Kansai Nerolac Paints Limited · NSE:KANSAINER
Kansai Nerolac Paints — Kansai Paint Co., Ltd. India Strategy Briefing 2026
28 slides from Kansai Nerolac Paints's conference presentation, Feb 24, 2026
Slide 1: Exchange filing cover letter: Presentation for analyst/investor meet
Page 1 of 28 KANSAI NEROLAC PAINT PAINT+ 24th February, 2026 1. Corporate Relationship Department 2. Manager – Listing BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai -
Slide 2: Kansai Paint Co., Ltd. India strategy briefing
Page 2 of 28 KANSAI PAINT Kansai Paint Co., Ltd. India strategy briefing (Kansai Nerolac Paints Ltd.) 26th February, 2026 Copyright © 2025 Kansai Paint Co.,Ltd. All rights reserved.
Slide 3: Today's Agenda
Page 3 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 2
Slide 4: Growing Together with India
Our winning strategy in India Page 4 of 28 Growing Together with India ✓ Our mission is to contribute to India’s development ✓ We have very balanced portfolio catering to, Automotive, Industrial, and Construction sectors ✓ Operating across these three segments enables us to achieve growth, stability
Slide 5: Today's Agenda
Page 5 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 4
Slide 6: Segment-wide penetration driven by in-house innovation and market share leadership
Our position Page 6 of 28 Segment-wide penetration driven by In-House innovation and market share leadership Kansai Nerolac Comp-A Comp-B Comp-C Comp-D Comp-E Comp-F Comp-G #3 Auto #1 *Joint venture *Joint venture *Joint venture *Joint venture Auto Auto refinish ✓ ✓ ✓ #4 *Joint venture General ✓ Ind
Slide 7: We are in the best position to enjoy the favorable external macro environment changes
Macro trend Page 7 of 28 We are in the best position to enjoy the favorable external macro environment changes Impact on Our Company (by segment) Macro Economic Trend Auto Industrial Deco Real GDP growth estimated at ~7–8% in 2025, GDP Growth accelerating toward becoming the world’s 3rd- largest eco
Slide 8: Delivering consistent healthy growth
The Financials Page 8 of 28 Delivering consistent healthy growth Last 10 Years Revenue/OP History (Revenue in Cr. INR) (OP in Cr. INR) COVID-19 impact was transitory; long-term growth dynamics remain firmly in place 8,000 900 7,000 800 Covid ↓ 700 6,000 600 5,000 500 4,000 400 3,000 300 2,000 200 1,
Slide 9: Today's Agenda
Page 9 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 8
Slide 10: Building a resilient business model across 3 strategic pillars
MTP(*) vision Page 10 of 28 Reposted from April 18, 2025 India Strategy Briefing Building a resilient business model by balancing stability, growth, and innovation across our 3 strategic pillars FY2023 Strategic direction --------------♦ MTP(*) ambition Industrial Growth Industrial --- ---- ---- ---
Slide 11: Strategy vision: Not a brand-new strategy, a business transformation
Business transformation Page 11 of 28 Reposted from April 18, 2025 India Strategy Briefing Strategy vision: Not a “brand-new” strategy, it’s a “Business transformation” Growth Drivers Operational Improvement Asset Strategic Agility/ CCC as a key Portfolio Leveraging Utilizations One-Kansai resources
Slide 12: Today's Agenda
Page 12 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 11
Slide 13: Progress at a glance: mostly progressing as planned
Business transformation Page 13 of 28 Progress at a glance: Mostly progressing as per planned, still some rooms to improve Progress Domains of Collaborations Portfolio management On the way to strengthen Growth Drivers One-Kansai Fully utilizing global assets Leveraging past M&A Started leveraging,
Slide 14: Portfolio Management: Growth Drivers
Portfolio Management Page 14 of 28 Growth Drivers Clear directions and resources allocations on Decorative Paints: 5-Year Growth Outlook vs. M/S M/S (%) State-Level Market Mapping 12.0% Protect Growth Accelerate Growth Mapping Bubble size = State-wise sales 10.0% Industrial ～ ～ 21.0% ●North ●East 8.
