Interim report
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4th November, 2026 1. Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001. 2. Manager – Listing National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. Sub.: Outcome of the Board Meeting of Kansai Nerolac Paints Limited held on 4th November, 2026 Ref.: 1. Regulation 30 (read with Schedule III - Part A), Regulation 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 2. BSE Scrip Code- 500165, NSE Symbol- KANSAINER Dear Sirs, This is to inform you that the Board of Directors of Kansai Nerolac Paints Limited has, in its meeting held today i.e. on Wednesday, 4th November, 2026, inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and six months ended 30th September, 2026 (“Unaudited Financial Results”). The Board Meeting commenced at 4.00 p.m. and concluded at 6.45 p.m. Further, pursuant to the applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”), please find enclosed herewith: (i) the Unaudited Financial Results for the quarter and six months ended 30th September, 2026; and (ii) Limited Review Report dated 4th November , 2026, issued by the Statutory Auditors of the Company with respect to the Unaudited Financial Results and taken on record by the Board of Directors of the Company. A press release on the Unaudited Financial Results is also enclosed herewith. Necessary arrangements have been made for publishing the Unaudited Financial Results in the newspapers, in the prescribed formats, in terms of Regulation 47 of SEBI Listing Regulations. For KANSAI NEROLAC PAINTS LIMITED G . T. GOVINDARAJAN COMPANY SECRETARY Encl.: As above. [( KANSAI PAINT KANSAI NEROLAC PAINTS LIMITED NEROLAC Registered Office : 28th Floor. A-wing. Marathon Futurex. N. M. Joshi Marg. Lower Parel. Mumbai - 400 013. India T: •9122 4060 2500/2501 I www.nerolac.com CIN L24202MH 1920PLC000825 Page 1 of 15
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SRB C& COLLP Chartered Accountants 1st Floor, Block B-7, North Side Nirlon Knowledge Park, Near Hub Mall Off Western Express Highway Goregaon (E), Mumbai - 400 063, India Tel : +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Vear to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Kansai Nerolac Paints Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Kansai Nerolac Paints Limited (the "Company") for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 /27~~{~. l>~ per Shyamsundar Pachisia Partner Membership No: 049237 UDIN:160!.t92.3fX &JlE 82 Place: Mumbai Date: November 04, 2026 SR B C & CO L L P, a L imited Llllbilit y Pllrlnenhip wit h LLP Id entity No. AA B·43 18 Regd. Office : 22. Camac Street. Block '8'. 3rd noor. Kolkara-700 016 Page 2 of 15
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KANSAI NEROLAC PAINTS LIMITED Registered Office: 28th Floor. A• Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai. 400 013 Tel: +91-22-40602500; e-mail: inveslor@nerolac.com Website: www.nerolac.com CIN: l24202MH1920PLC000825 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 Sr. No. Particulars 1 Income Revenue from Operations Other Income Total Income 2 Expenses a. Cost of Materials Consumed b. C. d. e. f. g. 3 4 5 6 a. b. C. 7 8 9 10 11 12 13 a. b. 14 a. b. Purchase of Stock-in-Trade Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade Employee Benefits Expense Finance Costs Depreciation and Amortisation Expense Other Expenses Total Expenses Profit before exceptional items and tax Exceptional Items Profit before tax Tax Expense Current Tax Adjustment of tax relating to earlier periods Deferred Tax Total Tax Expense Profit for the Period Other Comprehensive Income (i) Items that will not be reclassified to Statement of Profit and Loss (ii) Income tax on item that will not be reclassified to Statement of Profit and Loss Other Comprehensive Income (net of tax) Total Comprehensive Income Paid up Equity Share Capital (Face value off 1 each) Other Equity Earnings Per Equity Share [before exceptional items (net of tax)) (of ?1 each) (not annualised) Basic Diluted Earnings Per Equity Share (after exceptional rtems (net of tax)) (of ,1 each) (not annualised) Basic Diluted :~GNEO FOR