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Dhani Services Overview

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 contr...Read More

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Dhani Services Key Financials

Market Cap ₹3372 Cr.

Stock P/E -49.8

P/B 1.1

Current Price ₹51.2

Book Value ₹ 44.7

Face Value 2

52W High ₹76.5

Dividend Yield 0%

52W Low ₹ 50.5

Dhani Services Share Price

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Volume
Price

Dhani Services Quarterly Price

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Dhani Services Peer Comparison

Dhani Services Quarterly Results

#(Fig in Cr.) Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
Operating Revenue 84 120 99 87 118 107 103 95 90 86
Other Income 30 5 14 20 17 22 11 14 46 11
Total Income 114 125 113 108 134 129 113 109 136 97
Total Expenditure 299 164 162 158 174 166 80 57 104 63
Operating Profit -184 -39 -49 -50 -40 -37 34 52 32 34
Interest Expense 30 26 24 22 21 18 17 15 13 12
Depreciation 17 18 16 14 14 13 6 6 6 6
Profit Before Tax -232 -83 -89 -87 -75 -68 10 31 13 16
Provision for Tax -34 11 15 2 10 15 6 26 7 9
Profit After Tax -198 -95 -105 -89 -85 -83 4 5 6 7
Adjustments 2 -0 -1 0 -1 1 12 -1 1 -0
Profit After Adjustments -196 -95 -105 -89 -86 -83 16 5 7 6
Adjusted Earnings Per Share -3.2 -1.6 -1.7 -1.5 -1.4 -1.4 0.3 0.1 0.1 0.1

Dhani Services Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Operating Revenue 335 376 409 980 2000 2915 1311 1434 609 423 395 374
Other Income 75 33 100 15 4 4 83 90 234 57 103 82
Total Income 410 410 510 995 2004 2919 1394 1525 843 479 498 455
Total Expenditure 142 162 201 478 756 1952 1001 2046 1090 657 416 304
Operating Profit 268 248 308 516 1247 967 393 -522 -247 -177 82 152
Interest Expense 61 148 139 224 591 824 518 284 170 94 65 57
Depreciation 13 23 24 12 27 116 84 95 91 63 30 24
Profit Before Tax 194 77 146 281 629 27 -209 -901 -508 -335 -14 70
Provision for Tax 43 3 44 71 169 -15 21 -40 -26 39 54 48
Profit After Tax 151 74 102 210 460 42 -230 -860 -481 -374 -68 22
Adjustments 0 0 0 0 -1 -38 5 -6 2 -1 13 12
Profit After Adjustments 151 74 102 210 459 4 -225 -866 -480 -375 -55 34
Adjusted Earnings Per Share 5.8 2.5 3.2 4.5 8.1 0.1 -3.9 -14.3 -7.9 -6.2 -0.9 0.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -7% -35% -33% 2%
Operating Profit CAGR 0% 0% -39% -11%
PAT CAGR 0% 0% NAN% NAN%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -18% 10% -23% 12%
ROE Average -2% -8% -9% 8%
ROCE Average 1% -3% -3% 5%

Dhani Services Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 330 332 466 1898 6426 5027 5182 5063 3814 3445 2836
Minority's Interest 0 0 0 0 149 560 430 208 56 15 41
Borrowings 331 392 1 2610 3964 3082 1826 833 727 529 449
Current Liability 1845 2060 1920 3236 5265 2639 2510 2303 622 476 369
Other Liabilities & Provisions 29 57 -4 -50 73 96 -29 -40 -443 -441 -596
Total Liabilities 2534 2840 2382 7693 15878 11405 9920 8367 4775 4024 3098
Loans 0 0 0 4091 11197 5231 4599 4097 1534 1638 1280
Investments 0 0 0 36 44 38 36 347 155 10 5
Fixed Assets 664 660 86 66 118 484 409 529 311 246 122
Other Loans 44 92 69 51 171 94 60 56 33 32 0
Other Non Current Assets 28 54 10 283 365 753 771 236 624 642 368
Current Assets 1798 2034 2217 3167 3984 4533 4046 3094 2109 1450 1319
Total Assets 2534 2840 2382 7693 15878 11405 9920 8367 4775 4024 3098

