Dharan Infra-epc Limited
NSE: DHARAN · Residential, Commercial Projects · sector
₹0.12NSE close 2026-10-26
Key numbers
Market cap₹31 cr
Price₹0.12
52w high / low₹1 / ₹0
P/E–Sector median 18.7x
P/B0.0xSector median 1.4x
Book value₹3.6
Dividend yield–Sector median 0.54%
ROE-3.8%Sector median 5.5%
ROCE-3.2%Sector median 6.5%
OPM-586.0%Sector median 12.1%
Debt / equity0.07xSector median 0.36x
EV/EBITDA–Sector median 17.7x
Interest cover-13.4x
Current ratio8.29x
Sales growth 3y-43.9%Sector median +16.6%
Profit growth 3y–Sector median +28.0%
PEG–
Last 12 months to Sep 2025, Consolidated. "Sector median" = middle value of 141 companies in Residential, Commercial Projects (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹716 cr vs borrowings ₹64 cr (FY25): cash is higher (net cash).
- Operating profit covered interest -13.4x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 4 years (FY23, FY22).
- Net loss in 8 of the last 8 quarters.
- Revenue was higher than a year earlier in 0 of the last 4 quarters.
- Debtor days went from 290 (FY23) to 1,644 (FY25).
- Dividend paid in 2 of the last 5 financial years.
- Price ₹0.12 on 2026-10-26: -78.6% from the 52-week high, +9.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2.47 · low ₹0.12
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 13 | 9 | 6 | 1 | 1 | 0 | 4 |
| EBITDA | -33 | -7 | -14 | -0 | -24 | -1 | -8 | -1 |
| OPM % | -263.2% | -54.3% | -147.7% | -3.7% | -2,214.7% | -107.3% | -7,709.1% | -42.6% |
| Other income | 11 | 3 | 1 | 2 | 1 | 1 | 1 | 0 |
| Net profit | -29 | -6 | -15 | -0 | -20 | -2 | -8 | -4 |
| EPS (₹) | -0.15 | -0.03 | -0.04 | -0.03 | -0.01 | -0.01 | 0.00 | -0.02 |
| Revenue YoY | -91.3% | -89.1% | -98.8% | -43.5% | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Sep 2025.
Profit & loss (yearly)
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY25 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 121 | 102 | 108 | 21 | 18 | 6 |
| EBITDA | 35 | 29 | -1 | -53 | -40 | -36 |
| Net profit | 20 | 17 | -2 | -37 | -38 | -35 |
| EPS (₹) | 1.64 | 1.40 | -0.10 | -0.17 | -0.06 | -0.04 |
| Revenue growth | -15.9% | +6.4% | -81.0% | -12.7% | -85.1% | |
| Profit growth | -14.9% | -109.2% | – | – | – | |
| Dividend / share (₹) | 0.05 | 0.05 | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -43.9% | – | -85.1% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | – (2y) | -71.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Shareholders' equity | – | 159 | 910 | 881 |
| Borrowings | – | 1,504 | 76 | 64 |
| Cash & equivalents | – | 24 | 713 | 716 |
| Total assets | – | 1,733 | 1,093 | 1,059 |
| Fixed assets | – | 1 | 1 | 1 |
| Capital work in progress | – | 0 | 0 | – |
| Investments | – | 1,262 | 0 | 0 |
| Receivables | – | 86 | 84 | 81 |
| Inventory | – | 129 | 145 | 155 |
| Payables | – | 3 | 5 | 7 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash from operations | -20 | -166 | 72 | 17 |
| Cash from investing | 37 | -1,254 | 664 | 10 |
| Cash from financing | -17 | 1,423 | -51 | -16 |
| Capex | 0 | 0 | 0 | 0 |
| Free cash flow | -20 | -166 | 72 | 17 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| ROE % | – | -1.0% | -4.0% | -4.3% |
