Kansai Nerolac Paints plans to set up manufacturing plant in Gujarat

Kansai Nerolac Paints Ltd, the second largest paints company in India and a market leader in industrial coatings, is planning to set up a paint facility in Gujarat with an investment of Rs 350 crores. The company has five units all over India and a strong dealer network across the country.  
 
“The board of directors of the company at its meeting held on May 8, 2015, has approved setting up of a paint manufacturing unit at Sayakha Industrial Estate in Gujarat having capacity of 42000 metric tonne per year, which is expandable in phases, at an estimated cost of Rs 350 crores,” said Kansai Nerolac in a BSE filing.
 
At present, Kansai Nerolac Paints has five strategically located paint manufacturing plants in India at Jainpur (Uttar Pradesh), Bawal (Haryana), Lote, Chiplun (Maharastra), Chennai (Tamil Nadu) and Hosur (Tamil Nadu).
 
Meanwhile, Kansai Nerolac Paints has reported 34.6% hike in its net profit to Rs 60.37 crore and 7.68% growth in total income from operations (net) to Rs 807.84 crore in Q4 March 2015 over Q4 March 2014. Similarly, the company’s net profit rose 31.5% to Rs 271.67 crore on 12.3% increase in net sales to Rs 3532.41 crore in the year ended March 2015 over the year ended March 2014.