JSW Dulux share price
NSE: JSWDULUXBSE: 500710Consumer DurablesSmall Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹276.50.
29 Oct: open ₹276.00, high ₹287.20, low ₹270.20
- Next results date: the board meets on 4 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹12,578 Cr464th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 6.41
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,846 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 107.86
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 5.13
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.81%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 103.8%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,846 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 6.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 16.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day. Volume in the glossary
- 14,48,362
About JSW Dulux
JSW Dulux Limited makes and sells paints and coatings in India: decorative paints for homes and commercial buildings, and industrial coatings for automotive, marine, protective, coil and packaging uses.123 It sells to homeowners through dealers, distributors and painters, works with builders and contractors on large projects, and supplies industrial users.4
Its brands include Dulux, Sikkens, Lesonal and International, and its decorative ranges include Dulux Velvet Touch, Dulux Weathershield and Sadolin.56 It reports its results as a single business segment.3 Its registered office is in Kolkata, and its corporate office has been at JSW Centre in Mumbai since 1 Apr 2026.7 It runs 1 research and development centre, at Thane, and spent ₹18.8 crore on research and development in the year to Mar 2026.8910
It was incorporated in 1954.11 On 1 Jul 2025 it completed the purchase of the intellectual property rights for its decorative paints business, including the Dulux brand, in India, Bangladesh, Bhutan and Nepal from the AkzoNobel group, its promoter at the time; the same month it sold its powder coatings business and international research centre to an AkzoNobel company.121314
On 10 Dec 2025, JSW Paints Limited, part of the JSW Group, completed the acquisition of a 61.2% stake and became the company's promoter and holding company, and the company took its present name on 11 Mar 2026.151614 Parth Jindal, Managing Director of JSW Paints, has chaired the board since January 2026, and Rajiv Rajgopal has been Joint Managing Director and CEO since then.17
JSW Dulux key points
Results
- In the year to Mar 2026, consolidated revenue from operations was ₹3,599.2 crore, EBITDA (earnings before interest, tax, depreciation and amortisation) before one-time items ₹508.5 crore, and profit after tax ₹1,973.8 crore, which includes ₹1,845.9 crore of one-time items.1819
- The company says its figures for the year to Mar 2026 are not comparable with the year before because of a slump sale (the sale of a whole business as a going concern) during the year.19
- In the quarter to Jun 2026, consolidated net revenue was ₹965 crore, down 2.8% from ₹993.1 crore as reported, and up 18.8% from ₹812 crore on the company's provisional, unaudited like-for-like basis, which leaves out carved-out and AkzoNobel-retained business; volume rose 25%.2021
- In the quarter to Jun 2026, the EBITDA margin was 11.9%. On a standalone basis, profit after tax was ₹135.5 crore, including ₹55.9 crore of dividend from ICI India Research and Technology Centre and ₹21.5 crore of interest on an income tax refund.2223
Market position
- The company puts its market share at 5% in decorative paints and 7% in industrial paints.24
Where revenue comes from
- Exports were 4% of turnover in the year to Mar 2026, and the company served 24 states in India and 4 countries abroad.25
Plants and capacity
- The company has 5 manufacturing sites with a combined capacity of 305 million litres a year (MLPA), at Hyderabad, Bengaluru, Malanpur in Madhya Pradesh, Mohali and Navi Mumbai.2426
- Under Project Akshaya, its integration with JSW Paints, the company makes JSW Paints products at one of its own factories and JSW Dulux products at a JSW Paints plant; the programme realised ₹2.4 crore of synergies (cost savings) in the quarter to Jun 2026.2728
- The company stated in its annual report for the year to Mar 2026 that it plans more capital spending at its Bengaluru plant and new filling lines to add capacity; capital expenditure was ₹47 crore in that year.293031
Customers and partners
- In automotive coatings, the company has an exclusive partnership with JSW MG Motor India, which it describes as now part of its group, and an exclusive partnership with Mahindra for car interior coatings.332734
- The company is the recommended paint partner for Porsche India's repair network, and its marine business has a long-standing association with the Indian Navy for anti-corrosive and anti-fouling coatings.30
- No single customer accounted for more than 10% of revenue in the year to Mar 2026.35
What the company expects
- On its earnings call of 12 Aug 2026, the company said that, given crude prices, it expects its EBITDA margin to be in the range of 13% to 15%, without stating a period.36
- On its earnings call of 12 Aug 2026, the company said it plans to take its active presence of about 3,400 to 3,500 towns to about 4,500 in what it called this year, and to move about 20 top towns to direct or hybrid models.3738
- In its presentation of 12 Aug 2026, the company said it aims to be a top 2 player in automotive and specialty coatings and to lead in marine and protective coatings by 2031.39
- On its earnings call of 12 Aug 2026, the company said its ERP (core business software) migration is planned by what it called the end of the year, moving it off systems based on AkzoNobel's, used under a limited-period transition services agreement.40
Litigation and regulatory matters
- In an exchange filing of 19 Oct 2026, the company said a Karnataka GST order cut a demand over input tax credit (credit for GST paid on purchases) for April 2020 to March 2021 from ₹118,33,32,869 to ₹42,04,21,825; it is responding.41
- In an exchange filing of 12 May 2026, the company said an income tax order for assessment year 2023-24 (the tax year after the income year) set a demand of ₹36.46 crore including interest; it intends to challenge the order and the penalty proceedings.42
- Appeal orders annulled a Karnataka GST demand of ₹14,75,83,468 for the tax period 2019-20, the company said on 21 Sep 2026, and a Madhya Pradesh GST demand of ₹77,13,373 for July 2022 to March 2023, it said on 14 Oct 2026.4344
Last updated
All 44 sources, each with its page
- 1. Annual report, 16 Jun 2026, page 7
- 2. Annual report, 16 Jun 2026, page 9
- 3. Annual report, 16 Jun 2026, page 114
- 4. Annual report, 16 Jun 2026, page 37
- 5. Investor presentation, 12 Aug 2026, page 8
- 6. Annual report, 16 Jun 2026, page 8
- 7. Annual report, 16 Jun 2026, page 16
- 8. Annual report, 16 Jun 2026, page 4
- 9. Annual report, 16 Jun 2026, page 22
- 10. Annual report, 16 Jun 2026, page 10
- 11. Annual report, 16 Jun 2026, page 36
- 12. Annual report, 16 Jun 2026, page 65
- 13. Annual report, 16 Jun 2026, page 14
- 14. Annual report, 16 Jun 2026, page 25
- 15. Annual report, 16 Jun 2026, page 17
