JSW Dulux Limited

BSE: JSWDULUX500710ISIN INE133A01011

Consumer Discretionary
Paints
BSE 500

BSE listing

Share price

₹3,198.40+126.55 (+4.12%)

as of 18 Sep 2026

52W high: ₹3,746.70
52W low: ₹2,649.05
Off 52W high: -14.63%
1M return: +3.40%
3M return: -2.97%
6M return: +11.07%
1Y return: -5.83%
20D avg volume: 1,052
50 DMA: ₹3,068.85
200 DMA: ₹3,066.42

Key ratios Consolidated

Market cap: ₹14,566 Cr
Current price: ₹3,198.40
52W high / low: ₹3,746.70 / ₹2,649.05
Face value: ₹10.00
P/E: 7.42
P/B: —
EPS (TTM): ₹430.94
Book value / share: —
ROE: —
ROCE: 89.60%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-269.80 Cr
Interest cover: 196.17
Dividend yield: 1.56%
Dividend / share (TTM): ₹50.00
Payout: 11.60%
Cash conversion cycle: 42.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	965.02	883.27	907.72	834.91	995.11	1,022	1,050	982.29	1,036	973.39	1,033	956.28
	25.59	67.15	14.66	7.72	8.95	2.79	6.01	9.07	9.70	10.27	8.38	8.94
	872.95	780.72	792.83	744.82	881.60	887.31	910.29	859.58	891.69	836.65	889.61	838.29
	635.80	471.17	437.75	440.70	518.61	549.24	509.19	575.13	529.00	522.08	460.67	510.55
	44.15	39.72	47.76	54.35	41.63	47.88	52.28	57.64	54.05	51.77	54.74	54.46
	82.62	75.01	67.41	72.90	97.71	84.41	77.58	86.81	88.62	79.94	82.17	82.76
	2.63	4.30	2.85	2.30	2.66	2.49	3.33	1.49	2.47	3.15	3.21	2.72
	20.41	20.07	18.58	18.32	18.26	22.03	23.41	22.20	21.81	21.83	20.07	21.11
	163.13	156.55	178.98	161.10	194.13	197.60	195.68	195.85	205.14	185.16	206.51	202.44
	117.66	169.70	129.56	97.81	122.46	137.61	146.19	131.77	154.28	147.01	151.52	126.93
	0.00	0.00	-28.26	1,874	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	117.66	169.70	101.29	1,972	122.46	137.61	146.19	131.77	154.28	147.01	151.52	126.93
	37.94	43.99	26.99	289.19	31.45	29.18	37.61	33.91	39.67	38.34	37.69	32.70
	79.72	125.71	74.31	1,683	91.01	108.43	108.58	97.86	114.61	108.67	113.82	94.23
	17.51	27.60	16.32	369.51	19.98	23.80	23.85	21.49	25.17	23.87	24.99	20.70
Key metrics
	140.70	194.07	122.72	1,993	143.38	162.13	172.93	155.46	178.56	171.99	174.80	150.76
	14.60%	22.00%	13.50%	238.70%	14.40%	15.90%	16.50%	15.80%	17.20%	17.70%	16.90%	15.80%
	8.30%	14.20%	8.20%	201.60%	9.10%	10.60%	10.30%	10.00%	11.10%	11.20%	11.00%	9.90%
	—	6.60%	—	83.00%	—	9.10%	—	—	—	—	—	—
	-3.00%	-13.60%	-13.60%	-15.00%	-4.00%	5.00%	1.70%	2.70%	—	—	—	—
	-12.40%	15.90%	-31.60%	1,619.60%	-20.60%	-0.20%	-4.60%	3.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	3,591	3,599	4,091	3,962	3,802	3,149	2,421	2,662	2,918	2,793	3,134
	115.12	98.49	27.61	35.78	27.35	22.71	23.25	37.62	42.22	43.79	49.31
	3,191	3,178	3,549	3,424	3,374	2,807	2,166	2,371	2,646	2,556	2,845
	1,985	1,868	2,163	2,009	2,081	1,775	1,166	1,201	1,499	1,321	1,274
	185.98	183.43	211.86	208.27	201.59	193.90	173.73	267.50	206.50	180.80	—
	297.94	313.01	337.39	328.10	301.07	264.05	251.76	255.75	265.61	280.21	262.45
