Overview

Detailed Summary

Akzo Nobel India Limited, now primarily engaged in the coatings business, operates through its decorative and performance coatings divisions under the Dulux brand. With the acquisition by JSW Paints, the company is under new strategic leadership aiming to boost market share regionally.
The company launched its Dulux Weathershield Metallics and Floor Plus offerings, exploring new applications in flooring and enhancing exterior paint options, which signifies innovative product development.
Despite a marginal revenue decline, domestic sales saw a slight increase, and the EBITDA margin sustains at 14.9%, highlighting operational resilience in challenging market conditions.
Strategic thrust has been placed on expanding into mid-market coatings, strengthening the brand’s presence and adapting pricing strategies to stay competitive, which indicates a shift towards accessible product lines.
Following the integration with JSW, the combined entity, soon to be rebranded as JSW Dulux, aims for significant market share improvement, potentially influencing industry dynamics in the paint sector.

Sector: Consumer Durables
Industry: Paints
Market Cap: 13,423 Cr
Volatility: Low Risk
P/E Ratio: 6.9
Industry P/E: 50.7
PEG Ratio: 2.6
P/B Ratio: 6.0
52W High: 3,909.25
52W Low: 2,649.05

Sales CAGR

1Y: 3.27%
3Y: 9.12%
5Y: 8.98%
10Y: 3.37%

Profit CAGR

1Y: 0.68%
3Y: 13.91%
5Y: 12.54%
10Y: 8.71%

ROE

TTM: 17.36%
3Y: 29.96%
5Y: 25.89%
10Y: 25.05%

ROCE

TTM: 22.06%
3Y: 37.11%
5Y: 31.84%
10Y: 29.58%

Technicals

‌

Forecasts

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Peers

Consumer Discretionary Consumer Durables Consumer Durables Paints

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
KANSAINER		197.00	17,107 Cr	29.02	2.55	1.77	8.78	11.82	6.61
JSWDULUX		2946.30	13,499 Cr	6.90	5.99	3.37	17.36	22.06	53.59
INDIGOPNTS		862.00	4,405 Cr	30.53	4.13	0.38	13.49	17.10	9.92
SIRCA		435.85	2,411 Cr	39.25	5.08	0.47	13.07	15.93	10.98
SHALPAINTS		50.95	471 Cr	-7.02	2.68	0.00	-22.85	-8.87	-9.75
KAMOPAINTS		5.59	179 Cr	37.67	1.01	0.00	3.43	5.56	1.71
RETINA		57.50	86 Cr	26.48	2.61	0.00	14.46	15.28	9.53
Median: 7 Co.	—	197.00	2,411 Cr	29.02	2.68	0.38	13.07	15.28	9.53

Financial Statements

Upcoming Result Date: May 12, 2026

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

Ask AI

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	956	1,033	973	1,036	982	1,051	1,022	995	835	908
Expenses	815	866	812	867	833	884	863	861	724	771
Operating Profit	142	166	162	169	149	167	159	135	111	136
OPM %	14.83	16.11	16.61	16.30	15.21	15.89	15.59	13.52	13.26	15.02
Other Income	8.90	8.40	10	9.70	9.10	6.00	2.80	9.00	1,882	-14
Interest	2.70	3.20	3.20	2.50	1.50	3.30	2.50	2.70	2.30	2.80
Depreciation	21	20	22	22	25	23	22	18	18	19
Profit Before Tax	127	152	147	154	132	146	138	123	1,972	101
Tax %	25.77	24.88	26.05	25.73	25.72	25.72	21.22	25.71	14.67	26.65
Net Profit	94	114	109	115	98	109	108	91	1,683	74
EPS in Rs	20.70	24.99	23.87	25.17	21.49	23.85	23.80	19.98	369.52	16.32

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,134	2,793	2,918	2,662	2,421	3,149	3,802	3,962	4,091	4,050
Expenses	2,476	2,421	2,576	2,283	2,081	2,716	3,277	3,330	3,450	3,440
Operating Profit	658	372	342	379	341	433	525	632	642	610
OPM %	21.00	13.32	11.73	14.24	14.07	13.74	13.81	15.95	15.68	15.06
Other Income	53	46	43	32	23	25	27	36	28	27
Interest	3.20	3.50	4.50	9.30	10	15	14	13	9.80	10
Depreciation	57	58	65	79	76	76	83	82	89	89
Profit Before Tax	342	283	316	323	278	367	456	573	570	538
Tax %	27.84	27.41	33.14	26.55	25.38	20.91	26.50	25.55	24.64	24.57
Net Profit	247	205	211	237	208	290	335	427	430	406
EPS in Rs	—	—	46.27	52.14	45.60	63.70	73.58	93.68	94.31	429.62
Dividend Payout %	41.56	25.66	52.22	26.86	109.65	117.74	88.34	69.39	106.03	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	47	47	47	46	46	46	46	46	46	46
Reserves	1,117	963	1,244	1,091	1,193	1,243	1,214	1,271	1,284	1,285
Borrowings	2.60	2.60	2.90	2.90	64	64	71	70	60	62
Other Liabilities	878	872	939	959	1,024	1,178	1,262	1,355	1,514	1,511
Total Liabilities	2,044	1,885	2,233	2,098	2,326	2,530	2,592	2,741	2,904	2,903
Fixed Assets	523	519	539	530	574	543	520	511	526	481
CWIP	8.90	23	27	17	16	17	42	73	119	67
Investments	600	336	573	377	84	0.50	0.00	0.00	0.00	0.00
Other Assets	912	1,007	1,094	1,174	1,652	1,970	2,030	2,157	2,259	2,355
Total Assets	2,044	1,885	2,233	2,098	2,326	2,530	2,592	2,741	2,904	2,903

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	263	146	183	139	374	283	121	486	486	311
Cash from Investing Activity	-156	222	-5.60	185	4.40	-225	230	-15	-86	123
Cash from Financing Activity	-113	-392	-126	-360	-157	-174	-346	-302	-439	-460
Net Cash Flow	-5.50	-24	51	-36	221	-115	5.90	169	-40	-26

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	74.76%	74.76%	74.76%	74.76%	74.76%	74.76%	74.76%	74.76%	74.76%	69.76%	61.20%	61.20%
FIIs	3.15%	3.14%	3.20%	3.42%	3.62%	3.74%	3.85%	3.67%	3.70%	7.97%	8.66%	8.44%
DIIs	8.75%	8.62%	8.56%	8.37%	8.28%	8.11%	8.05%	8.50%	8.57%	13.77%	20.58%	21.78%
Public	13.34%	13.49%	13.49%	13.45%	13.33%	13.39%	13.34%	13.07%	12.98%	8.50%	9.55%	8.58%
Total Shareholders	45,231	46,657	47,322	46,712	46,662	45,906	48,266	48,140	48,922	48,226	50,314	48,493

Market Transactions

Unlock more with professional

Real-time bulk & block deal transactions
Export transaction data for analysis

Projection

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan