Dhara Rail Projects Ltd.
•₹ 147.51.06%
2026-08-21
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 52.2%
- Company comfortably covers its interest (42.6x coverage)
- Company generates healthy free cash flow
CONS
- Company has a high debt-to-equity of 1.61x
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (41.7% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.49x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| 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. | PFOCUS | 279.00 | 187.99 | 21727.79 | 0.00 | -457.78 | -514.43 | 12668.15 | 1196.88 | 2.74 | 23.76 |
| 2. | SAGILITY | 42.46 | 20.02 | 19876.92 | 0.35 | 216.81 | 45.94 | 1963.48 | 27.59 | 13.82 | 22.32 |
| 3. | SYNGENE | 397.10 | 72.53 | 16029.70 | 0.31 | -9.00 | -110.38 | 736.00 | -15.84 | 9.48 | 12.34 |
| 4. | IGIL | 338.55 | 24.00 | 14630.77 | 1.48 | 165.74 | 30.98 | 370.78 | 23.22 | 77.00 | 60.35 |
| 5. | INDGN | 564.25 | 33.91 | 13592.86 | 0.40 | 1162.00 | 898.28 | 10631.00 | 1297.34 | 18.92 | 16.39 |
| 6. | NESCO | 1032.45 | 17.63 | 7274.64 | 0.68 | 93.05 | 5.00 | 251.62 | 31.05 | 19.23 | 46.86 |
| 7. | LEAPIND | 160.55 | 113.45 | 7072.81 | 0.00 | — | — | — | — | 9.32 | — |
| 8. | SPARC | 193.15 | 3.96 | 6268.13 | 0.00 | -20.78 | 59.94 | 39.92 | 314.11 | 163.94 | -85.17 |
| 9. | SMARTWORKS | 500.70 | 205.47 | 5727.06 | 0.00 | 13.15 | 413.27 | 546.25 | 44.05 | 52.26 | 63.33 |
| 10. | LATENTVIEW | 276.50 | 29.28 | 5721.48 | 0.00 | 47.10 | -6.84 | 286.88 | 21.55 | 16.69 | 19.76 |
| 11. | JUSTDIAL | 659.80 | 15.46 | 5611.54 | 0.00 | 115.74 | 38.44 | 270.27 | 16.23 | 12.88 | 26.17 |
| 12. | DHARARAIL | 139.00 | 13.58 | 209.67 | 0.00 | — | — | — | — | 25.48 | — |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
No standalone quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 26 | 31 | 44 | |
| 25 | 30 | 39 | |
| Operating Profit | 2 | 4 | 8 |
| OPM % | 6 | 12 | 19 |
| Other Income | 1 | 3 | 3 |
| Interest | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 |
| 2 | 4 | 8 | |
| Tax % | 28 | 25 | 23 |
| Net Profit | 1 | 3 | 6 |
| EPS | 117 | 280 | 629 |
| Dividend Payout % | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 |
| Adjusted EPS | 1 | 3 | 6 |
| Minority Interest | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 |
| Adjusted EPS | 1 | 3 | 6 |
Mar 2023
- 26
- 25
- Operating Profit
- 2
- OPM %
- 6
- Other Income
- 1
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 28
- Net Profit
- 1
- EPS
- 117
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 31
- 30
- Operating Profit
- 4
- OPM %
- 12
- Other Income
- 3
- Interest
- 0
- Depreciation
- 0
- 4
- Tax %
- 25
- Net Profit
- 3
- EPS
- 280
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2025
- 44
- 39
- Operating Profit
- 8
- OPM %
- 19
- Other Income
- 3
- Interest
- 0
- Depreciation
- 0
- 8
- Tax %
- 23
- Net Profit
- 6
- EPS
- 629
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
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:
- —
- 5 Years:
- —
- 3 Years:
- 52%
- Last Year:
- 66%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| LIABILITIES | - | - | - |
| 3 | 6 | 13 | |
| 0 | 27 | 20 | |
| Trade Payables | 6 | 10 | 7 |
| 24 | 2 | 4 | |
| Total Liabilities | 34 | 46 | 44 |
| ASSETS | - | - | - |
| 14 | 14 | 0 | |
| 1 | 9 | 2 | |
| 0 | 6 | 20 | |
| Cash & Bank | 6 | 1 | 5 |
| 13 | 16 | 16 | |
| Total Assets | 34 | 46 | 44 |
| Total Debt | 23 | 27 | 20 |
| Net Working Capital | 14 | -20 | -0 |
| Contingent Liabilities | 0 | 0 | 0 |
| Book Value per Share | 351.70 | 632.12 | 1261.42 |
| Face Value | 10.00 | 10.00 | 10.00 |
| Total Debt | 23 | 27 | 20 |
| Net Working Capital | 14 | -20 | -0 |
| Contingent Liabilities | 0 | 0 | 0 |
| Book Value per Share | 351.70 | 632.12 | 1261.42 |
| Face Value | 10.00 | 10.00 | 10.00 |
Mar 2023
- 3
- 0
- Trade Payables
- 6
- 24
- Total Liabilities
- 34
- 14
- 1
- 0
- Cash & Bank
- 6
- 13
- Total Assets
- 34
- Total Debt
- 23
- Net Working Capital
- 14
- Contingent Liabilities
- 0
- Book Value per Share
- 351.70
- Face Value
- 10.00
- Total Debt
- 23
- Net Working Capital
- 14
- Contingent Liabilities
- 0
- Book Value per Share
- 351.70
- Face Value
- 10.00
Mar 2024
- 6
- 27
- Trade Payables
- 10
- 2
- Total Liabilities
- 46
- 14
- 9
- 6
- Cash & Bank
- 1
- 16
- Total Assets
- 46
- Total Debt
- 27
- Net Working Capital
- -20
- Contingent Liabilities
- 0
- Book Value per Share
- 632.12
- Face Value
- 10.00
- Total Debt
- 27
- Net Working Capital
- -20
- Contingent Liabilities
- 0
- Book Value per Share
- 632.12
- Face Value
- 10.00
Mar 2025
- 13
- 20
- Trade Payables
- 7
- 4
- Total Liabilities
- 44
- 0
- 2
- 20
- Cash & Bank
- 5
- 16
- Total Assets
- 44
- Total Debt
- 20
- Net Working Capital
- -0
- Contingent Liabilities
- 0
- Book Value per Share
- 1261.42
- Face Value
- 10.00
- Total Debt
- 20
- Net Working Capital
- -0
- Contingent Liabilities
- 0
- Book Value per Share
- 1261.42
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 1 | -0 | -5 | |
| Cash from Investing | -0 | -6 | 17 |
| Cash from Financing | 0 | 5 | -7 |
| 0 | -2 | 4 | |
| Free Cash Flow | 1 | -0 | -5 |
| OCF / Net Profit | 0.48 | -0.17 | -0.81 |
| Cumulative 5-Year FCF | 0 | 0 | 0 |
| OCF / Net Profit | 0.48 | -0.17 | -0.81 |
| Cumulative 5-Year FCF | 0 | 0 | 0 |
Mar 2023
- 1
- Cash from Investing
- -0
- Cash from Financing
- 0
- 0
- Free Cash Flow
- 1
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
Mar 2024
- -0
- Cash from Investing
- -6
- Cash from Financing
- 5
- -2
- Free Cash Flow
- -0
- OCF / Net Profit
- -0.17
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.17
- Cumulative 5-Year FCF
- 0
Mar 2025
- -5
- Cash from Investing
- 17
- Cash from Financing
- -7
- 4
- Free Cash Flow
- -5
- OCF / Net Profit
- -0.81
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.81
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| PER SHARE | - | - | - |
| EPS (₹) | 116.88 | 280.42 | 629.30 |
| Book Value (₹) | 351.70 | 632.12 | 1261.42 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.09 | 2.56 | 5.71 |
| PROFITABILITY | - | - | - |
| Operating Margin % | 6.41% | 3.92% | 11.52% |
| Net Margin % | 4.47% | 8.92% | 14.40% |
| ROE % | 33.23% | 57.01% | 66.47% |
| ROCE % | 6.22% | 12.66% | 25.28% |
| 3.44% | 6.99% | 13.97% | |
| EFFICIENCY | - | - | - |
| Debtor Days | 66 | 62 | 110 |
| Inventory Days | 14 | 59 | 47 |
| Payable Days | 147 | 184 | 154 |
| -66 | -63 | 3 | |
| FINANCIAL HEALTH | - | - | - |
| Debt to Equity (x) | 6.47x | 4.33x | 1.61x |
| Interest Coverage (x) | 80.43x | 58.64x | 42.58x |
| 2.85x | 0.51x | 0.99x | |
| GROWTH | - | - | - |
| Revenue Growth % | 0.00% | 20.11% | 39.01% |
| Operating Profit Growth % | 0.00% | 128.52% | 120.84% |
| Net Profit Growth % | 0.00% | 139.92% | 124.41% |
| 0.00% | 139.92% | 124.41% | |
| VALUATION | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% |
| 0.00x | 6.99x | 1.82x |
Mar 2023
- EPS (₹)
- 116.88
- Book Value (₹)
- 351.70
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.09
- Operating Margin %
- 6.41%
- Net Margin %
- 4.47%
- ROE %
- 33.23%
- ROCE %
- 6.22%
- 3.44%
- Debtor Days
- 66
- Inventory Days
- 14
- Payable Days
- 147
- -66
- Debt to Equity (x)
- 6.47x
- Interest Coverage (x)
- 80.43x
- 2.85x
- 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 2024
- EPS (₹)
- 280.42
- Book Value (₹)
- 632.12
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.56
- Operating Margin %
- 3.92%
- Net Margin %
- 8.92%
- ROE %
- 57.01%
- ROCE %
- 12.66%
- 6.99%
- Debtor Days
- 62
- Inventory Days
- 59
- Payable Days
- 184
- -63
- Debt to Equity (x)
- 4.33x
- Interest Coverage (x)
- 58.64x
- 0.51x
- Revenue Growth %
- 20.11%
- Operating Profit Growth %
- 128.52%
- Net Profit Growth %
- 139.92%
- 139.92%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 6.99x
Mar 2025
- EPS (₹)
- 629.30
- Book Value (₹)
- 1261.42
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.71
- Operating Margin %
- 11.52%
- Net Margin %
- 14.40%
- ROE %
- 66.47%
- ROCE %
- 25.28%
- 13.97%
- Debtor Days
- 110
- Inventory Days
- 47
- Payable Days
- 154
- 3
- Debt to Equity (x)
- 1.61x
- Interest Coverage (x)
- 42.58x
- 0.99x
- Revenue Growth %
- 39.01%
- Operating Profit Growth %
- 120.84%
- Net Profit Growth %
- 124.41%
- 124.41%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 1.82x
Documents
Announcements
Nothing filed yet.
Annual Reports
Nothing filed yet.
Credit Ratings
Nothing filed yet.
Concalls
Jun 2026