DIC INDIA LTD
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BSE Code:
500089
NSE Code:
DICIND
Business Profile
Business Profile
DIC India (DIC) and its subsidiaries manufacture and sell printing inks. The company was founded in 1937. It was formerly known as Coates of India and its name changed to DIC India in 2003.The company is a 65.76% subsidiary of the Dainippon Ink & Chemicals, Japan through its wholly-owned company in Singapore, DIC Asia Pacific.
The company offers products like black, offset, liquid, screen, and print finish printing inks used as intermediates by the publication and packaging industries. The company also offers synthetic resins, press room chemicals, rubber blankets, and polyurethane lamination adhesives. A wide range of UV lacquers are sold under the brand name Viocure.
The manufacturing facilities of the company are located at Kolkata, New Delhi, Mumbai, Chennai, Noida, Ahmedabad and Bangalore. The industrial coatings manufacturing facility of its wholly owned subsidiary DIC Coatings India is located at Bangalore. The board has approved the merger of its other subsidiary, Rohit (Printing Inks & Paints) Industries, with itself. The company has embarked on a news color liquid ink project in Noida and news black ink project in Ahmedabad.
The company`s factory in Kolkata is a recipient of ISO 14001 certification by BVQI. Its R&D centre is recognized by the central government, ministry of science and technology.
The registered office of the company is at Transport Depot Road, Kolkata-700088.
Financials
DIC India registered a 7.27% growth in net profit to Rs 26.12 million for the quarter ended June 2007 from a profit of Rs 24.35 million for the quarter ended June 2006.
Net sales rose 14.76% to Rs 995.82 million for the quarter ended June 2007 from Rs 867.74 million for the quarter ended June 2006.
Total income rose 15.31% to Rs 1,016.37 million for the quarter ended June 2007 from Rs 881.43 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 3.79 for the quarter ended June 2007.
Recent Developments
06-JUN-07
A general meeting of the members of DIC India will be held on June 29, 2007 to consider the scheme of amalgamation and approve the merger of the wholly owned subsidiary of the company Rohit (Printing Inks & Paints) Industries with itself. The board has given its approval for the same.
Future Plans
The company plans to create a new manufacturing hub in southern India at Bangalore to carry out blending operations for offset, sheetfed and liquid inks to meet the entire requirements of the region. The company also plans to use the facility as a warehouse for storage of finished inks for sale in the neighbouring regions. DIC India wishes to enter into a toll manufacturing contract with its wholly owned subsidiary for manufacture of lamination adhesives on its behalf.