DIC India
DIC India, earlier known as Coates India, is into manufacture and market printing inks and allied products. It is an MNC, DIC Asia holds 71.75% stake.
The company’s third quarter ended 30th Sept 2016 (year ending on 31st Dec) was a poor show. Beginning from the topline, it was a downward spiral all around. Net sales dropped 8% (YoY) at Rs.176 crore and net profit came in 43% lower at Rs.4 crore. EBITDA was down 44% at Rs.9 crore and margins came in lower at 5.08% v/s 8.33%.
The only silver lining here is that its interest cost has come down – for 9MCY2016, it was down 63% (YoY). Equity capital stands at Rs.9.18 crore and annualized EPS is at Rs.26 (FV of Rs.10). Reserve is at Rs.279 crore.
The net profit for 9M period is Rs.18 crore and it had ended CY15 with net profit at Rs.30 crore. Unless it has a bumper Q4, it seems unlikely that it will end current year on a higher note.