DICIND

DIC India Limited

Printing inks manufacturer, subsidiary of Japan's DIC Corporation

Commodities›Chemicals›Chemicals & Petrochemicals›Printing Inks

dic.co.in(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹598.90
Market cap
550 Cr
Stock P/E
19.0
P/B
1.24
Dividend yield
0.5%
ROE (year to Dec 2025)
4.1%
ROCE (year to Dec 2025)
5.8%
Operating margin (year to Dec 2025)
2.4%
OCF / EBITDA (year to Dec 2025)
107.7%
OCF / EBITDA (3Y)
75.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

DIC India makes printing inks, mainly selling to customers in India, and is the Indian listed subsidiary of Japan's DIC Corporation.

Company snapshot

1stBy market cap

Ranked among 1 companies in Printing Inks.

Segment mix

Reportable segments as of 2021-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 94.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Inks
94.6%
208 Cr6 Cr451 Cr
Lamination Adhesive
5.4%
12 Cr0.04 Cr33 Cr

What we see

Positives
  • ✓Interest coverage of 15.1x — earnings comfortably cover interest obligations.
Concerns
  • ✗Net margin is very thin at 1.9% — little room for error if costs rise.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales217 Cr205 Cr199 Cr243 Cr221 Cr219 Cr210 Cr226 Cr223 Cr232 Cr241 Cr284 Cr
Operating expenses (approx.)212 Cr205 Cr190 Cr231 Cr214 Cr210 Cr203 Cr217 Cr211 Cr220 Cr232 Cr262 Cr
EBITDA4 Cr0.45 Cr8 Cr12 Cr7 Cr9 Cr7 Cr9 Cr12 Cr12 Cr9 Cr22 Cr
OPM %2.1%0.2%4.1%4.8%3.3%4.3%3.2%4.1%5.3%5.1%3.6%7.9%
Other income1 Cr2 Cr1 Cr2 Cr2 Cr5 Cr1 Cr1 Cr1 Cr2 Cr2 Cr2 Cr
Interest1 Cr0.54 Cr0.36 Cr0.32 Cr0.34 Cr0.74 Cr0.33 Cr0.29 Cr0.33 Cr0.47 Cr0.34 Cr0.37 Cr
Depreciation5 Cr5 Cr5 Cr5 Cr5 Cr5 Cr4 Cr4 Cr5 Cr5 Cr5 Cr5 Cr
Profit before tax-18 Cr-8 Cr4 Cr8 Cr4 Cr9 Cr4 Cr6 Cr8 Cr6 Cr6 Cr19 Cr
Tax %24.0%12.3%6.5%25.7%46.8%23.3%26.5%27.2%26.0%26.5%26.8%25.6%
Net profit-14 Cr-7 Cr4 Cr6 Cr2 Cr7 Cr3 Cr4 Cr6 Cr5 Cr4 Cr14 Cr
EPS (₹)₹-15.07₹-7.83₹4.57₹6.76₹2.16₹7.79₹2.82₹4.75₹6.40₹4.96₹4.62₹15.54

