On 6 Nov 2026, D-Link (India) was priced at ₹404.70, or 13.0× trailing earnings, against an industry P/E of 40.6×, and the shares are 26% below their 52-week high. Sales and net profit grew 9.9% and 6.4% a year over 3 years; its ROCE of 27% is the highest among the 7 largest Communication Equipment peers. It carries very little debt, and its dividend yield is 6.4%. It is a small-cap company with a market cap of ₹1,437 Cr, ranked 11th of 24 Communication Equipment companies by market cap; the shares fell 7.5% over the past year.
- ₹408.05
- ₹410.70
- ₹401.25
- ₹412.25
- 43.9K
Health check
- ReturnsIn line
−7.5% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 13.0 vs industry 40.6.
- GrowthSteady
Sales +9.9%, profit +6.4% a year over 3 years.
- ProfitabilityStrong
ROCE 27.4% vs peer median 10.8%.
- Balance sheetFair
Practically debt-free, Piotroski 4 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,437 Cr
- Small cap
- P/E
- 13.0
- Industry 40.6
- Price to book
- 3.09
- Peers 8.15
- Dividend yield
- 6.42%
- ROE
- 23.5%
- Peers 16.6%
- ROCE
- 27.4%
- Peers 10.8%
- Debt to equity
- 0.03
- Debt ₹15 Cr
- EPS (TTM)
- ₹31.02
- Face value ₹2
- OPM (TTM)
- 8.1%
- Net margin 6.3%
- Sales growth
- +20.1%
- Latest quarter vs a year ago
- Profit growth
- +11.3%
- Latest quarter vs a year ago
- Price to sales
- 0.82
- EV/EBITDA 9.7
Strengths and risks
Strengths
- Return on equity of 23.5%.
- Return on capital employed of 27.4%.
- Practically debt-free.
- Dividend yield of 6.42%.
- Quarterly sales up 20.1% on a year ago.
About D-Link (India)
D-Link (India) Limited engages in the marketing and distribution of D-Link branded networking products for small and medium businesses, residential users, and service providers in India and internationally. It offers home networking products, such as Wi-Fi systems, 4G/5G, cameras, smart home, switches, and adapters, as well as switches, wireless, nuclias, IP surveillance, industrial switches, and accessories. The company also provides Wi-Fi routers and…
- Headquarters
- Mumbai
- Employees
- 249
- Sector
- Technology
- ISIN
- INE250K01012
- Website
- dlink.com
Price range
- Avg volume (3M)
- 1.1 L
- 1-year return
- minus 7.5%
- From 52-week high
- minus 26.3%
Peers · Communication Equipment
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| STLTECHSterlite Technologies | 719.90 | minus 5.00% | 37,018 | 52.4 | 65.8 | 8.0% | 22.0% | 0.22 | −11.8% | plus 530.2% |
| HFCLHFCL | 210.66 | minus 5.00% | 32,237 | 36.8 | 42.9 | 10.8% | 21.2% | 0.34 | 1.3% | plus 188.1% |
| ITIITI | 248.85 | minus 0.58% | 23,961 | 135.2 | 350.1 | 14.4% | −4.0% | 0.40 | 16.1% | minus 22.6% |
| ASTRAMICROAstra Microwave Products | 1,557.80 | minus 0.01% | 14,791 | 78.4 | 44.6 | 20.8% | 28.6% | 0.22 | 12.6% | plus 47.1% |
| TEJASNETTejas Networks | 417.20 | minus 1.59% | 7,422 | – | – | −29.5% | −23.2% | 1.97 | 6.1% | minus 21.7% |
| AVANTELAvantel | 138.69 | minus 1.24% | 3,686 | 190.0 | 76.9 | 8.2% | 24.7% | 0.31 | 12.9% | minus 16.3% |
| PACEDIGITKPace Digitek | 158.13 | minus 1.62% | 3,413 | 9.8 | 8.5 | 16.1% | 16.3% | 0.57 | 73.8% | minus 26.6% |
| DLINKINDIAD-Link (India) | 404.70 | minus 1.83% | 1,437 | 13.0 | 9.4 | 27.4% | 8.2% | 0.03 | 9.9% | minus 7.5% |
| Median of 7 peers | – | −1.59% | 14,791 | 65.4 | 55.2 | 10.8% | 21.2% | 0.34 | 12.6% | −16.3% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 377 | 395 | 444 | 457 | 452 | |
| 344 | 361 | 409 | 422 | 415 | |
| 33 | 34.5 | 35.1 | 34.8 | 37 | |
| 8.8% | 8.7% | 7.9% | 7.6% | 8.2% | |
| 3.6 | 3.6 | 3.9 | 4.7 | 3.3 | |
| 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | |
| 1.8 | 1.8 | 1.8 | 1.9 | 2 | |
| 34.4 | 36.1 | 36.8 | 37.2 | 37.9 | |
| 26.2% | 26.0% | 25.0% | 25.7% | 25.5% | |
| 25.4 | 26.7 | 27.6 | 27.6 | 28.3 | |
| 7.15 | 7.52 | 7.77 | 7.78 | 7.96 |
Profit & loss
- Sales CAGR 3Y
- +9.9%
- Profit CAGR 3Y
- +6.4%
- EPS CAGR 3Y
- +6.4%
- ROE
- 23.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,180 | 1,235 | 1,384 | 1,566 | |
| – | +4.7% | +12.0% | +13.1% | |
| 1,065 | 1,118 | 1,253 | 1,433 | |
| 115 | 117 | 131 | 133 | |
| 9.7% | 9.5% | 9.4% | 8.5% | |
| 3.5 | 5.3 | 6.5 | 3.4 | |
| 1 | 1 | 0.7 | 1.3 | |
| 5 | 6.3 | 6.9 | 7.2 | |
| 3.6 | 8.8 | 10.2 | 12.2 | |
| 116 | 124 | 140 | 140 | |
| 25.6% | 25.4% | 25.4% | 25.7% | |
| 86.4 | 92.6 | 104 | 104 | |
| – | +7.3% | +12.6% | minus 0.2% | |
| 24.32 | 26.09 | 29.37 | 29.31 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.1 | 7.1 | 7.1 | 7.1 | |
| 371 | 428 | 468 | 499 | |
| 10.1 | 7.7 | 4.2 | 14.8 | |
| 241 | 252 | 268 | 291 | |
| 629 | 695 | 748 | 811 | |
| 25 | 22.5 | 18.5 | 29.3 | |
| 4.1 | 4.3 | 9.8 | 2.6 | |
| 130 | 220 | 249 | 202 | |
| 470 | 449 | 471 | 578 | |
| 629 | 695 | 748 | 811 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.9 | 121 | 90 | 14.9 | |
| −5 | −66.7 | −5.9 | 65.8 | |
| −15.4 | −41.4 | −70.8 | −81.4 | |
| −14.6 | 12.4 | 13.3 | −0.7 | |
| −0.9 | −1 | −0.2 | −1.8 | |
| 5 | 120 | 89.7 | 13.1 | |
| −10.7 | −35.5 | −63.9 | −74.5 |
Shareholding pattern
- Promoters51.02%
- Public48.98%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 51.02% | 48.98% | 0.00 | |
| 30 Jun 2026 | 51.02% | 48.98% | 0.00 | |
| 31 Mar 2026 | 51.02% | 48.98% | 0.00 | |
| 31 Dec 2025 | 51.02% | 48.98% | 0.00 | |
| 30 Sep 2025 | 51.02% | 48.98% | – |
Major shareholders
Filings & events
News
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