If you’ve ever used a Classmate notebook or a Doms pencil, you’ve already been an unwitting part of one of India’s quietest rivalries in action.

For years, ITC ruled the stationery aisle — backed by its giant paper mills and powerful brands. But Gujarat-based Doms is catching up fast.

Since its 2023 IPO, Doms’ sales have surged, its stock has tripled, and it’s closing in on ITC’s notebook empire.

With everything made in-house and a perfectionist at the helm, Doms is turning pencils into profit, and giving one of India’s biggest conglomerates a run for its money.

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