Akzo Nobel India Limited (NSE: AKZOINDIA) announced its Q3 and nine-month financial results for FY2025-26. Comparable results exclude divested Powder Coatings and IRC businesses. The company reported volume growth despite revenue declines.
Q3 FY2025-26 Comparable Performance
Revenue from operations fell 1.0% to ₹907.7 crore from ₹916.6 crore. EBITDA from operations dipped 2.0% to ₹135.7 crore from ₹138.4 crore. PAT excluding exceptional items rose 5.9% to ₹94.6 crore from ₹89.3 crore.
Volumes grew 5.9% overall, and 6.6% excluding exports. Domestic decorative paints volumes increased 8%, driven by premium products. Revenue grew 1.8% excluding exports due to premium portfolio focus.
Joint MD and CEO Rajiv Rajgopal noted reinvestment of royalty savings into pricing and painter engagement. Automotive, marine, and industrial coatings secured new global and Indian clients.
9M FY2025-26 Comparable Metrics
Nine-month revenue declined 2.2% to ₹2,737.7 crore from ₹2,800.7 crore. EBITDA from operations dropped 9.7% to ₹380.7 crore from ₹421.7 crore. PAT excluding exceptional items fell 7.6% to ₹258.5 crore from ₹279.7 crore.
Exceptional items totaled ₹27.9 crore in both periods, covering labor codes, bonuses, and impairment receipts. Last year’s figures are provisional management estimates.
Reported Results Including Divested Units
Q3 reported revenue decreased 13.6% to ₹907.7 crore from ₹1,050.5 crore. EBITDA fell 18.7% to ₹135.7 crore from ₹167.0 crore. PAT excluding exceptional items declined 12.9% to ₹94.6 crore from ₹108.6 crore.
Nine-month reported revenue dropped 10.8% to ₹2,737.7 crore from ₹3,069.1 crore. EBITDA decreased 21.1% to ₹380.7 crore from ₹482.3 crore. PAT excluding exceptional items fell 19.5% to ₹258.5 crore from ₹321.1 crore.
Nine-month exceptional items included ₹1,846.3 crore from divested business sales and costs.
Corporate and Business Updates
JSW Paints Limited acquired 61.2% stake on December 10, 2025, becoming promoter. Parth Jindal joined as Non-Executive Chairman; Rajiv Rajgopal redesignated Joint MD and CEO. Shantanu Maharaj Khosla appointed Independent Director.
The board proposed renaming to “JSW Dulux Limited,” pending approvals. Decorative paints launched Dulux Weathershield Metallics (80+ shades, 10-year warranty), Floor Plus (800+ colors, 2-year warranty), and three Textures finishes. Focus shifts to innovation, technology, and digital post-JSW integration.