JSW Dulux Ltd

JSW Dulux Ltd

₹ 3,168 -0.61%
12 Jun - close price
About

Incorporated in 1954, Akzo Noble India Ltd is
in the business of manufacturing, trading, and selling paints and related products. It also provides research and development services
to its Holding Company and other group companies[1]

Key Points

Business Overview:[1]
ANL is a part of the Akzo Nobel group, the world's largest coating company. It supplies essential protection and essential color to industries and consumers.

  • Market Cap 14,429 Cr.
  • Current Price 3,168
  • High / Low 3,916 / 2,649
  • Stock P/E 7.52
  • Book Value 526
  • Dividend Yield 1.58 %
  • ROCE 120 %
  • ROE 103 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 55.7% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 61.5%
  • Company has been maintaining a healthy dividend payout of 78.3%

Cons

  • The company has delivered a poor sales growth of 8.25% over past five years.
  • Earnings include an other income of Rs.1,880 Cr.
  • Promoter holding has decreased over last 3 years: -13.6%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
951 999 956 1,033 973 1,036 982 1,050 1,014 995 835 894 883
797 837 814 866 812 867 836 884 855 861 724 759 756
Operating Profit 155 162 142 166 162 169 146 167 159 134 111 136 127
OPM % 16% 16% 15% 16% 17% 16% 15% 16% 16% 14% 13% 15% 14%
6 8 9 8 10 10 9 6 3 9 1,882 -13 2
Interest 6 3 3 3 3 2 2 3 2 3 2 3 4
Depreciation 22 19 21 20 22 22 22 23 22 18 18 19 20
Profit before tax 133 148 127 152 147 154 132 146 137 122 1,972 101 104
Tax % 28% 26% 26% 25% 26% 26% 26% 26% 22% 26% 15% 27% 33%
95 110 94 114 109 115 98 109 108 91 1,683 74 70
EPS in Rs 20.95 24.13 20.68 24.99 23.89 25.16 21.50 23.85 23.61 19.98 369.50 16.27 15.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,442 2,640 2,572 2,719 2,918 2,662 2,421 3,149 3,802 3,962 4,091 3,599
2,181 2,380 2,244 2,420 2,576 2,291 2,078 2,714 3,276 3,328 3,449 3,092
Operating Profit 261 260 329 300 342 370 343 434 526 633 642 508
OPM % 11% 10% 13% 11% 12% 14% 14% 14% 14% 16% 16% 14%
68 110 65 240 43 41 21 23 26 35 27 1,880
Interest 2 2 3 4 4 9 10 14 14 12 10 12
Depreciation 53 54 54 58 65 79 76 76 82 82 89 75
Profit before tax 275 314 337 478 316 323 278 367 456 573 570 2,300
Tax % 32% 32% 27% 16% 33% 27% 25% 21% 26% 26% 25% 17%
186 214 247 401 211 237 208 290 335 427 429 1,918
EPS in Rs 39.93 45.91 52.94 85.85 46.33 52.13 45.59 63.68 73.58 93.70 94.11 421.10
Dividend Payout % 50% 153% 42% 26% 52% 27% 110% 118% 88% 80% 106% 49%
Compounded Sales Growth
10 Years: 3%
5 Years: 8%
3 Years: -2%
TTM: -12%
Compounded Profit Growth
10 Years: 26%
5 Years: 56%
3 Years: 79%
TTM: 348%
Stock Price CAGR
10 Years: 8%
5 Years: 7%
3 Years: 9%
1 Year: -2%
Return on Equity
10 Years: 36%
5 Years: 48%
3 Years: 61%
Last Year: 103%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 47 47 47 47 46 46 46 46 46 46 46 46
Reserves 873 1,116 962 1,244 1,090 1,192 1,242 1,213 1,270 1,284 1,283 2,349
0 3 3 3 3 64 64 70 70 60 62 79
879 878 872 938 959 1,024 1,178 1,261 1,354 1,513 1,511 1,255
Total Liabilities 1,799 2,043 1,884 2,231 2,097 2,325 2,529 2,590 2,739 2,903 2,902 3,728
516 523 519 539 530 574 543 520 511 526 481 1,613
CWIP 12 9 23 27 17 16 16 42 73 119 67 49
Investments 394 600 336 573 377 84 0 0 0 0 0 0
876 911 1,006 1,092 1,173 1,652 1,969 2,029 2,156 2,258 2,354 2,066
Total Assets 1,799 2,043 1,884 2,231 2,097 2,325 2,529 2,590 2,739 2,903 2,902 3,728

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
155 263 143 181 141 375 283 121 486 486 311 84
239 -156 225 -6 185 4 -225 230 -15 -87 123 748
-410 -113 -392 -126 -360 -157 -174 -346 -302 -439 -460 -875
Net Cash Flow -16 -6 -24 50 -34 222 -116 6 170 -41 -26 -44
Free Cash Flow 107 234 68 78 99 327 255 58 382 367 204 -1,100
CFO/OP 87% 145% 78% 119% 77% 131% 106% 54% 119% 104% 74% 31%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 42 49 58 53 56 54 62 57 53 53 52 61
Inventory Days 95 89 107 84 85 107 135 129 95 100 95 99
Days Payable 119 145 164 159 131 171 220 164 138 164 151 130
Cash Conversion Cycle 17 -7 1 -22 9 -10 -23 22 11 -10 -3 30
Working Capital Days -12 -59 15 10 20 -3 -14 14 4 -2 22 33
ROCE % 25% 26% 27% 40% 24% 27% 22% 28% 35% 42% 42% 120%

Insights

In beta
Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Gross Investment in Tinting/Color Solution Machines (Leased)
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Number of Active Dealers/Distributors
Number
Renewable Energy Share in Manufacturing
%
Town Presence Reach
Number
Installed Solar Capacity
KWA

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
74.76% 74.76% 74.76% 74.76% 74.76% 74.76% 74.76% 74.76% 74.76% 69.76% 61.20% 61.20%
3.15% 3.14% 3.20% 3.42% 3.63% 3.75% 3.84% 3.68% 3.70% 7.97% 8.66% 8.43%
8.75% 8.61% 8.56% 8.36% 8.28% 8.11% 8.05% 8.49% 8.56% 13.77% 20.58% 21.79%
13.34% 13.49% 13.49% 13.47% 13.33% 13.39% 13.35% 13.08% 12.98% 8.50% 9.56% 8.58%
No. of Shareholders 45,23146,65747,32246,71246,66245,90648,26648,14048,92248,22650,31448,493

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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