AI assistant
D-Link (India) Ltd Annual Report 2026
60792_rns_2026-05-09_f02f2161-4daa-4cd1-80db-8c6bcaf8db2d.pdf
Annual Report
Open in viewerOpens in your device viewer
D-Link®
D-Link (India) Limited
REF: DLK/L&S/2026-27/5-5
Date: May 9, 2026
To,
BSE Limited
25th Floor, P.J. Towers,
Dalal Street, Mumbai-400 001
Security Code: BSE - 533146
To,
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai- 400 051.
Symbol: NSE - DLINKINDIA
Sub: Outcome of the Board Meeting and submission of Audited Financial Results (Standalone and Consolidated) for the quarter and year ended 31st March 2026.
Dear Sir/Madam,
Pursuant to regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('SEBI Listing Regulations') we would like to inform you as under:
- The Board of Directors at its meeting held today has inter alia, considered and approved the following:
a. Audited Financial Results (Standalone & Consolidated) for the quarter and year ended 31st March 2026. A copy of Audited Financial Results along with reports of the Auditors (Standalone & Consolidated) are enclosed herewith as Annexure A & B.
b. Recommended a final dividend of ₹20/- per equity share and a special dividend of ₹7.50/- per equity share (aggregating to ₹27.50/- per equity share) for the financial year ended 31st March 2026. The said Dividend, if approved by the shareholders at the ensuing AGM, shall be paid within 30 days from such approval, subject to deduction of tax at source as applicable.
c. Appointment of M/s. Kirtane & Pandit LLP, Chartered Accountants, as Internal Auditors of the Company for the Financial Year 2026-27. Refer Annexure C for the disclosures with respect to the appointment.
- Pursuant to Regulation 33 (3) (d) of SEBI Listing Regulations, we hereby declare that the Auditors of the Company have issued their reports with unmodified (i.e. unqualified) opinion on the Financial Statements (Standalone & Consolidated) for the year ended 31st March 2026. Refer Annexure D.
...2/-
Corporate Office : Kalpataru Square, 2nd Floor, Unit 24, Kondivita Lane, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 059. Tel.: +91-22-6325 5700 • Fax: +91-22-2830 1901
Registered Office : Plot No. UO2B, Verna Industrial Estate, Verna, Salcette, Goa - 403 722, India. Tel.: +91-832-2885 800 • Fax: +91-832-2885 823
Helpdesk : +91-080-69133999 (Local & STD Charges Apply) or Toll No.: 1860-233-3999 • e-mail: [email protected]
CIN : L72900GA200BPLC005775
www.dlink.co.in
D-Link®
-2-
-
The Annual General Meeting (AGM) of the Company will be held on Monday, August 10, 2026.
-
Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of SEBI Listing Regulations, the Register of Members and Share Transfer Books of the Company will remain closed from Saturday, July 11, 2026, to Friday, July 17, 2026 (both days inclusive). The Company has fixed Friday, July 10, 2026, as the Record Date for determining entitlement of Members to final dividend for the financial year ended March 31, 2026.
| Symbol | Type of security | Book Closure Period | Record Date | Purpose | |
|---|---|---|---|---|---|
| From | To | ||||
| DLINKINDIA | Equity | July 11, | July 17, | Friday, 10 | AGM and |
| 533146 | Shares | 2026 | 2026 | July, 2026 | dividend |
- The Board of Directors has given its consent to the appointment of Ms. Jui-Chuan Chang (Ms. Della Chang) a Taiwan National as independent director of the Company, subject to necessary statutory and regulatory approvals. The consent as above, for the proposed appointment were given enable her to obtain Director Identification Number (DIN) in accordance with the provisions of the Companies Act, 2013. Her appointment as Director shall be made effective by way of a separate resolution after she obtain the DIN and other statutory approvals as may be necessary.
The further details required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 will be submitted to the exchanges upon her appointment as Director on the Board of the Company.
The Board Meeting commenced at 12:40 hours and concluded at 14.35 hours.
Kindly take into record and disseminate the information.
Thanking You,
Yours faithfully,
For D-LINK (INDIA) LIMITED
Shrinivas Adikesar
Company Secretary &
Compliance Officer
M. No.: ACS-20908
ANNEXURE A
B S R & Co. LLP
Chartered Accountants
14th Floor, Central B Wing and North C Wing
Nesco IT Park 4, Nesco Center
Western Express Highway
Goregaon (East), Mumbai – 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010
Independent Auditor's Report
To the Board of Directors of D-Link (India) Limited
Report on the audit of the Standalone Annual Financial Results
Opinion
We have audited the accompanying standalone annual financial results of D-Link (India) Limited (hereinafter referred to as the “Company”) for the year ended 31 March 2026, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:
a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.
Management’s and Board of Directors’ Responsibilities for the Standalone Annual Financial Results
These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.