IDENTIFICATION ~<11-<J. SR B C & CO LLP MUMBAI For the quarter ended For the six months ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Refer Note 4 Refer Note4 Refer Note 4 Refer Note 4 Refer Note4 2268.77 2332.83 1907.46 4601 .60 4030.69 35.57 55.18 28.65 90.75 81.57 2304.34 2388.01 1936.11 4692 .35 4112.26 1586.54 1490.62 1104.71 3077.16 2258.33 132.10 144.48 124.98 276.58 261.40 (127.89) (115.26) 9.91 (243.15) 78.53 134.62 130.69 129.73 265.3 1 255.16 4.88 4.96 4.44 9.84 8.82 61.94 61.67 52.95 123.61 104.56 320.17 352.42 325.38 672.59 654.64 21 12.36 2069 .58 1752.10 4181 .94 3621.44 191.98 318.43 184.01 510.41 490.82 191.98 318.43 184.01 510.41 490.82 44.38 82.87 45.53 127.25 123.89 (1.04) 0.54 1.92 (0.50) 2.79 43.34 83.41 47.45 126.75 126.68 148.64 235.02 136.56 383.66 364.14 0.05 0.06 (0.87) 0.11 (1.75) (0.02) (0.01) 0.22 (0.03) 0.44 0.03 0.05 (0.65) 0.08 (1.31) 148.67 235.07 135.91 383.74 382.83 80.87 80.87 80.85 80.87 80.85 1.84 2.91 1.69 4.74 4.50 1.84 2.90 1.69 4.74 4.50 1.84 2.91 1.69 4.74 4.50 1.84 2.90 1.69 4 .74 4.50 ,n rores For the year ended 31.03.2026 (Audited) Refer Note 4 7887.55 150.18 8037.73 4492.41 507.21 102.73 510.09 19.72 222.94 1288.92 7144.02 893.71 (63.15) 830.56 214.73 4.02 (0.39) 218.36 612.20 9.48 (2.27) 7.21 619.41 80.87 6552.68 8.19 8.18 7.57 7.57 Page 3 of 15
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KANSAI NEROLAC PAINTS LIMITED UNAUDITED STANDALON E STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2026 A B ASSETS 1 Non-current Assets Property, Plant and Equipment Capital Work-in-progress Righi of Use Assets (ROU) Investment Property Goodwill Other Intangible Assets Intangible assets under development Financial Assets: Investments Other Financial Assets Non-Current Tax Assets (Net) Other Non-current Assets Total Non-curr ent Assets 2 Curre nt Assets Inventories Financial Assets: Investments Trade Receivables Cash and Cash Equivalents Bank Balances other than Cash and Cash Equivalents Loans and Advances Other Financial Assets Other Current assets 3 Asset held for Sale EQUITY AND LIABILITIES 1 E quity Equity Share Capital Other Equity Total Current Assets Tota I Asse ts Total Equi ty 2 Share Applicatio n Money Pendin g All otement Liabilities 3 Non-current Liabiliti es Financia l Liabilities : Lease Liabilities Provisions Deferred Tax Liabilities (Net) 4 Current Liabilities Financial Liabilities : Lease Liabilities Trade Payables: Total Non-current Liabilitie s Total Outstanding dues of Micro Enterprises and Small Total Outstanding dues of creditors other than Micro Enterprises and Small Enterprises Other Financial Liabilities Other Current Liabilities Provisions Current Tax Liabilities (Net) Total Current Liabiliti es Total Liabilitie s Total Equity and Llabllltl es SIGN:l un IUCl'J 111-l(;AI ION 8 ~cf ~ J S R BC & CO LLP MUMBAI 30.09.2026 (Unaudited) Refer Note 4 2026.41 207.29 245.85 0.20 41.55 6.08 11.51 24.01 1968.53 1850.54 111.19 110.88 - 8.45 80.89 6734 .08 157.75 17.40 156.68 44.97 135.42 1249.18 1384.60 279.97 1709.54 54.81 79.05 20.14 Asal 2527.38 35.52 157.65 142.60 2863.15 1900.08 4049.59 197.40 6147 .07 0.12 9010.34 6814 .97 0.00 331.83 1863.54 2195.37 9010.34 31 .03.2026 (Audited) Refer Note 4 2044.14 169.26 262.54 0.12 0.20 49.75 4.78 11.74 24.04 2361.43 1402.90 188.62 7.97 - 16.49 80.87 6552.68 170.55 17.71 157.15 46.65 76.42 1030.20 1106.62 268.13 1421.40 41 .93 71.23 - - 0'-t,.C P4l 4 1'~ l ~ "' 4 \ MUMBA1 C ti'. l 1-; ,,.,,_ '?';..., ~ * 0 - , in Crores 2530.79 35.78 182.83 104.35 2853.75 1509.86 3977.41 172.50 5659.77 - 8513.52 6633.55 0.00 345.41 1534.56 1879.97 8513.52 Page 4 of 15
