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Compare Asian Paints with Kansai Nerolac - Equitymaster

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ASIAN PAINTS vs KANSAI NEROLAC - Comparison Results

ASIAN PAINTS     Change

Asian Paints is the leader in the Indian paint industry. Through a 50:50 joint venture with PPG Industries, US, the company also has presence in the automotive paints segment. In FY12, the company announced its plan forming a new 50:50 joint venture ... More

KANSAI NEROLAC 
   Change

Kansai Nerolac Limited (KNL) is the second largest coating company in India and a market leader in the area of industrial coatings. The latter services clients in the automotive, powder, general Industrial and high performance coatings space. KNL is ... More

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Current Valuations

    ASIAN PAINTS KANSAI NEROLAC ASIAN PAINTS/
KANSAI NEROLAC
 
P/E (TTM) x 60.4 48.5 124.7% View Chart
P/BV x 13.8 6.6 208.0% View Chart
Dividend Yield % 0.8 0.6 124.0%  

Financials

 ASIAN PAINTS   KANSAI NEROLAC
EQUITY SHARE DATA
    ASIAN PAINTS
Mar-19
KANSAI NEROLAC
Mar-19
ASIAN PAINTS/
KANSAI NEROLAC
5-Yr Chart
Click to enlarge
High Rs1,508540 279.3%   
Low Rs1,113343 324.4%   
Sales per share (Unadj.) Rs201.6100.7 200.3%  
Earnings per share (Unadj.) Rs23.18.3 277.6%  
Cash flow per share (Unadj.) Rs27.510.3 268.0%  
Dividends per share (Unadj.) Rs10.502.60 403.8%  
Dividend yield (eoy) %0.80.6 136.1%  
Book value per share (Unadj.) Rs99.263.4 156.6%  
Shares outstanding (eoy) m959.20538.90 178.0%   
Bonus/Rights/Conversions ---  
Price / Sales ratio x6.54.4 148.1%   
Avg P/E ratio x56.853.1 106.9%  
P/CF ratio (eoy) x47.642.9 110.7%  
Price / Book Value ratio x13.27.0 189.6%  
Dividend payout %45.531.3 145.5%   
Avg Mkt Cap Rs m1,256,840237,924 528.3%   
No. of employees `0006.53.0 215.4%   
Total wages/salary Rs m12,7002,834 448.1%   
Avg. sales/employee Rs Th29,959.018,099.2 165.5%   
Avg. wages/employee Rs Th1,967.2945.6 208.0%   
Avg. net profit/employee Rs Th3,426.11,493.8 229.4%   
INCOME DATA
Net Sales Rs m193,41554,243 356.6%  
Other income Rs m2,271605 375.2%   
Total revenues Rs m195,68654,848 356.8%   
Gross profit Rs m35,2457,526 468.3%  
Depreciation Rs m4,3071,063 405.1%   
Interest Rs m510100 510.0%   
Profit before tax Rs m32,6996,968 469.3%   
Minority Interest Rs m4080-   
Prior Period Items Rs m00-   
Extraordinary Inc (Exp) Rs m00-   
Tax Rs m10,9882,491 441.1%   
Profit after tax Rs m22,1194,477 494.1%  
Gross profit margin %18.213.9 131.3%  
Effective tax rate %33.635.7 94.0%   
Net profit margin %11.48.3 138.6%  
BALANCE SHEET DATA
Current assets Rs m76,34123,204 329.0%   
Current liabilities Rs m50,2899,504 529.1%   
Net working cap to sales %13.525.3 53.3%  
Current ratio x1.52.4 62.2%  
Inventory Days Days5975 79.5%  
Debtors Days Days3651 70.8%  
Net fixed assets Rs m60,60917,814 340.2%   
Share capital Rs m959539 178.0%   
"Free" reserves Rs m94,23833,624 280.3%   
Net worth Rs m95,19734,163 278.7%   
Long term debt Rs m19544 447.8%   
Total assets Rs m156,61345,179 346.7%  
Interest coverage x65.170.7 92.1%   
Debt to equity ratio x00 160.7%  
Sales to assets ratio x1.21.2 102.9%   
Return on assets %14.410.1 142.6%  
Return on equity %23.213.1 177.3%  
Return on capital %35.220.7 170.6%  
Exports to sales %00-   
Imports to sales %00-   
Exports (fob) Rs mNANA-   
Imports (cif) Rs mNANA-   
Fx inflow Rs m1,47378 1,879.0%   
Fx outflow Rs m27,57012,104 227.8%   
Net fx Rs m-26,097-12,025 217.0%   
CASH FLOW
From Operations Rs m22,143999 2,216.0%  
From Investments Rs m-9,237885 -1,044.3%  
From Financial Activity Rs m-8,830-2,229 396.1%  
Net Cashflow Rs m4,343-345 -1,258.1%  