The Company’s Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and
Registered Office:
B S R & Co. (a partnership firm with Registration No. BAB1223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8161) with effect from October 14, 2013
14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063
Page 1 of 3
B S R & Co. LLP
Independent Auditor's Report (Continued)
D-Link (India) Limited
Other Matter(s)
a. The standalone annual financial results include the results for the quarter ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For B S R & Co. LLP
Chartered Accountants
Firm's Registration No.:101248W/W-100022
Partner
Mumbai
09 May 2026
Membership No.: 105317
UDIN:26105317GWXGIA1746
Page 3 of 3
D-Link®
D-Link (India) Limited
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2026
₹ in Lakhs
| Sr. No. | Particulars | Quarter ended 31.03.2026 | Quarter ended 31.12.2025 | Quarter ended 31.03.2025 | Year ended 31.03.2026 | Year ended 31.03.2025 |
|---|---|---|---|---|---|---|
| Audited (Refer note 2) | Unaudited | Audited (Refer note 2) | Audited | Audited | ||
| I | Revenue from operations | 44,212.08 | 39,358.84 | 36,813.17 | 1,55,901.66 | 1,37,716.42 |
| II | Other income | 361.07 | 332.54 | 608.27 | 1,529.90 | 1,904.30 |
| III | Total income (I+II) | 44,573.15 | 39,691.38 | 37,421.44 | 1,57,431.56 | 1,39,620.72 |
| IV | Expenses | |||||
| Purchases of stock-in-trade | 36,864.07 | 33,399.68 | 31,338.75 | 1,35,825.37 | 1,16,052.02 | |
| Changes in inventories of stock-in-trade | 1,155.79 | (50.65) | (294.33) | (2,669.78) | 451.49 | |
| Employee benefits expense | 1,260.97 | 1,264.52 | 1,113.03 | 4,449.99 | 3,874.32 | |
| Finance costs | 27.63 | 29.06 | 9.25 | 121.77 | 71.48 | |
| Depreciation and amortisation expense | 170.65 | 165.40 | 161.04 | 662.81 | 655.15 | |
| Other expenses | 1,453.11 | 1,299.48 | 1,432.20 | 5,188.17 | 4,713.40 | |
| 40,932.22 | 36,107.49 | 33,759.94 | 1,43,578.33 | 1,25,817.86 | ||
| V | Profit before tax (III-IV) | 3,640.93 | 3,583.89 | 3,661.50 | 13,853.23 | 13,802.86 |
| VI | Tax expense | |||||
| Current tax | 968.96 | 951.85 | 885.57 | 3,646.75 | 3,427.81 | |
| Deferred tax | (59.23) | (22.38) | 61.79 | (98.99) | 110.76 | |
| Short / (Excess) provision for tax relating to earlier years | 3.83 | - | - | 10.49 | (41.00) | |
| 913.56 | 929.47 | 947.36 | 3,558.25 | 3,497.57 | ||
| VII | Profit for the period / year (V-VI) | 2,727.37 | 2,654.42 | 2,714.14 | 10,294.98 | 10,305.29 |
| VIII | Other comprehensive income / (loss) | |||||
| (i) Items that will not be reclassified to profit or loss | ||||||
| - Remeasurements of the defined benefit plan | 33.60 | 14.30 | (23.96) | 89.32 | (2.42) | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | (8.46) | (3.59) | 6.03 | (22.48) | 0.61 | |
| Total other comprehensive income / (loss) (net of taxes) | 25.14 | 10.71 | (17.93) | 66.84 | (1.81) | |
| IX | Total comprehensive income for the period / year (VII+VIII) | 2,752.51 | 2,665.13 | 2,696.21 | 10,361.82 | 10,303.48 |
| X | Paid up equity share capital (Face value of Rs. 2/- per share) | 710.10 | 710.10 | 710.10 | 710.10 | 710.10 |
| XI | Other equity | - | - | - | 47,656.99 | 44,751.19 |
| XII | Earnings per equity share (EPS) (Face value of Rs. 2/- per share) | |||||
| (1) Basic (in Rs.) | 7.69 | 7.47 | 7.65 | 29.00 | 29.03 | |
| (2) Diluted (in Rs.) | 7.69 | 7.47 | 7.65 | 29.00 | 29.03 | |
| (Note : EPS for the respective quarters are not annualised) |
See accompanying notes to the standalone financial results
For and on behalf of the Board of Directors
of D-Link (India) Limited
CIN: L72900GA2008PLC005775
Tushak Sighat
Managing Director & CEO
DIN No. 06984518
Mumbai, 9th May, 2026
Corporate Office : Kalpataru Square, 2nd Floor, Unit 24, Kondivita Lane, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 059. Tel.: +91-22-6325 5700 • Fax: +91-22-2830 1901
Registered Office : Plot No. UO2B, Verna Industrial Estate, Verna, Salcette, Goa - 403 722, India. Tel.: +91-832-2885 800 • Fax: +91-832-2885 823
Helpdesk : +91-080-69133999 (Local & STD Charges Apply) or Toll No.: 1860-233-3999 • e-mail: [email protected]
CIN: L72900GA200BPLC005775
www.dlink.co.in
D-Link®
D-Link (India) Limited
| Standalone Statement of Assets and Liabilities | ||
|---|---|---|
| Particulars | As at 31.03.2026 | As at 31.03.2025 |
| Audited | Audited | |
| ASSETS | ||
| Non-current Assets | ||
| (a) Property, plant and equipment | 1,515.45 | 1,451.62 |
