A fundamental analysis of JSW Dulux Limited (JSWDULUX) covering revenue trends, profitability, valuation, and shareholding patterns.
JSW Dulux Revenue Trend
Revenue fell 12.6% year-over-year to ₹3,599 Cr in FY2026 for JSW Dulux Limited.
Stepping back, JSW Dulux Limited's 2.1% revenue CAGR over 10 years is tepid, barely outpacing inflation.
JSW Dulux Limited's ₹3,599 Cr revenue base puts it in the mid-sized bracket among paints companies in India.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹3,599 Cr | -12.6% |
| FY2025 | ₹4,119 Cr | +3.0% |
| FY2024 | ₹3,997 Cr | +4.4% |
| FY2023 | ₹3,830 Cr | +20.8% |
| FY2022 | ₹3,171 Cr | — |
View JSW Dulux Limited's full 10-year revenue trend with CAGR analysis →
JSW Dulux Profitability
In FY2026, JSW Dulux Limited earned ₹1,974 Cr in net profit, representing 359.6% year-over-year growth.
Net margin widened to 54.8% in FY2026 — an improvement from the 10.4% recorded in FY2025.
Looking at per-share numbers, diluted EPS was ₹433.42 in FY2026 — up from ₹94.31.
Is JSW Dulux Undervalued
The P/E Ratio valuation pegs JSW Dulux Limited's fair value at ₹15,213, which is 417.1% upside from the current price.
JSW Dulux Limited shares are currently trading at ₹2,942.10.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹15,213 | 417.1% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for JSW Dulux Limited with detailed assumptions →
JSW Dulux Shareholding Pattern
Promoters trimmed their stake from 74.8% to 61.2% over the last 4 quarters.
Foreign investors held 8.4% of the company as of March 2026, up year-over-year from 3.7%.
The DII stake stands at 21.8% as of March 2026, versus 8.6% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 61.2% | 8.4% | 21.8% | 8.6% |
| Dec 2025 | 61.2% | 8.7% | 20.6% | 9.6% |
| Sep 2025 | 69.8% | 8.0% | 13.8% | 8.5% |
| Jun 2025 | 74.8% | 3.7% | 8.6% | 13.0% |
Track quarterly shareholding changes for JSW Dulux Limited →
JSW Dulux Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹37.95B at the end of FY2026, up 30.7% from ₹29.03B a year earlier.
Intangibles & Goodwill is the largest block at 30.4%, followed by Other Assets at 20.8% and Receivables at 15.9%.
Equity makes up 64.6% of liabilities and equity, with debt at 2.1% and operating liabilities at 33.3%. Over the year, debt is up 27.4% and equity is up 84.3%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 2.70B |
| Receivables | 6.03B |
| Inventories | 5.71B |
| Property, Plant & Equipment | 4.08B |
| Intangibles & Goodwill | 11.53B |
| Other Assets | 7.90B |
| Category | Value |
|---|---|
| Equity | 24.52B |
| Short-term Debt | 160.00M |
| Long-term Debt | 631.00M |
| Trade Payables | 7.57B |
| Other Liabilities | 5.08B |
JSW Dulux — The Bottom Line
Here's the bottom line on JSW Dulux Limited (JSWDULUX) based on the latest available financials.
Revenue of ₹3,599 Cr in FY2026, down 12.6% year-over-year.
Long-term revenue has been compounding at 2.1% annually over 10 years.
The company is profitable, with a net margin of 54.8% and net income of ₹1,974 Cr.
The P/E Ratio model implies 417.1% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
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