Past 10 year’s financial track record analysis by Moneyworks4me indicates that DIC India Ltd is a below average quality company.
The key valuation ratios of DIC India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of DIC India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation Index Colour Code Guide ⓘ
| Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.5% | 11.2% | -4.1% | -0% | 6.7% | 31.7% | 4.7% | 11.9% | -5.8% | 6.7% | - |
| Value Creation Index ⓘ | 0.1 | -0.2 | -1.3 | -1.0 | -0.5 | 1.3 | -0.7 | -0.2 | -1.4 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 750 | 707 | 738 | 838 | 791 | 608 | 745 | 872 | 829 | 882 | 882 |
| Sales YoY Gr. | - | -5.6% | 4.4% | 13.5% | -5.6% | -23.1% | 22.5% | 17.1% | -5% | 6.4% | - |
| Adj EPS ⓘ | 34 | 25.8 | -2.8 | -8.7 | 20.9 | 20.1 | 13.6 | 20.1 | -12.6 | 22.2 | 21.3 |
| YoY Gr. | - | -24.1% | -110.8% | NA | NA | -3.6% | -32.7% | 48.6% | -162.7% | NA | - |
| BVPS (₹) ⓘ | 309.1 | 329.2 | 315.7 | 304.9 | 324.3 | 413.1 | 420.5 | 460 | 431.8 | 452.4 | 452.4 |
| Adj Net Profit ⓘ | 31.2 | 23.7 | -2.6 | -8 | 19.2 | 18.5 | 12.4 | 18.5 | -11.6 | 20.4 | 20 |
| Cash Flow from Ops. ⓘ | 42.1 | 46.1 | -12.8 | -8.8 | 58.5 | 24.3 | -7.1 | 37 | 5.3 | 16.4 | - |
| Debt/CF from Ops. ⓘ | 0.1 | 0 | -2.7 | -5.8 | 0.6 | 0 | 0 | 0 | 2.9 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 1.8% | 2.2% | 5.8% | 6.4% | ||||
| Adj EPS ⓘ | -4.6% | 1.2% | 17.9% | NA | ||||
| BVPSⓘ | 4.3% | 6.9% | 2.5% | 4.8% | ||||
| Share Price | 6.5% | 17.7% | 20.8% | 46.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 11.5 | 8.1 | -0.9 | -2.8 | 6.6 | 5.5 | 3.3 | 4.6 | -2.8 | 5 | 4.7 |
| Op. Profit Mgn % ⓘ | 8 | 6.1 | 1.8 | 0.1 | 2.7 | 3.9 | 3.1 | 2.5 | 1.3 | 4.2 | 4.2 |
| Net Profit Mgn % ⓘ | 4.2 | 3.4 | -0.4 | -1 | 2.4 | 3 | 1.7 | 2.1 | -1.4 | 2.3 | 2.2 |
| Debt to Equity ⓘ | 0 | 0 | 0.1 | 0.2 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 174 | 187 | 205 | 225 | 229 | 249 | 227 | 203 | 188 | 174 | 86 |
| Cash Conv. Cycle ⓘ | 84 | 94 | 95 | 86 | 80 | 105 | 86 | 75 | 84 | 89 | 49 |
Return on Equity has increased versus last 3 years average to 4.70%
Net Profit is growing at healthy rate in last 3 years 17.87%
Sales growth has been subdued in last 3 years 5.78%
Sales growth is not so good in last 4 quarters at 6.23%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 21.3 | 24.1 |
| TTM Sales (₹ Cr.) | 882 | 504 |
| BVPS (₹.) ⓘ | 452.4 | 0 |
| Reserves (₹ Cr.) ⓘ | 406 | 203 |
| P/BV ⓘ | 1.43 | 0.00 |
| PE ⓘ | 30.36 | 26.88 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 417.30 / 833.00 |
| All Time Low / High (₹) | 60.00 / 833.00 |
| Market Cap (₹ Cr.) | 593 |
| Equity (₹ Cr.) | 9.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51.6 |
| Mar'24 | YoY Gr. Rt. % | Jun'24 | YoY Gr. Rt. % | Sep'24 | YoY Gr. Rt. % | Dec'24 | YoY Gr. Rt. % | |
|---|---|---|---|---|---|---|---|---|
| Operating Income | 0.2 | -35.3 | 0.2 | -8.3 | 0.2 | -4.2 | 0.1 | -65.2 |
| Adj EPS (₹) | 0.00 | -100 | 0.01 | 0 | 0.05 | N/A | -0.02 | -300 |