	12.08	12.12	9.76	12.49	14.06	14.46	10.25	9.34	4.45	3.50	3.19
	77.38	75.26	89.45	82.31	82.46	75.94	75.55	79.01	65.16	—	56.51
	659.76	668.90	794.29	778.65	685.76	573.63	506.07	584.37	619.34	—	630.98
	514.73	519.58	569.94	573.00	455.90	364.77	278.21	328.44	314.93	280.76	338.49
	1,846	1,846	0.00	0.00	0.00	2.00	0.00	-5.23	0.65	2.00	3.87
	2,361	2,365	569.94	573.00	455.90	366.77	278.21	323.21	315.58	282.76	342.36
	398.11	391.71	140.46	146.42	120.79	76.71	70.57	85.75	104.58	77.50	95.34
	1,963	1,974	429.49	426.58	335.12	290.06	207.64	237.46	211.00	400.14	247.02
	430.94	433.42	94.31	93.68	73.58	63.70	45.60	52.13	45.96	—	—
Key metrics
	2,450	2,453	669.15	667.80	552.42	457.17	364.01	411.56	385.19	286.26	402.06
	68.23%	68.20%	16.40%	16.90%	14.50%	14.50%	15.00%	15.50%	13.20%	10.20%	12.80%
	54.65%	54.80%	10.50%	10.80%	8.80%	9.20%	8.60%	8.90%	7.20%	14.30%	7.90%
	—	89.60%	37.80%	—	—	—	—	—	—	—	—
	—	-12.00%	3.30%	4.20%	20.80%	30.00%	-9.00%	-8.80%	4.50%	-10.90%	—
	—	359.60%	0.70%	27.30%	15.50%	39.70%	-12.60%	12.50%	-47.30%	62.00%	—
	—	46.30	204.50	—	—	—	—	—	—	—	—
	—	0.05	0.72	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	-269.80	-248.17	—	—	—	—	—	—	—	—
	—	42.3	20.9	—	—	—	—	—	—	—	—
Balance sheet
	—	3,795	2,903	—	—	—	—	—	—	—	—
	—	1,787	1,672	—	—	—	—	—	—	—	—
	—	269.80	248.17	—	—	—	—	—	—	—	—
	—	602.91	584.91	—	—	—	—	—	—	—	—
	—	571.10	604.73	—	—	—	—	—	—	—	—
	—	276.69	173.13	—	—	—	—	—	—	—	—
	—	460.53	479.41	—	—	—	—	—	—	—	—
	—	756.45	956.36	—	—	—	—	—	—	—	—
	—	1,143	1,369	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	2,452	1,330	—	—	—	—	—	—	—	—
Cash flow
	—	93.32	311.01	—	—	—	—	—	—	—	—
	—	803.67	122.66	—	—	—	—	—	—	—	—
	—	-875.43	-459.51	—	—	—	—	—	—	—	—
	—	47.02	106.51	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	965.02	883.27	907.72	834.91	995.11	1,022	1,050	982.29	1,036	973.39	1,033	956.28
	81.27	1.95	14.66	7.72	8.95	2.79	6.01	9.07	9.70	10.27	8.38	8.94
	872.93	780.92	793.49	744.87	881.60	887.51	910.29	859.58	891.69	836.55	889.61	838.29
	635.80	471.17	437.75	440.70	518.61	549.24	509.19	575.14	528.99	522.08	460.67	510.55
	44.15	39.72	47.76	54.35	41.63	47.88	52.28	57.64	54.05	51.77	54.74	54.46
	82.21	74.61	67.20	72.56	97.51	84.21	77.28	86.50	88.42	79.75	81.97	82.46
	2.63	4.30	2.85	2.30	2.66	2.49	3.33	1.49	2.47	3.16	3.21	2.72
	20.41	20.07	18.58	18.32	18.26	21.93	23.41	22.20	21.81	21.83	20.07	21.11
	163.52	157.15	179.85	161.49	194.33	198.10	195.98	196.16	205.34	185.26	206.71	202.74
	173.36	104.30	128.90	97.76	122.46	137.41	146.19	131.77	154.28	147.11	151.52	126.93
	0.00	0.00	-27.86	1,874	0.00	0.00	—	—	—	—	—	—
	173.36	104.30	101.03	1,972	122.46	137.41	146.19	131.77	154.28	147.11	151.52	126.93
	37.84	34.41	26.91	289.24	31.45	29.89	37.61	33.91	39.67	38.34	37.69	32.70
	135.52	69.89	74.13	1,683	91.01	107.52	108.58	97.86	114.61	108.78	113.82	94.23
	29.76	15.35	16.27	369.49	19.98	23.60	23.85	21.49	25.17	23.89	24.99	20.70
