📈 Live Market Tracking
Every NSE and BSE corporate filing, read and explained by AI within minutes — impact, key figures, short/long-term view and what to watch.
Live · AI analyzer runs every 5 min (07:00–23:55 IST)
Latest filing: 2026-09-22 17:04
122 analysed today
FollowTelegram
122
Today
149,523
All-time analysed
42,890
Positive
6,652
Negative
91,308
Neutral
8,605
Watch
📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
32 announcements match the current filters (relevance ≥ 5).
JSW Dulux Sets Oct 22, 2026 as Record Date for 1:10 Stock Split
JSW Dulux Limited has fixed Thursday, October 22, 2026, as the record date for its stock split. The company is subdividing 1 equity share of face value Rs 10 into 10 equity shares of face value Re 1 each. This sub-division was previously approved by shareholders on September 20, 2026, via postal ballot.
Confidence: HIGH
What changedJSW Dulux formally set October 22, 2026, as the record date to execute a 1:10 stock split approved by shareholders.
Why it mattersThe split increases total outstanding shares tenfold and reduces the per-share market price proportionally, improving retail liquidity without altering fundamental equity value.
Old Face Value: Rs. 10/-New Face Value: Re. 1/-Record Date: 22nd October 2026Shareholder Approval Date: 20th September 2026
📅 Short termShare price will adjust downwards by a factor of 10 on or before the record date, likely increasing market liquidity and trading volumes.
📈 Long termLimited; stock splits are purely corporate actions that do not alter the company's operating performance, earnings power, or balance sheet.
Key Highlights
Record date fixed for Thursday, October 22, 2026
Stock split ratio of 1:10 (1 share of face value Rs 10 subdivided into 10 shares of face value Re 1)
Approved by shareholders via Postal Ballot on September 20, 2026
👀 What to Watch
Track the ex-split date leading up to October 22, 2026, when the share price will adjust proportionately to one-tenth of its prevailing market price.
JSW Dulux Secures Full Relief on Rs 14.76 Cr GST Demand via Appeal Order
JSW Dulux Limited has received an Appeal Order dated 19th September 2026 from the Karnataka GST Department completely nullifying an earlier tax demand of Rs 14.76 crore. The original order, issued on 21st April 2026 for the period 2019-20, comprised Rs 4.81 crore tax, Rs 5.15 crore interest, and Rs 4.81 crore penalty. Following the company's appeal submissions, the Joint Commissioner of LGSTO 38, Bengaluru, annulled the entire demand amount. The annulled demand represents approximately 18.5% of the company's Jun 2026 quarterly net profit of Rs 79.7 crore, removing a potential cash outflow.
Confidence: HIGH
What changedA previously raised Karnataka GST demand of Rs 14.76 crore has been completely annulled on appeal.
Why it mattersEliminates a contingent liability and potential cash outflow equivalent to ~18.5% of Jun 2026 quarterly PAT (Rs 79.7 crore).
Total nullified GST demand: Rs. 14,75,83,468/-Tax component: Rs. 4,80,57,137/-Interest component: Rs. 5,14,69,194/-Penalty component: Rs. 4,80,57,137/-Demand as % of Q1 PAT: ~18.5%
📅 Short termPositive sentiment from removing tax litigation exposure without any cash outflow or penalty payment.
📈 Long termLimited; routine closure of a historical operational tax assessment.
⚠ Risk flags
- Departmental appeal to higher appellate authorities or tribunal remains a theoretical possibility
Key Highlights
Full tax demand of Rs 14,75,83,468/- nullified by the Joint Commissioner of LGSTO 38, Bengaluru
Nullified demand comprised Rs 4,80,57,137/- tax, Rs 5,14,69,194/- interest, and Rs 4,80,57,137/- penalty
Pertains to dispute for the financial period 2019-20, originally raised on 21.04.2026
Appeal Order dated 19.09.2026 was received by the company on 21.09.2026
👀 What to Watch
Track whether the tax department files a further appeal before higher appellate authorities or the GST Appellate Tribunal.
JSW Dulux Receives ₹48.59 Cr GST Show Cause Notice Over Input Tax Credit Disallowance
JSW Dulux Limited received a Show Cause Notice under Section 73 of the CGST Act from the Karnataka GST Department on September 7, 2026. The notice pertains to the disallowance of Input Tax Credit for FY 2022-23 (April 2022 to March 2023). The total aggregate demand is ₹48.59 crore, comprising tax of ₹27.11 crore, interest of ₹18.76 crore, and a penalty of ₹2.71 crore. The company stated that this is a Show Cause Notice and it is in the process of submitting its response to the tax authorities.
Confidence: HIGH
What changedThe Karnataka GST Department issued a ₹48.59 crore Show Cause Notice alleging improper Input Tax Credit claims for FY23.
