{"id":183485,"date":"2026-05-19T07:10:44","date_gmt":"2026-05-19T11:10:44","guid":{"rendered":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-doms-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-19T07:14:33","modified_gmt":"2026-05-19T11:14:33","slug":"doms-industries-ltd-doms-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-doms-q4-2026-earnings-call-transcript\/","title":{"rendered":"Doms Industries Ltd (DOMS) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"<p><em><strong>Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n<p><strong>Doms Industries Ltd (NSE: DOMS) Q4 2026 Earnings Call dated <span id=\"date\">May. 19, 2026<\/span><\/strong><\/p>\n<h2>Corporate Participants:<\/h2>\n<p><strong>Rahul Shah<\/strong> \u2014 <em>Chief Financial Officer<\/em><\/p>\n<h2>Analysts:<\/h2>\n<p><strong>Aniruddha Joshi<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Aradna Jain<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Percy<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Jinesh Joshi<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Sneha Talreja<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Mohsam Shah<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p><strong>Kunal Voda<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<h2>Presentation:<\/h2>\n<p><strong>Operator<\/strong><\/p>\n<p>Ladies and gentlemen, good day and welcome to the Doms Industries Limited Q4FY26 conference call hosted by ICICI Securities Limited. This presentation which Tom Dom&#8217;s Industries Limited has uploaded on the stock exchange and their website and the discussions during this call contains or may contain certain forward looking statements concerning dom&#8217;s Industries Limited business prospects and profitability which are subject to several risks and uncertainties and the actual results could materially differ from those in such forward looking statements.<\/p>\n<p>As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anirudh Joshi from ICICI Securities. Thank you. And over to you sir.<\/p>\n<p><strong>Aniruddha Joshi<\/strong> \u2014 <em>Analyst<\/em><\/p>\n<p>Yeah, thanks Aaron. On behalf of ICICI securities, we welcome you all to Q4, FY26 and FY26 results conference call of Doms Industries Limited. We have with us today senior management represented by Mr. Rahul Shah, Chief Financial Officer. Now I hand over the call to Rahul Bhai for his initial comments on the quarterly performance and then we will open the floor for question and answer session. Thanks. And over to you, Rahul Bhai.<\/p>\n<p><strong>Rahul Shah<\/strong> \u2014 <em>Chief Financial Officer<\/em><\/p>\n<p>Thank you Anirudh bhai. Good afternoon and a very warm welcome to everyone. Thank you for taking the time to join our Q4 and FY26 earnings call. Joining me on this call is the team from Marathon Capital, our investor relations advisor. I hope that everyone had an opportunity to go through the investor presentation and the results release that has been uploaded on the exchanges and our company&#8217;s website. To begin with, let me take you through the highlights for Q4 and FY26 performance. I am pleased to share that we have closed the year on a positive note delivering steady performance across key metrics.<\/p>\n<p>Our revenue for the year grew by 21.6% surpassing our full year guidance. Some of the key drivers aiding the growth were first new product launches across categories with attractive, ergonomic and user friendly designs that resonated strongly with consumers and gained strong traction. These new launches include pencil boxes and well designed school bags in time for the BTS season. Exciting new range of pens and mechanical pencils, stamp pads in the office supply segment and a number of differentiated SKUs in scholastic stationery, Scholastic art, hobby and craft and kits and combo packs.<\/p>\n<p>The new range of paper stationery products with fresh designs were also well appreciated. By our consumers. Secondly, we witnessed sustained growth across all our product categories. Growth in certain categories which were aided by capacity additions during the year outpaced the growth in other categories. Nevertheless, through improvement in our product offering and increase in ASPs, we were happy to state that other categories where no substantial capacity additions were made during the past year also delivered positive sales growth.<\/p>\n<p>Thirdly, the demand scenario in the domestic market continues to remain beyond and was a key contributor to growth underpined by strong entrance, distribution network, robust brand equity and a well diversified product portfolio. At the same time, exports also delivered steady double digit growth despite global uncertainties including trade tensions, geopolitical conflicts and regional instability, reflecting continued demand for our products in international markets as well. The love, trust and acceptance that our consumers have shown towards our brand and products is unparalleled.<\/p>\n<p>Building on this bond, we continue to focus on strong consumer engagement through active participation in events, conferences, exhibitions in India as well as globally. I&#8217;m pleased to share that our social media community has scaled significantly. YouTube subscribers have now crossed 4 million and Instagram followers are over 170,000, reinforcing DOMS as one of the most admired brands in stationery and art materials. Coming to the details of our financial performance, firstly on Q4 performance, revenue for Q4FY26 grew by 18.7% to 604 crores highlighting our sustained growth trajectory primarily led by burned demand scenario in the domestic market with higher growth coming from office supplies, hobby and craft and back to school aided by increased capacities and new launches.<\/p>\n<p>Consumption margins remain broadly stable despite raw material volatility linked to the West Asia crisis intensified in the later part of the quarter. The consumption was primarily of lower cost inventory built as a part of our strategic stocking. EBITDA for Q4FY26 grew by 14.4% to 100.9 crore with an EBITDA margin at 16.7% in Q4FY26 as compared to 17.3% in Q4FY25. The moderation in EBITDA margin is partly due to the onset of the seasonal slowdown in the baby hygiene segment which impacted fixed cost absorption.<\/p>\n<p>Further, the increase in contribution of E commerce sales in the baby hygiene segment also led to higher advertising and marketing and freight expenses. PAT for Q4FY26 grew by 13.5% to 58.2 crores and PAT margin for the same period stood at 9.6% compared to 10% in Q4FY25. Coming to our performance for the financial year, revenue from operations for financial year 2026 grew by 21.6% to 2326.4 crores as compared to FY25, surpassing our guided range led by healthy growth both from domestic market as well as direct export of Brom&#8217;s branded range of stationery products.<\/p>\n<p>Consumption margins were broadly consistent for FY26 at 43.6% similar to FY25. We are pleased to report an EBITDA growth on an absolute basis of 15.5% for the full year to 402.6 crore. With EBITDA margin At the higher end of our guidance, the ebitda margins softened to 7.17.3% as compared to 18.2% in FY25 on account of higher unique lend contribution in the overall consolidated operations. PAT for FY26 grew by 12.2% to 239.6 crores. Frat growth was relatively lower than revenue growth primarily due to decline in other income.