D.B.Corp financials and balance sheet

NSE: DBCORPBSE: 533151MediaSmall Cap

₹147.42₹6.46 (4.20%)BSE ₹147.65

Share price at the NSE close on 23 Oct 2026. Previous close ₹153.88.

52-week range of traded prices to 23 Oct 2026

₹145.00Low, 23 Oct 2026₹280.55High, 27 Oct 2025

Market cap: ₹2,628 Cr859th largest listed
P/E: Earlier quarters restated in the year
P/B: 1.0
Dividend yield: 4.75%
ROCE: 14.6%
Debt to equity: 0.00
Volume, NSE: 1,10,56951.5% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.D.B.Corp annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹2,463 Cr, year to Mar 2019

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 4.9% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,356
Materials and goods−651
Employee costs−460
Other expenses−757
Operating profit488
Depreciation−100
Other income+85
One-off items0.0
Finance costs−26
Profit before tax448
Tax−116
Net profit332

What the company owns

Plant, investments and other assets₹1,581 Cr
Cash and bank₹876 Cr
Receivables₹464 Cr
Inventory₹215 Cr
Current investments₹60 Cr

What pays for it: net worth and liabilities

Net worth₹2,429 Cr
Other liabilities₹563 Cr
Owed to suppliers₹184 Cr
Borrowings₹21 Cr

D.B.Corp business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.D.B.Corp segment results by quarter

Revenue by segment

₹2,356 CrTotal

Printing Publishing and Allied Business₹2,198 Cr93.3% of total
Radio₹158 Cr6.7% of total

