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D-Link (India) Limited (DLINKINDIA) Fair Value & Analysis

Technology · IN · Market cap ₹15.8B

DL D-Link (India) Limited DLINKINDIA · BSE
Price₹446.40
Fair Value₹481.60
Upside+7.9%
Quality66/100
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Expensive Growth
Thin margins · 6.4% net margin
generates free cash flow
Moderate moat 56/100
Evidence: High Range ₹236.53 – ₹851.24 Share as image

Fair value as of: Aug 20, 2026

From 23 valuation models · updated today

Share price −0.1% over the past month.

A solid business, currently priced close to our fair value.

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What matters now

  • The model range is unusually wide (₹236.53 to ₹851.24). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

₹634.70 ₹82.11 Fair Value ₹481.60 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range ₹82.11 – ₹634.70 · fair‑value band ₹236.53 – ₹851.24 · the ₹446.40 price screens below the ₹481.60 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

D-Link (India) Limited (DLINKINDIA) currently trades at ₹446.40, while our model-based Fair Value estimate is ₹481.60, implying the stock looks roughly 7.9% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, D-Link (India) Limited generated revenue of ₹16.7B at a net margin of 6.4%. Revenue grew 30.5% year over year. It earns a return on equity of 21.2%. The stock trades on a trailing P/E of 14.8. Fundamentals as of Aug 20, 2026

Our scenario range runs from ₹236.53 (bear case) to ₹851.24 (bull case); at ₹446.40, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 8%, DLINKINDIA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹192.77 ₹255.97 ₹1,079 76
Growth DCF ₹56.84 ₹94.96 ₹160.75 72
Growth-Adj P/E ₹480.58 ₹686.54 ₹892.50 68
All 23 models by family
DCF Models
FCF DCF ₹57.45 ₹99.69 ₹175.10 38
Owner Earnings ₹416.41 ₹769.58 ₹1,400 31
5Y Revenue Exit ₹243.93 ₹489.11 ₹836.59 39
5Y EBITDA Exit ₹345.83 ₹703.20 ₹1,168 41
5Y P/E Exit ₹415.80 ₹850.21 ₹1,365 38
10Y Revenue Exit ₹170.38 ₹383.82 ₹737.56 36
10Y EBITDA Exit ₹249.79 ₹542.42 ₹1,020 37
10Y P/E Exit ₹296.55 ₹651.33 ₹1,188 35
Earnings-Based
Graham-Dodd ₹199.30 ₹985.79 ₹1,360 54
Lynch FV ₹265.68 ₹379.54 ₹493.40 50
PEG = 1.0 ₹265.68 ₹379.54 ₹493.40 46
EPV ₹266.24 ₹309.16 ₹346.72 59
Multiples
P/E Multiple ₹615.47 ₹820.63 ₹1,026 63
P/S Multiple ₹373.68 ₹498.24 ₹622.80 58
P/B Multiple ₹373.68 ₹498.24 ₹622.80 55
EV/EBIT ₹646.42 ₹859.00 ₹1,072 53
EV/EBITDA ₹514.21 ₹682.73 ₹851.24 54
EV/Revenue ₹331.09 ₹469.27 ₹607.45 43
Asset-Based
NCAV (Graham) ₹71.21 ₹95.43 ₹142.43 50
Growth DCF
Growth DCF ₹56.84 ₹94.96 ₹160.75 72
Economic Profit
Residual Income ₹192.77 ₹255.97 ₹1,079 76
ROIC Compounder ₹305.09 ₹413.28 ₹556.08 67
Growth Earnings
Growth-Adj P/E ₹480.58 ₹686.54 ₹892.50 68

Widest divergence: Growth Earnings (₹686.54) versus Growth DCF (₹94.96). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹16.7B
Revenue growth (YoY) +30.5%
Net margin 6.4%
Return on equity 21.2%
Free cash flow ₹131M FY2026
P/E ratio 14.8
More key figures
Operating margin 7.2%
EPS (TTM) ₹30.20
EPS growth (YoY) +13.2%

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 54

Profitability 67
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

D-Link (India) Limited markets and distributes D-Link branded networking products for consumers, small businesses, medium to large-sized enterprises, and service providers in India.

Full company description

D-Link (India) Limited markets and distributes D-Link branded networking products for consumers, small businesses, medium to large-sized enterprises, and service providers in India. The company offers home networking products, such as Wi-Fi systems, routers, range extenders, adapters, switches, DSL modems and routers, and mobile Wi-Fi hotspots; home cameras, CCTV solutions, smart plugs, and sensors; USB hubs; smart home eco systems; and cloud services. It also provides core and edge routers; chassis, cloud managed, unmanaged, smart managed, fully managed, and industrial switches, as well as switch accessories; and video management software, and related accessories. In addition, the company offers point-to-point/multipoint, software managed, and controller managed access points, as well as wireless controllers; VPN routers; copper, fiber, and structured cabling solutions; and optical transport network accessories and switches. Further, it provides nuclias cloud, a cloud-based networking solution; and nuclias connect, a network management solution. The company was formerly known as Smartlink Network Systems Limited. D-Link (India) Limited was founded in 1986 and is headquartered in Mumbai, India. The company is a subsidiary of D-Link Holding Mauritius Inc.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

D-Link (India) Limited reported revenue of ₹15.7B in FY2026 versus ₹9.2B in FY2022, a compound +14.3%/yr. Reported net income was ₹1.0B in FY2026, compounding +25.2%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹15.7B
Latest YoY
+13.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.6%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.8%
Revenue +14.3%/yr
FY22 ₹9.2B
FY23 ₹11.8B
FY24 ₹12.4B
FY25 ₹13.8B
FY26 ₹15.7B
Net income +25.2%/yr
FY22 ₹423M
FY23 ₹864M
FY24 ₹926M
FY25 ₹1.0B
FY26 ₹1.0B

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Cite: Fair Value Calculator (2026). "D-Link (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/DLINKINDIA.BSE

Peer Group

Communication Equipment · 303 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 66 · Top 25%
Fair Value upside +8% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 31% · Top 25%
Dividend yield (TTM) 4.7% · Top 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 14.8× · Cheaper than 75% of peers
P/B 3.13× · Pricier than median
P/S (TTM) 0.95× · Cheaper than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 11.9× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $111.61 $61.53 -45%
Zhongji Innolight Co 300308 ¥921.00 ¥171.09 -81%
Foxconn Industrial Internet Co 601138 ¥61.83 ¥28.65 -54%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 -59%
Nokia Oyj NOK $10.32 $3.77 -63%
Motorola Solutions, Inc MSI $469.74 $236.33 -50%
Suzhou TFC Optical Communication Co 300394 ¥240.05 ¥43.67 -82%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD -50%
Telefonaktiebolaget LM Ericsson (publ), ERICB kr 96.52 kr 157.82 +64%
ZTE Corporation 000063 ¥33.67 ¥19.72 -41%

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Frequently asked questions

Is D-Link (India) Limited (DLINKINDIA) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of ₹481.60 versus a price of ₹446.40, about +8% (fairly valued).
What is the fair value of DLINKINDIA?
Our model-based fair value for D-Link (India) Limited is ₹481.60 (as of Aug 20, 2026), built from audited fundamentals. The current price: ₹446.40.
What is the quality score of DLINKINDIA?
D-Link (India) Limited has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of D-Link (India) Limited (DLINKINDIA)?
D-Link (India) Limited reported trailing-twelve-month revenue of about ₹16.7B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of DLINKINDIA?
The net profit margin of D-Link (India) Limited is about 6.4%, meaning it keeps roughly 6.4% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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