JSW Dulux Share Price Target 2026, 2027, 2030, 2040, 2050
JSW Dulux makes paints and other coating products. The company is mainly known for its Dulux brand, which offers paints for homes, offices, shops and commercial buildings. Its products include interior and exterior wall paints, decorative paints and other coatings. The company also makes special coatings for industries such as automobiles, construction, infrastructure and marine applications. It has a strong presence in India through its factories, dealers and large network of retailers.
What is JSW Dulux Ltd NSE: JSWDULUX?
JSW Dulux was established in 1954 in Mumbai, Maharashtra, and is now owned by the JSW Group. It is a well-known company that makes and sells paints and coating products. The company was earlier called Akzo Nobel India Limited and became part of the JSW Group. The company is mainly known for its Dulux brand, which sells paints for homes, offices, shops and other buildings. It also makes special coatings used in industries such as automobiles, construction, infrastructure, ships and manufacturing. It has a strong business network in India, including factories, dealers and retailers.
In 1911, ICI started its business in India, while Brunner Mond & Co. opened a trading office in Calcutta, now called Kolkata. Over the years, the business grew and entered different areas, including chemicals and other industrial products. The company later changed its name and business structure several times. In 1989, it became ICI India Limited, and in 2010, it was renamed Akzo Nobel India Limited. This long history has helped the company gain many years of experience in paints, coatings, chemicals and other related products. In 2026, its share price target would be ₹4022, as per stock market analysts.
According to stock market analysts, its share price would be between ₹2617 to ₹4022 in 2026.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 2691 | 4022 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 2691 | 3174 |
| February | 2617 | 3077 |
| March | 2626 | 2904 |
| April | 2715 | 3017 |
| May | 2813 | 3122 |
| June | 3009 | 3278 |
| July | 2862 | 3325 |
| August | 2790 | 3370 |
| September | 2740 | 3521 |
| October | 2865 | 3745 |
| November | 3158 | 3887 |
| December | 3356 | 4022 |
It is now part of the JSW Group, one of India’s large business groups. It has businesses in areas such as steel, energy, cement and infrastructure. According to the company’s FY2025-26 annual report, JSW Paints owned around 61.20% of JSW Dulux as of March 31, 2026. The acquisition also gives JSW a chance to grow its business in India’s paint market. In 2027, its share price target would be ₹5368, as per stock market analysts.
According to stock market analysts, its share price would be between ₹3932 to ₹5368 in 2027.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2027 | 3932 | 5368 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 3932 | 4325 |
| February | 4012 | 4458 |
| March | 4145 | 4587 |
| April | 4215 | 4674 |
| May | 4335 | 4732 |
| June | 4414 | 4785 |
| July | 4245 | 4832 |
| August | 4358 | 4965 |
| September | 4548 | 5052 |
| October | 4678 | 5145 |
| November | 4745 | 5223 |
| December | 4890 | 5368 |
The Dulux brand is one of the biggest strengths of its parent company. Dulux is a well-known paint brand used in homes, offices, shops and other buildings. The company offers different types of paints for both inside and outside walls, with many colours and finishes. These paints are made to improve the look of buildings and also help protect walls and surfaces. The company also offers services such as Dulux Assurance, which provides warranty coverage for certain problems such as peeling, fading, colour issues and dampness, subject to its terms. In 2028, its share price target would be ₹6356, as per stock market analysts.
According to stock market analysts, its share price would be between ₹5125 to ₹6356 in 2028.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2028 | 5125 | 6356 |
It has several other brands apart from Dulux. Its portfolio also includes International and Sikkens, which help the company serve different customers and industries. Dulux is mainly known for decorative paints, while International and Sikkens are also connected with specialised and professional coating products. Having different brands allows the company to offer products for many different needs. Some products are used to make buildings look better, while others are designed to protect vehicles, machines, industrial equipment and infrastructure. In 2029, its share price target would be ₹7196, as per stock market analysts.
According to stock market analysts, its share price would be between ₹6178 to ₹7196 in 2029.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2029 | 6178 | 7196 |
Its paints are mainly used in homes, offices, shops and other buildings. They help make walls look attractive while also providing protection. The company offers paints for both interior and exterior surfaces, with different colours, finishes and features. Demand for decorative paints can increase when people build new houses, renovate old homes or when construction activity grows. India’s growing housing and construction sectors can therefore provide opportunities for JSW Dulux. In 2030, its share price target would be ₹8447, as per stock market analysts.
According to stock market analysts, its share price would be between ₹7000 to ₹8447 in 2030.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2030 | 7000 | 8447 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 7000 | 7390 |
| February | 7154 | 7541 |
| March | 7190 | 7751 |
| April | 7277 | 7856 |
| May | 7345 | 7998 |
| June | 7525 | 8054 |
| July | 7785 | 8154 |
| August | 7856 | 8265 |
| September | 7721 | 8290 |
| October | 7868 | 8365 |
| November | 7998 | 8400 |
| December | 8158 | 8447 |
Apart from household paints, it also makes industrial coatings. These are special products made for use in factories and different industries. They are designed to protect surfaces and provide better performance in specific conditions. According to the company, its industrial coating products include coil coatings, packaging coatings and extrusion coatings. These products can be used in areas such as roofing materials, household appliances and food and beverage packaging. In 2040, its share price target would be ₹17797, as per stock market analysts.
