Dharan Infra-EPC Ltd.

•

kardaconstruction.comBSE: 541161NSE: DHARAN

Market Cap₹ 99 Cr.

Current Price

High / Low₹ 1 / 0

Stock P/E0.0

Book Value₹ 2

Price to Book0.30

Dividend Yield0.00 %

ROCE-3.8 %

ROE-4.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Real Estate: 100.0%

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.11x)
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on capital employed of -2.3%
Company has a low return on equity of -3.8% over last 3 years
Interest coverage is weak at -10.0x - earnings barely cover interest
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	656.40	36.55	162479.46	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1165.45	28.23	116454.47	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1897.90	53.03	67883.68	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1541.85	58.31	66412.14	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1796.30	24.84	65313.87	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1860.00	35.01	56028.13	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	613.40	38.15	22074.85	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	662.00	31.08	21598.36	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1341.65	113.30	14985.65	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1228.35	56.96	13137.67	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	785.75	10.59	11054.40	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	DHARAN	0.19	0.00	99.35	0.00	-4.19	-879.44	3.50	-43.55	-3.60	-42.86

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	14	18	62	10	-5	13	13	9	6	1	1	-0	3
	9	22	66	21	9	39	19	23	6	25	2	8	5
Operating Profit	4	-4	-4	-11	-13	-26	-7	-14	1	-24	-1	-8	-1
OPM %	32.99%	-25.04%	-5.97%	-117.92%	294.47%	-206.91%	-52.99%	-146.25%	8.39%	-2195.41%	-49.64%	12750.00%	-42.99%
	0	-0	0	1	14	3	3	1	0	0	1	1	0
Interest	4	3	3	3	3	6	1	3	2	-3	2	1	3
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	1	-8	-7	-13	-2	-30	-5	-15	-1	-21	-2	-8	-4
Tax %	7.34%	2.79%	-1.23%	-0.00%	-0.00%	0.03%	-0.37%	-0.00%	-0.85%	-0.05%	-0.46%	-0.13%	-0.25%
Net Profit	1	-8	-7	-13	-2	-30	-5	-15	-1	-21	-2	-8	-4
	0.02	-0.12	-0.11	-0.16	-0.02	-0.31	-0.05	-0.12	-0.01	-0.08	-0.01	-0.03	-0.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	101	106	127	105	114	129	102	108	21	18	6
	79	79	95	75	87	94	73	111	67	56	39
Operating Profit	21	27	32	30	27	35	29	-3	-46	-38	-34
OPM %	21.34%	25.23%	25.08%	28.44%	24.00%	27.21%	28.29%	-2.66%	-223.23%	-211.85%	-599.64%
	5	4	8	3	3	8	10	1	20	2	2
Interest	17	18	20	17	18	15	14	13	11	4	2
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	9	12	19	16	13	28	24	-15	-37	-39	-35
Tax %	31.72%	35.22%	30.82%	24.55%	23.81%	27.46%	27.80%	-0.14%	-0.04%	-0.07%	-0.12%
Net Profit	6	8	13	12	10	20	17	-15	-37	-39	-35
EPS	6.37	7.88	12.77	9.78	1.55	0.33	0.28	-0.23	-0.34	-0.15	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	3.04%	17.75%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -9%
5 Years:: -31%
3 Years:: -44%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -73%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 4%
3 Years:: -4%
Last Year:: -4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5	9	12	12	12	12	62	67	110	261
	18	21	71	82	91	111	78	840	788	596
	209	194	140	144	161	159	152	158	121	133
Trade Payables	9	6	14	17	14	16	9	3	4	4
	9	18	61	10	12	15	25	50	57	37
Total Liabilities	250	248	299	265	290	314	327	1,116	1,079	1,032
	2	2	2	2	1	1	1	1	1	1
	6	20	2	27	47	56	29	21	24	689
	188	171	141	155	164	124	118	129	145	155
	0	0	0	0	0	0	0	0	84	78
Cash & Bank	1	2	92	7	0	0	0	3	4	4
	52	53	62	75	78	132	179	962	822	106
Total Assets	250	248	299	265	290	314	327	1,116	1,079	1,032

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	6	36	63	-12	46	38	-14	-825	45	678
Cash from Investing	9	-8	25	-21	-15	-2	37	8	2	-663
Cash from Financing	-20	-24	6	-46	-35	-32	-17	821	-47	-16
	-6	1	90	-85	-6	-0	0	3	0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	1.98	1.98	1.27	0.83	0.83	0.83	0.83	0.83
	0.78	0.00	0.00	0.19	0.00	0.75	0.75	0.37
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	97.24	98.02	98.72	98.98	99.17	98.41	98.42	98.80

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-23

Updates

2026-08-23 - DHARAN INFRA-EPC LIMITED has informed the Exchange regarding 'Ongoing submission of information with SEBI'.