<\/p>\n<p>This was a result of higher utilization of cash towards capital expenditure which aligns with our disciplined growth focused capital allocation strategy. Despite this, pack margin for the year remain healthy at 10.3% reflecting the underlying strength of our core operations. Coming to our expansion initiatives, we continue to focus towards building the base for our future growth in terms of capacity creation and expansion. Our CAPEX was primarily towards the development of our 45 acre land parcel acquisition of additional land parcels both in Umargao and Jammu for our future expansion as well as procurement and installation of plant and machinery in the existing infrastructure as well as for the commercialization of the 45 acre facility.<\/p>\n<p>The company totally spent around 292 crores in FY26 towards these objectives. As a part of the phase development of our 45 acre facility, the first building is on track for completion in June 2027 with commercial production expected to commence towards the end of Q2FY27. Significant investment was also done in expansion of our moulding capacities, writing instruments as well as in the adhesive manufacturing infrastructure. Speaking about our outlook as we enter the new financial year, we do so in an environment of elevated uncertainty and volatility primarily stemming from the ongoing developments in West Asia which has resulted in significant increase in prices of raw material.<\/p>\n<p>As a part of our operating network framework, we have initiated a set of calibrated measures to minimize the impact of such geopolitical disruptions. Our first priority is to maintain continuity of our manufacturing and safeguard our supply chain. We are actively working to minimize any margin impact and have started implementing focused measures as the situation evolves. These include balanced and gradual approach to pricing and continued focus on cost efficiencies. The overriding principle is that any pricing action must be taken in a way that does not impact our market share or competitive positioning.<\/p>\n<p>Our approach continues to be measured and disciplined, drawing on past experience in navigating periods of disruption where a focused and prudent response has supported sustainable growth over time. With a strong brand distribution reach, new products pipeline and capacity investments underway, we believe we are well positioned to deliver on consistent growth. Therefore, despite the current geopolitical and regulatory uncertainties, we have lined up a capex plan between 250 to 275 crores for FY27.<\/p>\n<p>Thank you. And with this I would now request to open the floor for question and answers.<\/p>\n<h2>Questions and Answers:<\/h2>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. We will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. Our first question comes from the line of aradna Jain with 361 capital. Please go ahead.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Hi. Thank you for the opportunity and congratulations on the continued good set of performance. My first question is the core stationery segment delivered 19% growth this quarter. Could you help us understand whether there was any element of channel stocking ahead of the raw material price increases that led to this kind of growth or it was entirely driven by the underlying consumption demand. And related to that, how was the secondary sale trend versus the primary sales during the quarter with this also if you could highlight which are the specific categories or SKUs where we are seeing those kind of price hikes currently and how much is the price hike that we&#8217;ve taken?<\/p>\n<p>That&#8217;s my first question.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Hi Arana. Thank you. So Arana, in Q4FY26 revenues from operations were about 604 crores total growing at about 18.7%. Our core stationary business also grew at similar levels. This was not a part of any channel stocking or anything because you know we closely monitor our primary sales vis a visa, the primary and our secondary sales. This was I think, you know, it&#8217;s the back to school season and in the season you know there is always an undercurrent for higher demand of products. So that was what we&#8217;ve seen and nothing with respect to any channel stocking for expected price rise or something like that.<\/p>\n<p>In terms of your second question with respect to, you know, raw material, you know, to mitigate the impact of raw material prices, there have. The company has seen, the company has taken certain calibrated steps, you know, where we are gradually passing on some of these to our consumers. As a first step, what we&#8217;ve done is we wherever we could believe we could rationalize our channel margins or we could rationalize the schemes and discounts, we&#8217;ve taken that step, which has resulted in about 4 to 5% increase which has been passed to consumer.<\/p>\n<p>And this is across different products, not any specific SKU or product category.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Understood. And the second question is, so if the current geopolitical situation sustains for say another two to three months and the crude inflation remains at the current elevated levels that they are, would our would EBITDA margins take a hit going forward or would we still continue to guide at the 16.5% to 17.5% band?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So the near term environment remains uncertain. A significant portion of our input basket is directly linked to crude derivatives, which makes cost trends especially sensitive and highly volatile to the developments in the West Asia conflict. While the situation has improved versus the peak uncertainty in the month of April, the environment is still very volatile and far from stable. On an average, we have seen our raw material cost increase by approximately 15 to 17% while the pricing actions taken so far are around 4 to 5% which naturally creates a near term gap.<\/p>\n<p>But given the current commodity environment and the volatility arising, we do expect margins in Q1 to remain slightly under pressure versus the corresponding period last year. But we do not view this as a structured revision of our margin long term margin profile, but more of temporary. Our focus currently is to maintain healthy growth momentum, ensure we protect and improve our market share share while simultaneously driving cost efficiencies through calibrated pricing action. Hence, providing a definitive margin profile for FY27 at this point of time would be a little difficult.<\/p>\n<p>But you know, in the near term we might see certain impacts, but in the long term we believe that structurally the company would continue to do the same sort of a margin profile.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Understood. Last question from my end. On the office supply side, we&#8217;ve delivered very great growth over the last few quarters. What are the main major growth drivers in the office supplies which is leading to. I mean, I know it&#8217;s Penn, but if you could throw some light of how the pen segment has been performing and also if you could help us understand what is our current market share in the organized office supply space, specifically pens and how do we see that evolving over the next three to five year period.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>You know, we along with ballpoint pens, as you rightly said, another category within the office office supplies broad category was highlighters. Again a product which we launched towards the end of last financial year. That product category is also done well. So highlighters along with ball pens has helped to increase or resulted in the increase in sales of the office supply segment. We continue to invest significantly in our writing instrument segment, especially ballpoint pens and highlighters.