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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Q2 - Investor Presentation 5th November 2026 Page 2 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. This presentation may contain statements which reflect management’s current views and estimates and could be construed as forward making statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments Disclaimer Investor Presentation 5th Nov’26 [(KANSAI PAINT NEROLAC Page 3 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. AGENDA 4. Industrial Update 5. Financial Performance 6. Risk and Outlook 3. Decorative Update 2. Business Environment1. Nerolac Story Investor Presentation 5th Nov’26 ~ KANSAI • PAINT Page 4 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. NEROLAC STORY Investor Presentation 5th Nov’26 Page 5 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Purpose: Create environments for a healthy and beautiful future Vision: We design solutions that protect, inspire and touch lives everyday ESG: Water Positive, Emission reduction, Green energy CC Tile EV Underbody, Alloy Wheel BRIDGE METRO HELMET TWO WHEELERCARREFRIGERATORWASHING MACHINEMICROWAVEHAIR CLIP ARTIFICIAL JEWELLERY EXTERIOR WALL FAN INTERIOR WALL WOODAC TOWEL METAL Investor Presentation 5th Nov’26 [(KANSAI PAINT NEROLAC Page 6 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. We Are A Powerhouse Of Paint 2nd Strongest Consumer Paint Brand Expertise and Legacy THE NEROLAC JINGLE Ranked in No.2 among paint brand （Brand equity index) R&D • State of the art R&D center • Technological Tie Ups • Innovative technologies • Cutting-edge Solutions JAPANESE TECHNOLOGY LEADERS IN INDUSTRIAL PAINT+ PRODUCTS IN DECORATIVE Innovator’s Spirit Brand Nerolac “Emotional Connect builds long-term equity” CORE VALUES Integrity Accountability Respect Entrepreneurial Mindset InnovationCustomer Focus Investor Presentation 5th Nov’26 [(KANSAI PAINT * • • + * • • i care ! * • • 0 • • NEROLAC -~ Page 7 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Employee Value Proposition WHERE YOUR PASSION TAKES COLOUR This year, we introduced our Employee Value Proposition, ‘Where Your Passion Takes Colour’ reflecting our belief that the passion of our workforce is central to everything we do. Through this proposition, we aim to foster a positive environment that encourages growth, ownership, continuous learning and open communication across the organisation. Investor Presentation 5th Nov’26 [(KANSAI PAINT 0 Where your passion takes colour NEROLAC Page 8 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. BUSINESS ENVIRONMENT Investor Presentation 5th Nov’26 Page 9 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Business Environment Investor Presentation 5th Nov’26 [(KANSAI PAINT NEROLAC Elevated, volatile crude oil price Rupee depreciation Geopolitical Challenges Volatile crude prices impacting input costs Rupee depreciation putting pressure on margins Global uncertainties creating market volatility Good demand in Automotive Healthy demand momentum in automot ive segment Continued government emphasis on infrastructure growth Page 10 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. DECORATIVE UPDATE Investor Presentation 5th Nov’26 Page 11 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. 10 Investor Presentation 5th Nov’26 Decorative Strategy [(KANSAI PAINT • NEW PRODUCTS Innovative, differentiated and consumer-relevant solutions PROJECT BUSINESS (828) Expand presence in institutional and project segments • Construction Chemicals ·• Waterproofing • • Wood Finish • Leverage adjacent opportunities for growth • • NEROLAC BRANDING & MEDIA SPEND Stronger brand presence to drive preference and market leadership INFLUENCER PROGRAM Engage and empower influencers to drive consideration and sales NETWORK EXPANSION • Focus Geography • New Market Penetration Strengthen distribution reach in high-potential