Key metrics
	196.40	128.67	122.46	1,993	143.38	161.83	172.93	155.46	178.56	172.10	174.80	150.76
	20.40%	14.60%	13.50%	238.70%	14.40%	15.80%	16.50%	15.80%	17.20%	17.70%	16.90%	15.80%
	14.00%	7.90%	8.20%	201.50%	9.10%	10.50%	10.30%	10.00%	11.10%	11.20%	11.00%	9.90%
	—	4.20%	—	83.10%	—	9.10%	—	—	—	—	—	—
	-3.00%	-13.60%	-13.60%	-15.00%	-4.00%	5.00%	1.70%	2.70%	—	—	—	—
	48.90%	-35.00%	-31.70%	1,619.50%	-20.60%	-1.20%	-4.60%	3.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	3,591	3,599	4,091	3,962	3,802	3,149	2,421	2,662	2,918	2,793	3,134
	105.60	33.27	27.61	35.78	27.35	22.71	23.25	37.62	42.22	43.79	49.31
	3,192	3,179	3,549	3,424	3,374	2,807	2,166	2,371	2,646	2,555	2,845
	1,985	1,868	2,163	2,009	2,081	1,775	1,166	1,201	1,499	1,321	1,274
	185.98	183.43	211.86	208.27	201.59	193.90	173.73	267.50	206.53	180.80	—
	296.58	311.93	336.42	327.10	300.18	263.18	251.09	255.08	265.04	276.32	258.38
	12.08	12.12	9.76	12.50	14.06	14.46	10.25	9.34	4.45	3.50	3.19
	77.38	75.26	89.32	82.31	82.46	75.94	75.54	79.01	65.16	58.22	56.51
	662.01	671.00	795.59	779.55	686.65	574.61	506.79	585.09	619.86	617.80	635.05
	504.32	453.34	569.74	573.10	455.86	364.66	278.17	328.39	314.91	281.21	338.49
	1,846	1,846	0.00	—	—	2.00	—	-5.23	0.65	2.00	3.87
	2,351	2,300	569.74	573.10	455.86	366.66	278.17	323.16	315.56	283.21	342.36
	388.40	382.03	141.13	146.42	120.79	76.70	70.57	85.75	104.58	77.50	95.34
	1,962	1,918	428.61	426.68	335.08	289.96	207.60	237.41	210.98	400.57	247.02
	430.87	421.10	94.11	93.70	73.58	63.68	45.60	52.13	45.96	—	—
Key metrics
	2,440	2,387	668.82	667.91	552.38	457.06	363.96	411.51	385.17	344.93	402.06
	67.95%	66.30%	16.30%	16.90%	14.50%	14.50%	15.00%	15.50%	13.20%	12.40%	12.80%
	54.64%	53.30%	10.50%	10.80%	8.80%	9.20%	8.60%	8.90%	7.20%	14.30%	7.90%
	—	89.10%	37.80%	—	—	—	—	—	—	—	—
	—	-12.00%	3.30%	4.20%	20.80%	30.00%	-9.00%	-8.80%	4.50%	-10.90%	—
	—	347.40%	0.50%	27.30%	15.60%	39.70%	-12.60%	12.50%	-47.30%	62.20%	—
	—	36.53	204.26	—	—	—	—	—	—	—	—
	—	0.04	0.73	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	-203.10	-247.22	—	—	—	—	—	—	—	—
	—	42.6	20.9	—	—	—	—	—	—	—	—
Balance sheet
	—	3,728	2,902	—	—	—	—	—	—	—	—
	—	1,720	1,671	—	—	—	—	—	—	—	—
	—	203.10	247.22	—	—	—	—	—	—	—	—
	—	602.91	584.91	—	—	—	—	—	—	—	—
	—	571.10	604.73	—	—	—	—	—	—	—	—
	—	276.68	173.11	—	—	—	—	—	—	—	—
	—	460.43	479.31	—	—	—	—	—	—	—	—
	—	753.55	956.66	—	—	—	—	—	—	—	—
	—	1,134	1,369	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	2,394	1,329	—	—	—	—	—	—	—	—
Cash flow
	—	83.55	310.76	—	—	—	—	—	—	—	—
	—	747.70	122.56	—	—	—	—	—	—	—	—
	—	-875.43	-459.51	—	—	—	—	—	—	—	—
	—	47.02	106.50	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -1.81%
Sales CAGR 5Y: +8.25%
Sales CAGR 10Y: —
Profit CAGR 3Y: +78.87%
Profit CAGR 5Y: +55.99%
Profit CAGR 10Y: —
Sales YoY (TTM): -11.34%
Profit YoY (TTM): +384.54%