<\/p>\n<p>We believe both these segments have huge headroom for growth and once new capacity additions come in, plus the capacity addition that happened towards the later half of the year last year when you know they are available for utilization throughout the current year, we believe these segments to continue to grow. We typically don&#8217;t evaluate or measure the market share or the size of the market number so would not be able to share absolute details on it. But we believe there is significant headroom to grow in the office supply segment and the company is taking the required capital plans to increase capacities in this segment.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you participants. In the interest of time and fairness to others, please restrict yourselves to two questions. For any more questions you may rejoin the queue. The next question comes from the line of Percy Pangtaki with IIFL Securities. Please go ahead.<\/p>\n<p><strong>Percy<\/strong><\/p>\n<p>Hi, just wanted to get a sense in the last such inflation that we saw, which was around the Ukraine war I think, FY23. If you can just tell us what was the total price increases over whatever 1215 month period that you had pushed through at that point of time compared to the 4 to 5% that we have taken now.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Hi, I will not have a definite answer to what we did in the past in terms of the exact numbers, but the approach was very similar. It was an approach which was, you know, taking calibrated and gradual measures. The first thing that we typically do in such a scenario is try to figure out what scheme discount or margin rationalization that we can do. Second is then we do selective and gradual MRP increases. You know, these are done only after, you know, the scheme rationalization, margin rationalizations are done.<\/p>\n<p>So we evaluate and then take selective balance and gradual direct MRP increases in the branded product segment like ours. You know, sometimes it becomes very difficult to take any immediate and frequent price changes. So hence we believe that MRP changes should be triggered only when you exhausted all other options.<\/p>\n<p><strong>Percy<\/strong><\/p>\n<p>No, I get the broad approach, Rahul, but since you are there at that time, even if you don&#8217;t know the exact number, some kind of ballpark idea you would have what Kind of price increases, including scheme rationalization, etc at a net realization level. What was the increase that we have taken<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>At that point of time? Personally one, you know, our dependence on polymers in our total raw material basket was not that very large because we were just about to enter the pen segment that time. That time, you know, primary sales used to come from scholastic stationery and scholastic art, so the dependence was less. But having said that, at that point of time also we&#8217;ve taken about 4 to 5% increase across the impacted products. And you know, what happens is certain inflammatory cycles are structural and driven by long term demand supply imbalances, while others are more event driven and volatile like what we are seeing right now.<\/p>\n<p>So in such an environment, our pricing actions, you know, have always been in a phased manner rather than abrupt price increases. So similar action we taken during the Ukraine, Russia war as well as if you see during the COVID disruption where for some time the prices had increased significantly. And what we&#8217;ve seen in the past that whenever we&#8217;ve taken aggressive pricing moves can, you know, sometimes lead to loss of shelf space to new entrants and existing competitors. Hence we would want to be a little balanced and gradual in this approach which we believe will support long term sustainable growth both in revenues and margins.<\/p>\n<p><strong>Percy<\/strong><\/p>\n<p>And if there is a gap between the cost inflation and the price increase we have taken, and there is margin pressure on account of that, what are the drivers or levers that you have in order to sort of at least partially mitigate that margin pressure and to what extent you can mitigate? Supposing if the overall gross margin is down by x percent, I mean x x amount, will it be half of that that can be mitigated or is it 75% or roughly what, what amount can you mitigate of the pressure?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Eventually we believe that we will be able to mitigate all of these, these pressures, but it will have to come in a gradual manner. That is what we are trying to say. You know, first thing, what we typically do is evaluate that in our current margin profile, operating structure, what are the cost efficiencies. We can get, you know, restrict certain expenses like marketing, advertising, be very efficient in such, in such times you try to be efficient with these. Then like I said, we work very closely with our channel partners and you know, with constant interaction and our consultative process with them.<\/p>\n<p>We try to rationalize the schemes, rationalize the product offering and then look at MRP increases in the past also when you know there was been a sustained price increase and after the, they had stabilized towards the higher end of the increase. Then we had taken calls to increase our MRP of our products. Also. That&#8217;s how pencils moved from 55 a pack to 60 rupees a pack.<\/p>\n<p><strong>Percy<\/strong><\/p>\n<p>Right? Okay. Yeah, that&#8217;s all from me. Thanks Raul.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>The next question comes from the line of Chignesh Joshi from PL Capital. Please go ahead.<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>Yeah, thanks for the opportunity. Sir. My first question is on the RM basket, can you share what proportion of our RM basket is crude linked? And secondly, out of the 377 crores of inventory on the balance sheet, can you share how much of it is the RM inventory?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Basically to answer your first question, you know we would categorize our raw material basket into three segments. One would be about which has a direct link to crude and its derivatives which should be roughly about 40 odd percent. Then there is about 30% which is indirect linkage. When I mean indirect linkage means, you know, probably in manufacturing of that raw material there are some crude derivatives which are used. And third would be having something like a minimalistic insight. So that&#8217;s how the raw material basket is structured.<\/p>\n<p>When I compare the data from the time this geopolitical tension started till about 15th of May on a weighted average basis, you know, we think that there has been a inflation of about 15 to 20% in the raw material basket. Putting across the weights in the purchase. Dinesh, your second question was. Sorry,<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>RM inventory. Out of that 377 crores of inventory that we have.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Right. So out of the 377crores of inventory that we have about 140 would be in terms of raw material and packing material around 55 would be in terms of working process and the rest is finished goods, stock in trade, etc.<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>Understood. And secondly, how are we trying to tackle this RM inflation, especially in spins? So I believe we operate at two price points which is 5 rupee and 10 rupee. Now even if I randomly assume a 10% hike, the revised MRP could be 6 and 11. And these price points may not be very convenient to operate given the change issue. So I mean is it safe to assume that we are absorbing the polymer inflation in the pens category?