markets Page 12 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Decorative Highlights Investor Presentation 5th Nov’26 Retail Project/ Institutional Business Network Expansion NXTGEN & AID Services is aiding the Primary business with Mid to high single digit contribution of Decorative Business Paas: Present in 250+ cities AID: Present in 45+ cities Pragati: 90K+ Painter participation Increase Geographical Reach 80+ Cities Build pipeline of Project sites Separate range of Products – Super Series 3000+ Dealers added to the network YTD Sep Distribution Network > High Double-Digit Growth > Distribution expansion in low presence towns Double Digit Growth [(KANSAI PAINT (o (o 0 G ) ) .. . . . . I [• [e [e re NEROLAC ] ] r ] 0 l Page 13 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. CONSTRUCTION CHEMICAL, WATER PROOFING & WOOD FINISH Investor Presentation 5th Nov’26 CONSTRUCTION CHEMICAL & WATER PROOFING > Double Digit Growth witnessed > Explore & execute international collaborations for launching technology backed solutions > Focus Market and Focus Product approach APPLICATIONS Water-proofing Tile Adhesives Admixture PREMIUM WOOD FINISH > Overall wood-finish grew at healthy pace > Focus on Weighted Contractors engagement to drive Primary Growth > Focus Market and Focus Product approach APPLICATIONS Waterborne coating Pigmented Wood system Wood flooring [(KANSAI PAINT NEROLAC Page 14 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. 15 Retail Platform for Customers (Offline) NXTGEN SHOPPE 190+ NXTGEN SHOPPE NEROLAC PAINT ZONESHOP IN SHOP 490+ PAINT ZONE270+ SHOP IN SHOP Investor Presentation 5th Nov’26 [(KANSAI PAINT NEROLAC Page 15 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Product Portfolio NewNew Super Premium Premium Economy Super Premium Premium Economy INTERIOR EMULSION EXTERIOR EMULSION Emulsion Primer New Investor Presentation 5th Nov’26 [(KANSAI PAINT "< NEROLAc ' IMPRESSIONS SHEEN NEROLAC Page 16 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Product Portfolio New Premium Wood Finish Range Waterproofing Perma Tile Adhesive Other Range Popular Wood Finish Range New Investor Presentation 5th Nov’26 [(KANSAI PAINT ~ l_J NEROLAC ~ l_J Page 17 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. New Product Highlight – H1 E X T E R I O R P R E M I U M EXCEL EVERLAST 20 Bulletproof Protection — Industry First India's first exterior paint with a 20-year warranty. Engineered with Bulletproof Nano-Silica technology for superior durability, crack bridging up to 2mm, and weather resistance. Nano-Silica Tech Anti-Algal N-Cap PU-Silicon Chem Crack Bridge 2mm ★ 20 Years Performance Warranty E X T E R I O R E M U L S I O N Rich Sheen. Superior Protection. Lasting Performance. Premium water-based exterior emulsion that protects and beautifies floor tiles and cement surfaces with rich sheen, anti- fungal protection, and superior abrasion resistance. Excellent Adhesion High Abrasion Resistance Non-slip & Anti-Algae Vibrant Sheen Finish W A T E R P R O O F I N G Elastomeric Waterproof Coating High-strength, fibre-reinforced, elastomeric, liquid-applied waterproof coating. It is formulated with resilient acrylic copolymers and reinforcing fibres. Upon curing, it forms a thick, seamless, durable membrane that offers ultimate waterproofing. Upto 10°C Temperature Reduction Excellent Dirt Pick- up Excellent Weather Resistance Low VOC EXCEL TOTAL FLOOR COAT PERMA NODAMP NXT ★ 2 Years Performance Warranty ★ 10 Years Performance Warranty E M U L S I O N P R I M E R NOVA 2 IN 1 ★ Seals dry porous surfaces Investor Presentation 5th Nov’26 Nerolac Nova 2 in 1 Primer is suitable for both Interior as well as Exterior application. It gives good Opacity, Whiteness, Superior adhesion to the top coat and good resistance to chalking. Superior Intercoat Adhesion Good Opacity Good Whiteness Water Thinnable Advanced Bond Technology [(KANSAI PAINT NEROLAC Page 18 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Media Campaign – TNPL Activation (Q2) Madurai Depot: NxtGen Lead Scaleup : Activating targeted digital lead generation via Tamil vernacular ads (Meta & Google). TN Premier League sponsorship – The Madurai Panthers finished as runners-up in the 2026. Principal Sponsor - Madurai Panthers Logo on front Chest LED Perimeter (Home Matches) Toss representative Team Dugout branding Radio Ads Player's Photos for promotion Bus branding Team social media Shout-outs Logo on Team website Branding on Jersey launch Tickets for Home match (5 Home Matchs) Jersey Investor Presentation 5th Nov’26 [(KANSAI PAINT •~ Madurai Depot Activation NxtGen Lead Scale-Up • Activating targeted d igita l lead generation via Tamil vernacular ads (Meta & Google) . TNPL Premier League Sponsorship • Principal Sponsor: Madurai Panthers • The Madurai Panthers finished as runners - up in the 2026 . Key Sponsorship Benefits @j - Jersey Front Logo Radio Ads ~ Runner - Up .1. TNPL 2026 I' 0 1 LEO Perimeter (Home Matches) C®lO X D Team Social Med ia • e • Principal Sponsor ,., Madurai Panthers I 1~----1 Team Dugout Brand ing 00 Logo on Team Website I Multiple I Branding ■ I I Touchpoints NEROLAC Page 19 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Noor - E- Kashmir Investor Presentation 5th Nov’26 [(KANSAI PAINT - TRADITION MEETS TO DAY Time less homes , contemporary exp ression. CAMPAIGN - CELEBRATI NG CRAFTSMANSHIP Honouring local artisans and techniques . P I LLARS - EVERY HO ME A STORY Twe lve unique homes, twelve perspectives. More stories. More homes. More of Kashmir. --------- ♦ ------- A cinematic celebration of Kashmir's peop le, traditions and craftsmanship - brou ght to life through the homes that carry its Noor . More stories . More homes. More of Kas hmi r. The joumey cominues through Kashmir"s homes. people. crafrsmanship and tradition s. e THELIGHT OF KASHMIR Nerolac brings out the true colo urs of the valley. Page 20 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Contractor Outreach Investor Presentation 5th Nov’26 [(KANSAI PAINT Key Points Covered i) Product DBT Impressions Sheen, Excel Everlast. BGW, Impressions Kashmir HS New Products EE20 and BGW+ Medium of Communication e WhatsApp via Official Nerolac Paints Channel Campaign video and scheme details shared directly with painters YouTube Shorts Campaign featuring Shiv Thakare Engaging video to drive awareness and excitement Shared through field sales teams Amplified at the ground level for wider painter outreach Akola , Shiv Thakare Leke Aaya Nerolac Ka Superhit Monsoon Offer! Our very own Marathi Icon, Shiv Thakare ... ~<tilcr<llflic5l ~~~ ~ ~Gl:{ 3TT%" . .. Focus Products No Damp and Impressions Kashmir A Premium Slab Bonanza BGW+ and Excel Sheen Scan Pragati TokensCTA Page 21 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Digital Marketing Investor Presentation 5th Nov’26 [(KANSAI PAINT § nerolocpmnh ~, =- NEROLAC l EXCEL MICA MARBLE BUILT FOR LAST/NC. BE'AUrY NEROLAC Page 22 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. INDUSTRIAL UPDATE Investor Presentation 5th Nov’26 Page 23 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Automotive Business CONTINUE TO EXPAND THE BUSINESS Investor Presentation 5th Nov’26 Strengths/ Uniqueness New Business New Segment > We have access to the latest global technology > Focus on Innovation, creating new and enhancing existing technologies ▪ Water based, High Solids, Low Bake Technology > Introduce paints with Superior and unique functionalities ▪ High durable, superior finish, Corrosion resistance, Workability > Increase presence in identified accounts > Thrust on EVs > Seam sealer & Underbody black > Alloy wheels > PT & Booth chemicals Business Performance Auto segment witnessed robust growth in Passenger Vehicle, 2/3 Wheeler and Commercial Vehiclesegment Focus on Innovation and creating New technologies to increase Total