Slide 15: One-Kansai: Actively leveraging global assets
One-Kansai Page 15 of 28 Growth Drivers Actively leveraging global assets for the benefits of KNP and an entire group Domains of Collaborations Contents KNP to provide technical support Construction Chemicals of Construction Chemicals to help Plascon to capture new markets • - - - - - - - - - - - -
Slide 16: Nerofix: Structural reforms accelerating growth
Leveraging past M&A Page 16 of 28 Growth Drivers Nerofix: NEROFIX ® Structural reforms accelerating growth (Index) Nerofix Sales Trend Index Amalgamation of Nerofix 9.0 Organizational Amalgamation to 8.0 Accelerate Growth 7.0 Refoundation period Before After *post official approval 6.0 KNP Nerofix K
Slide 17: Working capital efficiency continues to improve
Operational CCC as a key performance driver Page 17 of 28 Improvement Working capital efficiency continues to improve CCC and Net Working Capital (NWC in Cr. INR) (CCC in Days) 94 days 2,500 96 94 2,000 92 90 1,500 88 86 1,000 84 82 500 82 days 80 78 0 76 31/Dec/2024 31/Dec/2025 [ ( KANSAI PAINT Sal
Slide 18: Today's Agenda
Page 18 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 17
Slide 19: Auto: Gaining market share in an expanding market
Auto Page 19 of 28 Gaining market share in an expanding market Production Units By Category Our Market Share Exports rise & GST cuts fuel production growth Continuously improving our market share (units) (*FY2025 is an image based on internal assumption) (MS %) by outpacing market growth 35,000 62.0
Slide 20: Auto: Dominant share in India, the world's largest 2/3W production hub
Auto Page 20 of 28 Dominant share in India, the world’s largest 2/3W production hub 2/3W Production Volume By Country Our Market Share By Major 2/3W Customers India is the world’s largest production hub Building an unbeatable position in (Units ‘000) all the major customers, totaling 70%+ share 20,0
Slide 21: Industrial: Focused segments are driving the growth
Industrial Page 21 of 28 Focused segments are driving the growth Segment-wise Major Growth Segment Sale and Growth Rate YTD TY(*) Construction equipment White goods (Index) 2.5 2.1 1.8 _,,-/ 2.0 1.5 1.0 1.4 ---- ---- -- Powder Furniture 1.0 0.5 0.0 - Our growth 系列1 - Estimated market 系列2 growth FY20
Slide 22: Industrial: Strength-driven growth, proven in the market
Industrial Page 22 of 28 Strength-driven growth, proven in the market Theme Descriptions Voice from customers • KNP is broadly comparable “Among KNP, Asian, and Berger, Functionality • In GI, KNP is price competitive there is KNP has product strength” • In powder, KNP maintains a clear edge Strength
Slide 23: Decorative: Sustaining #3 position regardless of hyper competitions
Decorative Page 23 of 28 Sustaining #3 position regardless of hyper competitions Decorative Sales Power Shift FY2024 FY2021 New Player #4 in Deco Kansai Nerolac #2 in Deco Market size #1 in Deco [ ( KANSAI PAINT / 22 Source: Internal assumptions
Slide 24: Decorative: Growth drivers are being executed as expected
Decorative Page 24 of 28 Growth drivers are being executed as expected Growth Drivers Progress YTD TY (*) • Numeric Reach Expansion Region Focused markets Approach • Weighted Reach in White Spaces Added 3,500+ dealers • Extractions • Increase Geographical Reach Project • Build pipeline of Project Si
Slide 25: Growing Together with India
Our winning strategy in India Page 25 of 28 Growing Together with India ✓ Our mission is to contribute to India’s development ✓ We have very balanced portfolio catering to, Automotive, Industrial, and Construction sectors ✓ Operating across these three segments enables us to achieve growth, stabilit
Slide 26: Today's Agenda
Page 26 of 28 1. Value of India for Kansai Paint 2. Macro trend & Our position 3. Recap of Key Highlights From Last Meeting Today’s Agenda 4. Progress of Business Transformation Drivers 5. Progress of Business Strategies by Segment 6. Q&A [ ( KANSAI PAINT Enrich 'ves with Happiness / 25
Slide 27: Thank You & Q&A
Page 27 of 28 THANK YOU & Q [ ( KANSAI PAINT Enrich 'ves with Happiness / 26
Slide 28: Disclaimer
Disclaimer Page 28 of 28 This presentation may contain statements which reflect management's current views and estimates and could be construed as forward making statements. The future involves c,e rtain risks and uncertainties that could cause actual results to differ materially from the current vi
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