Dhariwalcorp Ltd
Incorporated in 2020, Dhariwalcorp Limited trades in a wide range of waxes, industrial chemicals, and petroleum jelly.[1]
- Market Cap ₹ 388 Cr.
- Current Price ₹ 41.3
- High / Low ₹ 48.3 / 9.34
- Stock P/E 98.0
- Book Value ₹ 4.41
- Dividend Yield 0.00 %
- ROCE 18.5 %
- ROE 16.4 %
- Face Value ₹ 2.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
Cons
- Stock is trading at 9.37 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 | 14.20 | 6.00 | 0.68 | 0.40 | 0.45 |
| 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: | 298% |
| 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% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Domestic Reach (States) Number |
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| Domestic Reach (Union Territories) Number |
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| International Presence (Countries) Number |
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| Operational Warehouses Number |
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| Processing Units Number |
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| Permanent Employees Number |
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Documents
Announcements
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Copy of Newspaper Publication
7 March 2026 - Rights issue up to 47,007,000 shares at ₹2.50 (₹11,75,17,500); 1:1 ratio; record date Feb 27, 2026.
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General Updates
26 February 2026 - Rights issue: up to 4,70,07,000 shares at ₹2.50, raising up to ₹1,175.18 lakh; record date Feb 27; issue Mar 10–18, 2026.
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General Updates
24 February 2026 - ISIN INE0YRN20017 assigned for rights entitlements; entitlements to be credited before issue opening.
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Rights Issue
21 February 2026 - Rights issue up to 4,70,07,000 shares at ₹2.50; ₹11.75 crore; opens 10 March, closes 18 March 2026.
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General Updates
21 February 2026 - Board-approved rights issue: up to 4,70,07,000 shares at ₹2.50; raise ₹11.75 crore; opens 10 Mar 2026.
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.