Why it mattersThe ₹48.59 crore demand is material relative to quarterly profitability (~61% of Q1 FY27 PAT of ₹79.7 crore), though actual cash outflow depends on the outcome of the adjudicating proceedings.
Total Demand: ₹48,58,65,992Tax Amount: ₹27,11,47,157Interest Amount: ₹18,76,04,118Penalty Amount: ₹2,71,14,717Demand vs Q1 FY27 Net Profit: ~61.0%
📅 Short termLimited immediate operational impact as this is an initial Show Cause Notice open for rebuttal, but negative sentiment may linger pending regulatory clarity.
📈 Long termLimited unless an adverse final adjudication order confirms the tax liability and penalty without relief upon appeal.
⚠ Risk flags
- Potential contingent liability if demand is upheld in final order
- Risk of cash outflow and litigation costs if escalated to higher appellate forums
Key Highlights
Total tax demand under Show Cause Notice stands at ₹48,58,65,992
Demand breakdown includes ₹27.11 crore in tax, ₹18.76 crore in interest, and ₹2.71 crore in penalty
Pertains to disallowance of Input Tax Credit for the period April 2022 to March 2023
Notice issued by the Deputy Commissioner, Large Taxpayers Unit, Bengaluru, dated September 5, 2026
👀 What to Watch
Track subsequent legal updates or final assessment orders from the GST authorities following the company's formal response to the notice.
ICRA Assigns '[ICRA]AA- (Stable)' Rating to JSW Dulux's Rs 250 Cr Bank Facilities
JSW Dulux Limited has received a credit rating assignment from ICRA Limited for its bank facilities. ICRA has assigned an '[ICRA]AA- (Stable)' rating for Rs 250.00 crore of long-term fund-based working capital / overdraft facilities with ICICI Bank. The high-grade credit rating reflects solid creditworthiness and debt-servicing capability. In the recent June 2026 quarter, the company reported revenue of Rs 965.0 crore and net profit of Rs 79.7 crore.
Confidence: HIGH
What changedICRA has assigned a new credit rating of '[ICRA]AA- (Stable)' to Rs 250.00 crore of bank credit facilities.
Why it mattersA high-tier AA- rating validates the company's strong credit profile, enabling competitive interest rates on bank borrowings and working capital limits.
Rated Bank Limits: Rs 250.00 croreAssigned Credit Rating: [ICRA]AA- (Stable)Lending Partner: ICICI BankRated Limit vs Jun 2026 Revenue: ~25.9%
📅 Short termNeutral to mildly positive as the rating confirms robust balance-sheet health without any near-term liquidity concerns.
📈 Long termSupports lower debt funding costs and reinforces operational flexibility for ongoing working capital requirements.
Key Highlights
ICRA assigned '[ICRA]AA-' rating with a Stable outlook for long-term fund-based facilities
Total rated bank limits stand at Rs 250.00 crore (Overdraft/WCDL with ICICI Bank)
Rating assignment date by the rating agency was August 25, 2026, communicated on September 4, 2026
Rated amount represents ~25.9% of Q1 FY27 (Jun 2026) quarterly revenue of Rs 965.0 crore
👀 What to Watch
Track subsequent quarterly financial performances and any changes in borrowing costs or working capital utilization.
JSW Dulux Proposes 1:10 Stock Split; Remote E-Voting Ends September 20, 2026
JSW Dulux Limited has issued a Postal Ballot Notice seeking shareholder approval for a 1:10 stock split, sub-dividing equity shares of face value Rs 10 each into face value Rs 1 each. The issued, subscribed, and paid-up share count will increase from 4,55,40,314 shares to 45,54,03,140 shares, keeping total paid-up equity capital unchanged at Rs 45,54,03,140. Remote e-voting opens on August 22, 2026, and concludes on September 20, 2026, with results to be declared on or before September 22, 2026.
Confidence: HIGH
What changedThe company has formally initiated shareholder voting via postal ballot to approve a 1:10 stock sub-division and related charter amendments.
Why it mattersA stock split enhances retail accessibility and market liquidity by reducing the per-share trading price tenfold without altering the company's financial fundamentals or overall market capitalization.
Pre-split face value: Rs 10Post-split face value: Rs 1Pre-split share count: 4,55,40,314Post-split share count: 45,54,03,140Paid-up capital: Rs 45,54,03,140E-voting closing date: 20th September 2026
📅 Short termShareholders will vote on the resolution until September 20, 2026; price action may reflect retail liquidity expectations ahead of the record date.
📈 Long termLimited fundamental impact, though improved trading liquidity and a larger shareholder base can benefit stock turnover over time.
Key Highlights
Sub-division of 1 equity share of face value Rs 10 each into 10 equity shares of face value Re 1 each
Paid-up share count expands from 4,55,40,314 shares to 45,54,03,140 shares of Rs 1 each
Authorized share capital of Rs 126.69 crore reclassified into 126.69 crore shares of Re 1 each
Remote e-voting window runs from August 22, 2026 to September 20, 2026 (Cut-off date: August 7, 2026)
Postal ballot results to be announced on or before September 22, 2026
👀 What to Watch
Track the postal ballot voting outcome on September 22, 2026, and subsequent announcement of the record date for the stock split.
JSW Dulux Executive Director & CBO Rohit Totla Resigns, Effective by Nov 17, 2026
JSW Dulux Limited has announced the resignation of Mr. Rohit Ghanshyamdas Totla from the position of Wholetime Director (Executive Director & Chief Business Officer) on August 21, 2026. His departure is attributed to personal and professional reasons, with his last working day scheduled on or before November 17, 2026. The executive confirmed there are no other material reasons for his departure. For context, the company reported revenue of ₹965.0 crore and net profit of ₹79.7 crore in the June 2026 quarter.
Confidence: HIGH
What changedExecutive Director and Chief Business Officer Rohit Ghanshyamdas Totla has submitted his resignation.
Why it mattersA transition in the Chief Business Officer role requires orderly handover to avoid disruption to commercial execution and sales strategy.
Resignation submission date: August 21, 2026Effective cessation date: On or before November 17, 2026Jun 2026 quarter revenue: ₹965.0 crJun 2026 quarter net profit: ₹79.7 cr
📅 Short termA transition period through mid-November 2026 provides ample time for smooth handover of responsibilities.
📈 Long termLimited structural impact assuming timely leadership succession and business continuity in sales and marketing.
⚠ Risk flags
- Leadership transition risk in commercial operations
Key Highlights
Mr. Rohit Ghanshyamdas Totla resigned as Executive Director & Chief Business Officer on August 21, 2026
Cessation will take effect on or before November 17, 2026 (close of business hours)
Departure is due to personal and professional reasons with no other material reasons cited
Company posted revenue of ₹965.0 crore and PAT of ₹79.7 crore in the June 2026 quarter
👀 What to Watch
Track upcoming company announcements regarding the appointment of a successor to head business operations.
JSW Dulux Q1 Revenue Up 18.8% to ₹965 Cr on 25% Volume Growth
JSW Dulux Limited (formerly Akzo Nobel India) released the transcript for its Q1 FY27 earnings conference call. The company reported a like-to-like revenue growth of 18.8% YoY to ₹965 crore (vs. ₹812 crore in Q1 FY26), driven by an underlying volume growth of ~25%. Operating profit (EBITDA) grew 14.7% YoY to ₹115.1 crore, while reported PAT reached ₹135.5 crore, aided by one-off items including ₹21.5 crore in tax refund interest and ₹55.9 crore in dividend income from an asset sale.
Confidence: HIGH
What changedSubmission of the formal transcript of the Q1 FY27 post-results investor conference call detailing operational integration with JSW Paints.
Why it mattersProvides clarity on volume growth, margin drivers, one-off gains in net profit, and ongoing synergy realization following the acquisition/transition to JSW Group.
Q1 FY27 Revenue: ₹965.0 crQ1 Revenue Growth (YoY): 18.8%Volume Growth: ~25%Operating Profit: ₹115.1 crReported PAT: ₹135.5 crOne-off Gains in PAT: ₹77.4 cr
📅 Short termStable to positive sentiment following solid volume growth commentary and gross margin relief expected from lower raw material cost replacement.
📈 Long termLong-term performance will depend on the successful integration with JSW Paints' manufacturing ecosystem and market share gains in decorative and industrial coatings.
⚠ Risk flags
- Raw material price volatility impacting gross margins
- Execution and governance risks during digital/ERP migration and related-party manufacturing arrangements
Key Highlights
Q1 FY27 revenue grew 18.8% YoY on a like-to-like basis to ₹965 crore vs ₹812 crore
Reported volume growth of approximately 25% (or 18-19% price-mix adjusted)
Operating profit rose 14.7% YoY to ₹115.1 crore with an EBITDA margin of 11.9%
Reported PAT of ₹135.5 crore was boosted by ₹21.5 crore interest on IT refund and ₹55.9 crore dividend income from ICI R&T
Realized initial synergy savings of ₹2.4 crore under 'Project Akshaya' integration with JSW Paints
👀 What to Watch
Track margin progression in coming quarters as high-cost raw material inventory normalizes, and monitor execution milestones on supply chain integration and ERP migration due by year-end.
