Delaplex Ltd.

•

₹ 83.150.42%

2026-08-21

delaplex.inBSE: -NSE: DELAPLEX

Market Cap₹ 78 Cr.

Current Price₹ 83

High / Low₹ 195 / 81

Stock P/E0.0

Book Value₹ 79

Price to Book1.73

Dividend Yield0.00 %

ROCE20.2 %

ROE15.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 33.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 26.1%
Working capital cycle has improved - days down from 411 to 322
Attractively priced for its growth - PEG of 0.6

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.25x)

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

Peer comparison

EDIT COLUMNS

Information TechnologyITIT - Software

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	TCS	2287.00	16.62	827456.62	4.81	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1117.05	14.97	453305.21	4.30	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1322.50	20.60	358882.21	4.08	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	179.50	13.45	177780.78	6.13	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1582.20	30.20	155076.76	3.22	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4535.00	25.72	134517.77	1.65	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11720.00	29.90	102061.42	3.41	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5510.00	45.20	86920.25	0.73	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1815.00	45.76	80390.07	0.87	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2420.00	24.18	46192.17	2.56	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3538.70	28.44	37537.66	1.64	357.10	12.97	2940.10	11.47	27.70	18.65
12.	DELAPLEX	85.00	6.06	77.85	0.00	10.08	—	55.35	—	21.13	19.98

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2024
	55
	44
Operating Profit	—
OPM %	—
Other Income	1
Interest	0
Depreciation	0
	12
Tax %	14.21%
Net Profit	10
	13
Equity Capital	9
Reserves	0
Promoter Pledge %	0.00%
Equity Capital	9
Reserves	0
Promoter Pledge %	0.00%

Mar 2024

: 55
: 44
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 12
Tax %: 14.21%
Net Profit: 10
: 13
Equity Capital: 9
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 9
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	36	50	54	55	56
	31	42	44	44	45
Operating Profit	6	9	11	12	14
OPM %	16	17	21	22	25
Other Income	0	1	1	1	3
Interest	0	0	0	0	0
Depreciation	1	1	0	0	0
	5	8	11	12	14
Tax %	22	24	25	14	25
Net Profit	4	6	8	10	10
EPS	6	8	11	11	11
Dividend Payout %	0	0	0	0	24
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	6	8	11	11	11
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	6	8	11	11	11

Mar 2021

: 36
: 31
Operating Profit: 6
OPM %: 16
Other Income: 0
Interest: 0
Depreciation: 1
: 5
Tax %: 22
Net Profit: 4
EPS: 6
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2022

: 50
: 42
Operating Profit: 9
OPM %: 17
Other Income: 1
Interest: 0
Depreciation: 1
: 8
Tax %: 24
Net Profit: 6
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2023

: 54
: 44
Operating Profit: 11
OPM %: 21
Other Income: 1
Interest: 0
Depreciation: 0
: 11
Tax %: 25
Net Profit: 8
EPS: 11
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2024

: 55
: 44
Operating Profit: 12
OPM %: 22
Other Income: 1
Interest: 0
Depreciation: 0
: 12
Tax %: 14
Net Profit: 10
EPS: 11
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2025

: 56
: 45
Operating Profit: 14
OPM %: 25
Other Income: 3
Interest: 0
Depreciation: 0
: 14
Tax %: 25
Net Profit: 10
EPS: 11
Dividend Payout %: 24
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 19%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -40%

RETURN ON EQUITY

10 Years:: —
5 Years:: 34%
3 Years:: 26%
Last Year:: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	0	0	0	9	9
	9	16	25	56	63
	1	2	1	3	4
Total Liabilities	11	17	26	68	76
ASSETS	-	-	-	-	-
	1	1	0	0	1
	0	0	1	29	28
	0	0	0	22	27
Cash & Bank	1	4	4	11	3
	9	13	20	6	18
Total Assets	11	17	26	68	76
Total Debt	0	0	0	0	0
Net Working Capital	9	15	24	62	49
Contingent Liabilities	0	0	0	0	0
Book Value per Share	9474.50	15593.20	24883.00	70.97	79.39
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	0	0	0	0	0
Net Working Capital	9	15	24	62	49
Contingent Liabilities	0	0	0	0	0
Book Value per Share	9474.50	15593.20	24883.00	70.97	79.39
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 0
: 9
: 1
Total Liabilities: 11
: 1
: 0
: 0
Cash & Bank: 1
: 9
Total Assets: 11
Total Debt: 0
Net Working Capital: 9
Contingent Liabilities: 0
Book Value per Share: 9474.50
Face Value: 10.00
Total Debt: 0
Net Working Capital: 9
Contingent Liabilities: 0
Book Value per Share: 9474.50
Face Value: 10.00

