JSW Dulux Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
JSW Dulux reported Q1 FY27 revenue of Rs 965 crore, up 18.8% on a like-to-like basis, with volume growth of about 25% including price adjustment or roughly 18-19% on a price-adjusted basis. Management attributed gross margin pressure to higher-cost inventory carried into the quarter and a reclassification of promotional spend against gross revenue, while EBITDA margin of 11.9% reflected incremental headcount additions across regions and R&D. PAT of Rs 135.5 crore included two one-off items: interest income on an IT refund of about Rs 21.5 crore and dividend income of about Rs 55.9 crore from a subsidiary related to a real estate monetisation transaction.
JSW Dulux reported 23% blended volume growth across decorative and industrial paints in Q4 FY26, alongside 6.2% revenue growth, with management attributing the gap to price corrections taken in prior quarters and mix shift. EBITDA grew about 2% on a like-for-like basis while PBT declined slightly, with management citing elevated raw material inflation of 24-25% as pressuring margins. The company also completed its last real estate asset sale for INR64.8 crores and the Board approved a final dividend of INR50 per share.