Dhunseri Ventures Ltd.

•

aspetindia.comBSE: 523736NSE: DVL

Market Cap₹ 1,002 Cr.

Current Price

High / Low₹ 381 / 187

Stock P/E87.0

Book Value₹ 562

Price to Book0.35

Dividend Yield1.75 %

ROCE0.1 %

ROE0.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Polyester Chips: 100.0%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company is almost debt free
Company has delivered good sales growth of 21.4% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 63.4% versus prior year
Company has a low return on capital employed of 5.8%
Company has a low return on equity of 4.7% over last 3 years

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

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

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

S.No.	Name
1.	ADANIENT	2894.80	52.64	391875.62	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	999.50	27.25	45372.45	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	CPPLUS	3715.75	92.10	43957.48	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	AEGISLOG	1242.80	34.86	43622.28	0.70	544.84	210.70	2356.86	37.07	19.76	30.28
5.	REDINGTON	363.00	16.68	28378.41	1.65	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.45	61.63	15337.81	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	70.95	96.45	10830.89	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	825.65	83.70	10406.10	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	62.14	20.84	9321.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1799.70	62.46	7832.85	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	346.70	24.48	7658.08	0.43	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	DVL	286.05	5.16	1001.88	1.75	174.29	-75.39	231.59	33.50	4.58	91.38

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
	20	23	74	232	127	94	71	103	128	49	39	48	155
	4	5	53	224	81	60	54	225	53	91	86	126	69
Operating Profit	16	18	20	9	46	34	18	-122	75	-95	-47	-78	87
OPM %	79.64%	78.59%	27.54%	3.70%	36.23%	36.19%	24.73%	-118.47%	58.68%	-195.35%	-118.90%	-160.82%	55.97%
Other Income	36	87	14	14	16	35	42	13	55	18	33	16	54
Interest	1	1	2	3	1	1	1	1	1	1	1	1	1
Depreciation	1	1	0	0	1	1	1	1	1	0	0	0	0
	52	104	32	19	61	68	58	-111	128	-52	-15	-63	140
Tax %	21.10%	19.96%	17.25%	15.33%	16.48%	22.24%	23.57%	21.84%	19.76%	17.58%	20.75%	31.85%	21.85%
Net Profit	41	83	26	16	51	53	44	-87	103	-43	-12	-43	109
	12	24	8	5	14	15	13	-25	29	-12	-3	-12	3
Equity Capital	35	35	35	35	35	35	35	35	35	35	35	35	35
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	22	947	722	18	100	183	156	350	293	264	291
	21	916	693	39	21	142	156	286	318	356	373
Operating Profit	15	46	104	24	145	210	159	215	82	30	—
OPM %	68	5	14	132	145	115	102	62	28	11	—
Other Income	14	15	76	44	67	169	159	152	107	122	121
Interest	0	1	23	5	4	5	5	7	4	3	3
Depreciation	0	0	1	1	2	2	2	2	3	2	2
	-168	44	54	17	139	203	152	207	75	-1	10
Tax %	87	16	5	-7	12	16	21	19	19	496	-18
Net Profit	-22	37	51	18	123	170	121	167	61	5	12
EPS	0	10	0	0	35	49	34	48	17	2	—
Dividend Payout %	-32	33	28	10	7	8	15	10	29	319	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-6	10	15	5	35	49	34	48	17	2	—

COMPOUNDED SALES GROWTH

10 Years:: -20%
5 Years:: 21%
3 Years:: 19%

COMPOUNDED PROFIT GROWTH

10 Years:: -17%
5 Years:: -46%
3 Years:: -64%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 0%
3 Years:: 3%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 7%
3 Years:: 5%
Last Year:: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	35	35	35	35	35	35	35	35	35	35
	723	798	841	808	1,044	1,308	1,401	1,735	1,856	1,824
	0	108	8	7	7	37	30	30	30	30
Trade Payables	2	148	3	0	0	0	0	34	22	43
	60	78	137	120	100	41	34	61	23	4
Total Liabilities	819	1,167	1,024	970	1,186	1,422	1,501	1,895	1,966	1,937
ASSETS	-	-	-	-	-	-	-	-	-	-
	1	1	1	3	3	3	4	7	9	7
	707	709	746	813	1,058	1,308	1,431	1,789	1,839	1,775
	0	71	0	0	0	0	0	1	0	0
	0	0	0	0	0	0	0	34	21	44
Cash & Bank	11	56	13	24	24	16	13	6	36	20
	101	331	264	130	101	95	54	57	61	91
Total Assets	819	1,167	1,024	970	1,186	1,422	1,501	1,895	1,966	1,937
Total Debt	0	108	60	53	47	40	31	30	32	32
Net Working Capital	99	394	399	209	296	307	185	225	608	648
Contingent Liabilities	0	0	0	0	0	0	0	0	0	0
Book Value per Share	216.51	237.74	249.98	240.67	308.03	383.53	410.12	505.29	539.79	530.87
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	263	-336	96	92	2	-1	139	12	-380	-69
Cash from Investing	-237	285	-53	-55	15	15	-112	7	431	88
Cash from Financing	-17	97	-85	-30	-13	-21	-30	-25	-22	-34
	9	46	-43	7	4	-7	-3	-6	29	-16
Free Cash Flow	263	-336	95	89	-0	-3	136	7	-380	-69
OCF / Net Profit	-11.92	-9.17	1.88	5.14	0.01	-0.01	1.15	0.07	-6.25	-12.63
Cumulative 5-Year FCF	0	0	0	0	110	-155	317	229	-239	-308

