JSW Dulux Peer Comparison

NSE: AKZOINDIA | BSE: 500710

₹275.30

₹11.60 (4.40%)

As on 05-Nov-2026IST

Market cap

₹12,537 Cr

Revenue (TTM)

₹3,718 Cr

P/E Ratio

35.7

P/B Ratio

5.4

Div. Yield

7.5 %

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	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Market cap (₹ Cr)	12,537	16,525	4,299	650	142
Revenue (₹ Cr)	3,718	8,627	1,513	541	243
Net Profit (₹ Cr)	351.10	599.34	151.39	-87.85	-7.63
Net Margin (%)	9.17	6.82	9.90	-16.15	-3.13
RoE (%)	15.58	9.68	13.14	-36.93	-4.34
Price to Earnings	35.71	27.02	28.83	--	--
Price-To-Book	5.40	2.40	3.63	7.14	0.78

Income Statement (₹ Cr)

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Operating Revenue	3,717.90	8,626.67	1,427.29	540.65	242.63
Total Income	3,827.70	8,781.61	1,442.89	543.96	243.50
Total Expenditure	3,228.50	7,618.02	1,177.71	584.30	241.09
EBITDA	489.40	1,008.65	249.58	-43.65	1.54
Depreciation	79.20	246.87	56.78	20.45	6.68
EBIT	410.20	761.78	192.81	-64.10	-5.15
Interest	14.20	32.98	2.43	22.90	4.12
Other Income	109.80	154.94	15.60	3.31	0.87
Exceptional Items	-28.30	-63.15	-5.85	-4.60	0.00
Profit before Tax	477.50	820.59	200.12	-88.29	-8.40
Provision for Tax	126.40	221.25	50.45	-0.44	-0.77
Profit after Tax	351.10	599.34	149.67	-87.85	-7.63

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Shareholder's Funds	2,323.40	6,888.08	1,217.24	199.73	172.90
Minority Interest	0.00	12.23	0.00	0.00	0.00
Non-Current Liabilities	226.70	352.01	49.29	26.46	21.46
Current Liabilities	1,320.80	1,994.55	330.26	403.85	106.80
Total Liabilities	5,600.50	8,711.11	--	642.62	286.64

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Non-Current Assets	1,566.50	2,328.71	750.78	195.11	50.31
Current Assets	1,897.50	6,260.80	769.82	292.37	239.23
Total Assets	5,600.50	8,711.11	--	642.62	286.64
Total Debt*	0.00	82.68	--	157.03	26.89
Net Current Assets	576.70	4,266.25	439.56	-111.48	132.44
Contingent Liabilities	53.70	44.79	--	39.17	2.03

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Cash From Operating Activities	93.20	894.37	--	23.35	10.92
Cash Flow from Investing Activities	803.70	-382.65	--	-0.52	-8.98
Cash from Financing Activities	-875.40	-403.30	--	-24.71	11.66
Net Cash Inflow / Outflow	21.50	108.42	--	-1.88	13.60

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
ROCE (%)	125.82	12.44	--	-12.18	2.30
ROE (%)	15.58	9.68	12.83	-36.93	-4.34
ROA (%)	9.34	6.83	9.92	-13.33	-2.63
EBIT Margin (%)	11.03	8.83	13.51	-11.86	-2.12
Net Margin (%)	9.17	6.82	10.37	-16.15	-3.13
Cash Profit Margin (%)	0.00	0.00	0.00	0.00	0.00

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Revenue Growth (%)	-4.32	9.83	10.81	-12.11	-8.04
EBIT Growth (%)	-16.18	7.75	7.63	-16.61	-147.06
Net Profit Growth (%)	-82.36	-46.18	3.04	-34.27	-232.51
EPS Growth (%)	-21.42	3.29	5.93	-27.24	-225.85
Book Value Growth (%)	84.38	4.53	--	-30.80	6.26

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Price / Earnings	4.08	25.10	27.89	-7.81	-17.96
Price / Book Value	5.40	2.40	3.53	7.14	0.78
Dividend Yield (%)	7.48	1.22	0.56	0.00	0.00
EV/EBITDA	24.96	13.90	15.90	-17.41	97.37
Market Cap (₹ Cr)	12,925.09	13,509.49	--	302.15	120.74

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Debt to Equity	0.00	0.00	0.00	0.08	0.04
Short term debt to equity ratio	--	0.01	--	0.62	0.13
Current Ratio	1.44	3.14	2.33	0.72	2.24
Quick Ratio	0.82	2.18	1.70	0.44	1.46
Interest Coverage	34.63	25.88	83.29	-2.86	-1.04

	JSW Dulux	Kansai Nerolac	Indigo Paints	Shalimar Paints	Kamdhenu Ventures
Debtors to sales (%)	18.01	22.14	16.73	22.55	60.10
Asset Turnover	0.99	0.98	0.95	0.82	0.84
Receivable days	60.23	57.19	--	79.33	198.77
Inventory Days	59.62	64.70	--	65.67	85.97
Payable days	144.42	79.48	--	173.97	167.67
Cash Conversion Cycle	-24.57	42.40	--	-28.96	117.08

*TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.