Reported Earnings • May 15
First quarter 2026 earnings released: EPS: ₹4.62 (vs ₹2.82 in 1Q 2025) First quarter 2026 results: EPS: ₹4.62 (up from ₹2.82 in 1Q 2025). Revenue: ₹2.43b (up 15% from 1Q 2025). Net income: ₹42.4m (up 64% from 1Q 2025). Profit margin: 1.7% (up from 1.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • May 06
DIC India Limited to Report Q4, 2026 Results on May 13, 2026 DIC India Limited announced that they will report Q4, 2026 results on May 13, 2026 Upcoming Dividend • Mar 12
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 16 March 2026. Payment date: 22 April 2026. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.8%). Declared Dividend • Feb 26
Dividend reduced to ₹3.00 Dividend of ₹3.00 is 25% lower than last year. Ex-date: 16th March 2026 Payment date: 22nd April 2026 Dividend yield will be 0.6%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 79% to shift the payout ratio to a potentially unsustainable range, which is more than the 27% EPS decline seen over the last 5 years. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: ₹18.93 (vs ₹21.29 in FY 2024) Full year 2025 results: EPS: ₹18.93 (down from ₹21.29 in FY 2024). Revenue: ₹8.98b (up 1.2% from FY 2024). Net income: ₹173.8m (down 11% from FY 2024). Profit margin: 1.9% (down from 2.2% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Feb 23
High number of new directors Independent Director Avijit Mukerji was the last director to join the board, commencing their role in 2025. Aankondiging • Feb 17
DIC India Limited to Report Q4, 2025 Results on Feb 24, 2026 DIC India Limited announced that they will report Q4, 2025 results on Feb 24, 2026 Aankondiging • Nov 05
DIC India Limited to Report Q2, 2026 Results on Nov 13, 2025 DIC India Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Aankondiging • Aug 09
DIC India Limited to Report Q1, 2026 Results on Aug 13, 2025 DIC India Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • May 10
First quarter 2025 earnings released: EPS: ₹2.82 (vs ₹4.57 in 1Q 2024) First quarter 2025 results: EPS: ₹2.82 (down from ₹4.57 in 1Q 2024). Revenue: ₹2.12b (up 5.8% from 1Q 2024). Net income: ₹25.9m (down 38% from 1Q 2024). Profit margin: 1.2% (down from 2.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Aankondiging • May 01
DIC India Limited to Report Q1, 2025 Results on May 08, 2025 DIC India Limited announced that they will report Q1, 2025 results on May 08, 2025 Aankondiging • Feb 28
DIC India Limited, Annual General Meeting, Mar 25, 2025 DIC India Limited, Annual General Meeting, Mar 25, 2025. Aankondiging • Feb 23
DIC India Limited Appoints Hayato Kashiwagi as Additional Director (Non-Executive Non-Independent) Dic India Limited appointed Hayato Kashiwagi as Additional Director (Non-Executive Non-Independent) with effect from February 21, 2025. Mr. Kashiwagi is Regional Business Product Director of DIC Asia Pacific Pte Ltd. ("DICAP"), with overall responsibility for product growth across all operating entities of the Packaging and Graphic Division in the DICAP region. His 25-year career at DIC Corporation, the parent company of DICAP, covered multiple areas in sales and marketing, corporate management and international business. He brings with him a wealth of experience of working with Group companies in Japan, Asia Pacific and China region on various projects. He is also a Director of DIC Malaysia Sdn Bhd, PT DIC Graphics, DIC Philippines Inc, DIC Vietnam Co. Ltd, DIC Bangladesh Private Limited, DIC Australia Pty Ltd, DIC India Ltd., and DIC Lanka (Private) Limited. Mr. Kashiwagi has a Bachelor of Commerce from Doshisha University. Aankondiging • Feb 17
DIC India Limited to Report Q3, 2025 Results on Feb 21, 2025 DIC India Limited announced that they will report Q3, 2025 results on Feb 21, 2025 Aankondiging • Jan 02
DIC India Limited Announces Retirement of Utsab Choudhary as Chief Technology Officer DIC India Limited announced that Utsab Choudhary, Chief Technology Officer has retired with effect from close of business hours of December 31,2024 on reaching superannuation age and consequently cease to be senior managerial personnel. Aankondiging • Jan 01
DIC India Limited Announces Resignation of Mr. Ryohei Kohashi as Non-Executive Director DIC India Limited informed that Mr. Ryohei Kohashi, vide his resignation letter dated January 01, 2025 has tendered his resignation as a Non-Executive director of the Company with immediate effect that is January 01, 2025 due to personal and unavoidable circumstances. Aankondiging • Dec 31
Dic India Limited Appoints Kamakshi Christopher as Head Technology, Effective on January 01, 2025 DIC India Limited appointed Kamakshi Christopher as Head Technology . Date of Appointment is January 01, 2025. Dr. Kamakshi Christopher holds a Ph.D. in Applied Organic Chemistry from CLRI- CSIR and MSc in Applied Chemsistry from Anna University and has over 23 years of experience in research, innovation, and technology leadership across coatings, inks, and adhesives industries. At DIC India, she has been leading the flexible packaging and adhesives verticals and is actively involved in the innovation roadmap for DIC India. Aankondiging • Dec 04
