Daybreak How Doms is schooling ITC in India’s stationery business
Oct 28, 2025
Uncover the thrilling rivalry between Doms and ITC in India's stationery market. Doms is surging forward, with its IPO catalyzing explosive sales growth and an ambitious product lineup. Discover how Doms thrives on in-house manufacturing, strategic acquisitions, and innovative marketing strategies. The company's focus on product perfection, from dent-proof geometry boxes to a child-focused ecosystem, sets it apart. With aspirations for global reach and a sizable new manufacturing facility, Doms is on a determined path to dethrone ITC.
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Unexpected Challenger To A Giant
- ITC, a 115-year conglomerate, dominated stationery via its paper mills and brands like Classmate and Papercraft.
- Doms emerged as a focused challenger targeting that same stationery market with rapid growth after its 2023 IPO.
IPO Fueled Rapid Growth
- Doms grew sales from ~₹1,200 crore pre-IPO to ₹1,900 crore by FY25 and its market value tripled to ~₹15,500 crore.
- The IPO accelerated distribution and investor interest, turning pencils into a high-growth business.
Building A Child Ecosystem
- Doms is diversifying beyond stationery into toys, bags, and diapers to create a child-focused ecosystem.
- The goal is cross-selling across age segments to serve children from kindergarten through teens.