Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 4 Sep - ICRA assigned AA- Stable rating to JSW Dulux’s ₹250 crore ICICI Bank overdraft/WCDL facility.
Source: Bse
JSW Dulux Limited (JSWDULUX)
Small CapChemicals stocks · Small cap · NSE
JSW Dulux Limited operates in Paints, within the Chemicals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 12:33 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags20 Sept 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.1 (n=45)
Technical timing lens
Trend score and candlestick chart
48NeutralSMA20 -2.2% / mo · MACD + · sector -4.2pp vs Nifty 500 (3M)
Stock trend: 50
Sector RS: 46
Sector 3M: -9.8% vs Nifty 500 -5.6%
Chemicals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
JSWDULUXD candles · FIT view+3.8%Latest close ₹3058.60 on 2026-10-19
Bar
-1.1%
RSI
48
MACD hist
2.03
52W pos
36%
2026-10-19O ₹3094.00H ₹3128.50L ₹3026.00C ₹3058.60Vol 28,270 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
JSWDULUXNifty ChemicalsNifty 500
- JSWDULUX
- +1.8%
- Nifty 500
- -5.6%
- Nifty Chemicals
- -8.5%
- Vs Nifty 500
- +7.4 pp
Chart stats
19 Oct 2026- From 52W high
- -18.3%
- 52W range position
- 36%
- ATR (14)
- 2.7%
- Volume vs 20D
- 0.83x
- Avg traded value
- ₹10.6 Cr
- 20D price channel
- ₹2,928.9 - ₹3,268
₹3,745
₹2,667 - ₹3,745
₹83.2
Latest completed session
20-session average
25.2% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · UNDERVALUED69
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -3.0% · PAT -12.1% YoY
Technical
Neutral48
Price trend and sector-relative-strength timing.
Valuation
Legacy model+84.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -3% YoY · PAT -12% YoY · margin compression · +9% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹965 Cr | -3.0% | +9.3% |
| EBITDA | ₹115 Cr | -14.2% | -9.4% |
| Operating margin | 12.0% | -200 bps | -200 bps |
| PAT | ₹80 Cr | -12.1% | -36.5% |
| PAT margin | 8.3% | -86 bps | -598 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 35.20
- P/B
- 5.51
- EV/EBITDA
- 23.99
- Market Cap
- 13502.00Cr
Profitability
- ROE
- 19.10%
- ROCE
- 22.70%
- ROA
- 11.33%
- Dividend Y
- 1.69%
Growth (CAGR)
- Revenue 5Y
- 8.00%
- EPS 5Y
- 12.00%
- Revenue 3Y
- -2.00%
- EPS 3Y
- 2.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 40.75×
- Altman Z
- 8.49
- Book Value
- 538.00
Cash Flow
- FCF Yield
- 6.64%
- FCF Positive Y
- 12/5
- OCF
- 93.00 Cr
- EPS TTM
- 430.94
Shareholding
- Promoter Hold
- 61.20%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 29%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 4,069+2.7% vs prev
Net Profit
₹ CrLatest: 430+0.7% vs prev
Return on Equity
%Latest: 32.3+0.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 48. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~2.3% over last month) — short-term momentum negative.
- RSI(14) at 48 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 18% off 52W high · 15% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
63
RS percentile
Stage 1 Base / Transition
1M return
-4.1%
3M return
+1.8%
6M return
+3.7%
1Y return
-6.9%
RS 1D
+2
RS 20D
+16
Sector rank
#13
Industry rank
-
Stage evidence
- Price is within 0.3% of the 30-week proxy.
- The 30-week proxy changed +0.7% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 93.95+1.48%
RS vs Nifty 50094
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation22/30
Growth10/25
Quality12/20
Balance Sheet11/15
Cash Flow9/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
69
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
69/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 6.6%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 84.2%.
Main drags
- Growth is weaker at 10/25; verify the latest quarterly trend.
- Quality is weaker at 12/20; verify the latest quarterly trend.
- Valuation is weaker at 22/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
35.2
PB
5.5
EV/EBITDA
24.0
ROE
19.1%
ROCE
22.7%
FCF Yield
6.6%
Debt/Equity
0.0
MoS
+84.2%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
69
Previous: 69
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+84.2%
Previous: +84.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
69
69
69
69
69
69
69
69
69
69
69
69
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹2,283.97
-33.9% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹19,392.3
+84.2% MoS
PEG
4.40
Comparable companies
Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
INDIGOPNTS
Micro
Indigo Paints Limited
Paints & Coatings
match 130
30
30.1
13.7%
-980%
OVERVALUED
ASIANPAINT
Large
Asian Paints Limited
Paints & Coatings
match 120
45
45.9
21.8%
-186%
WATCHLIST
BERGEPAINT
Large
Berger Paints (I) Limited
Paints & Coatings
match 120
43
45.2
17.3%
-44%
WATCHLIST
CHAMBLFERT
Small
Chambal Fertilizers & Chemicals Limited
Fertilizers & Chemicals
match 87
81
8.1
20.0%
+44%
DEEP VALUE
DEEPAKFERT
Small
Deepak Fertilizers and Petrochemicals Corporation Limited
Fertilizers & Chemicals
match 86
47
17.2
10.9%
+64%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
JSW Dulux Limited operates in Paints, within the Chemicals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
76Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 81st percentile of the scored universe and 70th percentile within Chemicals. Main check: results consistency is weak at 44/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
111 docs text-extracted · 48 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Chemicals: 70th pctile, median 73 · Small: 83rd pctile, median 66
Evidence depth
Financial-only
111 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
68
acceptable · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
72
acceptable · capital discipline
Results
44
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 61.2%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 6.6%.
- ▸12 years of positive FCF.
Trust risks
- ▸Promoter holding fell 8.6%.
- ▸ROCE trend is -13%.
- ▸0/4 latest quarters had positive YoY revenue growth.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching JSW Dulux Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - Attached copy of newspaper publication pertaining to Postal Ballot Notice
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug
Source: Bse
Concall transcript
Transcript Of 72Nd AGM 16 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 11 Jul - AGM approved Deloitte Haskins & Sells LLP as statutory auditor for FY2026-27 to FY2030-31.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.