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JSW Dulux Ltd

Q4 FY26Consumer Durables

JSW Dulux Q4 FY26 earnings call: Revenue & Margins

Q4 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

What the Q4 FY26 call signalled

1 of 3 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned

The short version

JSW Dulux is targeting double-digit volume growth in the decorative paint industry for the coming year (FY '27), reflecting confidence in secular volume increases. JSW Dulux targets double-digit volume growth for the decorative paint industry and overall business in FY 2027.

From JSW Dulux Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Moderate growth
  • JSW Dulux is targeting double-digit volume growth in the decorative paint industry for the coming year (FY '27), reflecting confidence in secular volume increases.
  • Strong volume growth of 23% was reported recently, with both decorative and industrial verticals contributing.
  • The company expects a continued uptake in demand supported by price corrections and improved dealer confidence.
  • Market share gains are anticipated as deeper-pocketed players with strong strategic intent execute effectively.
  • Capacity utilization currently stands at 55-60% for decorative paints and up to 70-80% for industrial products, with ongoing capacity expansion plans.
  • Price increases totalling around 9.7% have been implemented recently to offset elevated raw material inflation.

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Profitability & Margins

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Capital Expenditure Plans

Capex planned
  • JSW Dulux is working on cross-manufacturing integration, shifting production of JSW Paints products across multiple plants instead of only Vijayanagar.
  • Product trials for this integration are underway, with initial batches already produced.
  • Current capacity utilization is around 55-60% for decorative paints and 70-80% for industrial products.
  • Plans for capacity expansion and localization are part of the future agenda.

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Top-ranked in Consumer Durables

Ranked on what management guided this quarter

Guidance-ranked
1Nanta Tech
Rev 1Mar 1
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

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Order Book & Pipeline

  • JSW Dulux reported a strong order book in the oil and gas infrastructure segment.
  • The company highlighted strong orders in both blade and dry-dock businesses.
  • They have secured marquee coil business projects, including Navi Mumbai Airport.

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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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Frequently Asked Questions

What were JSW Dulux Ltd Q4 FY26 results?

JSW Dulux is targeting double-digit volume growth in the decorative paint industry for the coming year (FY '27), reflecting confidence in secular volume increases. JSW Dulux targets double-digit volume growth for the decorative paint industry and overall business in FY 2027.

What is JSW Dulux Ltd share price analysis?

JSW Dulux Ltd currently shows a below-average growth signal. 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?

JSW Dulux is working on cross-manufacturing integration, shifting production of JSW Paints products across multiple plants instead of only Vijayanagar.

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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.