---
title: "Dollex Agrotech Ltd (DOLLEX) — Share Price, Financials & Analysis"
symbol: "DOLLEX"
company: "Dollex Agrotech Ltd"
canonical: "https://tapetide.com/stocks/DOLLEX"
isin: "INE0JHH01011"
nse_symbol: "DOLLEX"
bse_code: "544908"
sector: "Consumer Goods"
industry: "Sugar"
market_cap_cr: 153.2
generated_at: "2026-09-13T18:47:33.398Z"
---

# Dollex Agrotech Ltd (DOLLEX)

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

## Company

- **NSE Symbol:** DOLLEX
- **BSE Code:** 544908
- **ISIN:** INE0JHH01011
- **Sector:** Consumer Goods
- **Industry:** Sugar
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Listed Since:** 2022-12-28
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** dollex.in

## About

Incorporated in 2013, Dollex Agrotech Ltd is in the business of manufacturing and trading of sugar[1]

## Latest Price

- **Price:** ₹38.45
- **Change:** -0.6 (-1.54%)
- **Open:** ₹35
- **Day High:** ₹38.95
- **Day Low:** ₹35
- **Previous Close:** ₹39.05
- **Volume:** 215183
- **As Of:** 2026-09-11T09:59:50+00:00

## Key Fundamentals

Observed at 2026-09-11T04:31:44.927703Z.

- **Market Cap:** ₹153.2 Cr
- **Classification:** Microcap
- **P/E (reported):** 19.6
- **P/E (TTM):** 19.32
- **EPS (TTM):** ₹1.99
- **EPS (reported):** ₹2.81
- **Book Value:** ₹31.03
- **Price to Book:** 1.26
- **Dividend Yield:** 0%
- **ROE:** 12.52%
- **ROCE:** 6.52%
- **Debt to Equity:** 1.27
- **Revenue (yearly):** ₹225.16 Cr
- **Net Income:** ₹7.96 Cr
- **EBITDA:** ₹17.04 Cr
- **52-Week High:** ₹43.55
- **52-Week Low:** ₹26
- **RSI (14):** 74.59

## Tapetide Score

- **Score:** 43 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 22.3 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 33.04 | 9% |
| growth | 32.87 | 9% |
| momentum | 81.15 | 12% |
| ownership | 50 | 24% |
| quality | 37.23 | 22% |
| valuation | 35.98 | 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 11.2% over last 3 years.
- Company might be capitalizing the interest cost
- Promoters have pledged 88.4% of their holding.
- Company has high debtors of 186 days.
- Promoter holding has decreased over last 3 years: -17.5%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 42.24% | -24.89% | — |
| ebitda margin growth | -56.41% | 9.72% | -27.52% | -33.16% |
| net income growth | -71.74% | -4.1% | 11% | 41% |
| revenue growth | -63.17% | -5.2% | 27% | 24% |
| roce | — | -11.89% | -46.34% | 8.48% |
| roe | — | 3.22% | 12.29% | 73.65% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2022 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 8.39 | 37.74 | 43.03 | 37.99 | 118.67 | 36.21 | 53.12 | 27.23 | 108.59 | 39.95 |
| Expenses | 5.09 | 29.74 | 42.48 | 34.61 | 115.88 | 32.68 | 51.01 | 23.64 | 100.77 | 36.54 |
| Operating Profit | 3.3 | 8 | 0.55 | 3.38 | 2.79 | 3.53 | 2.11 | 3.59 | 7.82 | 3.41 |
| OPM % | 39.33 | 21.2 | 1.28 | 8.9 | 2.35 | 9.75 | 3.97 | 13.18 | 7.2 | 8.54 |
| Other Income | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.23 | 0 | 0.03 | 0 |
| Interest | 0.61 | 0.84 | 0.68 | 0.65 | 1.18 | 0.83 | 0.94 | 1.08 | 0.85 | 0.86 |
| Depreciation | 0.57 | 0.62 | 0.62 | 0.64 | 0.63 | 0.71 | 0.78 | 0.77 | 0.74 | 0.78 |
| Profit before tax | 2.14 | 6.55 | -0.74 | 2.1 | 0.99 | 2 | 0.62 | 1.74 | 6.26 | 1.77 |
| Tax % | 29.44 | 24.43 | -18.92 | -3.81 | 82.83 | 12.5 | 41.94 | 4.6 | 25.88 | 28.25 |
| Net Profit | 1.51 | 4.95 | -0.6 | 2.18 | 0.17 | 1.75 | 0.36 | 1.67 | 4.64 | 1.28 |
| EPS in Rs | 0.47 | 1.24 | -0.15 | 0.55 | 0.04 | 0.44 | 0.09 | 0.42 | 1.16 | 0.32 |

