BENGALURU, May 8 (Reuters) – Kansai Nerolac Paints Ltd (KANE.NS) reported a virtually four-fold surge in fourth-quarter revenue on Monday, helped by a rise in demand for its ornamental paints and a drop in some uncooked materials prices.

The paint maker’s consolidated internet revenue within the quarter ended March 31 rose to 937.7 million rupees ($11.5 million), from 247.3 million rupees a 12 months earlier.

Revenue for the corporate, owned by Japan’s Kansai Paint Co Ltd (4613.T), rose practically 13% within the quarter, whereas its price of supplies consumed fell over 5%.

The firm additionally permitted the difficulty of 1 bonus share for each two shares.

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WHY IT MATTERS

Nerolac has reported both a dip in revenue or a smaller-than-expected revenue development in three of the final 4 quarters.

High volatility in crude, which accounts for about 30% of uncooked materials prices, has corrected from its 2022 excessive of $139.13 per barrel in March final 12 months when it inflated Nerolac’s price of supplies consumed to over 18%.

PEER COMPARISON

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** The ratio of the inventory’s final near analysts’ imply worth goal; a ratio above 1 means the inventory is buying and selling above the PT

JAN-MARCH STOCK PERFORMANCE

— All knowledge from Refinitiv

— $1 = 81.7850 Indian rupees

Reporting by Varun Vyas in Bengaluru; Editing by Nivedita Bhattacharjee and Janane Venkatraman

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