Dhatre Udyog Ltd.

•

dhatre.comBSE: -NSE: DHATRE

Market Cap₹ 48 Cr.

Current Price

High / Low₹ 5 / 4

Stock P/E0.0

Book Value₹ 6

Price to Book1.16

Dividend Yield0.00 %

ROCE3.6 %

ROE2.5 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.96x)
Company converts assets efficiently - asset turnover of 2.0x

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
Promoter holding has decreased over last 2 years: -11.5pp
Company's sales have been declining over the last five years
Working capital days have increased from 74 to 121 days
Operating margins have contracted to 1.8% from 9.1%

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

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

S.No.	Name
1.	JSWSTEEL	1325.00	13.07	324022.65	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	189.00	21.38	235937.32	2.12	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	197.10	19.06	81412.65	1.19	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2591.20	29.60	68353.43	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	APLAPOLLO	2250.00	50.83	62473.14	0.38	263.11	10.94	5606.71	12.07	31.83	7.34
6.	JSL	737.70	18.72	60817.43	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
7.	SHYAMMETL	1066.05	26.49	29756.85	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	305.30	29.88	19524.19	0.66	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2732.25	44.24	19150.89	0.37	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	508.95	15.87	17934.44	0.39	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	240.90	20.11	16218.33	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	DHATRE	4.43	0.00	48.27	0.00	0.08	—	0.00	-100.00	3.56	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40	39	54	74	53	34	39	18	9	0	0	0	0
	38	40	53	72	52	33	39	17	9	2	1	1	0
Operating Profit	2	-1	2	2	1	0	1	0	-0	-2	-1	-1	-0
OPM %	5.08%	-2.93%	3.04%	2.68%	2.00%	1.19%	1.80%	2.65%	-1.44%	-1690.00%	—	—	—
	1	4	4	3	0	0	0	0	0	1	1	1	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	3	3	5	5	1	0	1	1	0	-1	-1	-0	-0
Tax %	27.90%	31.18%	27.89%	27.20%	24.47%	13.79%	31.58%	41.67%	15.38%	-52.73%	55.41%	116.67%	-2.10%
Net Profit	2	2	4	4	1	0	0	0	0	-2	-0	0	-0
	1.83	1.76	3.32	0.33	0.06	0.02	0.04	0.03	0.01	-0.15	-0.03	0.01	-0.03

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
	503	774	777	752	359	78	12	107	208	144	0
	490	756	758	735	386	135	11	100	203	142	5
Operating Profit	13	18	19	17	-27	-57	1	7	5	3	-5
OPM %	2.57%	2.36%	2.45%	2.26%	-7.61%	-73.31%	6.99%	6.57%	2.20%	1.84%	-4546.00%
	1	1	2	3	4	5	102	3	12	0	2
Interest	12	16	17	16	23	27	0	0	0	0	0
Depreciation	1	1	1	1	2	1	1	1	1	1	0
Profit before Tax	2	3	3	3	-48	-80	102	9	16	2	-3
Tax %	33.19%	33.78%	39.70%	36.10%	34.83%	33.75%	34.82%	27.84%	28.22%	29.19%	14.74%
Net Profit	1	2	2	2	-31	-53	67	7	11	2	-2
EPS	0.00	0.00	0.00	0.00	0.00	-48.62	61.22	6.13	1.03	0.16	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -13%
5 Years:: -17%
3 Years:: 132%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: -6%
5 Years:: 7%
3 Years:: 11%
Last Year:: 2%

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	7	11	11	11	11	11	1	11	11	11
	18	28	29	31	-0	-53	39	50	60	54
	85	107	117	123	239	203	3	1	0	0
Trade Payables	53	95	90	119	4	2	0	0	5	0
	9	5	8	12	-10	-20	4	-4	1	0
Total Liabilities	172	245	255	296	243	143	46	59	76	66
	11	12	17	19	22	15	9	9	9	5
Capital Work in Progress	0	0	1	2	0	0	0	0	0	0
	2	3	3	3	2	0	0	0	18	10
	38	57	20	18	13	2	2	7	5	1
	0	0	0	0	0	0	0	0	36	28
Cash & Bank	14	20	18	26	19	0	0	1	1	1
	107	153	197	228	187	127	35	42	6	21
Total Assets	172	245	255	296	243	143	46	59	76	66

