D-Link (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2015 • Trading: 97.6% • Software: 2.4%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good profit growth of 27.1% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 30.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.3%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 16.6% CAGR over last 5 years
CONS
- Dividend payout exceeds earnings (114.3%) - may be unsustainable
- Growth is decelerating - 3Y profit CAGR (6.4%) trails the 5Y trend (27.1%)
- Expensive relative to growth - PEG of 2.3
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLINKINDIA | 444.75 | 14.72 | 1579.08 | 7.53 | 27.61 | 13.26 | 456.96 | 30.50 | 28.82 | 7.61 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 300 | 308 | 294 | 334 | 346 | 337 | 331 | 370 | 350 | 377 | 395 | 444 | 457 | |
| 273 | 278 | 265 | 303 | 318 | 304 | 298 | 337 | 321 | 344 | 361 | 409 | 425 | |
| Operating Profit | 27 | 30 | 29 | 31 | 28 | 33 | 33 | 32 | 29 | 33 | 35 | 35 | 32 |
| OPM % | 8.96% | 9.86% | 9.91% | 9.29% | 8.17% | 9.77% | 10.08% | 8.78% | 8.38% | 8.75% | 8.74% | 7.90% | 7.10% |
| 3 | 3 | 4 | 4 | 5 | 4 | 4 | 6 | 5 | 4 | 4 | 4 | 5 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 28 | 32 | 31 | 34 | 32 | 35 | 36 | 37 | 33 | 34 | 36 | 37 | 37 |
| Tax % | 25.46% | 25.53% | 25.51% | 25.16% | 25.61% | 24.41% | 25.44% | 25.96% | 25.63% | 26.16% | 26.02% | 25.03% | 25.73% |
| Net Profit | 0 | 0 | 0 | 0 | 24 | 27 | 27 | 27 | 24 | 25 | 27 | 28 | 28 |
| 5.90 | 6.66 | 6.46 | 7.07 | 6.65 | 7.53 | 7.47 | 7.73 | 6.87 | 7.15 | 7.52 | 7.77 | 7.78 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 707 | 644 | 716 | 740 | 727 | 918 | 1,181 | 1,236 | 1,384 | 1,566 | 1,673 | |
| 681 | 625 | 670 | 698 | 685 | 862 | 1,066 | 1,118 | 1,257 | 1,434 | 1,538 | |
| Operating Profit | 25 | 18 | 46 | 42 | 42 | 56 | 115 | 117 | 127 | 132 | 135 |
| OPM % | 3.59% | 2.83% | 6.42% | 5.72% | 5.76% | 6.11% | 9.74% | 9.50% | 9.18% | 8.43% | 8.07% |
| 2 | 3 | -3 | 14 | 7 | 7 | 7 | 14 | 20 | 17 | 16 | |
| Interest | 1 | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 1 | 1 | 6 | 5 | 5 | 5 | 6 | 7 | 7 | 7 |
| Profit before Tax | 25 | 19 | 41 | 50 | 42 | 57 | 116 | 124 | 140 | 140 | 144 |
| Tax % | 34.43% | 32.87% | 36.04% | 28.86% | 26.06% | 25.68% | 25.64% | 25.41% | 25.36% | 25.71% | 25.73% |
| Net Profit | 17 | 13 | 26 | 35 | 31 | 42 | 86 | 93 | 104 | 104 | 107 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 8.83 | 11.91 | 24.32 | 26.09 | 29.37 | 29.31 | — |
| Dividend Payout % | 10.65% | 13.99% | 13.43% | 15.12% | 20.39% | 25.19% | 41.11% | 49.83% | 68.11% | 114.30% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 17%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 16%
- 5 Years:
- 27%
- 3 Years:
- 6%
STOCK PRICE CAGR
- 10 Years:
- 18%
- 5 Years:
- 26%
- 3 Years:
- 8%
- 1 Year:
- -10%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 21%
- 3 Years:
- 22%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| 167 | 178 | 203 | 231 | 259 | 296 | 371 | 428 | 468 | 499 | |
| 12 | 0 | 0 | 6 | 3 | 1 | 7 | 3 | 2 | 9 | |
| Trade Payables | 75 | 119 | 120 | 123 | 150 | 199 | 231 | 242 | 257 | 272 |
| 23 | 29 | 38 | 49 | 59 | 74 | 105 | 139 | 172 | 216 | |
| Total Liabilities | 283 | 334 | 368 | 417 | 479 | 576 | 721 | 818 | 906 | 1,004 |
| 34 | 33 | 32 | 42 | 38 | 34 | 40 | 38 | 34 | 45 | |
| 0 | 4 | 7 | 22 | 49 | 83 | 93 | 158 | 168 | 136 | |
| 65 | 64 | 83 | 99 | 91 | 98 | 140 | 82 | 77 | 104 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 339 | 366 | 443 | |
| Cash & Bank | 4 | 19 | 17 | 20 | 62 | 53 | 37 | 62 | 81 | 66 |
| 181 | 213 | 229 | 235 | 240 | 309 | 411 | 139 | 180 | 209 | |
| Total Assets | 283 | 334 | 368 | 417 | 479 | 576 | 721 | 818 | 906 | 1,004 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -8 | 43 | 17 | 41 | 85 | 48 | 36 | 121 | 90 | 15 | |
| Cash from Investing | 4 | -6 | -6 | -19 | -58 | -19 | -5 | -67 | -6 | 66 |
| Cash from Financing | -4 | -3 | -2 | -11 | -8 | -11 | -15 | -41 | -71 | -81 |
| -18 | 25 | -5 | -2 | 8 | 4 | -15 | 12 | 13 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - D-Link (India) Limited has informed the Exchange about change in Management
2026-08-27 - D-Link (India) Limited has informed the Exchange about Retirement
2026-08-24 - D-Link (India) Limited has informed the Exchange regarding Appointment of as Non- Executive Independent Director of the company w.e.f. August 26, 2026.
2026-08-24 - D-Link (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 24, 2026.
2026-08-11 - D-Link (India) Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 10, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-10 - D-Link (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 10, 2026
2026-08-03 - D-Link (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-01 - D-Link (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-20 - D-Link (India) Limited has informed the Exchange about Shareholders Intimation for web-link of the Annual Report
News
Recent coverage and analyst commentary for DLINKINDIA
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