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Notes: 1 The above unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 4th November 2026. The statutory auditors have expressed an unqualified review conclusion. The review report has been filed with stock exchange and is available on the Company's website. 2 The Standalone financial results have been prepared in accordance with the recogntion and measurement principles of Indian Accounting Standard ("Ind AS") 34, prescribed under section 133 of the Companies Act 2013 (the "Act") read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. 3 As the Management Committee monitors the business activity of the Company as a single segment viz. 'Paints' and the sales substantially being in the domestic market, the financial results are reflective of the disclosure requirements of Ind AS 108 - Operating Segments. 4 The Board of Directors of the Company, at its meeting held on 11 August 2025, approved the Scheme of Amalgamation ("Scheme") for the amalgamation of Nerofix Private Limited, its wholly owned subsidiary ("Transferor Company"), with the Company ("Transferee Company"), pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The NCL T approved the Scheme vide its order dated 24 September 2026 and rectification of some typographical/ clerical errors in the Order dated 24 September 2026 vide Order dated 14 October 2026. The Certified copies of the Orders is yet to be received. As the NCL T order was received prior to the approval of the financial results and the amalgamation is a common control business combination within the scope of Appendix C to Ind AS 103 - Business Combinations of entities under common control, effect of NCL T order is given in these financial result. The Company has thus accounted for the amalgamation under the pooling of interest method retrospectively with effect from 1 April 2025, for all periods presented in the above results as prescribed in Appendix C to Ind AS 103 - Business Combinations of entities under common control. The previous period/year numbers have been accordingly restated. The impact of the amalgamations on the Statement of Unaudited Standalone Financial Results for the quarter and six months ended 30 September 2026 is as under: fin Crores Quarter ended Six months ended Year ended Particulars 30.06.2026 30.09.2025 30.09.2025 31.03.2026 Reported Restated Reported Restated Reported Restated Reported Restated Revenue from operations 2299.52 2332.83 1871.02 1907.46 3958.44 4030.69 7739.23 7887.55 Profit before tax 325.75 318.43 184.39 184.01 494.47 490.82 838.21 830.56 Profit after tax 242.34 235.02 136.94 136.56 367.79 364.14 619.85 612.20 fin Crores As at 31.03.2026 Particulars Reported Restated Total assets 8538.59 8513.52 Total liabilities 1842.82 1879.97 Total equity 6695.77 6633.55 5 Previous period figures have been regrouped / rearranged, wherever necessary, to correspond to current period's presentation. !~GNEO FOR IDENTIFICATION ~ ~ C f (- J. For KANSAI NEROLAC PAINTS LIMITED SR 8 C & CO Plac : Mumbai L L P Date: llfl'lto ,........,...._8._;;__A:.:.l ___ _j PRA MANAGING DIRECTOR Page 5 of 15
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KANSAI NEROLAC PAINTS LIMITED UNAUDITED STANDALONE CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER , 2026 f in Crores Six months ended Six months ended Particulars 30.09.2026 30.09.2025 (Unaudited) (Unaudited) Refer Note 4 Refer Note 4 Cash Flow From Operatin g Acti vities Profit Before Tax 510.41 490.82 Adjustments for: Depreciation and Amortisat ion Expenses 123.61 104.56 Fair Value Gain on Financial Instrumen ts recognised through FVTPL (54.05) (43.39) Unrealised Foreign Exchange Gain (Net) (0.33) 0.40 Profit on Sale of Current Investments (Net) (24.32) (20.13) Interest Income (3.26) (8.69) Dividend Income (0.02) (0.02) (Profil)/Loss on Sale of Property, Plant and Equipment (Net) (0.05) (0.03) Finance Cost 9.84 8.82 Impairment loss allowance on trade receiv ables and other receivables 7.58 11.21 Share based payment expense 0.16 3.05 Gain from closure of lease liability (0.06) 59.10 55.78 Operating Profit Before W or1<ing Capital Changes 569.51 546.60 Increase in Trade and Other Receivables (506.05) (336.66) (Increase) I Decrease in Inventories (390.22) 28.08 Increase in Trade Payables, Other Financial Liabilities and Provisions 326.30 69.90 (569.97) (238.68) Cash (used in) I Generated from Operations (0.46) 307.92 Direct Taxes Paid (Net of Refunds) (81.93) (105.72) Net Cash Flows (used in) / g enera ted f rom Operating Activ ities (82.39) 202.20 Cash Flow from Investing Activities Purchase of Property, Plant and Equipment and Other Intangible Assets (including Adjustments on Account of Capital Work-in-progress , C apital Creditors and Capital Advances) (135.42) (102.79) Proceeds from Sale of Property. Plant and Equipment 0.05 0.03 Proceeds from Sale of Non-current Investments 0 .23 0.08 Purchase of Investments in subsidiary (8.82) Purchase of Current Investments (1600.06) (2040.00) Proceeds from Sale/Redemp tion of Current Investments 2071.33 2223.13 Interest Received 3.26 8.69 Dividend Received 0.02 0.02 Proceeds from fixed deposits (102.10) 147.77 Net Cash Flows used in Investing Activities 237.31 228.11 Cash Flows from Financing Activities Payment of Lease Liabilities (30.17) (24.17) Finance Cost (1.47) Dividend Paid (202.18) (303.18) Repayment of long-term Borrowings (30.00) Net Cash Flows (used) in Financing Activities (232.35) (358.82) Net (Decrease) / Increase in Cash and Cash Equivalents 177.43 71.49 Cash and Cash Equivalents at b eginning of the period, the components being: Cash on Hand 0.06 0.10 Cheques on hand 25.58 22.85 Balances with Banks 107.95 64.13 Deposit with Banks with less than 3 months maturity 55.03 188.62 87.08 Cash and Cash Equivalents at end of the period, the components being: Cash on Hand 0.08 0.11 Cheques on hand - 14.78 Balances with Banks 109.99 82.85 Deposit with Banks with less than 3 months maturity 1.12 60.83 111.19 158.57 Net (Dec rease) / Increase in Cash and Cash Equivalents 177.431 71.49 Notes: ~ 1 The 'above Cash_FJaJ' Staterri.e t is prepared under the "Indirect Method" as set out in the Indian Accounting Standards t J"Z'-::i."' ,~. Page 6 of 15
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SR BC& COLLP Chartered Accountants 1st floor, Block B-7, North Side Nirlon Knowledge Park, Near Hub Mall . Off Western Express Highway Goregaon (E), Mumbai - 400 063, India Tel: +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Kansai Nerolac Paints Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Kansai Nerolac Paints Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of inter im financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Holding Company Kansai Nerolac Paints Limited Subsidiary Companies i. KNP Japan Private Limited ii. Kansai Nerolac Paints (Bangladesh) Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 and 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of 2 subsidiaries, whose unaudited interim financial results include total assets of Rs. 208.91 Crores as at S R BC & CO LLP, a Limited Liability Partnenhip with LLP Identity No. AAB·4318 Regd. Office: 22, Camac Street, Block '8'. 3rd F!oor. Kol,ata·700 016 Page 7 of 15
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SR BC& CO LLP Ch1rter1d Accountents Kansai Nerolac Paints Limited Page 2 of 2 September 30, 2026, total revenues of Rs. 49.48 Crores and Rs. 90.87 Crores, total net loss after tax of Rs. 4.56 Crores and Rs. 11.08 Crores, total comprehensive loss of Rs. 5.88 Crores and Rs. 12.38 Crores, for the quarter ended September 30, 2026 and the period ended on that date respectively, and net cash inflows of Rs. 0.90 Crores for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditors. The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. 7. Certain of these subsidiaries are located outside India whose financial results and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial results of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company's management. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us. Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with respect to our reliance on the work done and the reports of the other auditors. For S R B C & CO LLP Chartered Accountants ICAI Firm registrat ion number: 324982E/E300003 ~ ::,.f :~::- Partner Membership No.: 049237 UDIN:2 6O4 U.37-BR N FZY 26 Place: Mumbai Date: November 04, 2026 Page 8 of 15
