KEY EVENTS
- MILESTONES IN THE HISTORY OF DIC INDIA
Metal Coating production commenced in
Mumbai
1963
45
11966
Factory set up
1947 in Delhi for Blending
Incorporation of
Coates of India
Private Limited,
Kolkata
8
1985
The Kolkata factory witnessed
- modernisation programme that
included installing highly efficient machines
1990
Liquid Ink Manufacturing factory set up in Noida
9 |
10
2001
23
1961 | 1962 | |
Factory with | Sales Office set up | |
in Delhi | ||
modern | ||
manufacturing | R&D Department | |
facilities set up | inaugurated | |
in Kolkata | in Kolkata | |
1972 | ||
6 | 7 |
DIC Japan consolidates its investments under DIC Asia Pacific Pte Limited. Sun Chemical becomes the holding company
1977
Company made its maiden public issue of
equity share worth Rs 3.2 million
2
Entire stake transferred from Sun Chemical to DIC Asia Pacific Pte
Ltd.
2002
11
12
2004
Company changed to DIC India Limited w.e.f. 6th August
Opening of Liquid Ink plant in Noida
2008
14
Opening of News Ink plant in Noida
2006
13
Opening of
Adhesive Plant in
Bengaluru
2012
15 |
16
2016
Started Flexo Product offering in India
Completed 75 years in India; Launch of Food Packaging Safe Inks for Flexibles
2022
18 | 19 |
2023
Opening of new manufacturing facility in Saykha, Gujarat
17
2019
Opening of
Regional Technical
Centre
3
OUR PRESENCE
As on February 21, 2025
Noida
AhmedabadKolkata
SaykhaRanihati
Mumbai
Bengaluru Chennai
Corporate Office
Registered Office
R&D & Co. Office
Sales Office
Manufacturing
Blend Centre
Warehouse
4
BOARD OF DIRECTORS
As on February 21, 2025
Rajeev Anand | Prabal Kumar Sarkar | Pritha Dutt |
(Non-Executive Independent | (Non-Executive Independent | (Non-Executive Independent |
Chairman) | Director) | Director) |
Adnan Wajhat Ahmad | Paul Koek | Ji Xiang Jason Lee |
(Non-Executive Independent | (Non-Executive | (Non-Executive |
Director) | Director) | Director) |
Hayato Kashiwagi | Manish Bhatia |
Non-Executive Additional | (Managing Director & Chief |
Director | Executive Officer) |
5
INDEX
History & Milestones | ..... | 2 | |||
DIC India Presence | 4 | ||||
Board of Directors | 5 | ||||
Corporate Information | ..... | 7 | |||
DIC India in brief | 8 | ||||
Product Portfolio | 9 | ||||
Technical Centre, Noida | ..... | 13 | |||
Manufacturing Facilities | ..... | 14 | |||
DIC Vision 2030 | 15 | ||||
Sustainability Policy | 16 | ||||
People | 17 | ||||
Environment, Health & Safety | 18 | ||||
Corporate Social Responsibility | .....22 | ||||
Notice of AGM | 24 | ||||
Board's Report & Annexures | 34 | ||||
Corporate Governance Report & Annexures | 58 | ||||
Independent Auditor's Report & Audited Financials | .....81 |
6
CORPORATE INFORMATION
As on February 21, 2025
Board of Directors
Rajeev Anand
Chairman & Independent Director (DIN: 02519876)
Prabal Kumar Sarkar
Independent Director (DIN: 03124712)
Pritha Dutt
Independent Director (DIN: 02910608)
Adnan Wajhat Ahmad
Independent Director (DIN: 00046742)
Paul Koek
Non-Executive Director (DIN: 00081930)
Ji Xiang Jason Lee
Non-Executive Director (DIN: 10485668)
Hayato Kashiwagi
Non- Executive Additional Director (DIN: 10953592)
Manish Bhatia
Managing Director & Chief Executive Officer (DIN: 08310936)
Key Managerial Personnel
Manish Bhatia
Managing Director &
Chief Executive Officer (DIN: 08310936)
Gagandep Singh
Chief Financial Officer
Meghna Saini
Company Secretary & Compliance Officer
M. No. A-42587 (w.e.f. 16th September, 2024)
Corporate Office
DIC India Limited Fusion Square, 5th Floor
5A-5B, Sector 126, Noida - 201303 Uttar Pradesh, India
Phone: +91 120 6361414
Email: investors@dic.co.in
Registered Office
DIC India Limited
UB03, Mani Tower 31/41
Binova Bhave Road, Behala
Kolkata - 700038, West Bengal
Phone: +91 33 48128955
Email: investors@dic.co.in
Website: www.dic.co.in
Board Committees
Audit Committee
Prabal Kumar Sarkar - Chairman
Paul Koek
Adnan Wajhat Ahmad
Stakeholders' Relationship Committee
Adan Wajhat Ahmad - Chairman
Paul Koek
Rajeev Anand
Nomination & Remuneration Committee
Pritha Dutt - Chairperson
Prabal Kumar Sarkar
Paul Koek
Corporate Social Responsibility Committee
Pritha Dutt - Chairperson
Ji Xiang Jason Lee
Paul Koek
Adan Wajhat Ahmad
Risk Management Committee
Adan Wajhat Ahmad - Chairperson
Ji Xiang Jason Lee
Prabal Kumar Sarkar
Manish Bhatia
Auditor
Price Waterhouse Chartered Accountants LLP
(Reg No. 012754N/N500016)
Building No. 8, 8th Floor, Tower-B
DLF Cyber City, Gurugram - 122002, Haryana
Phone: +91 124 4620000
Fax: +91 124 4620620
Bankers
State Bank of India
Standard Chartered Bank
HDFC Bank Limited
Mizuho Bank Limited
MUFG Bank Limited
Registrar & Share Transfer Agent
CB Management Services Pvt. Ltd.
