---
title: "Divyadhan Recycling Industries Ltd (DIVYADHAN) — Share Price, Financials & Analysis"
symbol: "DIVYADHAN"
company: "Divyadhan Recycling Industries Ltd"
canonical: "https://tapetide.com/stocks/DIVYADHAN"
isin: "INE0QYI01019"
nse_symbol: "DIVYADHAN"
sector: "Textiles"
industry: "Textile Processing"
market_cap_cr: 66.88
generated_at: "2026-09-13T19:54:31.041Z"
---

# Divyadhan Recycling Industries Ltd (DIVYADHAN)

Canonical page: https://tapetide.com/stocks/DIVYADHAN

## Company

- **NSE Symbol:** DIVYADHAN
- **ISIN:** INE0QYI01019
- **Sector:** Textiles
- **Industry:** Textile Processing
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2024-10-04
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** divyadhan.in

## About

Incorporated in 2010, Divyadhan Recycling Industries Ltd is a manufacturer of recycled polyester products like Fiber, chips and flakes.[1]

## Latest Price

- **Price:** ₹46.75
- **Change:** -2.15 (-4.4%)
- **Open:** ₹48.9
- **Day High:** ₹48.9
- **Day Low:** ₹46.75
- **Previous Close:** ₹48.9
- **Volume:** 12000
- **As Of:** 2026-09-09T09:58:01+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:36.166655Z.

- **Market Cap:** ₹66.88 Cr
- **Classification:** SME
- **P/E (reported):** 39.3
- **Book Value:** ₹26.78
- **Price to Book:** 1.75
- **Dividend Yield:** 0%
- **ROE:** 4.4%
- **ROCE:** 6.9%
- **Debt to Equity:** 0.36
- **Revenue (yearly):** ₹79.41 Cr
- **Net Income:** ₹2.3 Cr
- **EBITDA:** ₹4.79 Cr
- **52-Week High:** ₹58.1
- **52-Week Low:** ₹18.25
- **RSI (14):** 45.99

