DIC India Share Price & Earnings Call Analysis
- Market cap
- ₹500 Cr
- P/E
- 16.29
- ROE
- 4.51%
- PEG
- 0.75
- Price to sales
- 0.51
- Debt to equity
- 0.01
- 52W high / low
- ₹666 / ₹462
- Sales growth (5Y)
- 7.95%
- EBITDA margin
- 5.58%
- Net profit margin
- 2.14%
- Promoter holding
- 71.75%
- Sales (last year)
- ₹980 Cr
Incorporated in 1947, DIC India Ltd is in the business of manufacturing Printing Inks, and also provides Lamination Adhesive[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹234 Cr | 3.0 | |
| 2 | 40%+ | Flat | ₹3,888 Cr | 48.5 | |
| 3 | 40%+ | Flat | ₹3,514 Cr | 4.3 | |
| 4 | 40%+ | Flat | ₹180 Cr | 11.9 | |
| 5 | 40%+ | Flat | ₹138 Cr | 15.1 | |
| 6 | 20–40% | Up 2%+ | ₹1.70L Cr | 85.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of DIC India
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
DIC India
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% |
| Public + | 28.26% | 28.25% | 28.24% | 28.23% | 28.23% | 28.24% | 28.24% | 28.24% | 28.25% | 28.25% | 28.24% | 28.25% |
| No. of Shareholders | 7,063 | 6,918 | 6,975 | 6,381 | 6,417 | 6,652 | 6,374 | 6,473 | 6,420 | 6,337 | 6,260 | 6,407 |
Financials of DIC India
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 208 | 217 | 205 | 199 | 243 | 221 | 219 | 210 | 226 | 223 | 232 | 241 | 284 |
| YoY Sales growth | -4% | -11% | -0% | +17% | +2% | +7% | +6% | -7% | +1% | +6% | +14% | +25% | |
| Expenses + | 206 | 212 | 205 | 190 | 231 | 214 | 210 | 203 | 217 | 211 | 220 | 232 | 262 |
| Operating Profit | 2 | 4 | 0 | 8 | 12 | 7 | 9 | 7 | 9 | 12 | 12 | 9 | 22 |
| OPM % | 0.9% | 2.1% | 0.2% | 4.1% | 4.8% | 3.3% | 4.3% | 3.2% | 4.1% | 5% | 5% | 3.6% | 8% |
| Other Income + | 1 | -17 | -4 | 1 | 2 | 2 | 5 | 1 | 1 | 1 | -0 | 2 | 2 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 5 | 5 | 5 | 5 |
| Profit before tax | -3 | -18 | -8 | 4 | 8 | 4 | 9 | 4 | 6 | 8 | 6 | 6 | 19 |
| Tax % | -18% | -24% | -12% | 6% | 26% | 47% | 23% | 26% | 27% | 26% | 26% | 27% | 26% |
| Net Profit + | -3 | -14 | -7 | 4 | 6 | 2 | 7 | 3 | 4 | 6 | 5 | 4 | 14 |
| EPS in Rs | -2.80 | -15.07 | -7.82 | 4.58 | 6.77 | 2.16 | 7.79 | 2.82 | 4.75 | 6.40 | 4.97 | 4.62 | 15.55 |
Financials of DIC India
Profit & Loss
Annual income statement trend
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 722 | 750 | 707 | 738 | 838 | 791 | 608 | 745 | 872 | 829 | 882 | 892 | 980 |
| Sales growth | +1% | +4% | -6% | +4% | +14% | -6% | -23% | +22% | +17% | -5% | +6% | +1% | +12% |
| Expenses + | 723 | 691 | 665 | 726 | 839 | 771 | 586 | 722 | 851 | 819 | 845 | 852 | 925 |
| Operating Profit | -1 | 59 | 42 | 12 | -1 | 20 | 23 | 23 | 21 | 10 | 36 | 40 | 55 |
| OPM % | -0.1% | 8% | 6% | 1.6% | -0.2% | 2.6% | 3.7% | 3.1% | 2.4% | 1.2% | 4.1% | 4.5% | 6% |
| Other Income + | -20 | 4 | 6 | -9 | 15 | 13 | 105 | 10 | 41 | -16 | 10 | 4 | 5 |
| Interest | 6 | 5 | 2 | 3 | 6 | 5 | 2 | 1 | 4 | 4 | 2 | 1 | 2 |
| Depreciation | 13 | 17 | 15 | 16 | 13 | 11 | 15 | 14 | 13 | 18 | 19 | 18 | 19 |
| Profit before tax | -39 | 40 | 31 | -16 | -6 | 17 | 111 | 17 | 44 | -28 | 26 | 24 | 39 |