| Net Profit Mgn % | -4.91 | -2693 bps | 14.67 | 497 bps | 60.09 | 9836 bps | -89.29 | -10524 bps |
| Company Name | CMP(₹) | |||||||
|---|---|---|---|---|---|---|---|---|
| Tata Chemicals | 812.2 | -37.1 (-4.4%) | Small Cap | 15,421 | -21.9 | 6.9 | - | 1 |
| GNFC | 489.9 | -14.7 (-2.9%) | Small Cap | 7,930 | 34.2 | 6.2 | 14.8 | 0.9 |
| Aarti Inds | 373.7 | -24.5 (-6.1%) | Small Cap | 6,372 | 10.1 | 6.6 | 39.3 | 2.6 |
| Atul | 5,367.6 | -257.8 (-4.6%) | Small Cap | 4,358 | 137.7 | 8.5 | 40.8 | 2.9 |
| Himadri Speciality | 433.9 | -22.7 (-5%) | Small Cap | 4,185 | 10.4 | 9.6 | 43.8 | 6.5 |
| Jubilant Ingrevia | 645.4 | -27.5 (-4.1%) | Small Cap | 3,987 | 12.8 | 4.2 | 52.4 | 4.5 |
| Chemplast Sanmar | 428.9 | -8 (-1.8%) | Small Cap | 3,923 | -5.5 | -3.8 | - | 38.5 |
| Guj. Alkalies & Chem | 624.5 | -35.6 (-5.4%) | Small Cap | 3,807 | -3.7 | -3.5 | - | 0.7 |
| GHCL | 611.7 | -10.1 (-1.6%) | Small Cap | 3,447 | 62.5 | 18 | 9.9 | 1.8 |
| India Glycols | 1,217.4 | -39.6 (-3.2%) | Small Cap | 3,291 | 54.2 | 4.9 | 23.2 | 2.1 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 750 | 707 | 738 | 838 | 791 | 608 | 745 | 872 | 829 | 882 |
| Operating Expenses ⓘ | 692 | 666 | 726 | 839 | 771 | 586 | 722 | 852 | 819 | 845 |
| Manufacturing Costs | 45 | 44 | 43 | 48 | 43 | 33 | 38 | 39 | 48 | 46 |
| Material Costs | 526 | 486 | 550 | 656 | 579 | 427 | 549 | 678 | 627 | 658 |
| Employee Cost | 49 | 58 | 60 | 64 | 70 | 75 | 77 | 76 | 76 | 70 |
| Other Costs ⓘ | 72 | 78 | 73 | 70 | 80 | 51 | 58 | 58 | 67 | 71 |
| Operating Profit ⓘ | 58 | 42 | 12 | -1 | 20 | 23 | 23 | 20 | 10 | 36 |
| Operating Profit Margin (%) | 7.7% | 5.9% | 1.6% | -0.2% | 2.6% | 3.7% | 3.1% | 2.3% | 1.2% | 4.1% |
| Other Income ⓘ | 5 | 7 | 3 | 15 | 13 | 7 | 10 | 8 | 8 | 10 |
| Interest ⓘ | 5 | 2 | 3 | 6 | 5 | 2 | 1 | 4 | 4 | 2 |
| Depreciation ⓘ | 17 | 15 | 16 | 13 | 11 | 15 | 14 | 13 | 18 | 19 |
| Exceptional Items ⓘ | 0 | 0 | -12 | 0 | 0 | 98 | 0 | 33 | -24 | 1 |
| Profit Before Tax ⓘ | 40 | 31 | -16 | -6 | 17 | 111 | 17 | 44 | -28 | 26 |
| Tax ⓘ | 11 | 8 | -4 | 3 | -1 | 25 | 4 | 3 | -6 | 6 |
| Profit After Tax | 30 | 23 | -12 | -9 | 18 | 86 | 12 | 41 | -23 | 20 |
| PAT Margin (%) | 4.0% | 3.2% | -1.6% | -1.1% | 2.3% | 14.1% | 1.7% | 4.7% | -2.7% | 2.2% |
| Adjusted EPS (₹) | 32.4 | 24.9 | -12.9 | -10.2 | 20.1 | 93.6 | 13.5 | 44.7 | -24.7 | 21.3 |
| Dividend Payout Ratio (%) | 12% | 16% | 0% | 0% | 22% | 6% | 37% | 4% | 0% | 19% |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 284 | 302 | 290 | 280 | 298 | 379 | 386 | 422 | 396 | 415 |
| Share Capital ⓘ | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves ⓘ | 275 | 293 | 281 | 271 | 289 | 370 | 377 | 413 | 387 | 406 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 2 | 0 | 35 | 51 | 35 | 0 | 0 | 0 | 15 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 2 | 0 | 35 | 51 | 35 | 0 | 0 | 0 | 15 | 0 |
| Trade Payables | 82 | 91 | 136 | 192 | 111 | 112 | 189 | 169 | 117 | 119 |
| Others Liabilities ⓘ | 98 | 117 | 92 | 144 | 69 | 96 | 104 | 98 | 86 | 91 |
| Total Liabilities ⓘ | 466 | 511 | 553 | 667 | 512 | 587 | 679 | 690 | 614 | 626 |
Fixed Assets | ||||||||||
| Gross Block | 186 | 197 | 81 | 97 | 109 | 143 | 154 | 178 | 250 | 248 |
| Accumulated Depreciation | 115 | 128 | 27 | 40 | 50 | 64 | 78 | 90 | 107 | 107 |
| Net Fixed Assetsⓘ | 71 | 69 | 54 | 57 | 59 | 79 | 76 | 88 | 143 | 141 |
| CWIP ⓘ | 2 | 4 | 7 | 3 | 1 | 1 | 9 | 77 | 15 | 4 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 101 | 116 | 122 | 139 | 98 | 103 | 149 | 110 | 104 | 119 |
| Trade Receivables | 206 | 196 | 220 | 245 | 201 | 182 | 233 | 251 | 220 | 241 |
| Cash Equivalents | 1 | 22 | 34 | 31 | 15 | 92 | 73 | 67 | 47 | 39 |
| Others Assetsⓘ | 85 | 104 | 116 | 191 | 137 | 130 | 138 | 96 | 84 | 81 |
| Total Assets ⓘ | 466 | 511 | 553 | 667 | 512 | 587 | 679 | 690 | 614 | 626 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 42 | 46 | -13 | -9 | 58 | 24 | -7 | 37 | 5 | 16 |
| PBT ⓘ | 40 | 31 | -16 | -6 | 17 | 111 | 17 | 44 | -28 | 26 |
| Adjustment ⓘ | 23 | 17 | 29 | 9 | 13 | -84 | 9 | -18 | 26 | 18 |
| Changes in Working Capital ⓘ | -11 | 11 | -26 | -13 | 31 | 19 | -24 | 15 | 9 | -28 |
| Tax Paid ⓘ | -10 | -12 | 0 | 1 | -2 | -21 | -10 | -4 | -2 | 1 |
| Cash Flow From Investing Activity ⓘ | -5 | -15 | -3 | -22 | -37 | 38 | 56 | -34 | -30 | -6 |
| Capex | -5 | -15 | -3 | -8 | -55 | 95 | -6 | -36 | -31 | -6 |
| Net Investments | 0 | 0 | 0 | -16 | 0 | 0 | 59 | -1 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 2 | 19 | -57 | 3 | 3 | 1 | 0 |
| Cash Flow From Financing Activityⓘ | -37 | -10 | 28 | 12 | -22 | -44 | -9 | -8 | 5 | -18 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -4 | -3 | -2 | -4 | -6 | -2 | -1 | -1 | -4 | -2 |
| Dividend Paid ⓘ | 0 | -4 | -4 | 0 | 0 | -4 | -6 | -5 | -2 | 0 |
| Others ⓘ | -33 | -3 | 34 | 16 | -16 | -38 | -3 | -3 | 11 | -17 |
| Net Cash Flow ⓘ | 0 | 21 | 12 | -19 | 0 | 18 | 40 | -6 | -20 | -8 |
| PARTICULARS | Dec'15 | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.92 | 7.8 | -3.98 | -3.27 | 6.39 | 25.38 | 3.24 | 10.14 | -5.54 | 4.82 |
| ROCE (%) | 15.53 | 11.21 | -4.12 | -0.02 | 6.67 | 31.68 | 4.74 | 11.88 | -5.78 | 6.69 |
| Asset Turnover Ratio | 1.74 | 1.61 | 1.46 | 1.37 | 1.34 | 1.11 | 1.19 | 1.28 | 1.29 | 1.44 |
| PAT to CFO Conversion(x) | 1.4 | 2 | N/A | N/A | 3.22 | 0.28 | -0.58 | 0.9 | N/A | 0.8 |
| Working Capital Days | ||||||||||
| Receivable Days | 89 | 93 | 98 | 101 | 103 | 115 | 101 | 101 | 102 | 94 |
| Inventory Days | 47 | 50 | 56 | 57 | 55 | 60 | 61 | 54 | 47 | 46 |
| Payable Days | 66 | 65 | 75 | 91 | 96 | 95 | 100 | 96 | 83 | 66 |
DIC India was formally born on April 2, 1947; it had been precededsince 1937 by the lesser presence of its parent company in India.
DICIndia is part of Dainippon Ink & Chemicals Inc. of Japan (DIC). Thecompany, along with its subsidiaries, are the world leaders in printinginks with a global market share of nearly 40 per cent. DIC is not onlya leader in Graphic Arts but has a strong presence in printers’supplies, machinery, pigments and reprographic products.
It offerinks for all types of printing processes and methods. Its inks bothoffset and liquid are enabled for use in new-generation, upgradedprinting machines. Its latest brand of Offset process colourbrand-named 'XTRA SPEED' is specially user-friendly for high speedprinting jobs, it also produces a wide range of UV lacquersbrand-named 'Viocure' to enhance the print quality of high value-addedjobs done to exacting standards. It offers users a wide range ofinternational brands from DIC, Sun Chemical and Coates Screen to covervirtually all possible applications.
DIC India Limited has itsregistered and head offices at Kolkata and manufacturing facilities atKolkata, Delhi, Mumbai, Chennai, Noida and Ahmedabad. The industrialcoatings manufacturing facility of it’s wholly owned subsidiary DICCoatings India Limited is located at Bangalore. DIC India’s majorrevenues are generated from printing inks. In keeping with itsleadership status in its industry, DIC India is a truly all-Indiacompany.
Scientists at DIC have at their disposal all necessarytools, be it spectrophotometer and colour computer, UV rigs or FTIR.DIC Research & Development benefits from world wide experience andknowledge from DIC and its worldwide subsidiaries.
DIC India’sproduct range in inks is truly wide. Its six factories manufacture inksof diverse kinds including black inks, offset inks, liquid inks, screeninks and print finish inks. These cover virtually all printingprocesses in use in the country today.
DIC India has strictpolicies for the use of materials based on international codes ofpractice. The Company has taken voluntary measures to ensure highsafety, health and environment standards at its establishments. Theycover aspects such as waste disposal, occupational health hazardsminimisation, internal safety audits, safety training and providingadvice to customers and contractors on the safe handling, disposal andtransportation of the company’s products.
Various proactiveactions have been taken which include adoption of cleaner technology,conservation of resources through waste reduction, recycling and reuseof waste materials and ongoing training of employees. The Safety,Health and Environment Department of the company oversees and reviewsthe integrated environment, occupational health and safety audits whichensure comprehensive coverage of all Company locations.
Thecompany had two wholly owned subsidiary viz. DIC Coatings India Limitedand Rohit (Printing Inks and Paints) Industries Private Limited. In 2008 Rohit (Printing Inks & Paints) Industries Private Limited, had been amalgamated with the company.
In 2010, DIC India sold its entire stake in Coates Coating India Private Limited to Valspar, a North American manufacturer of paints and coatings.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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