Delphi World Money Ltd

₹ 154 -2.01%

28 Feb - close price

weizmannforex.com BSE: 533452 NSE: DELPHIFX

About

Incorporated in 1985, Delphi World Money
Ltd is in the business of Foreign Exchange services and related activities^[1]

Key Points

Business Overview:^[1]^[2]
DWML is an RBI-licensed Authorised Dealer Category II-Money Changer. It is a Foreign Exchange Services company that provides customized and integrated financial solutions relating to money changers, principal agents for leading remittance services companies, distribution of third-party financial products, and other travel and tourism-related services needs of its corporate and retail clients.

Website BSE NSE - BE

Market Cap ₹ 171 Cr.
Current Price ₹ 154
High / Low ₹ 376 / 154
Stock P/E 12.3
Book Value ₹ 203
Dividend Yield 0.00 %
ROCE 11.5 %
ROE 7.47 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.76 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -59.7% over past five years.
Company has a low return on equity of 6.48% over last 3 years.
Contingent liabilities of Rs.127 Cr.
Earnings include an other income of Rs.6.47 Cr.
Company has high debtors of 220 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	14.86	14.12	20.89	20.74	21.53	23.22	22.57	21.22	21.36	15.51	15.28	14.29	12.58
	14.52	14.65	17.47	18.30	19.71	19.53	18.74	18.81	19.23	14.54	14.13	18.22	13.23
Operating Profit	0.34	-0.53	3.42	2.44	1.82	3.69	3.83	2.41	2.13	0.97	1.15	-3.93	-0.65
OPM %	2.29%	-3.75%	16.37%	11.76%	8.45%	15.89%	16.97%	11.36%	9.97%	6.25%	7.53%	-27.50%	-5.17%
	2.64	3.36	2.75	2.96	2.93	4.48	3.15	4.44	4.30	4.58	4.50	5.07	-7.68
Interest	0.77	0.37	0.65	0.67	0.55	0.25	0.33	0.57	0.66	0.68	0.71	0.86	0.76
Depreciation	0.24	0.52	0.25	0.25	0.15	0.26	0.21	0.25	0.21	0.23	0.20	0.18	0.50
Profit before tax	1.97	1.94	5.27	4.48	4.05	7.66	6.44	6.03	5.56	4.64	4.74	0.10	-9.59
Tax %	48.22%	55.67%	29.60%	15.85%	40.74%	32.64%	29.81%	35.16%	39.93%	26.08%	24.68%	-60.00%	-39.21%
	1.02	0.87	3.71	3.77	2.41	5.15	4.52	3.90	3.34	3.43	3.57	0.17	-5.83
EPS in Rs	0.92	0.78	3.33	3.39	2.17	4.63	4.06	3.50	3.00	3.08	3.21	0.15	-5.24
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	4,469.49	4,694.84	4,464.43	4,786.80	5,992.40	7,696.00	9,163.53	180.93	117.85	72.50	97.74	96.95	57.66
	4,428.33	4,649.14	4,419.95	4,737.17	5,940.20	7,636.52	9,200.57	75.78	53.50	54.42	74.57	69.82	60.12
Operating Profit	41.16	45.70	44.48	49.63	52.20	59.48	-37.04	105.15	64.35	18.08	23.17	27.13	-2.46
OPM %	0.92%	0.97%	1.00%	1.04%	0.87%	0.77%	-0.40%	58.12%	54.60%	24.94%	23.71%	27.98%	-4.27%
	6.43	0.36	1.79	2.73	-0.33	3.88	10.45	-0.16	0.47	0.88	1.78	-0.97	6.47
Interest	13.15	12.92	11.43	12.56	10.86	6.81	4.43	12.17	5.51	3.67	2.58	2.60	3.01
Depreciation	4.48	4.46	5.48	4.70	4.57	4.45	2.73	32.40	1.34	1.33	0.91	0.90	1.11
Profit before tax	29.96	28.68	29.36	35.10	36.44	52.10	-33.75	60.42	57.97	13.96	21.46	22.66	-0.11
Tax %	31.71%	36.23%	36.55%	37.66%	36.80%	34.47%	-59.64%	35.14%	29.64%	43.34%	29.92%	32.92%
	20.46	18.28	18.63	21.87	23.02	34.14	-13.64	39.19	40.78	7.92	15.04	15.19	1.34
EPS in Rs	17.69	15.81	16.11	18.91	19.91	29.52	-12.26	35.22	36.65	7.12	13.52	13.65	1.20
Dividend Payout %	42.38%	47.43%	46.54%	39.64%	15.07%	3.39%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%

Compounded Sales Growth
10 Years:	-32%
5 Years:	-60%
3 Years:	-6%
TTM:	-35%

Compounded Profit Growth
10 Years:	-1%
5 Years:	66%
3 Years:	-27%
TTM:	-18%

Stock Price CAGR
10 Years:	-6%
5 Years:	-15%
3 Years:	-31%
1 Year:	-39%

Return on Equity
10 Years:	14%
5 Years:	13%
3 Years:	6%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	11.56	11.56	11.56	11.56	11.56	11.56	11.13	11.13	11.13	11.13	11.13	11.13	11.13
Reserves	61.92	69.99	77.53	88.96	124.97	175.06	93.56	132.35	173.03	180.87	195.57	210.56	214.26
	91.88	144.17	85.46	77.58	63.11	118.90	55.95	75.22	33.36	31.28	0.62	30.97	40.86
	99.34	109.02	96.71	89.98	101.75	102.62	132.48	40.45	74.18	78.58	99.04	67.40	64.68
Total Liabilities	264.70	334.74	271.26	268.08	301.39	408.14	293.12	259.15	291.70	301.86	306.36	320.06	330.93
	49.70	46.54	41.50	38.46	38.51	38.59	7.92	54.85	5.43	3.93	3.40	2.52	2.67
CWIP	-0.00	-0.00	-0.00	-0.00	-0.00	0.23	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Investments	5.57	27.22	26.15	28.84	53.76	80.49	0.38	0.38	0.27	-0.00	-0.00	-0.00	-0.00
	209.43	260.98	203.61	200.78	209.12	288.83	284.82	203.92	286.00	297.93	302.96	317.54	328.26
Total Assets	264.70	334.74	271.26	268.08	301.39	408.14	293.12	259.15	291.70	301.86	306.36	320.06	330.93

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	40.83	-3.28	71.85	13.33	24.10	64.75	-5.64	22.66	31.58	28.76	39.78	-33.84
	-1.48	-20.52	-1.01	-9.36	-8.37	19.29	16.48	-5.42	-1.53	-26.92	-17.51	-15.04
	-56.87	52.11	-68.43	-28.32	-14.19	-10.75	-43.28	-72.80	0.88	-5.35	-32.61	28.16
Net Cash Flow	-17.52	28.31	2.41	-24.34	1.54	73.29	-32.44	-55.56	30.93	-3.51	-10.34	-20.72

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	6.69	10.27	6.55	6.47	5.87	2.83	1.26	24.79	164.74	245.13	172.57	219.87
Inventory Days	1.83	1.53	0.90	1.12	1.49	1.18	1.23
Days Payable	4.96	5.04	4.56	4.41	3.63	2.18	2.28
Cash Conversion Cycle	3.56	6.76	2.89	3.18	3.73	1.84	0.21	24.79	164.74	245.13	172.57	219.87
Working Capital Days	5.40	5.72	2.29	4.40	4.32	1.16	2.29	227.01	420.35	772.59	584.58	812.22
ROCE %	23.95%	21.27%	20.68%	27.02%	25.61%	23.28%	-5.97%	38.58%	29.18%	8.02%	11.17%	11.48%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	89.62%	89.55%	89.55%	89.55%	89.55%	89.55%	89.55%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.96%	0.00%	0.00%	0.00%	0.00%
	10.38%	10.45%	10.44%	10.44%	10.45%	10.44%	10.44%	23.02%	24.99%	24.99%	25.00%	24.87%
No. of Shareholders	8,570	8,621	8,534	8,260	8,239	8,002	8,089	10,492	11,034	11,233	10,470	9,711

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	74.77%	74.77%	74.84%	89.94%	89.94%	89.62%	89.55%	75.00%	75.00%
	0.00%	0.66%	2.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.01%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%
	25.23%	24.56%	22.95%	10.06%	10.06%	10.38%	10.45%	24.99%	24.87%
No. of Shareholders	8,213	10,235	8,612	7,793	7,793	8,570	8,239	11,034	9,711

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Aug 2018

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