5007102026-01-012026-03-315007102026-03-315007102025-03-315007102025-04-012026-03-315007102026-01-012026-03-31in-capmkt:OtherExpenses1Member5007102025-04-012026-03-31in-capmkt:OtherExpenses1Member5007102026-03-31OtherNoncurrentFinancialAssetsDomain15007102026-03-31OtherNoncurrentAssetsDomain15007102026-03-31OtherCurrentFinancialAssetsDomain15007102026-03-31OtherCurrentAssetsDomain15007102026-03-31OtherNoncurrentFinancialLiabilitiesDomain15007102026-03-31OtherNoncurrentLiabilitiesDomain15007102026-03-31OtherCurrentFinancialLiabilitiesDomain15007102026-03-31OtherCurrentFinancialLiabilitiesDomain25007102026-03-31OtherCurrentLiabilitiesDomain15007102026-01-012026-03-31in-capmkt:ReportableSegments1Member5007102025-04-012026-03-31in-capmkt:ReportableSegments1Member5007102026-01-012026-03-31in-capmkt:ReportableSegments1Member5007102025-04-012026-03-31in-capmkt:ReportableSegments1Member5007102026-01-012026-03-31in-capmkt:ReportableSegments1Member5007102026-03-31in-capmkt:ReportableSegments1Member5007102026-01-012026-03-31in-capmkt:ReportableSegments1Member5007102026-03-31in-capmkt:ReportableSegments1Member5007102026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15007102025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15007102026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares500710JSWDULUXNOTLISTEDINE133A01011JSW Dulux LimitedMain BoardEquity2025-04-012026-03-312026-05-132026-04-30INRMillionsQuarterlyFourth quarterGeographical2026-05-1315:30:002026-05-1320:00:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31UnauditedConsolidated883274000067149000095042300004711730000397210000139080000750060000430200002006500001565470000780722000016970100000169701000022819000021176000043995000001257060000000012570600001410000012711600004554000001027.627.60027.627.6Notes to the Statement of Consolidated Financial Results for the quarter and year ended 31 March 2026 <BR> <BR> <BR> 1. The Statement of Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 13 May 2026. <BR> <BR> 2. The figures for the quarter ended 31 March 2026 and 31 March 2025 are the balancing figures between the audited consolidated figures in respect of the full financial year and the published consolidated year to date figures upto the third quarter of the respective financial years which have neither been subjected to limited review nor audited by our statutory auditors. <BR> <BR> 3. The Consolidated Financial Results include the results of the following entities namely, JSW Dulux Limited (formerly known as Akzo Nobel India Limited) (Holding Company) and ICI India Research and Technology Centre Private Limited (Formerly known as ICI India Research and Technology Centre) (Subsidiary), hereinafter referred to as the Group. <BR> <BR> 4. The Group is principally engaged in the business of manufacturing paints, coatings and allied products in India with similar risk, returns and internal business reporting system. Accordingly, there are no reportable segment(s) other than "Paints", which singly or in aggregate qualify for separate disclosure as per provisions of the relevant Ind AS 108 "Operating segments”. <BR> <BR> 5. During the quarter ended 31 March 2026, the Subsidiary completed the sale of its immovable property situated at Vashi, Navi Mumbai, Maharashtra. The resultant gain arising from the said sale amounting to Rs. 648 mn has been reported under “Net gain on sale of immovable properties” in the Statement of Consolidated Financial Results for the quarter and year ended 31 March 2026. <BR> <BR> 6. During the year ended 31 March 2026, the Group recognised exceptional items amounting to Rs. 18,459 mn. The details of the same are as follows: <BR> <BR> Particulars For the year ended <BR> 31 March 2026 <BR> Profit from the slump sale of the Powder Coatings division and the International Research Center division (net of directly attributable expenses) 18,925 <BR> Impairment provision for property, plant and equipment rendered unusable pursuant to the slump sale (at net book value) (79) <BR> Impact of new Labour Codes* (317) <BR> Retention Incentive (141) <BR> Reimbursement towards additional costs incurred on the carve out due to the slump sale 71 <BR> Total 18,459 <BR> <BR> * The Government of India has notified the Code on Social Security, 2020; the Occupational Safety, Health and Working Conditions Code, 2020; the Industrial Relations Code, 2020 and the Code on Wages, 2019 (collectively, the "Labour Codes") on November 21, 2025. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to Labour Codes. The Group has evaluated the impact of increased employee benefits obligations arising from the implementation of the Labour Codes based on its best judgment in consultation with external experts. Accordingly, the Group has recognised a financial impact of Rs. 317 mn in accordance with Ind AS 19 - 'Employee Benefits' and disclosed it as an Exceptional Item in the financial results for the year ended 31 March 2026. <BR> <BR> The Group will continue to monitor the developments, and will record any additional accounting impact, as required. <BR> <BR> <BR> <BR> <BR> <BR> <BR> <BR> <BR> <BR> 7. On 10 December 2025, JSW Paints Limited (JSW) acquired 60.76% shares of the Holding Company under Share Purchase Agreement entered with Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V. Pursuant to the acquisition, JSW holds 61.2% of the paid-up equity share capital of the Holding Company and is now classified as the promoter of the Holding Company. Imperial Chemical Industries Limited, Akzo Nobel Coatings International B.V. and Akzo Nobel N.V. have ceased to be part of the promoter / promoter group of the Holding Company with effect from 10 December 2025. <BR> <BR> 8. The Consolidated Financial Results for the quarter and year ended 31 March 2026 are not comparable with the corresponding previous periods due to the slump sale of the Powder Coatings business division and the International Research Center division during the quarter ended 30 September 2025. <BR> <BR> 9. The Board of Directors of the Holding Company has recommended a final dividend of Rs. 50/- (Rupees fifty only) per fully paid-up equity share of Rs. 10/- each for the financial year 2025-26. The dividend will be paid subject to approval by the shareholders at the forthcoming Annual General Meeting (AGM) of the Holding Company. The Group also paid a special interim dividend of Rs. 156/- (Rupees one hundred and fifty six only) per equity share during the financial year 2025-26, and once the aforesaid final dividend is approved at the forthcoming AGM, the total dividend amount for financial year 2025-26 would be Rs. 206/- per share (previous year Rs. 100 per share). <BR> <BR> <BR> <BR> <BR> <BR> Mumbai Rajiv Rajgopal <BR> <BR> 13 May 2026 Jt. Managing Director & CEO <BR> <BR> 2025-04-012026-03-31AuditedConsolidated359920000009848700003697687000018682000000183426000057200000031300900001211800007525700006689000000317811000005195770000184590000002365477000033134200006037100003917130000019737640000000019737640000-54390000196832500004554000001024049000000433.42433.4200433.42433.42Other Expenses1565470000Other Expenses668900000046053000004860800000115277100000157000011363000011520000022784400001069000000200817300005711000000060291100002698000000539000000205000012543000093935900002766890000178714800003795321000045540000024061000000245164000002451640000006311700006311700001041000000271130000620000002005300000041751000071470000007564510000110300000086675100002497000000267000000114315100001343681000037953210000Other financial assets113630000Other non-current assets1069000000Other financial assets125430000Other current assets2766890000Lease liabilities631170000Other non-current liabilities62000000Lease liabilities160000000Other financial liabilities943000000Other current liabilities2497000000Paints8832740000Paints35992000000883274000035992000000883274000035992000000Paints1740020000Paints2377595000017400200002377595000043020000121180000169700000023654770000Paints3795321000037953210000037953210000Paints379532100003795321000003795321000012118000031590000-3428300000-106300000000-537800000-18150000000-620000000752570000-80582000036800000-196000000018490000010619000002790000000-184590000000-219733200001681450000000748210000093324000000000000836880000470200000000115200000000000000000000011478000028747900002195000000080366700000000000000179810000847050000010400000000-875431000021560000021000021581000024823400002698150000Gain/(Loss) of defined benefit plans1831000018310000Gain/(Loss) of defined benefit plans-73000000-730000004210000-1861000014100000-54390000AuditedtruePrice Waterhouse Chartered Accountants LLPtrue2026-11-30