Dhariwalcorp Ltd
Incorporated in 2020, Dhariwalcorp Limited trades in a wide range of waxes, industrial chemicals, and petroleum jelly.[1]
- Market Cap ₹ 285 Cr.
- Current Price ₹ 318
- High / Low ₹ 371 / 90.5
- Stock P/E 71.9
- Book Value ₹ 44.0
- Dividend Yield 0.00 %
- ROCE 18.5 %
- ROE 16.4 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
Cons
- Stock is trading at 7.22 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.3.04 Cr.
* 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
Commodities Chemicals Chemicals & Petrochemicals Trading - Chemicals
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 159 | 194 | 229 | 233 | 232 | |
| 157 | 194 | 224 | 230 | 228 | |
| Operating Profit | 2 | 0 | 4 | 3 | 4 |
| OPM % | 1% | 0% | 2% | 1% | 2% |
| 1 | 1 | 2 | 3 | 3 | |
| Interest | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 1 | 6 | 5 | 6 |
| Tax % | 24% | 31% | 25% | 29% | |
| 1 | 1 | 5 | 4 | 4 | |
| EPS in Rs | 142.00 | 60.00 | 6.86 | 3.98 | 4.42 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 36% |
| TTM: | -5% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 136% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 29% |
| Last Year: | 16% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 7 | 9 | 9 |
| Reserves | 2 | 2 | 2 | 26 | 30 |
| 6 | 6 | 9 | 11 | 15 | |
| 6 | 11 | 4 | 22 | 11 | |
| Total Liabilities | 14 | 20 | 21 | 68 | 65 |
| 2 | 2 | 2 | 6 | 7 | |
| CWIP | 0 | 0 | 3 | 3 | 3 |
| Investments | 0 | 0 | 0 | 4 | 1 |
| 12 | 18 | 17 | 54 | 54 | |
| Total Assets | 14 | 20 | 21 | 68 | 65 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 1 | 1 | -0 | -13 | |
| -0 | 0 | -3 | -11 | |
| -1 | -1 | 4 | 24 | |
| Net Cash Flow | 0 | 0 | 0 | -0 |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 20 | 21 | 12 | 26 |
| Inventory Days | 4 | 9 | 8 | 43 |
| Days Payable | 9 | 18 | 4 | 29 |
| Cash Conversion Cycle | 15 | 12 | 17 | 41 |
| Working Capital Days | 2 | 3 | 10 | 38 |
| ROCE % | 18% | 50% | 19% |
Documents
Announcements
-
Copy of Newspaper Publication
12 December 2025 - Newspaper ad (12 Dec 2025) on dispatch of postal ballot notice and e-voting information in Business Standard and Business Remedies.
-
Shareholders meeting
11 December 2025 - Postal ballot: increase authorized capital to Rs25 crore; create 1.2 crore shares; 1:5 share split; e-voting Dec14–Jan12,2026.
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Outcome of Board Meeting
10 December 2025 - Board approved increase in authorised capital to Rs25 crore and 1:5 share split; postal ballot Dec14,2025–Jan12,2026.
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Outcome of Board Meeting
10 December 2025 - Board approved authorized capital rise to Rs25 crore and 1:5 share split; postal ballot Dec 14,2025–Jan 12,2026.
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General Updates
6 December 2025 - Dhariwalcorp incorporated DHARIWAL HOUSE OF SPICES Ltd; 51% via Rs5,10,000 subscription; CoI dated Dec 05, 2025.
Business Profile[1] The company processes, purchases, sells, imports, and trades various types of wax, including Paraffin Wax, Micro Wax, Slack Wax, Carnauba Wax, Microcrystalline Waxes, Semi-Refined Paraffin Wax, Yellow Beeswax, Hydrocarbon Wax, montan wax, Polyethylene Wax, Vegetable Wax, Residue Wax, Palm Wax, BN Micro Wax, Hydrogenated Palm Wax, Micro Slack Wax, PE Wax, and Soya Wax.