JSW Dulux Ltd

Q3 FY25Consumer Durables

JSW Dulux Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹3,119

Market cap₹13.8K Cr

P/E38.1

Updated23 Aug 2026

Read3 min read

The short version

Decorative paints business projected to grow at about 11% over the next five years, as mentioned in the context of royalty growth calculations. Akzo Nobel India has shown consistent revenue growth of around 6% CAGR over the past five years.

From JSW Dulux Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Decorative paints business projected to grow at about 11% over the next five years, as mentioned in the context of royalty growth calculations.
India operations have outpaced the industry with a 4.2% growth compared to industry growth of 3.8% in FY 23-24.
Despite recent market softness and rainfall impacting the industry, Akzo Nobel India continues to show growth.
Historical CAGR (Compound Annual Growth Rate) of revenue is around 6% over the last five years.

2 more points management made on revenue & sales performance

Profitability & Margins

Akzo Nobel India has shown consistent revenue growth of around 6% CAGR over the past five years.
EBIT CAGR improved from 12% to 15% post divestment, with EBIT at 13.9% in 2023-24, up from 8.8% in 2017-18.
EPS significantly increased from ₹44 to ₹94 over the period.
Despite a 2.7% industry decline in the latest nine months, Akzo Nobel India continued to grow at about 4.2%, outperforming the market.
The company expects to redeploy capital from non-core businesses to focus on core paint and coatings, supporting growth.

2 more points management made on profitability & margins

See what JSW Dulux Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The transcript does not mention any specific current or future capex, capital investment, or strategic investment plans.
The main focus discussed is on the strategic portfolio review by AkzoNobel with intent to divest the Powder Coatings business and International Research Centre.
There is a mention of reinvesting or redeploying capital towards growing the core paint and coatings business, particularly focusing on the South Asia market.

- No detailed capex amounts, timelines, or strategic investments beyond the portfolio review and related transactions are provided in the discussion. - The company is also emphasizing paying dividends and maintaining strong cash flow, but no new capital investment projects are described. In summary, the meeting centers on strategic divestments rather than announcing new capex or strategic investments.

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what JSW Dulux Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided transcript from the Akzo Nobel India Ltd group meeting on March 7, 2025, does not specifically mention any details regarding the current or expected order book or pending orders. The discussion primarily revolves around: - Strategic portfolio review and divestment plans - Valuation of powder coating business and intellectual property (IP) rights - Details of R&D centers and business units

2 more points management made on order book & pipeline

JSW Dulux Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹883 Cr, net profit ₹70 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What JSW Dulux's management said in earlier quarters

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Frequently Asked Questions

What were JSW Dulux Ltd Q3 FY25 results?

What is JSW Dulux Ltd share price analysis?

JSW Dulux Ltd currently shows a neutral. The stock trades at a P/E of 38.1 with a market cap of ₹13,763 Cr. Investors should review the full earnings analysis for detailed insights.

Is JSW Dulux Ltd planning capital expenditure?

The transcript does not mention any specific current or future capex, capital investment, or strategic investment plans.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.