### Profit & Loss

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 18 | 25 | 77 | 79 | 110 | 135 | 237 | 225 | 229 |
| Expenses | 17 | 21 | 70 | 71 | 98 | 122 | 221 | 208 | 212 |
| Operating Profit | 2 | 4 | 7 | 9 | 13 | 14 | 16 | 17 | 17 |
| OPM % | 9 | 18 | 9 | 11 | 12 | 10 | 7 | 8 | 7 |
| Other Income | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 |
| Depreciation | 0 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 1 | 1 | 3 | 4 | 8 | 8 | 10 | 11 | 10 |
| Tax % | 46 | 55 | 36 | 23 | 23 | 14 | 21 | 21 | — |
| Net Profit | 1 | 1 | 2 | 3 | 6 | 7 | 8 | 8 | 8 |
| EPS in Rs | 0.84 | 0.36 | 0.52 | 1.02 | 1.53 | 1.76 | 2.08 | 2.11 | 1.99 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 10 | 20 | 20 | 25 | 25 | 25 | 40 |
| Reserves | 1 | 2 | 3 | 6 | 25 | 33 | 41 | 84 |
| Borrowings | 9 | 52 | 50 | 45 | 43 | 105 | 172 | 157 |
| Other Liabilities | 56 | 25 | 32 | 42 | 75 | 107 | 45 | 133 |
| Total Liabilities | 71 | 89 | 105 | 114 | 168 | 271 | 283 | 414 |
| Fixed Assets | 28 | 46 | 44 | 39 | 35 | 32 | 29 | 27 |
| CWIP | 11 | 0 | 1 | 1 | 1 | 8 | 55 | 86 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 32 | 43 | 60 | 73 | 133 | 231 | 199 | 302 |
| Total Assets | 71 | 89 | 105 | 114 | 168 | 271 | 283 | 414 |

### Cash Flow

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | -9 | 0 | 10 | -20 | -43 | -25 | -7 |
| Cash from Investing Activity | — | -8 | -2 | 3 | 3 | -7 | -47 | -31 |
| Cash from Financing Activity | — | 15 | 6 | -10 | 13 | 59 | 63 | 39 |
| Net Cash Flow | — | -2 | 4 | 3 | -5 | 9 | -9 | 1 |
| Free Cash Flow | — | -18 | -2 | 10 | -23 | -54 | -76 | -38 |
| CFO/OP | — | -202 | 4 | 118 | -141 | -301 | -138 | -24 |

### Ratios

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 16 | 23 | 94 | 63 | 37 | 21 | 186 |
| Inventory Days | — | — | 641 | 649 | — | 532 | 260 | 185 |
| Days Payable | — | — | 436 | 557 | — | 333 | 67 | 213 |
| Cash Conversion Cycle | 0 | 16 | 227 | 186 | 63 | 235 | 214 | 159 |
| Working Capital Days | -32 | 180 | 99 | 93 | 137 | 165 | 144 | 167 |
| ROCE % | — | 8 | 7 | 10 | 13 | 9 | 7 | 6 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2022 | Dec 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 99.5% | 99.5% | 71.69% | 71.69% | 71.69% | 71.69% | 71.69% | 54.2% | 54.2% | 54.2% | 54.2% | 54.2% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0.5% | 0.5% | 23.63% | 23.93% | 23.89% | 23.73% | 23.63% | 37.41% | 37.12% | 36.64% | 36.72% | 36.89% |
| Others | 0% | 0% | 4.68% | 4.37% | 4.42% | 4.58% | 4.68% | 8.39% | 8.68% | 9.16% | 9.08% | 8.91% |
| No. of Shareholders | 8 | 8 | 880 | 657 | 668 | 677 | 707 | 1035 | 1015 | 967 | 953 | 951 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 5 / 1

