Manufactures printing inks and lamination adhesives for B2B customers in industrial manufacturing and packaging sectors. As of 2021-12-31, the Inks segment generated ₹687.67 cr in revenue with EBIT of ₹17.25 cr, and Lamination Adhesive generated ₹57.16 cr with EBIT of ₹2.46 cr; a May 2026 filing describes the business as operating in a single segment — printing inks. For FY26, it reported total revenue of ₹891.79 cr and profit after tax of ₹17.38 cr (EPS ₹18.93), with Q4 FY26 alone delivering total revenue of ₹240.52 cr and PAT of ₹4.24 cr. Operations run through multiple factories — the COO was named Occupier of all factories — and the company is controlled by promoter DIC Asia Pacific Pte Ltd, part of Japan's DIC Corporation group. Recent leadership changes include the designation of Mr. Hayato Kashiwagi as Managing Director (effective September 1, 2026) and appointment of Ms. Manjusha Singh as Deputy CEO, with 25+ years of B2B sales experience in industrial manufacturing and packaging. Input costs are chemical- and petrochemical-based, in line with its Chemicals & Petrochemicals classification. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Inks (92%), Lamination Adhesive (8%). B2B chemicals manufacturer, subsidiary of Japanese parent DIC Corporation, operating primarily in printing inks
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | — | — | — | — | — |
| ROE % · ROCE % | — · — | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | — | — | — | — | — |
| Capex | — | — | — | — | — |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 221 | 219 | 210 | 226 | 223 | 232 | 241 | 284 |
| Profit before tax | 4 | 9 | 4 | 6 | 8 | 6 | 6 | 19 |
| Net profit | 2 | 7 | 3 | 4 | 6 | 5 | 4 | 14 |
| EPS (₹) | 2.16 | 7.79 | 2.82 | 4.75 | 6.40 | 4.96 | 4.62 | 15.54 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.0 | 20.9 | 91 of 211 | 57% |
| P/B | 1.2 | 2.2 | 58 of 201 | 72% |
| ROCE | 5.5 | 8.2 | 138 of 225 | 39% |
| ROE | 4.2 | 7.2 | 140 of 212 | 34% |
| Debt / Equity | 0.0 | 0.2 | 12 of 212 | 80% |
| EBITDA margin | 8.5 | 14.0 | 142 of 201 | 30% |
| Revenue growth | 25.4 | 17.2 | 69 of 194 | 65% |
| Profit growth | 227.1 | 41.9 | 30 of 202 | 86% |
| Market cap | 551 | 401 | 104 of 222 | 53% |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · DIC India postal ballot notice for MD and Director appointments | compliance | minimal | — | — |
| 1 Sept 2026 · Mr. Hayato Kashiwagi commences 3-year tenure as MD of DIC India | management changes | high | — | — |
| 31 Aug 2026 · Postal ballot: Appointment of MD and Whole Time Director | board shareholder meetings | low | — | — |
| 29 Aug 2026 · DIC India MD and CEO Manish Bhatia ceases office effective Aug 29, 2026 | management changes | critical | — | — |
| 29 Aug 2026 · MD and CEO Manish Bhatia's resignation effective Aug 29, 2026 | management changes | high | — | — |
| 29 Aug 2026 · DIC India MD and CEO Manish Bhatia resigns, effective Aug 29 | management changes | critical | — | — |
| 14 Aug 2026 · Newspaper ad of DIC India Q1 FY27 results and share transfer window | compliance | minimal | — | — |
| 12 Aug 2026 · Q1 FY26: Revenue up 25%, PAT more than triples | results | high | — | — |
| 5 Aug 2026 · Board meeting on Aug 12, 2026 to approve Q1 FY27 results | results | low | — | — |
| 15 Jul 2026 · DIC India names Kashiwagi as MD, Asthana as Whole Time Director | management changes | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
