DOMS Industries Limited (DOMS)
Large CapFMCG stocks · Large cap · NSE
DOMS Industries Limited manufactures and markets a wide range of stationery and art materials. The company focuses on new product launches, expanding distribution, and increasing manufacturing capacity. It also operates in the baby hygiene segment through its Uniclan business.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Bad · 2/100PAT -24% YoY · margin compression · Rev +19% YoY · +11% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹671 Cr | +19.4% | +11.1% |
| EBITDA | ₹83 Cr | -16.2% | -17.8% |
| Operating margin | 12.0% | -600 bps | -500 bps |
| PAT | ₹45 Cr | -23.7% | -22.4% |
| PAT margin | 6.7% | -379 bps | -289 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
FY26 revenue grew 21.6% to INR2,326.4 crores, surpassing guidance, driven by new products and buoyant demand. Q4 revenue rose 18.7% to INR604 crores. EBITDA margins softened in Q4 (16.7% vs 17.3% YoY) and FY26 (17.3% vs 18.2% YoY) due to Uniclan's higher contribution and e-commerce costs.
DOMS delivered strong revenue growth in FY26 and Q4, fueled by new product launches and robust domestic demand. However, significant raw material inflation (15-20% increase in crude-linked basket) and higher e-commerce related costs for the Uniclan segment are pressuring EBITDA margins. Management has implemented only 4-5% pricing actions, leading to near-term margin uncertainty for FY27.
New Product Launches
New product launches across categories with attractive ergonomic and user-friendly designs resonated strongly with consumers and gained strong traction.
Sustained Category Growth
Witnessed sustained growth across all our product categories, with certain categories aided by capacity additions.
Buoyant Domestic Demand
The demand scenario in the domestic market continues to remain buoyant and was a key contributor to growth, underpinned by strong entrenched distribution network.
Office Supplies Segment
Office supplies (ball point pens, highlighters) delivered very great growth. Company continues to invest significantly in writing instruments.
FY26 Capex Spend
The company totally spent around INR292 crores in FY26 towards development of 45-acre land, acquisition of additional land, and procurement/installation of plant and machinery.
FY27 Capex Plan
Company has lined up a capex plan between INR250 crores to INR275 crores for FY27.
45-Acre Facility Development
The first building of our 45-acre facility is on track for completion in June 2027 with commercial production expected to commence towards the end of Q2 FY27.
Capacity Expansion Areas
Significant investments were done in expansion of moulding capacities, writing instruments, adhesive manufacturing infrastructure, and planned capex for wooden pencils.
Buoyant Domestic Demand
The demand scenario in the domestic market continues to remain buoyant, underpinned by strong entrenched distribution network, robust brand equity and a well-diversified product portfolio.
Strong Brand Equity
Social media community scaled significantly: YouTube subscribers crossed 4 million, Instagram followers over 170,000, reinforcing DOMS as an admired brand.
New Product Traction
New product launches across categories with attractive ergonomic and user-friendly designs resonated strongly with consumers and gained strong traction.
Geopolitical Uncertainty
Elevated uncertainty and volatility primarily stemming from the ongoing developments in West Asia.
Raw Material Price Inflation
Significant increase in prices of raw material, with a significant portion of input basket directly linked to crude derivatives.
Seasonal Slowdown in Baby Hygiene
Moderation in EBITDA margin is partly due to the onset of the seasonal slowdown in the baby hygiene segment, which impacted fixed cost absorption.
Raw Material Price Volatility
A significant portion of our input basket is directly linked to crude derivatives, which makes cost trends especially sensitive and highly volatile to the developments in the West Asia conflict.
Market Share Impact from Pricing
Aggressive pricing moves can sometimes lead to loss of shelf space to new entrants and existing competitors.