## Tapetide Score

- **Score:** 59 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 84.7 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 41.31 | 9% |
| growth | 82.41 | 9% |
| momentum | 97.57 | 12% |
| ownership | 73.68 | 24% |
| quality | 75.54 | 22% |
| valuation | 34.21 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.89% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -494.65% | -366.97% | -388.51% |
| ebitda margin growth | -3.05% | -35.65% | 24.59% |
| net income growth | 53.33% | -7% | 49% |
| revenue growth | 32.13% | 11% | 14% |
| roce | -81.14% | -77.86% | 19.41% |
| roe | -81.73% | 17.94% | 12.24% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 27.63 | 28.5 | 31.42 | 28.06 | 36.13 | 43.28 |
| Expenses | 25.58 | 28.01 | 28.81 | 27.57 | 34.71 | 39.9 |
| Operating Profit | 2.05 | 0.49 | 2.61 | 0.49 | 1.42 | 3.38 |
| OPM % | 7.42 | 1.72 | 8.31 | 1.75 | 3.93 | 7.81 |
| Other Income | 1.97 | 1.04 | 0.61 | 0.03 | 0 | 0.04 |
| Interest | 0.34 | 0.31 | 0.27 | 0.03 | 0.26 | 0.54 |
| Depreciation | 0.28 | 0.29 | 0.98 | 0.3 | 0.96 | 0.73 |
| Profit before tax | 3.4 | 0.93 | 1.97 | 0.19 | 0.2 | 2.15 |
| Tax % | 18.53 | 36.56 | 27.92 | 36.84 | 125 | 18.6 |
| Net Profit | 2.77 | 0.59 | 1.42 | 0.12 | -0.05 | 1.75 |
| EPS in Rs | 5.64 | 1.12 | 1.35 | 0.08 | -0.03 | 1.22 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 41.39 | 57.78 | 57.34 | 56.13 | 59.47 | 79.41 |
| Expenses | 41.79 | 56.88 | 53.09 | 53.57 | 56.33 | 74.61 |
| Operating Profit | -0.4 | 0.9 | 4.25 | 2.56 | 3.14 | 4.8 |
| OPM % | -0.97 | 1.56 | 7.41 | 4.56 | 5.28 | 6.04 |
| Other Income | 2.94 | 2.04 | 0.82 | 3 | 0.64 | 0.04 |
| Interest | 0.91 | 0.8 | 0.57 | 0.66 | 0.34 | 0.8 |
| Depreciation | 1.32 | 1.42 | 1.5 | 0.57 | 1.28 | 1.68 |
| Profit before tax | 0.31 | 0.72 | 3 | 4.33 | 2.16 | 2.36 |
| Tax % | 29.03 | 26.39 | 28 | 29.1 | 29.17 | 27.54 |
| Net Profit | 0.23 | 0.53 | 2.16 | 3.07 | 1.54 | 1.71 |
| EPS in Rs | 0.47 | 1.08 | 4.4 | 5.83 | 1.08 | 1.2 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.91 | 4.91 | 4.91 | 5.27 | 14.31 | 14.31 |
| Reserves | 0.84 | 1.37 | 3.53 | 7.47 | 20.64 | 24 |
| Borrowings | 10.42 | 8.09 | 5.55 | 6.07 | 1.36 | 13.84 |
| Other Liabilities | 4.65 | 3.31 | 5.4 | 5.31 | 5.71 | 11.58 |
| Total Liabilities | 20.82 | 17.68 | 19.39 | 24.12 | 42.02 | 63.73 |
| Fixed Assets | 12.7 | 12.03 | 11.86 | 12.3 | 21.17 | 42.66 |
| CWIP | 0.02 | 0.02 | 0.02 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 8.1 | 5.63 | 7.51 | 11.82 | 20.85 | 21.07 |
| Total Assets | 20.82 | 17.68 | 19.39 | 24.12 | 42.02 | 63.73 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 4.09 | 3.84 | 4.42 | 2.99 | -11.8 | 19.4 |
| Cash from Investing Activity | -0.91 | -0.74 | -1.32 | -2.18 | -10.13 | -21.49 |
| Cash from Financing Activity | -3.19 | -3.09 | -3.11 | 1.18 | 19.94 | 2.08 |
| Net Cash Flow | -0.01 | 0 | -0.01 | 2 | -1.98 | -0.01 |
| Free Cash Flow | 3.18 | 3.09 | 3.09 | 0.81 | -21.95 | -2.11 |
| CFO/OP | -1030 | 447 | 124 | 157 | -363 | 406 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 17.64 | 12.51 | 12.48 | 22.11 | 27.99 | 13.61 |
| Inventory Days | 53.37 | 15.43 | 37.89 | 36.16 | 95.54 | 68.28 |
| Days Payable | 31.03 | 16.16 | 26.56 | 25.47 | 31.46 | 44.55 |
| Cash Conversion Cycle | 39.98 | 11.78 | 23.8 | 32.81 | 92.08 | 37.34 |
| Working Capital Days | 0.18 | -4.17 | -2.86 | -4.68 | 88.5 | -0.83 |
| ROCE % | — | 9.95 | 25.18 | 30.43 | 9.07 | 7.14 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 94.07% | 69.67% | 69.91% | 69.94% |
| FIIs | 0% | 3.56% | 2.94% | 2.87% |
| DIIs | 0% | 0% | 0% | 0.43% |
| Government | 0% | 0% | 0% | 0% |
| Public | 2.89% | 11.07% | 10.84% | 10.27% |
| Others | 3.05% | 15.7% | 16.31% | 16.49% |
| No. of Shareholders | 22 | 366 | 355 | 358 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 6 / 6