- 16. Annual report, 16 Jun 2026, page 3
- 17. Annual report, 16 Jun 2026, page 13
- 18. Annual report, 16 Jun 2026, page 4
- 19. Annual report, 16 Jun 2026, page 14
- 20. Investor presentation, 12 Aug 2026, page 16
- 21. Earnings call, 12 Aug 2026, page 4
- 22. Earnings call, 12 Aug 2026, page 5
- 23. Investor presentation, 12 Aug 2026, page 14
- 24. Investor presentation, 12 Aug 2026, page 8
- 25. Annual report, 16 Jun 2026, page 37
- 26. Annual report, 16 Jun 2026, page 33
- 27. Earnings call, 12 Aug 2026, page 11
- 28. Investor presentation, 12 Aug 2026, page 17
- 29. Annual report, 16 Jun 2026, page 16
- 30. Annual report, 16 Jun 2026, page 9
- 31. Annual report, 16 Jun 2026, page 10
- 32. Annual report, 16 Jun 2026, page 7
- 33. Annual report, 16 Jun 2026, page 18
- 34. Annual report, 16 Jun 2026, page 19
- 35. Annual report, 16 Jun 2026, page 114
- 36. Earnings call, 12 Aug 2026, page 5
- 37. Earnings call, 12 Aug 2026, page 6
- 38. Earnings call, 12 Aug 2026, page 7
- 39. Investor presentation, 12 Aug 2026, page 9
- 40. Earnings call, 12 Aug 2026, page 12
- 41. Exchange filing, 19 Oct 2026, page 2
- 42. Exchange filing, 12 May 2026, page 2
- 43. Exchange filing, 21 Sep 2026, page 2
- 44. Exchange filing, 14 Oct 2026, page 2
Results
Consolidated; ₹ crore.JSW Dulux quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −11.3%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +383.5%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹965 Crup 9.26%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹80 Crdown 36.58%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 8.3%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 982 | 1,050 | 1,022 | 995 | 835 | 908 | 883 | 965 |
| Net profit | 98 | 109 | 108 | 91 | 1,683 | 74 | 126 | 80 |
| Net margin | 10.0% | 10.3% | 10.6% | 9.1% | 201.6% | 8.2% | 14.2% | 8.3% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹3,599 Crdown 12.03%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,974 Crup 359.56%
- Net margin
- 54.8%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,134what Revenue, Mar 2017, includes. This period's revenue includes excise duty of ₹310 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,793 | 2,918 | 2,662 | 2,421 | 3,149 | 3,802 | 3,962 | 4,091 | 3,599 |
| Net profit | 247 | 400 | 211 | 237 | 208 | 290 | 335 | 427 | 429 | 1,974 |
| Net margin | 7.9% | 14.3% | 7.2% | 8.9% | 8.6% | 9.2% | 8.8% | 10.8% | 10.5% | 54.8% |
Business segments
One segment, Paints, carries all the revenue in the year to Mar 2026.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.JSW Dulux PE ratio and valuation
At or below today's level on 91% of 2,479 trading days over the last 10 years.
At or below today's level on 0.1% of 1,977 trading days since Nov 2018.
At or below today's level on 42% of 2,448 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −13.7% | +359.6% | −82.8% | 7.2% |
| 3 years | +11.7% | +80.6% | −40.6% | 4.4% |
| 5 years | +8.4% | +56.9% | −33.5% | 4.0% |
Mutual fund holdings
49 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 14 of the 22 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 49 funds holding JSW Dulux
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 10
- CutCut. Funds that held fewer shares than at the end of the month before.
- 12
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 26
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 40
| Fund | |||
|---|---|---|---|
| 17,44,448 | 1.32% | ₹537.1 Cr | |
| 13,02,657 | 0.70% | ₹401.1 Cr | |
| 9,13,852 | 0.52% | ₹281.4 Cr | |
| 7,41,494 | 0.82% | ₹228.3 Cr | |
| 5,75,000 | 0.91% | ₹177.0 Cr | |
| 4,63,675 | 1.38% | ₹142.8 Cr | |
