JSW Dulux Ltd has announced a 1:10 stock split to increase share liquidity, even as it reported a 12.4% decline in quarterly net profit to ₹79.7 crore. Rising raw material costs weighed on profit margins, though the company saw strong volume growth in its retained business segment. Investors are now tracking how the company manages input costs and the timeline for the share split approval.
JSW Dulux Ltd, formerly Akzo Nobel India, reported a 12.4% decline in consolidated net profit for the first quarter of FY27, posting ₹79.7 crore compared to ₹91 crore in the same period last year. Revenue for the quarter also saw a minor dip of 2.8%, falling to ₹965 crore from ₹993.1 crore. The company faced challenges from raw material inflation, which caused its EBITDA margin to shrink to 11.93% from 13.54% a year earlier.
Despite the headline decline in profit, the company’s retained business segment showed signs of operational strength. On a comparable basis, this specific segment achieved a 25% increase in volume growth. Revenue for this segment rose by 18.8% to ₹965 crore, while profit after tax for the retained business more than doubled, growing 101.6% to ₹135.5 crore. This suggests that while overall consolidated figures were impacted, the core business area that the company is currently focusing on remains active.
Alongside the financial update, the company’s board approved a 1:10 stock split. This move will reduce the face value of each equity share from ₹10 to ₹1. Chairman Parth Jindal noted that the decision is intended to make share ownership more accessible to a wider pool of investors and improve trading liquidity on the stock exchanges. The proposal is subject to necessary approvals from shareholders and regulators.
The stock market reacted positively to the update, with shares of JSW Dulux rising 3.29% to close at ₹3,157.10 on August 11, 2026. The company continues to operate in a competitive paints and coatings sector, where price competition and fluctuating raw material costs are common risks. Management has indicated that they are using calibrated price adjustments to manage inflationary pressure on raw materials.
Investors should note that the company has recently undergone significant corporate restructuring, including a slump sale of specific business units. This context is important for analyzing year-on-year financial comparisons, as the current results may not be directly comparable to older periods. Looking ahead, key monitorables for shareholders include the timeline for the stock split, sustained volume growth in the retained business, and the company's ability to protect profit margins against potential spikes in raw material prices.