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KANSAI NEROLAC PAINTS LIMITED Registered Office: 28th Floor, A - Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai ~ 400 013 Tel: +91-22-40602500; e-mail: investor@nerolac.com Website: www.nerolac.com CIN: L24202MH1920PLC000825 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 For the quarter ended For the six months ended Sr. No. Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 1 Income Revenue from Operations 2317.38 2373.59 1954.18 4690.97 4116 .21 Other Income 35.10 54.94 26.43 90.04 81.04 Total Income 2352.48 2428.53 1982.61 4781 .01 4197 .25 2 Expenses a. Cost of Materials Consumed 1615.47 1516.48 1131.02 3131.95 2307 .02 b. Purchase of Stock-in-Trade 132.26 144.4 8 125.46 276.74 262 .19 c. Changes in Inventories of Finished Goods , Work-in-Progress and Stock-in-Trade (126.97) (116.98) 9.57 (243.95) 78.91 d. Employee Benefits Expense 142.52 138.16 137.42 280.68 271 .19 e. Finance Costs 7.74 8.02 7.71 15.76 15.07 f. Depreciation and Amortisation Expense 63.17 62.83 54.31 126.00 107.25 g. Other Expenses 330.01 363.08 335.45 693.09 678.49 Total Expenses 2164.20 2116.07 1800.94 4280.27 3720 .1 2 3 Profit before exceptional items and tax 188.28 312.46 181.67 500.74 477.13 4 Exceptional items - - 5 Profit before tax 188.28 312.46 181.67 500.74 477 .13 6 Tax Expense a. Current Tax 45.31 83.50 46.40 128.81 125.37 b. A djustment of tax relating to earlier periods - c. Deferred Tax (1 .02) 0.55 1.96 (0.47) 2.86 Total Tax Expense 44.29 84.05 48.36 128.34 128.23 7 Profit for the Period 143.99 228.41 133.31 372.40 3 46.90 8 O ther Comprehensive Income a. (i) Items that will not be reclassffied to Statement of Profit and Loss 0.05 0.06 (0.67) 0.11 (1.75) (ii) Income tax relating to items that will not be reclassified to Statement of Profit and Loss (0.02) (0.01) 0.22 (0.03) 0.44 b. (i) Items that will be reclassified to Statement of Profit and Loss (1.32) 0.02 (4.40) (1.30) (3.73) (ii) Income tax relating to items that will be reclassified to Statement of Profit and Loss Total Other Comprehensive Income (1.29) 0.07 (5.05) (1.22) (5.04) 9 Total Comprehensive Income 142.70 228.48 128.26 371.18 343.86 10 Profit for the period attributable to: Owners of the Company 146.36 231.58 134.93 377.94 355.84 Non-contro lling interests (2.37) (3.17) (1.62) (5.54) (6.94) 143.99 228.41 133.31 372.40 348.90 11 Other Comprehensive Income attributable to: Owners of the Company (1 .29) 0.07 (5.05) (1.22) (5.04) Non-controlling interests - - (1.29) 0.07 (5.05) (1.22) (5.04) 12 Total Comprehensive Income attributable to: Owners of the Company 145.07 231.65 129.88 376.72 350.80 Non-controlling interests (2.37) (3.17) (1.62) (5.54) (6.94) 142.70 228.48 128.26 371.18 343.86 13 Paid up Equity Share Capital (Face value of~ 1 each) 80.87 80.87 80.85 80.87 80.85 14 Other Equity 15 Earnings Per Equity Share [before exceptional items (net of tax)] (of ~1 each) (not annualised) 1.81 2.86 1.67 4.67 4.40 a . Basic Diluted 1.81 2.86 1.67 4.67 4.40 b. 16 Earnings Per Equity Share [after exceptional items (net of tax)] 1-- l\ifflm , □ E ~ Tl Fl CATION 1.81 2.86 1.67 4.67 4.40 I ri:',I bilut~ A 1.81 2.86 1.67 4.67 4.40 ~ t? o\.b.C 1>41. ~A C J ~ v--1· QC "'> ,.,; IP I ~ 1, MUMBAI C s R B C & co LL P "'\: ~ .. · -· .... rv~UMBAI. --- .. .... ~- 1-i,..,,-- -,;.~ 'y ~ in Crores For the year ended 31.03.2026 (Audited) 8051.91 145.94 8197.85 4581.64 508.24 106.72 542.14 32.29 228.12 1338.57 7337.72 860.13 (63.15) 796.98 217.53 4.02 (0.41) 221.14 575.64 9.48 (2.27) (8.13) (0.92) 574.92 589.47 (13.63) 575.64 (0.92) (0.92) 588.55 (13.63) 574.92 80.87 6632 .91 7.93 7.93 7.29 7.28 Page 9 of 15
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KANSAI NEROLAC PAINTS LIMITED UNAUDITED CONSOLIDATED STATEME NT OF ASSETS AND LIABILIT IES AS AT 30 SEPTEMBER 2026 ,n rores As at 30.09.2026 31.03.2026 (Unaudited) (Audited) A ~ 1 Non.current Assets Property, Plant and Equipment 2066.47 2085.68 Capital Work-in-progress 207.47 169.91 Right of Use Assets (ROU) 249.11 265.19 Investment Property 0.12 Goodwill 2.47 2.47 Other Intangible Assets 42.58 50.84 Intangible assets under development 6.08 4.78 2574.18 2578.99 Financial Assets: Investments 3.64 3.87 Other Financial Assets 24.12 24.13 27.76 28.00 Non-Current Tax Assets (Net) 198.80 226.10 Other Non-current Assets 142.60 104.35 Total Non.current Assets 2943.34 2937.44 2 Current Assets Inventories 1922.51 1530.17 Financial Assets: Investments 1968.53 2361.43 Trade Receivables 1909.98 1467.36 Cash and Cash Equivalents 120.29 196.79 Bank Balances other than Cash and Cash