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So Jitesh, what has happened is if you see, you know, the market has evolved a lot. You know, definitely earlier times the market was where single pen used to be sold. But over a period of time and especially with afterdog directory, you know what we&#8217;ve done is let&#8217;s say we&#8217;ve made packs of 5 pence which is one of our high selling SKUs today in that if you remember earlier also the 5 pieces packs were always priced at 30 rupees. That seems to be like a few 6 rupees per pen. But the way it was structured in the market was as if it was a five rupee pack.<\/p>\n<p>So you know, such decisions that we had taken in the past has really helped us because now you just need to revise that to like a 6 rupee MRP product. Right. So that is what, that&#8217;s how the margin rationalization in the channel is helped us in the initial phase of this uncertainty. Okay, like a 30 rupee pack. Then you&#8217;ll make it like if you have to further increase it, you make it a 35 rupee pack. So then you in a way try to mitigate the impact of coinage issue.<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>Okay, so just one follow up on on this bit. I mean what proportion of our pens are sold in the patch that you mentioned? And one related bit on the RM inflation is that while we have seen inflation hit us in the month of March, seen gross margins expand on YY basis but EBITDA margin has compressed. So if you can just explain this bit as well. Hello? Am I audible?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Sorry, can you hear me?<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>No sir, I did not hear your response.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Okay. Okay. So gross margins for the quarter were largely steady but EBITDA declined due to higher operating cost. The main reason was increased contribution from E commerce sales in our baby hygiene business which is done through Uniqlen which has, you know, this business, the E commerce business has a slightly higher selling and distribution cost structure including digital marketing spends. While we take very, you know, we are happy that E commerce business is growing because it shows that the repeat order levels have increased.<\/p>\n<p>But at the same time because of this there was slight EBITDA margin compression despite stable gross margins. And going forward, once, you know, once the unique land business becomes like a steady business then this would also get absorbed.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Sneha with Novama Wealth Management. Please go ahead.<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Hi team, thanks a lot for the opportunity. You mentioned a lot on unique plan that you know, margins have actually deteriorated. One of the reasons is unique plans operations. Where are we in terms of margins? Only of the unicorn basis.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Hi Sneha, where are we on the margin profiles?<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Yes, for Uniqland.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So what are the margins for Uniclan?<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Yeah, for the quarter.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So in Q4 unique lens revenues were about 55.9 crores and EBITDA margins were close to 6.3%<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Which last quarter was more than 78. Right.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Which was around 7.5% last quarter means fourth quarter of FY25, right?<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>No, I was quarter, unquote third quarter.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Yeah, third quarter because this is, it was much higher, close to 10%. Because Uniclean is a seasonal business, the third quarter is the strongest for the company and is the highest EBITDA. So in that quarter the EBITDA was close to 12% actually which is now at about 6.3%.<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Understood. So that explains some increase in your, you know, costing. Yeah.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>And if you compare it with the previous year, fourth quarter of previous year there also, you know, the margins, EBITDA margins in unique land were around 7.5% which has come down to 6.3% on account of like I said, you know, increasing E commerce sales. And as this business evolves we will try to mitigate this impact. Also<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Understood. And while a lot is already being discussed on the raw material pricing and you know, margins taking a hit and of course you&#8217;re not giving any guidance at this point of time for FY27. Can we just get an indication that you know, we&#8217;ve already been in this for close to 40, 50 days now. What would have been the current margin levels for the company like an on gross margin level? How much is the impact you&#8217;re seeing? I understand you&#8217;re partially passing it on and it&#8217;s an ongoing process where MRP would be changing gradually or changing the discounting system.<\/p>\n<p>But if I have to make something, where are we currently in terms of passing it on?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>You very well know the volatility is still high. There has been high increases followed by substantial decreases also and again certain prices starting to increase again and you know, in a way always like a catch up approach that we have to do because once the raw material prices increase and then you take actions in terms of pricing. So from that perspective it becomes a little difficult, you know, to forecast something on a sitting today. But like I said, we&#8217;ve seen about 15 to 20% inflation and 4 to 5% has already been passed and this 15 to 20% was peak inflation.<\/p>\n<p>After that we&#8217;ve also seen some amount of decrease in prices also. But like I said, current focus is maintain the growth and more importantly in this time we believe maintaining the market share and trying to increase it is a prudent strategy from long term sustainable growth and margins will definitely follow.<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Got that. Lastly Rahul, anything on the top line guidance? Are you maintaining the similar guidance of 20% growth for the next 12 years on the top line at a<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Consolidated level with the Planned capacity expansion and the current demand trends. We expect revenue to grow by 17 to 20% in FY27 is the same guidance that we had in the previous call.<\/p>\n<p><strong>Sneha Talreja<\/strong><\/p>\n<p>Thanks. Thanks a lot team and all the best.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Thank you.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Mohsam Shah with Wealth Guardian. Please go ahead.<\/p>\n<p><strong>Mohsam Shah<\/strong><\/p>\n<p>Hello. Congratulations on a good set of numbers and thank you for the opportunity. My question is related to capex but you just estimated around 2:52,75 crawls. Can you just help? For what product category we are planning a capex and their timelines and when it will be operational.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So this is, this CapEx is generally going towards increasing our capacities for one molding and a lot of other writing instruments, products that we planned. Plus a large part of it will also go towards the construction of facilities for a lot of land that we acquired in, in the current financial year. But a lot of like, you know, our molding capacities are interchangeable so. Exactly. Giving the name of the products would be a little difficult. We lined up significant capex also for wooden pencils, a segment where we&#8217;ve not done capex in a very long time now.