| (b) Right-of-use assets | 1,318.84 | 255.76 |
| (c) Intangible assets | - | - |
| (d) Financial assets | ||
| (i) Investment in subsidiary | 1,650.00 | 1,650.00 |
| (ii) Other financial assets | 319.62 | 1,041.72 |
| (e) Deferred tax assets (net) | 355.30 | 278.79 |
| (f) Non-current tax assets (net) | 8.98 | 16.92 |
| (g) Other non-current assets | - | - |
| Total Non-current Assets | 5,168.19 | 4,694.81 |
| Current Assets | ||
| (a) Inventories | 10,405.06 | 7,735.28 |
| (b) Financial assets | ||
| (i) Investments | 13,624.61 | 16,828.64 |
| (ii) Trade receivables | 43,854.42 | 36,464.58 |
| (iii) Cash and cash equivalents | 3,062.75 | 3,118.04 |
| (iv) Bank balances other than (iii) above | 1,622.72 | 2,881.55 |
| (v) Other financial assets | 34.03 | 22.88 |
| (c) Other current assets | 931.02 | 760.69 |
| Total Current Assets | 73,534.61 | 67,811.66 |
| Total Assets | 78,702.80 | 72,506.47 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 710.10 | 710.10 |
| (b) Other equity | 47,656.99 | 44,751.19 |
| Total Equity | 48,367.09 | 45,461.29 |
| LIABILITIES | ||
| Non-current Liabilities | ||
| (a) Financial Liabilities | ||
| (i) Lease liabilities | 859.16 | 41.40 |
| (ii) Other financial liabilities | 39.35 | 33.60 |
| Total Non-current Liabilities | 898.51 | 75.00 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Lease liabilities | 529.56 | 245.50 |
| (ii) Trade payables | ||
| (A) total outstanding dues of micro enterprises and small enterprises; and | 654.64 | 539.70 |
| (B) total outstanding dues of creditors other than micro enterprises and small enterprises | 26,578.07 | 25,133.34 |
| (iii) Other financial liabilities | 276.11 | 268.19 |
| (b) Other current liabilities | 886.43 | 572.92 |
| (c) Provisions | 294.25 | 141.39 |
| (d) Current tax liabilities (net) | 218.14 | 69.14 |
| Total Current Liabilities | 29,437.20 | 26,970.18 |
| Total Liabilities | 30,335.71 | 27,045.18 |
| Total Equity and Liabilities | 78,702.80 | 72,506.47 |
For and on behalf of the Board of Directors of D-Link (India) Limited
CIN: L72900GA2008PLC005775
Mumbai, 9th May, 2026
Registered Office : Plot No. UO2B, Verna Industrial Estate, Verna, Salcette, Goa - 403 722, India. Tel.: +91-832-2885 800 • Fax: +91-832-2885 823
Helpdesk : +91-080-69133999 (Local & STD Charges Apply) or Toll No.: 1860-233-3999 • e-mail: [email protected]
www.dlink.co.in
D-Link®
| Standalone Statement of Cash flows | ||
|---|---|---|
| Particulars | For the year ended March 31, 2026 | For the year ended March 31, 2025 |
| Audited | Audited | |
| Cash flows from operating activities | ||
| Profit before tax | 13,853.23 | 13,802.86 |
| Adjustments for: | ||
| Finance costs | 121.77 | 71.48 |
| Gain on disposal of property, plant and equipment | (1.22) | (0.23) |
| Loss / (gain) on current investments measured at FVTPL | 104.03 | (228.64) |
| Net gain on sale of current investments | (1,189.57) | (970.28) |
| (Gain) / loss on forward contract measured at FVTPL | (22.32) | 16.47 |
| Interest income | (192.62) | (219.72) |
| Allowance for expected credit loss and credit impaired on trade receivables | 16.05 | - |
| Allowance for expected credit loss on trade receivables written back | - | (172.59) |
| Bad debts written off | - | 166.55 |
| Depreciation on Right-of-use assets | 568.56 | 561.47 |
| Gain on termination / modifications of leases | (5.39) | (9.90) |
| Depreciation and amortisation expense | 94.25 | 93.68 |
| Loss / (Gain) on unrealised foreign exchange fluctuations (net) | 14.10 | (69.93) |
| Cash generated from operations before working capital changes | 13,360.87 | 13,041.22 |
| Adjustments for: | ||
| Increase in trade and other receivables | (7,405.89) | (2,698.37) |
| (Increase) / Decrease in inventories | (2,669.78) | 451.49 |
| (Increase) / Decrease in other non-current financial assets | (5.60) | 15.79 |
| Decrease / (Increase) in other current financial assets | 11.17 | (27.41) |
| Increase in other current assets | (170.33) | (139.42) |
| Increase in trade and other payables | 1,545.57 | 1,601.72 |
| Increase / (Decrease) in current provisions | 242.18 | (39.53) |
| (Decrease) / Increase in other current financial liabilities | (2.88) | 52.55 |
| Increase in other non-current financial liabilities | 5.75 | 4.95 |
| Increase in other current liabilities | 313.51 | 111.79 |
| (8,136.30) | (666.44) | |
| Cash generated from operations | 5,224.57 | 12,374.78 |
