SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Dhani Services Ltd. - (Amalgamated) (DHANI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532960 NSE: DHANI Finance - Stock Broking | Small Cap | Dhani Amalagamtion Share Price

₹51.20 0.00 (0.00%)

As on 27-Oct'25 16:59

Dhani Services Ltd. - (Amalgamated) (DHANI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532960 NSE: DHANI Finance - Stock Broking | Small Cap | Dhani Amalagamtion Share Price

₹51.20 0.00 (0.00%)

As on 27-Oct'25 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,372 Cr.
Current Price
₹51.2
52-Week Low / High
₹50 / 72
TTM EPS
₹-0.8
TTM Sales
₹22.7 Cr.
Book Value per Share
₹89.6
P/E Ratio
0.00
Industry PE
51.1
Price to Book (P/B)
0.57
Lower than its 5-year historical median
Price to Sales (P/S)
148.52
Higher than its 5-year historical median
EV/EBITDA
-354.23
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-0.86%
Return on Capital Employed (ROCE)
-0.09%
Return on Assets (ROA)
-0.78%
Operating Profit Margin
-27%
Net Profit Margin
-204.97%
Gross Profit Margin
-212.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-74.22%
Operating Profit Growth (1 Year)
-
-108.45%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
33.91%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹5,765 Cr.
Equity
₹131.7 Cr.
Face Value
₹2
All Time Low / High
₹5.01 / 819.95

Dhani Services . - (Amalgamated) stock performance

Key Ratios
mw4me loader

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dhani Services Ltd. - (Amalgamated) has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 9.1%12.2%7.2%3%5.2%0.5%0.5%1.7%0.9%-0.1%-
Value Creation
Index
-0.4-0.1-0.5-0.8-0.6-1.0-1.0-0.9-0.9-1.0-

Growth Parameters

Sales 76.383.618414830630.444.510792.723.923
Sales YoY Gr.-9.5%120.7%-20%107.1%-90.1%46.8%139.4%-13%-74.2%-
Adj EPS 0.61.51.11.44.8-0.3-0.40.4-0.2-0.8-0.8
YoY Gr.-153.5%-28.6%29.5%255.2%-106%NANA-158.5%NA-
BVPS (₹) 6.98.433.51019087.394.394.594.593.789.6
Adj Net
Profit
16.947.148.677.4247-16.8-24.725.1-14.4-49-52
Cash Flow from Ops. 37.59.9-130189149-41.133.760.7-11930.1-
Debt/CF from Ops. 15.861.2-7.62.82.5-10.115.69.5-4.114.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -12.1%-39.9%-18.7%-74.2%
Adj EPS -203.8%-170%NANA
BVPS33.6%0.8%-0.2%-0.9%
Share Price 6.8% -21.8% 15.8% -25.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.5205.32.14.8-0.4-0.50.4-0.3-0.9-0.9
Op. Profit
Mgn %
53.343.15888.795.280.456.9100.282.6-27-50.2
Net Profit
Mgn %
22.156.326.352.480.7-55.2-55.523.6-15.5-205-229.2
Debt to
Equity
2.92.30.60.10.10.10.10.10.10.1-
Working Cap
Days
70978631528410241023910012530053,174
Cash Conv.
Cycle
1571487336-60-624-83169-4-749,317

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Income + 104.52151.93204.38152.56310.0235.3946.86109.2995.4225.07
Interest Income76.3483.60184.46147.65305.7730.3544.54106.6392.7423.91
Other Income 13.737.330.941.084.109.020.546.5413.60
Exceptional Items 28.1868.3319.924.914.265.042.322.662.681.17
Expenditure + 78.3992.65138.9058.605343.2364.5854.4868.1776.01
Interest Expense 40.1543.4159.7241.7038.1034.7145.1754.4151.7745.49
Operating Expenses 37.2345.5071.8615.9613.824.4210.40-0.479.8616.92
Provisions 13.737.330.941.084.109.020.546.5413.60
Exceptional Items 00000000-22.670
Profit Before Tax 26.1359.2865.4893.96257.02-7.84-17.7254.824.58-50.93
Taxes 9.2712.1816.9116.5610.148.916.9929.6818.96-1.93
Profit After Tax 16.8747.0948.5777.40246.88-16.75-24.7125.14-14.38-49.01
Adjusted EPS (₹)0.61.51.11.44.8-0.3-0.40.4-0.2-0.8
Dividend Payout Ratio (%)520.90%68%0%73.30%67.30%0%0%0%0%0%

Valuation of Dhani Amalagamtion - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Equity Capital +201.87268.211,584.305,805.084,679.885,044.815,803.215,768.805,755.225,706.98
Share Capital 58.5764.0492.63113.49102.22114.54121.19121.64121.64121.64
Reserves 143.29204.171,491.685,691.594,577.664,930.275,682.025,647.165,633.595,585.34
Short term borrowings590.39605.83831.52495.88173.340.11175250.8512.8913.27
Long Term Borrowings4.88-4.41149.71-32.44141.78362.42306.85312.37481.87432.85
Current Liabilities 722.62858.18966.61668.27207.856.63182.27258.0216.8418.39
Trade Payables0.462.777.072.973.020.143.410.080.070.43
Other Liabilities-590.85-591.12-801.62-498.86-176.36-0.25-178.41-250.93-12.9687.89
Total Liabilities 929.371,139.462,737.606,440.905,029.515,413.876,292.336,339.196,253.936,259.81

