available in three Indian states from mid-March, Grasim said.

($1 = 82.8670 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman )

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** Shares of Kansai Nerolac KANE.NS rise as much as 3.7% to 353 rupees, highest level since Dec. 27

** Paintmaker's Q3 consol profit rose ~39% YoY

** Rival Asian Paints ASPN.NS topped Q3 profit view last month; other major listed paint cos yet to report

** KANE had surged on Dec. 27 on $87 mln land parcel sale

** Analysts' avg rating on KANE, peers at "hold"; Berger Paints BRGR.NS only sell-rated stock among major paint companies - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Indian paint maker Asian Paints ASPN.NS down 0.5% to 3,282.05 rupees ahead of Q3 results

** Benchmark Nifty 50 index .NSEI, which ASPN is a part of, sheds 1.2%

** Analysts, on avg, expect ASPN's profit to rise ~31% and rev to grow ~8%, per LSEG, vs 54% rise in Q2 profit and 0.3% rev growth

** Contrary to expectations of a recovery during the festival and marriage seasons, demand for paints remained weak in Q3 - Elara Capital

** Gross margins to expand 50 bps QoQ and sharply YoY in Q3 on softer raw material costs, driving 40% EBITDA growth - Jefferies

** ASPN first to report Q3 results among major Indian paint companies

** Analysts' avg rating on ASPN, peers Kansai Nerolac KANE.NS and Indigo Paints INDG.NS at "hold"; Berger Paints BRGR.NS only sell-rated stock among major paint companies

** ASPN's 10% rise in 2023 lowest among Indian paint stocks; BRGR's ~25% climb the highest

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Kansai Nerolac KANE.NS rise ~10% to a 52-week high of 357.30 rupees in heavy volume

** Paint maker to sell land parcel in Mumbai for 7.26 bln rupees ($87 mln)

** Stock last up ~5%, on track for best day since Aug 2022

** Over 2.5 mln shares traded in stock's busiest day since early Aug this year, when it reported huge jump in Q1 profit

** KANE only "buy"-rated stock among major paint stocks in India - LSEG data

** Among paint stocks, only Berger Paints India BRGR.NS has risen more than Nerolac's 17% in 2023

($1 = 83.2350 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Dec 26 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• ENTERING INTO AN AGREEMENT FOR SALE WITH AETHON DEVELOPERS PRIVATE LIMITED

• CONSIDERATION OF 7.26 BILLION RUPEES

• AGREEMENT FOR SALE OF COMPANY'S LAND PARCEL AT LOWER PAREL TOGETHER WITH BUILDING THEREON

Source text for Eikon: ID:nBSE2gRz0x

Further company coverage: KANE.NS

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** Shares of paint makers Asian Paints ASPN.NS, Berger Paints BRGR.NS, Kansai Nerolac KANE.NS, and Indigo Paints INDG.NS up between 1.5% and 4%

** Crude oil prices fell 5% on Thursday to four-month low; oil prices on track for fourth straight week of decline

** Crude oil accounts for about 30% of paint cos' raw material costs

** ASPN and KANE on track to rise for third and fifth straight sessions respectively, if trend holds

** ASPN, BRGR, KANE, and INDG all up between 4% and 21.2% YTD

(Reporting by Varun Vyas in Bengaluru)

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Nov 1 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• INDIA'S KANSAI NEROLAC PAINTS SEPT-QUARTER CONSOL NET PROFIT 1.77 BILLION RUPEES VERSUS PROFIT 1.14 BILLION RUPEES

• KANSAI NEROLAC PAINTS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 19.57 BILLION RUPEES VERSUS 19.31 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: KANE.NS

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** Shares of Indian paintmakers Kansai Nerolac KANE.NS, Asian Paints ASPN.NS, Indigo Paints INDG.NS, Berger Paints BRGR.NS and Akzo Nobel AKZO.NS fall between 1% to 4.1% on Thursday

** Oil prices surged 3% on Wednesday to a 2023-high after a steep drop in U.S. crude stocks compounded supply worries

** Higher oil prices hurt paint producing companies as oil is a major raw material

** Shares of ASPN fell as much as 4.2%, while BRGR dropped 3.6%

(Reporting by Ashna Teresa Britto in Bengaluru)

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