Paints company JSW Dulux announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations for Q4FY26 stood at Rs 8,833 million, a decrease of 12.92% YoY compared to Rs 10,144 million in Q4FY25 and a decrease of 1.24% QoQ from Rs 8,944 million in Q3FY26. Total Income for the quarter was Rs 9,504 million, reflecting a YoY decrease of 6.57% from Rs 10,172 million and a QoQ increase of 4.54% from Rs 9,091 million. Profit before tax for Q4FY26 reached Rs 1,697 million, registering a growth of 23.33% YoY from Rs 1,376 million and an increase of 67.52% QoQ from Rs 1,013 million. Net Profit for the quarter was Rs 1,257 million, representing a growth of 15.96% YoY compared to Rs 1,084 million and an increase of 69.18% QoQ from Rs 743 million. For FY26, Revenue from Operations was Rs 35,992 million, a decline of 11.55% compared to Rs 40,693 million in FY25. Annual Consolidated Profit before tax for FY26 stood at Rs 23,655 million, a significant increase compared to Rs 5,699 million in FY25, primarily driven by exceptional items. Annual Net Profit for FY26 reached Rs 19,738 million, showing a substantial growth of 359.56% over Rs 4,295 million in FY25. Earnings per equity share (Basic and Diluted) for Q4FY26 was Rs 27.60, up from Rs 23.80 in Q4FY25. For the full year FY26, Basic and Diluted EPS stood at Rs 433.42. Standalone Financial Highlights: Revenue from Operations for Q4FY26 was Rs 8,833 million, showing a YoY decrease of 12.92% from Rs 10,144 million and a QoQ decrease of 1.24% from Rs 8,944 million. Total Income for the quarter stood at Rs 8,852 million, compared to Rs 10,172 million in Q4FY25 and Rs 9,091 million in Q3FY26. Profit before tax for Q4FY26 was Rs 1,043 million, reflecting a decrease of 24.09% YoY from Rs 1,374 million but an increase of 3.27% QoQ from Rs 1,010 million. Net Profit for the quarter reached Rs 699 million, showing a YoY decline of 34.98% from Rs 1,075 million and a QoQ decline of 5.67% from Rs 741 million. For the full year FY26, Standalone Revenue from Operations was Rs 35,992 million compared to Rs 40,693 million in FY25. Annual Standalone Net Profit for FY26 reached Rs 19,177 million, growing significantly from Rs 4,286 million in FY25. Business Highlights: Segment Performance: The company is principally engaged in the business of manufacturing paints, coatings, and allied products. There are no reportable segments other than "Paints". Change in Promoter and Control: On December 10, 2025, JSW Paints Limited (JSW) acquired 60.76% shares of the company. JSW now holds 61.2% of the paid-up equity share capital and is classified as the promoter. Exceptional Items (Consolidated): For the year ended March 31, 2026, the company recognized exceptional items totaling Rs 18,459 million. This includes a profit of Rs 18,925 million from the slump sale of the Powder Coatings division and the International Research Center division, partly offset by an impairment provision for property, plant, and equipment (Rs 79 million) and the impact of new Labour Codes (Rs 317 million). Divestment: The Standalone and Consolidated results for Q4FY26 and FY26 are not directly comparable with previous periods due to the slump sale of the Powder Coatings business and the International Research Center division during the quarter ended September 30, 2025. Subsidiary Real Estate Sale: During Q4FY26, a subsidiary completed the sale of its immovable property at Vashi, Navi Mumbai, resulting in a gain of Rs 648 million, which was reported under "Net gain on sale of immovable properties" in the consolidated results. Volume Growth: The company recorded a 23% volume growth in Q4FY26 in its retained business. Product Innovations: New customer-centric innovations were launched, including the uber-luxury interior wall finish "Dulux Velvet Touch Luxury Finishes" and the mass-segment water-based "Dulux Promise 2-in-1 Primer". Dividend: The Board of Directors recommended a final dividend of Rs 50/- per equity share for FY26. Including a special interim dividend of Rs 156/- paid during the year, the total dividend for FY26 amounts to Rs 206/- per share Parth Jindal, Chairman, JSW Dulux, said: “On behalf of the Board of JSW Dulux Limited, I welcome our valued shareholders to the JSW family. Committed to enhance value for its shareholders, the Board has proposed a final dividend of Rs 50/- per share, subject to shareholders’ approval. This, together with the special dividend of Rs 156/- per share, takes the recommended total dividend for the FY26 to Rs 206/- per share.” Rajiv Rajgopal, Joint Managing Director and CEO, JSW Dulux, said: “In Q4FY26, overall demand conditions improved and the market saw a demand uptick across verticals. In March 2026, given the geopolitical situation, raw material prices increased sharply. Subsequently, calibrated price increases were taken in our business verticals. We delivered a strong finish to the year with robust 23% volume growth and 6.2% revenue growth in our retained business. In Industrial Paints, we achieved double-digit growth. In Decorative Paints, we corrected price premiums in core brands in Q3 and Q4FY26 which led to strong rebound in volume growth. While continuing to redeploy royalty savings from Decorative Paints towards marketing and promotions, we sustained our double-digit profitability. Overall, FY26 was a year of transformation. Our becoming JSW Dulux Limited in the quarter gone by is our pivot towards accelerated growth and market share gains. Stepping into FY27, we remain attentive to evolving geopolitical developments and are taking further pricing actions to mitigate the impact of raw material cost pressures and forex volatility across business verticals. More importantly, we are focused on accelerating market share gains and enhancing profitability through innovation, superior quality, stronger customer engagement, and the realization of synergies at scale.” Result PDF