Dharan Infra-EPC Ltd
Incorporated in 2007, Dharan Infra-EPC Ltd is in the business of real estate construction, development, civil contracts (EPC) and other related activities[1]
- Market Cap ₹ 225 Cr.
- Current Price ₹ 0.44
- High / Low ₹ 1.28 / 0.34
- Stock P/E
- Book Value ₹ 1.69
- Dividend Yield 0.00 %
- ROCE -3.60 %
- ROE -4.28 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Stock is trading at 0.26 times its book value
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 0.83%
- Company has a low return on equity of -3.33% over last 3 years.
- Contingent liabilities of Rs.99.1 Cr.
- Company has high debtors of 1,644 days.
- Promoter holding has decreased over last 3 years: -25.1%
- Working capital days have increased from 3,312 days to 5,115 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 Realty Realty Residential, Commercial Projects
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 129 | 102 | 91 | -27 | 18 | |
| 94 | 73 | 94 | 27 | 58 | |
| Operating Profit | 35 | 29 | -3 | -53 | -40 |
| OPM % | 27% | 28% | -4% | -259% | -220% |
| 8 | 10 | 12 | 28 | 5 | |
| Interest | 15 | 14 | 13 | 11 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 28 | 24 | -4 | -37 | -38 |
| Tax % | 27% | 28% | 1% | 0% | 0% |
| 20 | 17 | -4 | -37 | -38 | |
| EPS in Rs | 0.16 | 0.14 | -0.03 | -0.17 | -0.07 |
| Dividend Payout % | 3% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -44% |
| TTM: | -167% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -5% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -33% |
| 3 Years: | -34% |
| 1 Year: | -54% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -3% |
| Last Year: | -4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 12 | 62 | 67 | 110 | 261 |
| Reserves | 111 | 78 | 867 | 800 | 620 |
| 92 | 89 | 126 | 76 | 64 | |
| 99 | 98 | 69 | 107 | 113 | |
| Total Liabilities | 314 | 327 | 1,128 | 1,093 | 1,059 |
| 1 | 1 | 1 | 1 | 1 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 56 | 29 | 683 | 24 | 16 |
| 257 | 297 | 444 | 1,068 | 1,042 | |
| Total Assets | 314 | 327 | 1,128 | 1,093 | 1,059 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 35 | -20 | -163 | 68 | 17 | |
| -2 | 37 | -654 | 664 | 10 | |
| -32 | -17 | 821 | -47 | -16 | |
| Net Cash Flow | 0 | 0 | 3 | 686 | 11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 163 | 299 | 343 | -1,145 | 1,644 |
| Inventory Days | -1,972 | 4,941 | |||
| Days Payable | 213 | ||||
| Cash Conversion Cycle | 163 | 299 | 343 | -3,118 | 6,372 |
| Working Capital Days | 484 | 666 | 1,205 | 3,616 | 5,115 |
| ROCE % | 17% | 1% | -3% | -4% |
Documents
Announcements
-
Disclosure under Regulation 30A of LODR
3h - Dharan Infra-EPC defaults INR 40.48 Cr on loans out of INR 59.55 Cr outstanding as of March 31, 2025.
-
Disclosure under Regulation 30A of LODR
3h - Dharan Infra defaults INR 41.52 Cr on loans out of INR 61.02 Cr outstanding as of Dec 31, 2024.
-
Disclosure under Regulation 30A of LODR
4h - Dharan Infra defaults INR 43.89 Cr on loans out of INR 71.49 Cr outstanding as of Sep 30, 2024.
-
Update On Announcement Made On July 11,2025
2d - Company received NSE/BSE warning for delayed loan default disclosure, commits corrective actions.
-
Board Meeting Outcome for Taking Note Of Waring Letter
11 Jul - Company received NSE and BSE warning letters for delayed default disclosures, committing corrective actions.
Business Overview:[1][2]
DIEPCL is primarily engaged in 2 business verticals:
a) Construction and development of residential and commercial projects
b) Contractual project execution.
As of 31 March 2024, the company had delivered 101 residential and commercial units in its various ongoing projects in Nashik, covering a built-up area of 1.08 lakh square feet. In FY24, the company secured 11 active work orders. The group has handed over possession for a ~109 units from April 2024.
They have handed over possession of 76 units of the project Hari Kunj Mayflower, a residential cum commercial project situated at Karmayogi Nagar, Nashik.
In the Hari Krishna Phase IV project, the company has handed over 19 units, while the remaining units are from the other projects.