CFO and Whole-time Director Krishna Rallapalli to resign effective October 14, 2026
JSW Dulux Limited (formerly Akzo Nobel India Limited) has announced the resignation of Mr. Krishna Rallapalli from his dual roles as Whole-time Director and Chief Financial Officer (CFO). The resignation was submitted on August 14, 2026, with his final working day set for October 14, 2026. The company cited personal and professional reasons for the departure, and the outgoing executive confirmed there are no other material reasons for his exit. This represents a significant change in the company's Key Managerial Personnel (KMP).
Confidence: HIGH
What changedThe company is losing its top financial executive and a board member, effective mid-October 2026.
Why it mattersThe CFO is a critical Key Managerial Personnel responsible for financial reporting, capital allocation, and investor relations; a smooth transition is essential for maintaining market confidence.
Effective Date of Resignation: October 14, 2026Notice Period: 61 daysCurrent Stock Price: Rs 3167.4
📅 Short termThe market may react with slight caution until a successor is named, though the two-month notice period mitigates immediate operational risk.
📈 Long termLimited structural impact assuming a qualified successor is appointed to maintain the company's financial discipline.
⚠ Risk flags
- Key Managerial Personnel vacancy
Key Highlights
Mr. Krishna Rallapalli resigned as Whole-time Director and CFO on August 14, 2026.
The effective date of cessation is October 14, 2026, providing a 2-month transition period.
The resignation includes his role as a Key Managerial Personnel (KMP) of the company.
The executive confirmed in his letter that there are no material reasons for resignation other than personal and professional ones.
👀 What to Watch
Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure continuity in financial leadership and strategic execution.
Resignation of Wholetime Director & CFO Krishna Rallapalli by October 14, 2026
JSW Dulux Limited has announced the resignation of Mr. Krishna Rallapalli from his dual roles as Wholetime Director and Chief Financial Officer (CFO). The resignation was tendered on August 14, 2026, citing personal and professional reasons, with no other material reasons reported. His last working day is scheduled for October 14, 2026, providing a two-month transition window. As a Key Managerial Personnel (KMP), his departure necessitates the appointment of a successor to oversee the company's financial operations and board-level responsibilities.
Confidence: HIGH
What changedThe company is losing its top financial executive and a board member, effective mid-October 2026.
Why it mattersThe CFO is a critical Key Managerial Personnel (KMP) responsible for financial strategy and compliance; a smooth transition is essential for maintaining operational stability in the competitive paints industry.
Resignation Date: August 14, 2026Effective Cessation Date: October 14, 2026Transition Period: 60 daysCurrent Stock Price: Rs 3160.0
📅 Short termThe stock is expected to remain neutral in the short term as the resignation is scheduled for two months in the future, allowing for an orderly transition.
📈 Long termThe long-term impact is limited provided the company identifies a competent successor to manage its financial strategy and integration within the JSW ecosystem.
⚠ Risk flags
- Succession risk if a new CFO is not appointed promptly
- Potential loss of institutional knowledge during the leadership change
Key Highlights
Resignation of Mr. Krishna Rallapalli as Wholetime Director and CFO effective October 14, 2026
Intimation of resignation submitted to exchanges on August 14, 2026
Transition period of approximately 60 days established for the handover of duties
Confirmation provided that there are no material reasons for resignation other than personal/professional ones
👀 What to Watch
Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure leadership continuity in financial management and reporting.
18.8% Revenue Growth in Q1 FY27; 25% Volume Surge Amidst Margin Pressure
JSW Dulux reported a strong 18.8% YoY revenue growth to ₹965 Cr for Q1 FY27, driven by a significant 25% surge in volumes. However, gross margins contracted to 37.4% from 43.5% in the previous year due to elevated raw material costs and a shift in business mix. While standalone PAT jumped 101.6% to ₹135.5 Cr, this was heavily supported by ₹77.4 Cr in one-off items including dividend income and IT refund interest. The company is targeting a Top 2 market position in the Decorative segment by 2031.
Confidence: HIGH
What changedThe company has transitioned to the JSW brand (formerly Akzo Nobel India) and is pursuing an aggressive volume-led growth strategy under the JSW Group umbrella.
Why it mattersThe results demonstrate strong market share gains (25% volume growth) but highlight the challenge of maintaining profitability amidst rising input costs and intense competition in the paints sector.
Net Revenue (Q1 FY27): ₹965.0 CrVolume Growth: 25%Gross Margin: 37.4%One-off Income (Standalone): ₹77.4 CrAggregate Capacity: 305 MLPAMarket Share (Decorative): 5%
📅 Short termThe stock may face pressure as the market digests the margin compression and the fact that the high standalone PAT growth was driven by non-recurring one-offs.
📈 Long termThe long-term outlook depends on the successful integration with JSW Paints and the ability to scale to a Top 2 player by 2031, leveraging the JSW ecosystem.
