JSW Dulux Limited (JSWDULUX)

JSW Dulux Limited received a favorable Appeal Order dated October 8, 2026, from the Commissioner of Appeals, Madhya Pradesh GST Department, which was received by the company on October 13, 2026. The order completely annuls a prior demand order dated August 28, 2024, that had disallowed Input Tax Credit (ITC) totaling Rs 77,13,373 (comprising Rs 70,12,157 in tax and Rs 7,01,216 in penalty). As per the appellate order, the finalized demand amount is reduced to Nil. Given JSW Dulux's TTM revenue of Rs 3,577 Cr, the resolved dispute was negligible in financial scale (<0.01% of revenue).

• Original demand of Rs 77,13,373 (Tax: Rs 70,12,157; Penalty: Rs 7,01,216) completely annulled to Nil
• Appeal Order dated October 8, 2026, received by the company on October 13, 2026
• Dispute related to disallowance of Input Tax Credit for the period July 2022 to March 2023 under Section 73 of CGST/SGST Act
• Total exposure represented less than 0.01% of TTM revenue of Rs 3,577 Cr

JSW Dulux Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was issued on 9th October 2026 by Registrar and Transfer Agent MUFG Intime India Private Limited for the quarter ended 30th September 2026. It confirms that share certificates received for dematerialisation were duly processed, rejected or cancelled, and depositories updated within required timelines. This is a standard quarterly administrative filing with no financial or operational impact.

• Compliance certificate received under Regulation 74(5) for the quarter ended 30th September 2026
• Certificate issued on 9th October 2026 by RTA MUFG Intime India Private Limited
• Filing submitted to BSE and NSE on 12th October 2026

JSW Dulux Limited has received a Show Cause Notice dated September 30, 2026, under Section 73 of the CGST Act from the Assistant Commissioner, Mohali, Punjab GST Department. The notice pertains to the disallowance of Input Tax Credit for FY 2022-23 (April 2022 to March 2023). The total financial implication claimed is ₹11,83,596, which includes tax of ₹6,50,327, interest of ₹4,68,236, and a penalty of ₹65,033. The company intends to submit its response within the stipulated time, and the amount is immaterial compared to the company's quarterly revenue of ₹965.0 crore.

• Received Show Cause Notice under Section 73 of CGST Act on October 1, 2026
• Total demanded liability stands at ₹11,83,596 regarding ITC disallowance for FY23
• Disputed sum consists of ₹6,50,327 tax, ₹4,68,236 interest, and ₹65,033 penalty
• Company is in the process of submitting its reply to the Asst. Commissioner, Mohali

JSW Dulux Limited announced the resignation of Mr. Rajiv Lochan Jha from the role of General Counsel, Company Secretary, and Compliance Officer (Key Managerial Personnel) on October 1, 2026. The resignation was tendered to pursue external professional opportunities, with no other material reasons cited. His last working day will be on or before December 3, 2026. The company reported revenue of Rs 965.0 crore and net profit of Rs 79.7 crore in the June 2026 quarter.

• Rajiv Lochan Jha tendered his resignation via letter dated October 1, 2026
• Last working day designated on or before December 3, 2026 (close of business hours)
• Resigned from positions of General Counsel, Company Secretary, and Compliance Officer (KMP)
• Confirmation provided that there are no other material reasons for the resignation

JSW Dulux Limited announced the resignation of Mr. Rajiv Lochan Jha from his position as General Counsel, Company Secretary, Compliance Officer, and Key Managerial Personnel on October 1, 2026. The departure is to pursue professional opportunities outside the company, with no other material reasons cited. His last working day will be on or before December 3, 2026. The company recently reported Q1 FY27 revenue of Rs 965.0 crore and net profit of Rs 79.7 crore.

• Resignation tendered on October 1, 2026, by Rajiv Lochan Jha (F5948)
• Last working day specified as on or before December 3, 2026
• Roles vacated include General Counsel, Company Secretary, Compliance Officer, and KMP
• No material reasons reported other than pursuing outside professional opportunities

JSW Dulux Limited received a Show Cause Notice dated September 23, 2026, under Section 73 of the CGST Act from the West Bengal GST Department. The notice demands an aggregate sum of Rs 56,72,479.04 covering Input Tax Credit disallowance for the period April 2022 to March 2023. The total amount comprises Rs 29,63,727 in tax, Rs 24,12,379.24 in interest, and Rs 2,96,372.80 in penalty. Management stated that this is a show cause notice and the company is preparing to respond within the stipulated timeline.

