DIC India Ltd.

•

dic.co.inBSE: 500089NSE: DICIND

Market Cap₹ 524 Cr.

Current Price

High / Low₹ 631 / 450

Stock P/E18.1

Book Value₹ 484

Price to Book1.03

Dividend Yield0.53 %

ROCE5.9 %

ROE4.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 227.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.52x)
Company generates healthy free cash flow

CONS

Company has a low return on capital employed of 2.3%
Company has a low return on equity of 1.1% over last 3 years
A large part of profit comes from other income (25.7% of PBT)
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	20550.00	93.38	185957.06	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1636.40	62.88	166565.83	1.31	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2597.00	35.61	76981.53	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4731.25	84.51	51972.78	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8538.25	55.47	43808.15	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1138.55	32.62	38352.18	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1733.65	30.19	23645.78	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1646.05	92.89	21847.67	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6484.40	24.00	19091.21	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	505.45	34.53	18334.02	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1417.10	18.24	17949.40	0.71	490.04	100.95	3256.26	22.47	12.12	25.96
12.	DICIND	571.40	23.76	524.49	0.53	14.27	227.25	283.96	25.76	5.94	7.90

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	207	216	204	197	242	220	218	209	226	222	231	240	284
	206	212	205	190	231	214	210	203	217	211	220	232	266
Operating Profit	2	-31	-12	8	12	7	11	7	9	12	7	9	22
OPM %	0.90%	-14.44%	-5.63%	4.17%	4.80%	3.31%	4.94%	3.24%	4.15%	5.28%	3.07%	3.61%	7.90%
Other Income	1	1	2	1	2	2	5	1	1	1	2	2	2
Interest	1	1	1	0	0	0	1	0	0	0	0	0	0
Depreciation	5	5	5	5	5	5	5	4	4	5	5	5	5
	-3	-18	-8	4	8	4	9	4	6	8	6	6	19
Tax %	18.21%	24.01%	12.33%	6.46%	25.72%	46.65%	23.28%	26.42%	27.21%	25.98%	26.45%	26.82%	25.58%
Net Profit	-3	-14	-7	4	6	2	7	3	4	6	5	4	14
	-3	-15	-8	5	7	2	8	3	5	6	5	5	2
Equity Capital	9	9	9	9	9	9	9	9	9	9	9	9	9
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Dec 2024	Dec 2025	TTM
	829	882	892	977
	819	845	852	930
Operating Profit	18	46	46	—
OPM %	2	5	5	—
Other Income	8	10	6	7
Interest	4	2	1	2
Depreciation	18	19	18	19
	-28	26	24	39
Tax %	20	25	27	26
Net Profit	-23	20	17	29
EPS	-25	21	19	—
Dividend Payout %	0	19	16	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	-25	21	19	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 0%
5 Years:: 6%
3 Years:: 7%
1 Year:: -2%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 1%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Dec 2024	Dec 2025
LIABILITIES	-	-	-
Equity Capital	9	9	9
	387	406	419
	15	0	0
Trade Payables	117	119	145
	86	91	104
Total Liabilities	614	626	677
ASSETS	-	-	-
	143	141	138
Capital Work in Progress	15	4	1
	104	119	126
	220	241	263
Cash & Bank	47	39	65
	84	81	84
Total Assets	614	626	677
Total Debt	15	0	0
Net Working Capital	218	258	277
Contingent Liabilities	16	10	16
Book Value per Share	431.77	452.39	466.99
Face Value	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Dec 2024	Dec 2025
	5	16	43
Cash from Investing	-30	-6	-10
Cash from Financing	5	-18	-7
	-20	-8	25
Free Cash Flow	5	16	33
OCF / Net Profit	-0.23	0.84	2.46
Cumulative 5-Year FCF	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Dec 2024	Dec 2025
PER SHARE
EPS (₹)	-24.70	21.29	18.93
Book Value (₹)	431.77	452.39	466.99
Dividend per Share (₹)	0.00	4.00	3.00
Cash EPS (₹)	-4.86	42.08	38.94
PROFITABILITY
Operating Margin %	1.16%	4.08%	4.33%
Net Margin %	-2.70%	2.19%	1.90%
ROE %	-5.54%	4.82%	4.12%
ROCE %	-5.78%	6.69%	5.94%
	-3.48%	3.15%	2.67%
EFFICIENCY
Debtor Days	102	94	100
Inventory Days	47	46	49
Payable Days	83	66	73
	66	74	76
FINANCIAL HEALTH
Debt to Equity (x)	0.04x	0.00x	0.00x
Interest Coverage (x)	-5.80x	15.73x	17.69x
	2.22x	2.53x	2.42x
GROWTH
Revenue Growth %	-4.95%	6.36%	1.16%
Operating Profit Growth %	-37.02%	156.84%	-0.44%
Net Profit Growth %	-155.33%	186.17%	-11.07%
	-155.33%	186.17%	-11.07%
VALUATION
P/E (x)	0.00x	31.29x	25.32x
P/B (x)	1.14x	1.47x	1.03x
Dividend Yield %	0.00%	0.60%	0.63%
	23.54x	12.44x	8.19x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.75	71.75	71.75	71.75	71.75	71.75	71.75	71.75	71.75
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	28.24	28.24	28.25	28.25	28.25	28.25	28.25	28.25	28.25

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - DIC India Limited has informed the Exchange about Copy of Newspaper Publication.

