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JSW Dulux Limited announced its audited financial results for the fiscal year ending March 31, 2026. The company reported a consolidated net profit of ₹429.50 crore. Standalone net profit stood at ₹428.60 crore on standalone revenue of ₹3,599.20 crore. Consolidated revenue for the year reached ₹3,697.70 crore.
The Board of Directors has recommended a final dividend of ₹50 per equity share for FY 2025-26. This recommendation brings the total dividend for FY 2025-26 to ₹206 per equity share, which includes a special interim dividend already paid. The record date for this final dividend is set for July 3, 2026, and the company's Annual General Meeting is scheduled for July 10, 2026.
A significant change involves the appointment of M/s. Deloitte Haskins & Sells LLP as the new statutory auditors for a five-year term. Additionally, M/s. Chandra Wadhwa & Co. will serve as the Cost Auditor for FY 2026-27. Ms. Ritika Chopra has joined the senior management team, effective May 13, 2026.
Why this matters
The substantial final dividend payout offers direct returns to shareholders, reflecting positive profitability. The appointment of Deloitte as the new auditor for a long tenure signals a focus on strong financial oversight. These announcements provide clarity on the company's financial performance and future shareholder distributions.
The backstory
JSW Dulux Limited was formerly known as AkzoNobel India before the JSW Group acquired a majority stake, leading to its rebranding as JSW Paints Limited. The company has a history of providing significant shareholder returns. In FY 2025-26 (prior year data) and FY 2024-25, the company had paid a total dividend of ₹100 per share, comprising ₹50 interim and ₹50 final dividends. The preceding statutory auditor was Walker Chandiok & Co LLP. Past financial statements have featured significant exceptional items, such as the ₹1,846 crore reported for FY26, often linked to strategic business decisions or asset realignments.
What changes now
Shareholders can anticipate receiving a ₹50 per equity share final dividend, pending approval at the AGM. The company will now undergo a fresh five-year audit cycle with Deloitte Haskins & Sells LLP, aiming to enhance financial transparency. The addition of Ms. Ritika Chopra to senior management brings fresh perspectives, while the continuity of the cost audit ensures efficient tracking of operational expenses.
Risks to watch
Geopolitical situations and a sharp increase in raw material prices observed in March 2026 could affect market conditions and profit margins. The company has also acknowledged potential financial implications from new Labour Codes, which could increase employee benefit obligations.
Peer comparison
JSW Paints operates in a competitive market alongside major players like Asian Paints and Berger Paints. Asian Paints, India's largest paint company, reported FY25 revenue of approximately ₹39,666 crore and a net profit of around ₹3,146 crore. Berger Paints, another significant competitor, posted FY25 revenue of roughly ₹10,740 crore and a net profit of ₹1,009 crore. JSW Paints' reported FY26 consolidated revenue of ₹3,697 crore and profit of ₹429 crore highlight its considerable market presence, particularly when considering its substantial exceptional items.
What to track next
Investors will be watching the outcome of the AGM regarding the final dividend approval. Management commentary on navigating raw material price volatility and the impacts of labour code changes will be important. Performance trends in Q1 FY27 and any forward guidance will also be key. Finally, tracking the integration and synergy realization from the new auditor and management appointments will provide further insight.