JSW Dulux Ltd.
JSWDULUXConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220603 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220818 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221116 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230215 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230530 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230808 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231109 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240209 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240521 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240805 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241112 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250210 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250520 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250808 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251112 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260209 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260521 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260818 | 2026-06-30 | yes |
JSWDULUX
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 3,132.30 |
| 52-week range | 2714.5 – 3633.9 |
| Return 1M | 0.58% |
| Return 3M | -2.09% |
| Return 1Y | -7.6% |
| Return 3Y | 24.85% |
| Return 5Y | 41.92% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 965.00 |
| Other income | 26.00 |
| Total income | 991.00 |
| Cost of materials consumed | 636.00 |
| Purchases of stock-in-trade | 44.00 |
| Changes in inventories | -76.00 |
| Employee benefit expense | 83.00 |
| Finance costs | 3.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.61 | 0.00 |
| institutions foreign | 0.09 | 0.00 |
| institutions domestic | 0.22 | 0.00 |
| mutual funds | 0.19 | 0.00 |
| public | 0.39 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 926.00 | 987.00 | 951.00 | 999.00 | 956.00 | 1,033.00 | 973.00 | 1,036.00 | 982.00 | 1,050.00 | 1,022.00 | 995.00 | 835.00 | 908.00 | 883.00 | 965.00 |
| Other income | 5.00 | 12.00 | 6.00 | 8.00 | 9.00 | 8.00 | 10.00 | 10.00 | 9.00 | 6.00 | 3.00 | 9.00 | 8.00 | 15.00 | 67.00 | 26.00 |
| Total income | 931.00 | 999.00 | 957.00 | 1,007.00 | 965.00 | 1,041.00 | 984.00 | 1,046.00 | 991.00 | 1,056.00 | 1,025.00 | 1,004.00 | 843.00 | 922.00 | 950.00 | 991.00 |
| Cost of materials consumed | 577.00 | 481.00 | 490.00 | 516.00 | 511.00 | 461.00 | 522.00 | 529.00 | 575.00 | 509.00 | 549.00 | 519.00 | 441.00 | 438.00 | 471.00 | 636.00 |
| Purchases of stock-in-trade | 22.00 | 44.00 | 76.00 | 47.00 | 54.00 | 55.00 | 52.00 | 54.00 | 58.00 | 52.00 | 48.00 | 42.00 | 54.00 | 48.00 | 40.00 | 44.00 |
| Changes in inventories | -29.00 | 77.00 | -21.00 | 6.00 | -36.00 | 62.00 | -27.00 | -9.00 | -80.00 | 49.00 | -16.00 | 9.00 | -5.00 | 40.00 | 14.00 | -76.00 |
| Employee benefit expense | 76.00 | 77.00 | 73.00 | 83.00 | 83.00 | 82.00 | 80.00 | 89.00 | 87.00 | 78.00 | 84.00 | 98.00 | 73.00 | 67.00 | 75.00 | 83.00 |
| Finance costs | 3.00 | 3.00 | 6.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 | 1.00 | 3.00 | 2.00 | 3.00 | 2.00 | 3.00 | 4.00 | 3.00 |
| Depreciation and amortisation | 20.00 | 21.00 | 22.00 | 19.00 | 21.00 | 20.00 | 22.00 | 22.00 | 22.00 | 23.00 | 22.00 | 18.00 | 18.00 | 19.00 | 20.00 | 20.00 |
| Other expenses | 173.00 | 165.00 | 179.00 | 185.00 | 202.00 | 207.00 | 185.00 | 205.00 | 196.00 | 196.00 | 198.00 | 194.00 | 161.00 | 179.00 | 157.00 | 163.00 |
| Total expenses | 843.00 | 868.00 | 825.00 | 860.00 | 838.00 | 890.00 | 837.00 | 892.00 | 860.00 | 910.00 | 887.00 | 882.00 | 745.00 | 793.00 | 781.00 | 873.00 |