Assets

Non Current Asset +28.6280.451,489.555,147.834,945.995,275.376,230.296,297.686,230.206,202.28
Loan Asset 0094.61694.78134.40434.861,251.471,384.36421.79265.47
Other Non Current Asset 28.6280.451,394.934,453.054,811.594,840.514,978.814,913.325,808.415,936.81
Current Asset +900.751,059.011,248.051,293.0783.52138.4962.0441.5123.7357.53
Current Investment00000000031.64
Other Current Asset900.751,059.011,248.051,293.0783.52138.4962.0441.5123.7325.89
Total Assets 929.371,139.462,737.606,440.905,029.515,413.876,292.336,339.196,253.936,259.81

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 37.479.90-130.08189.35148.89-41.1333.7060.67-118.7630.08
Cash Flow From Investing Activity 46.58-10.74-1,238.84-3,655.56473.01-336.69-892.18-122.47183.42-85.93
Cash Flow From Financing Activity 65.4443.061,620.333,445.54-1,559.75503.31837.8941.50-82.6056.31
Net Cash Flow 149.4942.22251.40-20.68-937.85125.49-20.59-20.31-17.940.47

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Operational & Financial Ratios

EPS (₹)0.601.501.101.404.80-0.30-0.400.40-0.20-0.80
DPS (₹)31013.3000000
BVPS (₹)6.98.433.51019087.394.394.594.593.7

Performance Ratios

ROA (%)2.04.62.51.74.3-0.3-0.40.4-0.2-0.8
ROE (%)7.520.05.32.14.8-0.4-0.50.4-0.3-0.9
ROCE (%)9.112.27.23.05.20.50.51.70.9-0.1

Valuation Parameters

Price/Book(x)2.16.97.23.21.21.90.70.30.40.6

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dhani Services Ltd. - (Amalgamated) FAQs

The current trading price of Dhani Amalagamtion on 27-Oct-2025 16:59 is ₹51.20.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 26-Oct-2025 the market cap of Dhani Amalagamtion stood at ₹3,371.6 Cr

The latest P/E ratio of Dhani Amalagamtion as of 26-Oct-2025 is 0.00.

The latest P/B ratio of Dhani Amalagamtion as of 26-Oct-2025 is 0.57.

The 52-week high of Dhani Amalagamtion is ₹71.56 and the 52-week low is ₹50.45.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dhani Amalagamtion is ₹22.70 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dhani Services Ltd. - (Amalgamated) is a average quality company.

The key valuation ratios of Dhani Services Ltd. - (Amalgamated)'s currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

No data found

About Dhani Services Ltd. - (Amalgamated)

Dhani Services limited (DSL) (formerly Indiabulls Ventures Limited), as an incorporated legal entity, came into existence on June 9, 1995, under the Companies Act, 1956. The name of the Company has been changed from 'Indiabulls Ventures Limited' to ‘Dhani Services Limited’ with effect from October 6, 2020 to align its business of providing technology enabled subscription based healthcare and transaction finance services, through its Dhani App.

The company is a technology business that operates through its app ‘Dhani’ and provides digital healthcare and transaction finance to its customers. For transaction finance, the company issue cards (virtual and physical) which come with embedded credit providing customers with daily transaction power (its customers don’t own a credit card).

DSL’s key subsidiaries include Dhani Loans and Services Limited (formerly Indiabulls Consumer Finance Limited), Indiabulls Asset Reconstruction Company Limited, Dhani Stocks Ltd ( earlier name was Indiabulls Securities), Indiabulls Investment Advisors Limited, Auxesia Soft Solutions Limited, Indiabulls Distribution Services Limited, Pushpanjli Finsolutions Limited, Devata Tradelink Limited, Arbutus Constructions Limited, Gyansagar Buildtech Limited, Savren Medicare Limited (formerly Savren Buildwell Limited), Dhani Healthcare Limited (formerly Pushpanjli Fincon Limited), Indiabulls Alternate Investments Limited, Indiabulls Infra Resources Limited, Indiabulls Consumer Products Limited, Transerv Limited, Dhani Health Middle East FZ LLC (Foreign company), Dhani Limited (Foreign company) and Dhani Ltd (Foreign company).

Business area of the company

The company provides customers with primary healthcare access over instant video calls with doctors. Customers can get access to primary medical care 24x7 on the app within 15 seconds. Doctor consultations and prescriptions are supplemented with unbranded medicines delivery at 50% discount. E-pharmacy provides customers with branded medicines at 25% discount, delivered to their doorsteps.

To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: