WEBSITE BSE:526315 NSE: DIVSHKT Inc. Year: 1991 Industry: Ceramics/Marble/Granite/Sanitaryware My Bucket: Add Stock
Last updated: 11:20
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1. Business Overview
Divyashakti Ltd. operates in the Ceramics, Marble, Granite, and Sanitaryware sector in India. The company is primarily involved in the manufacturing, processing, and/or trading of products within these categories. Its core business model involves sourcing raw materials (e.g., clay for ceramics, stone blocks for marble/granite), processing or manufacturing finished goods, and then distributing and selling these products. Revenue is generated through the sale of ceramic tiles, various types of processed marble and granite, and sanitaryware products to a diverse customer base, which typically includes individual homeowners, real estate developers, contractors, and institutional buyers, likely through a network of distributors and retailers.
2. Key Segments / Revenue Mix
Based on the sector description, Divyashakti Ltd.'s key segments likely include:
Ceramic Tiles: Manufacturing and sale of floor and wall tiles.
Marble & Granite: Processing and sale of natural stone slabs, tiles, and custom cut-to-size products.
Sanitaryware: Manufacturing and/or trading of bathroom fittings and fixtures.
Specific revenue contribution from each of these segments is not available from the provided information.
3. Industry & Positioning
The Indian Ceramics, Marble, Granite, and Sanitaryware industry is highly competitive and fragmented, characterized by the presence of large organized players, numerous medium-sized enterprises, and a significant unorganized sector. The industry's performance is closely linked to the health of the real estate, housing, and construction sectors. Divyashakti Ltd. operates within this dynamic landscape. Without specific market share data or financial figures, its exact positioning relative to industry leaders (e.g., Kajaria Ceramics, Cera Sanitaryware, Somany Ceramics) is not clear, but it operates as a participant in a sector driven by construction demand and consumer preferences for home aesthetics.
4. Competitive Advantage (Moat)
Without specific company details, identifying a durable competitive advantage (moat) for Divyashakti Ltd. is challenging. Potential moats in this industry could include:
Brand Recognition: A strong, trusted brand could command premium pricing and customer loyalty, especially in the B2C segment.
Economies of Scale: Large manufacturing capacities can lead to lower per-unit production costs.
Distribution Network: An extensive and efficient dealer and distributor network can ensure wide product reach.
Cost Efficiency: Superior sourcing of raw materials or lean manufacturing processes can provide a cost advantage.
Divyashakti may possess some of these characteristics, but the presence of a strong, durable moat is not explicitly verifiable from the given data.
5. Growth Drivers
Urbanization and Housing Demand: Continued growth in urban population and government initiatives like "Housing for All" will drive demand for new homes and renovation projects.
Infrastructure Development: Investment in commercial spaces, public infrastructure, and retail will create demand for building materials.
Rising Disposable Incomes: Increased consumer spending power often translates into demand for higher-quality and aesthetically appealing home finishing products.
Product Innovation & Design: Introduction of new designs, sizes, and technological advancements (e.g., vitrified tiles, anti-bacterial sanitaryware) can stimulate demand.
Replacement Market: The cyclical need for renovation and replacement in existing homes and commercial properties provides a consistent demand base.
6. Risks
Cyclicality of Real Estate: The company's performance is highly sensitive to downturns in the real estate and construction sectors.
Raw Material Price Volatility: Fluctuations in prices of key raw materials (e.g., clay, feldspar, quartz, natural stone blocks) and fuel costs (natural gas, coal) can impact profit margins.
Intense Competition: The presence of both large organized players and unorganized local manufacturers leads to price wars and pressure on margins.
Regulatory Changes: Changes in environmental regulations, import duties, or GST rates can affect operations and profitability.
Demand Slowdown: Economic slowdowns or reduced consumer spending can dampen demand for discretionary home improvement products.
Working Capital Management: Efficient management of inventory and receivables is crucial in this capital-intensive industry.
7. Management & Ownership
Information regarding the specific promoters, key management personnel's background, and detailed ownership structure (e.g., promoter holding percentage, institutional holding) is not provided in the input. Typically, for publicly listed companies in India, promoter groups hold a significant stake, alongside institutional investors and public shareholders. The quality of management would usually be assessed based on track record, corporate governance practices, and strategic execution.
8. Outlook
Divyashakti Ltd. operates in a sector with structural tailwinds driven by India's urbanization, housing demand, and growing middle class, presenting significant growth opportunities. The increasing preference for branded, quality products over unorganized alternatives could also benefit established players. However, the company faces inherent challenges including the cyclical nature of the real estate market, intense competition, and volatility in raw material and energy costs. Its ability to capitalize on growth will depend on effective cost management, continuous product innovation, strengthening its distribution network, and navigating competitive pressures efficiently. While the long-term outlook for the sector remains positive, Divyashakti's performance will be a function of its strategic execution and adaptability within a dynamic and competitive market.
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Market Cap ₹50 Cr.