Consolidated

Sales CAGR 3Y: -1.81%
Sales CAGR 5Y: +8.25%
Sales CAGR 10Y: —
Profit CAGR 3Y: +80.59%
Profit CAGR 5Y: +56.89%
Profit CAGR 10Y: —
Sales YoY (TTM): -11.34%
Profit YoY (TTM): +383.53%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 61.20%

Holder	Type	Holding	Previous	Change
JSW PAINTS LIMITED	Promoter	61.20%	—	—
Hdfc Mutual Fund - Hdfc Childrens Fund	Public	7.16%	—	—
Icici Prudential Value Fund	Public	3.60%	—	—
Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund	Public	2.18%	—	—
Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund	Public	2.07%	—	—
Goldman Sachs Funds - Goldman Sachs India Equity Portfolio	Public	1.89%	—	—
The New India Assurance Company Limited	Public	1.72%	—	—
Tata Mutual Fund - Tata Small Cap Fund	Public	1.29%	—	—
Investor Education And Protection Fund Authority Ministry Of Corporate Affairs	Public	1.01%	—	—
PANTER B.V.	Promoter	0.00%	—	—
AKZO NOBEL CHEMICALS INTERNATIONAL B.V.	Promoter	0.00%	—	—
AKZO NOBEL COATINGS INTERNATIONAL B.V	Promoter	0.00%	—	—
AKZO NOBEL ( C ) HOLDINGS B.V.	Promoter	0.00%	—	—
IMPERIAL CHEMICAL INDUSTRIES LTD	Promoter	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Intimation of Schedule of Analyst/Institutional Investor Meeting15 Sep 2026 · Company Update / Analyst / Investor Meet
Attached details of a show cause notice received from Karnataka GST Department.15 Sep 2026 · Company Update / General
Attached please find details of a show cause notice received from Karnataka GST Department.7 Sep 2026 · Company Update / General
Attached details of a refund order received from Karnataka GST Department.7 Sep 2026 · Company Update / General
Attached please find credit rating received from ICRA Limited.4 Sep 2026 · Company Update / Credit Rating
Attached details of a show cause notice received from Gujarat GST Department1 Sep 2026 · Company Update / General
Attached details of a show cause notice received from Madhya Pradesh GST Dept.26 Aug 2026 · Company Update / General
Attached details of an order received from Telangana GST Dept.25 Aug 2026 · Company Update / General
Attached copy of newspaper publication pertaining to Postal Ballot Notice22 Aug 2026 · Company Update / Newspaper Publication
Attached please find Notice of Postal ballot dated 11th August 202621 Aug 2026 · AGM/EGM / Postal Ballot
Attached intimation regarding resignation of Mr Rohit Ghanshyamdas Totla, Wholetime Director of the Company21 Aug 2026 · Company Update / Resignation of Director
Attached details of a show cause notice received from Odisha GST Department19 Aug 2026 · Company Update / General
Attached earning call transcript.18 Aug 2026 · Company Update / Earnings Call Transcript
Attached details of an order received from the CESTAT Department18 Aug 2026 · Company Update / General
Attached newspaper publication regarding Special Window14 Aug 2026 · Company Update / Newspaper Publication
Attached intimation regarding resignation of Mr. Krishna Rallapalli, Wholetime Director and CFO14 Aug 2026 · Company Update / Resignation of Director
Attached intimation regarding resignation of Wholetime Director and CFO14 Aug 2026 · Company Update / Resignation of Chief Financial Officer (CFO)
Attached outcome and audio link of the investor call held today.12 Aug 2026 · Company Update / Analyst / Investor Meet
