Mumbai, Sept. 5 -- ICRA stated that the assigned rating factors in JSW Dulux Limited's (JDL) established market position in the Indian decorative and industrial paints industry, supported by strong brand equity, an extensive distribution network and a healthy financial risk profile, characterised by robust profitability metrics and a net cash position.

In December 2025, JSW Paints Limited (JPL) acquired nearly 61% stake in Akzo Nobel India and subsequently renamed the company as JSW Dulux (JDL).

Following the acquisition, JDL became a part of the JSW Group, significantly enhancing its financial flexibility. This association is expected to yield various business and operational synergies to the Group in the form of expansion in scale and...