| Profit before exceptional items and tax | 88.00 | 132.00 | 133.00 | 148.00 | 127.00 | 152.00 | 147.00 | 154.00 | 132.00 | 146.00 | 138.00 | 122.00 | 98.00 | 130.00 | 170.00 | 118.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,874.00 | -28.00 | 0.00 | 0.00 |
| Profit before tax | 88.00 | 132.00 | 133.00 | 148.00 | 127.00 | 152.00 | 147.00 | 154.00 | 132.00 | 146.00 | 138.00 | 122.00 | 1,972.00 | 101.00 | 170.00 | 118.00 |
| Current tax | 24.00 | 35.00 | 39.00 | 40.00 | 33.00 | 38.00 | 40.00 | 42.00 | 35.00 | 36.00 | 28.00 | 33.00 | 258.00 | 18.00 | 23.00 | 22.00 |
| Deferred tax | -1.00 | -1.00 | -2.00 | -2.00 | -0.00 | -0.00 | -1.00 | -2.00 | -1.00 | 2.00 | 1.00 | -1.00 | 32.00 | 9.00 | 21.00 | 16.00 |
| Tax expense | 23.00 | 34.00 | 37.00 | 38.00 | 33.00 | 38.00 | 38.00 | 40.00 | 34.00 | 38.00 | 29.00 | 31.00 | 289.00 | 27.00 | 44.00 | 38.00 |
| Profit for the period | 65.00 | 97.00 | 95.00 | 110.00 | 94.00 | 114.00 | 109.00 | 115.00 | 98.00 | 109.00 | 108.00 | 91.00 | 1,683.00 | 74.00 | 126.00 | 80.00 |
| Profit attributable to owners | — | — | — | — | — | — | — | 0.00 | — | — | — | — | — | — | — | — |
| Profit attributable to non-controlling interests | — | — | — | — | — | — | — | 0.00 | — | — | — | — | — | — | — | — |
| Other comprehensive income | -3.00 | -1.00 | -4.00 | -1.00 | 1.00 | -1.00 | -2.00 | -1.00 | -2.00 | 2.00 | 4.00 | -3.00 | 2.00 | -5.00 | 1.00 | -0.00 |
| Total comprehensive income | 62.00 | 97.00 | 91.00 | 109.00 | 95.00 | 112.00 | 107.00 | 114.00 | 96.00 | 111.00 | 112.00 | 88.00 | 1,684.00 | 69.00 | 127.00 | 79.00 |
| Earnings per share, basic | 14.37 | 21.39 | 20.94 | 24.12 | 20.70 | 24.99 | 23.87 | 25.17 | 21.49 | 23.85 | 23.80 | 19.98 | 369.51 | 16.32 | 27.60 | 17.51 |
| Earnings per share, diluted | 14.37 | 21.29 | 20.94 | 24.12 | 20.70 | 24.99 | 23.87 | 25.17 | 21.49 | 23.85 | 23.80 | 19.98 | 369.51 | 16.32 | 27.60 | 17.51 |
Annual results, as filed
| Line | 2018-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,719.00 | 2,662.00 | 2,421.00 | 3,149.00 | 3,802.00 | 3,962.00 | 4,091.00 | 3,599.00 |
| Other income | 44.00 | 38.00 | 23.00 | 23.00 | 27.00 | 36.00 | 28.00 | 98.00 |
| Total income | 2,763.00 | 2,699.00 | 2,445.00 | 3,171.00 | 3,829.00 | 3,997.00 | 4,119.00 | 3,698.00 |
| Cost of materials consumed | 1,321.00 | 1,201.00 | 1,166.00 | 1,775.00 | 2,081.00 | 2,009.00 | 2,163.00 | 1,868.00 |
| Purchases of stock-in-trade | 181.00 | 268.00 | 174.00 | 194.00 | 202.00 | 208.00 | 212.00 | 183.00 |
| Changes in inventories | 24.00 | -26.00 | -17.00 | -90.00 | 7.00 | 5.00 | -56.00 | 57.00 |
| Employee benefit expense | 280.00 | 256.00 | 252.00 | 264.00 | 301.00 | 328.00 | 337.00 | 313.00 |
| Finance costs | 4.00 | 9.00 | 10.00 | 14.00 | 14.00 | 12.00 | 10.00 | 12.00 |
| Depreciation and amortisation | 58.00 | 79.00 | 76.00 | 76.00 | 82.00 | 82.00 | 89.00 | 75.00 |
| Other expenses | 614.00 | 584.00 | 506.00 | 574.00 | 686.00 | 779.00 | 794.00 | 669.00 |
| Total expenses | 2,482.00 | 2,371.00 | 2,166.00 | 2,807.00 | 3,374.00 | 3,424.00 | 3,549.00 | 3,178.00 |
| Profit before exceptional items and tax | 281.00 | 328.00 | 278.00 | 365.00 | 456.00 | 573.00 | 570.00 | 520.00 |
| Exceptional items | 2.00 | -5.00 | 0.00 | 2.00 | 0.00 | 0.00 | 0.00 | 1,846.00 |
| Profit before tax | 283.00 | 323.00 | 278.00 | 367.00 | 456.00 | 573.00 | 570.00 | 2,365.00 |
| Current tax | 76.00 | 93.00 | 76.00 | 78.00 | 126.00 | 151.00 | 141.00 | 331.00 |
| Deferred tax | 2.00 | -7.00 | -6.00 | -1.00 | -5.00 | -4.00 | -0.00 | 60.00 |
| Tax expense | 78.00 | 86.00 | 71.00 | 77.00 | 121.00 | 146.00 | 140.00 | 392.00 |
| Profit for the period | 400.00 | 237.00 | 208.00 | 290.00 | 335.00 | 427.00 | 429.00 | 1,974.00 |
