DIC India Limited (IN:DICIND)
:DICIND
Top Page
DIC India Limited
(DICIND)
Select Model
Select Model
Rating:56Neutral
Price Target:
₹497.00
▲(2.31% Upside)
Action:ReiteratedDate:03/28/26
The score is primarily supported by a conservatively capitalized balance sheet and improved recent cash generation, but is held back by thin/pressured margins and uneven revenue performance. Technical signals are weak with the stock trading below key moving averages and negative momentum indicators, and valuation looks only moderate given a 25.63 P/E and low dividend yield.
Positive Factors
Balance-sheet strength
Very low leverage and conservative capitalization provide durable financial flexibility: the company can fund working capital, absorb cyclical downturns in printing demand, and pursue selective investments without needing external debt. Positive ROE recovery (~4% in 2025) reduces solvency risk long-term.
Negative Factors
Thin and pressured margins
Very slim net and operating margins leave limited buffer to absorb raw-material price swings typical in pigment/resin markets. Persistent low margins constrain R&D, pricing power, and returns, making profitability sensitive to modest cost or volume headwinds over 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Very low leverage and conservative capitalization provide durable financial flexibility: the company can fund working capital, absorb cyclical downturns in printing demand, and pursue selective investments without needing external debt. Positive ROE recovery (~4% in 2025) reduces solvency risk long-term.
Read all positive factors
DIC India Limited (DICIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.43B
Dividend Yield0.82%
Average Volume (3M)625.00
Price to Earnings (P/E)25.6
Beta (1Y)0.51
Revenue Growth1.34%
EPS Growth283.51%
CountryIN
Employees347
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)4.96
Shares Outstanding9,178,977
10 Day Avg. Volume770
30 Day Avg. Volume625
Financial Highlights & Ratios
PEG Ratio-2.31
Price to Book (P/B)1.04
Price to Sales (P/S)0.50
P/FCF Ratio14.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
DIC India Limited Business Overview & Revenue Model
Company Description
DIC India Limited engages in the manufacture and sale of printing inks in India. It operates in two segments, Printing Inks and Lamination Adhesives. The company offers news, offset, gravure, flexographic, and specialty inks; lamination adhesives;...
How the Company Makes Money
DIC India Limited primarily makes money by manufacturing and selling printing inks and packaging inks to printers, converters, and brand/packaging supply chains. Revenue is generated through (1) sale of finished ink products (the core stream), typ...
DIC India Limited Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
83
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.92B | 8.92B | 8.78B | 8.26B | 8.68B | 7.42B |
| Gross Profit | 1.77B | 1.41B | 2.20B | 1.04B | 1.74B | 1.78B |
| EBITDA | 453.89M | 397.19M | 461.95M | -63.47M | 608.36M | 322.44M |
| Net Income | 179.29M | 173.77M | 195.39M | -226.76M | 409.84M | 123.89M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.30B | 5.87B | 5.81B | 6.49B | 6.11B |
| Cash, Cash Equivalents and Short-Term Investments | 397.97M | 646.55M | 391.82M | 469.68M | 670.74M | 727.66M |
| Total Debt | 0.00 | 64.80M | 34.33M | 196.84M | 240.45M | 54.49M |
| Total Liabilities | -4.15B | 2.02B | 1.72B | 1.85B | 2.27B | 2.25B |
| Stockholders Equity | 4.15B | 4.29B | 4.15B | 3.96B | 4.22B | 3.86B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 305.14M | 81.00M | -280.62M | -325.34M | -306.10M |
| Operating Cash Flow | 0.00 | 418.74M | 163.83M | 52.57M | 369.69M | -71.15M |
| Investing Cash Flow | 0.00 | -111.79M | -59.73M | -300.05M | -341.65M | 563.07M |
| Financing Cash Flow | 0.00 | -52.77M | -182.46M | 46.37M | -84.96M | -94.90M |
DIC India Limited Technical Analysis
Negative
485.80
Price Trends
524.12
Negative
510.93
Negative
548.79
Negative
Market Momentum
-5.73
Positive
40.49
Neutral
24.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DICIND, the sentiment is Negative. The current price of 485.8 is below the 20-day moving average (MA) of 516.79, below the 50-day MA of 524.12, and below the 200-day MA of 548.79, indicating a bearish trend. The MACD of -5.73 indicates Positive momentum. The RSI at 40.49 is Neutral, neither overbought nor oversold. The STOCH value of 24.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DICIND.
DIC India Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹6.35B | 11.68 | ― | 0.37% | 3.39% | 6.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹3.28B | 16.55 | ― | 1.53% | -2.17% | -5.39% | |
61 Neutral | ₹3.29B | 24.62 | ― | 2.90% | -1.72% | -19.99% | |
58 Neutral | ₹2.31B | 31.65 | ― | 0.56% | 10.57% | 59.22% | |
56 Neutral | ₹4.43B | 25.63 | ― | 0.82% | 1.34% | 283.51% | |
53 Neutral | ₹4.39B | 46.35 | ― | 0.63% | -5.05% | -57.82% |
* Basic Materials Sector Average
IN:DICIND
DIC India Limited
482.45
-164.95
-25.48%
IN:ASAHISONG
Asahi Songwon Colors Ltd.
196.20
-134.59
-40.69%
IN:PLASTIBLEN
Plastiblends India Limited
126.20
-51.16
-28.85%
IN:PREMIERPOL
Premier Polyfilm Limited
60.67
-2.21
-3.51%
IN:SUKHJITS
Sukhjit Starch & Chemicals Ltd.
140.65
-55.09
-28.14%
IN:VINYLINDIA
Vinyl Chemicals (India) Limited
179.35
-100.59
-35.93%
DIC India Limited Corporate Events
DIC India Holds Virtual AGM, Confirms Board Continuity With Director Reappointment
Mar 23, 2026
DIC India Limited held its 78th annual general meeting on March 23, 2026 via two-way video conferencing and other audio-visual means, in line with guidance from India’s corporate and securities regulators. The meeting saw the presence of key...
DIC India Announces Leadership Change in Sales and Marketing
Feb 2, 2026
DIC India Limited has announced a leadership change in its sales and marketing function, with long-time business-to-business sales specialist Ms. Manjusha Singh appointed as Head of Sales Marketing and designated as a Senior Managerial Person fro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.