(CIN: U74140W/B1994PTC062959)
P-22, Bondel Road, Kolkata - 700019
Phone: +91 33 40116700 / 22806692 / 22827033 / 22870263
Email: rta@cbmsl.com
Website: www.cbmsl.com
CIN: L24223WB1947PLC015202
DIC INDIA
IN BRIEF
The Company started its journey in 1947 as Coates of India Private Limited. In early 2000, it came under the umbrella of DIC Corporation, Japan through a global acquisition. DIC India prides itself on being one of the largest companies in the printing, publishing, and packaging industry in India.
The Company has continuously surpassed its milestones over the years. It is setting new benchmarks by becoming the supplier of choice for its esteemed customers.
DIC India Research and Development Centers at Noida and Bengaluru have been instrumental in developing new products, processes, and applications whilst improving existing technology to benefit its clients.
THE DIC WAY
Mission
We create enhanced value and utilize innovation to introduce socially responsible and sustainable products.
Vision
We improve the human condition by safely delivering color and comfort for sustainable prosperity - Color & Comfort.
Core Values
Enterprising: Lead with a passion for excellence that is evident in the solution-focused actions taken each day to drive value through innovation.
Integrity: Be honest, forthright, and ethical in all dealings with customers, suppliers and coworkers.
Dedication & Loyalty: Take responsibility for performance in the office, laboratory and factory, by demonstrating commitment to customers, suppliers and coworkers.
Diversity: Respect other viewpoints and work collaboratively while valuing collective goals over personal
interests to achieve excellence: foster communication and cooperation with people from all backgrounds.
Social Responsibility: Go beyond compliance to promote products and activities that achieve socially responsible and sustainable development that protects the environment.
8
PRODUCT
PORTFOLIO
DIC India brings to market a range of high-performance inks for diverse printing and packaging applications with unmatched color reproduction at high speeds, suitable for a wide range of substrates and industries.
Packaging Inks & Coatings
Gravure Inks
DIC India, provides excellent quality Gravure inks that have been formulated to meet the diverse needs of reverse printing on treated BOPP, treated and plain Polyester film, Nylon, and Cellophane. Our liquid inks like Smart KF/TF, Hikari HSKF, etc. are known for the richness of printing on food, beverage, and oil packets.
Flexo Inks
DIC India offers a complete range of water based, solvent based, and UV Flexo inks for the fast-growing packaging and label industry. The portfolio comprises flexographic inks such as Polytone, GPL, Easiflex series, SunEster and Solimax inks, etc. for high strength, high speed advantage with excellent reproductions.
Offset Commercial
DIC's range of offset packaging ink provides good gloss and robust lithographic properties for running in all modern offset presses in commercial printing. The ink is perfectly suited for all types of LWC, GNP, and SNP for printing magazines and periodicals. We offer inks that reduce the cost of printing with high-speed inks, thereby optimizing the operational efficiency of the printers and improving the business investment. Commercial offset ink is used for printings of books both
9
standard quality and high-end books, posters, danglers, POP material, playing cards, magazines, movie posters. Our premium brands are Fusion G, Geos G, SynerG EX Plus, Inspira.
Mineral Oil Free (MOF) Inks
MO Free Inks, an innovative sheetfed offset printing ink suitable for paper & board and recommended for food packaging. They are made from renewable materials and meet the same performance criteria as standard ink with the added advantage of sustainability & safety.
UV Packaging
- High-SpeedUV Inks for UV offset Presses @14000 IPH and higher
- Yield Better Ink Mileage on High Speed Inter-ducts Print Units Too
- Superior & High Opacity White UV inks
- Secured from Anti-Tack, Anti-Sleep, Low Odor & Anti-Mist Challenges
- Delivers Excellent Color Reproduction on all suitable substrates
LMLO Inks (Low Migration Low Odor)
High performance, UV Curable Inks for sensitive packaging like food, cosmetic, healthcare, pharmaceutical and tobacco.
UV Coatings
Gloss Coating
- Online & Offlline Application on Met Pet & Board
- Online & Offlline Application on Board
- Gloss OPV low Odour / BP Free
- Transport Resistance UV Varnish
- Matt OPV on Board or Met Pet
Aqueous Coatings
Our offering of food safe and low migration aqueous coatings adheres to the Global Migration Limits as defined by EFSA. We also offer aqueous coatings which are suitable for all water qualities, press types and IPA(alcohol) levels. Providing the best migration metrics for printed packaging of sensitive products like food, tobacco, cosmetics and more, our aqueous coatings such as Sun Coat LMQ have excellent organoleptic properties with migration rate well below OML of 60mg per KG.
Corrugated Box Packaging
Water Based Flexo Inks for secondary, primary and household packaging. Good printability for both line and tone printing (dependent on the type and quality of the substrate getting printed). After fully dried, the print will be water bleed resistant, deep freeze resistant.
Publication Inks
News Inks
Our news inks series such as Popular, Polar, Express, Color man Series, etc. are engineered to minimize start-up wastage and optimize the entire printing process. Suitable for all GSM counts in commercial and news applications such as premium coffee table books, newspapers, and academic applications. DIC inks are preferred for a range of economic advantages that improve efficiency and reduce wastage for both standard as well as glazed newsprints.
Text Book Inks
This range of ink is used in a web offset press with a press speed up to 30,000 CPH. It is most commonly used in textbook printing, mainly on map-litho, it has a most common application for text book printing and other semi commercial job printing. It has a robust rheology which eases its handling and ensures no mechanical defects during finishing operations.
10