Profit by segment

Printing Publishing and Allied Business₹380 Cr92.3% of total
Radio₹32 Cr7.7% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Printing Publishing and Allied Business
Revenue, ₹ crore
2,086
1,426
1,658
1,997
2,243
2,174
2,198
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
366
207
194
206
507
420
380
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Radio
Revenue, ₹ crore
155
138
82
112
133
159
166
158
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
40
27
1
16
26
41
41
32
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	2,464	2,224	1,508	1,769	2,130	2,403	2,340	2,356
Company revenue, as in its results	2,463	2,224	1,508	1,769	2,129	2,402	2,339	2,356
Revenue	–	2,086	1,426	1,658	1,997	2,243	2,174	2,198
Revenue growth	–	–	−31.7%	16.3%	20.5%	12.4%	−3.1%	1.1%
Profit	–	366	207	194	206	507	420	380
Profit growth	–	–	−43.5%	−6.2%	6.1%	146.4%	−17.3%	−9.4%
Margin	–	17.5%	14.5%	11.7%	10.3%	22.6%	19.3%	17.3%
Return on capital	–	22.0%	13.1%	13.9%	15.9%	45.5%	39.6%	32.4%
Assets	–	1,961	1,847	1,845	1,789	1,790	1,793	1,847
Liabilities	–	298	267	446	494	673	731	672
Capital employed	–	1,663	1,580	1,399	1,294	1,116	1,061	1,175
Revenue	155	138	82	112	133	159	166	158
Revenue growth	–	−10.6%	−40.3%	35.3%	19.3%	19.6%	4.4%	−5.0%
Profit	40	27	1	16	26	41	41	32
Profit growth	–	−31.7%	−95.5%	1,177.3%	63.5%	60.2%	1.3%	−23.1%
Margin	25.9%	19.8%	1.5%	14.0%	19.2%	25.7%	24.9%	20.2%
Return on capital	25.7%	15.9%	0.8%	14.5%	29.4%	50.5%	59.8%	40.4%
Assets	211	227	200	202	181	173	161	168
Liabilities	55	55	38	94	94	92	91	89
Capital employed	156	172	162	108	87	81	69	79
Revenue	2,244	–	–	–	–	–	–	–
Profit	379	–	–	–	–	–	–	–
Margin	16.9%	–	–	–	–	–	–	–
Return on capital	23.4%	–	–	–	–	–	–	–
Assets	1,920	–	–	–	–	–	–	–
Liabilities	302	–	–	–	–	–	–	–
Capital employed	1,618	–	–	–	–	–	–	–
Revenue	48	–	–	–	–	–	–	–
Profit	−4	–	–	–	–	–	–	–
Margin	−8.7%	–	–	–	–	–	–	–
Return on capital	−30.2%	–	–	–	–	–	–	–
Assets	24	–	–	–	–	–	–	–
Liabilities	10	–	–	–	–	–	–	–
Capital employed	14	–	–	–	–	–	–	–
Revenue	17	–	–	–	–	–	–	–
Profit	6	–	–	–	–	–	–	–
Margin	33.1%	–	–	–	–	–	–	–
Return on capital	2,291.8%	–	–	–	–	–	–	–
Assets	0	–	–	–	–	–	–	–
Liabilities	0	–	–	–	–	–	–	–
Capital employed	0	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.D.B.Corp quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 23 Jun	Mar 2021Filed 18 Jun	Mar 2022Filed 18 May	Mar 2023Filed 6 Jun	Mar 2024Filed 5 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Revenue from operations	2,258	2,328	2,463	2,224	1,508	1,769	2,129	2,402	2,339	2,356
	1,616	1,765	1,958	1,742	1,203	1,466	1,807	1,779	1,794	1,867
Materials and goods bought	661	731	924	766	422	553	851	735	642	651
Employee costs	429	436	435	418	379	375	387	432	445	460
Other expenses	526	598	600	558	402	537	569	612	707	757
Operating profit before depreciation	642	564	504	482	305	303	322	623	545	488
Operating margin	28.4%	24.2%	20.5%	21.7%	20.2%	17.1%	15.1%	25.9%	23.3%	20.7%
Materials, % of revenue	29.3%	31.4%	37.5%	34.5%	28.0%	31.3%	40.0%	30.6%	27.5%	27.6%
Employee costs, % of revenue	19.0%	18.7%	17.7%	18.8%	25.2%	21.2%	18.2%	18.0%	19.0%	19.5%
Other expenses, % of revenue	23.3%	25.7%	24.4%	25.1%	26.7%	30.4%	26.7%	25.5%	30.2%	32.1%
Depreciation and amortisation	86	92	99	121	115	110	112	114	104	100
Operating profit after depreciation	556	471	406	361	190	193	210	509	441	388
Other income	17	24	17	12	14	20	39	80	82	85
Finance costs	7	7	9	25	24	18	21	24	25	26
Profit before one-off items and tax	565	488	414	348	180	195	228	565	499	448
One-off items	0	0	0	0	13	0	0	0	0	0
Profit before tax	565	488	414	348	193	195	228	565	499	448
	191	164	140	73	52	52	59	140	128	116
Current tax	193	165	148	94	62	58	69	152	135	122
Deferred tax	−2	−1	−9	−21	−10	−6	−10	−12	−8	−6
	375	324	274	275	141	143	169	426	371	332
Belonging to the company's shareholders	375	324	274	275	141	143	169	426	371	329
Other comprehensive income	–	–	2	−19	−2	−7	−2	−11	−11	−3
Total comprehensive income	–	–	275	256	139	135	167	415	360	329
Net margin	16.6%	13.9%	11.1%	12.4%	9.4%	8.1%	7.9%	17.7%	15.9%	14.1%

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019Filed 16 May	Mar 2020Filed 23 Jun	Mar 2021Filed 18 Jun	Mar 2022Filed 18 May	Mar 2023Filed 6 Jun	Mar 2024Filed 5 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May	Sep 2026Half yearFiled 15 Oct
	1,827	1,678	1,823	1,882	1,948	2,221	2,225	2,429	2,508
Share capital	175	175	175	177	178	178	178	178	178
Reserves	1,652	1,503	1,648	1,705	1,770	2,043	2,046	2,251	2,330
Borrowings	51	168	56	23	32	23	58	21	2
	431	564	402	407	388	469	520	431	437
Trade payables	296	277	230	241	214	236	242	184	0
Other financial liabilities	10	39	40	76	68	98	109	106	317
Other liabilities	53	50	48	42	46	80	77	84	81
Provisions	19	23	20	20	22	26	27	30	30
Tax owed	3	7	8	7	6	6	7	6	7
	136	244	251	248	243	303	310	337	322
Other financial liabilities	57	208	223	216	217	264	260	274	256
Other liabilities	0	–	0	0	1	1	0	4	3
Provisions	0	4	8	20	0	38	50	59	63
Deferred tax	79	32	21	12	26	0	0	0	0
Total assets	2,394	2,486	2,476	2,537	2,579	2,993	3,055	3,197	3,267
	1,251	1,381	1,352	1,246	1,611	1,614	1,119	1,489	1,195
Plant in use, after depreciation	806	629	571	550	493	457	428	630	–
Plant being built	1	1	0	0	1	2	10	3	–
Intangible assets	98	90	81	72	64	527	504	410	368
Goodwill	2	2	2	2	2	2	2	2	2
Intangible assets being developed	0	–	0	0	0	0	0	7	5
Property held to earn rent	80	85	94	100	93	74	63	55	51
Investments	37	18	14	14	15	11	8	8	8
Loans given	0	30	25	0	0	0	0	0	0
Other financial assets	37	36	38	39	475	499	50	309	50
Deferred tax	1	5	5	13	0	17	26	33	30
Other assets	188	485	521	455	468	25	29	33	51
	1,143	1,104	1,124	1,291	967	1,379	1,935	1,708	2,072
Inventories	250	253	233	215	214	187	254	215	264
Trade receivables	637	631	497	479	466	510	452	464	522
Cash and cash equivalents	132	34	120	113	81	85	122	106	71
Other bank balances	1	102	192	404	67	466	886	770	953
Current investments	0	0	0	0	51	55	60	60	95
Loans given	31	1	0	0	0	0	0	0	0
Other financial assets	0	1	1	6	19	15	91	36	104
Other assets	93	84	80	74	71	60	72	57	63
Net debt	−82	33	−256	−494	−165	−584	−1,010	−915	−1,117

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021Filed 18 Jun	Mar 2022Filed 18 May	Mar 2023Filed 6 Jun	Mar 2024Filed 5 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May	Sep 2026Half yearFiled 15 Oct
	374	371	244	579	414	365	96
	435	438	316	729	551	493	151
	84	94	−50	32	−26	−45	−92
Receivables	111	−6	−15	−79	36	−33	−67
Inventories	19	18	1	27	−66	38	−50
Payables	−43	59	−22	23	7	−58	28
Other working capital	−4	22	−14	60	−3	8	−3
Tax paid	−61	−68	−72	−150	−137	−128	−55
Capital spending	46	30	25	47	49	143	44
Free cash flow	328	341	219	532	365	222	52
	−137	−224	−144	−380	−11	−173	2
Plant and property sold	3	0	1	5	1	1	0
Interest received	8	9	13	11	39	126	17
	−151	−155	−132	−194	−366	−208	−132
Borrowings raised	161	100	73	71	99	79	2
Borrowings repaid	−273	−135	−64	−81	−65	−117	−21
Interest paid	−25	−18	−21	−24	−25	−26	−14
Lease payments	−15	−16	0	−19	−20	−20	0
Dividends paid	0	87	106	142	356	125	89
Shares bought back	0	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0	0
Net change in cash	86	−7	−32	5	37	−16	−35

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.D.B.Corp dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 23 Jun	Mar 2021Filed 18 Jun	Mar 2022Filed 18 May	Mar 2023Filed 6 Jun	Mar 2024Filed 5 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Earnings per share	₹20.27	₹17.61	₹15.32	–	₹8.08	₹8.12	₹9.53	₹23.90	₹20.82	₹18.63
Diluted earnings per share	₹20.22	₹17.58	₹15.31	–	₹8.04	₹8.09	₹9.52	₹23.87	₹20.81	₹18.62
Dividend per share	₹4.00	₹1.00	₹10.00	₹10.00	₹3.00	₹5.00	₹6.00	₹13.00	₹12.00	₹7.00
Book value per share	–	–	₹104.45	₹95.93	₹104.19	₹106.32	₹109.45	₹124.71	₹124.85	₹136.26
Dividend payout	19.6%	5.7%	63.9%	63.6%	37.1%	62.1%	63.2%	54.4%	57.6%	38.0%
Shareholder yield	–	–	–	–	0.0%	5.8%	6.1%	3.0%	8.6%	3.8%
Market cap at the year end (₹ crore)	7,009	5,732	3,270	1,393	1,572	1,504	1,736	4,689	4,123	3,315

Earnings per share is left blank for the year to Mar 2020: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Consolidated, years to March.D.B.Corp PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 23 Jun	Mar 2021Filed 18 Jun	Mar 2022Filed 18 May	Mar 2023Filed 6 Jun	Mar 2024Filed 5 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 11 May
Revenue growth	10.0%	3.1%	5.8%	−9.7%	−32.2%	17.3%	20.4%	12.8%	−2.6%	0.7%
Operating profit growth	20.1%	−12.2%	−10.6%	−4.5%	−36.7%	−0.6%	6.4%	93.5%	−12.6%	−10.4%
Net profit growth	26.3%	−13.6%	−15.5%	0.4%	−48.6%	0.8%	18.6%	151.7%	−12.8%	−10.5%
Earnings per share growth	25.5%	−13.1%	−13.0%	–	–	0.5%	17.4%	150.8%	−12.9%	−10.5%
	–	–	15.0%	15.7%	8.1%	7.7%	8.8%	20.4%	16.7%	14.1%
	–	–	–	0.7 pts	−7.6 pts	−0.4 pts	1.1 pts	11.6 pts	−3.7 pts	−2.6 pts
From the net margin	–	–	–	1.7 pts	−3.8 pts	−1.1 pts	−0.1 pts	10.9 pts	−2.1 pts	−2.0 pts
From asset turnover	–	–	–	−1.9 pts	−4.0 pts	1.1 pts	1.4 pts	0.7 pts	−1.9 pts	−0.4 pts
From borrowing	–	–	–	0.9 pts	0.1 pts	−0.4 pts	−0.1 pts	0.0 pts	0.3 pts	−0.2 pts
Return on capital employed	–	–	21.6%	19.5%	10.1%	10.1%	10.6%	22.7%	19.3%	15.9%
Cash conversion	–	–	–	–	264.5%	260.0%	144.4%	136.0%	111.7%	110.0%
Interest cover	74.6	70.4	47.7	14.4	7.8	10.6	9.9	21.4	17.8	15.0
Debt to equity	–	–	0.03	0.10	0.03	0.01	0.02	0.01	0.03	0.01
Receivable days	–	–	94	104	120	99	80	77	71	72
Inventory days	–	–	99	120	202	142	92	93	144	121
Payable days	–	–	117	132	199	159	92	117	138	103
Cash conversion cycle, days	–	–	76	92	123	82	80	53	77	90
Working capital days	–	–	93	94	113	81	71	50	63	56
Asset turnover	–	–	1.03	0.91	0.61	0.71	0.83	0.86	0.77	0.75
Assets per rupee of net worth	–	–	1.31	1.39	1.42	1.35	1.34	1.34	1.36	1.34
Sales per rupee of plant	–	–	3.06	3.53	2.64	3.22	4.32	5.26	5.47	3.74
Capital spending to depreciation	–	–	–	–	0.40	0.27	0.23	0.41	0.47	1.43
Plant being built, % of plant in use	–	–	0.1%	0.1%	0.1%	0.0%	0.2%	0.5%	2.3%	0.4%

No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 10.5%
Cash from operations against operating profit: 74.8%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	1.4%	9.3%	3.4%
Profit growth, yearly rate	1.0%	18.4%	24.8%
Return on equity, average	–	13.6%	17.1%
Return on capital employed, average	–	15.7%	19.3%
Operating margin, average	21.7%	20.4%	23.3%
Net margin, average	12.7%	12.7%	15.9%
Asset turnover, average	–	0.79	0.80
Cash conversion cycle, days, average	–	76	73
Interest cover, average	29.0	14.9	18.1
Debt to equity, average	–	0.01	0.01

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	1,973	1,358	365
Cash from investing	−931	−564	−173
Cash from financing	−1,055	−769	−208
Capital spending	294	238	143
Dividends paid	817	623	125
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	422	249	79
Borrowings repaid	462	262	117

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	5	6	5	7	5	4
Altman Z-scorePublished threshold 1.1	–	–	8.77	6.59	7.60	8.06	7.60	8.57	9.19	9.23
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.00	−2.91	−2.27	−2.75	−2.91	−2.30
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−3.88	−0.18	2.70	8.13	−1.05	4.46
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	2.18	1.62	1.28	1.20
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	8.71	11.00	−20.91	−23.14	−3.33	−8.74	1.97
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	18.36	37.30	−39.07	−54.22	0.94	48.13	−16.32
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−0.37	−0.27	−0.04	0.44	−0.62	3.73	−2.96
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.01	0.00	0.02	0.03	0.13	0.01
Effective tax ratePublished threshold 17.16 per cent	33.72	33.68	33.81	21.02	26.82	26.76	25.79	24.75	25.59	25.86
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−8.02	−5.92	−1.78	−1.91	−2.63

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
25 Sep 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash CreditLong-term scale	CARE AA+Review, Re-affirm	Stable	148.25
25 Sep 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - LT/ ST-BG/LCLong and short-term scales	CARE AA+ / CARE A1+Review, Re-affirm	Stable	126

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.