| Profit attributable to owners | 0.00 | 0.00 | — | — | — | — | — | — |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | — | — | — | — | — | — |
| Other comprehensive income | 5.00 | -4.00 | -2.00 | -0.00 | -5.00 | -3.00 | 3.00 | -5.00 |
| Total comprehensive income | 405.00 | 234.00 | 205.00 | 290.00 | 330.00 | 424.00 | 433.00 | 1,968.00 |
| Earnings per share, basic | 85.75 | 52.13 | 45.60 | 63.70 | 73.58 | 93.68 | 94.31 | 433.42 |
| Earnings per share, diluted | 85.75 | 52.13 | 45.60 | 63.70 | 73.58 | 93.68 | 94.31 | 433.42 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 2,673.00 | 2,740.00 | 2,856.00 | 2,904.00 | 3,166.00 | 2,903.00 | 3,651.00 | 3,795.00 |
| Non-current assets | 885.00 | 872.00 | 905.00 | 982.00 | 971.00 | 902.00 | 1,843.00 | 2,008.00 |
| Current assets | 1,788.00 | 1,868.00 | 1,951.00 | 1,922.00 | 2,194.00 | 1,672.00 | 1,807.00 | 1,787.00 |
| Property, plant and equipment | 511.00 | 507.00 | 509.00 | 523.00 | 560.00 | 479.00 | 427.00 | 461.00 |
| Capital work-in-progress | 54.00 | 73.00 | 68.00 | 119.00 | 92.00 | 67.00 | 0.00 | 49.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 5.00 | 4.00 | 4.00 | 3.00 | 2.00 | 2.00 | 1,153.00 | 1,153.00 |
| Inventories | 705.00 | 598.00 | 606.00 | 611.00 | 743.00 | 605.00 | 611.00 | 571.00 |
| Trade receivables | 558.00 | 552.00 | 565.00 | 575.00 | 624.00 | 585.00 | 535.00 | 603.00 |
| Cash and cash equivalents | 185.00 | 315.00 | 270.00 | 274.00 | 429.00 | 248.00 | 250.00 | 270.00 |
| Total equity and liabilities | 2,673.00 | 2,740.00 | 2,856.00 | 2,904.00 | 3,166.00 | 2,903.00 | 3,651.00 | 3,795.00 |
| Equity | 1,242.00 | 1,316.00 | 1,338.00 | 1,330.00 | 1,426.00 | 1,330.00 | 2,255.00 | 2,452.00 |
| Equity share capital | 46.00 | 46.00 | 46.00 | 46.00 | 46.00 | 46.00 | 46.00 | 46.00 |
| Other equity | 1,197.00 | 1,271.00 | 1,293.00 | 1,284.00 | 1,380.00 | 1,285.00 | 2,210.00 | 2,406.00 |
| Total liabilities | 1,431.00 | 1,424.00 | 1,518.00 | 1,574.00 | 1,740.00 | 1,573.00 | 1,395.00 | 1,344.00 |
| Non-current liabilities | 156.00 | 160.00 | 149.00 | 150.00 | 164.00 | 123.00 | 123.00 | 201.00 |
| Current liabilities | 1,275.00 | 1,264.00 | 1,369.00 | 1,424.00 | 1,577.00 | 1,369.00 | 1,272.00 | 1,143.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 907.00 | 894.00 | 946.00 | 998.00 | 1,163.00 | 956.00 | 856.00 | 756.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 136.00 | 486.00 | 277.00 | 485.00 | 247.00 | 311.00 | -195.00 | 93.00 |
| Net cash from investing activities | 76.00 | -15.00 | -122.00 | -86.00 | 34.00 | 123.00 | 1,057.00 | 804.00 |
| Net cash from financing activities | -172.00 | -302.00 | -197.00 | -439.00 | -127.00 | -460.00 | -860.00 | -875.00 |
| Purchase of property, plant and equipment | 40.00 | 104.00 | 42.00 | 119.00 | 41.00 | 107.00 | 24.00 | 47.00 |
| Net increase in cash | 40.00 | 170.00 | -45.00 | -41.00 | 155.00 | -26.00 | 2.00 | 22.00 |
| con:CFO.BEFORE_TAX | 196.00 | 629.00 | 352.00 | 656.00 | 323.00 | 476.00 | -38.00 | 168.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 60.00 | 142.00 | 76.00 | 171.00 | 76.00 | 165.00 | 157.00 | 75.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.00 | 84.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 74.76 | 0.70 | 0.61 | 0.61 | 0.61 |
| Domestic institutions | 8.99 | 8.75 | 8.61 | 8.55 | 8.37 | 8.28 | 8.11 | 8.05 | 8.50 | 8.57 | 0.14 | 0.21 | 0.22 | 0.22 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 6.23 | 0.11 | 0.18 | 0.19 | 0.19 |
| Insurance companies | 2.95 | 2.75 | 2.44 | 2.43 | 2.42 | 2.42 | 2.21 | 2.19 | 2.19 | 2.22 | 0.02 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 2.97 | 3.15 | 3.14 | 3.20 | 3.42 | 3.62 | 3.74 | 3.85 | 3.67 | 3.70 | 0.08 | 0.09 | 0.08 | 0.09 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 25.24 | 0.30 | 0.39 | 0.39 | 0.39 |
