Dhani Services

₹46.4 1 | 2.1%

WEBSITE BSE:532960 NSE : DHANI 10 May, 16:01

Market Cap ₹2840 Cr.

Stock P/E -5.8

P/B 0.8

Current Price ₹46.4

Book Value ₹ 57.6

Face Value 2

52W High ₹56.8

Dividend Yield 0%

52W Low ₹ 29.9

Edit Ratio

Dhani Services Research see more...

Overview Inc. Year: 1995Industry: Finance - Stock Broking

Dhani Services Ltd offers digital healthcare and digital transactional finance via its Dhani app in India. The enterprise offers private loans, business installment loans, and so forth. Its e-pharmacy sells pharmaceutical products. It also provides month-to-month subscriptions for product offerings, inclusive of medical doctor consultancy, pharmacy, health365, one freedom card, credit, family health insurance and third party product distribution, and many others. In addition, the organisation gives card enabled prepaid payment application control and remittance offerings. Further, it engages within the provision of stock and commodity broking services; business of cross selling of real estate; and asset reconstruction commercial enterprise of stressed property. The company was formerly known as Indiabulls Ventures Ltd and changed its name to Dhani Services Ltd in October 2020. Dhani Services Ltd was founded in 1995 and is based totally in Mumbai, India.

Dhani Services Share Price

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Peer Comparison

Dhani Services Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Operating Revenue	335	490	305	246	130	148	84	120	99	87
Other Income	-1	12	17	28	53	20	30	5	14	20
Total Income	334	502	323	275	183	168	114	125	113	108
Total Expenditure	469	606	465	266	211	215	299	164	162	158
Operating Profit	-136	-104	-142	8	-28	-47	-184	-39	-49	-50
Interest Expense	71	59	62	59	42	35	30	26	24	22
Depreciation	22	25	27	29	28	17	17	18	16	14
Profit Before Tax	-228	-189	-232	-79	-98	-99	-232	-83	-89	-87
Provision for Tax	-22	29	13	25	-10	-7	-34	11	15	2
Profit After Tax	-206	-218	-244	-104	-87	-92	-198	-95	-105	-89
Adjustments	-2	-0	-4	3	-1	-2	2	-0	-1	0
Profit After Adjustments	-208	-218	-248	-101	-88	-94	-196	-95	-105	-89
Adjusted Earnings Per Share	-3.6	-3.6	-4.1	-1.7	-1.4	-1.6	-3.2	-1.6	-1.7	-1.5

Dhani Services Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	185	289	335	376	409	980	2000	2915	1312	1434	609	390
Other Income	24	20	75	33	100	15	4	4	82	90	234	69
Total Income	209	309	410	410	510	995	2004	2919	1394	1525	843	460
Total Expenditure	133	126	142	162	201	478	756	1952	1001	2046	1090	783
Operating Profit	76	183	268	248	308	516	1247	967	393	-522	-247	-322
Interest Expense	8	24	61	148	139	224	591	824	518	284	170	102
Depreciation	8	5	13	23	24	12	27	116	84	95	91	65
Profit Before Tax	61	154	194	77	146	281	629	27	-209	-901	-508	-491
Provision for Tax	-3	53	43	3	44	71	169	-15	21	-40	-26	-6
Profit After Tax	63	102	151	74	102	210	460	42	-230	-860	-481	-487
Adjustments	0	0	0	0	0	0	-1	-38	5	-6	2	1
Profit After Adjustments	63	102	151	74	102	210	459	4	-225	-866	-480	-485
Adjusted Earnings Per Share	2.7	4.4	5.8	2.5	3.2	4.5	8.1	0.1	-3.9	-14.3	-7.9	-8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-58%	-41%	-9%	13%
Operating Profit CAGR	0%	NAN%	NAN%	NAN%
PAT CAGR	0%	NAN%	NAN%	NAN%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	24%	-36%	-29%	9%
ROE Average	-11%	-11%	-4%	16%
ROCE Average	-6%	-3%	2%	11%

Dhani Services Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	218	237	330	332	466	1898	6426	5027	5182	5063	3814
Minority's Interest	0	0	0	0	0	0	149	560	430	208	56
Borrowings	1	1	331	392	1	2938	5863	4241	3161	2099	891
Current Liability	350	749	1845	2060	1920	2894	3532	1701	1317	1216	528
Other Liabilities & Provisions	13	16	29	57	-4	-37	-92	-124	-171	-218	-514
Total Liabilities	581	1003	2534	2840	2382	7693	15878	11405	9920	8367	4775
Loans	0	0	0	0	0	0	0	0	0	0	0
Investments	43	13	0	0	0	108	58	45	0	0	0
Fixed Assets	32	34	664	660	86	66	118	484	409	529	311
Other Loans	44	86	44	92	69	300	965	876	766	717	674
Other Non Current Assets	13	6	28	54	10	5	9	6	139	402	306
Current Assets	450	864	1798	2034	2217	7215	14728	9722	8607	6711	3476
Total Assets	581	1003	2534	2840	2382	7693	15878	11405	9920	8367	4775