| Income taxes paid | (3,500.30) | (3,431.14) |
| Net cash generated from operating activities (A) | 1,724.27 | 8,943.64 |
| Cash flows from investing activities | ||
| Payments for purchases of property, plant and equipment | (173.30) | (20.37) |
| Proceeds on sale of property, plant and equipment | 16.44 | 0.58 |
| Payments for purchase of investments in mutual funds | (60,000.00) | (44,300.00) |
| Proceeds on sale of Investments in mutual funds | 64,289.57 | 44,442.87 |
| Redemption towards fixed deposits with bank | 2,760.03 | - |
| Payments towards fixed deposits with bank | (762.70) | (893.42) |
| Increase in earmarked bank balances | (10.80) | (10.01) |
| Interest received | 192.62 | 219.72 |
| Net cash generated from / (used in) investing activities (B) | 6,311.86 | (560.63) |
| Cash flows from financing activities | ||
| Dividends paid | (7,445.22) | (6,390.87) |
| Interest paid | (121.77) | (71.48) |
| Principal payments for lease liabilities | (524.43) | (572.30) |
| Net cash used in financing activities (C) | (8,091.42) | (7,034.65) |
| Net (Decrease) / Increase in cash and cash equivalents (D)=(A)+(B)+(C) | (55.29) | 1,348.36 |
| Cash and cash equivalents at the beginning of the year (E) | 3,118.04 | 1,769.68 |
| Cash and cash equivalents at the end of the year (D)+(E) | 3,062.75 | 3,118.04 |
Note : The Standalone statement of cash flows has been prepared under the indirect method set out in Ind AS 7 on Statement of Cash Flows.
For and on behalf of the Board of Directors
of D-Link (India) Limited
CIN : L72900GA2008PLC005775
Tuniar Sighat
Managing Director & CEO
DIN No 06984518
Helpdesk +91-080-69133999 (Local & STD Charges Apply) or Toll No.: 1860-233-3999 • e-mail: [email protected]
CIN : L72900GA200BPLC005775
D-Link®
Notes :
-
The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 9th May 2026. The statutory auditors have expressed an unmodified opinion. The standalone financial results have been prepared in accordance with Ind AS prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies and is in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
-
The Standalone figures for the quarter ended 31st March 2026 and the corresponding quarter ended in the previous year as reported in this financial results are balancing figures between audited figures in respect of full financial year and published year to date unaudited figures up to the third quarter for the relevant financial year. Also the figures up to the end of the third quarter had only been reviewed and not subjected to audit.
-
The Company has received a demand order from the Commissioner of Customs (Adjudication), Mumbai on 19th January 2026, contending that royalty payments made to parent company, D-Link Corporation, Taiwan, on sale of third party product should have been included in the assessable value of goods imported from third-party vendors. The total amount demanded is ₹ 611.49 Lakhs (inclusive of differential duty, fines, and penalties, but excluding interest). Against this demand, the Company had previously made voluntary ad-hoc payments of ₹ 100.00 Lakhs during the investigation which have been appropriated towards demand. The Company has challenged the Order-in-Original by filing an appeal before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai on 7th April 2026.
-
The Government of India has consolidated 29 existing labour legislations into a united framework comprising four Labour Code viz Code on wages 2019, Code on Social Security 2020, Industrial Relation Code 2020, and Occupational Safety, Health and Working Condition Code 2020 (collectively referred to as the New Labour Codes). These Codes have been made effective from 21 November 2025. All supporting rules under these codes are yet to be notified. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations.
Based on an actuarial valuation and best estimates in accordance with Ind AS 19 – “Employee Benefits”, and in line with the guidance issued by the Institute of Chartered Accountants of India, the Company has recognised incremental estimated obligations aggregating to ₹ 243.87 lakhs (consisting of ₹ 230.48 lakhs for gratuity and ₹ 13.39 lakhs for leave encashment) under “Employee Benefits Expense” in the Statement of Profit and Loss for year ended 31st March 2026. These obligations primarily relate to past service costs arising from the implementation of the New Labour Codes.
