MAM
Anuj Jain named as Kansai Nerolac Paints MD
Mumbai: Kansai Nerolac Paints Ltd (KNPL) has announced the appointment of Anuj Jain as the managing director, effective from 1 April. Jain succeeds H M Bharuka, who will be superannuating on 31 March.
Jain joined KNPL in 1990 as a management trainee. In his tenure of over 30 years at the company, he has worked in various capacities across various functions and brings a wealth of experience. He has been on the board of KNPL in the capacity of executive director since 2018.
“I am deeply grateful to the board and Kansai Paints, Japan for giving me an opportunity to not just be a part but lead this esteemed organisation,” said Anuj Jain. “I look forward to continuing the rich history of this company and build on the legacy of Mr Bharuka to take the company to greater heights.
Bharuka joined KNPL in 1985, becoming its managing director in April 2001. He featured amongst India’s Top 50 CEOs and was awarded a lifetime achievement award by the Indian Chemical Industry. He served as the first non-Japanese director on the board of Kansai Paints, Japan. He is also credited for leading KNPL’s expansion into the Indian subcontinent.
“Bharuka was known for his visionary and bold leadership style which led to many firsts in the Indian paint industry. Under his leadership, KNPL won numerous accolades in a variety of areas notably the Golden Peacock Award for Corporate Governance, Best Managed Company by Business Today, Great Place to Work by GPTW and recognition as an ESG leader in India by CRISIL,” said the company in a statement.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
