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Prices as of 8 Oct 2026 close · Not investment advice

JSW Dulux Limited

NSE: JSWDULUXPaints

Share price

₹2,989.10

-1.29% close of 8 Oct 2026

Market cap ₹13,750 CrP/E 35.8

Business score

How strong the business is, in one number. The parts behind it are in Pro.

47

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹13,750 Cr

P/E ratio

35.8

P/B ratio

5.6

ROCE

22.7%

ROE

19.1%

Dividend yield

1.6%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹3,633.9052-week low ₹2,714.50

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 11.5% over the past year. Meanwhile what it keeps of every 100 rupees of sales improved from 13.4% to 13.7% over the last four years.

Whether it grew faster than its sector

It grew 8.6% a year against a sector median of 11.3% — 2.7 percentage points slower.

Room to re-rate, or risk of de-rating

At 35.8× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 34.2×, across 5 companies. It is against its own five-year median of 34.3×, the 64th percentile of its own range.

Whether growth justifies the valuation

Priced at 17.9 times its growth rate, on earnings growth of 2%.

Profit growthPrice per ₹1 profitPer 1% growth
JSW Dulux Limited — this one2%/yr35.8×₹17.9
Asian Paints2%/yr45.5×₹22.8
Berger Paints India10%/yr44.6×₹4.5
Kansai Nerolac Paints Limited7%/yr22.7×₹3.2
Indigo Paints Limited4%/yr29.9×₹7.5
Sirca Paints India Limited12%/yr34.2×₹2.9

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Paints), it ranks 2 of 8 on returns, 7 of 8 on growth, 5 of 8 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 22.7% on capital, ahead of 75% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Roughly — Over the last five years it made ₹1498 crore of cash from the business and spent about as much on plant and equipment. And the profit is real: of every 100 rupees it reported over 12 years, about 55 arrived as cash. Its cash comes back more slowly than it used to: it went from being waiting 14 days for its cash to waiting 32 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Volumes grew 25% but profit margin fell to 11.9%, below the 13-15% now guided for the year

Announced 11 Aug 2026 · Consolidated · Unaudited

Revenue

₹965 Cr

Revenue vs last year

-3.0%

Revenue vs last quarter

+9.3%

Net profit

₹80 Cr

Profit vs last year

-12.4%

Profit vs last quarter

-36.7%

Net margin

8.3%

EPS

₹17.51

Earnings call transcript · 12 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹13,750 Cr
Prev close
₹2,989.10
52w High
₹3,745
52w Low
₹2,659
Enterprise value
₹13,505 Cr
Beta
0.4
Price CAGR 1y
-10.0%
Price CAGR 3y
7.0%
Price CAGR 5y
6.0%
Price CAGR 10y
6.0%

Ratios

Return on assets
52.0%
PEG ratio
17.7
P/E ratio
35.8
P/B ratio
5.6
EV / EBITDA
27.6
Industry P/E
34.7
ROCE
22.7%
ROCE 5y average
34.0%
ROE
19.1%
Debt / Equity
0.0
Interest coverage
198.2
Dividend yield
1.6%
ROE 3y average
27.0%
ROE last year
19.0%

Annual P&L

Annual revenue
₹3,599 Cr
Annual profit
₹1,974 Cr
Operating margin
14.0%
Net profit margin
54.8%
EBITDA margin
14.1%
Sales growth 3y
-1.8%
Sales growth 5y
8.3%
Profit growth 3y
2.0%
Profit growth 5y
12.0%
EPS
₹433
Sales growth TTM
-12.0%
Profit growth TTM
-5.0%
Dividend payout
47.0%

Quarter P&L

Sales latest quarter
₹965 Cr
Profit latest quarter
₹80 Cr
YoY quarterly sales growth
-3.0%
YoY quarterly profit growth
-12.1%
OPM latest quarter
11.9%

Balance Sheet

Book Value
₹533
Face Value
₹10.0
Total debt
₹79 Cr
Total cash
₹324 Cr
Borrowings
₹79 Cr
Reserves / Equity
52.3

Cash Flow

Operating cash flow
₹93 Cr
Free cash flow
-₹1,022 Cr
FCF yield
-7.5%
Net cash flow
₹22 Cr

Shareholding

Promoter holding
61.2%
FII holding
8.5%
DII holding
22.0%
Public holding
8.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Asian Paints2,372.1046.62,27,5311.161,559.540.010,541.917.926.3
Berger Paints463.9044.054,0910.86405.018.23,583.812.021.6
Kansai Nerolac192.4024.115,5621.30228.44.82,373.69.812.0
JSW Dulux3,028.1035.913,7901.6579.7-12.4965.0-3.022.7
Indigo Paints1,060.2030.65,0610.4742.460.7350.118.717.9
Sirca Paints413.7035.02,3500.4816.214.1130.013.820.3
Shalimar Paints77.086450.00-21.3-26.8137.7-10.9-7.9
Median413.7035.05,0610.8642.414.1350.112.020.3

Competes with: Asian Paints, Berger Paints India, Indigo Paints Limited, Kamdhenu Ventures Limited, Kansai Nerolac Paints Limited, Shalimar Paints Limited, Sirca Paints India Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9999561,0339731,0369821,0511,014995835894883965
Expenses837814866812867836884855861724758756850
Material Cost549519441438471636
Change in Inventories-168.60-4.854014-76
Purchases of Stock-in-Trade484254484044
Employee Cost849873677583
Other Expenses198194161179157163
Operating Profit162142166162169146167159134111136127115
OPM %16151617161516161413151412
Other Income898101096391,882-146726
Exceptional items (within Other Income)001,874-2800
Interest3333223232343
Depreciation19212022222223221818192020
Profit before tax1481271521471541321461381221,972101170118
Tax %26262526262626212615272632
Net Profit1109411410911598109108911,6837412680
EPS in Rs242125242522242420370162818
Diluted EPS in Rs2420370162818