| ROCE % | – | 0.6% | -2.6% | -3.7% |
| Debtor days | – | 290 | 1,487 | 1,644 |
| Inventory days | – | 567 | 4,109 | 4,939 |
| Payable days | – | 11 | 140 | 213 |
| Cash conversion cycle (days) | – | 846 | 5,456 | 6,370 |
| Working capital days | – | -1,188 | 16,562 | 18,877 |
Shareholding
| Holder | % (2025-09-30) |
|---|---|
| Promoters | 0.83% |
| FIIs | 0.75% |
| DIIs | 0.00% |
| Public (non-institutions) | 98.41% |
| Quarter | Mar 2024 | Jun 2024 | Sep 2024 | Oct 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 1.98% | 1.98% | 1.27% | 0.83% | 0.83% | 0.84% | 0.83% | 0.83% |
| Promoter group | % |
|---|---|
| Naresh Jagumal Karda | 0.77% |
| Neha Prem Karda | 0.03% |
| Komal Laxman Karda | 0.02% |
| Laxman Jagumal Karda | 0.01% |
| Karamchand Jagumal Karda | 0.01% |
| Manohar Jagumal Karda | 0.00% |
| Public holders above 1% | % |
|---|---|
| Wave Capital Ltd | 10.32% |
| Aio Growth Capital Fund Spc | 8.51% |
| Zeal Global Opportunities Fund | 7.11% |
| Nova Global Opportunities Fund Pcc - Touchstone | 5.38% |
| M7 Global Fund Pcc - Cell Dewcap Fund | 3.58% |
| Global Focus Fund | 2.84% |
3,37,515 shareholders. Pledged: – of promoter shares.
Peers in Residential, Commercial Projects
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| DLF | ₹1,63,939 cr | 35.9x | 3.6x | 10.3% | 6.3% | 14.8% | +12.9% | 0.90% |
| LODHA | ₹97,912 cr | 23.7x | 4.2x | 19.0% | 17.9% | 32.2% | +20.8% | 0.43% |
| PHOENIXLTD | ₹67,737 cr | 52.9x | 6.2x | 11.9% | 15.4% | 59.1% | +18.8% | 0.13% |
| PRESTIGE | ₹60,152 cr | 52.8x | 3.7x | 7.2% | 10.5% | 28.1% | +15.1% | 0.12% |
| OBEROIRLTY | ₹57,522 cr | 21.9x | 3.0x | 14.7% | 16.9% | 57.1% | +12.8% | 0.51% |
| GODREJPROP | ₹45,942 cr | 28.7x | 2.4x | 8.8% | 6.9% | -7.7% | +31.6% | – |
| BRIGADE | ₹17,781 cr | 25.6x | 2.6x | 11.2% | 10.9% | 27.0% | +18.3% | 0.35% |
| ANANTRAJ | ₹16,514 cr | 27.8x | 2.9x | 11.6% | 11.1% | 27.0% | +37.9% | 0.15% |
| SOBHA | ₹12,247 cr | 64.1x | 2.6x | 4.1% | 6.5% | 6.5% | +16.2% | 0.26% |
| DHARAN | ₹31 cr | – | 0.0x | -3.8% | -3.2% | -586.0% | -43.9% | – |
Business segments (FY25)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Real Estate | ₹18 cr | 85.9% | ₹2 cr | 9.5% |
| Investment (Subsidiary) | ₹3 cr | 14.1% | ₹1 cr | 37.2% |
| Civil Contracting Business | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-04-04 | Bonus | Bonus 1:1 |
| 2024-09-20 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-08-12 | Split | Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share |
| 2021-08-12 | Dividend | Dividend - Rs 0.05 Per Share |
| 2021-08-12 | Bonus | Bonus 4:1 |
| 2021-07-29 | Other | Annual General Meeting |
| 2021-02-24 | Dividend | Interim Dividend - Rs 0.05 Per Share |
| 2020-09-17 | Other | Annual General Meeting |
| 2020-07-02 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share |
| 2019-09-11 | Other | Annual General Meeting |
Documents
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY21
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | Residential, Commercial Projects |
| Sub-industry | Residential, Commercial Projects |
| Symbol | DHARAN |
| BSE code | 541161 |
| ISIN | INE278R01034 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.