NSE: DOMS · BSE: 544045
DOMS INDUSTRIES LIMITED
Makes and sells branded stationery products across India, generating ₹2,326.4 crores in FY26, up 21.6% year-on-year. The Stationery Products segment accounts for 91.3% of revenue and covers pencils, pens, mechanical pencils, highlighters, pencil boxes, school bags, stamp pads, and scholastic and art stationery. The Hygiene Products segment (Uniclan, baby hygiene) contributed 8.7% of revenue, with management targeting 20% growth and a 10% EBITDA margin over time. In July 2026, the company completed the acquisition of the Reynolds pen business from Reynolds Pens India, adding pens, markers, highlighters, and school supplies to the portfolio. A small new brand, SKIDO, posted ₹4.5 crores in Q4 revenue, up 60% year-on-year. The company is significantly expanding capacity with a 45-acre integrated facility under construction, new land acquisitions in Umargam and Jammu, and a joint venture with Italian F.I.L.A. Group in progress. Raw materials are the biggest cost at 53.9% of revenue, with about 40% of the input basket crude-linked; West Asia tensions drove 15-20% raw material inflation in FY26, against only 4-5% price increases taken so far, putting near-term margins under pressure. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Stationery Products (91%), Hygiene Products (9%), Reynolds brand (recently acquired), SKIDO (new brand). Branded FMCG stationery in a heavy capex expansion phase, with a small but growing baby hygiene side-business
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,537 | 1,913 | 2,326 |
| EBITDA (ex other income) | 273 | 348 | 403 |
| margin % | 17.7 | 18.2 | 17.3 |
| Owners' profit | 153 | 202 | 230 |
| EPS, as reported (₹) | 27.75 | 33.34 | 37.93 |
| ROE % · ROCE % | 19.0 · 23.5 | 19.7 · 23.9 | 18.4 · 23.5 |
| Debt / equity (x) | 0.14 | 0.14 | 0.07 |
| Cash from operations | 183 | 183 | 254 |
| Capex | (153) | (210) | (281) |
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 | 458 | 501 | 509 | 562 | 568 | 592 | 604 | 671 |
| Profit before tax | 72 | 73 | 69 | 79 | 82 | 82 | 79 | 61 |
| Net profit | 54 | 54 | 51 | 59 | 61 | 61 | 58 | 45 |
| EPS (₹) | 8.84 | 8.94 | 7.98 | 9.44 | 9.60 | 9.54 | 9.35 | 7.33 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Stationery Products | 2,124 | 91.3 |
| Hygiene Products | 203 | 8.7 |
| Total, before eliminations | 2,327 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DOMS INDUSTRIES LIMITED ◆ | 11,318 | 52.1 | 8.69 | 27.0 | 18.4 | 22.7 | — | 12.9 |
| NAVNEET EDUCATION LTD | 2,664 | 7.1 | 126.94 | 481.8 | 17.6 | 20.2 | (54.0) | 27.5 |
| FLAIR WRITING INDUST LTD | 2,457 | 17.6 | 2.15 | 10.1 | 12.4 | 15.4 | — | 17.1 |
| KOKUYO CAMLIN LIMITED | 724 | — | 2.91 | 17.0 | 6.1 | 8.0 | — | — |
| LINC LIMITED | 582 | 18.5 | 2.24 | 8.5 | 12.7 | 17.4 | — | 9.0 |
| ALKOSIGN LIMITED | 69 | 5.8 | — | — | — | 4.9 | — | — |
| KSHITIJ POLYLINE LIMITED | 51 | 13.4 | 0.81 | 8.5 | 6.1 | 6.1 | — | 12.4 |
| SUNDARAM MULTI PAP LTD | 50 | — | 0.52 | 5.2 | (0.1) | (0.1) | — | 21.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 52.1 | 15.5 | 6 of 6 | 0% |
| P/B | 8.7 | 2.2 | 7 of 8 | 14% |
| ROCE | 22.7 | 8.0 | 1 of 9 | 100% |
| ROE | 18.4 | 9.3 | 1 of 8 | 100% |
| Debt / Equity | 0.1 | 0.2 | 4 of 8 | 57% |
| EBITDA margin | 12.9 | 15.0 | 4 of 6 | 40% |
| Revenue growth | 19.3 | 6.0 | 2 of 6 | 80% |
| Profit growth | (23.4) | (4.9) | 6 of 6 | 0% |
| Market cap | 11318 | 582 | 1 of 9 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting set for November 2 to approve September-quarter results | results | low | — | — |
| 23 Oct 2026 · DOMS incorporates wholly owned back-to-school bags subsidiary | strategic transactions | low | — | — |
| 6 Oct 2026 · RTA certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · DOMS extends India JV deadline with Seven SpA to January 2027 | strategic transactions | medium | — | — |
| 26 Sept 2026 · Trading Window Closure for Q2 FY27 Results | compliance | minimal | — | — |
| 3 Sept 2026 · DOMS Industries 20th AGM results: all 6 resolutions passed | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · DOMS Industries AGM: All 6 resolutions passed; final dividend approved | board shareholder meetings | low | — | — |
| 3 Sept 2026 · DOMS 20th AGM held via VC; all six resolutions passed with strong majority | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · DOMS MD shares FY26 results, flags margin pressure ahead | investor communications | medium | — | — |
| 3 Sept 2026 · MD highlights FY26 results, flags margin pressure, eyes high-teen growth | investor communications | medium | — | — |
How to read this document
| 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 |
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.