D-Link (India) Ltd. (DLINKINDIA) AI Stock Analysis

• Market Cap: ₹14.52B
• Dividend Yield: 5.12%
• Average Volume (3M): 3.45K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 1.72
• Revenue Growth: 8.30%
• EPS Growth: 10.23%
• Country: IN
• Employees: 249
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): 7.15
• Shares Outstanding: 35,504,850
• 10 Day Avg. Volume: 3,671
• 30 Day Avg. Volume: 3,452
• PEG Ratio: 1.11
• Price to Book (P/B): 3.07
• Price to Sales (P/S): 1.05
• P/FCF Ratio: 16.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ₹450.00 ▲(4.55% Upside)

D-Link (India) Ltd. shows strong financial performance with consistent revenue growth and effective cost management. The stock's valuation is reasonable, supported by a solid dividend yield. However, technical indicators suggest a bearish trend, which tempers the overall score.

Positive Factors

Sustained Revenue Growth

Multi-year revenue expansion demonstrates durable demand for networking products and successful market penetration across consumer and enterprise channels. Sustained top-line growth supports scale advantages, predictable revenue streams, and ability to invest in R&D or distribution over the next 2–6 months.

Strong Free Cash Flow Generation

A large increase in free cash flow indicates efficient capital management and internal funding capacity for capex, product development, or dividends. Robust FCF provides resilience against cyclical downturns and affords strategic optionality over the medium term.

Very Low Leverage and High ROE

Minimal leverage reduces financial risk and interest burden while a high ROE shows efficient profit generation on equity. This balance supports sustainable operations, flexibility to pursue growth or M&A, and stronger credit resilience over coming quarters.

Negative Factors

Declining Operating Cash Flow Trend

A falling operating cash flow trend, despite strong FCF year-on-year, can signal weakening core cash conversion or working capital pressure. If sustained, it may constrain reinvestment, increase reliance on divestments or financing, and limit operational flexibility.

High Cash Holdings May Be Underutilized

Large cash balances without clear deployment can indicate suboptimal capital allocation, diluting long-term shareholder returns. Over time, idle cash may reflect missed opportunities to upgrade products, expand channels, or return capital more effectively.

Modest Profit Margins

Relatively low gross and net margins in a hardware-driven industry limit the firm's ability to absorb cost shocks and fund innovation. Persistently modest margins can pressure free cash flow and curb strategic investments, making margin expansion critical for durable competitiveness.

D-Link (India) Ltd. Business Overview & Revenue Model

Company Description

D-Link (India) Limited markets and distributes D-Link branded networking products for consumers, small businesses, medium to large-sized enterprises, and service providers in India. The company offers home networking products, such as Wi-Fi systems, routers, range extenders, adapters, switches, DSL modems and routers, and mobile Wi-Fi hotspots; home cameras, CCTV solutions, smart plugs, and sensors; USB hubs; smart home eco systems; and cloud services. It also provides core and edge routers; chassis, cloud managed, unmanaged, smart managed, fully managed, and industrial switches, as well as switch accessories; and video management software, and related accessories. In addition, the company offers point-to-point/multipoint, software managed, and controller managed access points, as well as wireless controllers; VPN routers; copper, fiber, and structured cabling solutions; and optical transport network accessories and switches. Further, it provides nuclias cloud, a cloud-based networking solution; and nuclias connect, a network management solution. The company was formerly known as Smartlink Network Systems Limited. D-Link (India) Limited was incorporated in 2008 and is headquartered in Mumbai, India. D-Link (India) Limited is a subsidiary of D-Link Holding Mauritius Inc.

How the Company Makes Money

D-Link (India) Ltd. generates revenue primarily through the sale of its networking and connectivity products. The company's key revenue streams are derived from the sales of routers, switches, and other networking devices. D-Link India also benefits from partnerships with various distributors and retailers, enabling them to reach a broader customer base across India. Additionally, the company leverages its brand reputation and technological expertise to offer value-added services and support, enhancing customer satisfaction and fostering long-term business relationships.

