JSW Dulux Valuation Multiples

JSW Dulux is valued at $1.4B as of October 2026, a 3.5x revenue multiple. In the last 12 months, JSW Dulux revenue was $404M and JSW Dulux EBITDA was $57M.

JSW Dulux Overview

About JSW Dulux

JSW Dulux Ltd, formerly Akzo Nobel India, makes decorative paints under the Dulux brand and industrial coatings. It sells through dealers and tinting outlets to home owners and painters, and supplies industrial customers. It is one of the larger Indian paint makers and is now controlled by the JSW group. Headquartered in Gurugram.


Founded

1954

HQ

India

Employees

1.6K

Financials (LTM)

Revenue: $404M
EBITDA: $57M

EV

$1.4B

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JSW Dulux Financials

JSW Dulux reported last 12-month revenue of $404M and EBITDA of $57M.

In the same LTM period, JSW Dulux generated $184M in gross profit, $57M in EBITDA, and $41M in net income.


JSW Dulux P&L

In the most recent fiscal year, JSW Dulux reported revenue of $378M and EBITDA of $258M.

JSW Dulux is profitable as of last fiscal year, with gross margin of 39%, EBITDA margin of 68%, and net margin of 55%.

See analyst estimates for JSW Dulux
LTMLast FY202320242025202620272028
Revenue$404M$378M$412M$424M$390M
Gross Profit$184M$147M$163M$167M$152M
Gross Margin46%39%40%39%39%
EBITDA$57M$258M$64M$68M$210M
EBITDA Margin14%68%15%16%54%
EBIT Margin13%12%13%13%12%
Net Profit$41M$209M$43M$45M$168M
Net Margin10%55%10%11%43%
Net Debt-($20M)---

Financial data powered by Morningstar, Inc.

JSW Dulux Stock Performance

JSW Dulux has current market cap of $1.4B, and enterprise value of $1.4B.


JSW Dulux's stock price is $3.16.

JSW Dulux share price decreased by 1.6% in the last 30 days, and by 13.4% in the last year.

JSW Dulux has an EPS (earnings per share) of $0.46.

See more trading valuation data for JSW Dulux
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$1.4B$1.4B-90.2%-1.6%2.6%-13.4%$0.46

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JSW Dulux Valuation Multiples

JSW Dulux trades at 3.5x EV/Revenue multiple, and 25.0x EV/EBITDA.

See NTM and 2027E valuation multiples for JSW Dulux

JSW Dulux Financial Valuation Multiples

As of October 22, 2026, JSW Dulux has market cap of $1.4B and EV of $1.4B.

JSW Dulux has a P/E ratio of 34.8x.

LTMLast FY202320242025202620272028
EV/Revenue3.5x3.8x3.4x3.3x3.6x
EV/EBITDA25.0x5.5x22.3x21.0x6.7x
EV/EBIT26.7x31.4x26.1x24.9x29.5x
EV/Gross Profit7.7x9.7x8.7x8.5x9.3x
P/E34.8x6.9x33.8x31.8x8.6x
EV/FCFn/m(12.0x)37.5x56.9x(17.1x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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JSW Dulux Margins & Growth Rates

JSW Dulux grew revenue by 13% but EBITDA decreased by 77% in the last fiscal year.

In the most recent fiscal year, JSW Dulux reported gross margin of 39%, EBITDA margin of 68%, and net margin of 55%.

See estimated margins and future growth rates for JSW Dulux

JSW Dulux Margins

Last FY202420252026202720282029
Gross Margin39%39%39%35%
EBITDA Margin68%16%54%26%
EBIT Margin12%13%12%13%
Net Margin55%11%43%20%
FCF Margin(31%)6%(21%)(1%)

JSW Dulux Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth13%3%(8%)6%
Gross Profit Growth-2%(9%)(3%)
EBITDA Growth(77%)6%212%(48%)
EBIT Growth22%5%(16%)10%
Net Profit Growth(80%)6%270%(50%)
FCF Growth(129%)(34%)(434%)(95%)

Data powered by FactSet, Inc. and Morningstar, Inc.