• Received GST Show Cause Notice on September 24, 2026, claiming a total liability of Rs 56,72,479.04
• Notice includes tax demand of Rs 29,63,727 for disallowed Input Tax Credit from April 2022 to March 2023
• Includes interest of Rs 24,12,379.24 and penalty of Rs 2,96,372.80
• Demand represents a negligible fraction (<0.1%) of Jun 2026 quarterly revenue of Rs 965.0 cr

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.

• 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

JSW Dulux Limited announced the results of its postal ballot completed on September 20, 2026. Shareholders approved all three resolutions, including a sub-division/stock split of equity shares and consequential alterations to the Memorandum and Articles of Association. Total votes polled stood at 39,071,143 shares (85.795% of outstanding shares), with over 99.99% voting in favour. The resolutions are deemed passed as of September 20, 2026.

• Shareholders approved sub-division/split of the face value of equity shares with 99.9991% votes in favour
• Alterations to Capital Clauses of MOA and AOA passed with 99.9990% and 99.9986% approval respectively
• Overall voting participation reached 85.795% across 39,071,143 polled shares out of 45,540,314 total shares
• Promoter group polled 100% of their 27,871,723 shares entirely in favour

JSW Dulux Limited (formerly Akzo Nobel India Limited) has announced the completion of its remote e-voting for a postal ballot on September 20, 2026. The postal ballot sought shareholder approval for three resolutions, primarily the sub-division/split of equity shares and consequential alterations to the Capital Clauses of the MOA and AOA. The scrutinizer is scheduled to submit the final report within 48 hours of e-voting closure, after which official voting results will be declared.

• Remote e-voting ended at 5:00 PM IST on September 20, 2026
• Shareholder approval sought for sub-division/split of the face value of equity shares
• Cut-off date for eligibility was August 7, 2026
• Scrutinizer report expected within 48 hours of closure to finalize voting results

JSW Dulux Limited has informed the exchanges regarding an upcoming Analyst/Institutional Investor meeting scheduled for Friday, September 18, 2026, at 9:00 am. The company will participate in the Jefferies 5th India Forum held physically at The Oberoi, Gurgaon. The interactions will include 1-on-1 and group formats. The company explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be shared during the interactions.

• Meeting scheduled for Friday, 18th September 2026 at 9:00 am
• Event: Jefferies 5th India Forum held at The Oberoi, Gurgaon
• Interaction format: Physical mode covering 1X1 and Group meetings
• Management confirmed no Unpublished Price Sensitive Information (UPSI) will be shared

JSW Dulux Limited has received a Show Cause Notice from the Karnataka GST Department proposing a total liability of Rs 10.61 crore for the period April 2022 to March 2023. The demand includes Rs 6.17 crore in tax, Rs 3.82 crore in interest, and Rs 0.62 crore in penalty due to the disallowance of Input Tax Credit. Compared to the company's June 2026 quarterly profit of Rs 79.7 crore, the total disputed sum represents approximately 13.3% of quarterly PAT. The company stated that this is a Show Cause Notice and it is in the process of submitting its response within the stipulated timeline.

• Received Show Cause Notice u/s 73 of CGST Act dated 10.09.2026 on 14.09.2026 from Karnataka GST Department
• Total demanded liability stands at Rs 10,60,96,432 for the period April 2022 to March 2023
• Demand breakdown includes Rs 6,17,03,450 tax, Rs 3,82,22,637 interest, and Rs 61,70,345 penalty
• Pertains to disallowance of Input Tax Credit (ITC); management preparing formal response

JSW Dulux Limited received a favorable Refund Order dated September 5, 2026, from the Karnataka GST Department (LGSTO 38, Bengaluru), received on September 7, 2026. The order grants a total refund of ₹10,81,413 (comprising ₹9,89,064 tax and ₹92,349 interest) and waives the ₹9,89,064 penalty previously demanded under Section 129(3) of the SGST Act. Consequently, the original demand order dated December 30, 2024, stands annulled. The financial impact is negligible relative to the company's quarterly revenue of ₹965.0 crore in Jun 2026.

• Total refund order received of ₹10,81,413 comprising ₹9,89,064 tax and ₹92,349 interest
• Full waiver of ₹9,89,064 penalty issued under Section 129(3) of the SGST Act/Rules, 2017
• Original Karnataka GST Demand Order dated December 30, 2024, stands annulled following appeal
• Dispute related to E-Way Bill No. 162008896389 and Invoice No. 118293 dated December 24, 2024