Akzo Nobel India Limited has announced its Q3FY26 financial results, revealing a challenging quarter marked by competitive pressures and strategic corporate changes. The company reported revenue of ₹907.7 crore for the quarter ended December 31, 2025, representing a decline of 1% compared to the previous year.

Financial Performance Overview

The company's financial metrics for Q3FY26 demonstrate resilience despite topline pressures. While overall revenue declined, domestic volumes showed positive momentum with a growth of 6.6%, leading to domestic revenue growth of 1.8%.

The company maintained its EBITDA margin at 14.9%, demonstrating operational efficiency despite market challenges. Profit after tax, excluding exceptional items, improved by 6% to ₹94.6 crore.

Corporate Restructuring and Leadership Changes

Significant corporate developments marked the quarter with JSW Paints completing its acquisition to become the promoter and holding company. JSW Paints now holds 61.2% of the paid-up equity share capital, having acquired 60.76% shareholding in the company.

The leadership restructuring includes several key appointments subject to shareholder approval:

The Board has also approved a proposed name change to "JSW Dulux Limited," pending shareholder approval.

Business Segment Performance

Decorative Paints Division

The decorative paints vertical faced mixed demand conditions amid competitive pressure. Premium segment products grew 4%, supported by new launches in the exteriors category. The waterproofing segment achieved notable growth of 17%, while retail operations expanded across geographies.

Coatings Verticals

The coatings business showed varied performance across segments:

• Marine & Protective Coatings: Growth recorded in Power, Oil & Gas, and Mining businesses within the Protective segment, with recovery in the Marine docking business
• Automotive & Specialty Coatings: Premium segment growth driven by Bodyshop wins and improved product mix, with strong performance in Auto OEM segment
• Industrial Coatings: Strong order intake in Coil and ACP businesses supported by conducive demand conditions

Product Innovation and Market Expansion

The company launched several new products during the quarter, strengthening its market position. Dulux Weathershield Metallics was introduced with over 80 metallic shades backed by a 10-year warranty. The company also expanded into flooring applications with Dulux Weathershield Floor Plus, offering over 800 color options with a 2-year warranty. Additionally, the Dulux Weathershield Textures portfolio was expanded with three new designer finishes.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company reported revenue of ₹2,737.7 crore, down 2% from the previous year. EBITDA for the period stood at ₹380.7 crore with a margin of 13.9%. The period included exceptional items of ₹1,874 crore related to the sale of Powder and International Research Centre business.

Strategic Outlook

Chairman Parth Jindal emphasized the company's strategic positioning, stating the ambition to move from the fourth-largest player in India's paint space into the top three and subsequently the top two positions. The company remains focused on driving market share gains across all business segments while continuing innovation efforts to establish Dulux as a best-in-class brand.

The management maintains its commitment to shareholder value creation while embedding ESG principles in operational practices and pursuing sustainability ambitions. The company is redeploying royalty savings toward growth initiatives and revenue development activities.

Source:

Akzo Nobel India Limited's Board of Directors has approved a comprehensive transformation plan that includes changing the company's name to JSW Dulux Limited and restructuring its leadership team. The decisions were made during a board meeting held on January 28, 2026, and will require shareholder approval through a postal ballot process.

Name Change and Corporate Restructuring

The board has approved the proposal to change the company's name from Akzo Nobel India Limited to JSW Dulux Limited. This change is contingent upon receiving approval for name availability from the Ministry of Corporate Affairs, followed by shareholder approval and final clearance from the Central Government/Ministry of Corporate Affairs under the Companies Act, 2013.

As part of this transformation, the board also approved consequent alterations to the relevant clauses of the company's Memorandum of Association and Articles of Association to reflect the name change.

Leadership Appointments and Changes

The board has approved several key leadership appointments that will reshape the company's management structure:

Notably, Rajiv Rajgopal's role will transition from Chairman and Managing Director to Joint Managing Director & Chief Executive Officer, representing a significant restructuring of executive responsibilities.

Shareholder Approval Process

All proposed changes will be presented to shareholders through a postal ballot process utilizing remote e-voting exclusively. The company will seek approval for four special business items:

• Appointment of Parth Sajjan Jindal as Chairman
• Appointment of Shantanu Maharaj Khosla as Independent Director
• Designation change for Rajiv Rajgopal
• Company name change and associated corporate document amendments

The Notice of Postal Ballot, along with explanatory statements and details regarding the remote e-voting process, will be submitted in due course.

Meeting Details

The board meeting commenced at 4:30 P.M. and concluded at 5:00 P.M. on January 28, 2026. The disclosure has been simultaneously uploaded on the company's website at www.akzonobel.co.in , ensuring transparency and compliance with regulatory requirements under the SEBI Listing Regulations.