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
	7	-10	8	20	-103	32	0	-2	22	-1
Cash from Investing	2	-4	-4	-11	9	31	-0	-0	-20	0
Cash from Financing	-7	17	-5	-8	93	-63	1	3	-1	0
	1	3	-1	-0	-2	-0	1	0	1	-1

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
PER SHARE
EPS (₹)	1.68	1.92	1.62	2.01	-28.71	-48.62	1224.21	6.13	1.03	0.16
Book Value (₹)	35.25	35.62	36.64	38.67	9.94	-38.68	717.66	56.03	6.46	6.00
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.24	0.24	0.24	0.28	-2.72	-4.74	123.40	0.67	1.08	0.21
PROFITABILITY
Operating Margin %	2.73%	2.47%	2.44%	2.68%	-6.51%	-66.49%	9.14%	9.33%	2.20%	1.84%
Net Margin %	0.24%	0.27%	0.20%	0.29%	-8.73%	-68.06%	574.57%	6.24%	5.38%	1.18%
ROE %	4.87%	6.49%	4.50%	5.33%	-118.09%	0.00%	0.00%	13.34%	17.00%	2.50%
ROCE %	12.40%	14.65%	13.34%	12.07%	-12.08%	-25.96%	96.35%	16.35%	23.48%	3.56%
	0.71%	1.01%	0.71%	0.79%	-11.62%	-27.48%	70.50%	12.72%	16.56%	2.39%
EFFICIENCY
Debtor Days	66	55	64	95	199	668	2207	116	65	81
Inventory Days	32	22	16	9	16	35	47	15	11	8
Payable Days	43	36	46	54	65	15	0	1	5	7
	54	41	34	50	150	688	2255	130	71	83
FINANCIAL HEALTH
Debt to Equity (x)	3.30x	2.75x	2.87x	2.90x	21.96x	-4.80x	0.07x	0.02x	0.00x	0.00x
Interest Coverage (x)	1.16x	1.20x	1.17x	1.22x	-1.08x	-1.98x	3810.05x	90.14x	3893.00x	138.80x
	1.20x	1.21x	1.16x	1.16x	0.95x	0.56x	48.35x	42.10x	8.02x	21.84x
GROWTH
Revenue Growth %	-15.61%	53.97%	0.39%	-3.32%	-52.30%	-78.26%	-85.09%	821.44%	93.99%	-30.55%
Operating Profit Growth %	-0.55%	38.28%	12.11%	-6.88%	-215.61%	-122.14%	102.05%	841.01%	61.72%	-81.67%
Net Profit Growth %	-10.85%	70.97%	-15.48%	23.54%	-1530.05%	-69.38%	225.90%	-89.99%	67.21%	-84.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-83.28%	-84.81%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	23.11x	44.74x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.67x	1.16x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.89x	25.36x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.42	64.64	64.32	64.23	62.28	61.92	61.92	61.92	61.92
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	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	0.00
Public	26.58	35.36	35.68	35.77	37.72	38.08	38.08	38.08	38.08

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for DHATRE

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Dhatre Udyog Ltd.