DIC India Limited Announces Resignation of Rahul Bharat, Head - HR, Senior Management Personnel DIC India Limited announced that Mr. Rahul Bharat, Head - HR, Senior Management Personnel has tendered his resignation from the Company. The Company has accepted his resignation. Therefore, he will no longer be in the category of SMP with elect from December 04, 2024. However, his last working day will be March 03, 2025. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₹2.16 (vs ₹15.07 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹2.16 (up from ₹15.07 loss in 3Q 2023). Revenue: ₹2.23b (up 2.1% from 3Q 2023). Net income: ₹19.8m (up ₹158.2m from 3Q 2023). Profit margin: 0.9% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Aankondiging • Nov 07
DIC India Limited to Report Q2, 2025 Results on Nov 13, 2024 DIC India Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Aankondiging • Sep 24
DIC India Limited Appoints Mr. Jaydeep Sengupta as Senior Management Personnel, Effective September 24, 2024 DIC India Limited announced that Mr. Jaydeep Sengupta, Legal Counsel has been designated as Senior Management Personnel of the Company with effect from 24th September 2024. Mr. Jaydeep Sengupta has completed his LLB from Calcutta University. He has over 21 years of experience in Legal, predominantly in manufacturing companies like Nestle, PepsiCo & Johnson Mathey. Mr. Jaydeep has worked with Kellogg's India Private Limited as an Associate Director taking care of Asia, Middle East & Africa region. Aankondiging • Sep 16
DIC India Limited Appoints Meghna Saini as Company Secretary and Compliance Officer DIC India Limited announced that upon recommendation of the Nomination and Remuneration Committee & Audit Committee, the Board of Directors of the Company have appointed Ms. Meghna Saini as Company Secretary and Compliance Officer of DIC India Limited, with effect from September 16, 2024. Accordingly, Ms. Meghna Saini shall be a Key Managerial Personnel effective the said date. Brief Profile Company Secretary: ACS 42587, LLB. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₹6.76 (vs ₹2.80 loss in 2Q 2023) Second quarter 2024 results: EPS: ₹6.76 (up from ₹2.80 loss in 2Q 2023). Revenue: ₹2.45b (up 17% from 2Q 2023). Net income: ₹62.1m (up ₹87.8m from 2Q 2023). Profit margin: 2.5% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Aankondiging • Jul 31
DIC India Limited to Report Q1, 2025 Results on Aug 13, 2024 DIC India Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ₹4.57 (vs ₹0.99 in 1Q 2023) First quarter 2024 results: EPS: ₹4.57 (up from ₹0.99 in 1Q 2023). Revenue: ₹2.00b (flat on 1Q 2023). Net income: ₹42.0m (up 363% from 1Q 2023). Profit margin: 2.1% (up from 0.5% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 24
Full year 2023 earnings released: ₹24.70 loss per share (vs ₹44.65 profit in FY 2022) Full year 2023 results: ₹24.70 loss per share (down from ₹44.65 profit in FY 2022). Revenue: ₹8.37b (down 4.6% from FY 2022). Net loss: ₹226.8m (down 155% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 17
DIC India Limited to Report Q4, 2024 Results on Feb 22, 2024 DIC India Limited announced that they will report Q4, 2024 results on Feb 22, 2024 Aankondiging • Jan 11
DIC India Limited Announces Resignation of Masahiro Kikuchi as Director DIC India Limited announced that at its board meeting held on January 11, 2024, the Board took note of the resignation tendered by Mr. Masahiro Kikuchi who will step from the position of the Director of the Company with effect from January 11, 2024 due to change in assignment from DIC Corporation. Aankondiging • Oct 31
DIC India Limited to Report Q3, 2023 Results on Nov 09, 2023 DIC India Limited announced that they will report Q3, 2023 results on Nov 09, 2023 Aankondiging • Sep 08
DIC India Limited Announces Closure of Manufacturing Plant at Kolkata The board of directors of DIC India Limited made a decision to close the manufacturing plant of the Company located at Transport Deport Road, Kolkata- 700088. New Risk • Aug 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (₹4.46b market cap, or US$53.9m). New Risk • Aug 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 5.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (₹4.46b market cap, or US$53.9m). Reported Earnings • Aug 05
Second quarter 2023 earnings released: ₹2.80 loss per share (vs ₹37.03 profit in 2Q 2022) Second quarter 2023 results: ₹2.80 loss per share (down from ₹37.03 profit in 2Q 2022). Revenue: ₹2.09b (down 3.5% from 2Q 2022). Net loss: ₹25.7m (down 108% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: ₹0.99 (vs ₹2.50 in 1Q 2022) First quarter 2023 results: EPS: ₹0.99 (down from ₹2.50 in 1Q 2022). Revenue: ₹2.03b (up 1.0% from 1Q 2022). Net income: ₹9.07m (down 61% from 1Q 2022). Profit margin: 0.4% (down from 1.1% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Aankondiging • May 12
DIC India Limited Approves the Resignation of Taishi Nojima as Whole-Time Director DIC India Limited informed that the Board of Directors of the company in its meeting held on May 11, 2023. The board approved the resignation of Mr. Taishi Nojima as Whole-time Director. Reason for resignation is Consequent to the change of his deputation out of India, he has resigned effective from May 11, 2023. Board Change • Mar 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Adnan Ahmad was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 09
