D-Link (India) Limited

Document Dates: May 09, 2026 (Financial Statements) and July 16, 2026 (Annual Report)

Financial Performance Highlights

Consolidated Financials (FY 2025-26):

  • Revenue from Operations: ₹1,565.70 crore (13.1% growth from ₹1,383.86 crore in FY25)
  • Total Income: ₹1,582.34 crore (12.68% growth)
  • Profit Before Tax: ₹140.06 crore
  • Profit After Tax: ₹104.06 crore (vs. ₹104.26 crore previous year)
  • EPS: ₹29.31 per share (face value ₹2)
  • Net Profit Margin: 6.65% (vs 7.53% in FY25)

Standalone Financials (FY 2025-26):

  • Total Income: ₹1,574.32 lakh (12.76% growth)
  • Revenue from Operations: ₹1,559.02 crore
  • Profit Before Tax: ₹138.53 lakh
  • Profit After Tax: ₹102.95 crore
  • EPS: ₹29.00 per share

Dividend Declaration

  • Interim dividend of ₹6 per share paid on November 5, 2025 (Record Date: November 14, 2025)
  • Recommended final dividend of ₹20 per share plus special dividend of ₹7.50 per share (aggregating ₹27.50 per share)
  • Total dividend payout for FY26: ₹976.38 lakh (including interim)
  • Dividend Distribution Policy available on company website

Subsidiary Performance (TeamF1 Networks)

  • 99.99% owned by D-Link India
  • Revenue from Operations: ₹668.50 lakh (vs. ₹669.80 lakh previous year)
  • Total Revenue: ₹802.35 lakh
  • Profit Before Tax: ₹153.02 lakh
  • Profit After Tax: ₹110.84 lakh
  • EPS: ₹1,055.62
  • Goodwill from acquisition: ₹1,534.96 lakhs (unchanged)

Operational Highlights

Business Segments:

  • Consumer Networking: Wi-Fi routers/mesh systems, unmanaged switches, security components, ADDON series
  • Enterprise Solutions: Switching, wireless, network management, structured cabling, network enclosures
  • Sales of networking products: ₹1,558.41 crore (93.4% of total revenue)
  • Sales of network security software services: ₹7.29 crore
  • Strong distribution network: 3 national distributors, 100+ business distributors, 15,000+ resellers/retailers

Make in India Initiative:

  • Two-thirds of products sourced locally through 30+ manufacturing partnerships
  • Regional warehouses in Goa, Bangalore, Mumbai, Delhi (total 1,25,000 sq. ft. capacity)
  • Promoting CNG/electric vehicles in logistics network

ESG Compliance:

  • Integrated ESG principles across value chain
  • Focus on environmental (hardware lifespans, e-waste management), social (ethical labor, digital inclusion), and governance (data privacy, supply chain diligence)

Balance Sheet Position (as of March 31, 2026)

  • Total Equity: ₹498.58 crore
  • Share Capital: ₹7.10 crore (35,504,850 equity shares of ₹2 each)
  • Reserves and Surplus: ₹491.48 crore
  • Property, Plant and Equipment: ₹15.25 crore (net block)
  • Right-of-Use Assets: ₹14.07 crore (net block primarily for leased premises)
  • Current Ratio: 2.56 times
  • Debt-Equity Ratio: 0.03 times

Employee Benefits

Defined Benefit Plans (Gratuity):

  • Present value of obligation: ₹858.33 lakh
  • Fair value of plan assets: ₹612.28 lakh
  • Net liability: ₹246.05 lakh
  • Past service cost due to New Labour Codes: ₹249.73 lakh recognized in FY26

Defined Contribution Plans:

  • Provident Fund contribution: ₹70.84 lakh
  • ESIC contribution: ₹0.56 lakh

Tax Matters

Current Tax:

  • Current tax expense: ₹370.82 lakh
  • Includes short/excess provision adjustments of ₹14.53 lakh

Deferred Tax:

  • Net deferred tax asset: ₹370.98 lakh
  • Deferred tax assets: ₹512.89 lakh
  • Deferred tax liabilities: ₹141.91 lakh

Tax Contingencies:

  • Income tax demand of ₹74.27 lakh for AY 2020-21 under appeal
  • Rectification order received for partial resolution of discrepancies

Contingent Liabilities

Customs Duty Disputes:

1. Directorate of Revenue Intelligence (DRI) matter: Original SCN for ₹550.54 lakh for FY2016-2020, adjudication order confirmed ₹22.61 lakh (4.1% of demand), appeal filed with CESTAT Mumbai

2. DRI classification dispute (patch panels): ₹94.03 lakh demand excluding interest and penalty, adjudication order set aside demand but customs department appealed to CESTAT

3. Customs duty demand on royalty payments: ₹61.15 lakh demand including duties, fines, and penalties, voluntary ad-hoc payments of ₹10.00 lakh made during investigation, appeal filed with CESTAT Mumbai

Total Contingent Exposure:

  • Approximately ₹66.77 crore in customs duty disputes under litigation
  • Income tax demand of ₹8.97 lakh under appeal
  • Management believes adequate provisions made and strong case for defense
  • No provisions made as outflow not considered probable

Related Party Transactions

Significant Transactions:

  • Royalty payments to D-Link Corporation: ₹208.15 lakh
  • Purchases from related parties: ₹21.67 lakh
  • Sales to related parties: ₹24.63 lakh
  • Dividend paid to holding company: ₹380.41 lakh

Key Management Personnel Remuneration:

  • Tushar Sighat (MD & CEO): ₹457.28 lakh
  • Other directors and KMP: Details provided in notes

Board and Governance Updates

Director Changes:

  • Appointed on April 22, 2025: Mr. Chin Ho Kuo (Non-Executive) and Mr. Yen Wen Chen (Independent)
  • Resigned: Mr. Mukesh Lulla (November 5, 2025) and Ms. Ching Chun Yang (February 5, 2026)
  • Mr. Chia Jui Chang retires by rotation at upcoming AGM
  • Re-appointment of Mr. Tushar Sighat as MD & CEO for 3 years from November 2, 2026

Key Managerial Personnel:

  • Mr. Tushar Sighat (Managing Director & CEO)
  • Mr. Vinay Joshi (Chief Financial Officer)
  • Mr. Shrinivas Adikesar (Company Secretary & Compliance Officer)

Committee Composition:

  • Audit Committee: Mr. Mangesh Kinare (Chairman), Mr. Amit Pandit, Ms. Madhu Gadodia, Mr. Hung-Yi Kao, Mr. Yen Wen Chen
  • Five Board meetings held during the year

Corporate Social Responsibility

  • CSR Obligation: ₹248.73 lakh (2% of average net profit)
  • Actual Spending: ₹249.11 lakh on various projects
  • Focus areas: Education, healthcare, women empowerment, community welfare
  • Key beneficiaries: Tata Memorial Centre, Vishwadarshana Education Society, Indian Red Cross Society, Aspire for Her Foundation

Service Infrastructure

  • D-Link Technical Support Centre with Level 1-3 support
  • 10 Service Centers and 23 Service Partners nationwide
  • Digital support channels: WhatsApp chatbot, phone helplines, email/live chat with CRM integration

Key Financial Ratios

  • Current Ratio: 2.50-2.56 times
  • Return on Equity: 21.21-21.94%
  • Inventory Turnover: 14.68 times
  • Debtors Turnover: 3.87-3.88 times
  • Operational Profit Margin: 7.98%
  • Net Profit Margin: 6.60-6.65%

AGM Details

  • Date: August 10, 2026
  • Time: 11:00 AM IST
  • Venue: Kesarval The Fern Goa, Verna, Salcette, Goa 403722
  • Book Closure: July 11-17, 2026
  • Record Date: July 10, 2026
  • E-voting period: August 7-9, 2026
  • Business: Adoption of financial statements, dividend declaration, director appointments

Regulatory Compliances

  • All related party transactions at arm's length and approved by Audit Committee
  • No material orders from regulators/courts affecting going concern status
  • Vigil Mechanism/Whistle Blower Policy implemented with no complaints during year
  • POSH Act compliance with no complaints received
  • No transactions with struck-off companies
  • No crypto currency or virtual currency investments
  • Unpaid dividend accounts: ₹39.78 lakh

Foreign Exchange Transactions

  • Foreign Exchange Earnings: ₹268.53 lakh
  • Foreign Exchange Outgo: ₹4,036.15 lakh (including imports, royalty, dividend payments)
  • Hedging policy in place for currency risk management

Forward Looking Statements

Company disclaimer included regarding forward-looking statements subject to risks, uncertainties, and inaccurate assumptions. Actual results may differ materially from anticipated results.