DIC India falls as performance drops

DIC India, earlier known as Coates India, is into manufacture and market printing inks and allied products. Its an MNC, DIC Asia holds 71.75% stake. The stock is down in the red today, some 8% down at Rs.616 levels as the company’s performance for Q4 and FY16 was not good.

For Q4FY16, the company posted a 14% (YoY) decline in net sales at Rs.168 crore. Other income declined 91% but that was made up to some extent by a 68% drop in interest outgo. Yet, it ended the quarter with a 12% drop in net profit at Rs.7 crore.

More disappointing was the FY16 performance wherein net sales declined by a huge 77% at Rs.171 crore and this trickled down to the bottomline – net profit for the year was down 80% at Rs.6 crore.