⚠ Risk flags
- Raw material price volatility (TiO2 and Crude)
- Margin dilution from business mix and high promotional spends
- Reliance on one-off income for standalone PAT growth
Key Highlights
Revenue grew 18.8% YoY to ₹965 Cr on a like-to-like basis for Q1 FY27
Volume growth recorded at 25% driven by gains in the premium portfolio
Gross Margin compressed by 610 bps to 37.4% due to raw material inflation and promotional spends
Standalone PAT includes ₹55.9 Cr dividend income and ₹21.5 Cr interest on IT refund
Realized ₹2.4 Cr in operational synergies through 'Project Akshaya' during the quarter
👀 What to Watch
Monitor the sustainability of the 25% volume growth and the company's ability to recover gross margins through price hikes. Watch for further synergy realizations from the JSW Group integration and progress toward the 2031 market share targets.
1:10 Stock Split and 49% YoY Profit Growth in Q1 FY27
JSW Dulux (formerly Akzo Nobel India) reported a 48.9% YoY increase in net profit to ₹135.5 crore for Q1 FY27, despite a 2.8% decline in revenue from operations to ₹965.0 crore. The profit growth was significantly bolstered by a sharp rise in 'Other Income,' which jumped to ₹81.3 crore from ₹9.0 crore in the previous year. The Board also approved a 1:10 stock split, reducing the face value from ₹10 to ₹1 to enhance share liquidity. Management highlighted double-digit volume growth and market share gains in the decorative paints segment.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and initiated a 1:10 stock split to improve retail participation.
Why it mattersThe results show strong margin resilience and bottom-line growth under new JSW ownership, while the stock split aims to improve liquidity for a high-priced stock (₹3157).
Revenue (Q1 FY27): ₹965.0 crNet Profit (Q1 FY27): ₹135.5 crOther Income: ₹81.3 crStock Split Ratio: 1:10EBITDA Growth: 14.7%
📅 Short termThe stock split announcement and strong profit growth are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe company is undergoing a structural shift under JSW Group ownership, focusing on market share gains and leveraging the group's scale for distribution.
⚠ Risk flags
- Revenue contraction YoY
- High reliance on 'Other Income' for the current quarter's profit growth
- Raw material inflation
Key Highlights
Net Profit increased 48.9% YoY to ₹135.5 crore from ₹91.0 crore in Q1 FY26
Revenue from operations stood at ₹965.0 crore, a 2.8% decline from ₹993.1 crore YoY
Other income surged to ₹81.3 crore compared to ₹9.0 crore in the same quarter last year
Approved a 1:10 stock split, converting 1 share of ₹10 face value into 10 shares of ₹1 each
EBITDA grew by 14.7% YoY, driven by cost management and calibrated price increases
👀 What to Watch
Investors should monitor the upcoming postal ballot for the stock split approval and the subsequent announcement of the record date. It is also important to track whether the revenue decline is a temporary transition phase under the new JSW branding.
JSW Dulux Q1 PAT Up 48.9% to ₹135.5 Cr; Board Approves 1:10 Stock Split
JSW Dulux (formerly Akzo Nobel India) reported a 48.9% YoY increase in Net Profit to ₹135.5 crore for Q1 FY27, significantly aided by a surge in 'Other Income' to ₹81.3 crore. Revenue from operations saw a marginal decline of 2.8% YoY to ₹965 crore, though management reported double-digit volume growth and a 14.7% EBITDA increase. The Board also approved a 1:10 stock split, reducing the face value from ₹10 to ₹1 to enhance liquidity and retail participation. This is the first major reporting cycle following the JSW Group's acquisition of the promoter stake in December 2025.
Confidence: HIGH
What changedThe company has reported its Q1 FY27 results and initiated a 1:10 stock split to improve share liquidity.
Why it mattersThe stock split addresses the high absolute share price (₹3157), potentially increasing retail trading volume. The earnings show strong bottom-line growth despite a slight top-line contraction, reflecting the new promoter's (JSW Group) focus on cost efficiency.
Net Profit (Q1 FY27): ₹135.5 croreStock Split Ratio: 1:10Revenue from Operations: ₹965 croreOther Income: ₹81.3 croreEBITDA Growth: 14.7%
📅 Short termThe stock split announcement and strong PAT growth are likely to be viewed positively by the market in the coming days, though the revenue dip may cap gains.
📈 Long termThe transition to JSW Group ownership and the focus on industrial coatings and premium decorative paints suggest a structural shift toward aggressive market share gains.
⚠ Risk flags
- Revenue contraction of 2.8% YoY
- High reliance on Other Income for PAT growth this quarter
- Raw material inflation impacting gross margins
Key Highlights
Net Profit increased 48.9% YoY to ₹135.5 crore in Q1 FY27 from ₹91 crore in Q1 FY26.
