UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                        Washington, D. C.  20549-1004

                               FORM 10-Q

     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
                          EXCHANGE ACT OF 1934

             FOR THE QUARTERLY PERIOD ENDED    June 30, 1997

                    COMMISSION FILE NUMBER    0-2413

                         MACDERMID, INCORPORATED
          (Exact name of registrant as specified in its charter)

             Connecticut                             06-0435750
   (State or other jurisdiction of                (I.R.S. Employer
   incorporation or organization)                 identification No.)

245 Freight Street, Waterbury, Connecticut               06702
(Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code    (203) 575-5700

                              NONE
Former name, former address and former fiscal year, if changed since 
last report.

Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities and Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that
the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days.

                                   Yes  [X]     No [ ]

Indicate the number of shares outstanding of each of the issuer's classes 
of common stock, as of the latest practicable date.

Common Stock, no par value - 8,396,933 shares as of August 1, 1997.















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                                                          -2-



                            MACDERMID, INCORPORATED

 
                                   INDEX

PART I.  Financial Information

  Item 1.  Financial Statements

                                                                Page No.
    Consolidated Condensed Balance Sheets
      June 30, 1997 and March 31, 1997                             3-4

    Consolidated Condensed Statements of Earnings 
      and Retained Earnings - Three Months
      Ended June 30, 1997 and 1996                                   5

    Consolidated Condensed Statements of Cash Flows -
      Three Months Ended June 30, 1997 and 1996                      6

    Notes to Consolidated Condensed Financial Statements             7

  Item 2.  Management's Discussion and Analysis of 
             Financial Condition and Results of Operations         8-9


PART II.  Other Information                                          9

  Signatures                                                        10













 












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                                                                 -3-
<TABLE>

PART I. - FINANCIAL INFORMATION

                        MACDERMID, INCORPOROATED
                  CONSOLIDATED CONDENSED BALANCE SHEETS
         (Amounts in thousands of dollars except share amounts)
<CAPTION> 
                                                  June 30,     March 31,
                                                    1997         1997
                                                 -----------   --------- 
                                                 (Unaudited)   (Audited)
<S>                                               <C>          <C>
               ASSETS
Current Assets:
    Cash and Cash Equivalents                     $  6,414     $  6,530
    Accounts and Notes Receivable
      (Net of Allowance for Doubtful
      Receivables of $3,383 and $3,379)             65,015       61,419
    Inventories
      Finished Goods                                25,567       23,125
      Raw Materials                                 16,265       17,623
                                                  --------     --------
                                                    41,832       40,748
    Prepaid Expenses                                 2,231        2,207
    Deferred Income Tax Asset                        4,803        4,808
                                                  --------     --------
        Total Current Assets                       120,295      115,712

Property, Plant and Equipment (Net of Accumulated
  Depreciation of $42,672 and $41,424)              40,532       41,544

Goodwill, net                                       75,345       76,346
Other Assets                                        26,964       27,376
                                                  --------     --------
        Total Assets                              $263,136     $260,978
                                                  ========     ========
<FN>
See accompanying notes to consolidated condensed financial statements.
</TABLE>



















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                                                               -4-
<TABLE>

<CAPTION>
                                                 June 30,     March 31,
                                                   1997         1997
                                                -----------   ---------
                                                (Unaudited)   (Audited)
<S>                                               <C>          <C>
     LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
  Notes Payable                                   $  5,801     $  9,059 
  Current Installments of Long-term Obligations      9,380        7,816
  Accounts and Dividends Payable                    24,595       22,181
  Accrued Expenses                                  20,496       23,015
  Income Taxes                                       7,645        6,758
                                                  --------     --------
      Total Current Liabilities                     67,917       68,829

Long-term Obligations                              102,187       75,165
Accrued Postretirement and Postemployment Benefits   4,191        4,157
Deferred Income Taxes                                  276          245
Minority Interest in Subsidiaries                       91           88
Preferred Stock--6% Redeemable Series A (no par)         -       32,436

Shareholders' Equity
  Common Stock Stated Value $1 per Share            12,890       12,800
  Additional Paid-In Capital                         2,580          959
  Retained Earnings                                120,470      113,632
  Equity Adjustment From Foreign Currency 
    Translation                                        (59)          74
  Less Cost of 4,613,186 Common
    Shares in Treasury (Note 2)                    (47,407)     (47,407)
                                                  --------     --------
      Total Shareholders' Equity                    88,474       80,058
                                                  --------     --------
                                                  $263,136     $260,978
                                                  ========     ========
<FN>
See accompanying notes to consolidated condensed financial statements.
</TABLE>


















