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JSW Dulux Ltd

Q3 FY26Consumer Durables

JSW Dulux Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 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
Read4 min read

The short version

Expect secular growth in both decorative and coatings businesses, aiming for growth at least in line with GDP or outperforming competitors. Focus on driving revenue growth ahead of competition is critical, targeting a volume growth of 6-8% in decorative paints.

From JSW Dulux Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Expect secular growth in both decorative and coatings businesses, aiming for growth at least in line with GDP or outperforming competitors.
  • Focus on balanced growth across segments to avoid over-reliance on low-margin businesses.
  • Anticipate strong volume growth in decorative paints, with 6-8% growth observed in recent quarters.
  • Q4 expected to be a strong quarter for volume growth in both decorative and coating segments.
  • Growth driven by new product launches, market share gains, and expansion in mid-market coatings with competitive, innovative products.
  • Emphasis on sustaining profitability while driving volume growth, using technology and customer insights.

2 more points from JSW Dulux Ltd's call on revenue

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Profitability & Margins

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

Capital Expenditure Plans

  • The company has free cash of approximately INR 200 to 225 crores earmarked for growth initiatives and near-future CAPEX.
  • Royalty savings of around INR 60-65 crores (due to acquiring decorative IP and Dulux brand) are being redeployed towards growth initiatives and market share gains.
  • The management emphasizes investment in brand building and expanding business, suggesting higher strategic investments ahead.
  • Focus is on innovation, product competitiveness especially in the mid-market coatings segment, and strengthening distribution reach.
  • Integration efforts post-merger are ongoing, highlighting plans for combined growth leveraging synergy in decorative and industrial coatings businesses.

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Top-ranked in Consumer Durables

Ranked on what management guided this quarter

Guidance-ranked
1Nanta Tech
Rev 1Mar 1
2Visdem Technosys
Rev 1Mar 1
3
Rev 1Mar 2
4
Rev 1Mar 3
5
Rev 1Mar 3
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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 AkzoNobel India Limited's investor call on February 3, 2026, does not mention any details about the current or expected order book or pending orders. Therefore, there is no information available in the document regarding the order book or pending orders.

JSW Dulux Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹883 Cr, net profit ₹70 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What JSW Dulux Ltd's management said in earlier quarters

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Frequently Asked Questions

What were JSW Dulux Ltd Q3 FY26 results?

Expect secular growth in both decorative and coatings businesses, aiming for growth at least in line with GDP or outperforming competitors. Focus on driving revenue growth ahead of competition is critical, targeting a volume growth of 6-8% in decorative paints.

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 company has free cash of approximately INR 200 to 225 crores earmarked for growth initiatives and near-future CAPEX.

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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.