Business
DIC India : Annual Report-2024
DIC India : Annual
About this update from Dic India Limited
KEY EVENTS MILESTONES IN THE HISTORY OF DIC INDIA Metal Coating production commenced in Mumbai 1963 4 5 1 1966 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 2 3 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. 6 th 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 Ahmedabad Kolkata Saykha Ranihati 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. 16 th September, 2024) Corporate Office DIC India Limited Fusion Square, 5 th Floor 5A-5B, Sector 126, Noida - 201303 Uttar Pradesh, India Phone: +91 120 6361414 Email: [email protected] Registered Office DIC India Limited UB03, Mani Tower 31/41 Binova Bhave Road, Behala Kolkata - 700038, West Bengal Phone: +91 33 48128955 Email: [email protected] 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, 8 th 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: [email protected] 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-Speed UV 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