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-6.30	10.45	14.52	5.09	35.16	48.52	34.46	47.62	17.36	1.57
Book Value (₹)	216.51	237.74	249.98	240.67	308.03	383.53	410.12	505.29	539.79	530.87
Dividend per Share (₹)	2.00	3.50	4.00	0.50	2.50	4.00	5.00	5.00	5.00	5.00
Cash EPS (₹)	-6.17	10.57	14.68	5.50	35.78	49.06	35.10	48.14	18.23	2.14
PROFITABILITY
Operating Margin %	68.19%	4.81%	14.44%	132.15%	145.36%	114.66%	101.86%	18.11%	-8.30%	-34.98%
Net Margin %	-99.35%	3.87%	7.05%	99.89%	123.15%	92.75%	77.16%	47.72%	20.73%	2.08%
ROE %	-2.88%	4.60%	5.95%	2.08%	12.82%	14.03%	8.68%	10.40%	3.32%	0.29%
ROCE %	-11.78%	5.31%	8.13%	2.42%	14.17%	16.59%	11.02%	13.07%	4.25%	0.08%
	-1.33%	3.69%	4.64%	1.79%	11.43%	13.03%	8.26%	9.82%	3.15%	0.28%
EFFICIENCY
Debtor Days	0	46	0	0	0	0	0	36	35	45
Inventory Days	0	27	0	0	0	0	0	1	0	0
Payable Days	0	33	44	0	0	1	1	24	39	50
	0	40	-44	0	0	-1	-1	12	-4	-5
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.13x	0.07x	0.06x	0.04x	0.03x	0.02x	0.02x	0.02x	0.02x
Interest Coverage (x)	-2006.85x	32.40x	3.38x	4.03x	37.90x	44.31x	30.84x	32.48x	20.46x	0.53x
	2.75x	2.20x	5.50x	3.68x	7.74x	7.01x	4.95x	3.62x	10.86x	8.82x
GROWTH
Revenue Growth %	-99.14%	4163.16%	-23.77%	-97.53%	460.15%	83.19%	-14.61%	123.45%	-16.09%	-10.09%
Operating Profit Growth %	-89.95%	200.59%	128.95%	-77.36%	516.10%	44.50%	-24.14%	35.13%	-61.83%	-63.71%
Net Profit Growth %	-160.95%	265.96%	38.93%	-64.94%	590.58%	37.97%	-28.97%	38.19%	-63.54%	-90.96%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.19%	-63.54%	-90.96%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.78x	18.43x	119.53x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.64x	0.59x	0.35x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.55%	1.56%	2.67%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.36x	13.59x	22.41x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
	0.53	0.69	0.69	0.64	0.64	0.62	0.63	0.56	0.55
	1.73	1.73	1.73	1.73	1.73	1.73	1.73	1.73	1.73
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	22.73	22.57	22.57	22.62	22.62	22.64	22.63	22.70	22.71

Documents

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

2026-08-20

Updates

2026-08-20 - Dhunseri Ventures Limited has informed the Exchange regarding 'Re-appointments of the Directors approved in the 110th AGM of the Company'.

2026-08-20

Shareholders meeting

2026-08-20 - Dhunseri Ventures Limited has submitted the Exchange a copy Srutinizers report of 110th Annual General Meeting held on August 18, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-18

Shareholders meeting

2026-08-18 - Dhunseri Ventures Limited has informed the Exchange regarding Proceedings of the 110th Annual General Meeting held on August 18, 2026

2026-08-10

Outcome of Board Meeting

2026-08-10 - Dhunseri Ventures Limited has submitted to the Exchange, the Un-audited Financial Results for the quarter ended Jun 30, 2026.

2026-07-31

General Updates

2026-07-31 - Dhunseri Ventures Limited has informed the Exchange about General Updates

2026-07-28

Copy of Newspaper Publication

2026-07-28 - Dhunseri Ventures Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-27

Shareholders meeting

2026-07-27 - Dhunseri Ventures Limited has informed the Exchange about Shareholders meeting

2026-07-22

Copy of Newspaper Publication

2026-07-22 - Dhunseri Ventures Limited has informed the Exchange about Copy of Newspaper Publication

2026-06-29

Disclosure under SEBI Takeover Regulations

2026-06-29 - Chandra Kumar Dhanuka 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.

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