JSW Dulux Limited has successfully resolved a GST litigation matter with the Madhya Pradesh GST Department, receiving a favorable order that annuls the original demand notice. The company informed stock exchanges about this positive development on March 17, 2026, under regulatory disclosure requirements.

GST Litigation Background

The litigation stemmed from a show cause notice received by JSW Dulux Limited on September 24, 2025, from the Madhya Pradesh GST Department. The notice pertained to the period from April 2019 to March 2020 and alleged violations related to the issuance of multiple E-Way Bills for the same invoice under Section 74 of the CGST/SGST Act, 2017.

Company Response and Resolution

JSW Dulux Limited submitted its comprehensive response along with supporting documents within the stipulated time limit. The company's proactive approach in addressing the GST department's concerns proved effective in resolving the matter favorably.

The Assistant Commissioner of GST and Central Excise, Division-1, Gwalior, reviewed the company's response and issued an order dated March 9, 2026. The company received this order on March 16, 2026, at 2:00 PM, marking a significant positive development in the litigation proceedings.

Final Order Details

The final order issued by the Madhya Pradesh GST Department brought complete relief to JSW Dulux Limited. The demand amount specified in the order stands at nil, effectively clearing the company of the original Rs. 21,03,822 demand that included tax, applicable interest, and penalties.

Regulatory Compliance and Disclosure

JSW Dulux Limited maintained transparency throughout the litigation process by adhering to SEBI disclosure requirements. The company initially disclosed the litigation proceedings on September 25, 2025, and provided this update under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The favorable resolution eliminates any financial impact from this GST matter and demonstrates the company's effective legal and compliance management. With the original demand notice now annulled, JSW Dulux Limited can proceed without any outstanding liability related to this particular GST investigation.

JSW Dulux Limited has announced an investor presentation scheduled for March 16, 2026, in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The presentation has been made available on the company's website and will provide insights into the company's strategic direction and market positioning.

Market Position and Operations

JSW Dulux Limited , formerly Akzo Nobel India Limited, has established itself as a significant player in India's paints industry. The company's current market positioning demonstrates strong presence across multiple segments.

The company operates with approximately 1,300 full-time employees across a comprehensive infrastructure network. Its operational footprint includes 5 factories, 1 R&D lab, 1 technical development centre, and 4 office locations, providing a total capacity of 285 million litres per annum for FY2025.

Geographic Footprint and Distribution

JSW Dulux maintains a pan-India presence with manufacturing facilities strategically located across key regions. The company's distribution network covers more than 5,000 towns across India, serving approximately 22,000 decorative paints retailers.

Strategic Vision and Ambitions

The company has outlined its ambition to become the preferred brand choice for consumers, customers, and employees. This goal will be driven through innovation, superior quality, and customer service while focusing on market share gains and EBITDA growth.

Key strategic initiatives include:

• Geographic Expansion: Targeting 6,000 towns by next year
• Product Range Expansion: Developing innovative offerings fit-for-market
• Royalty Savings Reinvestment: Increased painter engagement and brand initiatives
• Operational Synergies: Unlocking scale of operations and value engineering

Business Segment Strategies

Decorative Paints Division

The decorative paints segment operates under the vision of becoming a leading performer preferred by consumers and customers, known for best-in-class quality and continuous innovation. The division focuses on five key areas:

• Strengthening Dulux brand equity and premium positioning
• Driving innovation in premium and adjacent segments
• Executing meaningful distribution expansion
• Strengthening capabilities in large-format projects and institutional sales
• Building organizational capability and performance culture

Industrial Paints Division

The industrial paints division aims to be the preferred brand with best-in-class quality, focusing on three main segments: Automotive Service Coatings (ASC), Marine and Protective Coatings (MPC), and Industrial Coil and Others (ICO). Each segment has specific growth strategies targeting market leadership and business expansion.

Corporate Developments

Significant corporate changes have been implemented following the acquisition completion. JSW Paints currently holds 61.2% of the paid-up equity share capital. Key leadership changes include the appointment of Mr. Parth Sajjan Jindal as Non-Executive Director and Chairman, Mr. Shantanu Maharaj Khosla as Independent Director, and the re-designation of Mr. Rajiv Rajgopal as Joint Managing Director and Chief Executive Officer.

The company has successfully transitioned from Akzo Nobel India Limited to JSW Dulux Limited, with approvals received from the Board, shareholders, and the Ministry of Corporate Affairs. Despite the new identity and aggressive growth focus, the company emphasizes continuity in maintaining best-in-class brands including Dulux, International, and Sikkens, along with its commitment to innovation, product quality, shareholder value creation, and governance standards.