According to stock market analysts, its share price would be between ₹16000 to ₹17797 in 2040.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2040 | 16000 | 17797 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 16000 | 16541 |
| February | 16154 | 16785 |
| March | 16254 | 16956 |
| April | 16458 | 17078 |
| May | 16780 | 17177 |
| June | 16858 | 17221 |
| July | 16984 | 17355 |
| August | 17065 | 17425 |
| September | 17154 | 17500 |
| October | 17356 | 17589 |
| November | 17452 | 17660 |
| December | 17500 | 17797 |
It has more than 25,000 retailers across India, according to the company. This large network helps its products reach customers in major cities as well as smaller towns and markets. It also makes it easier for homeowners, painters, contractors and builders to find Dulux products when they need them. Building such a large network takes many years and requires strong relationships with dealers and retailers. This network is therefore an important advantage for the company. In 2050, its share price target would be ₹28585, as per stock market analysts.
According to stock market analysts, its share price would be between ₹26885 to ₹28585 in 2050.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2050 | 26885 | 28585 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 26885 | 27100 |
| February | 26988 | 27275 |
| March | 27041 | 27452 |
| April | 27154 | 27624 |
| May | 27265 | 27785 |
| June | 27358 | 27955 |
| July | 27657 | 28087 |
| August | 27754 | 28189 |
| September | 27852 | 28264 |
| October | 28000 | 28368 |
| November | 28058 | 28458 |
| December | 28156 | 28585 |
Should I buy JSW Dulux stock?
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 2691 | 4022 |
| 2027 | 3932 | 5368 |
| 2028 | 5125 | 6356 |
| 2029 | 6178 | 7196 |
| 2030 | 7000 | 8447 |
| 2040 | 16000 | 17797 |
| 2050 | 26885 | 28585 |
The company looks promising, but it may be better to buy in small amounts instead of investing all your money at once. Its main strengths include the popular Dulux brand, a large retailer network, five manufacturing plants and businesses in decorative and industrial paints. JSW Paints owns around 61.2% of the company, giving the JSW Group control over the business. JSW Dulux can benefit from India’s growing housing, construction and renovation demand.
JSW Dulux earnings results
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
| Sales + | 2,421 | 3,149 | 3,802 | 3,962 | 4,069 | 3,599 | 3,578 |
| Expenses + | 2,078 | 2,714 | 3,276 | 3,328 | 3,427 | 3,090 | 3,088 |
| Operating Profit | 343 | 434 | 526 | 633 | 642 | 509 | 489 |
| OPM % | 14% | 14% | 14% | 16% | 16% | 14% | 14% |
| Other Income + | 21 | 23 | 26 | 35 | 27 | 1,944 | 1,961 |
| Interest | 10 | 14 | 14 | 12 | 10 | 12 | 12 |
| Depreciation | 76 | 76 | 82 | 82 | 89 | 75 | 77 |
| Profit before tax | 278 | 367 | 456 | 573 | 570 | 2,366 | 2,361 |
| Tax % | 25% | 21% | 26% | 26% | 25% | 17% | |
| Net Profit + | 208 | 290 | 335 | 427 | 430 | 1,974 | 1,962 |
| EPS in Rs | 45.59 | 63.70 | 73.58 | 93.68 | 94.31 | 433.42 | 430.94 |
| Dividend Payout % | 110% | 118% | 88% | 80% | 106% | 47% |
Key Metrics
| TTM PE Ratio | PB Ratio | Dividend Yield | Sector PE | Sector PB | Sector Div Yld |
| 7.33 | 5.86 | 6.53% | 25.25 | 3.22 | 1.37% |
Peers & Comparison
| Stock | PE Ratio | PB Ratio | Dividend Yield |
| JSW Dulux Ltd | 7.28 | 5.86 | 6.53% |
| Asian Paints Limited | 60.63 | 11.91 | 1.01% |
| Berger Paints India Ltd | 55.35 | 9.00 | 0.75% |
| Kansai Nerolac Paints Ltd | 29.12 | 2.57 | 1.77% |
Is JSW Dulux stock good to buy? (bull case & bear case)
Bull Case:
- It reported total income of ₹3,675.84 crore in FY26, compared with ₹3,601.45 crore in FY25.
- The company earned a net profit of ₹282.47 crore in FY26, compared with ₹286.68 crore in FY25.
- Its revenue from operations reached ₹3,599.35 crore in FY26, compared with ₹3,533.57 crore in FY25.
- It recorded 23% growth in sales volume in Q4 FY26, showing that demand for its products is growing.
- The company has different types of products, including decorative paints and industrial coatings under brands such as Dulux, International and Sikkens.
- It has five manufacturing plants and more than 25,000 retailers across India, helping the company reach customers in many parts of the country.
Bear Case:
- The company’s net profit fell slightly from ₹286.68 crore in FY25 to ₹282.47 crore in FY26, so investors need to see stronger profit growth in the future.
- It saw about a 7% fall in EBITDA in FY26, which means higher sales volumes have not yet led to higher operating profits.
- The company can face problems when raw-material prices rise, as higher costs can reduce its profit margins.
- It faces strong competition from other big paint companies, which can make it harder to increase its market share.
Conclusion
It is a well-known paint and coatings company with the strong Dulux brand, a large retailer network, five manufacturing plants and the support of the JSW Group. The company can benefit from growing demand for homes, construction and renovation in India, while its industrial coatings business offers another growth opportunity. However, investors should watch for strong competition, rising raw-material costs and profit growth. Overall, it could be good for long-term investment, but it may be better to buy gradually at a good price instead of investing a large amount at once.