Stock P/E 19.8
P/B 0.4
Current Price ₹49
Book Value ₹ 121.9
Face Value 10
52W High ₹75
Dividend Yield 4.08%
52W Low ₹ 44.5
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 20 | 18 | 16 | 11 | 16 | 19 | 18 | 15 | 7 | 4 |
| Other Income | 2 | 0 | 1 | 1 | 1 | 3 | 0 | 0 | 1 | 1 |
| Total Income | 21 | 19 | 17 | 12 | 17 | 22 | 18 | 15 | 8 | 5 |
| Total Expenditure | 19 | 18 | 16 | 11 | 15 | 19 | 17 | 13 | 8 | 4 |
| Operating Profit | 2 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 1 | 0 | 0 | 1 | 2 | 1 | 1 | -0 | 0 |
| Provision for Tax | 1 | 0 | -0 | 0 | 0 | 1 | 0 | 0 | 0 | -0 |
| Profit After Tax | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | -0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 |
| Profit After Adjustments | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | -0 | 0 |
| Adjusted Earnings Per Share | 1 | 0.4 | 0.5 | 0.2 | 0.5 | 1.2 | 0.5 | 0.9 | -0.1 | 0.1 |
| #(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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 63 | 68 | 108 | 69 | 33 | 60 | 57 | 64 | 76 | 70 | 64 | 44 |
| Other Income | 7 | 5 | 1 | 2 | 5 | 7 | 0 | 3 | 8 | 3 | 4 | 2 |
| Total Income | 70 | 74 | 109 | 71 | 38 | 68 | 57 | 67 | 84 | 73 | 68 | 46 |
| Total Expenditure | 54 | 57 | 93 | 63 | 30 | 55 | 46 | 55 | 70 | 67 | 62 | 42 |
| Operating Profit | 16 | 16 | 16 | 8 | 9 | 12 | 11 | 12 | 14 | 6 | 6 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 15 | 15 | 15 | 7 | 7 | 10 | 8 | 9 | 11 | 3 | 3 | 2 |
| Provision for Tax | 5 | 5 | 5 | 3 | 2 | 2 | 2 | 2 | 3 | 1 | 1 | 0 |
| Profit After Tax | 9 | 10 | 9 | 5 | 5 | 7 | 6 | 7 | 8 | 2 | 3 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 9 | 10 | 9 | 5 | 5 | 7 | 6 | 7 | 8 | 2 | 3 | 1 |
| Adjusted Earnings Per Share | 9.1 | 9.9 | 9.2 | 4.7 | 5 | 7.3 | 6.1 | 7 | 7.6 | 2.3 | 2.5 | 1.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -9% | 0% | 1% | 0% |
| Operating Profit CAGR | 0% | -21% | -13% | -9% |
| PAT CAGR | 50% | -25% | -16% | -10% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -27% | -14% | 0% | -5% |
| ROE Average | 2% | 3% | 4% | 7% |
| ROCE Average | 3% | 5% | 6% | 10% |
| #(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 | 77 | 86 | 95 | 98 | 102 | 107 | 112 | 118 | 123 | 124 | 198 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Total Current Liabilities | 23 | 25 | 12 | 21 | 26 | 18 | 15 | 12 | 12 | 17 | 20 |
| Total Liabilities | 102 | 112 | 108 | 121 | 130 | 127 | 129 | 132 | 138 | 143 | 221 |
| Fixed Assets | 7 | 6 | 8 | 7 | 31 | 32 | 30 | 30 | 28 | 25 | 97 |
| Other Non-Current Assets | 0 | 0 | 1 | 11 | 6 | 1 | 1 | 0 | 0 | 0 | 0 |
| Total Current Assets | 94 | 105 | 99 | 102 | 93 | 94 | 98 | 102 | 110 | 118 | 124 |
| Total Assets | 102 | 112 | 108 | 121 | 130 | 127 | 129 | 132 | 138 | 143 | 221 |
| #(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 | 26 | 38 | 52 | 38 | 14 | 25 | 11 | 15 | 11 | 7 | 9 |
| Cash Flow from Operating Activities | 14 | 12 | -8 | 3 | 17 | -16 | 10 | 2 | -9 | -2 | -4 |
| Cash Flow from Investing Activities | -0 | 4 | -3 | -25 | -5 | 3 | -5 | -5 | 7 | 1 | 1 |
| Cash Flow from Financing Activities | -2 | -2 | -2 | -2 | -2 | -2 | -2 | -1 | -2 | 2 | -4 |
| Net Cash Inflow / Outflow | 12 | 14 | -13 | -24 | 11 | -15 | 4 | -4 | -4 | 1 | -8 |
| Closing Cash & Cash Equivalent | 38 | 52 | 38 | 14 | 25 | 11 | 15 | 11 | 7 | 9 | 1 |
