375% Dividend: Buy Paint Stock For TP Rs 395, Shares To Go Ex-Date Soon: Analyst

Kansai Nerolac shares are all set to trade ex-dividend on June 21 for special dividend of Rs 1.25/ share and final dividend of Rs 2.50 per share. Last trading price of Kansai Nerolac share on BSE is Rs 282.90 apiece. Kansai Nerolac has a market capitalisation of Rs 22,869.06 crore. Kansai Nerolac shares zoomed over 5% in last 2-weeks and declined nearly 5% in last 1-year. Brokerage firm Religare Broking has recommended buy call to Kansai Nerolac shares after it declared Q4 results with target price of Rs 395 per share. Kansai Nerolac declared 3 bonus issues so far since 2003. Check key details below:

Kansai Nerolac To Trade Ex-Dividend Soon: As per the regulatory filing of Kansai Nerolac issued as on May 4, 2024, "The Board has recommended dividend of 375% (Rs. 3.75 per share) which includes special dividend of 125% (Rs. 1.25 per share) for the financial year ended 31st March, 2024, as compared to the dividend of 270% (Rs. 2.70 per share) paid for the financial year ended 31st March, 2023. Dividend, when declared, will be payable on or after Wednesday, 3rd July, 2024 to those Members whose names are registered in the Register of Members of the Company as on Friday, 21st June, 2024 and to the Beneficiary holders as per the beneficiary list as on Friday, 21st June, 2024 provided by National Securities Depository Limited and Central Depository Services (India) Limited."

Kansai Nerolac Q4: The company declared a surge of 18.76% in its net consolidated profit for the quarter ended March 31, 2024. The company announced its profit after tax (PAT) at Rs 114.29 crroe for Q4 FY 2024 as compared to Rs 96.24 crore declared in the corresponding quarter of last year, as per the BSE filing of the company. Its net consolidated total income declared at Rs 1801.92 crore for Q4 fy2024, up 3.36% from Rs 1743.29 crore declared in the same quarter of last year.

Religare Broking On Kansai Nerolac: According to the analysts, "Kansai Nerolac posted mixed numbers for the quarter however they expect medium to long term growth to improve largely post elections driven by demand for both decorative and industrial segments, continuous innovation of products and categories and also their focus on gearing up distribution channels as well as increasing presence in South India. Cost fluctuation will be key monitorable, while management expects steady volume and margins for the near future."

Kansai Nerolac Share Performance: The 52-week high price of Kansai Nerolac share on BSE is Rs 355.00 per share (as on 27/12/2023) and 52-week low price is Rs 252.20 per share (as on 04/06/2024), respectively. Kansai Nerolac shares gave return of over 5% in last 3-months, fell 13% in last 6-months, gained 7% in last 2-years, and slipped 26% in last 3-years.

Kansai Nerolac Paints Bonus Shares History: Kansai Nerolac Paints announced 3 bonus issues since August 13, 2004. The last Bonus that Kansai Nerolac Paints announced was in the ratio 1:2 with ex-date as July 4, 2023. Earlier, it declared bonus issue in 1:1 proportion in 2010 and in the ratio of 2:3 in 2004.

Kansai Nerolac Stock Split History: Kansai Nerolac Paints sub-dividend the face value of its share once since March 26, 2015. Kansai Nerolac Paints last split the face value of its shares from Rs 10 to Re 1 in 2015. Kansai Nerolac traded ex-split from March 26, 2015.

Kansai Nerolac About: Kansai Nerolac is the second largest coating company in India and a market leader in Industrial Coatings. In 1920, Gahagan Paints and Varnish came into being at Lower Parel in Mumbai. A century later, this paint company continues to be in an enviable position- that of being the second largest paint company in India and one of the most trusted names in the industry, as per its official website.

Disclaimer:

The stock has been picked from the brokerage report of Religare. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.