Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · DIC INDIA LIMITED · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
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
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · standalone
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
—
—
—
—
—
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DIC INDIA LIMITED · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ 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
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
17.1
21.2
74 of 197
63%
P/B
1.1
2.1
58 of 202
72%
ROCE
5.5
8.1
134 of 220
39%
ROE
4.2
7.3
135 of 202
33%
Debt / Equity
0.0
0.2
2 of 202
84%
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
496
384
102 of 225
55%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DIC INDIA LIMITED · 28 October 2026Page 3 of 3
Exhibit 4: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
27 Oct 2026 · Board meeting set for September 2026 results
results
low
—
—
24 Oct 2026 · DIC India provides update on transfer pricing adjustment matter
regulatory legal
medium
—
—
15 Oct 2026 · Income Tax survey conducted at DIC India registered office
regulatory legal
medium
—
—
15 Oct 2026 · CRISIL Reaffirms DIC India Credit Rating at A/Stable
credit debt
medium
—
—
7 Oct 2026 · Quarterly dematerialisation certificate filed with exchanges
compliance
minimal
—
—
2 Oct 2026 · DIC India: Postal Ballot Results, Director Appointments and Share Transfer Window
compliance
minimal
—
—
2 Oct 2026 · Tax dispute update: DRP rejects most objections on transfer pricing
regulatory legal
high
—
—
30 Sept 2026 · DIC India approves Kashiwagi as MD and Asthana as Whole Time Director
management changes
medium
—
—
30 Sept 2026 · DIC India appoints Hayato Kashiwagi as MD for 3 years
management changes
high
—
—
30 Sept 2026 · DIC India postal ballot: Kashiwagi as MD and Asthana as WTD approved
board shareholder meetings
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
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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
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Sources, method and disclosures
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
