Dhoot Transmission Ltd
Dhoot Transmission Limited is a global Tier-1 manufacturer of integrated electrical systems, specialising across eight product families: wiring and cable systems, interconnect components, mechanical control systems, electronics and sensors, EV systems, switches and interfaces, protection and insulation, and power solutions.[1]From a single facility to a global network of manufacturing and engineering operations, the company delivers integrated electrical systems across automotive, electric vehicles, industrial equipment, agriculture, marine, railways, medical devices, and consumer applications.
- Market Cap ₹ 33,372 Cr.
- Current Price ₹ 1,631
- High / Low ₹ 1,739 / 1,130
- Stock P/E 74.9
- Book Value ₹ 198
- Dividend Yield 0.00 %
- ROCE 24.4 %
- ROE 24.0 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.0%
Cons
- Stock is trading at 8.25 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1,246 | 1,544 | 2,798 | 3,445 | 4,525 | |
| Sales growth | +24% | +23% | +31% | ||
| 1,124 | 1,397 | 2,281 | 2,851 | 3,812 | |
| Operating Profit | 122 | 147 | 517 | 594 | 713 |
| OPM % | 10% | 10% | 18% | 17% | 16% |
| 7 | 1 | -0 | 27 | 18 | |
| Interest | 41 | 34 | 52 | 71 | 93 |
| Depreciation | 43 | 46 | 76 | 93 | 123 |
| Profit before tax | 44 | 69 | 388 | 458 | 516 |
| Tax % | 30% | 40% | 23% | 23% | 23% |
| 31 | 42 | 299 | 354 | 397 | |
| EPS in Rs | 2.10 | 2.86 | 20.39 | 24.16 | 21.05 |
| Dividend Payout % | 6% | 4% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | % |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 65% |
| 3 Years: | % |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 32% |
| Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 17 | 18 | 38 | 41 |
| Reserves | 231 | 272 | 731 | 976 | 2,397 | 4,001 |
| 459 | 383 | 576 | 815 | 918 | 373 | |
| 265 | 269 | 370 | 514 | 753 | 1,190 | |
| Total Liabilities | 972 | 941 | 1,694 | 2,323 | 4,106 | 5,604 |
| 379 | 385 | 681 | 892 | 1,383 | 2,025 | |
| CWIP | 11 | 15 | 40 | 188 | 18 | 19 |
| Investments | 6 | 17 | 6 | 4 | 0 | 0 |
| 575 | 525 | 966 | 1,238 | 2,704 | 3,559 | |
| Total Assets | 972 | 941 | 1,694 | 2,323 | 4,106 | 5,604 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 24 | 175 | 241 | 320 | 348 | |
| -50 | -79 | -311 | -442 | -1,222 | |
| 14 | -115 | 63 | 138 | 1,912 | |
| Net Cash Flow | -11 | -19 | -6 | 16 | 1,038 |
| Free Cash Flow | -36 | 121 | -31 | -65 | 19 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 26% | 132% | 64% | 73% | 67% |
Ratios
Consolidated / View Standalone
| Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 69 | 57 | 55 | 64 | 64 |
| Inventory Days | 86 | 64 | 68 | 70 | 78 |
| Days Payable | 80 | 61 | 62 | 69 | 73 |
| Cash Conversion Cycle | 75 | 59 | 60 | 64 | 69 |
| Working Capital Days | 5 | 7 | 12 | 7 | 14 |
| ROCE % | 15% | 34% | 24% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Advertisement- Publication of Unaudited (Standalone and Consolidated) Financial Results for the quarter and half year ended September 30, 2026.
- Announcement under Regulation 30 (LODR)-Investor Presentation
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY2026-27 earnings call posted on company website.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CARE report for Q2FY27 shows ₹1,400 crore IPO proceeds utilized; no deviation reported.
Concalls
-
Nov 2026Transcript PPT
-
Nov 2026PPT REC
-
Sep 2026Transcript PPT REC
Business Overview:[1]
Dhoot Transmission Ltd. manufactures
wiring harnesses, electrical distribution
systems, battery packs and automotive electronics. It supplies products for 2W,
3W, commercial vehicles (CV), off high
way and agricultural equipment, across
both ICE and EV applications.