DIC India Ltd
Incorporated in 1947, DIC India Ltd is in the business of manufacturing Printing Inks, and also provides Lamination Adhesive[1]
- Market Cap ₹ 455 Cr.
- Current Price ₹ 496
- High / Low ₹ 748 / 468
- Stock P/E 23.4
- Book Value ₹ 456
- Dividend Yield 0.81 %
- ROCE 6.43 %
- ROE 4.66 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.09 times its book value
Cons
- The company has delivered a poor sales growth of 2.19% over past five years.
- Company has a low return on equity of 2.28% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Printing Inks
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 712 | 722 | 750 | 707 | 738 | 838 | 791 | 608 | 745 | 872 | 829 | 882 | 879 | |
| 684 | 723 | 691 | 665 | 726 | 839 | 771 | 586 | 722 | 851 | 819 | 845 | 842 | |
| Operating Profit | 28 | -1 | 59 | 42 | 12 | -1 | 20 | 23 | 23 | 21 | 10 | 36 | 37 |
| OPM % | 4% | -0% | 8% | 6% | 2% | -0% | 3% | 4% | 3% | 2% | 1% | 4% | 4% |
| 1 | -20 | 4 | 6 | -9 | 15 | 13 | 105 | 10 | 41 | -16 | 10 | 9 | |
| Interest | 4 | 6 | 5 | 2 | 3 | 6 | 5 | 2 | 1 | 4 | 4 | 2 | 2 |
| Depreciation | 12 | 13 | 17 | 15 | 16 | 13 | 11 | 15 | 14 | 13 | 18 | 19 | 18 |
| Profit before tax | 12 | -39 | 40 | 31 | -16 | -6 | 17 | 111 | 17 | 44 | -28 | 26 | 27 |
| Tax % | -4% | -21% | 26% | 26% | -25% | 58% | -6% | 23% | 26% | 8% | -20% | 25% | |
| 13 | -31 | 30 | 23 | -12 | -9 | 18 | 86 | 12 | 41 | -23 | 20 | 20 | |
| EPS in Rs | 13.66 | -33.65 | 32.37 | 24.88 | -12.84 | -10.15 | 20.10 | 93.58 | 13.50 | 44.65 | -24.71 | 21.29 | 21.76 |
| Dividend Payout % | 29% | -0% | 12% | 16% | -0% | -0% | 22% | 6% | 37% | 4% | -0% | 19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 2% |
| 3 Years: | 6% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 1% |
| 3 Years: | 15% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | 5% |
| 3 Years: | 9% |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 3% |
| 3 Years: | 2% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Jun 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 282 | 251 | 275 | 293 | 281 | 271 | 289 | 370 | 377 | 413 | 387 | 406 | 409 |
| 23 | 35 | 2 | -0 | 35 | 51 | 35 | 6 | 5 | 24 | 20 | 3 | 4 | |
| 133 | 139 | 122 | 143 | 167 | 273 | 136 | 144 | 220 | 203 | 165 | 169 | 190 | |
| Total Liabilities | 447 | 435 | 408 | 445 | 492 | 603 | 469 | 529 | 611 | 649 | 581 | 587 | 613 |
| 97 | 87 | 71 | 69 | 54 | 57 | 59 | 79 | 76 | 88 | 143 | 141 | 136 | |
| CWIP | 1 | 2 | 2 | 4 | 7 | 3 | 1 | 1 | 9 | 77 | 15 | 4 | 5 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 |
| 350 | 346 | 335 | 372 | 431 | 543 | 408 | 449 | 526 | 484 | 423 | 442 | 471 | |
| Total Assets | 447 | 435 | 408 | 445 | 492 | 603 | 469 | 529 | 611 | 649 | 581 | 587 | 613 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 2 | 42 | 46 | -13 | -9 | 58 | 24 | -7 | 37 | 5 | 16 | |
| -12 | -10 | -5 | -15 | -3 | -22 | -37 | 38 | 56 | -34 | -30 | -6 | |
| -20 | 1 | -37 | -10 | 28 | 12 | -22 | -44 | -9 | -8 | 5 | -18 | |
| Net Cash Flow | 1 | -6 | 0 | 21 | 12 | -19 | 0 | 18 | 40 | -6 | -20 | -8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 104 | 102 | 100 | 101 | 109 | 107 | 93 | 109 | 114 | 105 | 97 | 100 |
| Inventory Days | 74 | 73 | 70 | 87 | 81 | 78 | 62 | 88 | 99 | 59 | 61 | 66 |
| Days Payable | 60 | 70 | 57 | 68 | 90 | 107 | 70 | 96 | 126 | 82 | 68 | 66 |
| Cash Conversion Cycle | 118 | 105 | 114 | 120 | 99 | 77 | 85 | 101 | 88 | 82 | 90 | 99 |
| Working Capital Days | 100 | 87 | 101 | 105 | 89 | 68 | 87 | 106 | 103 | 82 | 75 | 91 |
| ROCE % | 5% | -4% | 16% | 11% | -0% | -0% | 7% | 4% | 5% | 4% | -1% | 6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
15h - Copies of Newspaper Advertisement published by the Company in Business Standards and Aajkal regarding opening of special window for physical shareholders to submit re-lodgement requests …
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Intimation Under Regulation 30 And Schedule III Of The SEBI (LODR) Regulations, 2015 ('Listing Regulations').
11 Dec - Agam filed Section 34 challenge (10.12.2025) to set aside 20.08.2025 award: ₹2.08 crore + ₹1.27 crore interest.
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Announcement under Regulation 30 (LODR)-Change in Management
10 Dec - Avijit Mukerji appointed additional Independent Director w.e.f. Dec 10, 2025; postal ballot to ratify.
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Board Meeting Outcome for Outcome Of Board Meeting Held On December 10, 2025
10 Dec - Board appointed Avijit Mukerji as Additional Independent Director effective Dec 10, 2025; postal ballot for approval.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Receipt Of Order Under Section 73(1) Of Karnataka Goods And Service Tax Act 2017, Central Goods And Service Tax Act 2017 And Section 20 Of The Integrated Goods And Services Tax Act,2017.
3 Dec - Final GST order (03-Dec-2025): demand cut from INR 6.71 Cr to INR 3.81 lakh (incl. penalty).
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
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Financial Year 2018
from bse
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from nse
Business Overview:[1]
DIC India Ltd (formerly, Coates of India Ltd) manufactures printing ink, including newsprint ink, offset ink, liquid ink, Flexographic inks, and lamination adhesives used in the newspaper, publishing, and packaging industries. Company also introduced flexi-packaging toluene free ink in FY23.