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Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-08-25), the stock price of DIC India is ₹592.05. DIC India's graham number for the quarter that ended in Jun. 2026 was ₹603.15. Therefore, DIC India's Price to Graham Number ratio for today is 0.98.
The historical rank and industry rank for DIC India's Graham Number or its related term are showing as below:
NSE:DICIND'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.85 Med: 1.15 Max: 3.35
Current: 0.98
During the past 13 years, the highest Price to Graham Number ratio of DIC India was 3.35. The lowest was 0.85. And the median was 1.15.
NSE:DICIND's Price-to-Graham-Number is ranked better than 68.31% of 1199
companies
in the Chemicals industry
Industry Median: 1.45
vs NSE:DICIND: 0.98
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
DIC India's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
592.05
/
603.15
=
0.98
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
DIC India Graham Number Related Terms
DIC India Graham Number Historical Data
* Premium members only.
The historical data trend for DIC India's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:DICIND vs LIN, SHW, ECL: Graham Number Comparison
For the Specialty Chemicals subindustry, DIC India's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
DIC India Price-to-Graham-Number vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, DIC India's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where DIC India's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
DIC India (NSE:DICIND) has a Graham Number of ₹603.15 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on DIC India and its competitors. According to the industry distribution chart, DIC India ranks #380 out of 1199 companies in the Chemicals industry, placing it in the top 31.7%.
Is DIC India's Graham Number too high?
DIC India's current Graham Number is ₹603.15. Based on the distribution chart, DIC India ranks #380 out of 1199 companies in the Chemicals industry, which is above the industry midpoint. Overall, DIC India has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does DIC India's Graham Number compare to LIN and SHW?
According to the Chemicals industry distribution chart, DIC India ranks #380 out of 1199 companies for Graham Number. This puts DIC India in the upper half of its industry. The industry median Graham Number is 1.45. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Chemicals company?
The median Graham Number among Chemicals companies is 1.45, based on 1,199 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on DIC India and its competitors. For the Chemicals industry, the median Graham Number is 1.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DIC India's current Graham Number is ₹603.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DIC India stock overvalued right now?
Based on GuruFocus' analysis, DIC India (NSE:DICIND) is currently considered Fairly Valued. The stock's GF Value™ is ₹587.98, compared to a current price of ₹592.05 — trading 0.7% above its estimated fair value. The current Graham Number is ₹603.15. DIC India's overall GF Score™ is 67/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For DIC India (NSE:DICIND), the current Graham Number is ₹603.15 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is DIC India (NSE:DICIND) Overvalued in 2026?
Based on GuruFocus' analysis, DIC India stock appears to be overvalued.
The current stock price of ₹592.05 is trading 0.7% above its estimated GF Value™ of ₹587.98.
GuruFocus considers DIC India to be Fairly Valued.
Key valuation signals for NSE:DICIND:
Graham Number: ₹603.15
GF Value™: ₹587.98 vs. price of ₹592.05 (0.7% above fair value)
No single metric tells the full story. See the NSE:DICIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
DIC India Ltd is an Indian company engaged in the business of manufacturing printing inks, which cover newsprint ink, offset ink, and liquid ink used in newspapers, other publications, and the packaging industries. It also provides lamination adhesives. The company's product portfolio comprises gravure printing inks, offset inks, barrier coatings, adhesives, metal deco inks, and specialty inks, among others. Geographically, the company generates the majority of its revenue from the sale of its products in its domestic market, and the rest through exports.
67GF Score
Get the complete analysis for NSE:DICIND
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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