| 3,00,000 | 0.44% | ₹92.4 Cr | |
| 2,87,484 | 0.67% | ₹88.5 Cr | |
| 1,91,928 | 0.33% | ₹59.1 Cr | |
| 1,81,800 | 0.77% | ₹56.0 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.JSW Dulux insider trading
- Others0 purchases, 1 saleNo purchase₹1,296 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹1,296 Cr
- Promoters and promoter group: no market trade · 2 off-market moves
JSW Dulux competitors and peers
Paints, 10 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to JSW Dulux in market cap. 1 company in the table last traded before then: its row is priced on its last trade.Consumer durables companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2,20,807 | 46.34 | 10.33 | +9.8% | +32.5% | 23.4% | 24.7% | 1.19% | |
| 54,400 | 44.72 | 7.87 | +5.2% | +6.6% | 18.6% | 20.0% | 0.86% | |
| 14,483 | 24.13 | 2.16 | +5.2% | −47.0% | 9.1% | 11.3% | 1.40% | |
| 4,830 | 29.75 | 4.19 | +9.5% | +14.7% | 14.9% | 18.3% | 0.49% | |
| 2,361 | 35.24 | 4.97 | +24.1% | +26.3% | 16.3% | 17.6% | 0.48% | |
| 677 | – | 3.39 | −12.0% | – | – | – | 0.00% | |
| 124 | – | 0.69 | −7.9% | – | – | −1.0% | 0.00% | |
| 123 | 11.87 | 2.63 | +15.1% | +21.7% | 24.3% | – | 2.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.JSW Dulux dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 3 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹50.00 |
| 11 Aug 2025 | Special | ₹156.00 |
| 25 Jul 2025 | Final | ₹30.00 |
| 19 Nov 2024 | Interim | ₹70.00 |
| 25 Jul 2024 | Final | ₹25.00 |
| 16 Feb 2024 | Interim | ₹50.00 |
Latest announcements
Routine notices left out.JSW Dulux announcements
Oct 2026
22 Oct
16 Oct · Board meeting
1 Oct · Legal
1 Oct · Management
JSW Dulux share price by year
Each calendar year to 2025.JSW Dulux share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 317.73 | −11.5% | 387.25 | 309.95 |
| 2024 | 358.88 | +37.6% | 451.85 | 228.63 |
| 2023 | 260.75 | +17.5% | 289.99 | 212.58 |
| 2022 | 221.96 | +8.5% | 235.18 | 170.16 |
| 2021 | 204.55 | −14.8% | 248.06 | 196.59 |
| 2020 | 239.95 | +21.7% | 247.83 | 176.66 |
| 2019 | 197.12 | +12.7% | 222.43 | 160.08 |
| 2018 | 174.93 | −4.6% | 198.30 | 149.32 |
| 2017 | 183.44 | +30.9% | 203.70 | 132.98 |
| 2016 | 140.18 | −0.2% | 172.00 | 124.08 |
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 280.40 | 281.50 | 272.80 | 276.50 | 275.18 | 11,84,101 | 91.8% |
| 27 Oct 2026 | 279.00 | 283.20 | 273.00 | 280.40 | 278.73 | 1,73,858 | 36.9% |
| 26 Oct 2026 | 281.00 | 283.70 | 271.10 | 278.90 | 276.54 | 2,30,642 | 43.4% |
| 23 Oct 2026 | 305.00 | 305.00 | 280.00 | 286.60 | 286.79 | 2,54,136 | 50.9% |
| 22 Oct 2026 | 300.00 | 304.80 | 284.50 | 302.20 | 299.04 | 1,92,332 | 54.9% |
| 21 Oct 2026 | 3,058.60 | 3,087.90 | 2,966.00 | 2,994.80 | 3,002.58 | 59,315 | 74.8% |
| 19 Oct 2026 | 3,094.00 | 3,128.50 | 3,026.00 | 3,058.60 | 3,072.31 | 28,270 | 40.9% |
| 16 Oct 2026 | 3,037.00 | 3,070.00 | 3,024.00 | 3,045.00 | 3,045.84 | 20,922 | 60.5% |
| 15 Oct 2026 | 3,097.00 | 3,097.00 | 3,025.00 | 3,036.60 | 3,055.08 | 19,695 | 60.1% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 22 Oct 2026 | Split | 0.1000 | Each share became 10. |
Company details
- NSE symbol
- JSWDULUX
- BSE code
- 500710
- ISIN
- INE133A01029
- Industry
- Consumer Durables
- Former symbols
- AKZOINDIA, ICI
- Website
- www.akzonobel.co.in
- CIN
- L24292WB1954PLC021516
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1954
- Registered office
- 801A, South City Business Park, 770, Anandapur, Eastern Metropolitan Bypass, Near Fortis Hospital, Kolkata 700701, West Bengal
- Share registrar
- C B Management Services Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments