Large Cap Stock Sets Record Date For 1:2 Bonus Shares, LIC Held Stake In Q4

Kansai Nerolac Paints is a large-cap consumer discretionary company that recorded a market cap of Rs 24,879.23 Cr during Wednesday's closing session. Headquartered in Mumbai, Kansai Nerolac Paints Limited is India's largest decorative paint and industrial paint manufacturer.

In order to determine the eligibility of the shareholders for the purpose of 1:2 bonus shares, the company has informed stock exchanges that the Board of Directors has finalized the record date.

"In terms of the provisions of Regulation 42 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that Tuesday, 4th July, 2023 is fixed as the Record Date for ascertaining the eligibility of Members for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) New Equity Share of Re.1 each for every 2 (Two) existing Equity Shares held by the Members of the Company," said Kansai Nerolac Paints in a stock exchange filing.

On a consolidated basis, the company recorded a net income of Rs 1,743.29 Cr during the March 2023 quarter compared to Rs 1,535.63 Cr during March 2022 quarter. Its net expenses stood at Rs 1,611.28 Cr as against Rs 1,495.72 Cr during the corresponding quarter of FY22. The EBIT of the company reached Rs 132.01 Cr during Q4FY23 compared to Rs 39.91 Cr during Q4FY22. Kansai Nerolac Paints said its net profit stood at Rs 93.77 Cr during Q4FY23 compared to Rs 24.73 Cr in Q4FY22. The EPS of Kansai Nerolac Paints reached Rs 1.74 during March 2023 quarter as against Rs 0.46 in March 2022 quarter.

On Wednesday, the shares of Kansai Nerolac Paints closed on the BSE at Rs 462.00 apiece up by 1.46% from the previous close of Rs 455.35. The stock touched a 52-week-high of Rs 535.90 on (03/08/2022) and a 52-week-low of Rs 358.05 on (22/06/2022). During Q4FY23, Kansai Nerolac Paints Limited recorded a promoters' shareholding of 74.99%, FIIs stake of 3.88%, DIIs stake of 12.82% and a public stake of 8.31%.

As per the shareholding pattern of Kansai Nerolac Paints for January to March 2023 quarter, Life Insurance Corporation Of India held fully paid-up equity shares of 1,81,80,149 or 3.37% stake while ICICI Prudential Life Insurance Company Limited held 69,54,570 fully paid up equity shares or 1.29% stake in the company.