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 ₹ 210 Cr.
- Current Price ₹ 139
- High / Low ₹ 172 / 90.0
- Stock P/E 13.6
- Book Value ₹ 48.8
- Dividend Yield 0.00 %
- ROCE 35.5 %
- ROE 35.7 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.1%
- 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 175 days.
- Working capital days have increased from -44.4 days to 159 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
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 27 | 31 | 44 | 57 | |
| 26 | 30 | 39 | 37 | |
| Operating Profit | 1 | 1 | 5 | 20 |
| OPM % | 3% | 4% | 12% | 35% |
| 1 | 3 | 4 | 2 | |
| Interest | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 4 | 9 | 21 |
| Tax % | 28% | 25% | 24% | 25% |
| 1 | 3 | 7 | 15 | |
| EPS in Rs | 106.00 | 297.00 | 653.00 | 10.24 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 29% |
| TTM: | 28% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 164% |
| TTM: | 220% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| Last Year: | 36% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 15 |
| Reserves | 3 | 6 | 13 | 59 |
| 23 | 28 | 21 | 13 | |
| 8 | 13 | 12 | 12 | |
| Total Liabilities | 34 | 47 | 46 | 99 |
| 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 14 | 14 | 0 | 0 |
| 20 | 33 | 46 | 99 | |
| Total Assets | 34 | 47 | 46 | 99 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -2 | -2 | -5 | -7 | |
| -2 | -6 | 17 | 5 | |
| 6 | 5 | -7 | 36 | |
| Net Cash Flow | 3 | -2 | 5 | 34 |
| Free Cash Flow | -2 | -2 | -5 | -7 |
| CFO/OP | -168% | -86% | -52% | -12% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 65 | 68 | 172 | 175 |
| Inventory Days | 25 | 208 | 37 | 303 |
| Days Payable | 153 | 232 | 142 | 230 |
| Cash Conversion Cycle | -63 | 44 | 67 | 248 |
| Working Capital Days | -247 | -244 | -48 | 159 |
| ROCE % | 8% | 19% | 36% |
Insights
In beta| Mar 2023 | Mar 2025 | Jun 2026 | |
|---|---|---|---|
| Direct Contract Revenue Share % ・Standalone data |
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| Workforce / Employees Deployed number ・Standalone data |
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| AMC Revenue Share % ・Standalone data |
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| Ongoing Projects number ・Standalone data |
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| Order Book INR Crore ・Standalone data |
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| Railway Zones Covered number ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Reply to Clarification- Financial results
2 July 2026 - Clarifies issue-proceeds utilisation for ₹50.20 crore fresh issue; no deviations, March 31, 2026 monitoring report filed.
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Awarding of order(s)/contract(s)
2 July 2026 - Dhara Rail Projects won Rs. 8.20 crore domestic order for Cummins diesel engine overhauling over 36 months.
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Clarification - Financial Results
29 June 2026 - Exchange has sought clarification from Dhara Rail Projects Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …
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Awarding of order(s)/contract(s)
25 June 2026 - Dhara Rail Projects secured a Rs. 2.14 crore railway maintenance order for 24 months.
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Awarding of order(s)/contract(s)
24 June 2026 - Received 2.04 crore repair and maintenance work order from Lumding Division for 24 months.
Annual reports
No data available.
Concalls
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Jun 2026TranscriptAI SummaryPPT
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.