Dynemic Products Ltd, incorporated in 1990, is one of India's leading manufacturers and exporters of food colors, lake colors, blended colors, FD&C colors, and dye intermediates, with applications across various industries. Established in June 1990, the company's products adhere to strict quality standards and have been certified with HACCP, ISO 9001:2000 and HACCP Code 2003 among others. DPL is an ISO 9001, ISO 14001, FSSC 22000 & GMP certified manufacturer and exporter of food colours, offering a complete range of Food Colours, Lake Colours, Blended Colours, FD&C Colours & Dye Intermediates.
The company came out with its Initial Public Offer in January 2006 and their shares were listed on The Bombay Stock Exchange Limited (BSE) in February 2006. It is listed on the BSE with a BSE Code of 532707, NSE with an NSE Symbol of DYNPRO and ISIN of INE256H01015. The company has its registered office located at B-301, Satyamev Complex-1, opposite New Gujarat High Court, Sarkhej-Gandhinagar Highway, Sola, Ahmedabad-380060, Gujarat.
Dynemic Products Limited, together with its subsidiaries, engages in the manufacture and sale of dyes and dye intermediates in India. It offers synthetic food colours that are primarily applied in colouring food, drug, and cosmetic products; lake colours for use in pharmaceuticals, cosmetic and personal care products, spice compounds, bakery and dairy products, and snack food applications; and blended colours. The company also provides food drug and cosmetic colors; salt free dyes for the inkjet industry; and dyes intermediates, such as pyarazolone based dyes intermediates for application in reactive, metal complex, acid, ramazol, and direct dyes, as well as in food colors.
The company is a leading manufacturer and exporter of a wide range of food colours, lake colours, blended colours, US-FDA certified FD&C colours, and dye intermediates from India. Their products meet regulatory requirements and certifications such as FSSAI, EU, JECFA, USFDA, Kosher, and Halal, demonstrating their commitment to quality. Additionally, the company is dedicated to improving social, economic, and environmental conditions.
Dynemic Products Ltd is based out of Gujarat with plants in Ankleshwar and Dahej. The company's two manufacturing units got the status of EOU from Kandla Special Economic Zone. In their expansion phase, the production capacity was increased from 1980 MT to 5700 MT, whilst they also purchased 60 shares in Dynamic Overseas India Pvt Ltd which made it a subsidiary.
During the year 2004-05, the company acquired 60% shares of Dynamic Overseas (India) Pvt Ltd and hence Dynamic Overseas (India) Pvt Ltd became the subsidiary of the company. In June 9, 2005, the company incorporated a subsidiary company, namely Dynemic USA Inc, to expand geographical as well as their product coverage and capture the opportunities to develop market of their products in USA.
The company's management includes Varsha Mehta, Rashmi K Otavani, Shankarlal B Mundra, Jagdishbhai S Shah, Dixit B Patel, Rameshbhai B Patel, Bhagwandas K Patel. The Chairperson is Bhagwandas K Patel.
Market Capitalization and Stock Performance
As of May 14, 2025 03:59 PM, the market cap of Dynemic Products Ltd stood at Rs. 341.66 Cr. Another mention states the market cap is ₹442 Cr. The 52-week high of Dynemic Products Ltd share price is Rs. 485.00 while the 52-week low is Rs. 235.00.
Key Financial Metrics (as of May 2025)
- PE Ratio: 23.12 (as of May 14, 2025)
- PB Ratio: 0.63 (as of May 14, 2025)
- Stock P/E: 29.4
- Book Value: ₹180
- ROCE: 10.0%
- ROE: 7.03%
Latest Financial Results
- FY25: Revenue: 368 Cr and Profit: 15.0 Cr
- Q3 FY24-25: Revenue: ₹93.76 Cr and Net Profit: ₹4.39 Cr.
- Net profit jumped 256.91% since the same period last year to ₹4.39 Cr in Q3 FY2024-2025.
- Q2 FY25: Revenues growing 50% YoY and 17% QoQ. EBITDA increased by 58% YoY and 25% QoQ.
- H1 FY25: Sales were higher by 33% compared to H1 FY24. EBITDA margins increased by 240 bps YoY.
In the first half of FY25, Dynemic Products Ltd. has started to show signs of demand recovery. Management commentary has also turned slightly more optimistic in Q2 FY25, highlighting an uptick in demand in both product segments. Balance sheet deleveraging is already playing out, operating cash flow for H1 FY25 was 15 Cr that helped the business reduce debt by 10 Cr. This trend of debt reduction is expected to continue on the back of healthy operating cash flow generation.
- Promoter Holding: 29.4% (low)
- The promoter stake has come down to 29.4%, primarily due to the exit of erstwhile promoter Mr Dashrathbhai Patel, whose family owned approximately 13% stake in 2017 but completely exited their holdings in 2021.
- Market Cap: ₹373 Cr (Dynemic Products Ltd) vs. Median Peer Market Cap: ₹3,634 Crs.
- Peers: Pidilite Industries Ltd, SRF Ltd, Linde India Ltd, Godrej Industries Ltd, Gujarat Fluorochemicals Ltd, Deepak Nitrite Ltd, Himadri Speciality Chemical Ltd.
- Major Competitors: Jocil, Oriental Aromatics, SH Kelkar & Co, Rossari Biotech, Privi Speciality Che, Clean Science, Atul.
- Industry Segment: Specialty Chemicals, focusing on food color manufacturing. Generates maximum revenue from Synthetic food colours.
- Despite being smaller compared to its peers, the company has established a strong presence in the niche food color and dye intermediates market with international operations spanning India and global markets.
