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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 / 64
TTM EPS
₹0.5
TTM Sales
₹373 Cr.
Book Value per Share
₹44.7
P/E Ratio
99.42
Industry PE
48.1
Price to Book (P/B)
1.15
Higher than its 5-year historical median
Price to Sales (P/S)
9.03
Lower than its 5-year historical median
EV/EBITDA
21.08
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-2.19%
Return on Capital Employed (ROCE)
1.39%
Return on Assets (ROA)
-1.90%
Operating Profit Margin
-5.1%
Net Profit Margin
-17.14%
Gross Profit Margin
4.1%
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)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
33.91%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,810 Cr.
Equity
₹131.7 Cr.
Face Value
₹2
All Time Low / High
₹5.01 / 819.95

Dhani Services . - (Amalgamated) stock performance

Key Ratios
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10 Year X-Ray :

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
BVPSⓘ33.6%0.8%-0.2%-0.9%
Share Price 6.6% -22.2% 6.9% -16.4%

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

Valuation of Dhani Amalagamtion - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

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 (%)

Financials

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Income + 409.63509.62994.782,003.542,918.851,394.491,524.55842.88479.35497.67
Interest Income376.48409.34980.231,999.722,914.791,311.021,434.44608.53422.85394.77
Other Income ⓘ 9.3249.34197.96137.361,000.46325.86452.38287.17194.1869.35
Exceptional Items ⓘ 33.15100.2814.563.824.0783.4890.12234.3556.51102.90
Expenditure ⓘ + 332.88363.70713.951,374.262,891.811,603.212,425.411,350.46813.86511.66
Interest Expense ⓘ 148.45138.62223.52591.05823.92518.10284.01170.1194.3665.45
Operating Expenses ⓘ 175.11175.74292.48645.861,067.44759.251,689.02893.18525.32376.86
Provisions 9.3249.34197.96137.361,000.46325.86452.38287.17194.1869.35
Exceptional Items ⓘ 0000000000
Profit Before Tax ⓘ 76.75145.93280.83629.2827.04-208.71-900.85-507.59-334.50-13.99
Taxes ⓘ 2.9143.6771.30168.99-14.7721.06-40.48-26.2839.4453.66
Profit After Tax 73.84102.25209.53460.2941.81-229.77-860.37-481.31-373.94-67.65
Adjusted EPS (₹)2.53.24.58.10.1-3.9-14.3-7.9-6.2-0.9
Dividend Payout Ratio (%)119%31.30%0%12.40%3,958.60%0%0%0%0%0%
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Equity Capital +331.57448.101,861.236,425.975,027.355,182.305,063.193,813.583,445.262,734.24
Share Capital ⓘ 58.5764.0492.63113.49102.22114.54121.19121.64121.64121.64
Reserves ⓘ 273384.061,768.606,312.484,925.135,067.754,941.993,691.943,323.632,612.60
Short term borrowings1,708.381,518.332,319.724,683.552,049.941,748.521,416.16227.16124.3932.07
Long Term Borrowings448.58-3.572,559.264,037.413,178.181,797.28793.10283.5187.72-147.56
Current Liabilities 2,059.831,919.763,235.775,265.382,638.612,510.452,303.23621.70476.04368.67
Trade Payables3.185.4535.3064.3185.1175.18239.8420.8521.046.74
Other Liabilities-1,711.55-1,506.30-2,318.05-4,747.86-2,135.05-1,823.70-1,656-248.01-145.4262.78
Total Liabilities ⓘ 2,839.982,381.767,693.2315,877.9111,404.539,920.198,367.364,774.684,024.313,097.93

Assets

Non Current Asset +799.41165.114,526.0611,894.226,871.415,874.315,273.112,666.162,574.271,779.05
Loan Asset 004,090.5211,196.645,230.964,598.854,097.151,534.151,637.781,280.05
Other Non Current Asset ⓘ 799.41165.11435.55697.581,640.451,275.451,175.961,132936.49499
Current Asset +2,033.582,216.663,167.173,983.704,533.124,045.883,094.252,108.521,450.041,318.88
Current Investment0162.50463.12594.44595.921,384.68241.1235544.6958.57
Other Current Asset2,033.582,054.162,704.053,389.263,937.202,661.202,853.141,753.521,405.351,260.30
Total Assets ⓘ 2,839.982,381.767,693.2315,877.9111,404.539,920.198,367.364,774.684,024.313,097.93
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ 10.24203.35-2,912.01-7,043.906,040.11925.37-702.26847.56-231.1198.43
Cash Flow From Investing Activity ⓘ -77.03451.64-536.76-203.53-855.81-537.06774.2076.14488.9752.38
Cash Flow From Financing Activity ⓘ 196.22-247.384,473.067,062.15-4,093.25-1,168.40-801.35-1,168.31-317.95-89.07
Net Cash Flow ⓘ 129.43407.611,024.29-185.281,091.05-780.09-729.42-244.61-60.0861.74
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Operational & Financial Ratios
EPS (₹)2.503.204.508.100.10-3.90-14.30-7.90-6.20-0.90
DPS (₹)31013.3000000
BVPS (₹)11.11439.5111.996.889.782.162.556.544.8

Performance Ratios

ROA (%)2.83.94.23.90.3-2.2-9.4-7.3-8.5-1.9
ROE (%)23.326.518.411.30.7-4.6-17.0-11.0-10.3-2.2
ROCE (%)10.212.911.511.16.73.3-7.7-5.6-5.41.4

Valuation Parameters

Price/Book(x)1.34.26.12.91.11.90.80.40.71.3

Top 5 Mutual Funds Holding

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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 ₹64.29 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.

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