| Non-institutional | 13.28 | 13.34 | 13.49 | 13.49 | 13.45 | 13.33 | 13.39 | 13.34 | 13.07 | 12.98 | 0.09 | 0.10 | 0.09 | 0.08 |
| Shares outstanding | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 | 45540314 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Akzo Nobel Coatings International B.V. | Holding company | Any other transaction, Dividend paid | 1,309,560,000.00 | 5 |
| Akzo Nobel N.V., Netherlands | Ultimate holding company | Any other transaction | 1,056,740,000.00 | 6 |
| Imperial Chemical Industries Limited | Holding company | Dividend paid | 574,440,000.00 | 1 |
| PT Akzo Nobel Car Refinishes Indonesia | Fellow subsidiary | Any other transaction, Purchase of goods or services | 264,560,000.00 | 4 |
| Akzo Nobel Paints (Singapore) Pte Ltd. | Fellow subsidiary | Any other transaction | 158,040,000.00 | 5 |
| Akzo Nobel Vietnam Limited | Fellow subsidiary | Any other transaction, Purchase of goods or services | 123,040,000.00 | 4 |
| Akzo Nobel Paints (Thailand) Limited | Fellow subsidiary | Any other transaction, Purchase of goods or services | 105,300,000.00 | 5 |
| The Alkali and Chemical Corporation of India Limited Provide | Provident fund trust | Any other transaction | 101,910,000.00 | 1 |
| Akzo Nobel Hilden GmbH | Fellow subsidiary | Any other transaction, Purchase of goods or services | 94,450,000.00 | 2 |
| Akzo Nobel Paints (Malaysia) Sdn. Bhd. | Fellow subsidiary | Any other transaction, Sale of goods or services | 93,160,000.00 | 2 |
| Akzo Nobel Car Refinishes B.V. | Fellow subsidiary | Any other transaction, Purchase of goods or services | 92,060,000.00 | 3 |
| PT ICI Paints Indonesia | Fellow subsidiary | Any other transaction, Purchase of goods or services | 85,720,000.00 | 4 |
| Akzo Nobel Packaging Coatings Limited | Fellow subsidiary | Any other transaction, Purchase of goods or services | 77,180,000.00 | 2 |
| Akzo Nobel Global Business Services LLP | Fellow subsidiary | Any other transaction | 65,480,000.00 | 3 |
| Akzo Nobel Paints Taiwan Limited | Fellow subsidiary | Any other transaction, Purchase of goods or services | 57,460,000.00 | 4 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-18 | Q1FY27 | Read the call | |
| 2026-05-21 | Q4FY26 | DULUX LIMITED | Read the call |
| 2026-02-09 | Q3FY26 | AKZONOBEL INDIA LIMITED, SECRETARY, AND COMPLIANCE OFFICER, | Read the call |
| 2025-11-12 | Q2FY26 | Read the call | |
| 2025-08-08 | Q1FY26 | NOBEL INDIA LIMITED | Read the call |
| 2025-05-20 | Q4FY25 | Read the call | |
| 2025-02-10 | Q3FY25 | Read the call | |
| 2024-11-12 | Q2FY25 | Read the call | |
| 2024-08-05 | Q1FY25 | Read the call | |
| 2024-05-21 | Q4FY24 | Read the call | |
| 2024-02-09 | Q3FY24 | AKZO NOBEL INDIA LIMITED | Read the call |
| 2023-11-09 | Q2FY24 | AKZONOBEL INDIA LIMITED | Read the call |
| 2023-08-08 | Q1FY24 | Read the call | |
| 2023-05-30 | Q4FY23 | AKZONOBEL INDIA LIMITED | Read the call |
| 2023-02-15 | Q3FY23 | AKZONOBEL LIMITED | Read the call |
| 2022-06-03 | Q4FY22 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | — | Coming back to the cash position, ballpark is roughly around 200 to 225 crores of free cash is available in the balance sheet, which is earmarked for … | OK, so secondly you know in terms of the big news these days, you know in terms of the kind of CapEx that Grasim has announced, or for the paint busin… | What's your current capacity utilization and capex plans for FY ‘24? | — | And we are not doing -- the entire capex is not on us. | And the question is any capex client and if you can give a sense on capacity utilization? |