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                                                              -5-
<TABLE>
                           MACDERMID, INCORPORATED
    CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS AND RETAINED EARNINGS
                              (Unaudited)
         (Amounts in Thousands Except Share and Per Share Amounts)
<CAPTION>
                                          Three Months Ended
                                               June 30,
                                          ------------------
                                         1997            1996
                                         ----            ----
<S>                                     <C>            <C>
Net Sales                               $ 74,720       $ 72,655   
Costs and Expenses
  Cost of Sales                           35,243         36,315
  Selling, Technical and    
    Administrative Expenses               25,833         25,817
  Interest Income                           (144)          (183)
  Interest Expense                         1,568          2,086
  Other Expense - Net                        312            404
                                        --------        -------
                                          62,812         64,439
                                        --------        -------
    Earnings Before Income Taxes          11,908          8,216
Income Taxes                               4,347          3,287
                                        --------        -------
    Net Earnings                           7,561          4,929
Preferred Dividends                         (309)          (459)
                                        --------        -------
    Net Earnings Available for 
      Common Shareholders                  7,252          4,470
Retained Earnings, Beginning of 
 Period                                  113,632         95,564
Cash Dividends Declared                     (414)          (414)
                                        --------        -------
Retained Earnings, End of Period        $120,470        $99,620
                                        ========        =======

Net Earnings Per Common Share - 
  Primary and Fully Diluted (Note 3,4)   $0.86           $0.51
                                         =====           =====
Cash Dividends Per Common Share          $0.05           $0.05
                                         =====           =====
Weighted Average Common Shares
  Outstanding :
   Primary                              8,433,026      8,788,134
                                        =========      =========
   Fully Diluted                        8,435,782      8,791,005
                                        =========      =========


<FN>
See accompanying notes to consolidated condensed financial statements.
</TABLE>






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                                                                 -6-
<TABLE>
                         MACDERMID, INCORPORATED
           CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                            (Unaudited)
                     (In Thousands of Dollars)


<CAPTION>
                                                Three Months Ended
                                                      June 30,
                                                --------------------
                                                  1997         1996
                                                  ----         ----
<S>                                             <C>          <C>
Net Cash Flows from Operating Activities        $ 7,664      $ 8,195

Cash Flows from Investing Activities:
  Capital Expenditures                             (959)      (1,592)
  Proceeds from Disposition of Fixed Assets         346           37
                                                 ------      -------
    Net Cash Flows Used in Investing Activities    (613)      (1,555)
                                                -------      -------
Cash Flows from Financing Activities:
  Short-Term (Repayments)/Borrowings             (3,497)       9,186
  Long-Term Borrowings                           31,120            -
  Long-Term Repayments                           (2,000)     (14,320)
  Preferred Stock Redemption                    (32,745)           - 
  Exercise of Stock Options                         482          543
  Purchase of Treasury Shares                         -       (5,190)
  Dividends Paid                                   (414)        (414)
                                                -------      -------  
    Net Cash Flows Used in Financing Activities  (7,054)     (10,195)

Effect of Exchange Rate Changes on Cash            (113)        (111)
    amd Cash Equivalents                        -------      -------

    Net Decrease in Cash and Cash Equivalents      (116)      (3,666)
Cash and Cash Equivalents at Beginning of Year    6,530        8,833
                                                -------      -------
    Cash and Cash Equivalents at End of Period  $ 6,414      $ 5,167
                                                =======      =======

Cash Paid for Interest                          $ 1,526      $ 1,968
                                                =======      =======

Cash Paid for Income Taxes                      $ 3,210      $ 2,611
                                                =======      =======
<FN>
See accompanying notes to consolidated condensed financial statements.
</FN>
</TABLE>






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                                                                -7-

                                MACDERMID, INCORPORATED
                NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

Note 1.   Summary of Significant Accounting Policies
          The March 31, 1997 condensed consolidated balance sheet amounts 
          have been derived from the previously audited consolidated balance 
          sheets of MacDermid, Incorporated.  The balance of the condensed 
          financial information reflects all adjustments which are, in the 
          opinion of management, necessary for a fair presentation of the 
          financial position, results of operations and cash flows for the 
          interim periods presented and are of a normal recurring nature 
          unless otherwise disclosed in this report.  The results of 
          operations for the three month periods ended June 30, 1997 and 
          1996 are not necessarily indicative of trends or of the results 
          to be expected for the full year.  The statements should be read 
          in conjunction with the notes to the consolidated financial 
          statements included in MacDermid's 1997 Annual Report.

Note 2.   Stock Repurchase Authorization
          The Board of Directors on August 28, 1996 authorized the 
          Corporation to purchase up to 100,000 shares of its common stock.  
          At June 30, 1997, there remained authorization to purchase 
          approximately 93,000 shares which may be acquired through 
          privately negotiated transactions or on the open market from time 
          to time.  Any future repurchases by MacDermid will depend on 
          various factors, including the market price of the shares, the  
          Corporation's business and financial position and general economic 
          and market conditions.  Additional shares acquired pursuant to such
          authorization will be held in the Corporation's treasury and will be 
          available for the Corporation to issue for various corporate
          purposes without further shareholder action (except as required by
          applicable law or the rules of any securities exchange on which the
          shares are then listed).

Note 3.   Common Stock Split
          On October 21, 1996 the Board of Directors authorized a three-for-
          one stock split that was distributed on November 15, 1996 
          to common shareholders of record at the close of business on
          November 1, 1996.  In the financial statements of this report all
          per share amounts, dividends per common share and number of common
          shares have been restated to give retroactive effect to the stock
          split reflecting the increased number of common shares outstanding. 

