Kansai Nerolac Paints Limited announced that at its board meeting held on 4 May 2024, approved the following proposals: Increase capacity of Industrial alkyd and polyester Resin at Sayakha plant of the Company by 460 MT/month; and Increase capacity of Acrylic Resin at Bawal plant of the Company by 390 MT/month. Sayakha Plant: Existing Capacity: 199 MT/Month; Existing capacity utilization: 100%; Proposed capacity Addition: 460 MT/Month; Investment required: INR 201 million; Mode of financing: Internal accruals. Bawal Plant: Existing Capacity: 708 MT/Month; Existing capacity Utilization: 90%; Proposed capacity addition: 390 MT/Month; Investment required: INR 294 million; Mode of financing: Internal accruals.

Rationale: In view of the estimated growth in Automotive Paint industry and the expected rise in demand for Resin, the current capacity addition is being carried out.