| Capital allocation | — | — | So roughly about 25 crore a quarter is the impact that one would need to keep in mind other than the divestitures, which already have been shared with… | — | For the current year, the final dividend of INR 40 per share was proposed, which aggregates to the total dividend of INR65 per share. | — | The first is that when I just look at like-to-like, so in a sense that there has been some divestment of certain businesses, which has already been an… | JSW Dulux Limited May 14, 2026 And taking into account of the business performance, the Board has approved a final dividend of INR50 per share, the fi… |
| Costs | And we had to do that because of the sheer commodity cost inflationary pressure that hit us. | — | When you see the raw material side and when you see the heightened promotional intensity in industry and the new player has also reversed 10% extra in… | My question is on the you know those couple of data points so you had shared in the presentation about the extent of raw material inflation and the cu… | There is a softening of raw material prices, which all goes well as we move ahead. | On the cost of material consumed, as you are mentioning that the raw material prices are hardening. | These factors include, but are not limited to price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, p… | These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, … |
| Debt and cash | — | — | — | OK, regarding the cash flows as India celebrates 75th year of Independence this year, we are proud to announce a total dividend of 75 per share for th… | — | We look at productivity of a tinting machine in an outlet, so our measures are a little more stricter and more stringent than it is globally, which is… | And we are committed to deliver the superlative performance in terms of the operating working capital by churning the cash efficiently, which is also … | What we are seeing is, obviously, the larger players' ability to be able to manage this entire game given the sort of cash flows, etc., is a little be… |
| Demand | Additionally, what are your expectation of the current demand scenario and your roadmap for achieving more competitive growth? | That's -- and my second question is about the demand situation that you had in the last quarter, the quarter that just ended because we are seeing a l… | My first question is on the demand side. | We've also taken a 4.7% price increase in January and February, but you know, last two weeks of January and the first two weeks of February, the deman… | So 10% Y-o-Y growth is coming from robust demand in both the B2B and -- B2B segments and Paints and Coatings. | So therefore my question is what is your expectation for the present demand scenario? | This presentation contains statements which address such key issues like Akzo Nobel's growth strategy, future financial results, market positions, pro… | So this media release accounting statement, which address such key issues as the company's growth strategy, future financial results, market positions… |
| Guidance | Arko normally, we don't give forward-looking guidance in terms of the financial metrics. | — | Look, the guidance that I've given, my view is, as I said, as we enter the mid-market and some of it, you'd see an initial slight erosion of about a h… | Yeah, that said, you know what we saw is a bit of an hourglass where the top end and the bottom end which is you know you the premium and the economy … | In such a scenario and given this changing entry of a new player plus our parent's guidance, how should we look at margins going forward from where we… | And what kind of volume increase, sir, are we expecting for the next financial year? | — | Because when I see the P&L, the EBITDA margins are still down on a like-to-like basis, when I see Burger Paint results, there is a margin expansion, a… |
