Kansai Paint Co., Ltd. · TSE:4613
Kansai Paint — Investor Day (February 2026)
27 slides from Kansai Paint's investor day presentation, Feb 26, 2026
Slide 1: India strategy briefing (Kansai Nerolac Paints Ltd.)
Kansai Paint Co., Ltd. India strategy briefing (Kansai Nerolac Paints Ltd.) 26th February, 2026 Copyright © 2025 Kansai Paint Co.,Ltd. All rights reserved.
Slide 2: Today's Agenda
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 / 2
Slide 3: Growing Together with India
Our winning strategy in India 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, and long-te
Slide 4: Today's Agenda
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 / 4
Slide 5: Segment-wide penetration driven by in-house innovation and market share leadership
Our position 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 Industrial #3 High Indus
Slide 6: We are in the best position to enjoy the favorable external macro environment changes
Macro trend 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 economy Governme
Slide 7: Delivering consistent healthy growth
The Financials 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 1,000 100 0 - F
Slide 8: Today's Agenda
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 / 8
Slide 9: Building a resilient business model by balancing stability, growth, and innovation
MTP(*) vision 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 Non-deco Non-deco Auto Auto Innovation Deco Dec
Slide 10: Strategy vision: Not a brand-new strategy, it's a business transformation
Business transformation 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 Swiftness to
Slide 11: Today's Agenda
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 / 11
Slide 12: Progress at a glance: Mostly progressing as planned
Business transformation 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, to begin with
Slide 13: Portfolio Management Growth Drivers
Portfolio Management 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 8.0% 16.0% ●West
Slide 14: One-Kansai: Actively leveraging global assets for KNP and the group
One-Kansai 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 KHEC to provide technical ACE, Railway a
Slide 15: Nerofix: Structural reforms accelerating growth
Leveraging past M&A Growth Drivers 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 KNP 5.0 4.0 Record-high s
Slide 16: CCC as a key performance driver
Operational CCC as a key performance driver 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 Sales revenue Growth path / 16
Slide 17: Today's Agenda
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 / 17
Slide 18: Auto: Gaining market share in an expanding market
Auto 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% 61.0% 30,000
Slide 19: Dominant share in India, the world's largest 2/3W production hub
Auto 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 20,000 Customer-A
Slide 20: Industrial: Focused segments are driving the growth
Industrial 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 1.4 1.5 1.0 Powder Furniture 1.0 0.5 Our growth 系列1 Estimated market 系列2 growth 0.0 FY2021 FY2024 FY2025 ('E) FY2027 Agricult
Slide 21: Industrial: Strength-driven growth, proven in the market
Industrial 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 Strengths versus peers
Slide 22: Decorative: Sustaining #3 position regardless of hyper competition
Decorative 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 / 22 Source: Internal assumptions
Slide 23: Decorative: Growth drivers are being executed as expected
Decorative 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 Sites 10%+ growt
Slide 24: Growing Together with India
Our winning strategy in India 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, and long-te
Slide 25: Today's Agenda
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 / 25
Slide 26: THANK YOU
THANK YOU (fA) PAINT Enrich |_ive@S with Happiness
Slide 27: Disclaimer
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. Po