Sharescart Research Club logo

Divyashakti Overview

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.

Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

Divyashakti Key Financials

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

Divyashakti Share Price

| |

Volume
Price

Divyashakti Quarterly Price

Show Value Show %

Divyashakti Quarterly Results

#(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

Divyashakti 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
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

Growth Rates

# 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%

Divyashakti 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 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

Divyashakti 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 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

Divyashakti 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) 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

Divyashakti Shareholding Pattern

# 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

Divyashakti News

Divyashakti Pros & Cons

Pros

  • Stock is trading at 0.4 times its book value
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 3% over the last 3 years.
  • Debtor days have increased from 69.18 to 95.61days.
  • The company has delivered a poor profit growth of -15% over past five years.
whatsapp