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 37.17 | Buy |
| EMA (10) | 37.22 | Buy |
| SMA (20) | 35.2 | Buy |
| EMA (20) | 35.67 | Buy |
| SMA (50) | 32.24 | Buy |
| EMA (50) | 33.51 | Buy |
| SMA (100) | 31.56 | Buy |
| EMA (100) | 33.1 | Buy |
| SMA (200) | 34.88 | Buy |
| EMA (200) | 34.07 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 66.72 | Neutral |
| MACD (12,26,9) | 1.86 | Buy |
| Stochastic (14,3,3) | 88.28 | Sell |
| ADX (14) | 36.04 | Buy |
| Williams %R (14) | -20.41 | Neutral |
| ATR (14) | 1.84 | High Volatility |
| ROC (12) | 15.64 | Buy |
| Stoch RSI (14) | 27.25 | Neutral |
| UO (7,14,28) | 62.13 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - NSE approved Dollex Agrotech’s mainboard listing; SME trading suspends September 11, 2026. | [General Updates 9 Sep - NSE approved Dollex Agrotech’s mainboard listing; SME trading suspends September 11, 2026.](https://nsearchives.nseindia.com/corporate/DOLLEX_09092026163743_CoverletterApprovalsigned.pdf) |
| 8 Aug - NSE grants in-principle approval for Dollex Agrotech’s migration from SME EMERGE to Main Board. | [General Updates 8 Aug - NSE grants in-principle approval for Dollex Agrotech’s migration from SME EMERGE to Main Board.](https://nsearchives.nseindia.com/corporate/DOLLEX_08082026193119_DOLLEX_LTC_07072026_215014_Signed__2_.pdf) |
| 7 July 2026 - Compliance certificate under Regulation 74(5) for quarter ended June 30, 2026 filed. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 July 2026 - Compliance certificate under Regulation 74(5) for quarter ended June 30, 2026 filed.](https://nsearchives.nseindia.com/corporate/DOLLEX_07072026172859_Regulation74_signed.pdf) |
| 7 April 2026 - Regulation 74(5) certificate filed; no dematerialization requests received in Q4 FY2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Regulation 74(5) certificate filed; no dematerialization requests received in Q4 FY2026.](https://nsearchives.nseindia.com/corporate/DOLLEX_07042026164014_CoverletterReg74_5__signed.pdf) |
| 5 May 2026 - Mehmood Khan has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. | [Disclosure under SEBI Takeover Regulations 5 May 2026 - Mehmood Khan has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.](https://nsearchives.nseindia.com/corporate/team_bbodade_15042026182700_DOLLEX.pdf) |
| 5 March 2026 - Board approved Q3/9M results, NSE mainboard migration, authorised capital raised to Rs60 crore; director appointed. | [Updates 5 March 2026 - Board approved Q3/9M results, NSE mainboard migration, authorised capital raised to Rs60 crore; director appointed.](https://nsearchives.nseindia.com/corporate/DOLLEX_05032026144458_OutcomeofBMfinal.pdf) |
| 4 May 2026 - Revised XBRL financial results for the quarter filed after discrepancy in submission. | [Reply to Clarification- Financial results 4 May 2026 - Revised XBRL financial results for the quarter filed after discrepancy in submission.](https://nsearchives.nseindia.com/corporate/DOLLEX_04052026134641_Finalreplysigned.pdf) |
| 4 Aug - Published newspaper clippings of unaudited standalone Q1 results ended June 30, 2026. | [Copy of Newspaper Publication 4 Aug - Published newspaper clippings of unaudited standalone Q1 results ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/DOLLEX_04082026135213_NSEannoucementnewspaperfinalsigned.pdf) |
| 4 Aug - AGM notice published on 4 Aug 2026; FY26 annual report dispatched and e-voting details shared. | [Copy of Newspaper Publication 4 Aug - AGM notice published on 4 Aug 2026; FY26 annual report dispatched and e-voting details shared.](https://nsearchives.nseindia.com/corporate/DOLLEX_04082026135707_AGMannoucementfinalsigned.pdf) |
| 30 May 2026 - Mr. Narendra Gupta appointed Additional Non-Executive Independent Director from 30 May 2026, subject to shareholder approval. | [Appointment 30 May 2026 - Mr. Narendra Gupta appointed Additional Non-Executive Independent Director from 30 May 2026, subject to shareholder approval.](https://nsearchives.nseindia.com/corporate/DOLLEX_30052026161549_Appointment_signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30147_DOLLEX_2025_2026_A_1959166_03082026164636.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28527_DOLLEX_2024_2025_A_2747447_05092025120331.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25510_DOLLEX_2023_2024_03092024121930.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23400_DOLLEX_2022_2023_04092023180613_09042023190023.zip) |

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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 2026-09-13T18:47:33.398Z.