Equivalents 129.18 28.99 Other Financial Assets 5.57 7.69 4133 .55 4062.26 Other Current assets 204.74 181.24 Total Current Assets 6260.80 5773.67 3 Asset held for Sale 0.12 Total Assets 9204.26 8711.11 B EQUITY AND LIABILITIES 1 Equity Equity Share Capital 80.88 80.87 Other Equity 6807.20 6632.91 6888.08 6713.78 Non-controlling Interest (30.38) (24.93) Total Equity 6857.70 6688.85 2 Share Application Money Pending Allotement 0.00 0.00 Llabllltles 3 Non-current Liabilitie s Financial Liabilities: Borrowings 8.95 8.68 Lease Liabilities 159.71 172.33 Provisions 17.40 17.71 Deferred Tax Liabilities (Net) 165.95 166.39 Total Non-current Llablllties 352.01 365.11 4 Cur'rent Llabllltles Financial Liabilities: Borrowings 73.61 74.00 Lease liabilities 46.49 47.72 Trade Payables: Total Outstanding dues of Micro Enterprises and Small Enterprises 135.42 76.42 Total Outstanding dues of creditors other than Micro Enterprises and Small Enterprises 1313.62 1088.24 1449.04 1164.66 Other Financial Liabilities 245.88 231.08 1815.02 1517.46 Other Current Liabilities 80.61 63.05 Provisions 84.66 76.64 Current Tax Liabilities (Net) 14.26 Total Current Llabilitles 1994.55 1657.15 Total Liabilities 2346.56 2022.26 Tota l Equity and Liablllties 9204.26 8711.11 - .. - - t ·, L Page 10 of 15
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Notes: The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 4th November 2026. The statutory auditors have expressed an unqualified review conclusion. The review report has been filed with stock exchange and is available on the Holding Company's website. 2 The above unaudited consolidated financial results include results of subsidiaries KNP Japan Private Limited. Kansai Nerolac Paints (Bangladesh) Limited, Kansai Paints Lanka (Private) Limited (Upto 16th December 2025). The said financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standard ("Ind AS") 34. prescribed under section 133 of the Companies Act 2013 (the "Act") read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. 3 As the Management Committee monitors the business activity consisting of paints and other related products of the Group as a single segment viz. 'Paints' and the sales substantially being in the domestic market, the financial results are reflective of the disclosure requirements of Ind AS 108 - Operating Segments. 4 Previous period figures have been regrouped/ rearranged, wherever necessary, to correspond to current period's presentation. SIGNED FOR IDENTIFICATION Place•M : ~ C [w J· Date: 4th NovS1bR2!@ C & C O L L P MUM BAI t Page 11 of 15
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KANSAI NEROLAC PAINTS LIMITED UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER. 2026 ~ in Crores Six months ended Six months ended Particulars 30.09.2026 30.09.2025 (Unaudited) (Unaudited) Cash Flow From Operating Activities Profit Before Tax 500.74 477.13 Adjustments for: Depreciation and Amortisation Expenses 126.00 107.25 Fair Value Gain on Financial Instruments recognised through FVTPL (54.05) (43.39) Unrealised Foreign Exchange (Gain)/ Loss (Net) (0.33) 0.40 Profit on Sale of Current Investmen ts (Net) (24.32) (20.13) Interest Income (2.21) (7.79) Dividend Income (0.02) (0.02) Profit on Sale of Property, Plant and Equipment (Net) (0.15) (0.18) Finance Cost 15.76 15.07 Impairment loss allowance on trade receivables and other receivables 8.20 13.58 Share based payment expense 0.16 3.05 Gain from Closure of Lease Liability (0.06) 68.98 87.84 Operating Profit Before Worl<ing Capital Changes 569.72 544.97 Increase in Trade and Other Receivables (515.02) (340 .34) (Increase) I Decrease in Inventories (392.34) 30.63 Increase in Trade Payable s, Other Financial Liabilities and Provisions 346.85 77.55 (560.5 1) (232.16) Cash Generated from Operations 9.21 312.81 Direct Taxes Paid (Net of Refunds) (87.25) (111.10) Net Cash Flows (used in) / generated from Operating Activities (78.04) 201.71 Cash Flow from Investing Activities Purchase of Property, Plant and Equipment and Olher intangible Assets {including Adjustments on Account of Capital Worl<-in-progress. Capital Creditors and Capital Advances) (135.17) (103.08) Proceeds