Earnings Call/Transcript
JSW Dulux Q2 FY27 Earnings Call Transcript
JSW Dulux filed the transcript of its Q2 FY27 investor call held on 4 November 2026, discussing quarterly performance and financial results.
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JSW Dulux Ltd (JSWDULUX) is currently trading at 280.00 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
JSW Dulux Limited manufactures, trades and sells decorative paints and performance coatings, serving residential, project, automotive, marine, protective, coil, packaging and other industrial applications through the Dulux platform and related portfolios. Q2 FY27 delivered approximately 21% volume growth and 21.3% revenue growth on a like-for-like basis, indicating a sharp business recovery despite the transfer of INR24.3 crore revenue to an unlisted AkzoNobel entity and discontinued intercompany decorative sales. Industrial coatings led growth at more than 32%, while decorative paints grew in the mid-double digits. However, industrial raw-material inflation materially diluted gross margins because price increases lagged the cost escalation, making mix a significant earnings constraint. Project Akshaya generated approximately INR7.3 crore of Q2 savings through supply-chain efficiencies, cross-manufacturing and unified projects. Management expects the program to contribute roughly 7%–10% of overall EBITDA on a full-year basis, although annual targets remain undisclosed. The company appears to be regaining decorative market share and gaining in selected industrial segments, but its 57%–60% decorative and 40%–43% industrial mix makes margins more sensitive to crude prices, foreign exchange and industrial customer pricing delays than larger decorative-heavy peers.
Over the past 52 weeks, JSW Dulux Ltd has traded between a low of ₹258.00 and a high of ₹374.67. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
JSW Dulux Ltd has a market capitalization of approximately 12,710.30. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
JSW Dulux Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 36.20 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 12,710.30 Cr, JSW Dulux Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
JSW Dulux Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of JSW Dulux Ltd is 36.20. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
JSW Dulux said COGS in Marine & Protective, industrial coil coatings and packaging coatings rose about 30% to 35% in Q2 FY27. Price increases in those areas were only about 6% to 7%, creating a timing gap that affected gross margin.
JSW Dulux reported retained-business revenue from operations of Rs 961.9 crore in Q2 FY27. This was 21.3% higher than Rs 793.3 crore in the comparable retained-business period a year earlier, while reported standalone revenue rose 16.2% from Rs 827.6 crore.
JSW Dulux reported comparable net revenue of Rs 961.9 crore in Q2 FY27. That was 21.3% above Rs 793.3 crore in Q2 FY26 comparable results. The company attributed the increase to 22% volume growth.
JSW Dulux is scheduled to consider and approve its Q2 FY27 and H1 FY27 unaudited standalone and consolidated results on November 4, 2026. The reporting periods end on September 30, 2026.

Consumer Durables
Paints
12,710 Cr
Low Risk
36.2
43.4
2.3
5.5
374.67
258.00
Sales CAGR
Profit CAGR
ROE
ROCE
Earnings Call/Transcript
JSW Dulux filed the transcript of its Q2 FY27 investor call held on 4 November 2026, discussing quarterly performance and financial results.
Financial Results
JSW Dulux published newspaper advertisements for its unaudited quarter ended September 2026 results, reporting consolidated revenue of ₹9,643.31 million and net profit of ₹714.18 million.
Regulatory/Compliance Filing
JSW Dulux received an intimation that promoter JSW Paints entered into a debenture trust deed for listed, unsecured debentures aggregating up to INR 2,950 crore.
Earnings Call/Transcript
JSW Dulux held a group investor call on 4 November 2026 to discuss its quarter and half-year ended 30 September 2026 financial results; the audio recording is available online.
Investor Presentation
JSW Dulux released an investor call presentation covering unaudited Q2 and H1 FY27 results, business highlights and strategic priorities.
Financial Results
JSW Dulux approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. It also appointed an independent director and proposed shifting its registered office.
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