Dharni Capital Services
Dharni Capital Services
Capital MarketsKey Fundamentals
SMEWealthCapital MarketsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company's working capital requirements have reduced from 89.6 days to 17.5 days
Weaknesses
1- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
Quarterly Results
| Particulars | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2.97 | 1.73 | 4.79 | 3.41 | 2.92 | 3.6 | 4.46 | 5.1 |
| Expenses | 2.25 | 1.11 | 3.15 | 2.15 | 1.8 | 2.13 | 3.12 | 3.22 |
| Operating Profit | 0.72 | 0.62 | 1.64 | 1.26 | 1.12 | 1.47 | 1.34 | 1.88 |
| OPM % | 24.24% | 35.84% | 34.24% | 36.95% | 38.36% | 40.83% | 30.04% | 36.86% |
| Other Income | 0.08 | 0.22 | 0.41 | 0.97 | 1.41 | 1.21 | 1.64 | 1.33 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0.03 | 0.03 | 0.04 |
| Depreciation | 0.02 | 0.03 | 0.05 | 0.09 | 0.07 | 0.08 | 0.06 | 0.22 |
| PBT | 0.78 | 0.81 | 2 | 2.14 | 2.46 | 2.57 | 2.89 | 2.95 |
| Tax % | 25.64% | 27.16% | 24% | 26.17% | 24.39% | 25.29% | 25.26% | 24.75% |
| Net Profit | 0.59 | 0.6 | 1.52 | 1.58 | 1.85 | 2 | 2.31 | 2.35 |
| EPS in Rs | 0.39 | 0.29 | 0.75 | 0.78 | 0.91 | 0.98 | 1.13 | 1.15 |
Profit & Loss
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 4.98 | 9.56 | 9.09 | 12.53 |
| Expenses | 3.36 | 5.26 | 3.9 | 6.31 |
| Operating Profit | 1.62 | 4.3 | 5.19 | 6.22 |
| OPM % | 32.53% | 44.98% | 57.1% | 49.64% |
| Other Income | 0.02 | 0.01 | 0.05 | 0 |
| Interest | 0 | 0 | 0.03 | 0.07 |
| Depreciation | 0.05 | 0.17 | 0.18 | 0.3 |
| PBT | 1.59 | 4.14 | 5.03 | 5.85 |
| Tax % | 25.16% | 24.88% | 25.05% | 24.96% |
| Net Profit | 1.19 | 3.11 | 3.85 | 4.67 |
| EPS in Rs | 0.58 | 1.53 | 1.89 | 2.29 |
| Div. Payout % | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 2.04 | 2.04 | 2.04 | 2.04 |
| Reserves | 12.16 | 15.27 | 19.12 | 23.79 |
| Borrowings | 0 | 0 | 2.08 | 3.81 |
| Other Liabilities | 0.11 | 1.87 | 0.57 | 1.09 |
| Total Liabilities | 14.31 | 19.18 | 23.81 | 30.73 |
| Fixed Assets | 0.75 | 6.95 | 12.27 | 10.72 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 1.85 | 2.59 | 7.38 | 11.21 |
| Other Assets | 11.71 | 9.64 | 4.16 | 8.8 |
| Total Assets | 14.31 | 19.18 | 23.81 | 30.73 |
Cash Flow
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Operating | 1.11 | 3.5 | 0.3 | -1.22 |
| Investing | -1.42 | -9.97 | -6.74 | 3.02 |
| Financing | 10.74 | 0 | 1.67 | -1.77 |
| Net Cash Flow | 10.43 | -6.47 | -4.78 | 0.04 |
| Free Cash Flow | 0.43 | -2.84 | -5.16 | 0.05 |
| CFO/OP | 69 | 81 | 6 | -20 |
Ratios
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Debtor Days | 0.73 | 4.58 | 10.44 | 13.98 |
| Cash Conversion Cycle | 0.73 | 4.58 | 10.44 | 13.98 |
| Working Capital Days | 21.99 | 112 | 139 | 17.48 |
| ROCE % | — | 26.28% | 24.96% | 22.39% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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48 extracted metrics + investor summaries across FY22–FY26.
Documents
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Company Information
Incorporated in 2015, Dharni Capital Services Ltd provides diversified financial services[1]
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