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2009Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8562,6402,5722,7192,9182,6622,4213,1493,8023,9624,0693,5993,578
Expenses1,0242,3802,2442,4202,5762,2912,0782,7143,2763,3283,4273,0903,088
Material Cost2,1631,868
Change in Inventories-5657
Purchases of Stock-in-Trade212183
Employee Cost337313
Other Expenses794669
Operating Profit-168260329299342370343434526633642509489
OPM %-20101311121414141416161414
Other Income57111065240434121232635271,9441,961
Exceptional items (within Other Income)01,846
Interest32344910141412101212
Depreciation21545458657976768282897577
Profit before tax3793143374783163232783674565735702,3662,361
Tax %223227163327252126262517
Net Profit2952142474002112372082903354274301,9741,962
EPS in Rs7746538646524664749494433431
Diluted EPS in Rs94433
Dividend Payout %2115342265227110118888010647

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
3%
5 years
8%
3 years
-2%
TTM
-12%

Compounded profit growth

10 years
7%
5 years
12%
3 years
2%
TTM
-5%

Stock price CAGR

10 years
6%
5 years
6%
3 years
7%
1 year
-10%

Return on equity

10 years
24%
5 years
26%
3 years
27%
Last year
19%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2009Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital384747474646464646464646
Reserves9331,1169631,2441,0911,1921,2431,2141,2711,2841,2852,406
Borrowings0333364647070606279
Other Liabilities3618788729399591,0241,1781,2621,3541,5141,5111,265
Total Liabilities1,3322,0441,8842,2332,0982,3262,5302,5922,7402,9042,9033,795
Fixed Assets1335235195395305745435205115264811,613
CWIP29232717161642731196749
Investments91560033657337784000000
Other Assets2839121,0071,0941,1741,6521,9702,0302,1572,2592,3552,133
Total Assets1,3322,0441,8842,2332,0982,3262,5302,5922,7402,9042,9033,795

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2009Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity226314318313937428312148648631293
Cash from Investing Activity283-156225-61854-225230-15-87122804
Cash from Financing Activity-54-113-392-126-360-157-174-346-302-439-460-875
Net Cash Flow231-6-2451-36221-1156170-41-2622
Free Cash Flow20823468809732625558382367206-1,022

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2009Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days324958535654625753535261
Inventory Days81891078485107135129951009599
Days Payable150145164159131171220164138164151131
Cash Conversion Cycle-37-71-229-10-232211-10-329
Working Capital Days-37-1151020-5-14144-22232
ROCE %1327402427222835424223

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters757575757575757570616161
FIIs3.143.203.423.633.753.843.683.707.978.668.438.49
DIIs8.618.568.368.288.118.058.498.5614212222
Public13131313131313138.509.568.588.33
No. of Shareholders46,65747,32246,71246,66245,90648,26648,14048,92248,22650,31448,49348,114

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -10.2% (₹3,329.60 → ₹2,989.10)Brick size ₹77.74 (fixed)Bricks 30
₹3,250₹3,500₹2,989Nov '25Feb '26Jun '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹2,989.10 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-245inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

2,59,48,089inr

2026-03-31

News

News and filings about JSW Dulux Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Latex / monomers (crude-derived)
  • Latex and monomers
  • Packing material
  • Packing material, including plastic containers with recycled plastic content
  • Pigments, extenders & additives
  • Pigments, extenders and tinters
  • Resins / alkyds
  • Resins, including epoxide/synthetic resins
  • Silicone-based, SBR, PCE and polyurethane technologies for waterproofing/enamel products
  • Solvents
  • Solvents / crude-derivative inputs
  • Titanium dioxide

Depends on the price of

  • Crude Oil Brent
  • Foreign-currency-denominated raw-material imports
  • Raw-material basket for paints and coatings
  • titanium dioxide

Buys from

Sells to

  • Homeowners, dealers, distributors and painters · decorative paints, lacquers and varnishes
  • Industrial users in automotive, consumer durables, structures, machinery and equipment · industrial paints and coatings
  • Institutions, builders and contractors · Dulux Professional decorative paints
  • Power, shipping, oil and gas, steel, construction, consumer durables, packaged food and beverage sectors · protective, marine, industrial, powder and packaging coatings

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Consumer Durables
Industry
Paints
Classification
Consumer Durables › Paints
ISIN
INE133A01011

Business segments

  • Paints · 100%

Plants

  • Bengaluru / Hoskote plant · Bengaluru, Karnataka
  • Bengaluru manufacturing facility · Bengaluru, Karnataka
  • Gwalior manufacturing facility · Gwalior, Madhya Pradesh
  • Hyderabad (Krishna) manufacturing facility
  • Hyderabad plant · Hyderabad, Telangana
  • Malanpur / Gwalior plant · Malanpur, Bhind / Gwalior, Madhya Pradesh
  • Mohali manufacturing facility · Mohali, Punjab
  • Mohali plant · SAS Nagar / Mohali, Punjab
  • Navi Mumbai / Thane plant · Navi Mumbai / Thane, Maharashtra
  • Thane manufacturing facility · Thane, Maharashtra

News impact

Big market events that reach JSW Dulux Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

3 Jul 2026unspecified₹50
11 Aug 2025special₹156
25 Jul 2025unspecified₹30
19 Nov 2024interim₹70
25 Jul 2024unspecified₹25
16 Feb 2024interim₹50
27 Jul 2023unspecified₹40
21 Feb 2023interim₹25

Splits, bonuses & buybacks

  • daily-prices repair: 12 rows from NSE's archive (replace 1, delete 4, insert 7), 2016-10-30..2026-06-26 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.