Kansai Nerolac Paints earnings calls.

Kansai Nerolac reported muted 3.5% standalone revenue growthCurrent reported value: 3.5% standalone revenue growth. No comparable prior figure is available in the source record. in Q3 FY26 with PBDIT up 2%Current reported value: PBDIT up 2%. No comparable prior figure is available in the source record. but PBT before exceptional items down 3.7%Current reported value: PBT before exceptional items down 3.7%. No comparable prior figure is available in the source record.. Decorative segment remained under pressure—marginally negative to flat due to shortened festive season (early Diwali) and intense competition—while industrial/automotive delivered robust double-digit growth driven by GST 2.0 stimulus. Management maintained EBITDA margin guidance of 13-14%Current reported value: EBITDA margin guidance of 13-14%. No comparable prior figure is available in the source record. while investing heavily in distribution (3,500Current 3,500. Reported change: +3,500 dealers YoY. new dealers added, 600+Current 600+. Reported change: Steady expansion. specialty stores) and CCD machine deployment at ~85%Current ~85%. Reported change: Approaching full target.. Paint Plus premium products now contribute over 10%Current 10%. Reported change: Growing share of decorative. to decorative revenue. Recovery signs emerged in November-December with management targeting mid-single-digit Q4 decorative growth. Key risks include persistent competitive intensity, competitor EMI schemes targeting dealer financing, Bangladesh operations under stress, and raw material cost pressures amid rupee depreciation. The structural long-term growth runway remains intact given India's per capita paint consumption is one-third of global average.