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 ₹ 193 Cr.
- Current Price ₹ 128
- High / Low ₹ 158 / 90.0
- Stock P/E 40.0
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 19.0 %
- ROE 50.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.5%
- Promoter holding has increased by 2.20% over last quarter.
Cons
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.3.51 Cr.
- Company has high debtors of 172 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
Consolidated Figures in Rs. Crores / View Standalone
| Sep 2025 | |
|---|---|
| 28.37 | |
| 18.78 | |
| Operating Profit | 9.59 |
| OPM % | 33.80% |
| 0.46 | |
| Interest | 0.53 |
| Depreciation | 0.02 |
| Profit before tax | 9.50 |
| Tax % | 25.68% |
| 7.06 | |
| EPS in Rs | 6.36 |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 26.60 | 31.47 | 44.48 | |
| 25.85 | 30.14 | 39.19 | |
| Operating Profit | 0.75 | 1.33 | 5.29 |
| OPM % | 2.82% | 4.23% | 11.89% |
| 0.79 | 2.76 | 3.51 | |
| Interest | 0.02 | 0.08 | 0.20 |
| Depreciation | 0.04 | 0.04 | 0.04 |
| Profit before tax | 1.48 | 3.97 | 8.56 |
| Tax % | 27.70% | 25.19% | 23.71% |
| 1.06 | 2.97 | 6.53 | |
| EPS in Rs | 106.00 | 297.00 | 653.00 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 41% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 174% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 41% |
| Last Year: | 50% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 11.10 |
| Reserves | 3.29 | 6.26 | 12.79 | 8.85 |
| 22.74 | 28.16 | 21.33 | 21.29 | |
| 7.85 | 12.77 | 12.02 | 20.49 | |
| Total Liabilities | 33.98 | 47.29 | 46.24 | 61.73 |
| 0.12 | 0.11 | 0.10 | 0.09 | |
| CWIP | -0.00 | -0.00 | -0.00 | -0.00 |
| Investments | 14.13 | 14.48 | 0.26 | 0.26 |
| 19.73 | 32.70 | 45.88 | 61.38 | |
| Total Assets | 33.98 | 47.29 | 46.24 | 61.73 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| -1.57 | -2.03 | -4.97 | |
| -2.41 | -5.62 | 16.58 | |
| 6.50 | 5.34 | -7.03 | |
| Net Cash Flow | 2.52 | -2.31 | 4.57 |
| Free Cash Flow | -1.57 | -2.05 | -5.00 |
| CFO/OP | -168% | -86% | -52% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 65.18 | 68.08 | 172.16 |
| Inventory Days | 25.06 | 207.53 | 36.72 |
| Days Payable | 153.47 | 231.88 | 142.07 |
| Cash Conversion Cycle | -63.23 | 43.73 | 66.82 |
| Working Capital Days | -246.86 | -243.91 | -47.76 |
| ROCE % | 7.98% | 18.97% |
Insights
In beta| Jan 2026 | |
|---|---|
| Order Duration - Central Railway AMC Years ・Standalone data |
|
| Single Order Value INR ・Standalone data |
Extracted by Screener AI
Documents
Announcements
-
Awarding of order(s)/contract(s)
23 May 2026 - Dhara Rail Projects won Rs 1.67 crore railway coach alteration order from Northeast Railway, to be executed in 12 months.
-
Awarding of order(s)/contract(s)
22 May 2026 - Dhara Rail Projects secured Rs. 60.87 lakh domestic overhauling order for 2 tower wagons over 12 months.
-
Awarding of order(s)/contract(s)
19 May 2026 - Dhara Rail Projects secured a Rs 1.32 crore work order for non-AC coach work at CRW Mancheswar, 24 months.
-
Awarding of order(s)/contract(s)
19 May 2026 - Dhara Rail Projects secured a 2-year maintenance order worth Rs 3.69 crore from Ministry of Railways, Gorakhpur.
-
Monitoring Agency Report
18 May 2026 - Brickwork monitoring report for Rs50.20 crore issue shows no deviation; March 31, 2026 quarter.
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.