Approved 1:10 stock split, converting each ₹10 face value share into ten ₹1 face value shares.
Other Income grew nearly 9x to ₹81.3 crore compared to ₹9 crore in the previous year's corresponding quarter.
EBITDA grew by 14.7% YoY, supported by cost management despite raw material inflation.
Revenue from operations stood at ₹965 crore, down from ₹993.1 crore in the year-ago period.
👀 What to Watch
Investors should monitor the upcoming Postal Ballot for shareholder approval of the stock split and the subsequent announcement of the record date. It is also critical to track if the 'Other Income' boost is a one-off event and how the company manages raw material inflation in the decorative paints segment.
1:10 Stock Split: JSW Dulux to Sub-divide Shares from Rs 10 to Re 1 Face Value
JSW Dulux has approved a 1:10 stock split, reducing the face value of its equity shares from Rs 10 to Re 1. This corporate action aims to enhance liquidity and make the stock more accessible to retail investors, as the current market price is approximately Rs 3,157. The total authorized share capital remains unchanged at Rs 126.69 crore, while the number of issued shares will increase from 4.55 crore to 45.54 crore. The process is expected to be completed within two months following shareholder approval via postal ballot.
Confidence: HIGH
What changedThe company is sub-dividing its equity shares in a 1:10 ratio, reducing the face value from Rs 10 to Re 1.
Why it mattersThis move is intended to improve the stock's liquidity and broaden the retail shareholder base by making the share price more affordable in absolute terms.
Split Ratio: 1:10Current Face Value: Rs 10New Face Value: Re 1Post-split Share Count: 45,54,03,140Authorized Capital: Rs 1,26,69,00,000Current Market Price: Rs 3157.0
📅 Short termThe stock may experience increased trading activity and retail interest as the split makes the share price appear more accessible, though no fundamental value is added.
📈 Long termLimited structural significance; the primary long-term benefit is improved market liquidity and a potentially larger retail investor base.
Key Highlights
1:10 split ratio approved, converting each Rs 10 face value share into 10 shares of Re 1 each
Total authorized share capital remains constant at Rs 1,26,69,00,000
Issued, subscribed, and paid-up equity shares will increase from 4,55,40,314 to 45,54,03,140
Tentative completion timeline set within 2 months from the date of shareholder approval
Current market price of Rs 3,157.0 will adjust to approximately Rs 315.70 post-split
👀 What to Watch
Investors should watch for the announcement of the record date, which will be determined after the postal ballot results. Note that this is a liquidity-driven event and does not change the company's fundamental valuation or financial health.
JSW Dulux Q1 PAT up 49% to ₹135.5 Cr; Board Approves 1:10 Stock Split
JSW Dulux (formerly Akzo Nobel India) reported a 48.9% YoY increase in Net Profit to ₹135.5 crore for Q1 FY27, despite a 2.8% decline in reported revenue to ₹965 crore. Profitability was significantly bolstered by a surge in Other Income to ₹81.3 crore (up from ₹9.0 crore YoY) and a 14.7% growth in EBITDA. The Board also approved a 1:10 stock split, reducing the face value from ₹10 to ₹1 to enhance share liquidity. This is the first major quarterly performance update under the new JSW Group management.
Confidence: HIGH
What changedJSW Dulux reported its first Q1 results under JSW Group ownership and initiated a 1:10 stock split to improve retail liquidity.
Why it mattersThe results show strong margin expansion and profit growth despite revenue headwinds, signaling a shift toward the JSW Group's focus on premiumization and operational efficiency in the competitive paint industry.
Net Profit (Q1 FY27): ₹135.5 crRevenue (Q1 FY27): ₹965.0 crStock Split Ratio: 1:10Other Income: ₹81.3 crEBITDA Growth: 14.7%
📅 Short termThe stock is likely to react positively to the substantial profit growth and the liquidity-enhancing stock split announcement.
📈 Long termThe company is structurally pivoting under JSW ownership to gain market share in decorative and industrial segments, though sustainable revenue growth needs to be established.
⚠ Risk flags
- Reported revenue decline of 2.8% YoY
- Significant portion of profit growth derived from Other Income
- Raw material inflation impacting gross margins
Key Highlights
Net Profit increased 48.9% YoY to ₹135.5 crore for the quarter ended June 30, 2026
Reported Revenue from operations stood at ₹965 crore, a 2.8% decline from ₹993.1 crore in the previous year's quarter
Other Income surged to ₹81.3 crore from ₹9.0 crore YoY, significantly impacting the bottom line
Board approved a 1:10 stock split, converting each ₹10 face value share into ten ₹1 face value shares
Management reported 14.7% EBITDA growth driven by cost management and premium portfolio performance
👀 What to Watch
Monitor the upcoming Postal Ballot for the stock split record date and observe if the 'double-digit volume growth' claimed by management translates into reported revenue growth in Q2, as the current reported revenue showed a slight YoY decline.