Mar 2022

Equity Capital: 0
: 16
: 2
Total Liabilities: 17
: 1
: 0
: 0
Cash & Bank: 4
: 13
Total Assets: 17
Total Debt: 0
Net Working Capital: 15
Contingent Liabilities: 0
Book Value per Share: 15593.20
Face Value: 10.00
Total Debt: 0
Net Working Capital: 15
Contingent Liabilities: 0
Book Value per Share: 15593.20
Face Value: 10.00

Mar 2023

Equity Capital: 0
: 25
: 1
Total Liabilities: 26
: 0
: 1
: 0
Cash & Bank: 4
: 20
Total Assets: 26
Total Debt: 0
Net Working Capital: 24
Contingent Liabilities: 0
Book Value per Share: 24883.00
Face Value: 10.00
Total Debt: 0
Net Working Capital: 24
Contingent Liabilities: 0
Book Value per Share: 24883.00
Face Value: 10.00

Mar 2024

Equity Capital: 9
: 56
: 3
Total Liabilities: 68
: 0
: 29
: 22
Cash & Bank: 11
: 6
Total Assets: 68
Total Debt: 0
Net Working Capital: 62
Contingent Liabilities: 0
Book Value per Share: 70.97
Face Value: 10.00
Total Debt: 0
Net Working Capital: 62
Contingent Liabilities: 0
Book Value per Share: 70.97
Face Value: 10.00

Mar 2025

Equity Capital: 9
: 63
: 4
Total Liabilities: 76
: 1
: 28
: 27
Cash & Bank: 3
: 18
Total Assets: 76
Total Debt: 0
Net Working Capital: 49
Contingent Liabilities: 0
Book Value per Share: 79.39
Face Value: 10.00
Total Debt: 0
Net Working Capital: 49
Contingent Liabilities: 0
Book Value per Share: 79.39
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1	3	1	6	1
Cash from Investing	-1	-1	0	-28	-7
Cash from Financing	0	0	-0	29	-3
	-0	2	1	7	-8
Free Cash Flow	1	2	1	5	0
OCF / Net Profit	0.14	0.46	0.07	0.56	0.09
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	0.14	0.46	0.07	0.56	0.09
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 1
Cash from Investing: -1
Cash from Financing: 0
: -0
Free Cash Flow: 1
OCF / Net Profit: 0.14
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.14
Cumulative 5-Year FCF: 0

Mar 2022

: 3
Cash from Investing: -1
Cash from Financing: 0
: 2
Free Cash Flow: 2
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0

Mar 2023

: 1
Cash from Investing: 0
Cash from Financing: -0
: 1
Free Cash Flow: 1
OCF / Net Profit: 0.07
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.07
Cumulative 5-Year FCF: 0

Mar 2024

: 6
Cash from Investing: -28
Cash from Financing: 29
: 7
Free Cash Flow: 5
OCF / Net Profit: 0.56
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.56
Cumulative 5-Year FCF: 0

Mar 2025

: 1
Cash from Investing: -7
Cash from Financing: -3
: -8
Free Cash Flow: 0
OCF / Net Profit: 0.09
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.09
Cumulative 5-Year FCF: 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	4040.00	6118.70	8227.90	11.06	11.35
Book Value (₹)	9474.50	15593.20	24883.00	70.97	79.39
Dividend per Share (₹)	0.00	0.00	0.00	0.00	2.75
Cash EPS (₹)	6.44	9.20	11.91	11.44	11.70
PROFITABILITY	-	-	-	-	-
Operating Margin %	16.09%	17.35%	21.27%	19.96%	19.51%
Net Margin %	11.15%	12.30%	15.24%	18.21%	18.54%
ROE %	42.64%	48.82%	40.66%	22.51%	15.09%
ROCE %	54.46%	64.01%	54.38%	26.25%	20.24%
	37.58%	43.49%	38.14%	21.52%	14.33%
EFFICIENCY	-	-	-	-	-
Debtor Days	82	75	108	136	158
Inventory Days	0	0	0	0	0
Payable Days	0	28	49	540	668
	82	47	59	-403	-510
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	644.92x	1671.42x	2751.12x	1754.18x	565.77x
	32.36x	21.77x	28.03x	17.66x	12.26x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	37.32%	8.57%	2.49%	0.74%
Operating Profit Growth %	0.00%	48.08%	33.09%	5.36%	17.22%
Net Profit Growth %	0.00%	51.45%	34.47%	22.50%	2.55%
	0.00%	0.00%	0.00%	-99.87%	2.55%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	19.67x	12.07x
P/B (x)	0.00x	0.00x	0.00x	3.07x	1.73x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	2.01%
	0.00x	0.00x	0.00x	15.44x	8.59x