| # | 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) | 9.14 | 9.87 | 9.23 | 4.69 | 5.01 | 7.28 | 6.14 | 6.96 | 7.62 | 2.26 | 2.47 |
| CEPS(Rs) | 10.16 | 10.94 | 10.32 | 5.32 | 6.56 | 9.45 | 8.43 | 9.3 | 10.08 | 4.63 | 4.83 |
| DPS(Rs) | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 0 | 2 | 2 | 2 |
| Book NAV/Share(Rs) | 75.69 | 83.5 | 92.89 | 95.79 | 98.95 | 104.37 | 109.03 | 114.49 | 120.2 | 120.45 | 120.95 |
| Core EBITDA Margin(%) | 13.74 | 16.01 | 13.81 | 8.49 | 11.57 | 8.25 | 18.75 | 13.28 | 7.45 | 4.24 | 2.35 |
| EBIT Margin(%) | 23.12 | 22.26 | 13.71 | 11.04 | 20.88 | 16.82 | 14.99 | 14.98 | 14.69 | 4.85 | 5.58 |
| Pre Tax Margin(%) | 23.01 | 22.18 | 13.55 | 10.86 | 20.41 | 16.54 | 14.86 | 14.89 | 14.58 | 4.62 | 5.31 |
| PAT Margin (%) | 14.81 | 14.65 | 8.74 | 7.02 | 15.41 | 12.43 | 11.08 | 11.25 | 10.36 | 3.33 | 3.97 |
| Cash Profit Margin (%) | 16.47 | 16.24 | 9.78 | 7.97 | 20.18 | 16.14 | 15.21 | 15.02 | 13.7 | 6.81 | 7.77 |
| ROA(%) | 9.43 | 9.49 | 8.61 | 4.2 | 4.11 | 5.83 | 4.93 | 5.47 | 5.79 | 1.65 | 1.39 |
| ROE(%) | 12.68 | 12.42 | 10.46 | 4.97 | 5.15 | 7.16 | 5.75 | 6.23 | 6.5 | 1.88 | 2.05 |
| ROCE(%) | 19.8 | 18.87 | 16.4 | 7.81 | 6.97 | 9.67 | 7.77 | 8.28 | 9.19 | 2.69 | 2.81 |
| Receivable days | 168.43 | 149.14 | 122.32 | 255 | 524.78 | 351.76 | 450.4 | 391.81 | 387.76 | 499.43 | 608.48 |
| Inventory Days | 58.31 | 39.64 | 33.2 | 67.45 | 162.75 | 79.68 | 53.98 | 58.29 | 48.38 | 38 | 35.14 |
| Payable days | 40.76 | 34.93 | 33.94 | 103.05 | 492.02 | 169.73 | 137.9 | 105.22 | 79.72 | 69.18 | 95.61 |
| PER(x) | 5.47 | 7.46 | 13.55 | 17.96 | 19.15 | 3.14 | 7.8 | 9.62 | 9.27 | 33.29 | 25.78 |
| Price/Book(x) | 0.66 | 0.88 | 1.35 | 0.88 | 0.97 | 0.22 | 0.44 | 0.59 | 0.59 | 0.62 | 0.53 |
| Dividend Yield(%) | 3 | 2.04 | 1.2 | 1.78 | 1.56 | 6.56 | 3.13 | 0 | 2.83 | 2.66 | 3.14 |
| EV/Net Sales(x) | 0.13 | 0.32 | 0.81 | 1.02 | 2.09 | 0.19 | 0.51 | 0.77 | 0.85 | 1.03 | 1.03 |
| EV/Core EBITDA(x) | 0.53 | 1.34 | 5.5 | 8.51 | 8.15 | 0.94 | 2.68 | 4.12 | 4.73 | 12.39 | 10.96 |
| Net Sales Growth(%) | 3.58 | 8.45 | 58.66 | -36.69 | -51.3 | 80 | -5.39 | 11.75 | 18.82 | -7.63 | -8.46 |
| EBIT Growth(%) | -4.31 | 5.54 | -3.53 | -49.05 | -7.88 | 44.99 | -15.67 | 11.67 | 16.57 | -69.53 | 5.45 |
| PAT Growth(%) | -5.5 | 8.46 | -6.52 | -49.18 | 6.91 | 45.17 | -15.7 | 13.48 | 9.48 | -70.36 | 9.29 |
| EPS Growth(%) | -4.83 | 8.03 | -6.52 | -49.18 | 6.91 | 45.17 | -15.7 | 13.48 | 9.48 | -70.36 | 9.29 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0.02 |
| Current Ratio(x) | 4.03 | 4.16 | 8.12 | 4.8 | 3.52 | 5.27 | 6.66 | 8.62 | 9.39 | 7 | 6.11 |
| Quick Ratio(x) | 3.7 | 3.86 | 7.11 | 4.18 | 2.89 | 4.74 | 6.17 | 7.52 | 8.79 | 6.56 | 5.87 |
| Interest Cover(x) | 217.31 | 294.37 | 88.28 | 61.38 | 44.85 | 60.52 | 113.53 | 167.33 | 128.9 | 21.82 | 20.24 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.01 | 0 | 0.05 | 0.03 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.8 | 74.8 | 74.8 | 74.8 | 74.8 | 73.2 | 73.2 | 73.2 | 73.2 | 74.95 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.2 | 25.2 | 25.2 | 25.2 | 25.2 | 26.8 | 26.8 | 26.8 | 26.8 | 25.05 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.75 | 0.75 | 0.75 | 0.75 | 0.77 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.28 | 0.28 | 0.28 | 0.28 | 0.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 |
* The pros and cons are machine generated.
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