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As of 6 Nov 2026, JSW Dulux trades at 35.3× trailing earnings, above the industry P/E of 22.1×, and the shares are 27% below their 52-week high. Its ROCE of 90% is the highest among the 7 largest Specialty Chemicals peers, and sales fell 1.8% a year over 3 years while net profit grew 81%. It has almost no debt, and its dividend yield is 1.8%. It is a small-cap company with a market cap of ₹12,392 Cr, ranked 20th of 204 Specialty Chemicals companies by market cap; the shares fell 15% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹270.05
Day high
₹274.35
Day low
₹268.60
Prev. close
₹275.30
Volume
2.1 L

Health check

1 good · 2 fair · 3 to check
  • ReturnsBehind

    −15.0% over a year, better than 0 of 7 peers.

  • Price tagPricier

    P/E 35.3 vs industry 22.1.

  • GrowthSteady

    Sales −1.8%, profit +80.6% a year over 3 years.

  • ProfitabilityStrong

    ROCE 89.6% vs peer median 24.4%.

  • Balance sheetFair

    Practically debt-free, Piotroski 5 of 9.

  • Red flags3 to check

    Quarterly profit down 57.6% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Specialty Chemicals

203 listed peers. Screen the industry

Small cap

₹12,392 Cr, #20 of 204 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹3,798 Cr · profit ₹351 Cr
Market cap
₹12,392 Cr
Small cap
P/E
35.3
Industry 22.1
Price to book
0.53
Peers 13.33
Dividend yield
1.84%
ROE
15.3%
Peers 23.0%
ROCE
89.6%
Peers 24.4%
Debt to equity
0.04
Debt ₹88 Cr
EPS (TTM)
₹7.71
Face value ₹1
OPM (TTM)
13.2%
Net margin 9.2%
Sales growth
+16.2%
Latest quarter vs a year ago
Profit growth
−57.6%
Latest quarter vs a year ago
Price to sales
3.26
EV/EBITDA 2.2

Strengths and risks

Strengths

  • Return on capital employed of 89.6%.
  • Practically debt-free.
  • Quarterly sales up 16.2% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Quarterly profit down 57.6% on a year ago.
  • P/E of 35.3 against an industry P/E of 22.1.
  • Promoter stake down from 69.8% to 61.2%.

Derived automatically from reported figures. Not a recommendation.

About JSW Dulux

JSW Dulux Limited manufactures, distributes, and sells paints and coatings in India and internationally. It offers paints, enamels or lacquers, and varnishes for interior, exterior, waterproofing, and woodcare and metal applications; waterproofing paint products; weathershield paint for institutions/builders; and automotive and specialty, industrial, powder, and marine and protective coatings. The company's products are used in oil and gas, power,…

Headquarters
Mumbai
Employees
1,387
Sector
Basic Materials
ISIN
INE133A01029
Website
akzonobel.co.in

Price range

52 weeks

₹257.15₹374.50

Today

₹268.60₹274.35
Avg volume (3M)
3.4 L
1-year return
minus 15.0%
From 52-week high
minus 27.3%

Peers · Specialty Chemicals

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ASIANPAINTAsian Paints2,546.00plus 0.88%2,44,02550.535.024.4%18.9%0.211.1%plus 1.5%
SOLARINDSSolar Industries India18,608.00plus 0.48%1,68,38474.464.129.5%27.8%0.2212.4%plus 35.9%
PIDILITINDPidilite Industries1,579.00plus 1.63%1,60,82760.044.428.5%23.5%0.037.4%plus 6.8%
LINDEINDIALinde India6,859.00plus 8.73%58,496118.464.216.3%31.5%0.23–plus 5.4%
BERGEPAINTBerger Paints India478.35minus 5.28%55,77645.429.420.6%15.3%0.154.2%minus 6.0%
FLUOROCHEMGujarat Fluorochemicals4,665.50minus 0.94%51,25175.944.09.6%24.1%0.26−4.5%plus 28.0%
ACUTAASAcutaas Chemicals3,786.60plus 0.42%31,00170.964.127.7%39.4%0.0129.4%plus 105.6%
JSWDULUXJSW Dulux272.10minus 1.16%12,39235.324.289.6%9.7%0.04−1.8%minus 15.0%
Median of 7 peers–0.48%58,49670.944.424.4%24.1%0.215.8%6.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26Sep 26
–828908883965962
–735771756850851
13592.4136127115111
–11.2%15.0%14.4%11.9%11.5%
9–3.667.125.62.4
2.7–2.84.32.64.5
18.3–18.620.120.420.1
––−17.2–––
123–10117011888.8
25.7%–26.7%25.9%32.3%19.6%
91–74.312679.771.4
–36.951.632.761.751.57

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−1.8%
Profit CAGR 3Y
+80.6%
EPS CAGR 3Y
+80.6%
ROE
15.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
3,7773,9374,0433,580
–+4.2%+2.7%minus 11.4%
3,2583,3133,4143,077
519624629503
13.7%15.8%15.5%14.1%
3142.939.496.4
10.810.29.110.4
82.582.389.475.3
−0.3−0.90.41,851
4565735702,366
26.5%25.5%24.6%16.6%
3354274301,974
–+27.3%+0.7%+359.6%
7.369.379.4343.34

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
45.545.545.545.5
1,2711,2841,2852,406
69.760.462.179.1
1,3551,5141,5111,265
2,7412,9042,9033,795
602648550510
94.912570.549.2
0.30.70.80.3
553514248270
1,4911,6162,0342,966
2,7412,9042,9033,795

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
48648631293.2
−15.1−86122804
−302−439−460−875
169−39.9−25.821.5
−104−119−107−1,199
382367206−1,106
−273−410−433−847

Shareholding pattern

Source: NSE filings
61.2%
promoters
  • Promoters61.20%
  • Public38.80%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202661.20%38.80%0.00
30 Jun 202661.20%38.80%0.00
31 Mar 202661.20%38.80%0.00
31 Dec 202561.20%38.80%minus 8.56
30 Sep 202569.76%30.24%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you