JSW Dulux Targets #2 Industry Position; Reports 41.2% ROE and ₹3,599 Cr Revenue in FY26
JSW Dulux (formerly Akzo Nobel India) has outlined a transformative growth strategy following its integration into the JSW Group, aiming to become India's second-largest paint player. For FY26, the company reported revenue of ₹3,599.2 crore with 7% volume growth and a significant jump in Return on Equity (ROE) to 41.2% from 27.3% YoY. Management is focusing on aggressive market share gains in decorative paints and leadership in industrial coatings by 2031, supported by a current capacity of 305 million liters per annum.
Confidence: HIGH
What changedThe company has completed its transition from Akzo Nobel India to JSW Dulux, adopting a more aggressive growth mandate under JSW Group ownership.
Why it mattersThe shift from a multinational subsidiary to a core part of the JSW Group conglomerate provides the company with greater financial backing and synergy opportunities in B2B segments like automotive and infrastructure.
FY26 Revenue: ₹3,599.2 CroresReturn on Equity (ROE): 41.2%Manufacturing Capacity: 305 million liters p.a.EBITDA: ₹507.4 CroresVolume Growth: 7%
📅 Short termThe market is likely to react positively to the strong ROE figures and the clear roadmap for becoming the #2 player in a highly competitive industry.
📈 Long termThe structural integration with JSW Group could re-rate the stock if the company successfully leverages group synergies to disrupt the current paint industry hierarchy.
⚠ Risk flags
- Heightened competitive intensity in the Indian paints sector
- Volatility in crude oil prices affecting raw material costs
- Execution risk in scaling to the #2 market position
Key Highlights
Reported revenue from retained business of ₹3,599.2 Crores for FY26 with 7% volume growth.
Return on Equity (ROE) improved sharply to 41.2% from 27.3% in the preceding financial year.
Maintains a manufacturing capacity of 305 million liters per annum across 5 sites.
Distribution network now spans over 22,000 retailers and 5,000 towns.
Achieved an industry-leading EPS of ₹73.3 on a like-to-like basis for the retained business.
👀 What to Watch
Investors should monitor the company's ability to gain market share from incumbents while maintaining its high ROE. Key metrics to watch include the scaling of 'Dulux experiential blue stores' and progress toward the 2031 industrial leadership targets.
JSW Dulux 72nd AGM: Shareholders Consider ₹50 Final Dividend and New Statutory Auditor
JSW Dulux (formerly Akzo Nobel India) held its 72nd AGM on July 10, 2026, to formalize key resolutions including a final dividend of ₹50 per share. This brings the total dividend for FY 2025-26 to ₹206 per share, following an earlier interim payout of ₹156. The company also proposed the appointment of Deloitte Haskins & Sells LLP as statutory auditors for a five-year term starting FY 2026-27. Chairman Parth Jindal addressed shareholders regarding the company's transformation and performance, with 10 shareholders raising specific queries during the session.
Confidence: HIGH
What changedThe company has concluded its annual shareholder meeting, moving towards formalizing its FY26 dividend payout and transitioning its statutory audit firm.
Why it mattersThe meeting confirms a substantial cash return to shareholders (₹206 total for the year) and ensures governance continuity through the appointment of a Big Four audit firm for the next five years.
Final Dividend: ₹50 per shareInterim Dividend: ₹156 per shareTotal FY26 Dividend: ₹206 per shareAuditor Tenure: 5 yearsSpeaker Shareholders: 10
📅 Short termThe stock may see minor activity as the final dividend is formalized, though the market likely priced this in following the May 13 notice.
📈 Long termThe appointment of Deloitte as auditors for five years provides long-term audit stability and oversight for the JSW Group-led entity.
Key Highlights
Final dividend of ₹50 per equity share proposed for the financial year ended March 31, 2026
Total dividend for FY26 reaches ₹206 per share including the ₹156 interim dividend already paid
Deloitte Haskins & Sells LLP appointed as Statutory Auditors for a 5-year term (FY 2026-27 to FY 2030-31)
The 1 hour 45 minute meeting included participation and queries from 10 speaker shareholders
Re-appointment of directors Mr. Krishna Rallapalli and Mr. Rohit Ghanshyamdas Totla was put to vote
👀 What to Watch
Monitor the upcoming scrutinizer's report to be filed within the stipulated time to confirm the formal passing of all resolutions, particularly the final dividend and auditor appointment.