| Margin | Your operating profit margin is currently around 17%. | But again, January this year, there has been a slight margin -- price drop. | And the same thing, both in decorative and in coatings, to make sure that we get a fairly secular growth across our businesses and making sure that it… | And moving forward If there's one thing I'm proud of is that how well we managed our profitability in a volatile and inflationary environment which ch… | Coming to the full year performance, it was a stellar year for us with record performance in absolute terms across the revenue, gross margin and EBIT. | My second question is, is there any change in raw material prices that may affect your operating profit margin in part of current.. | Obviously, when our coatings vertical does better than paints, obviously, that's a slight margin shift because decorative is one of the higher margin … | We were having premiums of almost close to 7% to 9%, because our earlier parent Akzo Nobel, and we used to measure performances on EBIT percent and EB… |
| People | — | The other yardstick I look at is look at the attrition. | Q3 versus Q2. It's a combination of the attrition and then the refill rate of the company and there is no structural change per se in that Q3 versus Q… | — | So our current capacity utilization depending on the number is close to around 60%. | — | In the last 6 months, did you see any kind of an attrition numbers in your sales and marketing and ASM level people? | So to that extent, the capacity utilization that is going to talk about does not consider it. |
| Pricing | Additionally, how will product pricing will be adjusted in influence volume growth? | So I'll give you value because anyway value this year got corrected down by about 4% even despite a couple of price increases, it got negated with the… | And one of the things that we looked at was to look at our pricing across our premium brands and some of our other offerings in the market versus some… | Yeah, our challenge in this business has been the pricing so are you know pricing actions are slow because these are all time based contracts and as a… | As all of you know, that currency, besides the entire crude oil price, plays a huge role in designing our pricing. | And one of the things that we've been trying to do is to come close to the market leader on pricing. | Two, the carry forward of the pricing of last year almost negated. | We have taken some pricing corrections also in Jan and Feb on certain categories, primarily just to make sure that we were benched to competition, and… |
| Revenue growth | He is asking what was the volume growth of this quarter -- for this quarter, rather? | This sector, if you look at the Paints and Coatings business over the last few quarters, when you look at the industry growth, including the growth of… | So hence, when you look at it, we had a volume growth of 6% blended for both decorative and industrials and a revenue growth of close to 2%. | Thanks, Rajiv As you are all aware, we embarked on our Grow & Deliver journey in 2021 and I'm extremely happy with the progress we made in this ambiti… | So revenue saw 10% growth and EBIT margin growth of 32% and a PAT growth of 28%. | I just want to understand what has been the revenue growth of the projects business? | From my perspective, if you look at the last quarter, we've had industry-leading growth of 5%. | We've had a record volume growth of 23%, both on the decorative and industrial verticals. |