E-commerce Cost Structure
Increase in contribution of e-commerce sales in the baby hygiene segment led to higher advertising and marketing and freight expenses, impacting EBITDA margins.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The company reports both full-year (FY26) and quarterly (Q4 FY26) results, comparing them to the corresponding previous periods (YoY). Quarterly sequential performance (QoQ) is also relevant for understanding the seasonal impact on the Uniclan business.
Revenue Growth (FY26)
Revenue for the financial year 2026 grew by 21.6% to INR2,326.4 crores, surpassing our full year guidance.
Revenue Growth (Q4 FY26)
Revenue for Q4 FY26 grew by 18.7% to INR604 crores, highlighting a sustained growth trajectory.
Consumption Margins (FY26)
Consumption margins were broadly consistent for FY26 at 43.6% similar to FY25.
EBITDA Margin (FY26)
EBITDA margin softened to 17.3% as compared to 18.2% in FY25 on account of higher Uniclan contribution.
FY27 Revenue Guidance
At consolidated level with the planned capacity expansion and the current demand trends, we expect revenue to grow by 17% to 20% in FY27.
Near-Term Margin Pressure
Given the current commodity environment and volatility, we do expect margins in Q1 to remain slightly under pressure versus the corresponding period last year.
Long-Term Margin Profile
We do not view this as a structural revision of our margin – long-term margin profile, but more of temporary.
Uniclan Long-Term Margin Target
From a long-term perspective, we believe in this segment (Uniclan), we'll be happy to achieve a 10% sort of an EBITDA and stay at that level, maximizing revenue growth.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Raw Material Cost Trends | 15-20% inflation in crude-linked basket (peak). | Stabilization or correction in raw material prices, especially crude derivatives, to ease margin pressure. |
| Pricing Actions & Market Share | 4-5% pricing increase implemented so far. | Further calibrated pricing actions and their impact on market share and competitive positioning. |
| EBITDA Margin Recovery | Q4 FY26 EBITDA margin at 16.7%, FY26 at 17.3%. Expected Q1 FY27 pressure. | Signs of margin recovery in subsequent quarters, driven by cost efficiencies and effective pricing. |
| 45-Acre Facility Commercialization | First building completion June 2027, commercial production end of Q2 FY27. | Timely commissioning and ramp-up of production from the new facility to support growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
32Bearishfull bear SMA stack · SMA20 -2.3% / mo · MACD +
Technical chart
DOMSdaily · 1Y · AUTO+3.0%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 45. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~2.3% over last month) — short-term momentum negative.
- RSI(14) at 45 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 20% off 52W high · 9% 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.
Relative Strength & Trend Stage
- Price is 2.8% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.2%.
Valuation & score drivers
U-Score 53 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 53 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 20/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Fair-value margin of safety is negative at -37.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 9/15; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
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.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 70th percentile within FMCG. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 63.4%. Key concern: Promoter holding fell 7%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · FMCG: 70th pctile, median 78 · Large: 74th pctile, median 73
38 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead 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.
Trust positives
- ▸Promoter holding is 63.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.8%.
- ▸4 years of positive FCF.
Trust risks
- ▸Promoter holding fell 7%.
- ▸ROCE trend is -2.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 61.70
- P/B
- 10.99
- EV/EBITDA
- 28.40
- Market Cap
- 13404.00Cr
Profitability
- ROE
- 20.70%
- ROCE
- 24.30%
- ROA
- 13.28%
- Dividend Y
- 0.17%
Growth (CAGR)
- Revenue 5Y
- 42.00%
- EPS 5Y
- 91.00%
- Revenue 3Y
- 24.00%
- EPS 3Y
- 34.00%
Balance Sheet
- Debt/Equity
- 0.12
- Interest Coverage
- 42.89×
- Altman Z
- 9.39
- Book Value
- 201.00
Cash Flow
- FCF Yield
- 0.78%
- FCF Positive Y
- 4/5
- OCF
- 254.00 Cr
- EPS TTM
- 35.82
Shareholding
- Promoter Hold
- 63.38%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 27%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in FMCG — 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.