Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 15 Oct - CRISIL reaffirmed DIC India’s ratings: Rs100 crore bank facilities A/Stable and A1, plus Rs50 crore short-term debt A1.
Source: Bse
DIC India Limited (DICIND)
Small CapIndustrials stocks · Small cap · NSE
DIC India Limited operates in Printing Inks, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹589.45
-9.45 · -1.58%
Market cap ₹550 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result12 Aug, 05:27 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
57NeutralSMA20 +2.7% / mo · MACD −
Stock trend: 61
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
DICINDD candles · FIT view+8.1%Latest close ₹589.45 on 2026-10-19
Bar
-1.7%
RSI
45
MACD hist
-4.79
52W pos
62%
2026-10-19O ₹599.90H ₹599.90L ₹585.00C ₹589.45Vol 452 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
DICINDNifty India ManufacturingNifty 500
- DICIND
- +16.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +21.6 pp
Chart stats
19 Oct 2026- From 52W high
- -12.7%
- 52W range position
- 62%
- ATR (14)
- 4.5%
- Volume vs 20D
- 0.13x
- Avg traded value
- ₹0.2 Cr
- 20D price channel
- ₹570.3 - ₹675
₹675
₹450.5 - ₹675
₹26.7
Latest completed session
20-session average
40.9% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST33
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +25.7% · PAT +250.0% YoY
Technical
Neutral57
Price trend and sector-relative-strength timing.
Valuation
Legacy model-99.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence77
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 100/100Rev +26% YoY · PAT +250% YoY · margin expansion · +18% QoQ · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹284 Cr | +25.7% | +17.8% |
| EBITDA | ₹22 Cr | +144.4% | +144.4% |
| Operating margin | 8.0% | +390 bps | +440 bps |
| PAT | ₹14 Cr | +250.0% | +250.0% |
| PAT margin | 4.9% | +316 bps | +327 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 25.00
- P/B
- 2.58
- EV/EBITDA
- 11.63
- Market Cap
- 550.00Cr
Profitability
- ROE
- 10.80%
- ROCE
- 15.20%
- ROA
- 6.45%
- Dividend Y
- 0.50%
Growth (CAGR)
- Revenue 5Y
- 5.00%
- EPS 5Y
- 5.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 21.00%
Balance Sheet
- Debt/Equity
- 0.20
- Interest Coverage
- 10.50×
- Altman Z
- 5.50
- Book Value
- 231.00
Cash Flow
- FCF Yield
- 4.73%
- FCF Positive Y
- 2/5
- OCF
- 35.00 Cr
- EPS TTM
- 24.04
Shareholding
- Promoter Hold
- 71.75%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 65%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 892+1.1% vs prev
Net Profit
₹ CrLatest: 17.0-15.0% vs prev
Return on Equity
%Latest: 4.0-17.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 45.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~2.6% over last month) — short-term momentum positive.
- RSI(14) at 45 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 13% off 52W high · 31% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
75
RS percentile
Stage 2 UptrendEstablished S2
1M return
-6.8%
3M return
+16.0%
6M return
+7.1%
1Y return
+13.7%
RS 1D
0
RS 20D
+1
Sector rank
#2
Industry rank
#9
Stage evidence
- Price is 8.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
21 Aug 2026
S2 age
40 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 118.3-0.55%
RS vs Nifty 500118
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation2/30
Growth7/25
Quality4/20
Balance Sheet10/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
33
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
33/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 4.7%.
- Piotroski is strong at 8/9.
- Balance sheet contributes 10/15 to the score.
Main drags
- Fair-value margin of safety is negative at -99.0%.
- Valuation is weaker at 2/30; verify the latest quarterly trend.
- Quality is weaker at 4/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
25.0
PB
2.6
EV/EBITDA
11.6
ROE
10.8%
ROCE
15.2%
FCF Yield
4.7%
Debt/Equity
0.2
MoS
-99.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
33
Previous: 33
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-99.0%
Previous: -99.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
33
33
33
33
33
33
33
33
33
33
33
33
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹353.48
-66.8% MoS
Growth-justified P/E
12.3
Growth-justified Value
₹296.17
-99.0% MoS
PEG
3.13
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BLACKROSE
Small
Black Rose Inds. Limited
Specialty Chemicals
match 135
40
19.5
13.6%
-225%
WATCHLIST
UNIENTER
Small
Uniphos Enterprises Limited
Specialty Chemicals
match 135
33
29.6
0.8%
-405%
WATCHLIST
CHEMFAB
Small
Chemfab Alkalis Limited
Specialty Chemicals
match 134
23
—
-2.5%
—
OVERVALUED
CHEMBONDCH
Small
Chembond Chemicals Limited
Specialty Chemicals
match 133
62
14.5
17.7%
+64%
UNDERVALUED
ASAHISONG
Small
Asahi Songwon Colors Limited
Specialty Chemicals
match 133
38
12.4
7.1%
-206%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
DIC India Limited operates in Printing Inks, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
77Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 83rd percentile of the scored universe and 83rd percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
83rd percentile
overall median 67 · Industrials: 83rd pctile, median 68 · Small: 86th pctile, median 66
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
80
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 71.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 4.6%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching DIC India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Oct - We hereby enclose copy of newspaper advertisement for outcome of postal ballot and opening of special window for relodgement of transfer requests of physical shares.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 30 Sep - Shareholders approved Hayato Kashiwagi as Managing Director from September 1, 2026 and Praveen Kumar Asthana as Whole Time Director from July 15, 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 15 Jul - Board appoints Hayato Kashiwagi MD from Sep 1, 2026 and Praveen Kumar Asthana Whole Time Director.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Sep - Copies of newspaper advertisements published regarding dispatch of notice of postal ballot and opening of special window for for relodgement of transfer requests of ....
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Resignation of Chief Executive Officer (CEO) 29 Aug - Manish Bhatia resigns as MD and CEO of DIC India, effective August 29, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Resignation of Managing Director 29 Aug - Manish Bhatia resigns as MD & CEO, effective August 29, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Resignation of Managing Director 2 Jun - Manish Bhatia resigns as Managing Director and CEO, effective August 29, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug - Newspaper advertisement published in Business Standard and Aajkal regarding regarding publication of financial results for the quarter and half year ended on June 30, ....
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 4 Jul - Ms. Manjusha Singh appointed Deputy CEO effective July 4, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Management 30 Jun - Head-Legal Ashutosh Bishnoi resigned effective June 30, 2026 for personal reasons.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Jun - Copies of newspaper advertisement published in Business Standard and Aajkal (Regional Language) regarding opening of special window for physical shareholders to submit ....
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.