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Kansai Nerolac Paints' Q3 FY26 consolidated net revenue rose 3.1%, but PBT before exceptional items dipped 3.7%. Decorative sales saw November-December recovery after a slow October, while industrial business had strong double-digit growth, boosted by automotive. Management upholds its 13-14% EBITDA margin target despite heavy investments in expansion. The company prioritizes premium product mix amidst intense competition, believing India's paint market has significant long-term growth potential towards premium segments. Subsidiaries Nerofix & Nepal performing well; Bangladesh remains challenging.