Mar 2021

EPS (₹): 4040.00
Book Value (₹): 9474.50
Dividend per Share (₹): 0.00
Cash EPS (₹): 6.44
Operating Margin %: 16.09%
Net Margin %: 11.15%
ROE %: 42.64%
ROCE %: 54.46%
: 37.58%
Debtor Days: 82
Inventory Days: 0
Payable Days: 0
: 82
Debt to Equity (x): 0.00x
Interest Coverage (x): 644.92x
: 32.36x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 6118.70
Book Value (₹): 15593.20
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.20
Operating Margin %: 17.35%
Net Margin %: 12.30%
ROE %: 48.82%
ROCE %: 64.01%
: 43.49%
Debtor Days: 75
Inventory Days: 0
Payable Days: 28
: 47
Debt to Equity (x): 0.00x
Interest Coverage (x): 1671.42x
: 21.77x
Revenue Growth %: 37.32%
Operating Profit Growth %: 48.08%
Net Profit Growth %: 51.45%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 8227.90
Book Value (₹): 24883.00
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.91
Operating Margin %: 21.27%
Net Margin %: 15.24%
ROE %: 40.66%
ROCE %: 54.38%
: 38.14%
Debtor Days: 108
Inventory Days: 0
Payable Days: 49
: 59
Debt to Equity (x): 0.00x
Interest Coverage (x): 2751.12x
: 28.03x
Revenue Growth %: 8.57%
Operating Profit Growth %: 33.09%
Net Profit Growth %: 34.47%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 11.06
Book Value (₹): 70.97
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.44
Operating Margin %: 19.96%
Net Margin %: 18.21%
ROE %: 22.51%
ROCE %: 26.25%
: 21.52%
Debtor Days: 136
Inventory Days: 0
Payable Days: 540
: -403
Debt to Equity (x): 0.00x
Interest Coverage (x): 1754.18x
: 17.66x
Revenue Growth %: 2.49%
Operating Profit Growth %: 5.36%
Net Profit Growth %: 22.50%
: -99.87%
P/E (x): 19.67x
P/B (x): 3.07x
Dividend Yield %: 0.00%
: 15.44x

Mar 2025

EPS (₹): 11.35
Book Value (₹): 79.39
Dividend per Share (₹): 2.75
Cash EPS (₹): 11.70
Operating Margin %: 19.51%
Net Margin %: 18.54%
ROE %: 15.09%
ROCE %: 20.24%
: 14.33%
Debtor Days: 158
Inventory Days: 0
Payable Days: 668
: -510
Debt to Equity (x): 0.00x
Interest Coverage (x): 565.77x
: 12.26x
Revenue Growth %: 0.74%
Operating Profit Growth %: 17.22%
Net Profit Growth %: 2.55%
: 2.55%
P/E (x): 12.07x
P/B (x): 1.73x
Dividend Yield %: 2.01%
: 8.59x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.66	73.66	73.72	73.72	74.25
	2.48	0.00	0.00	0.00	0.00
	2.17	0.40	0.40	0.40	0.00
Government	0.00	0.00	0.00	0.00	0.00
	21.70	25.95	25.88	25.88	25.75

Mar 2024

: 73.66
: 2.48
: 2.17
Government: 0.00
: 21.70

Sep 2024

: 73.66
: 0.00
: 0.40
Government: 0.00
: 25.95

Mar 2025

: 73.72
: 0.00
: 0.40
Government: 0.00
: 25.88

Sep 2025

: 73.72
: 0.00
: 0.40
Government: 0.00
: 25.88

Mar 2026

: 74.25
: 0.00
: 0.00
Government: 0.00
: 25.75

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025
Annual Report FY2024
2024

Credit Ratings

Nothing filed yet.

Concalls

Jul 2026
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Nov 2025
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Nov 2024
TranscriptPPTREC