DOMS Industries Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as “Writefine Products Private Limited” as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated October 24, 2006, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. The name of the company was subsequently changed to “DOMS Industries Private Limited” and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Gujarat at Ahmedabad (RoC) on April 21, 2017. Upon the conversion of the Company into a public limited company, pursuant to the approval accorded by the company’s Shareholders at their extra-ordinary general meeting held on July 14, 2023, the name of the Company was changed to “DOMS Industries Limited” and a fresh certificate of incorporation consequent upon change of name upon conversion to public limited company was issued to the Company by the RoC on August 3, 2023.

The company designs, develops, manufactures, and sells a wide range of stationery and art products, primarily under its flagship brand ‘DOMS’, in the domestic market as well as in over 45 countries internationally, as of September 30, 2023. It is the second largest player in India’s branded ‘stationery and art’ products market, with a market share of around 12% by value, as of Fiscal 2023. Its keen focus on research and development (R&D), product engineering, and backward integrated manufacturing, operations, combined with its multichannel pan-India distribution network has enabled it to achieve a strong brand recall amongst consumers. 

Its products are marketed under its flagship brand ‘DOMS’ along with other brand/sub-brands including ‘C3’, ‘Amariz’, and ‘Fixyfix’. The company’s in-house product design team focusses on developing products, keeping in mind latest trends, customer lifestyles, aspirations, and preferences, who along with its dedicated R&D team develop, test, and evaluate products prior to launch. It continues to expand its product range to keep pace with the ever-evolving customer requirements and preferences and have recently launched its writing instruments under ‘DOMS’ brand in 2023, fine-art products under ‘Amariz’ and adhesive products under ‘Fixy Fix’. The company undertakes its manufacturing operations from facilities located in Umbergaon, Gujarat and Bari Brahma, in Jammu and Kashmir.

Business area of the company

The company offers well-designed and quality ‘stationery and art material’ products to consumers, which it classifies across seven categories: (i) scholastic stationery; (ii) scholastic art material; (iii) paper stationery; (iv) kits and combos; (v) office supplies; (vi) hobby and craft; and (vii) fine art products. 

Key awards, accreditations or recognitions

• 2016: Awarded “India’s Most Trusted Brand 2016” by the International Brand Consulting Corporation, USA.
• 2017: Awarded “India’s Most Trusted Brand Award 2017” by the International Brand Consulting Corporation, USA.
• 2017: Awarded “India’s No. 1 Brand 2017” by the International Brand Consulting Corporation, USA.
• 2018: Awarded the “Brand Leadership Award” at the Gujarat Best Brand Awards 2018.
• 2019: Awarded “Asia’s Most Trusted Brand Award 2019” by the International Brand Consulting Corporation, USA.
• 2019: Recognised as one of the “Promising Brands 2019” by the Economic Times.
• 2019: Awarded the “Export Excellence Award” for admirable export for the year 2018-19 by the Pen & Stationery Association of India.
• 2020: Accorded the “Two Star Export House” status by the Directorate General of Foreign Trade, Ministry of Commerce & Industry, Government of India.
• 2021: Recognised as one of the “Promising Brands 2021” by the Economic Times.
• 2023: Awarded the “Top Exporters Award” for being the number one exporter of the year 2021-22 by the Pen & Stationery Association of India.

Major events and milestones

• 2006: Commencement of operations by the Company.
• 2011: Purchased the business of the partnership firm S. Tech Industries, Gujarat, on a slump sale basis as a going concern.
• 2011: Purchased the business of the partnership firm R.R Industries, Gujarat, on a slump sale basis as a going concern.
• 2012: Purchased the business of the partnership firm R.R Industries, Jammu & Kashmir, on a slump sale basis as a going concern.
• 2012: Acquisition of 18.50% stake by FILA in the Company.
• 2015: Acquisition of 49.00% stake in Pioneer Stationery Private Limited, a company having operating revenue of Rs 51.44 million in Fiscal 2016.
• 2015: Acquisition of additional 32.50% stake by FILA in its Company.
• 2016: Increased the company’s stake in Pioneer Stationery Private Limited to 51.00%.
• 2016: Acquisition of 35% stake in Uniwrite Pens and Plastics Private Limited.
• 2017: Increased stake in Uniwrite Pens and Plastics Private Limited to 60%.
• 2023: Acquisition of 30% stake in Clapjoy Innovations Private Limited, a company having operating revenue of Rs 1.59 million in Fiscal 2023.
• 2023: Divestment of stake in Uniwrite Pens and Plastics Private Limited.
• 2023: Acquisition of 75% stake in Micro Wood Private Limited, a company having operating revenue of Rs 558.60 million in Fiscal 2023.