| Tax % | -21% | 26% | 26% | -25% | 58% | -6% | 23% | 26% | 8% | -20% | 25% | 27% | |
| Net Profit + | -31 | 30 | 23 | -12 | -9 | 18 | 86 | 12 | 41 | -23 | 20 | 17 | 29 |
| EPS in Rs | -33.65 | 32.37 | 24.88 | -12.84 | -10.15 | 20.10 | 93.58 | 13.50 | 44.65 | -24.71 | 21.29 | 18.93 | 31.54 |
| Dividend Payout % | 0% | 12% | 16% | 0% | 0% | 22% | 6% | 37% | 4% | 0% | 19% | 16% |
Financials of DIC India
Balance Sheet
Capital structure and asset base
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 251 | 275 | 293 | 281 | 271 | 289 | 370 | 377 | 413 | 387 | 406 | 419 | 435 |
| Borrowings + | 35 | 2 | 0 | 35 | 51 | 35 | 6 | 5 | 24 | 20 | 3 | 4 | 3 |
| Other Liabilities + | 139 | 122 | 143 | 167 | 273 | 136 | 144 | 220 | 203 | 165 | 169 | 198 | 289 |
| Total Liabilities | 435 | 408 | 445 | 492 | 603 | 469 | 529 | 611 | 649 | 581 | 587 | 630 | 737 |
| Fixed Assets + | 87 | 71 | 69 | 54 | 57 | 59 | 79 | 76 | 88 | 143 | 141 | 138 | 135 |
| CWIP | 2 | 2 | 4 | 7 | 3 | 1 | 1 | 9 | 77 | 15 | 4 | 1 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 346 | 335 | 372 | 431 | 543 | 408 | 449 | 526 | 484 | 423 | 442 | 491 | 599 |
| Total Assets | 435 | 408 | 445 | 492 | 603 | 469 | 529 | 611 | 649 | 581 | 587 | 630 | 737 |
Financials of DIC India
Cash Flows
Operating, investing and financing cash movement
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2 | 42 | 46 | -13 | -9 | 58 | 24 | -7 | 37 | 5 | 16 | 43 |
| Cash from Investing Activity + | -10 | -5 | -15 | -3 | -22 | -37 | 38 | 56 | -34 | -30 | -6 | -10 |
| Cash from Financing Activity + | 1 | -37 | -10 | 28 | 12 | -22 | -44 | -9 | -8 | 5 | -18 | -7 |
| Net Cash Flow | -6 | 0 | 21 | 12 | -19 | 0 | 18 | 40 | -6 | -20 | -8 | 25 |
| Free Cash Flow | -8 | 37 | 31 | -16 | -16 | 3 | 18 | -13 | 2 | -26 | 10 | 32 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -81% | 88% | 139% | -102% | 751% | 298% | 202% | 12% | 200% | 73% | 43% | 124% |
Financials of DIC India
Ratios
Working capital efficiency and return ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 100 | 101 | 109 | 107 | 93 | 109 | 114 | 105 | 97 | 100 | 108 |
| Inventory Days | 73 | 70 | 87 | 81 | 78 | 62 | 88 | 99 | 59 | 61 | 66 | 70 |
| Days Payable | 70 | 57 | 68 | 90 | 107 | 70 | 96 | 126 | 82 | 68 | 66 | 81 |
| Cash Conversion Cycle | 105 | 114 | 120 | 99 | 77 | 85 | 101 | 88 | 82 | 90 | 99 | 97 |
| Working Capital Days | 87 | 101 | 105 | 89 | 68 | 87 | 106 | 103 | 82 | 75 | 90 | 87 |
| ROCE % | -4% | 16% | 11% | -0% | -0% | 7% | 4% | 5% | 4% | -1% | 6% | 6% |
Momentum score · price trend
34 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +7.5% | 66% |
| Last 6 months | +4.2% | 61% |
| Last 3 months | +8.8% | 81% |
The price is 30.6% below its all-time high of ₹799.95 (18 Oct 2024). Stocks more than 20% below their peak have their score halved, so 67 became 34.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For DIC India: 0.4 × 66 + 0.4 × 61 + 0.2 × 81 = 67, halved to 34 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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