JSW Dulux (Formerly Akzo Nobel) Reports FY26 BRSR; Records ₹3,599 Cr Turnover Post-Acquisition
JSW Dulux Limited (formerly Akzo Nobel India) has filed its Business Responsibility and Sustainability Report for FY 2025-26, marking its first full reporting cycle under JSW Paints' ownership. The company reported a turnover of ₹3,599.2 crore and a net worth of ₹2,393 crore. Following the acquisition of a 61.2% stake by JSW Paints in December 2025, the company officially rebranded on March 11, 2026. While operations remain stable with 5 plants, investors should note a high employee turnover rate of 21.04% and a significant volume of pending customer complaints.
Key Highlights
JSW Paints Limited acquired a 61.20% controlling stake in December 2025, leading to the name change from Akzo Nobel India to JSW Dulux.
Reported annual turnover of ₹3,599.2 crore for FY 2025-26, derived entirely from the manufacturing of paints and varnishes.
Permanent employee turnover rate is relatively high at 21.04%, compared to 19% in the previous year.
The company handled 2,061 customer complaints during the year, with 679 (approx. 33%) still pending resolution at year-end.
Maintains a national footprint with 5 manufacturing plants and 4 offices, serving 24 states and 4 international markets.
👀 What to Watch
Investors should monitor the company's operational efficiency under the new JSW management, specifically looking for improvements in the high employee turnover and customer grievance redressal speed. The transition to the JSW brand identity is a critical phase for market positioning.
JSW Dulux FY26: Revenue at ₹3,599 Cr, Total Dividend of ₹206/Share, Sets AGM for July 10
JSW Dulux Limited (formerly Akzo Nobel India) reported a resilient FY26 with revenue of ₹3,599.2 crore and 7% volume growth. Following its acquisition by the JSW Group in December 2025, the company declared a massive total dividend of ₹206 per share for the year. The company is now integrating with the JSW ecosystem, aiming for a Top 2 position in the Indian paints market. The 72nd Annual General Meeting is scheduled for July 10, 2026, to finalize the year's proceedings.
Key Highlights
Reported Revenue from operations of ₹3,599.2 crore and PAT of ₹1,973.8 crore for FY25-26.
Declared a record total dividend of ₹206 per share, including a final dividend of ₹50.
Achieved 7% volume growth while maintaining double-digit profitability for the seventh consecutive year.
JSW Paints became the new promoter in Dec 2025, targeting a Top 2 market position in Decorative and Industrial paints.
Maintains a strong distribution network of 22,000+ retailers and 16,000+ tinting machines across 5,000 towns.
👀 What to Watch
Investors should capitalize on the high dividend yield and monitor the company's transition under JSW leadership for potential market share gains. The stock remains attractive for those seeking a blend of legacy brand value (Dulux) and JSW's aggressive growth execution.
JSW Paints Declares Zero Encumbrance on 2.78 Crore Shares of JSW Dulux Limited
JSW Paints Limited, acting as the promoter of JSW Dulux Limited, has submitted its annual disclosure under SEBI Takeover Regulations for the period ending March 31, 2026. The promoter confirmed a holding of 2,78,71,723 equity shares in the company. Crucially, the filing declares that none of these shares are encumbered or pledged, directly or indirectly. This transparency confirms that the promoter's stake is free from lien or debt-related risks.
Key Highlights
JSW Paints Limited holds 2,78,71,723 equity shares in JSW Dulux Limited as of March 31, 2026.
Promoter confirms zero encumbrance or pledging of the held shares during the financial year.
Compliance filing made under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
👀 What to Watch
Investors can take comfort in the fact that the promoter's stake is unencumbered, indicating financial stability; no immediate action is required as this is a routine regulatory filing.
JSW Dulux Q4 FY26: Record 23% Volume Growth and INR 50 Final Dividend Announced
JSW Dulux (formerly Akzo Nobel India) reported a record 23% volume growth in Q4 FY26, driven by aggressive price corrections and market share gains under new JSW ownership. Revenue grew by 6.2%, reflecting a gap with volume due to strategic price reductions in premium categories to match competitors. Despite raw material inflation of 24-25%, the company maintained an EBITDA margin of 14.4% and realized INR 64.8 crores from real estate sales. The Board has recommended a final dividend of INR 50 per share for the fiscal year.
Key Highlights
Achieved record volume growth of 23% across both decorative and industrial verticals.
Revenue increased by 6.2% while EBITDA margin was maintained at 14.4%.
Board recommended a final dividend of INR 50 per share for FY25-26.
Realized INR 64.8 crores in one-time income from the sale of real estate assets in March 2026.
Implemented 9.7% price increases to combat 24-25% raw material cost inflation, with a 3-4% gap still to be bridged.
👀 What to Watch
Investors should focus on the company's successful volume-led growth strategy and the ongoing integration with JSW Group which could provide long-term synergies. Monitor the impact of further price hikes on demand as the company seeks to offset elevated raw material costs.
