I think it has acetone in it because it smells pretty alcoholic. My nails become dry after remove nail polish. I apply cuticle cream or a normal moisturizer on my nails as soon as I remove my nail polish by Lakme nail colour remover. No ingredient list mentioned in this remover so I have no clue what is going on my nails. I just use it because it works to remove nail colours from my nails.
As stated earlier, this nail remover contains ethanol and acetic acid, which is quite harmful for sensitive skin. Moreover it is highly flammable and the solution tends to sublime soon, once the seal is broken.