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Name

JSWSTEEL

1325.00

13.07

324022.65

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

189.00

21.38

235937.32

2.12

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

197.10

19.06

81412.65

1.19

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2591.20

29.60

68353.43

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

APLAPOLLO

2250.00

50.83

62473.14

0.38

263.11

10.94

5606.71

12.07

31.83

7.34

JSL

737.70

18.72

60817.43

0.54

768.66

7.56

11278.54

10.50

19.19

12.09

SHYAMMETL

1066.05

26.49

29756.85

0.42

350.73

20.66

5455.09

23.45

13.88

14.03

JINDALSAW

305.30

29.88

19524.19

0.66

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2732.25

44.24

19150.89

0.37

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

508.95

15.87

17934.44

0.39

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

240.90

20.11

16218.33

0.42

222.37

2.75

1750.47

32.29

20.20

19.36

DHATRE

4.43

0.00

48.27

0.00

0.08

—

0.00

-100.00

3.56

—

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-1

-0

-2

-1

-0

OPM %

5.08%

-2.93%

3.04%

2.68%

2.00%

1.19%

1.80%

2.65%

-1.44%

-1690.00%

—

Interest

Depreciation

Profit before Tax

-1

-0

Tax %

27.90%

31.18%

27.89%

27.20%

24.47%

13.79%

31.58%

41.67%

15.38%

-52.73%

55.41%

116.67%

-2.10%

Net Profit

-2

-0

1.83

1.76

3.32

0.33

0.06

0.02

0.04

0.03

0.01

-0.15

-0.03

0.01

-0.03

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

503

774

777

752

359

107

208

144

490

756

758

735

386

135

100

203

142

Operating Profit

-27

-57

-5

OPM %

2.57%

2.36%

2.45%

2.26%

-7.61%

-73.31%

6.99%

6.57%

2.20%

1.84%

-4546.00%

102

Interest

Depreciation

Profit before Tax

-48

-80

102

-3

Tax %

33.19%

33.78%

39.70%

36.10%

34.83%

33.75%

34.82%

27.84%

28.22%

29.19%

14.74%

Net Profit

-31

-53

-2

EPS

0.00

-48.62

61.22

6.13

1.03

0.16

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

-0

-53

107

117

123

239

203

Trade Payables

119

-10

-20

-4

Total Liabilities

172

245

255

296

243

143

Capital Work in Progress

Cash & Bank

107

153

197

228

187

127

Total Assets

172

245

255

296

243

143

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-10

-103

-2

-1

Cash from Investing

-4

-11

-0

-20

Cash from Financing

-7

-5

-8

-63

-1

-0

-2

-0

-1

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

1.68

1.92

1.62

2.01

-28.71

-48.62

1224.21

6.13

1.03

0.16

Book Value (₹)

35.25

35.62

36.64

38.67

9.94

-38.68

717.66

56.03

6.46

6.00

Dividend per Share (₹)

0.00

Cash EPS (₹)

0.24

0.28

-2.72

-4.74

123.40

0.67

1.08

0.21

PROFITABILITY

Operating Margin %

2.73%

2.47%

2.44%

2.68%

-6.51%

-66.49%

9.14%

9.33%

2.20%

1.84%

Net Margin %

0.24%

0.27%

0.20%

0.29%

-8.73%

-68.06%

574.57%

6.24%

5.38%

1.18%

ROE %

4.87%

6.49%

4.50%

5.33%

-118.09%

0.00%

13.34%

17.00%

2.50%

ROCE %

12.40%

14.65%

13.34%

12.07%

-12.08%

-25.96%

96.35%

16.35%

23.48%

3.56%

0.71%

1.01%

0.71%

0.79%

-11.62%

-27.48%

70.50%

12.72%

16.56%

2.39%

EFFICIENCY

Debtor Days

199

668

2207

116

Inventory Days

Payable Days

150

688

2255

130

FINANCIAL HEALTH

Debt to Equity (x)

3.30x

2.75x

2.87x

2.90x

21.96x

-4.80x

0.07x

0.02x

0.00x

Interest Coverage (x)

1.16x

1.20x

1.17x

1.22x

-1.08x

-1.98x

3810.05x

90.14x

3893.00x

138.80x

1.20x

1.21x

1.16x

0.95x

0.56x

48.35x

42.10x

8.02x

21.84x

GROWTH

Revenue Growth %

-15.61%

53.97%

0.39%

-3.32%

-52.30%

-78.26%

-85.09%

821.44%

93.99%

-30.55%

Operating Profit Growth %

-0.55%

38.28%

12.11%

-6.88%

-215.61%

-122.14%

102.05%

841.01%

61.72%

-81.67%

Net Profit Growth %

-10.85%

70.97%

-15.48%

23.54%

-1530.05%

-69.38%

225.90%

-89.99%

67.21%

-84.81%

0.00%

-83.28%

-84.81%

VALUATION

P/E (x)

0.00x

23.11x

44.74x

P/B (x)

0.00x

3.67x

1.16x

Dividend Yield %

0.00%

0.00x

15.89x

25.36x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

73.42

64.64

64.32

64.23

62.28

61.92

FIIs

0.00

DIIs

0.00

Government

0.00

Public

26.58

35.36

35.68

35.77

37.72

38.08

Dhatre Udyog Ltd.

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Quarterly Results

Profit & Loss

Balance Sheet

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Dhatre Udyog 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