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BSE: 532960 | NSE: DHANI | Finance - Stock Broking | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Dhani Services Ltd is a average quality company.
The key valuation ratios of Dhani Services Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Dhani Services Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 30% | 9.1% | 12.2% | 7.2% | 3% | 5.2% | 0.5% | 0.5% | 1.7% | 0.9% | - |
| Value Creation Index ⓘ | 1.1 | -0.4 | -0.1 | -0.5 | -0.8 | -0.6 | -1.0 | -1.0 | -0.9 | -0.9 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 80.9 | 76.3 | 83.6 | 184 | 148 | 306 | 30.4 | 44.5 | 107 | 92.7 | 71 |
| Sales YoY Gr. | - | -5.6% | 9.5% | 120.7% | -20% | 107.1% | -90.1% | 46.8% | 139.4% | -13% | - |
| Adj EPS ⓘ | 4.5 | 0.6 | 1.5 | 1.1 | 1.4 | 4.8 | -0.3 | -0.4 | 0.4 | -0.2 | -0.5 |
| YoY Gr. | - | -87.2% | 153.5% | -28.6% | 29.5% | 255.2% | -106% | NA | NA | -158.5% | - |
| BVPS (₹) ⓘ | 9.4 | 6.9 | 8.4 | 33.5 | 101 | 90 | 87.3 | 94.3 | 94.5 | 94.5 | 93.8 |
| Adj Net Profit ⓘ | 118 | 16.9 | 47.1 | 48.6 | 77.4 | 247 | -16.8 | -24.7 | 25.1 | -14.4 | -28 |
| Cash Flow from Ops. ⓘ | 28.5 | 37.5 | 9.9 | -130 | 189 | 149 | -41.1 | 33.7 | 60.7 | 22.8 | - |
| Debt/CF from Ops. ⓘ | 14.5 | 15.8 | 61.2 | -7.6 | 2.8 | 2.5 | -10.1 | 15.6 | 9.5 | 21.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 1.5% | -8.9% | 45.1% | -13% | ||||
| Adj EPS ⓘ | -172.2% | -170.7% | NA | -158.5% | ||||
| BVPSⓘ | 29.2% | -1.3% | 2.7% | 0.1% | ||||
| Share Price | 7.3% | -22% | -34.4% | 14.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 54.9 | 7.5 | 20 | 5.3 | 2.1 | 4.8 | -0.4 | -0.5 | 0.4 | -0.3 | -0.5 |
| Op. Profit Mgn % ⓘ | 52 | 53.3 | 43.1 | 58 | 88.7 | 95.2 | 80.4 | 56.9 | 100.2 | 82.6 | 77.2 |
| Net Profit Mgn % ⓘ | 146.2 | 22.1 | 56.3 | 26.3 | 52.4 | 80.7 | -55.2 | -55.5 | 23.6 | -15.5 | -39.5 |
| Debt to Equity ⓘ | 1.7 | 2.9 | 2.3 | 0.6 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 860 | 709 | 786 | 407 | 1,250 | 593 | 3,833 | 7,148 | 4,611 | 3,680 | 23,335 |
| Cash Conv. Cycle ⓘ | 121 | 157 | 148 | 67 | -40 | -134 | -1,055 | -115 | 266 | -86 | 21,494 |
Sales growth is growing at healthy rate in last 3 years 45.11%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -34.01%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.5 | -5.9 |
| TTM Sales (₹ Cr.) | 71.3 | 408 |
| BVPS (₹.) ⓘ | 93.8 | 54.8 |
| Reserves (₹ Cr.) ⓘ | 5,618 | 3,233 |
| P/BV ⓘ | 0.54 | 0.93 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 33.30 / 62.99 |
| All Time Low / High (₹) | 5.01 / 819.95 |
| Market Cap (₹ Cr.) | 3,123 |
| Equity (₹ Cr.) | 122.4 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 26 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 205 | 105 | 152 | 204 | 153 | 310 | 35 | 47 | 109 | 95 |
| Interest Income | 81 | 76 | 84 | 184 | 148 | 306 | 30 | 45 | 107 | 93 |
| Other Income ⓘ | 124 | 28 | 68 | 20 | 5 | 4 | 5 | 2 | 3 | 3 |
| Expenditure ⓘ | 70 | 78 | 93 | 139 | 59 | 53 | 43 | 65 | 54 | 68 |
| Interest Expense ⓘ | 26 | 40 | 43 | 60 | 42 | 38 | 35 | 45 | 54 | 52 |