D-Link (India) Ltd. Financial Statement Overview

Summary

D-Link (India) Ltd. has demonstrated strong revenue growth and stable profit margins, reflecting robust market demand and effective cost management. The company's low debt-to-equity ratio and strong cash flow position further underscore its financial health, although careful management of cash resources is advised.

Income Statement

D-Link (India) Ltd. has demonstrated strong revenue growth with a consistent upward trajectory from INR 7.26 billion in 2021 to INR 13.84 billion in 2025, reflecting robust market demand. The gross profit margin has been stable, averaging around 15.8% over the years, indicating effective cost management. The net profit margin has improved, reaching 7.5% in 2025, signifying enhanced operational efficiency. EBIT and EBITDA margins also show strength, contributing to a solid financial performance.

Balance Sheet

The company's financial position is strong, evidenced by a low debt-to-equity ratio of 0.01 in 2025, pointing to minimal leverage risk. The return on equity (ROE) stood at 21.9% in 2025, showcasing efficient use of equity capital to generate profits. An equity ratio of 63.6% indicates a healthy balance of debt and equity, providing financial stability. However, the relatively high cash holdings suggest potential underutilization of resources.

Cash Flow

D-Link (India) Ltd. has shown a strong cash flow position, with free cash flow growing by 78.3% from 2024 to 2025, indicating effective capital management. The operating cash flow to net income ratio of 0.86 in 2025 reflects efficient conversion of net income into cash, supporting liquidity. However, a declining trend in operating cash flow since 2024 could be a potential concern if not addressed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.88B	13.84B	12.35B	11.81B	9.18B	7.26B
Gross Profit	2.09B	2.19B	1.50B	1.97B	1.18B	1.22B
EBITDA	1.48B	1.47B	1.31B	1.22B	625.94M	486.31M
Net Income	1.05B	1.04B	926.30M	863.61M	422.88M	313.49M
Balance Sheet
Total Assets	0.00	7.48B	6.95B	6.29B	5.13B	4.31B
Cash, Cash Equivalents and Short-Term Investments	2.49B	2.49B	2.20B	1.31B	1.35B	1.10B
Total Debt	0.00	41.90M	76.73M	100.78M	35.72M	71.42M
Total Liabilities	-4.75B	2.73B	2.60B	2.51B	2.10B	1.65B
Stockholders Equity	4.75B	4.75B	4.35B	3.78B	3.03B	2.66B
Cash Flow
Free Cash Flow	0.00	897.14M	1.20B	50.22M	323.51M	742.70M
Operating Cash Flow	0.00	899.63M	1.21B	58.93M	334.93M	745.97M
Investing Cash Flow	0.00	-59.26M	-667.25M	-50.32M	-185.32M	-582.26M
Financing Cash Flow	0.00	-707.58M	-414.01M	-154.46M	-112.39M	-83.63M

D-Link (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 430.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DLINKINDIA, the sentiment is Negative. The current price of 430.4 is above the 20-day moving average (MA) of 416.41, above the 50-day MA of 429.65, and below the 200-day MA of 465.73, indicating a bearish trend. The MACD of -7.42 indicates Positive momentum. The RSI at 44.63 is Neutral, neither overbought nor oversold. The STOCH value of 38.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DLINKINDIA.

D-Link (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAKSOFT	72 Outperform	₹24.38B	18.68	―	0.42%	21.17%	27.66%
DLINKINDIA	70 Outperform	₹14.52B	14.01	―	5.12%	8.30%	10.23%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
KELLTONTEC	58 Neutral	₹8.81B	9.50	―	―	13.11%	19.26%
IKIO	54 Neutral	₹13.13B	67.82	―	0.55%	11.73%	-64.05%
MOLDTECH	54 Neutral	₹3.96B	136.78	―	0.63%	-17.65%	-89.27%
NELCO	54 Neutral	₹16.04B	374.21	―	0.13%	-7.50%	-79.50%

D-Link (India) Ltd. Corporate Events

D-Link (India) Limited Publishes Financial Results in Leading Newspapers

D-Link (India) Limited has announced the publication of its financial results in several newspapers, including the Financial Express, Pudhari, and the Navhind Times, as of November 6, 2025. This dissemination of financial information is aimed at ensuring transparency and keeping stakeholders informed about the company’s financial performance.