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 ₹ 446 Cr.
- Current Price ₹ 486
- High / Low ₹ 748 / 468
- Stock P/E 22.9
- Book Value ₹ 456
- Dividend Yield 0.82 %
- ROCE 6.43 %
- ROE 4.66 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.07 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: | -4% |
| 5 Years: | 4% |
| 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
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - DP) Regulations, please find enclosed certificate received from the Registrar and share transfer agent of the Company.
-
Announcement under Regulation 30 (LODR)-Change in Management
1 Jan - Paul Koek resigned as Non-Executive Non-Independent Director effective 1 Jan 2026 due to retirement from parent company.
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Receipt Of Demand Order U/S 73 Of Uttar Pradesh Goods And Services Tax Act, 2017
31 Dec - Received GST demand INR 6,61,766 (GST ₹6,01,606 + penalty ₹60,160) dated Dec 31, 2025.
-
Closure of Trading Window
26 Dec - Trading window closed Jan 1, 2026 until 48 hours after financial results for quarter and year ended Dec 31, 2025.
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Receipt Of Demand Order U/S 73 Of Gujarat Goods And Services Tax Act, 2017.
26 Dec - Received Dec 26, 2025 GST demand ₹1,696,501 for FY2021-22 (tax ₹906,074; interest ₹689,907; penalty ₹100,520).
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
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.