Kansai Nerolac Paints to offload stake in subsidiary

12 Dec 2025 , 02:05 PM

Kansai Nerolac Paints announced in its exchange filing that it has approved the sale of its complete 60% holding in Sri Lankan arm, Kansai Paints Lanka (Private) Ltd. The company said that it will sell-off the stake to Atire (Private) Limited, a Sri Lanka–based entity.

Following this development, the company’s counter gained as much as 1%.

At around 1.52 PM, Kansai Nerolac was trading 0.12% higher at ₹223.64, against the previous close of ₹223.26 on NSE. The counter touched an intraday high and low of ₹224.89, and ₹222.11, respectively.

The company said that the sale will take place through a formal agreement. After completion of this stake, the Sri Lankan subsidiary will cease to be a subsidiary of the company. 

The company also mentioned in its filing with the bourses that Kansai Paints Lanka is not a material subsidiary of the company.

In its results for the quarter ended September 2025, the business posted consolidated net sales of ₹1,954.18 Crore. In the previous corresponding period, the company logged net sales of ₹1,951.37 Crore. The company’s net profit for the quarter jumped as much as 9.90% on a year-on-year basis to ₹134.93 Crore. EBITDA for the quarter also jumped marginally by 2.10% to ₹243.69 Crore.

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