2026-09-01

General Updates

2026-09-01 - DIC India Limited has informed the Exchange about the commencement of tenure of Mr. Hayato Kashiwagi as Managing Driector w.e.f. September 01, 2026.

2026-08-31

Shareholders meeting

2026-08-31 - DIC India Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-29

Resignation of Director/KMP/SMP

2026-08-29 - DIC India Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-29

Resignation of Director/KMP/SMP

2026-08-29 - DIC India Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-29

Resignation

2026-08-29 - DIC India Limited has filed the detailed resignation received from Mr. Manish Bhatia and he ceases to be the Director, MD & CEO of the Company w.e.f close of business hours of August 29, 2026.

2026-08-14

Copy of Newspaper Publication

2026-08-14 - DIC India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Outcome of Board Meeting

2026-08-12 - DIC India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-15

Appointment

2026-07-15 - DIC India Limited has informed the Exchange regarding Appointment of Mr PRAVEEN KUMAR ASTHANA as additional Director in the category of Whole Time Director of the company w.e.f. July 15, 2026.

News

Recent coverage and analyst commentary for DICIND

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DIC India Ltd.

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Name

SOLARINDS

20550.00

93.38

185957.06

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1636.40

62.88

166565.83

1.31

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2597.00

35.61

76981.53

0.35

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4731.25

84.51

51972.78

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8538.25

55.47

43808.15

0.18

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1138.55

32.62

38352.18

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1733.65

30.19

23645.78

0.43

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1646.05

92.89

21847.67

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6484.40

24.00

19091.21

0.46

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

505.45

34.53

18334.02

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1417.10

18.24

17949.40

0.71

490.04

100.95

3256.26

22.47

12.12

25.96

DICIND

571.40

23.76

524.49

0.53

14.27

227.25

283.96

25.76

5.94

7.90

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

207

216

204

197

242

220

218

209

226

222

231

240

284

206

212

205

190

231

214

210

203

217

211

220

232

266

Operating Profit

-31

-12

OPM %

0.90%

-14.44%

-5.63%

4.17%

4.80%

3.31%

4.94%

3.24%

4.15%

5.28%

3.07%

3.61%

7.90%

Other Income

Interest

Depreciation

-3

-18

-8

Tax %

18.21%

24.01%

12.33%

6.46%

25.72%

46.65%

23.28%

26.42%

27.21%

25.98%

26.45%

26.82%

25.58%

Net Profit

-3

-14

-7

-3

-15

-8

Equity Capital

Reserves

Promoter Pledge %

0.00%

Dec 2023

Dec 2024

Dec 2025

TTM

829

882

892

977

819

845

852

930

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

-28

Tax %

Net Profit

-23

EPS

-25

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-25

—

Dec 2023

Dec 2024

Dec 2025

LIABILITIES

Equity Capital

387

406

419

Trade Payables

117

119

145

104

Total Liabilities

614

626

677

ASSETS

143

141

138

Capital Work in Progress

104

119

126

220

241

263

Cash & Bank

Total Assets

614

626

677

Total Debt

Net Working Capital

218

258

277

Contingent Liabilities

Book Value per Share

431.77

452.39

466.99

Face Value

10.00

Dec 2023

Dec 2024

Dec 2025

Cash from Investing

-30

-6

-10

Cash from Financing

-18

-7

-20

-8

Free Cash Flow

OCF / Net Profit

-0.23

0.84

2.46

Cumulative 5-Year FCF

Dec 2023

Dec 2024

Dec 2025

PER SHARE

EPS (₹)

-24.70

21.29

18.93

Book Value (₹)

431.77

452.39

466.99

Dividend per Share (₹)

0.00

4.00

3.00

Cash EPS (₹)

-4.86

42.08

38.94

PROFITABILITY

Operating Margin %

1.16%

4.08%

4.33%

Net Margin %

-2.70%

2.19%

1.90%

ROE %

-5.54%

4.82%

4.12%

ROCE %

-5.78%

6.69%

5.94%

-3.48%

3.15%

2.67%

EFFICIENCY

Debtor Days

102

100

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.04x

0.00x

Interest Coverage (x)

-5.80x

15.73x

17.69x

2.22x

2.53x

2.42x

GROWTH

Revenue Growth %

-4.95%

6.36%

1.16%

Operating Profit Growth %

-37.02%

156.84%

-0.44%

Net Profit Growth %

-155.33%

186.17%

-11.07%

-155.33%

186.17%

-11.07%

VALUATION

P/E (x)

0.00x

31.29x

25.32x

P/B (x)

1.14x

1.47x

1.03x

Dividend Yield %

0.00%

0.60%

0.63%

23.54x

12.44x

8.19x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.75

FIIs

0.00

DIIs

0.00

Government

0.00

28.24

28.25

DIC India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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DIC India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI