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D-Link (India) Limited (DLINKINDIA)

₹420.25 +0.02% last close, 16 Oct

📊 NSE: DLINKINDIA 🏢 Computers Hardware & Equipments 📢 Latest filing: 13 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 31 Oct 2026 (board meeting)

D-Link (India) Limited's board meets on 31 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, D-Link (India)'s revenue was ₹457 Cr (+30.6% year on year, +2.9% on the previous quarter), and net profit ₹28.0 Cr (+16.7% year on year); the operating margin was 7.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹457	+30.6%	+2.9%
Operating profit	₹35.0	+20.7%	+0.0%
Net profit	₹28.0	+16.7%	+0.0%
EPS (₹)	7.78	+13.2%	+0.0%
Operating margin	7.7%	—	—

Full quarterly financials → Results calendar →

DLINKINDIA delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 57.53% of the DLINKINDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.4%. That is close to its usual level.

57.53%Delivery, 16 Oct

53.4%Own 20-session average

1.0×Volume vs its average

₹420.25NSE close · +0.02%

Delivery in the last 5 sessions: 56.3% · 48.9% · 28.0% · 54.9% · 57.5%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

D-Link India Issues Postal Ballot Notice for Appointment of Independent Director

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 13 Oct 2026, 03:19 PM

D-Link (India) Limited has issued a Postal Ballot Notice seeking shareholder approval via special resolution to appoint Ms. Vaishali Prasad Koparkar as an Independent Director for a 5-year term ending August 25, 2031. Remote e-voting commences on October 15, 2026, and concludes on November 13, 2026, with the cut-off date fixed at October 9, 2026. The results of the voting will be announced on or before November 15, 2026. This is a standard corporate governance procedure to regularize an additional director appointment.

Proposed appointment of Ms. Vaishali Prasad Koparkar as Independent Director for a 5-year tenure up to August 25, 2031
Remote e-voting window runs from October 15, 2026, to November 13, 2026
Eligibility cut-off date established as October 9, 2026
Declaration of Postal Ballot results scheduled on or before November 15, 2026

💡 Eligible shareholders may review the voting instructions provided via KFin Technologies before November 13, 2026; track the announcement of voting results by November 15, 2026.

DLINKINDIA Closes Trading Window from October 01, 2026 for Q2/H1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Sep 2026, 10:35 AM

D-Link (India) Limited has informed the exchanges that its trading window will remain closed starting October 01, 2026. This closure is pursuant to SEBI (Prohibition of Insider Trading) Regulations for the quarter and half-year ending September 30, 2026. The window will re-open 48 hours after the declaration of financial results. The specific date for the board meeting to approve the results will be announced separately.

Trading window closure effective date: October 01, 2026
Financial period under consideration: Quarter and half year ending September 30, 2026
Trading window re-opening: 48 hours after financial results declaration
Board meeting date to approve results: To be communicated in due course

💡 Track the upcoming board meeting date intimation and subsequent Q2/H1 FY27 financial performance.

D-Link India Independent Director Madhu Vishal Gadodia Completes 5-Year Second Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 Aug 2026, 02:37 PM

D-Link (India) Limited has announced that Ms. Madhu Vishal Gadodia has ceased to be an Independent Director of the company effective August 26, 2026. This cessation is due to the completion of her second five-year tenure as an Independent Director under Companies Act guidelines. This is a statutory, routine governance event with no disruption to day-to-day business operations.

Ms. Madhu Vishal Gadodia completed her second term of 5 years on August 26, 2026
Cessation took effect upon the close of business on August 26, 2026
Formal intimation filed with stock exchanges on August 27, 2026 pursuant to SEBI Regulation 30

💡 Track subsequent board reconstitution announcements to see if a new independent director is inducted to maintain statutory board independence.

Independent Director Madhu Vishal Gadodia Completes 5-Year Second Term at D-Link (India)

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 27 Aug 2026, 02:20 PM

D-Link (India) Limited has announced that Independent Director Ms. Madhu Vishal Gadodia ceased to be a Director on August 26, 2026. The cessation is due to the completion of her second consecutive five-year term as per regulatory guidelines. This is a routine board tenure transition with no material impact on the company's ongoing business operations.

Independent Director Ms. Madhu Vishal Gadodia ceased to be Director on August 26, 2026.
Cessation follows the completion of her second 5-year term.
Filing submitted under Regulation 30 of SEBI Listing Regulations on August 27, 2026.

💡 Track upcoming board appointments to monitor compliance with independent director composition requirements. No immediate investment action required.

D-Link Appoints Vaishali Koparkar as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 05:57 PM

D-Link (India) Limited has appointed Ms. Vaishali Prasad Koparkar as an Independent Director for a 5-year term effective August 26, 2026, subject to shareholder approval via postal ballot. Ms. Koparkar brings over 36 years of finance, taxation, and strategy experience, having held senior roles across Larsen & Toubro Group. Her appointment follows the expiry of Ms. Madhu Gadodia's term on August 26, 2026, leading to a reconstitution of the Audit, NRC, Stakeholders Relationship, and CSR committees.

Appointment of Ms. Vaishali Prasad Koparkar for a 5-year consecutive term starting August 26, 2026
Candidate brings over 36 years of experience across Larsen & Toubro Ltd and Indian Oil Corporation Ltd
Term of existing Independent Director Ms. Madhu Gadodia expires on August 26, 2026
Reconstitution approved across 4 Board committees including Audit and NRC

💡 Track the upcoming postal ballot notice and shareholder voting results for formal confirmation of the appointment.

D-Link India Appoints Vaishali Koparkar as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 05:54 PM

D-Link (India) Limited has announced the appointment of Ms. Vaishali Prasad Koparkar as an Independent Director for a 5-year term effective August 26, 2026, subject to shareholder approval via postal ballot. Ms. Koparkar brings over 36 years of finance, taxation, and strategy experience, primarily from Larsen & Toubro Ltd. Concurrently, the company reconstituted its board committees as existing Independent Director Ms. Madhu Gadodia's term expires on August 26, 2026.

Appointment of Ms. Vaishali Prasad Koparkar as Independent Director for a 5-year term starting August 26, 2026
Appointee brings over 36 years of corporate finance, internal controls, and strategy experience from L&T Ltd
Approval to be sought from shareholders via postal ballot process
Reconstitution of Audit, NRC, SRC, and CSR committees following the transition and expiry of Ms. Madhu Gadodia's term on August 26, 2026

💡 Track shareholder voting results on the postal ballot for the appointment. No immediate financial impact.

Rs 27.50 Dividend Approved; Tushar Sighat Re-appointed as MD & CEO at D-Link India AGM

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 11 Aug 2026, 05:33 PM

D-Link (India) shareholders approved all resolutions at the 18th AGM held on August 10, 2026. A significant dividend of Rs 27.50 per share was declared, representing a high payout ratio of approximately 94% of FY26 PAT and a yield of ~6.4% at current prices. Key leadership continuity was secured with the re-appointment of Mr. Tushar Sighat as Managing Director & CEO. The voting results showed overwhelming support, with over 99.8% of votes in favor for all major resolutions.

Approved a dividend of Rs 27.50 per equity share for the financial year ended March 31, 2026
Total dividend payout estimated at Rs 97.64 Cr, which is ~93.8% of the TTM PAT of Rs 104 Cr
Re-appointed Mr. Tushar Sighat as Managing Director & CEO with 99.89% of votes in favor
Total of 2,07,22,636 votes were polled, representing 58.37% of the total 3,55,04,850 outstanding shares
Re-appointed Mr. Chia-Jui Chang as a Director with 99.88% shareholder approval

💡 Investors should note the high dividend yield (~6.4%) and monitor the company's ability to maintain such payouts while pursuing its strategy to shift from retail to higher-margin enterprise networking segments.

₹27.50 Total Dividend and CEO Re-appointment Approved at D-Link India AGM

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 10 Aug 2026, 12:40 PM

D-Link (India) Limited held its 18th Annual General Meeting on August 10, 2026, where shareholders voted on a total dividend of ₹27.50 per share (₹20 ordinary and ₹7.50 special). This payout totals approximately ₹97.64 crore, representing a significant ~94% of the FY26 PAT of ₹104.07 crore. The meeting also confirmed the re-appointment of Mr. Tushar Sighat as Managing Director & CEO, ensuring leadership continuity. The FY26 audited financial statements were adopted with no adverse remarks from statutory or secretarial auditors.