The Company is in the process of reassessing and implementing necessary changes to its existing employee benefit policies. It continues to monitor the finalisation of the Central and State Rules and further clarifications issued by the Government under the New Labour Codes and will give appropriate accounting effect to such developments, as and when required.
-
The Company operates in a single reportable business segment namely networking products.
-
The Board of Directors has recommended a final dividend of Rs. 20/- per equity share and a special dividend of Rs. 7.50/- per equity share aggregating to Rs. 27.50/- per equity share for the financial year ended 31st March 2026, will be paid subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.
-
The results of the Company are available for investors at https://investors.dlink.co.in/, www.nseindia.com and www.bseindia.com.
For and on behalf of the Board of Directors
of D-Link (India) Limited
CIN : L72900GA2008PLC005775
Tushar\Sighat
Managing Director & CEO
DIN No. 06984518
AXIN EXURE - B
B S R & Co. LLP
Chartered Accountants
14th Floor, Central B Wing and North C Wing
Nesco IT Park 4, Nesco Center
Western Express Highway
Goregaon (East), Mumbai – 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010
Independent Auditor's Report
To the Board of Directors of D-Link (India) Limited
Report on the audit of the Consolidated Annual Financial Results
Opinion
We have audited the accompanying consolidated annual financial results of D-Link (India) Limited (hereinafter referred to as the “Holding Company”) and its subsidiary (Holding Company and its subsidiary together referred to as “the Group”), for the year ended 31 March 2026, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated annual financial results:
a. include the annual financial results of the following entity
| Sr. No. | Name of the entity | Relationship |
|---|---|---|
| 1 | TeamF1 Networks Private Limited | Subsidiary |
b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.
Management’s and Board of Directors’ Responsibilities for the Consolidated Annual Financial Results
These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.
The Holding Company’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards
Registered Office:
B S R & Co. (a partnership firm with Registration No. BAB1223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013
14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063
Page 1 of 3
B S R & Co. LLP
Independent Auditor's Report (Continued)
D-Link (India) Limited
prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.
Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated annual financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the consolidated annual financial results.
Page 2 of 3
including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance of the Holding Company and such other entity included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
Other Matter(s)
a. The consolidated annual financial results include the results for the quarter ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For B S R & Co. LLP
Chartered Accountants
Firm's Registration No.:101248W/W-100022
Vikas R Kasat
Partner
Membership No.: 105317
UDIN:26105317EVNLYP2865
Mumbai
09 May 2026
Page 3 of 3
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2026
₹ in Lakhs
| Sr. No. | Particulars | Quarter ended 31.03.2026 | Quarter ended 31.12.2025 | Quarter ended 31.03.2025 | Year ended 31.03.2026 | Year ended 31.03.2025 |
|---|---|---|---|---|---|---|
| Audited (Refer note 2) | Unaudited | Audited (Refer note 2) | Audited | Audited | ||
| I | Revenue from operations | 44,371.41 | 39,521.00 | 36,975.52 | 1,56,570.16 | 1,38,386.22 |
| II | Other income | 392.33 | 364.41 | 642.38 | 1,663.75 | 2,036.79 |
| III | Total income (I+II) | 44,763.74 | 39,885.41 | 37,617.90 | 1,58,233.91 | 1,40,423.01 |
| IV | Expenses | |||||
| Purchases of stock-in-trade | 36,864.07 | 33,399.68 | 31,338.75 | 1,35,825.37 | 1,16,052.02 | |
| Changes in inventories of stock-in-trade | 1,155.79 | (50.65) | (294.33) | (2,669.78) | 451.49 | |
| Employee benefits expense | 1,376.72 | 1,400.85 | 1,221.52 | 4,959.21 | 4,371.48 | |
| Finance costs | 30.02 | 31.71 | 11.16 | 132.85 | 74.75 | |
| Depreciation and amortisation expense | 184.16 | 178.70 | 171.65 | 716.09 | 693.48 | |
