Dhara Rail Projects Ltd
Incorporated in 2010, Dhara Rail Projects Ltd provides various services like annual maintenance contracts, and repair services for railway rolling stock systems.[1]
- Market Cap ₹ 241 Cr.
- Current Price ₹ 160
- High / Low ₹ 172 / 90.0
- Stock P/E 15.6
- Book Value ₹ 48.7
- Dividend Yield 0.00 %
- ROCE 36.5 %
- ROE 35.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.6%
- Promoter holding has increased by 2.20% over last quarter.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 171 days.
- Working capital days have increased from -41.5 days to 162 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
Services Services Commercial Services & Supplies Diversified Commercial Services
Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 18 | 26 | 31 | 44 | 56 | |
| 20 | 25 | 30 | 39 | 36 | |
| Operating Profit | -2 | 1 | 1 | 5 | 20 |
| OPM % | -11% | 3% | 4% | 12% | 35% |
| 3 | 1 | 3 | 3 | 2 | |
| Interest | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 2 | 4 | 8 | 21 |
| Tax % | 34% | 28% | 25% | 23% | 25% |
| 0 | 1 | 3 | 6 | 15 | |
| EPS in Rs | 46.00 | 117.00 | 280.00 | 629.00 | 10.23 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 29% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 154% |
| TTM: | 235% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 38% |
| Last Year: | 36% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 0.10 | 15 |
| Reserves | 2 | 3 | 6 | 13 | 58 |
| 16 | 23 | 27 | 20 | 11 | |
| 8 | 8 | 13 | 11 | 12 | |
| Total Liabilities | 26 | 34 | 46 | 44 | 97 |
| 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 9 | 14 | 14 | 0 | 0 |
| 17 | 20 | 32 | 44 | 96 | |
| Total Assets | 26 | 34 | 46 | 44 | 97 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -6 | 1 | -0 | -5 | -6 | |
| -4 | -0 | -6 | 17 | 5 | |
| 8 | 0 | 5 | -7 | 35 | |
| Net Cash Flow | -1 | 0 | -2 | 4 | 34 |
| Free Cash Flow | -6 | 1 | -0 | -5 | -6 |
| CFO/OP | 277% | 67% | 33% | -58% | -6% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 94 | 66 | 68 | 171 | 171 |
| Inventory Days | 4 | 24 | 206 | 37 | 250 |
| Days Payable | 173 | 147 | 229 | 129 | 203 |
| Cash Conversion Cycle | -75 | -56 | 45 | 79 | 218 |
| Working Capital Days | 56 | 52 | -242 | -44 | 162 |
| ROCE % | 6% | 7% | 19% | 36% |
Insights
In beta| Jan 2026 | |
|---|---|
| Order Duration - Central Railway AMC Years |
|
| Single Order Value INR |
Extracted by Screener AI
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
10 June 2026 - Dhara Rail Projects will present at Hem Securities' Samruddhi Season 3 investor conference on 16 June 2026.
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Price movement
10 June 2026 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …
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Awarding of order(s)/contract(s)
29 May 2026 - Dhara Rail Projects won a Rs 4.31 crore two-year railway maintenance order at Tirupati.
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Press Release
27 May 2026 - Dhara Rail Projects reported FY26 revenue ₹56.74 Cr, PAT ₹15.44 Cr, and order book ₹184 Cr.
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Awarding of order(s)/contract(s)
27 May 2026 - Dhara Rail Projects won a Rs 5.60 crore repair and maintenance work order for 24 months.
Annual reports
No data available.
Business Profile[1]
Dhara Rail Projects Limited, is an ISO 9001:2015 certified railway services company engaged in execution of contractual railway projects and allied services for Indian Railways. The company operates primarily in operations, maintenance, repair and SITC (Supply, Installation, Testing & Commissioning) of electrical and mechanical systems used in railway rolling stock.