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricDec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
Sales741 Cr838 Cr791 Cr608 Cr745 Cr872 Cr829 Cr882 Cr892 CrSign in free for the trailing twelve months
Operating expenses (approx.)731 Cr839 Cr771 Cr586 Cr722 Cr852 Cr819 Cr845 Cr852 CrSign in free for the trailing twelve months
EBITDA9 Cr-1 Cr20 Cr23 Cr23 Cr20 Cr10 Cr36 Cr40 CrSign in free for the trailing twelve months
OPM %1.2%-0.2%2.6%3.7%3.1%2.3%1.2%4.1%4.5%Sign in free for the trailing twelve months
Other income5 Cr15 Cr13 Cr7 Cr10 Cr8 Cr8 Cr10 Cr6 CrSign in free for the trailing twelve months
Interest3 Cr6 Cr5 Cr2 Cr1 Cr4 Cr4 Cr2 Cr1 CrSign in free for the trailing twelve months
Depreciation16 Cr13 Cr11 Cr15 Cr14 Cr13 Cr18 Cr19 Cr18 CrSign in free for the trailing twelve months
Profit before tax-17 Cr-6 Cr17 Cr111 Cr17 Cr44 Cr-28 Cr26 Cr24 CrSign in free for the trailing twelve months
Tax %25.8%-58.3%-5.6%22.5%26.1%7.5%19.7%24.5%26.5%Sign in free for the trailing twelve months
Net profit-12 Cr-9 Cr18 Cr86 Cr12 Cr41 Cr-23 Cr20 Cr17 CrSign in free for the trailing twelve months
EPS (₹)₹-13.48₹-10.16₹20.10₹93.58₹13.50₹44.65₹-24.70₹21.29₹18.93Sign in free for the trailing twelve months
Dividend payout %———0.0%44.4%-11.2%—0.2%21.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricDec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Equity capital9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr
Reserves281 Cr271 Cr289 Cr370 Cr377 Cr413 Cr387 Cr406 Cr419 Cr
Borrowings35 Cr51 Cr35 Cr——24 Cr20 Cr1 Cr—
Other liabilities167 Cr244 Cr136 Cr150 Cr225 Cr203 Cr165 Cr171 Cr202 Cr
Total liabilities492 Cr575 Cr469 Cr529 Cr611 Cr649 Cr581 Cr587 Cr630 Cr
Fixed assets (net)55 Cr57 Cr59 Cr55 Cr53 Cr49 Cr121 Cr120 Cr138 Cr
CWIP7 Cr3 Cr1 Cr1 Cr9 Cr77 Cr15 Cr4 Cr1 Cr
Investments—0 Cr0 Cr0 Cr0 Cr0 Cr0.30 Cr0.54 Cr0.12 Cr
Inventories122 Cr139 Cr98 Cr103 Cr149 Cr110 Cr104 Cr119 Cr126 Cr
Trade receivables220 Cr245 Cr201 Cr182 Cr233 Cr251 Cr220 Cr241 Cr263 Cr
Cash & bank34 Cr15 Cr15 Cr33 Cr73 Cr67 Cr47 Cr39 Cr65 Cr
Other assets54 Cr116 Cr94 Cr155 Cr94 Cr95 Cr74 Cr64 Cr37 Cr
Total assets492 Cr575 Cr469 Cr529 Cr611 Cr649 Cr581 Cr587 Cr630 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricDec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from operating activity-13 Cr—58 Cr118 Cr-7 Cr40 Cr5 Cr16 Cr43 Cr
Cash from investing-3 Cr—-37 Cr-55 Cr56 Cr-34 Cr-30 Cr-6 Cr-10 Cr
Cash from financing28 Cr—-22 Cr-16 Cr-9 Cr8 Cr5 Cr-18 Cr-7 Cr
Net cash flow12 Cr—0.15 Cr47 Cr40 Cr15 Cr-20 Cr-8 Cr25 Cr
Free cash flow (OCF − Capex)-30 Cr—47 Cr118 Cr-31 Cr-29 Cr-28 Cr8 Cr31 Cr

Ratios

MetricDec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
ROCE %-4.2%-0.0%6.6%29.7%4.7%10.8%-5.8%6.6%5.8%
ROE %-4.3%-3.3%6.2%22.6%3.2%9.7%-5.7%4.7%4.1%
Debtor days1081069210911410597100108
Inventory days8582689310466667377
Days payable7811377101131102747389
Cash conversion cycle11575841018669899996
OCF / EBITDA %n.m.—n.m.522.2%-31.1%n.m.n.m.45.0%107.7%
OCF / EBITDA % (3 years)————257.1%n.m.n.m.n.m.75.0%
Debt / equity0.120.180.12——0.060.050.0030—
Current ratio2.121.652.112.902.312.302.222.552.42
Net debt / EBITDA0.09—1.00-1.47-3.18-2.10-2.81-1.04-1.63