| Other expenses | 1,469.46 | 1,316.71 | 1,463.66 | 5,263.92 | 4,811.47 | |
| 41,080.22 | 36,277.00 | 33,912.41 | 1,44,227.66 | 1,26,454.69 | ||
| V | Profit before tax (III-IV) | 3,683.52 | 3,608.41 | 3,705.49 | 14,006.25 | 13,968.32 |
| VI | Tax expense | |||||
| Current tax | 978.33 | 961.24 | 895.61 | 3,693.67 | 3,469.22 | |
| Deferred tax | (59.82) | (26.23) | 65.13 | (107.77) | 112.36 | |
| (Excess) / Short provision for tax relating to earlier years | 3.83 | 4.04 | 1.65 | 14.53 | (39.35) | |
| 922.34 | 939.05 | 962.39 | 3,600.43 | 3,542.23 | ||
| VII | Profit for the period / year (V-VI) | 2,761.18 | 2,669.36 | 2,743.10 | 10,405.82 | 10,426.09 |
| VIII | Other comprehensive income / (loss) | |||||
| (i) Items that will not be reclassified to profit or loss | ||||||
| - Remeasurements of the defined benefit plan | 35.16 | 14.62 | (21.87) | 93.70 | (5.43) | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | (8.85) | (3.67) | 5.51 | (23.58) | 1.37 | |
| Total other comprehensive income / (loss) (net of taxes) | 26.31 | 10.95 | (16.36) | 70.12 | (4.06) | |
| IX | Total comprehensive income for the period / year (VII+VIII) | 2,787.49 | 2,680.31 | 2,726.74 | 10,475.94 | 10,422.03 |
| X | Profit attributable to: | |||||
| - Owners of the Company | 2,761.18 | 2,669.35 | 2,743.10 | 10,405.80 | 10,426.07 | |
| - Non-controlling interests | - | 0.01 | - | 0.02 | 0.02 | |
| 2,761.18 | 2,669.36 | 2,743.10 | 10,405.82 | 10,426.09 | ||
| XI | Other comprehensive income / (loss) attributable to: | |||||
| - Owners of the Company | 26.31 | 10.95 | (16.36) | 70.12 | (4.06) | |
| - Non-controlling interests | - | - | - | - | - | |
| 26.31 | 10.95 | (16.36) | 70.12 | (4.06) | ||
| XII | Total comprehensive income attributable to: | |||||
| - Owners of the Company | 2,787.49 | 2,680.30 | 2,726.74 | 10,475.92 | 10,422.01 | |
| - Non-controlling interests | - | 0.01 | - | 0.02 | 0.02 | |
| 2,787.49 | 2,680.31 | 2,726.74 | 10,475.94 | 10,422.03 | ||
| XIII | Paid up equity share capital | 710.10 | 710.10 | 710.10 | 710.10 | 710.10 |
| (Face value of Rs. 2/- per share) | ||||||
| XIV | Other equity | - | - | - | 49,858.43 | 46,838.53 |
| XV | Earnings per equity share (EPS) | |||||
| (Face value of Rs. 2/- per share) | ||||||
| (1) Basic (in Rs.) | 7.77 | 7.52 | 7.73 | 29.31 | 29.37 | |
| (2) Diluted (in Rs.) | 7.77 | 7.52 | 7.73 | 29.31 | 29.37 | |
| (Note : EPS for the respective quarters are not annualised) |
See accompanying notes to the consolidated financial results
For and on behalf of the Board of Directors
of D-Link (India) Limited
CIN 51.2200057A2008PLC005775
Tushar Sighat
Managing Director & CEO
DDI No. 06984518
Corporate Office : Kelpataru Square, 2nd Floor, Unit 24, Kondivita Lane, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 059. Tel.: +91-22-6325 5700 • Fax: +91-22-2830 1901
CIN : L72900GA2008PLC005775
| Consolidated Statement of Assets and Liabilities | ||
|---|---|---|
| Particulars | As at 31.03.2026 | As at 31.03.2025 |
| Audited | Audited | |
| ASSETS | ||
| Non-current Assets | ||
| (a) Property, plant and equipment | 1,525.14 | 1,462.83 |
| (b) Right-of-use assets | 1,407.36 | 391.87 |
| (c) Goodwill | 1,534.96 | 1,534.96 |
| (d) Intangible assets | 2.97 | - |
| (e) Financial assets | ||
| (i) Other financial assets | 337.63 | 1,058.09 |
| (f) Deferred tax assets (net) | 370.98 | 286.81 |
| (g) Non current tax assets (net) | 8.98 | 43.67 |
| (h) Other non-current assets | - | - |
| Total Non-current Assets | 5,188.02 | 4,778.23 |
| Current Assets | ||
| (a) Inventories | 10,405.06 | 7,735.28 |
| (b) Financial assets | ||
| (i) Other investments | 13,624.61 | 16,828.64 |
| (ii) Trade receivables | 44,339.81 | 36,585.73 |
| (iii) Cash and cash equivalents | 3,079.22 | 3,152.05 |
| (iv) Bank balances other than (iii) above | 3,329.43 | 4,932.73 |
| (v) Other financial assets | 34.03 | 22.88 |
| (c) Other current assets | 944.53 | 769.25 |
| Total Current Assets | 75,956.69 | 70,026.56 |
| Total Assets | 81,144.71 | 74,804.79 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 710.10 | 710.10 |
| (b) Other equity | 49,858.43 | 46,838.53 |
| Equity attributable to owners of the Company | 50,568.53 | 47,548.63 |
| Non-controlling Interests | 0.27 | 0.25 |
| Total Equity | 50,568.80 | 47,548.88 |
| LIABILITIES | ||
| Non-current Liabilities | ||
| (a) Financial Liabilities | ||