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 45.18 | Buy |
| EMA (10) | 46.6 | Buy |
| SMA (20) | 49.09 | Sell |
| EMA (20) | 47.96 | Sell |
| SMA (50) | 49.46 | Sell |
| EMA (50) | 46.87 | Sell |
| SMA (100) | 39.18 | Buy |
| EMA (100) | 42.47 | Buy |
| SMA (200) | 34.83 | Buy |
| EMA (200) | 40.63 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.99 | Neutral |
| MACD (12,26,9) | -1.37 | Sell |
| Stochastic (14,3,3) | 51.96 | Neutral |
| ADX (14) | 30.01 | Buy |
| Williams %R (14) | -50.18 | Neutral |
| ATR (14) | 1.65 | High Volatility |
| ROC (12) | -11.21 | Sell |
| Stoch RSI (14) | 65.44 | Neutral |
| UO (7,14,28) | 51.45 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Sep - Registered office shifted from Maharashtra to Uttar Pradesh; ROC approved on 08 September 2026. | [Address Change 8 Sep - Registered office shifted from Maharashtra to Uttar Pradesh; ROC approved on 08 September 2026.](https://nsearchives.nseindia.com/corporate/DRIL_08092026174732_Shifting_of_RO_sd.pdf) |
| 8 April 2026 - Secretarial auditor M/s Ainesh Jethwa & Associates resigned effective 8 April 2026. | [Change in Auditors 8 April 2026 - Secretarial auditor M/s Ainesh Jethwa & Associates resigned effective 8 April 2026.](https://nsearchives.nseindia.com/corporate/DRIL_08042026173041_Resignation_of_Secretarial_Auditor.pdf) |
| 6 July 2026 - Board approved allotment of 36.8 lakh preferential warrants on 6 July 2026. | [Outcome of Board Meeting 6 July 2026 - Board approved allotment of 36.8 lakh preferential warrants on 6 July 2026.](https://nsearchives.nseindia.com/corporate/DRIL_06072026100834_Outcome_BM4_Divyadhan_sd.pdf) |
| 5 Sep - Published 16th AGM and e-voting notice; registered office shifting from Maharashtra to Noida, Uttar Pradesh. | [Copy of Newspaper Publication 5 Sep - Published 16th AGM and e-voting notice; registered office shifting from Maharashtra to Noida, Uttar Pradesh.](https://nsearchives.nseindia.com/corporate/DRIL_05092026124415_Newspaper_advertisement.pdf) |
| 4 Sep - 16th AGM on 28 September 2026 via VC/OAVM; FY26 annual report circulated. | [Shareholders meeting 4 Sep - 16th AGM on 28 September 2026 via VC/OAVM; FY26 annual report circulated.](https://nsearchives.nseindia.com/corporate/DRIL_04092026161831_DRIL.pdf) |
| 4 July 2026 - Trading window re-opened from 2 July 2026 after board approved borrowing/financing arrangement on 29 June 2026. | [Trading Window 4 July 2026 - Trading window re-opened from 2 July 2026 after board approved borrowing/financing arrangement on 29 June 2026.](https://nsearchives.nseindia.com/corporate/DRIL_04072026160524_NSE__opening_of_window_sd.pdf) |
| 4 April 2026 - Promoters disclosed no new encumbrance; Pratik Gupta and Varun Gupta each have 14.32 lakh pledged shares. | [Updates 4 April 2026 - Promoters disclosed no new encumbrance; Pratik Gupta and Varun Gupta each have 14.32 lakh pledged shares.](https://nsearchives.nseindia.com/corporate/DRIL_04042026105830_Covering_Letter_and_declaration.pdf) |
| 30 May 2026 - Trading window re-opens on 1 June 2026 after FY26 audited results. | [Trading Window 30 May 2026 - Trading window re-opens on 1 June 2026 after FY26 audited results.](https://nsearchives.nseindia.com/corporate/DRIL_30052026130532_NSE_letter_sd__3_.pdf) |
| 30 January 2026 - Pramod Kumar Gupta resigned as Whole-time Company Secretary/Compliance Officer, effective close of business 30 January 2026. | [Resignation 30 January 2026 - Pramod Kumar Gupta resigned as Whole-time Company Secretary/Compliance Officer, effective close of business 30 January 2026.](https://nsearchives.nseindia.com/corporate/DRIL_30012026140251_Resignation_of_CS_300126.pdf) |
| 3 April 2026 - Statutory auditor Amarnath Sharma & Co. resigned effective 3 April 2026 due to other pre-occupation. | [Change in Auditors 3 April 2026 - Statutory auditor Amarnath Sharma & Co. resigned effective 3 April 2026 due to other pre-occupation.](https://nsearchives.nseindia.com/corporate/DRIL_03042026155935_Change_in_auditor.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28451_DIVYADHAN_2024_2025_A_12147154_04092025182537.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:54:31.041Z.