Approved a total dividend of ₹27.50 per equity share (₹20 ordinary + ₹7.50 special) for FY26
Total dividend payout of ~₹97.64 crore against FY26 PAT of ₹104.07 crore (~94% payout ratio)
Re-appointment of Mr. Tushar Sighat as Managing Director & CEO via special resolution
FY26 revenue confirmed at ₹1,565.83 crore with an operating profit margin of 8.4%
Auditors reported zero qualifications or adverse remarks for the financial year ended March 31, 2026

💡 Investors should monitor the formal voting results and scrutinizer's report expected within 48 hours, and track the dividend payment timeline.

Q1 Revenue up 30.5% YoY to ₹456.96 Cr; Net Profit rises 13.2% to ₹27.61 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 01 Aug 2026, 02:00 PM

D-Link India reported a strong 30.5% YoY revenue growth in Q1 FY27, reaching ₹456.96 Cr, compared to ₹350.16 Cr in the same period last year. Net profit grew 13.2% YoY to ₹27.61 Cr, although it remained flat on a sequential (QoQ) basis. The company is currently contesting a ₹6.11 Cr customs demand related to royalty payments, having already deposited ₹1 Cr under protest. Operating performance remains stable with an EPS of ₹7.78 for the quarter.

Revenue from operations increased 30.5% YoY to ₹456.96 Cr from ₹350.16 Cr.
Net profit for the quarter stood at ₹27.61 Cr, a 13.2% increase over Q1 FY26.
Earnings Per Share (EPS) improved to ₹7.78 from ₹6.87 in the year-ago period.
Total expenses rose significantly to ₹424.52 Cr, driven by ₹402.02 Cr in stock-in-trade purchases.
Contesting a customs demand of ₹6.11 Cr regarding royalty payments to the parent company.

💡 Monitor the progress of the CESTAT appeal regarding the ₹6.11 Cr customs demand and observe if the strong top-line growth can be sustained alongside margin expansion in the enterprise segment.

D-Link (India) to Hold 18th AGM on August 10, 2026; Annual Report FY26 Released

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Jul 2026, 12:21 PM

D-Link (India) Limited has scheduled its 18th Annual General Meeting (AGM) for August 10, 2026, in Goa. The company has dispatched physical letters to shareholders without registered email addresses, providing them with QR codes and web links to access the FY 2025-26 Annual Report. This is a standard regulatory procedure following the end of the financial year. Investors can now access the full financial disclosures and management commentary for the recently concluded fiscal year.

18th Annual General Meeting scheduled for August 10, 2026, at 11:00 A.M. IST
Annual Report for the Financial Year 2025-26 made available via digital links and QR codes
Notice for the AGM was originally dated May 9, 2026
Company maintains a strong financial position with TTM revenue of ₹1,566 Cr and a low Debt/Equity of 0.03

💡 Investors should download and review the FY 2025-26 Annual Report to understand management's execution strategy regarding the shift from retail to high-margin enterprise networking products.

₹27.50 Total Dividend Proposed; AGM Scheduled for August 10, 2026

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 16 Jul 2026, 05:23 PM

D-Link (India) Limited has issued a notice for its 18th AGM on August 10, 2026, with a primary focus on a substantial dividend payout. The board has recommended a total dividend of ₹27.50 per share, comprising a ₹20.00 ordinary dividend and a ₹7.50 special dividend. This payout is significant given the TTM EPS of ₹29.32, representing a payout ratio of approximately 94%. Additionally, the company is seeking shareholder approval to re-appoint Mr. Tushar Sighat as MD & CEO for a three-year term starting November 2026.

Proposed total dividend of ₹27.50 per share (₹20.00 ordinary + ₹7.50 special) for FY26.
Record date for dividend eligibility fixed as July 10, 2026.
Re-appointment of Mr. Tushar Sighat as MD & CEO for a 3-year term from Nov 2, 2026, to Nov 1, 2029.
Dividend to be distributed across 3,55,04,850 equity shares of ₹2 each.
Book closure period for the AGM set from July 11, 2026, to July 17, 2026.

💡 Investors should note the record date of July 10, 2026, for dividend eligibility and monitor the AGM voting results regarding leadership continuity and executive remuneration.

D-Link (India) Submits Quarterly Compliance Certificate under SEBI Reg 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 11:13 AM

D-Link (India) Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by KFIN Technologies Limited (the Registrar and Share Transfer Agent), confirms that securities dematerialized or rematerialized during the quarter have been reported to the stock exchanges. This is a standard procedural filing required for all listed companies to ensure the integrity of shareholding records. No financial or operational updates were disclosed in this filing.

Compliance certificate issued for the quarter ended June 30, 2026
Certificate provided by Registrar and Share Transfer Agent, KFIN Technologies Limited
Confirms reporting of dematerialized/rematerialized securities to BSE and NSE
Filing dated July 06, 2026, following the certificate date of July 04, 2026

💡 This is a routine administrative filing with no impact on business fundamentals. Investors should look forward to the upcoming quarterly earnings release for operational performance updates.

D-Link India Trading Window to Close from July 1, 2026 for Q1 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Jun 2026, 11:57 AM

D-Link (India) Limited has announced the closure of its trading window for all designated persons starting July 01, 2026. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the review of financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are publicly disclosed. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.

Trading window closure effective from July 01, 2026
Closure pertains to the financial results for the quarter ending June 30, 2026
Window will reopen 48 hours after the declaration of financial results
Restriction applies to all Designated Persons and their immediate relatives

💡 No action is required as this is a routine compliance filing. Investors should monitor for the upcoming board meeting date to assess the company's Q1 performance.

D-Link India FY26 Revenue Up 13%, Announces Total Dividend of ₹27.50 Per Share

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 May 2026, 04:26 PM

D-Link (India) Limited reported a 13.2% growth in annual revenue to ₹1,559 crore for FY26, although net profit remained flat at ₹102.9 crore. The Board has recommended a significant total dividend of ₹27.50 per share, which includes a ₹20 final dividend and a ₹7.50 special dividend. While top-line growth is healthy, the company faced margin pressure as profit before tax grew only marginally to ₹138.5 crore. Additionally, the company is strengthening its board with the proposed appointment of Ms. Della Chang as an Independent Director.

Annual revenue from operations grew 13.2% YoY to ₹1,55,901.66 Lakhs from ₹1,37,716.42 Lakhs.
Recommended a total dividend of ₹27.50 per share (₹20 final + ₹7.50 special) for FY26.
Net profit for the full year remained stable at ₹10,294.98 Lakhs compared to ₹10,305.29 Lakhs in FY25.
Earnings Per Share (EPS) for FY26 stood at ₹29.00, nearly identical to the previous year's ₹29.03.
Record date for dividend entitlement is fixed as July 10, 2026, with the AGM scheduled for August 10, 2026.

💡 Investors should find the high dividend payout attractive, offering a strong yield at current price levels. However, the flat profit growth despite rising revenues suggests a need to monitor operating margins and cost management in the coming fiscal year.

D-Link India FY26 Revenue Up 13.2%; Declares Total Dividend of ₹27.50 Per Share

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 09 May 2026, 04:21 PM

D-Link (India) Limited reported a 13.2% year-on-year growth in annual revenue, reaching ₹1,559.02 crore for FY26. While revenue grew steadily, net profit remained nearly flat at ₹102.95 crore compared to ₹102.05 crore in the previous year. The company announced a substantial dividend payout of ₹27.50 per share, including a ₹7.50 special dividend. The record date for the dividend is set for July 10, 2026, with the payout subject to shareholder approval at the upcoming AGM on August 10, 2026.

Annual Revenue from operations increased 13.2% YoY to ₹1,55,901.66 Lakhs.
Recommended a total dividend of ₹27.50 per share (₹20 final and ₹7.50 special dividend).
Net Profit for FY26 stood at ₹10,294.98 Lakhs, showing marginal growth over FY25's ₹10,205.29 Lakhs.
Q4 FY26 Revenue grew to ₹44,212.08 Lakhs from ₹36,813.17 Lakhs in the corresponding quarter last year.
The company fixed July 10, 2026, as the record date for dividend entitlement.

💡 Investors should focus on the high dividend yield and ensure they hold shares before the July 10 record date to qualify for the ₹27.50 payout. While top-line growth is healthy, monitoring the company's ability to translate revenue into higher bottom-line growth is essential.

View All DLINKINDIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue reached INR 1,396.21 Cr in FY25, a 12.56% increase from INR 1,240.37 Cr in FY24. While specific segment percentages aren't detailed, growth was driven by a 12% increase in H1 FY25 revenue due to price hikes in March 2024 and steady volume growth in networking products.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains a strong distribution network across India.

Profitability Margins

Net Profit Margin improved slightly to 7.48% in FY25 from 7.39% in FY24. Operating profitability has seen volatility, reaching 9.9% in FY23 before stabilizing around 8.68% in FY25 due to fluctuating raw material costs like copper.

