Delta Autocorp Ltd
Incorporated in 2016, Delta Autocorp Limited is engaged in the business of manufacturing and selling 2-wheelers & 3-wheelers EVs.[1]
- Market Cap ₹ 81.6 Cr.
- Current Price ₹ 53.4
- High / Low ₹ 184 / 43.0
- Stock P/E 8.74
- Book Value ₹ 50.1
- Dividend Yield 0.00 %
- ROCE 23.4 %
- ROE 18.5 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 1.07 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 44.9 to 73.4 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Automobile and Auto Components Automobiles 2/3 Wheelers
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|
| 62.83 | 82.63 | 94.47 | |
| 53.63 | 71.64 | 84.01 | |
| Operating Profit | 9.20 | 10.99 | 10.46 |
| OPM % | 14.64% | 13.30% | 11.07% |
| 0.27 | 0.82 | 2.10 | |
| Interest | 0.01 | 0.21 | 0.11 |
| Depreciation | 0.28 | 0.29 | 0.30 |
| Profit before tax | 9.18 | 11.31 | 12.15 |
| Tax % | 25.38% | 25.82% | |
| 6.84 | 8.40 | 9.34 | |
| EPS in Rs | 221.93 | 5.49 | 6.11 |
| Dividend Payout % | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
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| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
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| Return on Equity | |
|---|---|
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| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|
| Equity Capital | 0.31 | 15.29 | 15.29 |
| Reserves | 17.47 | 57.77 | 61.25 |
| 3.87 | 3.87 | 3.87 | |
| 11.35 | 7.97 | 7.18 | |
| Total Liabilities | 33.00 | 84.90 | 87.59 |
| 0.90 | 0.97 | 4.61 | |
| CWIP | 1.03 | 2.91 | 0.00 |
| Investments | 0.00 | 0.00 | 0.01 |
| 31.07 | 81.02 | 82.97 | |
| Total Assets | 33.00 | 84.90 | 87.59 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | |
|---|---|---|
| -14.40 | -12.68 | |
| 0.46 | -2.07 | |
| 14.79 | 46.67 | |
| Net Cash Flow | 0.86 | 31.93 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 16.38 | 73.37 |
| Inventory Days | 138.07 | 108.21 |
| Days Payable | 57.07 | 22.88 |
| Cash Conversion Cycle | 97.39 | 158.71 |
| Working Capital Days | 101.72 | 170.86 |
| ROCE % | 23.37% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
25 November 2025 - H1 FY26 transcript: Total revenue INR42,12,72,000; net profit INR3,45,87,000; 5,035 units; product approvals; show-cause notice.
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Updates
21 November 2025 - Reg 27(2) corporate governance report not applicable for quarter ended Sep 30, 2025 due to SME listing.
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Analysts/Institutional Investor Meet/Con. Call Updates
21 November 2025 - Audio recording of Nov 21, 2025 earnings call on H1 (Sept 30, 2025) results posted.
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Action(s) taken or orders passed
20 November 2025 - Customs proceedings (Show Cause dated 04.11.2024) dropped; order received 02/05/2025; no financial impact.
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Action(s) initiated or orders passed
20 November 2025 - Customs SCN (dated 08-09-2025) seeks ~INR 76.9 lakh duty plus interest for Apr 2021–Dec 2022 imports.
Annual reports
Concalls
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Nov 2025TranscriptPPT
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Jun 2025Transcript PPT
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May 2025TranscriptNotesPPT
Business Model[1]
Delta Autocorp manufactures and sells electric two-wheelers (2W) and three-wheelers (3W) under the "Deltic" brand, focusing on affordable and durable EVs for tier-2 and tier-3 towns. The company is transitioning to Lithium Ferro Phosphate (LFP) batteries to enhance cost efficiency and safety.