| Operating Expenses ⓘ | 41 | 37 | 46 | 72 | 16 | 14 | 4 | 10 | 0 | 10 |
| Provisions | 2 | 1 | 4 | 7 | 1 | 1 | 4 | 9 | 1 | 7 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -23 |
| Profit Before Tax ⓘ | 135 | 26 | 59 | 65 | 94 | 257 | -8 | -18 | 55 | 5 |
| Taxes ⓘ | 16 | 9 | 12 | 17 | 17 | 10 | 9 | 7 | 30 | 19 |
| Profit After Tax | 118 | 17 | 47 | 49 | 77 | 247 | -17 | -25 | 25 | -14 |
| Adjusted EPS (₹) | 4.5 | 0.6 | 1.5 | 1.1 | 1.4 | 4.8 | -0.3 | -0.4 | 0.4 | -0.2 |
| Dividend Payout Ratio (%) | 66% | 521% | 68% | 0% | 73% | 67% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 246 | 202 | 268 | 1,584 | 5,805 | 4,680 | 5,045 | 5,803 | 5,769 | 5,755 |
| Share Capital ⓘ | 52 | 59 | 64 | 93 | 113 | 102 | 115 | 121 | 122 | 122 |
| Reserves ⓘ | 194 | 143 | 204 | 1,492 | 5,692 | 4,578 | 4,930 | 5,682 | 5,647 | 5,634 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | 5 | 5 | -4 | 154 | 380 | 235 | -49 | 483 | 563 | 495 |
| Current Liabilities | 541 | 723 | 858 | 963 | 256 | 115 | 418 | 7 | 8 | 4 |
| Trade Payables | 0 | 0 | 3 | 9 | 6 | 4 | 2 | 3 | 2 | 1 |
| Short term borrowings | 413 | 590 | 606 | 831 | 86 | 83 | 413 | 0 | 0 | 0 |
| Other Liabilities | -402 | -591 | -591 | -804 | -92 | -86 | -415 | -3 | -2 | -1 |
| Total Liabilities ⓘ | 802 | 929 | 1,139 | 2,738 | 6,441 | 5,030 | 5,414 | 6,292 | 6,339 | 6,254 |
Assets | ||||||||||
| Non Current Asset | 37 | 29 | 80 | 1,385 | 4,440 | 4,788 | 4,826 | 4,953 | 4,884 | 5,777 |
| Loan Asset | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non Current Asset ⓘ | 37 | 29 | 80 | 1,385 | 4,440 | 4,788 | 4,826 | 4,953 | 4,884 | 5,777 |
| Current Asset | 765 | 901 | 1,059 | 1,352 | 2,001 | 241 | 587 | 1,340 | 1,456 | 477 |
| Current Investment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Asset | 765 | 901 | 1,059 | 1,352 | 2,001 | 241 | 587 | 1,340 | 1,456 | 477 |
| Total Assets ⓘ | 802 | 929 | 1,139 | 2,738 | 6,441 | 5,030 | 5,414 | 6,292 | 6,339 | 6,254 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 29 | 37 | 10 | -130 | 189 | 149 | -41 | 34 | 61 | 23 |
| Cash Flow From Investing Activity ⓘ | 236 | 47 | -11 | -1,239 | -3,656 | 473 | -337 | -892 | -122 | 42 |
| Cash Flow From Financing Activity ⓘ | 104 | 65 | 43 | 1,620 | 3,446 | -1,560 | 503 | 838 | 41 | -83 |
| Net Cash Flow ⓘ | 368 | 149 | 42 | 251 | -21 | -938 | 125 | -21 | -20 | -18 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 5 | 1 | 1 | 1 | 1 | 5 | 0 | 0 | 0 | 0 |
| DPS (₹) | 3 | 3 | 1 | 0 | 1 | 3 | 0 | 0 | 0 | 0 |
| BVPS (₹) | 9 | 7 | 8 | 33 | 101 | 90 | 87 | 94 | 94 | 95 |
Performance Ratios | ||||||||||
| ROA (%) | 17.4 | 2.0 | 4.6 | 2.5 | 1.7 | 4.3 | -0.3 | -0.4 | 0.4 | -0.2 |
| ROE (%) | 54.9 | 7.5 | 20.0 | 5.3 | 2.1 | 4.8 | -0.4 | -0.5 | 0.4 | -0.3 |
| ROCE (%) | 30.0 | 9.1 | 12.2 | 7.2 | 3.0 | 5.2 | 0.5 | 0.5 | 1.7 | 0.9 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 3.7 | 2.1 | 6.9 | 7.2 | 3.2 | 1.2 | 1.9 | 0.7 | 0.3 | 0.4 |
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.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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