Dhani Services Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 164 561 690 73 1097 912 2011 1231 501 257 199
Cash Flow from Operating Activities -268 10 203 -2912 -7044 6040 925 -702 848 -231 98
Cash Flow from Investing Activities -331 -77 452 -537 -204 -856 -537 774 76 489 52
Cash Flow from Financing Activities 994 196 -247 4473 7062 -4093 -1168 -801 -1168 -318 -89
Net Cash Inflow / Outflow 396 129 408 1024 -185 1091 -780 -729 -245 -60 62
Closing Cash & Cash Equivalent 561 690 766 1097 912 2011 1231 502 257 199 265

Dhani Services Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.76 2.52 3.19 4.52 8.09 0.08 -3.93 -14.3 -7.89 -6.17 -0.9
CEPS(Rs) 6.27 3.3 3.94 4.78 8.59 3.09 -2.55 -12.63 -6.42 -5.12 -0.62
DPS(Rs) 3 3 1 0 1 3.25 0 0 0 0 0
Book NAV/Share(Rs) 11.85 11.08 13.99 39.47 111.9 96.76 89.7 82.08 62.46 56.53 44.83
Net Profit Margin 44.92 19.61 24.98 21.38 23.02 1.43 -17.53 -59.98 -79.09 -88.43 -17.14
Operating Margin 75.97 59.82 69.51 51.45 61.02 29.19 23.6 -43 -55.46 -56.79 13.04
PBT Margin 57.88 20.39 35.65 28.65 31.47 0.93 -15.92 -62.8 -83.41 -79.11 -3.54
ROA(%) 8.52 2.75 3.92 4.16 3.91 0.31 -2.16 -9.41 -7.32 -8.5 -1.9
ROE(%) 57.12 23.28 26.47 18.41 11.26 0.74 -4.56 -17.02 -10.97 -10.33 -2.19
ROCE(%) 19.48 10.15 12.9 11.45 11.14 6.74 3.27 -7.68 -5.59 -5.42 1.39
Price/Earnings(x) 6.08 5.73 18.23 53.6 40.21 1316.69 0 0 0 0 0
Price/Book(x) 2.95 1.3 4.16 6.14 2.91 1.12 1.88 0.76 0.43 0.67 1.27
Dividend Yield(%) 8.56 20.76 1.72 0 0.31 3.01 0 0 0 0 0
EV/Net Sales(x) 5.71 4.5 6.05 14.19 12.42 2.68 8.53 3.26 3.1 5.49 8.29
EV/Core EBITDA(x) 7.15 6.82 8.03 26.94 19.91 8.08 28.45 -8.96 -7.64 -13.08 40.12
Interest Earned Growth(%) 16.03 12.26 8.73 139.46 104.01 45.76 -55.02 9.41 -57.58 -30.51 -6.64
Net Profit Growth 48.25 -50.98 38.48 104.92 119.67 -90.92 -649.57 -274.45 44.06 22.31 81.91
EPS Growth(%) 31.13 -56.28 26.65 41.77 78.83 -98.99 -4886.48 -263.85 44.85 21.76 85.39
Interest Coverage(x) % 4.2 1.52 2.05 2.26 2.06 1.03 0.6 -2.17 -1.98 -2.55 0.79

Dhani Services Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 32.89 31.25 31.25 30.77 29.13 29.13 29.13 29.13 29.13 33.91
FII 14.14 14.38 14.27 14.63 16.6 19.21 20.98 22.06 20.77 18.67
DII 1.37 1.42 1.44 1.46 1.48 1.51 1.53 1.77 1.86 1.54
Public 51.6 52.95 53.03 53.14 52.79 50.15 48.36 47.04 48.23 45.88
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Dhani Services News

Dhani Services Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 33.91%.
  • Company has a low return on equity of -8% over the last 3 years.
  • Debtor days have increased from 272.17 to 2534.28days.
  • Earnings include an other income of Rs. 103 Cr.
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