Attached an update12 Aug 2026 · Company Update / General
Attached copies of newspapers publishing extract of June quarter results.12 Aug 2026 · Company Update / Newspaper Publication
Attached investor presentation for the call scheduled today at 3pm12 Aug 2026 · Company Update / Investor Presentation
Attached regulation 30 disclosure pertaining to stock split subject to shareholders approval.11 Aug 2026 · Company Update / General
Attached intimation about board approval for amendment to Memorandum and Articles of Association, subject to shareholders approval.11 Aug 2026 · Company Update / Amendments to Memorandum & Articles of Association
Attached the results and press release issued after the board meeting held today, 11th August 202611 Aug 2026 · Result / Financial Results
Attached is the outcome of board meeting held today.11 Aug 2026 · Board Meeting / Outcome of Board Meeting
Attached details of an order received from Tamil Nadu GST Dept.7 Aug 2026 · Company Update / General
Attached intimation of investor meet.6 Aug 2026 · Company Update / Analyst / Investor Meet
Attached details of a show cause notice received from Karnataka GST Dept.5 Aug 2026 · Company Update / General
Attached details of show cause notice received from Delhi GST Dept5 Aug 2026 · Company Update / General
JSW Dulux Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve Update on board meeting5 Aug 2026 · Board Meeting / Board Meeting
Attached an intimation regarding cessation of an Independent Director on completion of tenure.3 Aug 2026 · Company Update / Cessation
Please find attached intimation regarding completion of tenure of Mr. Hemant Sahai as an Independent Director of the Company.3 Aug 2026 · Company Update / Change in Directorate
JSW Dulux Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve the unaudited financial results for ....30 Jul 2026 · Board Meeting / Board Meeting
Pls find attached details of an appeal order received from Karnataka GST Dept.20 Jul 2026 · Company Update / General
Please find attached transcript of 72nd AGM of the Company.16 Jul 2026 · AGM/EGM / AGM
Please find attached our response to the clarification sought by the Exchange.14 Jul 2026 · Others
The Exchange has sought clarification from JSW Dulux Ltd with reference to the media report appearing on https://economictimes.indiatimes.com dated July 13, 2026, (Link: https://economictimes.indiatimes.com/news/company/corporate-trends/nippon-paint-offers-8-6-billion-for-akzonobel-unit-bloomberg-news-reports/articleshow/132354359.cms) ....13 Jul 2026 · Company Update / Clarification
Intimation regarding shareholders approval to the appointment of statutory auditor11 Jul 2026 · Company Update / Appointment of Statutory Auditor/s
Attached please find the Scrutinizer''s Report11 Jul 2026 · AGM/EGM / AGM
Please find attached the voting results of the 72nd AGM11 Jul 2026 · AGM/EGM / AGM

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 50.0000	3 Jul 2026	3 Jul 2026	—
Special Dividend - Rs. - 156.0000	11 Aug 2025	11 Aug 2025	—
Final Dividend - Rs. - 30.0000	25 Jul 2025	25 Jul 2025	—
Interim Dividend - Rs. - 70.0000	19 Nov 2024	20 Nov 2024	—
Final Dividend - Rs. - 25.0000	25 Jul 2024	—	—

Board meetings

11 Aug 2026 Board Meeting - Financial Results