JSW Dulux Operational KPIs

JSW Dulux's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

JSW Dulux's Rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

JSW Dulux's Rule of X is 42% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for JSW Dulux
LTMLast FY202320242025202620272028
Rule of 4027%33%---
Bessemer Rule of X46%42%---
Revenue per Employee-$0.2M---
Opex per Employee-$0.1M---
S&M Expenses to Revenue-8%8%7%8%
Opex to Revenue-27%26%26%27%

Data powered by FactSet, Inc. and Morningstar, Inc.

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JSW Dulux Competitors

JSW Dulux competitors include Huntsman, Suzhou Kingswood, Stepan, CAC Nantong Chemical Co, BBMG Jidong Cement Group, Saudi Chemical, Supreme Petrochem, CropEnergies, BASF India and Gallantt Ispat.

Most JSW Dulux public comparables operate across Chemicals and Building Materials.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Huntsman$5.7B$174M0.7x0.6x22.0x10.6x
Suzhou Kingswood$113M$29M12.5x12.8x48.1x44.6x
Stepan$2.3B$208M0.9x0.8x9.8x9.0x
CAC Nantong Chemical Co$805M$154M2.1x1.8x10.8x-
BBMG Jidong Cement Group$3.7B$633M1.1x1.2x6.1x7.6x
Saudi Chemical$1.8B$147M0.9x-11.4x-
Supreme Petrochem$569M$56M2.5x2.2x25.1x20.3x
CropEnergies$5M($40M)272.7x1.1x(35.3x)11.9x

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About JSW Dulux

When was JSW Dulux founded?JSW Dulux was founded in 1954.
Where is JSW Dulux headquartered?JSW Dulux is headquartered in India.
How many employees does JSW Dulux have?As of today, JSW Dulux has over 1K employees.
Who is the CEO of JSW Dulux?JSW Dulux's CEO is Rajiv Rajgopal.
Is JSW Dulux publicly listed?Yes, JSW Dulux is a public company listed on Bombay Stock Exchange.
What is the stock symbol of JSW Dulux?JSW Dulux trades under 500710 ticker.
When did JSW Dulux go public?JSW Dulux went public in 1991.
Who are competitors of JSW Dulux?JSW Dulux main competitors include Huntsman, Suzhou Kingswood, Stepan, CAC Nantong Chemical Co, BBMG Jidong Cement Group, Saudi Chemical, Supreme Petrochem, CropEnergies, BASF India, Gallantt Ispat.
What is the current market cap of JSW Dulux?JSW Dulux's current market cap is $1.4B.
What is the current revenue of JSW Dulux?JSW Dulux's last 12 months revenue is $404M.
What is the current revenue growth of JSW Dulux?JSW Dulux revenue growth (NTM/LTM) is 13%.
What is the current EV/Revenue multiple of JSW Dulux?Current revenue multiple of JSW Dulux is 3.5x.
What is the current EBITDA of JSW Dulux?JSW Dulux's last 12 months EBITDA is $57M.
What is JSW Dulux's EBITDA margin?JSW Dulux's last 12 months EBITDA margin is 14%.
What is the current EV/EBITDA multiple of JSW Dulux?Current EBITDA multiple of JSW Dulux is 25.0x.
What is the current FCF of JSW Dulux?JSW Dulux's last 12 months FCF is $1M.
What is JSW Dulux's FCF margin?JSW Dulux's last 12 months FCF margin is 0%.
What is the current EV/FCF multiple of JSW Dulux?Current FCF multiple of JSW Dulux is 1125.3x.
How many companies JSW Dulux has acquired to date?JSW Dulux hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies JSW Dulux has invested to date?JSW Dulux hasn't invested in any companies yet (or none have been disclosed publicly).

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