JSW Dulux Q4 Profit Falls 35% To ₹69.9 Crore, Revenue Declines 12.9%

Mumbai: JSW Dulux Limited, formerly known as Akzo Nobel India Ltd., reported a 35% year-on-year decline in standalone net profit to ₹69.9 crore for the fourth quarter ended March 31, 2026, compared with ₹107.5 crore in the corresponding quarter last year. Revenue from operations fell 12.9% to ₹883.3 crore from ₹1,014.4 crore a year ago. Sequentially, revenue slipped from ₹894.4 crore in Q3 FY26, while net profit also moderated from ₹74.1 crore in the preceding quarter, reflecting softer quarterly earnings despite operational resilience.

The company’s total income for the quarter stood at ₹885.2 crore against ₹1,017.2 crore in Q4 FY25, while total expenses declined to ₹780.9 crore from ₹879.8 crore in the year-ago period. Profit before tax came in at ₹104.3 crore, lower than ₹137.4 crore reported last year but marginally higher than ₹101 crore recorded in Q3 FY26. Earnings per share for the quarter stood at ₹15.35 compared with ₹23.60 in the corresponding quarter last year.

For the full financial year FY26, standalone revenue from operations declined 11.6% to ₹3,599.2 crore from ₹4,069.3 crore in FY25. However, net profit surged to ₹1,917.7 crore from ₹428.6 crore in the previous year, primarily due to exceptional gains amounting to ₹1,846.3 crore arising from the slump sale of the Powder Coatings division and International Research Center division.

The company said the exceptional items included ₹1,892.5 crore profit from the slump sale, partly offset by impairment provisions, labour code-related costs and retention incentives. The financial results were also impacted by the implementation of new Labour Codes, for which the company recognised a financial impact of ₹31.6 crore during FY26.

JSW Dulux’s board recommended a final dividend of ₹50 per equity share for FY26. Including the previously announced special interim dividend of ₹156 per share, the total dividend payout for FY26 would amount to ₹206 per share, subject to shareholder approval.

The company also noted that FY26 figures are not strictly comparable with previous periods following the sale of the Powder Coatings business and International Research Center division during the September 2025 quarter.