Dhani Services Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	40	53	164	561	690	73	1097	912	2011	1231	501
Cash Flow from Operating Activities	-94	376	-268	10	203	-2912	-7044	6040	925	-702	848
Cash Flow from Investing Activities	66	145	-331	-77	452	-537	-204	-856	-537	774	76
Cash Flow from Financing Activities	40	-431	994	196	-247	4473	7062	-4093	-1168	-801	-1168
Net Cash Inflow / Outflow	13	91	396	129	408	1024	-185	1091	-780	-729	-245
Closing Cash & Cash Equivalent	53	164	561	690	766	1097	912	2011	1231	502	257

Dhani Services Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.74	4.4	5.76	2.52	3.19	4.52	8.09	0.08	-3.93	-14.3	-7.89
CEPS(Rs)	3.08	4.61	6.27	3.3	3.94	4.78	8.59	3.09	-2.55	-12.63	-6.42
DPS(Rs)	3	4	3	3	1	0	1	3.25	0	0	0
Book NAV/Share(Rs)	9.41	9.41	11.85	11.08	13.99	39.47	111.9	96.76	89.7	82.08	62.46
Net Profit Margin	34.17	35.16	44.92	19.61	24.98	21.38	23.02	1.43	-17.51	-59.98	-79.09
Operating Margin	36.99	61.46	75.97	59.82	69.51	51.45	61.02	29.19	23.58	-43	-55.46
PBT Margin	32.77	53.33	57.87	20.39	35.65	28.65	31.47	0.93	-15.9	-62.8	-83.41
ROA(%)	10.11	12.83	8.52	2.75	3.92	4.16	3.91	0.31	-2.15	-9.41	-7.32
ROE(%)	28	46.69	57.12	23.28	26.47	18.41	11.26	0.74	-4.56	-17.02	-10.97
ROCE(%)	21.89	37.04	19.48	10.15	12.9	11.45	11.14	6.74	3.27	-7.68	-5.59
Price/Earnings(x)	2.99	4.1	6.08	5.73	18.23	53.6	40.21	1316.69	0	0	0
Price/Book(x)	0.87	1.92	2.95	1.3	4.16	6.14	2.91	1.12	1.88	0.76	0.43
Dividend Yield(%)	36.63	22.16	8.56	20.76	1.72	0	0.31	3.01	0	0	0
EV/Net Sales(x)	0.58	1.69	5.71	4.5	6.05	14.19	12.38	2.68	8.52	3.26	3.1
EV/Core EBITDA(x)	1.4	2.67	7.15	6.82	8.03	26.93	19.85	8.09	28.43	-8.95	-7.64
Interest Earned Growth(%)	0.56	56.02	16.03	12.26	8.73	139.46	104.01	45.76	-54.98	9.31	-57.58
Net Profit Growth	717.25	60.53	48.25	-50.98	38.48	104.92	119.67	-90.92	-649.57	-274.45	44.06
EPS Growth(%)	717.32	60.57	31.13	-56.28	26.65	41.77	78.83	-98.99	-4886.48	-263.85	44.85
Interest Coverage(x) %	8.76	7.56	4.2	1.52	2.05	2.26	2.06	1.03	0.6	-2.17	-1.98

Dhani Services Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	30.05	33	33	33	32.89	32.89	32.89	31.25	31.25	30.77
FII	27.16	21.89	20.52	18.34	15.87	14.56	14.14	14.38	14.27	14.63
DII	1.41	1.4	1.42	1.43	1.44	1.37	1.37	1.42	1.44	1.46
Public	41.38	43.71	45.05	47.23	49.81	51.18	51.6	52.95	53.03	53.14
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	18.33	20.13	20.13	20.13	20.13	20.13	20.13	19.13	19.13	18.83
FII	16.56	13.35	12.52	11.19	9.72	8.91	8.66	8.8	8.74	8.96
DII	0.86	0.85	0.87	0.87	0.88	0.84	0.84	0.87	0.88	0.9
Public	25.24	26.66	27.48	28.81	30.49	31.33	31.59	32.41	32.46	32.53
Others	0	0	0	0	0	0	0	0	0	0
Total	60.99	60.99	60.99	60.99	61.21	61.21	61.21	61.21	61.21	61.21

Pros

Stock is trading at 0.8 times its book value
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 30.77%.
Company has a low return on equity of -11% over the last 3 years.
Debtor days have increased from 462.17 to 977.79days.
Earnings include an other income of Rs. 234 Cr.

* 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.