Addressable Market [(KANSAI PAINT NEROLAC Page 24 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Performance Coating Business Investor Presentation 5th Nov’26 General Industrial & High Performance Coating Premiumisation > Infrastructure > Bridges > Railways > Construction > Appliances > Electricals New Technologies > Fluoropolymer > Anti Carbonation > High Solids > Direct to metal > Low bake systems > Water based Technology Strengthen dealer network > Dealer expansion > Entry to untapped geography Powder Premiumisation > Rebar > Construction > Alloy wheels > Super durables > Pipe coating > Heat resistant New Technologies > Low bake/ Fast cure > Bonded metallic > Anti Dirt pick up > Thermoplastic Maintain High M/S > Network Expansion Business Performance – GI+HPC ▪ PC liquid segment witnessed robust growth ▪ Strong growth witnessed in Construction Equipment, Infrastructure segment Business Performance - Powder ▪ Powder coating witnessed strong growth ▪ All segments witnessed strong growth with top performers being Auto Ancillary and Construction equipment > New Approvals [(KANSAI PAINT NEROLAC Page 25 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Auto Refinish (ARF) Investor Presentation 5th Nov’26 Premiumisation > Increase sale of Premium PU New Technologies > High solids paint system > Water borne coatings Network Expansion > Increase count of body shops > New approvals Business Performance ▪ Growth witnessed but mix deteriorated ▪ Premium PU segment delivered notable Bodyshop wins and remains on track to achieve the annual target ▪ Customer base expanded significantly, supported by ongoing training and skill enhancement initiatives [(KANSAI PAINT NEROLAC Page 26 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. New Products – Industrial Investor Presentation 5th Nov’26 Auto 4W Auto 2W Auto CV PC - Liquid PC - Powder WIP Focus on enhancing Finishes and Functionality, offer versatile Applications and prioritize Environmental Sustainability Environmental Sustainability ● Wet-on-Wet Seam Sealer & Underbody Coating implemented at a leading Passenger Vehicle OEM ● Lead-Free TSA Bright Red developed and first- time implemented for a 3-Wheeler customer ● Anti-Rust Clear approved for Tractor applications, enhancing corrosion protection ● Water-Based PUD developed for pumps with anti-corrosive properties and multi-substrate adhesion ● Metallic Mocha Brown introduced as part of liquid-to-powder conversion initiative for Fan segment Finishes & Functionality ● Premium Clear Coat developed and implemented, delivering enhanced wet-look appearance and premium finish ● Next-Generation PU Clear Coat implemented at a leading 2-wheeler maker to improve durability and export-part finish quality ● Anti-Rust Clear enables protection of inaccessible areas and supports post- assembly application ● Advanced coating solutions developed for high-performance industrial applications ● Super Durable Anodic Bronze commercialized for architectural segment with long-term durability Versatile Applications ● Nerokan HG range developed and implemented for Bus Body applications ● Expanded coating portfolio across 2-Wheeler and 3-Wheeler segments ● Strengthened presence in Tractor applications ● Fluoro Polymer based coating system approved for Bullet Train Station projects ● Coil Coating Primer developed for Aluminium Composite Panels ● Expanded offerings across Fan and Architectural segments with differentiated aesthetics [(KANSAI PAINT Page 27 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Performance Coating Paints DIVERSE APPLICATIONS, DIVERSE BUSINESS OPPORTUNITIES Investor Presentation 5th Nov’26 [(KANSAI PAINT @ Powder White Goods Kitchen Washing Machine NEROLAC @ General Industrial @ High PerformanceCoatings Helmet Can Coating Page 28 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Accolades – H1 Investor Presentation 5th Nov’26 [(KANSAI PAINT C:) Manufacturing "Golden