EBITDA Margin

Operational Profit Margin was 8.68% in FY25, down from 8.93% in FY24. This 25 basis point compression was primarily due to a steep increase in copper prices in Q1 FY25, which impacted the cabling business margins despite price hikes.

Capital Expenditure

The company maintains a debt-free balance sheet with an absence of any major capital expenditure. Cash accruals of INR 40-45 Cr are expected to support liquidity without the need for debt-funded capex.

Credit Rating & Borrowing

CRISIL Ratings maintains a 'Stable' outlook. The company is debt-free with an adjusted gearing of 0 times and an interest coverage ratio of 114 times as of 2022, indicating negligible borrowing costs.

⚙️ Operational Drivers

Raw Materials

Copper (primary input for cabling business) and semiconductor chips (global shortage mentioned as a constraint). Copper price volatility directly impacts the 8-9% operating margin targets.

Import Sources

Taiwan (via parent D-Link Corporation) and China are primary sources, with geopolitical tensions between the two noted as a supply chain risk.

Key Suppliers

D-Link Corporation (Taiwan) is a major supplier, though dependence has reduced from 70% in FY14 to approximately 20% of sales currently.

Capacity Expansion

Not disclosed in available documents; the business model focuses on distribution and branding rather than heavy manufacturing expansion.

Raw Material Costs

Raw material costs are a significant portion of the INR 1,160.52 Cr purchase of stock-in-trade (FY25). Margins are sensitive to copper prices, which necessitated price hikes in March 2024 to maintain a ~9% margin.

Manufacturing Efficiency

Inventory turnover ratio improved significantly to 14.63 in FY25 from 9.32 in FY24, indicating much higher efficiency in moving stock and managing working capital.

Logistics & Distribution

The company leverages a strong pan-India distribution network and over 30 highly skilled engineers for L1 to L3 support to maintain its market leadership.

📈 Strategic Growth

Expected Growth Rate

11%

Growth Strategy

Growth will be achieved through a 6-8% annual volume expansion on a high base, price realizations in the cabling segment, and the introduction of high-end enterprise products like Layer 3 stackable managed switches and industrial-grade switches. The company is also shifting focus from retail to higher-margin enterprise PoE/PoE plus switches.

Products & Services

Switches, Wireless Local Area Network (WLAN) products, Power over Ethernet (PoE) switches, managed switches, industrial-grade switches, and cabling products.

Brand Portfolio

D-Link, TeamF1 (via subsidiary Team F1 Networks Pvt Ltd).

New Products/Services

High-end enterprise products including unmanaged long-term PoE+ switches and new generation layer 3 stackable managed switches introduced to capture the institutional segment.

Market Expansion

Targeting the enterprise and institutional sales segments to compete with Cisco India, moving away from the lower-margin home/SME segments.

Market Share & Ranking

Market leader in switches and wireless local area network (WLAN) products in India.

Strategic Alliances

Maintains a strategic relationship with parent D-Link Corporation (51% stake) for product purchases and branding/trademark usage via royalty payments.

🌍 External Factors

Industry Trends

The industry is shifting toward 'work-from-office' demand and high-end networking infrastructure. The market is growing but remains highly competitive and commoditized in the retail segment, forcing a shift toward managed enterprise solutions.

Competitive Landscape

Intense competition in SME/Home segments; Institutional segment is dominated by Cisco India.

Competitive Moat

Moat is built on an established brand and a massive distribution/support network. Sustainability is challenged by intense competition from Cisco and new entrants in the institutional segment.

Macro Economic Sensitivity

Highly sensitive to USD/INR exchange rates and global commodity prices (Copper). Rupee depreciation in FY24 actually aided realisations.

Consumer Behavior

Shift toward high-speed networking and PoE (Power over Ethernet) solutions in commercial offices as logistics ease post-pandemic.

Geopolitical Risks

Exposure to China-Taiwan tensions and the Russia-Ukraine war, which disrupt the supply of chips and raw materials, potentially leading to pricing pressure.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Ind AS and SEBI Listing Obligations (Regulation 33). Operations are subject to import/export dynamics and royalty regulations regarding the parent company.

Taxation Policy Impact

Effective tax rate is approximately 25.3% based on FY25 PBT of INR 138.03 Cr and PAT of INR 103.05 Cr.

⚠️ Risk Analysis

Key Uncertainties

Operating margins falling below 4% or revenue growth dropping significantly are cited as downward rating factors. Copper price volatility remains a primary margin risk.