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Swing Capital

DIC India Ltd

NSE: DICIND BSE: 500089

Incorporated in 1947, DIC India Ltd is in the business of manufacturing Printing Inks, and also provides Lamination Adhesive[1]

₹496
52W: ₹450 — ₹699
PE 21.9 · Book ₹467 · +6% vs book
Market Cap₹455 Cr
Stock P/E21.9Price to Earnings
ROCE6.42%Return on Capital
ROE4.51%Return on Equity
Div. Yield0.59%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Stock is trading at 1.05 times its book value

Weaknesses

  • −The company has delivered a poor sales growth of 7.95% over past five years.
  • −Company has a low return on equity of 2.93% over last 3 years.

Shareholding Pattern

Promoters71.75%
FIIs0%
DIIs0%
Public28.25%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.75%71.75%71.75%71.75%71.75%71.75%71.75%71.75%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public28.24%28.23%▼0.028.23%28.24%▲0.028.24%28.24%28.25%▲0.028.25%

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales205.13198.6242.7221.01219.22210.21226.48223.17231.93240.52
Expenses204.68190.47231.09213.72209.81203.42217.12211.43220.11231.85
Operating Profit0.458.1311.617.299.416.799.3611.7411.828.67
OPM %0.22%4.09%4.78%3.3%4.29%3.23%4.13%5.26%5.1%3.6%
Net Profit-7.184.26.211.987.152.594.365.874.564.24
EPS ₹-7.824.586.772.167.792.824.756.44.974.62

AI Insights

Revenue Trend

TTM revenue at ₹922Cr, up 3.4% YoY. OPM at 5%.

Debt Position

Borrowings at ₹4Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 71.75%.

Margin & Efficiency

ROCE improving from -4% (Dec 2014) to 6% (Dec 2025). Working capital days: 87.

Valuation

PE 21.9x with 6.42% ROCE. Price is 6% above book value of ₹467. Dividend yield: 0.59%.

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