Full year 2022 earnings released: EPS: ₹44.65 (vs ₹13.50 in FY 2021) Full year 2022 results: EPS: ₹44.65 (up from ₹13.50 in FY 2021). Revenue: ₹8.80b (up 18% from FY 2021). Net income: ₹409.8m (up 231% from FY 2021). Profit margin: 4.7% (up from 1.7% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Aankondiging • Jan 20
DIC India Limited to Report Fiscal Year 2022 Results on Feb 08, 2023 DIC India Limited announced that they will report fiscal year 2022 results on Feb 08, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₹1.77 (vs ₹3.32 in 3Q 2021) Third quarter 2022 results: EPS: ₹1.77 (down from ₹3.32 in 3Q 2021). Revenue: ₹2.23b (up 17% from 3Q 2021). Net income: ₹16.3m (down 47% from 3Q 2021). Profit margin: 0.7% (down from 1.6% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non Executive Director Rajeev Anand was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: ₹1.77 (vs ₹3.32 in 3Q 2021) Third quarter 2022 results: EPS: ₹1.77 (down from ₹3.32 in 3Q 2021). Revenue: ₹2.26b (up 19% from 3Q 2021). Net income: ₹16.3m (down 47% from 3Q 2021). Profit margin: 0.7% (down from 1.6% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ₹37.03 (vs ₹1.93 in 2Q 2021) Second quarter 2022 results: EPS: ₹37.03 (up from ₹1.93 in 2Q 2021). Revenue: ₹2.18b (up 31% from 2Q 2021). Net income: ₹339.9m (up ₹322.2m from 2Q 2021). Profit margin: 16% (up from 1.1% in 2Q 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: ₹2.50 (vs ₹4.92 in 1Q 2021) First quarter 2022 results: EPS: ₹2.50 (down from ₹4.92 in 1Q 2021). Revenue: ₹2.03b (up 14% from 1Q 2021). Net income: ₹22.9m (down 49% from 1Q 2021). Profit margin: 1.1% (down from 2.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non Executive Director Rajeev Anand was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 07
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 14 March 2022. Payment date: 21 April 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.8%). Reported Earnings • Feb 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₹13.50 (down from ₹93.58 in FY 2020). Revenue: ₹7.54b (up 23% from FY 2020). Net income: ₹123.9m (down 86% from FY 2020). Profit margin: 1.6% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ₹1.93 (vs ₹81.79 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₹1.66b (up 41% from 2Q 2020). Net income: ₹17.7m (down 98% from 2Q 2020). Profit margin: 1.1% (down from 64% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Jun 18
First quarter 2021 earnings released: EPS ₹4.92 (vs ₹2.62 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₹1.77b (up 2.4% from 1Q 2020). Net income: ₹45.1m (up 88% from 1Q 2020). Profit margin: 2.5% (up from 1.4% in 1Q 2020). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₹468, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 17% over the past three years. Executive Departure • Mar 24
Independent Non-Executive Chairman of the Board Dipak Banerjee has left the company On the 21st of March, Dipak Banerjee's tenure as Independent Non-Executive Chairman of the Board ended after 3.8 years in the role. We don't have any record of a personal shareholding under Dipak's name. A total of 2 executives have left over the last 12 months. Executive Departure • Mar 23
Independent Non Executive Director has left the company On the 21st of March, Reena Sen's tenure as Independent Non Executive Director ended after 6.1 years in the role. We don't have any record of a personal shareholding under Reena's name. Reena is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Mar 04
New 90-day high: ₹439 The company is up 14% from its price of ₹386 on 04 December 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 11% over the same period. Upcoming Dividend • Mar 03
Upcoming Dividend of ₹6.00 Per Share Will be paid on the 18th of April to those who are registered shareholders by the 10th of March. The trailing yield of 1.5% is below the top quartile of Indian dividend payers (1.8%), but it is higher than industry peers (0.7%). Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ₹93.58 (vs ₹20.10 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₹6.11b (down 23% from FY 2019). Net income: ₹859.0m (up 366% from FY 2019). Profit margin: 14% (up from 2.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS ₹93.58 (vs ₹20.10 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₹6.16b (down 22% from FY 2019). Net income: ₹859.0m (up 366% from FY 2019). Profit margin: 14% (up from 2.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 29
New 90-day high: ₹406 The company is up 5.0% from its price of ₹386 on 30 September 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: ₹391 The company is up 4.0% from its price of ₹376 on 04 September 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS ₹3.65 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ₹1.56b (down 21% from 3Q 2019). Net income: ₹33.5m (up 479% from 3Q 2019). Profit margin: 2.2% (up from 0.3% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.