Peacock Award" for "Energy Efficiency" at Hosur Plant G Decorative -------1 ~ NEROLAC ABBY 2026 Awards 1 Grand Prix, 1 Gold, 6 Silver and 3 Bronze E4m Real Time - Gamification in Advertising Page 29 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. ESG KNPL was rated in “B Category” in Climate Change and Water Security in CDP Cycle 2025 Rated in the Top and ranks 26/581 in the chemical industry and received Low risk rating indicating lower ESG risk. Recognized in the “Strong ” Category by CRISIL ESG Ratings 2026 KNPL has been awarded a Bronze Medal in EcoVadis. This result places KNPL among the top 18% of companies assessed by EcoVadis Ranked in the Top 14 Percentile of FTSE4Good Index 25-26 Review 2026 Investor Presentation 5th Nov’26 FTSE4Good Rated in the Top 12 Percentile within the Chemical Industry Group in the S&P Global Large-Midcap ESG Index 2025 20262026 2026 2025 2025 [(KANSAI PAINT Crisil ESGRatings &Analytics I --------------- r--------------- SUSTAINALYTICS a Morningstar company I --------------- NEROLAC ----------------, -----------------, ~CDP DISCLOSURE INSIGHT ACTION S&P Dow Jones Indices A □ ivi ei on of S&P Global Page 30 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. FINANCIAL PERFORMANCE Investor Presentation 5th Nov’26 Page 31 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Financials Standalone Q2 & H1 FY 26-27 Rs. In Millions Q2 % to Q2 % to H1 % to H1 % to 2025-26 Net Revenue 2026-27 Net Revenue 2025-26 Net Revenue 2026-27 Net Revenue Net Revenue 19074.6 100.0 22687.7 100.0 40306.9 100.0 46016.0 100.0 Material Cost 12396.0 65.0 15907.5 70.1 25982.6 64.5 31105.9 67.6 Operating Expenses 4551.1 23.9 4547.9 20.0 9098.0 22.6 9379.0 20.4 PBDIT 2127.5 11.2 2232.3 9.8 5226.3 13.0 5531.1 12.0 PBT 1840.1 9.6 1919.8 8.5 4908.2 12.2 5104.1 11.1 PAT 1365.6 7.2 1486.4 6.6 3641.4 9.0 3836.6 8.3 Growth (Q2 2026): Net Revenue: 18.9%; PBDIT: 4.9%; PBT: 4.3% Growth (H1 2026): Net Revenue: 14.2%; PBDIT: 5.8%; PBT: 4.0% Investor Presentation 5th Nov’26 [(KANSAI PAINT Page 32 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Financials Consolidated Q2 & H1 FY 26-27 Rs. In Millions Q2 % to Q2 % to H1 % to H1 % to 2025-26 Net Revenue 2026-27 Net Revenue 2025-26 Net Revenue 2026-27 Net Revenue Net Revenue 19541.8 100.0 23173.8 100.0 41162.1 100.0 46909.7 100.0 Material Cost 12660.5 64.8 16207.6 69.9 26481.2 64.3 31647.4 67.5 Operating Expenses 3431.6 17.6 3377.5 14.6 6935.6 16.8 7088.5 15.1 PBDIT 2152.6 11.0 2240.9 9.7 5184.1 12.6 5524.6 11.8 PBT 1816.7 9.3 1882.8 8.1 4771.3 11.6 5007.4 10.7 PAT 1333.1 6.8 1439.9 6.2 3489.0 8.5 3724.0 7.9 Growth (Q2 2026): Net Revenue: 18.6%; PBDIT: 4.1%; PBT: 3.6% Growth (H1 2026): Net Revenue: 14.0%; PBDIT: 6.6%; PBT: 4.9% Investor Presentation 5th Nov’26 [(KANSAI PAINT Page 33 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. RISK & OUTLOOK Investor Presentation 5th Nov’26 Page 34 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Risk and Outlook • As per RBI, Demand conditions remain healthy. The relevant macro indicators point to continuing activity across construction, mobility and broader domestic demand. • Automotive demand to be buoyant driven by new launches and inventory build up for festive period • Consumer sentiment on discretionary spend may get impacted due to inflationary environment Risk Outlook • Continued West Asia tensions leading to supply chain disruptions and market uncertainty • Sustained high crude oil and derivative prices, coupled with currency volatility, continue to exert pressure on import costs and procurement planning Investor Presentation 5th Nov’26 [(KANSAI PAINT NEROLAC Page 35 of 36
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All rights for this presentation are reserved with Kansai Nerolac Paints Limited. THANK YOU All rights for this presentation are reserved with Kansai Nerolac Paints Limited. Investor Presentation 5th Nov’26 [( KANSAI PAINT NEROLAC Page 36 of 36