Share Holding

Indian Promoters % 52.8 0.0 -  
Foreign collaborators % 0.0 69.3 -  
Indian inst/Mut Fund % 8.8 6.0 146.7%  
FIIs % 18.1 9.7 186.6%  
ADR/GDR % 0.0 0.0 -  
Free float % 20.3 15.0 135.3%  
Shareholders   147,143 16,881 871.6%  
Pledged promoter(s) holding % 13.8 0.0 -  
NM: Not Meaningful
Source: Company Annual Reports, Regulatory Filings, Equitymaster

Compare ASIAN PAINTS With:   BERGER PAINTS  SHALIMAR PAINTS  ASAHI SONGWON  AKZO NOBEL  

Compare ASIAN PAINTS With:   PPG IND. (US)  AKZO NOBEL (Netherland)  



Today's Market

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The stock markets witnessed selling pressure in the week gone by. Market participants remained cautious tracking tepid quarterly earnings amid weak cues.

Related Views on News

ASIAN PAINTS 2018-19 Annual Report Analysis (Annual Result Update)

May 30, 2019 | Updated on May 30, 2019

Here's an analysis of the annual report of ASIAN PAINTS for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of ASIAN PAINTS. Also includes updates on the valuation of ASIAN PAINTS.

KANSAI NEROLAC 2018-19 Annual Report Analysis (Annual Result Update)

May 30, 2019 | Updated on May 30, 2019

Here's an analysis of the annual report of KANSAI NEROLAC for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of KANSAI NEROLAC. Also includes updates on the valuation of KANSAI NEROLAC.

ASIAN PAINTS Announces Quarterly Results (4QFY19); Net Profit Down 1.9% (Quarterly Result Update)

May 10, 2019 | Updated on May 10, 2019

For the quarter ended March 2019, ASIAN PAINTS has posted a net profit of Rs 5 bn (down 1.9% YoY). Sales on the other hand came in at Rs 50 bn (up 11.7% YoY). Read on for a complete analysis of ASIAN PAINTS's quarterly results.

KANSAI NEROLAC Announces Quarterly Results (4QFY19); Net Profit Down 12.3% (Quarterly Result Update)

May 3, 2019 | Updated on May 3, 2019

For the quarter ended March 2019, KANSAI NEROLAC has posted a net profit of Rs 928 m (down 12.3% YoY). Sales on the other hand came in at Rs 11 bn (up 3.5% YoY). Read on for a complete analysis of KANSAI NEROLAC's quarterly results.

KANSAI NEROLAC Announces Quarterly Results (3QFY19); Net Profit Down 9.9% (Quarterly Result Update)

Jan 30, 2019 | Updated on Jan 30, 2019

For the quarter ended December 2018, KANSAI NEROLAC has posted a net profit of Rs 1 bn (down 9.9% YoY). Sales on the other hand came in at Rs 13 bn (up 17.3% YoY). Read on for a complete analysis of KANSAI NEROLAC's quarterly results.

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