JSW Dulux share price today

JSW Dulux Ltd's share price was ₹264.40 at the close on 30 October 2026. It has been falling for 1 week. That is 14.2% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today JSW Dulux Ltd is in stage 4. The phase helps read everything below.

Since its first close in our records, on 10 April 2026, it has traded between ₹264 and ₹329, and at that close it was at the low of that range.

Over the last 7 months the share price moved −11% while the NIFTY 500 moved −3%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) raised their stake for 7 quarters in a row, lowest operating margin in 14 quarters and revenue down on a year earlier for 5 quarters in a row.

1. Indian funds and insurers (DIIs) raised their stake for 7 quarters in a row

   From 8.1% to 22.1% of the company by the September 2026 quarter.

2. Lowest operating margin in 14 quarters

   Operating margin was 12% in the June 2026 quarter, against 14% a year earlier.

   Why: Operating margin fell because costly decorative raw materials bought earlier raised costs.

   From the earnings call on 12 Aug 2026.

3. Revenue down on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹965 crore, -3% on a year earlier.

   Why: Reported revenue fell because some businesses were carved out and kept by AkzoNobel, so the sales figures are not comparable. On a comparable basis, sales grew.

   Next results: check whether decorative growth spreads beyond premium products and nearby categories.

   From the earnings call on 12 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), JSW Dulux reported revenue of ₹965 crore, down 3.0% from ₹995 crore a year earlier, and a profit of ₹80.0 crore, down 12.1% from ₹91.0 crore.

JSW Dulux results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

JSW Dulux's management discussed these results on a call held on 12 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

JSW Dulux closed at ₹264.40 on 30 October 2026. Its highest weekly close since April 2026 was ₹329.18 on 19 June 2026.

JSW Dulux share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 30 Oct 2026 close. A day's intraday high or low can go beyond these weekly closes.

35 weekly closes from 10 April 2026 to 30 October 2026.

30 Oct 2026: JSW Dulux closed at ₹264.40, down 7.7% on the week and down 12.5% on the month. 22 Oct 2026: Share split: face value cut from ₹10 to ₹1 a share (ex-date).

Earlier

• 12 Aug 2026: JSW Dulux held its results call for April to June 2026. Management guided: Operating margin in the 13-15% range, given crude prices.
• 3 Jul 2026: ex-date for a dividend of ₹50 a share.
• Results for April to June 2026: Revenue down 3.0% and profit down 12.1% on a year earlier.

JSW Dulux paid ₹5 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.89% at the ₹264.40 close on 30 October 2026. The last was a dividend of ₹50 a share, ex-date 3 July 2026.

JSW Dulux dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 1 of the last 12 months' payments came before a split or bonus; the 12-month total above is on today’s share count.

Yes. JSW Dulux Ltd paid out 47% of its profit as dividends in FY26, and it paid a dividend in each of its last 12 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 12 August 2026, JSW Dulux's management guided: Operating margin in the 13-15% range, given crude prices.

“However, given crude prices, I have said that the EBITDA margin would be in the range of 13-15%. That is the kind of margin I think we should be able to achieve for the reasons I mentioned.”Rajiv Rajgopal, on the call for April to June 2026

What management guided

• Double-digit growth in both volume and value, decorative market-share gains and absolute operating profit delivery remain objectives.
• The coming quarter expected in a similar growth band; precise quarterly prediction limited by July rainfall.
• Active presence to approximately 4,500 towns this year; direct or hybrid model in approximately 20 top towns, with distributors retained where effective.
• ERP migration from the inherited AkzoNobel ecosystem by year-end.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 12 August 2026.

When JSW Dulux reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: Gross-margin recovery after high-cost decorative inventory clears - check whether raw-material relief converts into operating profit.

JSW Dulux is on one of our India lists: Dividend stocks.

JSW Dulux Ltd earned ₹80.0 Cr of net profit in the Jun 2026 quarter, −12.1% on the same quarter a year earlier. Full-year FY26 profit was ₹1,974 Cr. Over 10 years profit has grown 24.9% a year on average. That is 8.3% of the quarter's revenue. The same quarter a year earlier earned ₹91.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹1,974 Cr (+359.1% on the year before).

Why profit moved: revenue changed −3.0% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +397.5% and revenue −11.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

JSW Dulux Ltd reported ₹965 Cr of revenue in the Jun 2026 quarter, −3.0% on the same quarter a year earlier. Over 10 years it has grown 3.1% a year on average. The last full year, FY26, came in at ₹3,599 Cr. The last four reported quarters add to ₹3,577 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹3,599 Cr, −11.6% on the year before.