<\/p>\n<p>So in this year as well as next year we&#8217;ll do some capex there also. So it&#8217;s going to be across host of products.<\/p>\n<p><strong>Mohsam Shah<\/strong><\/p>\n<p>Okay. And this the current ongoing capex that will be commercializing from quarter to onwards. That was particularly for writing instruments, right?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Yes, it was for writing instruments but it&#8217;s a large facility and we had that time thought of developing a part of it. Now we are, you know, as this capacity comes into commercial production we&#8217;ll start the development for other parts of it also.<\/p>\n<p><strong>Mohsam Shah<\/strong><\/p>\n<p>Okay. And do you want to comment on any particular timeline or something?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So this is like going to be an ongoing project. You know, we believe that it will take another three odd years for the company to complete the construction potential at the 40 acre plant. And based on the current demand trends, what we believe the company can achieve, we think that every year we&#8217;ll end up doing a similar level of capex for the next few years to you know, completely utilize the 45 acres plus some new land that we purchased around date and close to our current flagship plan. So it&#8217;s going to be an ongoing project.<\/p>\n<p>With next three years the company will be in that high CAPEX cycle and I&#8217;m sure, you know, as things evolve we will start planning our next phase of development also.<\/p>\n<p><strong>Mohsam Shah<\/strong><\/p>\n<p>Okay, okay. And my second question is regarding unique land integrations. So once this, in this, this year was some full year of integration. Right. So what would be the projected margins that you guide for Uniclan post one or two years.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So again like Dom&#8217;s unique line is also product. Yeah. The diapers are also product where the contribution of crude derivatives is very high. So you know in this segment also we&#8217;ll see some softness in the margins in the near term but going forward basis are current operating plan for Uniqland we believe in this segment also from a revenue basis we&#8217;ll be able to maintain a growth of close to 20% and then again start planning for additional capital expenditure to increase the growth further. And in terms of margin from a long term perspective we believe in this segment we&#8217;ll be happy to achieve a 10% sort of an EBITDA and stay at that level maximizing revenue growth.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Oh,<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Jayant paras Ramka with 3P Investment Management. Please go ahead.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Yeah, thank you for taking my question.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Just a couple of questions on CapEx.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>So we&#8217;ve increased our CapEx guidance to about 250 to 275 versus let&#8217;s say previous call of somewhere between 225 to 250. Just to understand is it because of rising cost of materials over there or are we bringing forward some of our capex? That&#8217;s my first question.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Sure. Hi. So it accounts for a little bit of increase in cost also and at the same time also like I said, you know there are some multiple, you know, new land parcels also with the company acquired which is strategically located one near our flagship unit in Umergaon current flagship in Umergaon and also in our flagship unit in Jammu. You know, so we have a large plant in Jammu. Next to that plant we were able to find a large parcel which we&#8217;ve acquired. So we&#8217;ll be doing certain capacity enhancements there as well as in addition to the development that is happening at the 45 acre plant we are, you know, we&#8217;ve acquired certain land parcels close to our existing plants which were available strategically so we&#8217;ll simultaneously develop them also.<\/p>\n<p>So because of that we&#8217;ve increased our, you know, capital outflow for the projected capital outflow for the coming financial year and there is, you know, some amount of increase in prices also. So it accounts for both of them.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Sure. Thank you. And the second question is from the PENS business. I believe most of your, most of your RM pressure on the PENS business is due to the rise in polymer prices. So from a, from a strategic point of view are we also now focusing on increasing mix to the 10 rupee price point versus let&#8217;s say earlier are I believe our majority of our sales was happening in the five to be price point. Are we trying to also shift the mix to the 10 rupee price point? Thanks.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So Jay, historically you know, you&#8217;ve always seen norms across all our products. SKU and margin profiles always been similar. So irrespective I was selling a 5 rupee pen or a 5 rupee pencil, Visa Visa 10 rupee pen or a 10 rupee pencil, the margins were pretty much similar. The EBITDA margins around that, you know, 79% sort of a level. So really doesn&#8217;t make a lot of difference at what price point we are selling the product. But we believe there is enough scope still. You know this is like a temporary cycle.<\/p>\n<p>We don&#8217;t see these prices to be at the elevated levels, this elevated levels for a very long time. There would be some amount of correction that would happen plus the calibrated increases that we&#8217;ve done in selling prices that we&#8217;ll come back to our original levels of EBITDA margin. It will take some time but we&#8217;ll come back to that levels. And like I said, what we did in the past also, you know, when we launched our PI rupee pens, you know, after that we started packing them in packs of five and that packet of five was priced at let&#8217;s say 30 rupees.<\/p>\n<p>So as such the price per pen was 6 rupees. But in the market it operated as if you were selling a five rupee product. You know, that&#8217;s how our selling price was, that&#8217;s how the channel margins and schemes and discounts were given. So now it becomes a little easier to go back to the six rupee price point because consumers are always aware this is a six rupee product.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Sure. Thank<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>You. Thank you sir and<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>All the best. The next question comes from the line of Kunal Vora with BNP Paribas. Please go ahead.<\/p>\n<p><strong>Kunal Voda<\/strong><\/p>\n<p>Yeah, thanks for the opportunity. First question, what is the extent of Chinese imports in stationary industry and how does the 20% depreciation of rupee against RMB impact the competition in various areas in which you face Chinese competition? Is there a market share gain opportunity? And on the similar lines, does this also have some impact on your capex as you are looking to import machinery for your new factories? That&#8217;s the first one.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So yes, there is some amount of imports, you know, that come from China, Vietnam, a few other countries, also in India. To what extent, what percentage? That&#8217;s a little difficult. You know, to judge, I honestly don&#8217;t have an answer in terms of a percentage. But there are a decent amount of imports that happen. The current currency fluctuation, you know, probably has made imports slightly expensive. This gives a good opportunity for a branded company like Dorms to, you know, with their, you know, aggressive pricing decision, you can probably reduce or discourage such imports which can eventually result in market share gains.<\/p>\n<p>So we are, you know, in a way that should benefit the company with respect to, you know, in terms of imports becoming expensive for us, both on the raw raw material as well on capital goods, we have a natural hedge. There is exports also that the company does. Most of our imports are in US dollars, so are our exports. So in a way they should partially offset each other.<\/p>\n<p><strong>Kunal Voda<\/strong><\/p>\n<p>Understood, that&#8217;s clear. Second one is would you expect a stronger second half of FY27 considering that by that time the full benefit of pricing will be there. You&#8217;ll have higher capacities which you are adding and potentially you&#8217;ll also have some moderation in commodity cost while in the first half you are taking the hit in terms of margins because the commodity costs have increased and you&#8217;ve not taken the full pricing. And again, like on similar lines, would, would you look to bridge the gap?<\/p>\n<p>Currently you mentioned about 5% price hike against 15% cost inflation. Would you look to bridge that if the commodity cost remains high?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Yeah. So basically, you know, times are still uncertain. I don&#8217;t know when this is going to end. When it started, Everybody was talking 15 days. It&#8217;s been more than 45 days. Still there is no uncertainty. You know, the near term environment continues to be very fluid. And given that significant portion of our input basket is directly linked to crudes and the volatility that we are seeing, you know, there would be some impact which will gradually be passed to our consumers, you know, through calibrated balance and gradual increase.<\/p>\n<p>But when that happens, little difficult to say. And in how much time will it get covered? It&#8217;s a little difficult to project at this point of time.<\/p>\n<p><strong>Kunal Voda<\/strong><\/p>\n<p>But in second half you will have a much larger capacity, like larger capacity and like say your factory will start.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So<\/p>\n<p><strong>Kunal Voda<\/strong><\/p>\n<p>Would you expect. Yeah.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So capacity will come, new capacities will come. And like I said, that will be a very good moment for the company to again focus on gaining more market share. You know, historically also we&#8217;ve seen that when there have been uncertain times, you know, it has more impacted the unorganized players and importers rather than branded large companies. So this gives time for market share gains. So we would like to focus More on, you know, this opportunity to gain market share which will eventually help us in long term growth in our revenues and margins as well.<\/p>\n<p>So historically also you know, after Covid, if you see the company&#8217;s margin profile pre Covid and post Covid you will see that there has been certain change similarly pre Ukraine, post Ukraine. So these times if you follow a balanced approach, which is something more long term with a long term strategy, I think it, you know, it will greatly benefit the company.<\/p>\n<p><strong>Kunal Voda<\/strong><\/p>\n<p>Understood, that&#8217;s clear. And just one last question if I can. One is on Uni Clan, like what&#8217;s the numbers which you&#8217;ve done for FY26 full year revenue and margin and what&#8217;s the outlook for FY27?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So FY26, you know on a full year basis we&#8217;ve done revenue of around 253 crore rupees. At Uniclen this represents, you know, for Uniqland this represents close to a 23% growth over their base year revenue. In terms of margins, the margins have been around 8.6%. You We&#8217;ve been talking about Uniclen since the time we acquired this company and like we said that our idea when we acquired this company was a 4,5% EBITDA margin and was to gradually increase it to 10%. We&#8217;ve reached about 8.6% and we believe with the new, with the increasing revenues and certain new product SKUs that we&#8217;ll be launching at Uniqlean very soon, improvement in the product that we&#8217;ve been doing with this, we&#8217;ll be able to maintain a 20% sort of a growth rate at Uniqlen also.<\/p>\n<p>And eventually this margin on a long term basis will stabilize around 10% which has been our target.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Nikhil Sudhir Kumar with Lister Ventures. Please go ahead.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Hi, thank you for the opportunity. So my question is mainly regarding the capacity expansion that is right now happening. I&#8217;m sorry to interrupt you<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Or not quite clear. Could you please use your phone on the handset mode in case if you are using it, you know, in a hands free mode.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Am I audible now?<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Yes, please go.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Yeah, so with respect to the capacity expansion, so I just want to know what is the capacity, what is the capacity expansion percentage that is are we adding another 50 percentage or like 100 percentage capacity expansion to the existing facilities or is it like SKU wise? So just want to know an idea on that. And my second question is regarding the distribution channel growth plan. So what is the company looking at for the current financial year.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Honestly, you know, you know, we never looked at capacity from a perspective at the product level because we would want to be agile towards the requirements of the market, not commit anything in terms of special specific product. But yes, I can give you a certain flavor where you know, the capacity is dedicated for certain products like for pencils, you know, for the wooden pencils. The capacity right now is around 5.8 million pieces which eventually, once the new plant is entirely ready, reach to about 8 million.<\/p>\n<p>Other than that, there are a lot of molding capacity that we are adding. And molding is in a way interchangeable which can be used for, you know, host of products like pens, highlighters, markers, sketch pens, sharpeners, scales, etc. So depending on the market requirement, we would want to be flexible. How do we add those which product we add capacities. But having said that, today our operations are spread across close to 2 million square feet of built up area. And what we are constructing in 45 acres, eventually once all the phases of construction are over, would be again close to 2 million.<\/p>\n<p>So in a way it would be doubling our, you know, reach in terms of manufacturing infrastructure in the next few years. To answer your second question with respect to the distribution network. So you know, you could historically, if you would have seen doms has never been in terms of, you know, specifically targeting a number to grow in terms of its distribution reach. We&#8217;ve always been focused on maximizing the throughput where we believe that, you know, with when we get into a relationship or a partnership with a particular retail store, it is more important to ensure that we have maximum shelf space in their store till their demand is not fulfilled.