Dhariwalcorp Ltd
Incorporated in 2020, Dhariwalcorp Limited trades in a wide range of waxes, industrial chemicals, and petroleum jelly.[1]
- Market Cap ₹ 302 Cr.
- Current Price ₹ 337
- High / Low ₹ 337 / 90.5
- Stock P/E 76.1
- 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 7.65 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: | 174% |
| 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
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General Updates
25 November 2025 - Nov 25, 2025: Dhariwalcorp to incorporate Dhariwal House of Spices; paid-up Rs1,000,000; Dhariwal buys 51% (Rs5,10,000).
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Outcome of Board Meeting
14 November 2025 - Board approved unaudited H1 results (Sep 30, 2025): Revenue Rs11,866.45 lakh; Profit Rs309.05 lakh; limited review unqualified.
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Price movement
7 November 2025 - 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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Press Release
18 October 2025 - Acquired 16.40 ha Oct 17-18, 2025; earlier 5.5118 and 6.3131 ha; RIPS 75% exemptions.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
15 October 2025 - Reg 74(5) certificate: shares fully dematerialised; no rematerialisation requests for quarter ended Sep 30, 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.