| (i) Lease liabilities | 903.92 | 133.21 |
| (ii) Other financial liabilities | 39.35 | 33.60 |
| Total Non-current Liabilities | 943.27 | 166.81 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Lease liabilities | 576.61 | 285.82 |
| (ii) Trade payables | ||
| (A) total outstanding dues of micro enterprises and small enterprises; and | 654.64 | 539.70 |
| (B) total outstanding dues of creditors other than micro enterprises and small enterprises | 26,594.08 | 25,156.03 |
| (iii) Other financial liabilities | 276.11 | 285.16 |
| (b) Other current liabilities | 955.98 | 582.64 |
| (c) Provisions | 348.17 | 170.61 |
| (d) Current tax liabilities (net) | 227.05 | 69.14 |
| Total Current Liabilities | 29,632.64 | 27,089.10 |
| Total Liabilities | 30,575.91 | 27,255.91 |
| Total Equity and Liabilities | 81,144.71 | 74,804.79 |
| Consolidated Statement of Cash Flows | ||
|---|---|---|
| Particulars | For the year ended March 31, 2026 | For the year ended March 31, 2025 |
| Audited | Audited | |
| Cash flows from operating activities | ||
| Profit before tax | 14,006.25 | 13,968.32 |
| Adjustments for: | ||
| Finance costs | 132.85 | 74.75 |
| Gain on disposal of property, plant and equipment | (1.33) | (0.34) |
| Loss / (gain) on current investments measured at FVTPL | 104.03 | (228.64) |
| Net gain on sale of current investments | (1,189.57) | (970.28) |
| (Gain) / loss on forward contract measured at FVTPL | (22.32) | 16.47 |
| Allowance for expected credit loss and credit impaired on trade receivables | 16.05 | - |
| Interest income on fixed deposits with banks | (324.06) | (350.14) |
| Interest income on others | (1.64) | (1.55) |
| Allowance for expected credit loss on trade receivables written back | - | (172.59) |
| Bad debts written off | - | 173.30 |
| Depreciation on Right-of-use assets | 616.15 | 561.47 |
| Depreciation and amortization expense | 99.94 | 132.01 |
| Gain on termination / modifications of leases | (5.39) | (9.90) |
| Loss / (Gain) on unrealised foreign exchange fluctuations (net) | 13.86 | (69.81) |
| 13,444.82 | 13,123.07 | |
| Adjustments for: | ||
| Increase in trade and other receivables | (7,769.89) | (2,658.11) |
| (Increase) / Decrease in inventories | (2,669.78) | 451.49 |
| (Increase) / Decrease in other non-current financial assets | (5.60) | 13.02 |
| Decrease / (Increase) in other current financial assets | 11.17 | (27.41) |
| Increase in other current assets | (170.90) | (137.40) |
| Increase in trade and other payables | 1,538.89 | 1,607.07 |
| Increase / (Decrease) in current provisions | 266.88 | (30.35) |
| (Decrease) / Increase in other current financial liabilities | (19.85) | 40.52 |
| Increase in other non-current financial liabilities | 5.75 | 4.95 |
| Increase in other current liabilities | 373.34 | 97.88 |
| (8,439.99) | (638.34) | |
| Cash generated from operations | 5,004.83 | 12,484.73 |
| Income taxes paid | (3,515.60) | (3,488.48) |
| Net cash generated from operating activities (A) | 1,489.23 | 8,996.23 |
| Cash flows from investing activities | ||
| Payments for purchases of property, plant and equipment | (180.44) | (24.84) |
| Proceeds on sale of property, plant and equipment | 16.57 | 0.69 |
| Payments for purchase of investments in mutual funds | (60,000.00) | (44,300.00) |
| Proceeds on sale of Investments in mutual funds | 64,289.57 | 44,442.87 |
| Redemption towards fixed deposits with bank | 2,904.50 | - |
| Payments towards fixed deposits with bank | (762.70) | (1,098.87) |
| Increase in earmarked bank balances | (10.80) | (10.01) |
| Interest received | 324.06 | 397.56 |
| Net cash generated from / (used) in investing activities (B) | 6,580.76 | (592.60) |
| Cash flows from financing activities | ||
| Dividends paid | (7,445.22) | (6,390.87) |
| Interest paid | (132.85) | (74.75) |
| Principal payments for lease liabilities | (564.75) | (610.20) |
| Net cash used in financing activities (C) | (8,142.82) | (7,075.82) |
| Net (decrease) / increase in cash and cash equivalents (D)=(A)+(B)+(C) | (72.83) | 1,327.83 |
| Cash and cash equivalents at the beginning of the year (E) | 3,152.05 | 1,824.22 |
| Cash and cash equivalents at the end of the year (D)+(E) | 3,079.22 | 3,152.05 |
Note : The Consolidated statement of cash flows has been prepared under the indirect method set out in Ind AS 7 on Statement of Cash Flows.
Toshar Sighat
DIN No. 06984518
CIN: L72900GA200BPLC005775
D-Link®
D-Link (India) Limited
Notes :
-
The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 9th May 2026. The statutory auditors have expressed an unmodified opinion. The consolidated financial results have been prepared in accordance with Ind AS prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies and is in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
-
The consolidated figures for the quarter ended 31st March 2026 and the corresponding quarter ended in the previous year as reported in this financial results are balancing figures between audited figures in respect of full financial year and published year to date unaudited figures up to the third quarter for the relevant financial year. Also the figures up to the end of the third quarter had only been reviewed and not subjected to audit.
-
The Parent Company has received a demand order from the Commissioner of Customs (Adjudication), Mumbai on 19th January 2026, contending that royalty payments made to parent company, D-Link Corporation, Taiwan, on sale of third party product should have been included in the assessable value of goods imported from third-party vendors. The total amount demanded is ₹ 611.49 Lakhs (inclusive of differential duty, fines, and penalties, but excluding interest). Against this demand, the Parent Company had previously made voluntary ad hoc payments of ₹ 100.00 Lakhs during the investigation which have been appropriated towards demand. The Parent Company has challenged the Order-in-Original by filing an appeal before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai on April 7, 2026.
-
The Government of India has consolidated 29 existing labour legislations into a united framework comprising four Labour Code viz Code on wages 2019, Code on Social Security 2020, Industrial Relation Code 2020, and Occupational Safety, Health and Working Condition Code 2020 (collectively referred to as the New Labour Codes). These Codes have been made effective from 21 November 2025. All supporting rules under these codes are yet to be notified. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations.
Based on an actuarial valuation and best estimates in accordance with Ind AS 19 – “Employee Benefits”, and in line with the guidance issued by the Institute of Chartered Accountants of India, the Group has recognised incremental estimated obligations aggregating to ₹ 259.99 lakhs (consisting of ₹ 249.73 lakhs for gratuity and ₹ 10.26 lakhs for leave encashment) under “Employee Benefits Expense” in the Statement of Profit and Loss for year ended 31st March 2026. These obligations primarily relate to past service costs arising from the implementation of the New Labour Codes.
The Group is in the process of reassessing and implementing necessary changes to its existing employee benefit policies. It continues to monitor the finalisation of the Central and State Rules and further clarifications issued by the Government under the New Labour Codes and will give appropriate accounting effect to such developments, as and when required.
-
The Parent Company operates in a single reportable business segment namely networking products. The Subsidiary operates in a single reportable business segment namely services relating to networking products. The Group is primarily engaged in the business of providing networking products and related services in relation to security features which is the only reportable business segment.
-
The Board of Directors of the Parent Company has recommended a final dividend of Rs. 20/- per equity share and a special dividend of Rs. 7.50/- per equity share aggregating to Rs. 27.50/- per equity share for the financial year ended 31st March 2026, will be paid subject to the approval of the shareholders in the ensuing Annual General Meeting of the Parent Company.
-
The results of the Group are available for investors at https://investors.dlink.co.in/, www.nseindia.com and www.bseindia.com.
For and on behalf of the Board of Directors
of D-Link (India) Limited
CIN : L72900GA2008PLC005775
Tushar Sighat
Managing Director & CEO
DIN No. 06984518
Annexure C
The disclosures with respect to the above appointments, as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No.HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026:
| SI No | Particulars | Details |
|---|---|---|
| 1 | Name of the Auditors | M/s. Kirtane & Pandit LLP |
| 2 | Reasons for Change viz. appointment, removal, re appointment, resignation etc. | Appointment |
| 3 | Date of appointment | May 9, 2026 |
| 4 | Term of appointment | For the financial year 2026-27 |
| 5 | Brief profile (in case of Appointment) | Kirtane & Pandit LLP, Chartered Accountants is a 70+ year-old Accounting, Auditing & Consulting firm with a strong national presence and a trusted network of financial experts. The firm offers comprehensive Assurance, Accounting, and Advisory services to reputed and Listed companies across diverse industries worldwide. |
| 6 | Disclosure of relationships between Directors (in case of appointment) | Not Applicable |
ANNEYURE - D
Date: May 9, 2026
To,
The Board of Directors
Mumbai.
Subject: Declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations) 2015
Dear Sir,
Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that the Statutory Auditors of the Company, M/s B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022) have issued an Audit Report with an unmodified opinion on the Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended on 31st March 2026.
For D-Link (India) Limited
Vinay Joshi
Chief Financial Officer
Registered Office : Plot No. UO2B, Verna Industrial Estate, Verna, Salcette, Goa - 403 722, India, Tel.: +91-832-2885 800 • Fax: +91-832-2885 823