JSW Dulux Limited has informed the Exchange about Transcript
JSWDULUX · price
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JSW Dulux reported record 23% volume growth in Q4 FY26 (both decorative and industrial), with 6.2% revenue growth. The revenue-volume gap is due to price corrections taken in September-October and January-February to be more competitive against challengers. EBITDA margin stood at ~14.4%, largely protected despite price cuts and elevated spending. The company has taken 9.7% price increases but acknowledges needing another 3-4% given raw material inflation at 24-25%. Management highlighted strong execution in industrial coatings (Porsche tie-up, Navi Mumbai Airport project, Marine/Protective order book) and decorative volume momentum. Integration with JSW Paints is underway with projects business integrated, while retail integration is planned for next year. Real estate sale of INR 64.8 crore completed in March 2026. Final dividend of INR 50 per share approved.
The 23% volume growth shows successful execution post-ownership change, but margin pressure from elevated raw material costs and competitive pricing actions remains a concern. The company targets double-digit volume growth going forward but flagged unpredictability from geopolitical factors affecting crude prices.