Recent pace: the last four quarters grew −11.4% on average, against 3.1% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −11.5%, against −5.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +383.5%, against +113.2% a year (accelerating).

JSW Dulux Ltd's operating margin was 12.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 12 years it has been between −20.0% and 16.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.6 percentage points on the year while gross margin changed −5.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 31% of JSW Dulux Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹93.0 Cr of operating cash against ₹1,974 Cr of profit. After ₹1,189 Cr of spending on assets, free cash was −₹1,096 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 31% of profit came in as cash: the cash cycle got 52 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 52 days longer. The next section looks at where the cash is stuck.

JSW Dulux Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 29 days in FY26, up from −23 days in FY21. It spent ₹1,324 Cr on assets over the last 3 years. Customers take 61 days to pay, and stock sits for 99 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹3,599 Cr, each day of that cycle ties up about ₹9.9 Cr, so roughly ₹286 Cr is tied up in the business at any time.

FY26: customers took 61 days to pay and stock sat for 99 days, about 3.3 months of sales sitting as stock, for a full cycle of 29 days, longer than FY21's −23.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 99 days. Customers pay about 61 days after that. Suppliers are paid at 131 days. Together that makes the 29-day cycle.

Spending on assets: ₹1,324 Cr over the last 3 years, against ₹246 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹49.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

JSW Dulux Ltd's P/E is 31.4×, near the low end of its own history: it has been lower only 27% of the time. Its usual P/E (the middle reading) is 35.4×, over 9.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

JSW Dulux Ltd's business is getting better. EPS growth hit its low 6 quarters ago at −65.3% and has recovered to +383.6%, with ROCE steady at 37.4%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a lasting rise from a low is what this page is built to show.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

JSW Dulux Ltd earned a ROCE of 23% in FY26. That is up from a low of 13% in FY09. Its return on capital used (ROIC) is 4.4 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 54.8% net margin and 0.95× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 54.8% net margin × 0.95× asset turnover × 1.55× leverage (assets divided by equity) ≈ 80.7% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 16.4% − 12.0% = +4.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

The 16.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 26.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

JSW Dulux Ltd has total debt of ₹79.0 Cr against shareholder equity of ₹2,452 Cr as of Jun 2026, so its debt is 0.03× its equity, which is very little. Year by year, that ratio went from 0.06 in FY22 to 0.03 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions raised their stake in JSW Dulux Ltd by 13.9 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 22.1% of the company. Promoters moved −13.6 points over the same period, to 61.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +13.9 points over 8 quarters, to 22.1%; Promoters: −13.6 points over 8 quarters, to 61.2%; Foreign institutions: +4.3 points over 8 quarters, to 8.0%.

Why the owners changed: domestic institutions drove it (+13.9 points), with the other side taken by promoters (−13.6 points). They raised their stake step by step.

For JSW Dulux Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

50.3 out of 100, rank 3 of 7 in Building Materials - Paints, with 81% of the evidence available.

JSW Dulux Ltd scores 50.3 out of 100 against the 7 companies it is compared with in Building Materials - Paints, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 22.2 + 16.1 + 4 + 8 = 50.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

JSW Dulux ranks 3 of 7 Building Materials - Paints companies on the 4-Factor Sector Score, with 50.3 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Building Materials - Paints, all 7 compared on one page.

JSW Dulux is the 4th largest of 7 Building Materials - Paints companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Asian Paints, Berger Paints India and Kansai Nerolac Paints. Just below it: Indigo Paints, Sirca Paints India and Shalimar Paints.

Building Materials - Paints companies close in size

1. Asian Paints Ltd ₹2,22,534 crore
2. Berger Paints India Ltd ₹54,231 crore
3. Kansai Nerolac Paints Ltd ₹14,259 crore
4. JSW Dulux Ltd ₹13,436 crore
5. Indigo Paints Ltd ₹4,760 crore
6. Sirca Paints India Ltd ₹2,303 crore
7. Shalimar Paints Ltd ₹666 crore

All 7 Building Materials - Paints companies, largest first

Companies close in size in other industries

485. Sammaan Capital Ltd ₹13,560 crore · Finance - Housing
486. Gallantt Ispat Ltd. ₹13,465 crore · Steel Products
487. JSW Dulux Ltd ₹13,436 crore
488. Niva Bupa Health Insurance Company Ltd ₹13,435 crore · Finance - Insurance
489. Paradeep Phosphates Ltd ₹13,407 crore · Fertilisers

Sector Alpha, written by code from the published numbers. Data as of 30 October 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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