Note 4.   Earnings Per Common Share
          The computation of primary earnings per common share is based upon 
          the weighted average number of outstanding common shares plus 
          (in periods in which they have a dilutive effect) the effect of 
          common shares contingently issuable from stock options.  The fully 
          diluted per common share computations may also reflect additional 
          dilution related to stock options due to the use of the market price 
          at the end of the period, when higher than the average price for the 
          period.  Earnings per common share are calculated based upon net 
          earnings available for common shareholders after deduction for 
          preferred dividends.




<PAGE>

                                                           -8-

ITEM 2:

                    MANAGEMENT'S DISCUSSION AND ANALYSIS OF 
                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion compares the results of operations for the three
month period which ended June 30, 1997 to the same period in 1996 
and provides information with respect to changes in financial condition
during the three months then ended.

SALES

Total sales for the current quarter increased 3% from the same period last 
year.  Foreign currency translation had a negative effect on the reported
sales increase, which would have been 5% without any exchange rate influence.
Sales increased as proprietary business improved in all geographic regions,
while equipment business was soft in the current quarter.  Net proprietary
chemical sales for the current quarter reached a record $66.6 million, an
increase of 6% from the same period last year. 

COSTS AND EXPENSES

Gross profits are up 9%, arising from business growth and enhanced 
margins realized from plant overhead savings.  Ongoing costs awareness 
programs and previous acquisitions have continued to strengthen margins which 
increased as a percentage of sales for each of the last three quarters.

Selling, technical and administrative expenses were unchanged in total.  Costs 
to support growing markets overseas were neutralized by foreign currency 
translations, while additional selling costs in domestic markets were offset 
by cost savings realized by shared administrative functions.  Operating 
profits for the three month period increased 27% over the same period last 
year, due to proprietary sales growth which did not require a proportionate 
increase in support costs and further benefiting from the enhanced margins 
mentioned above.

PROVISION FOR INCOME TAXES

Changes in taxable earnings among operating units which are taxable at 
differing rates has not recently had a noticeable effect upon overall tax 
rates.  However ongoing tax minimization strategies has brought the effective
income tax rate to approximately 36.5% for the quarter ended June 30, 1997,
down from 40% for the same period in 1996.

NET EARNINGS

Net earnings available to common shareholders for the three month period 
ending June 30, 1997 increased 62% over the same period last year.  The 
improved operating profit, as discussed above, enhanced by lower interest
expense due to accelerated debt reduction, led to these results.





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                                                              -9-
FINANCIAL CONDITION

Operating activities during the three months ending June 30, 1997 resulted in 
a net cash inflow of $7.7 million.  The cash generated was primarily used for 
a net $7.1 million reduction of debt.  The balance of cash generated from 
operations, together with a portion of cash already on hand, was used for 
dividends to common shareholders and capital improvements.  Working Capital at
June 30, 1997 was $52.4 million as compared to $46.9 million at March 31, 
1997.

Capital expenditures were $1.0 million for the three months ended June 30, 
1997 and are in line with total planned expenditures of about $7.6 million for 
the fiscal year.

MacDermid has a long-term credit arrangement which consists of a seven-year 
term loan which has a balance of $75.9 million outstanding at June 30, 1997, a 
five-year revolving credit facility which permits borrowings of up to $65
million, of which $35.2 million is outstanding at June 30, 1997, and an 
additional $100 million acquisition credit facility.  The outstanding balance 
on the five year revolving credit facility increased a net $28 million during 
the quarter due to borrowings made to effect the redemption, ahead of 
schedule, of all of the shares of preferred stock issued as part payment for a 
1995 acquisition.  MacDermid's other credit facilities, which presently total 
approximately $33 million, and the $65 million revolving credit 
facility and the Corporation's cash flows from operations, are adequate to 
fund working capital and expected capital expenditures.

Outlook:  Issues and Risks

This report and other Corporation reports and statements describe many of the 
positive factors affecting the Corporation's future business prospects.  
Investors should also be aware of factors which could have a negative impact 
on those prospects.  These include political, economic or other conditions 
such as currency exchange rates, inflation rates, recessionary or expansive 
trends, taxes and regulations and laws affecting the business; competitive 
products, advertising, promotional and pricing activity; the degree of 
acceptance of new product introductions in the marketplace; and the difficulty 
of forecasting sales at certain times in certain markets.

PART II.  OTHER INFORMATION

ITEM 2 : Changes in the Rights of Security Holders

None.

ITEM 5 : Other Information

None.

ITEM 6 : Exhibits and Reports on Form 8-K

None.




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                                                         -10-




                             SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.


                                        MacDermid, Incorporated
                                             (Registrant)



Date:  August 12, 1997                    Daniel H. Leever
                                          Daniel H. Leever
                                          Chief Executive Officer
                                      



Date: August 12, 1997                     Arthur J. LoVetere, Jr.
                                          Arthur J. LoVetere, Jr.
                                          Executive Vice President
                                    



Date: August 12, 1997                     Gregory M. Bolingbroke
                                          Gregory M. Bolingbroke
                                          Corporate Controller