Kansai Nerolac sells stake in Sri Lankan subsidiary

Kansai Nerolac Paints Limited announced on December 16, 2025, the completion of the sale of its 60% stake in Kansai Paints Lanka (Private) Limited, a Sri Lankan subsidiary. The sale, approved by the board on December 11, 2025, involved the transfer of shares to Atire (Private) Limited, a Sri Lankan entity, with a share sale and purchase agreement executed on the same date.

The total consideration received for the stake was LKR 18,00,000. For the last financial year, Kansai Paints Lanka contributed LKR 2.03 Crores to Kansai Nerolac’s consolidated turnover, representing 0.008%, and had a negative net worth of LKR 6.44 Crores.

Atire (Private) Limited, the buyer, is identified as a group company of Anunine Holdings (Private) Limited, a Sri Lankan conglomerate with diverse operations including packaging, tyre manufacturing, energy, agriculture, recycling, and paper manufacturing. Following this transaction, Kansai Paints Lanka (Private) Limited is no longer a subsidiary of Kansai Nerolac Paints Limited.