<\/p>\n<p>We would really not want to go in an adjacent store and try to keep two people waiting for products. So from that perspective, we are actually not from a number perspective, but this entire universe of stationery outlet is close to about 300 to 350,000 stores in India. Out of this, we believe the directly serviceable stores are around 225,000 stores. Beyond these numbers, they are either located in remote geographies or, you know, it really doesn&#8217;t make economical sense to cater them on an individual basis.<\/p>\n<p>And these stores are very well catered to the wholesale segment, which is a good segment for dogs also. So our universe to Target would be about direct Target, direct reach, about 225,000 stationary stores. And by that time I think our distribution through Uniqland in the general merchant outlet would have also reached a substantial point which is basically into Kirana stores. And that&#8217;s when we will also start cross selling a lot of stationary products in that distribution network also. So you know, both ways we believe there is still significant headroom to grow a network both in the stationary store segment as well as in the general merchant outlet segment.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Priyank Chadha with Vallam Capital. Please go ahead<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Rahul. By just clarification you give a guidance of 17 18%. It doesn&#8217;t include the plant new plant that will get operationalized from. From H2, right?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>No, no. So this is a hypny. This is an annual guidance of close to 17 to 20% which includes the you know, new capacities coming in from H1 for the new plant it will be a gradual end of H1 from the new plant it will be a gradual ramp up in capacities that will come in the 45 acres. So that has been considered while guiding for around 17 to 20% growth for FY27.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>And just reconciling the capex numbers it&#8217;s 450 crore or higher for the phase one of this plant.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>No, no, no. So we&#8217;ve done a capex of close to 292 crores in this financial year FY. And for FY27 the capex plant is around 250 to 275 crores. 250 to 275 crores.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>I&#8217;m asking for the whole of this new expansion. Earlier we had guided for total capex of 450 crores and 2 times asset turnover. Now is that any change in the numbers with respect to. With additional land and anything coming in<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>By this entire project of 45 acres starting from the land that we purchased to full development of the construction and full development of plant and machinery. The total playbacks would be close to 850 to thousand crores. We&#8217;ve done a substantial part of it from the proceeds that we raised from ipo. There&#8217;ll be certain other investment that we&#8217;ll continue to do from our internal account accruals. So eventually the total investment in this plant over the next. You know considering we bought this land in June.<\/p>\n<p>Sorry January 2023 to another three odd years of complete development would be close to 852,000 crores.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>In phase one is what you said was 550 crores, right? 290 plus 250.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>No, no. So we started investing in this plant. 290 is the total capex that we&#8217;ve done at the company level. This includes a lot of capital expenditure that happened in our Current infrastructure, capital expenditure that happened at our subsidy levels and capital expenditure that happened in the 45 acre project plus the new land that we purchased also in both Umargaon and Jammu. So at a company level we did 292 crores. You know, it&#8217;s not that separately this 45 acres is like a separate project. Why we are discussing because it was a part of our IPO document where the object was to raise funds for the development of this land.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Got it. And one last question on exports to Fila which has fairly remained flat over last two, three years while the third party exports have grown this year. How should we look at this element of exports to Fila as well as third party with new capacity coming in over whatever timeline you want to guide?<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So yes, exports to Fila were a little lower than expected in the last year. And you know, the key reason for that was at least the initial period was on account of the higher tariffs that were imposed by the US government. A large portion of intercompany export happens to us. Plus there was some amount of, you know, decline in demand in European countries also and these economies also struggled a bit. So overall the intercompany exports were a little lower. But having said that, you know the outlook with now tariffs being done away with our entity, Fila Group entity in US also recalibrating their pricing structures.<\/p>\n<p>We believe this business to pick momentum again. So these exports would increase also with the new capacity additions that we are lining up. Especially for the wooden pencil segment where a lot of goods are sold to Sila and Sila group of the capacity addition in wooden pencil will also help in the Fila group intercompany exports.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you. The next question comes from the line of Badal Rawat with trust Plutus. Please go ahead. Please go ahead with your question and kindly unmute your line in case if you are on mute.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>Yes, hi. Hello.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Yes, please go ahead.<\/p>\n<p><strong>Unidentified Participant<\/strong><\/p>\n<p>So actually most of my question got answered. So yeah, that was related to capacity utilization. So thank you so much.<\/p>\n<p><strong>Jinesh Joshi<\/strong><\/p>\n<p>Thank you.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>The next question comes from the line of aradna Jain with 361 capital. Please go ahead.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Hi, thank you for the opportunity. Again, just a couple of questions. One, the capex that we plan to do of around 500 plus odd crores for the next two years, would we continue with the stance that all of that will be funded through internal accruals or we plan to take some debt for it? Because we see that this year we already reduced our debt quite a bit compared to last year. So how would the Capex be funded going ahead.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So it would, you know, depend upon one the utilization of funds that we generate as free cash flows for the company. You know, if there are free cash flows available, we definitely want to utilize them for capital expenditure rather than distributing it as higher than stated policy of 10% of standalone profits to be distributed as dividend. So first that and there&#8217;s a lot of headway available to take a little bit of additional debt if required. So it will be a prudent decision making depending upon, you know, the capital allocation and how the company sees the use of funds.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Okay, because the question, the reason I was asking is because this year we were not able to generate any free cash flow. So because of<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>The CapEx. Because of the CapEx, you know, we did a little higher than expected CapEx. If you, you know when we started the year we were looking at around a figure of 225 to 250 which eventually got increased over 290 plus crores. And there were certain good assets in terms of land parcels which were available in absolute vicinity of the company&#8217;s operations which we believed were strategically made sense to acquire them. So that&#8217;s why this was a little higher.<\/p>\n<p><strong>Aradna Jain<\/strong><\/p>\n<p>Understood. So second on Sceeto and 7 SGA, if you could throw some light as to how has the performance been of SIBO specifically this quarter because of the back to school season. And second, where are you progressing on the 7sqa JV and how the performance be.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>So Skido&#8217;s revenue for the quarter was about 4 and a half crores as compared to 2.8 crores in the same period previous year which is a 60 plus percent year on year growth. This growth was primarily on account of the successful launch of backpacks that we did in Skido last year for the dom&#8217;s branded products. And as we go ahead, we are now, you know that seven team and SCIDO team have started discussing multiple projects together at the same time. We plan to do some amount of additional capital expenditure at SCIDO in terms of terms of buying new land and constructing new factory premises to increase our production capacities there significantly for a full year sort of a basis.<\/p>\n<p>If you look the revenues increased from 9 crores to 14 crores. But we are, you know, still learning this business. The management of Skido has exceptional talent in terms of product design and product engineering using the dom&#8217;s brand, the dom&#8217;s design philosophy and the distribution reach. We believe this business will grow significantly in the coming few years and benefit from the association with seven spa. Also in terms of our jv, you know, formation with seven spa. We are in the process of formation of the joint venture again entity and this should be completed before the end of June 2026.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you ladies and gentlemen. That was the last question for today. I would now like to hand the conference over to the management for the closing remarks.<\/p>\n<p><strong>Rahul Shah<\/strong><\/p>\n<p>Thank you. Thank you once again for joining us. We appreciate your continued support and confidence in our journey. Should you have any further questions, please reach out to our investor relations team. Thank you once again and have a great day ahead.<\/p>\n<p><strong>Operator<\/strong><\/p>\n<p>Thank you, sir. Ladies and gentlemen, on behalf of ICICI securities, that concludes this conference call. Thank you for joining us. And you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Doms Industries Ltd (NSE: DOMS) Q4 2026 Earnings Call dated May. 19, 2026 Corporate Participants: Rahul Shah \u2014 Chief Financial Officer Analysts: Aniruddha Joshi \u2014 Analyst Aradna Jain \u2014 Analyst Percy \u2014 Analyst Jinesh Joshi [&hellip;]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":172298,"url":"https:\/\/alphastreet.com\/india\/doms-industries-q2-fy26-earnings-results\/","url_meta":{"origin":183485,"position":0},"title":"Doms Industries\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 11, 2025","format":false,"excerpt":"Doms Industries Limited, established in 2006, is a leading stationery and art products company engaged in designing, developing, manufacturing, and marketing a wide range of products under the flagship DOMS brand. Financial Highlights: Revenues rose 24.02% year-on-year to \u20b9568 crore from \u20b9458 crore. Total expenses increased 25.51% to \u20b9492 crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/DO.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171219,"url":"https:\/\/alphastreet.com\/india\/doms-industries-q1-fy26-earnings-results\/","url_meta":{"origin":183485,"position":1},"title":"Doms Industries Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"September 12, 2025","format":false,"excerpt":"Company Overview: Doms Industries Limited, incorporated in 2006, is a stationery and art product company. It designs, develops, manufactures, and sells a wide range of stationery and art products under its flagship brand, DOMS. Presenting below its Q1 FY26 Earnings Results. Financial Highlights for Q1 FY26: Revenue: \u20b9562 crore, up\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DOMS Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DOM.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":166049,"url":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-q2fy25-42-rise-in-profits\/","url_meta":{"origin":183485,"position":2},"title":"Doms Industries Ltd Q2FY25; 42% rise in Profits","author":"Divyansh_Kasana","date":"December 13, 2024","format":false,"excerpt":"Incorporated in 2006, DOMS Industries Limited is a stationery and art product company primarily engaged in designing, developing, manufacturing, and selling a wide range of these products under the flagship brand, DOMS. Financial Results: Doms Industries Ltd reported Revenues for Q2FY25 of \u20b9458.00 Crores up from \u20b9382.00 Crore year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/12\/PL-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":168990,"url":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-q4fy25-9-rise-in-profits\/","url_meta":{"origin":183485,"position":3},"title":"Doms Industries Ltd Q4FY25; 9% rise in Profits","author":"Divyansh_Kasana","date":"July 2, 2025","format":false,"excerpt":"Incorporated in 2006, DOMS Industries Limited is a stationery and art product company primarily engaged in designing, developing, manufacturing, and selling a wide range of these products under the flagship brand, DOMS. Financial Results: Doms Industries Ltd reported Revenues for Q4FY25 of \u20b9509.00 Crores up from \u20b9404.00 Crore year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/J-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":167540,"url":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-q3fy25-38-rise-in-profits\/","url_meta":{"origin":183485,"position":4},"title":"Doms Industries Ltd Q3FY25; 38% rise in Profits","author":"Divyansh_Kasana","date":"March 24, 2025","format":false,"excerpt":"Incorporated in 2006, DOMS Industries Limited is a stationery and art product company primarily engaged in designing, developing, manufacturing, and selling a wide range of these products under the flagship brand, DOMS. Financial Results: Doms Industries Ltd reported Revenues for Q3FY25 of \u20b9501.00 Crores up from \u20b9372.00 Crore year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-14.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":175429,"url":"https:\/\/alphastreet.com\/india\/doms-industries-ltd-doms-q1-2026-earnings-call-transcript\/","url_meta":{"origin":183485,"position":5},"title":"Doms Industries Ltd (DOMS) Q1 2026 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Doms Industries Ltd (NSE: DOMS) Q1 2026 Earnings Call dated Aug. 11, 2025 Corporate Participants: Unidentified Speaker Rahul Shah \u2014 Chief Financial Officer Analysts: Unidentified Participant Aniruddha Joshi \u2014 Analyst Sneha Talreja \u2014 Analyst Aradhana Jain \u2014 Analyst Jinesh Joshi \u2014 Analyst Kunal Vora \u2014 Analyst Jaiveer Shekhawat \u2014 Analyst\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=183485"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183485\/revisions"}],"predecessor-version":[{"id":183486,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183485\/revisions\/183486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=183485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=183485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=183485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}