2026-08-18

Updates

2026-08-18 - DHARAN INFRA-EPC LIMITED has informed the Exchange regarding 'Disclosure regarding ongoing SEBI investigation and submission of information'.

2026-07-14

Disclosure under SEBI Takeover Regulations

2026-07-14 - DHARAN INFRA-EPC LIMITED has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-30

Trading Window

2026-06-30 - DHARAN INFRA-EPC LIMITED has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-05-08

Resignation of Director/KMP/SMP

2026-05-08 - DHARAN INFRA-EPC LIMITED has informed the Exchange about Resignation of Director/KMP/SMP

2026-05-08

Resignation

2026-05-08 - DHARAN INFRA-EPC LIMITED has informed the Exchange regarding Resignation of Mrs Mrs Prachi Aditya Sakpal as Non- Executive Independent Director of the company w.e.f. May 08, 2026.

News

Recent coverage and analyst commentary for DHARAN

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Dharan Infra-EPC Ltd.

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Free 5nance Account

Name

DLF

656.40

36.55

162479.46

1.22

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1165.45

28.23

116454.47

0.36

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1897.90

53.03

67883.68

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1541.85

58.31

66412.14

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1796.30

24.84

65313.87

0.45

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1860.00

35.01

56028.13

0.54

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

613.40

38.15

22074.85

0.16

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

662.00

31.08

21598.36

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1341.65

113.30

14985.65

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1228.35

56.96

13137.67

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

785.75

10.59

11054.40

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

DHARAN

0.19

0.00

99.35

0.00

-4.19

-879.44

3.50

-43.55

-3.60

-42.86

Sep 2022

Dec 2022

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

-5

-0

Operating Profit

-4

-11

-13

-26

-7

-14

-24

-1

-8

-1

OPM %

32.99%

-25.04%

-5.97%

-117.92%

294.47%

-206.91%

-52.99%

-146.25%

8.39%

-2195.41%

-49.64%

12750.00%

-42.99%

-0

Interest

-3

Depreciation

Profit before Tax

-8

-7

-13

-2

-30

-5

-15

-1

-21

-2

-8

-4

Tax %

7.34%

2.79%

-1.23%

-0.00%

0.03%

-0.37%

-0.00%

-0.85%

-0.05%

-0.46%

-0.13%

-0.25%

Net Profit

-8

-7

-13

-2

-30

-5

-15

-1

-21

-2

-8

-4

0.02

-0.12

-0.11

-0.16

-0.02

-0.31

-0.05

-0.12

-0.01

-0.08

-0.01

-0.03

-0.02

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

101

106

127

105

114

129

102

108

111

Operating Profit

-3

-46

-38

-34

OPM %

21.34%

25.23%

25.08%

28.44%

24.00%

27.21%

28.29%

-2.66%

-223.23%

-211.85%

-599.64%

Interest

Depreciation

Profit before Tax

-15

-37

-39

-35

Tax %

31.72%

35.22%

30.82%

24.55%

23.81%

27.46%

27.80%

-0.14%

-0.04%

-0.07%

-0.12%

Net Profit

-15

-37

-39

-35

EPS

6.37

7.88

12.77

9.78

1.55

0.33

0.28

-0.23

-0.34

-0.15

—

Dividend Payout %

0.00%

3.04%

17.75%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

110

261

111

840

788

596

209

194

140

144

161

159

152

158

121

133

Trade Payables

Total Liabilities

250

248

299

265

290

314

327

1,116

1,079

1,032

689

188

171

141

155

164

124

118

129

145

155

Cash & Bank

132

179

962

822

106

Total Assets

250

248

299

265

290

314

327

1,116

1,079

1,032

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-12

-14

-825

678

Cash from Investing

-8

-21

-15

-2

-663

Cash from Financing

-20

-24

-46

-35

-32

-17

821

-47

-16

-6

-85

-6

-0

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

1.98

1.27

0.83

0.78

0.00

0.19

0.00

0.75

0.37

DIIs

0.00

Government

0.00

97.24

98.02

98.72

98.98

99.17

98.41

98.42

98.80

Dharan Infra-EPC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Dharan Infra-EPC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI