Dhani Services Ltd

₹ 64.6 -4.88%

21 Feb - close price

About

Dhani Services Ltd is primarily engaged in providing technology enabled subscription based healthcare and transaction finance services through its 'Dhani' App. It is also engaged in diverse business activities including Asset reconstruction, stock broking, etc.^[1]

Key Points

Service Offerings
Daily Needs Store: The Co. had originally launched Dhani Store as Dhani Pharmacy. To serve the diverse needs of consumers, it has expanded its product offerings to include electronics, personal care, daily household items, and groceries.
Payments Services: The Co.’s electronic wallet service allows customers to add money to their Dhani Wallet account from bank accounts, which can then be used to pay bills, mobile phone charges, gift vouchers, and book bus rides.
Trading Services: The Co. has a brokerage platform that offers trading services to customers at competitive prices. ^[1]

Website BSE NSE

Market Cap ₹ 3,900 Cr.
Current Price ₹ 64.6
High / Low ₹ 110 / 33.2
Stock P/E
Book Value ₹ 45.0
Dividend Yield 0.00 %
ROCE -5.16 %
ROE -10.1 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -25.8% over past five years.
Promoter holding is low: 29.1%
Company has a low return on equity of -12.8% over last 3 years.
Earnings include an other income of Rs.63.1 Cr.
Debtor days have increased from 58.1 to 70.5 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

Part of Nifty Microcap 250 BSE Allcap BSE Financial Services Nifty Total Market BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	489.87	305.46	246.38	130.16	147.69	84.29	119.60	98.58	87.11	117.56	107.37	102.63	94.91
	605.84	464.97	266.25	210.80	214.67	298.71	163.79	162.24	157.88	174.02	165.67	79.58	57.25
Operating Profit	-115.97	-159.51	-19.87	-80.64	-66.98	-214.42	-44.19	-63.66	-70.77	-56.46	-58.30	23.05	37.66
OPM %	-23.67%	-52.22%	-8.06%	-61.95%	-45.35%	-254.38%	-36.95%	-64.58%	-81.24%	-48.03%	-54.30%	22.46%	39.68%
	11.72	17.13	28.29	52.77	20.22	29.93	5.09	14.21	20.43	16.77	21.55	10.60	14.22
Interest	59.42	61.76	58.83	42.26	34.98	29.98	25.72	24.24	22.48	20.74	18.31	17.38	15.42
Depreciation	25.19	27.45	28.65	27.63	17.46	17.11	18.24	15.75	14.30	14.45	12.84	5.99	5.63
Profit before tax	-188.86	-231.59	-79.06	-97.76	-99.20	-231.58	-83.06	-89.44	-87.12	-74.88	-67.90	10.28	30.83
Tax %	15.23%	5.53%	31.44%	-10.70%	-6.78%	-14.66%	13.80%	17.33%	2.70%	13.53%	22.75%	59.14%	83.10%
	-217.61	-244.39	-103.91	-87.29	-92.47	-197.64	-94.52	-104.94	-89.46	-85.01	-83.35	4.19	5.22
EPS in Rs	-3.63	-4.13	-1.69	-1.46	-1.56	-3.25	-1.57	-1.75	-1.48	-1.42	-1.37	0.26	0.08
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	191	284	398	397	413	980	1,993	2,915	1,347	1,434	612	448	422
	122	119	140	162	201	478	750	1,952	963	1,986	968	650	477
Operating Profit	69	165	258	236	213	502	1,243	963	384	-551	-356	-202	-54
OPM %	36%	58%	65%	59%	51%	51%	62%	33%	29%	-38%	-58%	-45%	-13%
	7	18	10	12	96	15	4	4	9	29	109	24	63
Interest	8	24	61	148	139	224	591	824	518	284	170	94	72
Depreciation	8	5	13	23	24	12	27	116	84	95	91	63	39
Profit before tax	61	154	194	77	146	281	629	27	-209	-901	-508	-334	-102
Tax %	-4%	34%	22%	4%	30%	25%	27%	-55%	10%	-4%	-5%	12%
	63	102	151	74	102	210	460	42	-230	-860	-481	-374	-159
EPS in Rs	2.31	3.70	4.86	2.12	2.69	3.99	7.59	0.09	-4.27	-14.42	-7.95	-6.22	-2.45
Dividend Payout %	110%	18%	52%	119%	31%	22%	15%	3,836%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	-26%
3 Years:	-31%
TTM:	8%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-32%
TTM:	67%

Stock Price CAGR
10 Years:	5%
5 Years:	-21%
3 Years:	-5%
1 Year:	53%

Return on Equity
10 Years:	-3%
5 Years:	-8%
3 Years:	-13%
Last Year:	-10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	46	46	52	59	64	93	113	102	115	121	122	122	122
Reserves	171	190	278	273	402	1,806	6,312	4,925	5,068	4,942	3,692	3,324	2,590
	137	368	1,690	2,193	1,519	4,929	8,648	5,410	3,739	2,482	1,021	697	577
	191	214	405	196	231	930	942	1,129	1,200	1,079	479	379	471
Total Liabilities	546	818	2,425	2,720	2,215	7,758	16,015	11,566	10,121	8,624	5,314	4,521	3,760
	32	34	664	660	86	66	118	755	409	537	319	252	140
CWIP	1	0	11	36	8	5	9	6	6	7	4	0	0
Investments	43	32	69	0	163	499	638	634	1,420	588	510	55	88
	470	751	1,680	2,023	1,959	7,188	15,250	10,171	8,286	7,492	4,481	4,214	3,532
Total Assets	546	818	2,425	2,720	2,215	7,758	16,015	11,566	10,121	8,624	5,314	4,521	3,760

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-94	376	-268	10	203	-2,912	-7,044	6,040	925	-702	848	-231
	66	166	-330	-77	120	-537	-204	-848	-537	774	77	491
	40	-431	994	196	-247	4,473	7,062	-4,093	-1,168	-801	-1,168	-318
Net Cash Flow	13	112	397	129	76	1,024	-185	1,099	-780	-729	-244	-58

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	115	178	228	292	298	98	50	19	38	33	71	70
Inventory Days										240	1,558	3,482
Days Payable										284	124	273
Cash Conversion Cycle	115	178	228	292	298	98	50	19	38	-11	1,505	3,279
Working Capital Days	30	212	503	779	660	-103	143	169	185	232	774	873
ROCE %	22%	38%	19%	10%	12%	11%	11%	6%	3%	-7%	-5%	-5%

Shareholding Pattern

Numbers in percentages

2 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	33.00%	33.00%	33.01%	32.89%	32.89%	32.89%	31.26%	31.26%	30.77%	29.14%	29.14%	29.14%
	21.89%	20.52%	18.34%	15.87%	14.56%	14.14%	14.38%	14.27%	14.63%	16.60%	19.21%	20.98%
	1.40%	1.42%	1.43%	1.45%	1.38%	1.38%	1.43%	1.45%	1.47%	1.49%	1.52%	1.54%
	38.84%	40.18%	42.37%	44.96%	46.33%	46.74%	48.10%	48.20%	48.29%	47.95%	45.31%	43.51%
	4.87%	4.87%	4.87%	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%
No. of Shareholders	1,92,174	2,07,243	2,08,407	2,14,408	2,13,677	2,22,554	2,20,985	2,13,506	2,11,898	1,94,452	1,84,263	1,79,168

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	38.45%	35.89%	36.98%	31.91%	29.26%	33.00%	32.89%	30.77%	29.14%
	1.50%	18.12%	25.83%	26.10%	26.97%	21.89%	14.56%	14.63%	20.98%
	0.24%	0.14%	0.03%	0.05%	1.40%	1.40%	1.38%	1.47%	1.54%
	59.81%	45.85%	37.16%	40.04%	39.14%	38.84%	46.33%	48.29%	43.51%
	0.00%	0.00%	0.00%	1.90%	3.23%	4.87%	4.85%	4.85%	4.85%
No. of Shareholders	87,814	79,876	80,537	83,235	83,134	1,92,174	2,13,677	2,11,898	1,79,168

* 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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