DIC INDIA LIMITED 2024-25 Annual Report Analysis

Thu, 26 Mar

DIC INDIA LIMITED has announced its results for the year ended December 2025. Let us have a look at the detailed performance review of the company during FY24-25.

DIC INDIA LIMITED Income Statement Analysis

• Operating income during the year rose 1.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 0.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 4.2% in CY25 as against 4.2% in CY24.
• Depreciation charges decreased by 3.8% and finance costs decreased by 19.4% YoY, respectively.
• Other income declined by 36.6% YoY.
• Net profit for the year declined by 11.1% YoY.
• Net profit margins during the year declined from 2.2% in CY24 to 1.9% in CY25.

DIC INDIA LIMITED Income Statement 2024-25

No. of Mths Year Ending		12 Dec-24*	12 Dec-25*	% Change
Net Sales	Rs m	8,815	8,918	1.2%
Other income	Rs m	96	61	-36.6%
Total Revenues	Rs m	8,911	8,979	0.8%
Gross profit	Rs m	372	374	0.5%
Depreciation	Rs m	191	184	-3.8%
Interest	Rs m	18	14	-19.4%
Profit before tax	Rs m	259	236	-8.7%
Tax	Rs m	64	63	-1.4%
Profit after tax	Rs m	195	174	-11.1%
Gross profit margin	%	4.2	4.2
Effective tax rate	%	24.5	26.5
Net profit margin	%	2.2	1.9

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DIC INDIA LIMITED Balance Sheet Analysis

• The company's current liabilities during CY25 stood at Rs 2 billion as compared to Rs 2 billion in CY24, thereby witnessing an increase of 15.9%.
• Current assets rose 11% and stood at Rs 5 billion, while fixed assets rose 3% and stood at Rs 2 billion in CY25.
• Overall, the total assets and liabilities for CY25 stood at Rs 7 billion as against Rs 6 billion during CY24, thereby witnessing a growth of 8%.

DIC INDIA LIMITED Balance Sheet as on December 2025

No. of Mths Year Ending		12 Dec-24*	12 Dec-25*	% Change
Networth	Rs m	4,153	4,286	3.2
Current Liabilities	Rs m	1,683	1,951	15.9
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	6,256	6,773	8.3
Current assets	Rs m	4,261	4,722	10.8
Fixed Assets	Rs m	1,995	2,051	2.8
Total Assets	Rs m	6,256	6,773	8.3

DIC INDIA LIMITED Cash Flow Statement Analysis

• DIC INDIA LIMITED's cash flow from operating activities (CFO) during CY25 stood at Rs 428 million, an improvement of 161.1% on a YoY basis.
• Cash flow from investing activities (CFI) during CY25 stood at Rs -100 million, an improvement of 67.0% on a YoY basis.
• Cash flow from financial activities (CFF) during CY25 stood at Rs -74 million, an improvement of 59% on a YoY basis.
• Overall, net cash flows for the company during CY25 stood at Rs 254 million from the Rs -78 million net cash flows seen during CY24.

DIC INDIA LIMITED Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Dec-24	Dec-25
Cash Flow from Operating Activities	Rs m	164	428	161.1%
Cash Flow from Investing Activities	Rs m	-60	-100	-
Cash Flow from Financing Activities	Rs m	-182	-74	-
Net Cash Flow	Rs m	-78	254	-

Current Valuations for DIC INDIA LIMITED

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 18.9, an decline from the EPS of Rs 21.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 479.3, stands at 25.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.0 times, while the price to sales ratio stands at 0.5 times.
• The company's price to cash flow (P/CF) ratio stood at 15.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Dec-24*	12 Dec-25*
Sales per share (Unadj.)	Rs	960.3	971.4
TTM Earnings per share	Rs	21.3	18.9
Diluted earnings per share	Rs	21.3	18.9
Price to Cash Flow	x	15.8	15.5
TTM P/E ratio	x	31.3	25.3
Price / Book Value ratio	x	1.4	1.3
Market Cap	Rs m	5,724	5,542
Dividends per share (Unadj.)	Rs	4.0	3.0

Ratio Analysis for DIC INDIA LIMITED

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.4x during CY25, from 2.5x during CY24. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 17.7x during CY25, from 15.7x during CY24. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 4.1% during CY25, from 4.7% during CY25. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 5.8% during CY25, from 6.7% during CY24. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 2.8% during CY25, from 3.4% during CY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Dec-24*	12 Dec-25*
Current ratio	x	2.5	2.4
Debtors’ Days	Days	998	1,078
Interest coverage	x	15.7	17.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	3.4	2.8
Return on equity	%	4.7	4.1
Return on capital employed	%	6.7	5.8

To see how DIC INDIA LIMITED has performed over the last 5 years, please visit here.

DIC INDIA LIMITED Share Price Performance

Over the last one year, DIC INDIA LIMITED share price has moved up from Rs 421.0 to Rs 651.0, registering a gain of Rs 230.0 or around 54.6%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

(To know more, check out historical annual results for DIC INDIA LIMITED and quarterly results for DIC INDIA LIMITED)