from Sale of Property, Plant and Equipment 0.57 0.34 Proceeds from Sale of Non-current Investments 0.23 Purchase of Current Investments (1600.06) (2040.00) Proceeds from Sale/Redemption of Current Investments 2071.33 2223.13 Interest Received 2.21 7.79 Dividend Received 0.02 0.02 (Investment in) Proceeds from I fixed deposits (99.38) 149.70 Net Cash Flows used in Investing Activities 239.75 237.90 Cash Flows from Financing Activities Proceeds I (Repayment) of Long-term Borrowings 0.27 (21.74) Repayment of Current Borrowings (0.43) (7.73) Payment of Lease Liabilities including interest (30.17) (25.45) Interest Paid (5.73) (7.40) Dividend Paid (202.18) (303.18) Net Cash Flows (used in) Financing Activities (238.24) (365.50) Net (Decrease)/ Increase in Cash and Cash Equiva lents 176.531 74.11 Cash and Cash Equivalents at beginning of the period, the components being: Cash on Hand 0.46 0.46 Cheques on hand 25.58 22.85 Balances with Banks 115.72 70.69 Bank overdrafts and Cash Credit (58.77) (64.40) Deposit with Banks with less than 3 months maturity 55.03 138.02 29.60 Cash and Cash Equivalents at end of the period, the components being: Cash on Hand 0.44 0.33 Cheques on hand 14.78 Balances with Banks 118.73 95.02 Bank Overdrafts and Cash Credit (58.80) (67.25) Deposit with Banks with less than 3 months maturity 1.12 60.83 61.49 103.71 Net lncreasel(Decrease) as disclosed above 176.53 74.11 - Page 12 of 15
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KANSAI NEROLAC PAINTS LIMITED Registered Office: 28th Floor, A- Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai - 400 013 Tel: +91-22-40602500; e-mail: investor@nerolac.com Website: www.nerolac.com CIN: L24202MH1920PLC000825 STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND S IX MONTHS ENDED 30 SEPTEMBER 2026 Standalone Consolidated For the quarter ended Six months ended For the year For the quarter ended Six months ended Particulars ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 (Unaudited) (Unaudited) /Unaudited) /Unaudited) /Unaudited) (Audited) /Unaudited) /Unaudited\ <Unaudited) (Unaudited) (Unaudited) Revenue from Operations 2268.77 2332.83 1907.46 4601.60 4030.69 7887.55 2317.38 2373.59 1954.18 4690.97 4116 .21 Net Profit for the Period (before 1ax and Exceptional items) 191.98 318.43 184.01 510.41 490.82 893.71 188.28 312.46 181.67 500.74 477.13 Net Profit for the Period before tax (after Exceptional items) 191.98 318.43 184.01 510.41 490.82 830.56 188.28 312.46 181.67 500.74 477.13 Net Profit for the Period after lax (after Exceptional items) 148.64 235.02 136.56 383.66 364.14 612.20 143.99 228.41 133.31 372.40 348.90 Total Comprehensive Income forlhe Period 148.67 235.07 135.91 383.74 362.83 619.41 142.70 228.48 128.26 371.18 343.86 Equity Share Capital 80.87 80.87 80.85 80.87 80.85 80.87 80.87 80.87 80.85 80.87 80.85 Other Equity 6552.68 Earnings Per Equity Share [before exceptional Items (net of tax)] {off t 1/- each ) (not annualised) Basic 1.84 2.91 1.69 4.74 4.50 8.19 1.81 2.86 1.67 4.67 4.40 Diluted 1.84 2.90 1.69 4.74 4.50 8.18 1.81 2.86 1.67 4.67 4.40 Earnings Per Equity Share [after exceptional items {net of tax)] {off t 1 /- each) (not annualised) Basic 1.84 2.91 1.69 4.74 4.50 7.57 1.81 2.86 1.67 4.67 4.40 Diluted 1.84 2.90 1.69 4.74 4.50 7.57 1.81 2.86 1.67 4.67 4.40 ~ in Crores For the year ended 31 .03.2026 {Audited) 8051.91 860.13 796.98 575.84 574.92 80.87 6632 .91 7.93 7.93 7.29 7.28 Note: The above is an extract of the detailed format of Statement of Unaudited Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements ) Regulations, 2015. The full format of Statement of Unaudited F~ancial Results are avai lable on the webs ites of Stock Exchanges at https://www.bseindia.com and https://www. nseindia.com and also on the Company's website at https://www.nerolac.com. The auditors have expressed an unqualified review opilion and review report on the financial results for the quarter and six months ended 30 September 2026. Place: Mumba i Date: 4th November 2026 Page 13 of 15
