JSW Dulux Limited has recommended a final dividend of ₹50 per equity share for the financial year ended March 31, 2026, pending shareholder approval at its upcoming 72nd Annual General Meeting (AGM). The dividend, applicable to shares with a face value of ₹10 each, will be paid on or before August 8, 2026, to shareholders whose names appear in the records as of the close of business hours on July 3, 2026.

The AGM is scheduled to be held through video conference and other audio-visual means on July 10, 2026, at 2:00 p.m. IST. The meeting will be conducted in compliance with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with relevant circulars issued by the Ministry of Corporate Affairs and SEBI.

Key Meeting Details

The Board of Directors approved the dividend recommendation at its meeting held on May 13, 2026. The company stated that dividend payments would be made via electronic transfer modes to shareholders with updated bank details. For those holding shares in electronic mode without updated bank information, physical dividend warrants or demand drafts will be dispatched via post.

Compliance and Regulatory References

The company has aligned the AGM proceedings with multiple SEBI and MCA circulars issued between 2020 and 2025. These include regulations concerning remote e-voting facilities and the conduct of meetings via video conference. Electronic copies of the AGM notice and the Annual Report for FY26 will be sent to shareholders with registered email addresses, while others will receive a letter containing a weblink and QR Code to access the documents.

Shareholders have been advised to ensure their PAN, residential status, and bank details are updated to facilitate tax deduction at source (TDS) and dividend payments. The company emphasized that dividend income is taxable in the hands of shareholders under the Income-tax Act, 1961.

JSW Dulux Limited reported a 23% volume growth in Q4 FY26 across decorative and industrial verticals, while revenue grew by 6.2% due to price corrections. Following the announcement, the company clarified an inadvertent interchange between account heads pertaining to previous year FY 2024-25 comparable numbers in the Statement of Assets and Liabilities. The disclosure was made to BSE Limited and the National Stock Exchange of India Ltd on 25 May 2026.

Financial Performance

The company recorded record volume growth, though EBITDA grew approximately 2% on a like-for-like basis to around 14.4%. Profit before tax (PBT) and profit after tax (PAT) declined slightly due to elevated raw material costs between 24% and 25%. The Board of Directors has approved a final dividend of INR50 per share for the financial year 2025-26, subject to shareholder approval.

Accounting Clarification

Price Waterhouse Chartered Accountants LLP, Statutory Auditors of the company, identified that corresponding figures as at 31 March 2025 in the Standalone and Consolidated Statements of Assets and Liabilities were inadvertently interchanged between specific account heads. The auditors confirmed that there is no change in the 'Total non-current liabilities' and 'Total current liabilities' as at 31 March 2025, and their audit opinion dated 13 May 2026 remains unchanged.

• NA - Not applicable as there is no difference observed.

Operational Highlights

Management attributed the gap between volume and revenue growth to price and mix adjustments, with premiums reduced by 7% to 9% in certain categories. The industrial segment secured marquee projects, including the Navi Mumbai Airport. The company also completed the sale of real estate assets in March 2026, generating an income of INR64.8 crores. Integration efforts with JSW Group are ongoing, with back-end functions such as HR already integrated.