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Press Release Mumbai, November 4, 2026 Kansai Nerolac Paints Ltd Announces Q2 Results FY 2026-2027 Mumbai, November 4, 2026: Kansai Nerolac Paints Limited, one of India’s leading paint companies and a leader in industrial coatings, today announced its unaudited financial results for the quarter and half-year ended September 30, 2026. For the quarter, revenue from operations stood at ₹ 2268.77 crore, representing year -on-year growth of 18.9%. EBITDA was ₹ 223.23 crore, an increase of 4.9% over the corresponding quarter of the previous year, while profit before tax was ₹ 191.88 crore, representing growth of 4.3%. For the half year, revenue from operations stood at ₹ 4601.60 crore, representing year -on-year growth of 14.2%. EBITDA was ₹ 553.11 crore, an increase of 5.8%, while profit before tax was ₹ 510.41 crore, representing growth of 4.0% over the corresponding period of the previous year. Commenting on the results, Mr. Pravin Chaudhari, Managing Director, Kansai Nerolac Paints Ltd said, “We delivered healthy revenue growth during the quarter, supported by good momentum across both Decorative and Industrial businesses. The Industrial business maintained strong momentum across key segments, benefiting from our established customer relations hips, technology capabilities and diversified portfolio. In Decorative, our focus remains on pursuing growth with profitability. We continued to strengthen our position in attractive adjacencies, including construction chemicals, waterproofing, wood finishes and projects, while maintaining disciplined market execution. Raw-material and foreign-exchange volatility continued to exert pressure on input costs. We have taken calibrated pricing actions to partly mitigate the impact and are intensifying our efforts on product mix, formulation optimisation, sourcing efficiencies and cost management. These initiatives remain important for progressively improving the quality and sustainability of earnings. Looking ahead, we expect demand conditions to remain supportive across both Decorative and Industrial businesses, aided by the festive season and underlying activity in automotive, infrastructure, real estate and core industrial sectors. At the same time, we remain watchful of geopolitical uncertainty, commodity prices and currency movements. Our priorities remain clear: deliver sustainable growth, strengthen margins through disciplined execution, expand in attractive segments and continue investing in innovation, brand, distribution and customer service.” Outlook of Indian Paint Industry: Demand for paints and coatings is expected to benefit over the medium - to long -term from urbanisation, housing and real estate activity, infrastructure investment, automobile production, and [(KANSAI PAINT NEROLAC KANSAI NEROLAC PAINTS LIMITED Registered Office : 28th Floor. A-wing. Marathon Futurex. N. M. Joshi Marg. Lower Parel. Mumba i - 400 013. India T •9122 4060 2500/250 1 I wwv.1.nerolac.com CIN: L24202M H1920PLC000825 Page 14 of 15
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growth across core industries. Near -term demand is expected to remain competitive, while commodity price and foreign exchange volatility may continue to influence input costs. Kansai Nerolac Paints remains focused on leveraging its leadership in Industrial coatings, strengthening its Decorative business, expanding in attractive adjacencies and improving operational efficiency to deliver sustainable and profitable growth. About Kansai Nerolac Paints Ltd: Kansai Nerolac Paints now in its 107 th year has been at the forefront of paint manufacturing pioneering a wide spectrum of quality paints. Kansai Nerolac is one of the leading paint companies in India and is the leader in Industrial paints . The company has nine strategically located manufacturing units all over India and a strong dealer network across the country. The company manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most of the industries. Please visit www.nerolac.com . [(KANSAI PAINT NEROLAC KANSAI NEROLAC PAINTS LIMITED Registered Office : 28th Floor. A-wing. Marathon Futurex. N. M. Joshi Marg. Lower Parel. Mumba i - 400 013. India T •9122 4060 2500/250 1 I wwv.1.nerolac.com CIN: L24202M H1920PLC000825 Page 15 of 15