SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Talk to Advisor
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up

Dhara Rail Projects Ltd (DHARARAIL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: DHARARAIL Business Support | Small Cap | Dhara Rail Projects Share Price

BSE Share Price
Not Listed

Dhara Rail Projects Ltd (DHARARAIL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: DHARARAIL Business Support | Small Cap | Dhara Rail Projects Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹219 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹10.2
TTM Sales
₹56.4 Cr.
Book Value per Share
₹18.3
P/E Ratio
14.18
Lower than its 5-year historical median
Industry PE
23
Price to Book (P/B)
7.93
Higher than its 5-year historical median
Price to Sales (P/S)
3.88
In line with its 5-year historical median
EV/EBITDA
10.90
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
66.47%
Outperforms industry median
Return on Capital Employed (ROCE)
25.28%
Outperforms industry median
Return on Assets (ROA)
13.97%
Operating Profit Margin
11.5%
Net Profit Margin
14.4%
Gross Profit Margin
18.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
38.99%
Operating Profit Growth (1 Year)
-
308.94%
Net Profit Growth (1 Year)
-
124.64%
Asset Quality
Promoter Holding
74.56%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹13 Cr.
Equity
₹15.1 Cr.
Face Value
₹10
All Time Low / High
- / -

Dhara Rail Projects stock performance

Key Ratios
mw4me loader

Check Before You Invest

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
Q.1 Is Dhara Rail Projects Ltd a good quality company?
Dhara Rail Projects Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Dhara Rail Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dhara Rail Projects Ltd vs industry peers?
Dhara Rail Projects Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 15.11%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Dhara Rail Projects Ltd?
Promoters hold 74.56% of the Dhara Rail Projects Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Dhara Rail Projects Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
View More

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.
Dhara Rail Projects Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'23Mar'24Mar'25TTM
ROCE % ⓘ6.2%12.7%25.3%-
Value Creation
Index ⓘ		-0.6-0.10.8-

Growth Parameters ⓘ
Sales ⓘ26.231.443.756
Sales YoY Gr.-20.1%39%-
Adj EPS ⓘ0.91.54.310.2
YoY Gr.-59.6%184%-
BVPS (₹) ⓘ3.25.711.418.3
Adj Net
Profit ⓘ		1.11.74.715
Cash Flow from Ops. ⓘ0.6-0.5-5.1-
Debt/CF from Ops. ⓘ41-58.9-4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANANA39%
Adj EPS ⓘNANANA184%
BVPSⓘNANANA99.7%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		29.833.949.969
Op. Profit
Mgn % ⓘ		3.23.911.5NAN
Net Profit
Mgn % ⓘ		45.310.827.4
Debt to
Equity ⓘ		6.54.31.6-
Working Cap
Days ⓘ		02582900
Cash Conv.
Cycle ⓘ		020700

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25
Sales263144
Operating Expenses ⓘ + 253039
Manufacturing Costs125
Material Costs151621
Employee Cost 91111
Other Costs ⓘ 112
Operating Profit ⓘ 115
Operating Profit Margin (%) 3.2%3.9%11.5%
Other Income ⓘ + 133
Exceptional Items ⓘ 000
Interest ⓘ 000
Depreciation ⓘ 000
Profit Before Tax ⓘ 248
Tax ⓘ 012
Profit After Tax 136
PAT Margin (%) 4.5%8.9%14.4%
Adjusted EPS (₹)1.12.55.7
Dividend Payout Ratio (%)0%0%0%

Valuation of Dhara Rail Projects - 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'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 4613
Share Capital ⓘ 000
Reserves ⓘ 3613
Debt +232720
Long Term Debt2300
Short Term Debt02720
Minority Interest000
Trade Payables6107
Others Liabilities ⓘ 224
Total Liabilities ⓘ 344644

Fixed Assets

Net Fixed Assets ⓘ +000
Gross Block000
Accumulated Depreciation000
CWIP ⓘ 000
Investments ⓘ 14140
Inventories192
Trade Receivables5620
Cash Equivalents flag ⓘ 615
Others Assets ⓘ 81616
Total Assets ⓘ 344644

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 1-0-5
PBT ⓘ 248
Adjustment ⓘ -0-2-3
Changes in Working Capital ⓘ -1-1-8
Tax Paid ⓘ 0-1-2
Cash Flow From Investing Activity ⓘ + -0-617
Capex -0-0-0
Net Investments -5116
Others ⓘ 4-70
Cash Flow From Financing Activity ⓘ + 05-7
Net Proceeds from Shares ⓘ 000
Net Proceeds from Borrowing ⓘ 000
Interest Paid ⓘ 0-0-0
Dividend Paid ⓘ 000
Others ⓘ 05-7
Net Cash Flow ⓘ 0-24

Financial Ratio

PARTICULARSMar'23Mar'24Mar'25
Ratios
ROE (%)33.2357.0166.47
ROCE (%)6.2212.6625.28
Asset Turnover Ratio0.770.780.97
PAT to CFO Conversion(x)1-0-0.83
Working Capital Days
Receivable Days66.2061.70110
Inventory Days14.3058.9046.90
Payable Days146.80183.90153.80

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dhara Rail Projects Ltd FAQs

The current trading price of Dhara Rail Projects on 01-Jan-1970 05:30 is ₹0.00.

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 31-Dec-1969 the market cap of Dhara Rail Projects stood at ₹218.8 Cr

The latest P/E ratio of Dhara Rail Projects as of 31-Dec-1969 is 14.18.

The latest P/B ratio of Dhara Rail Projects as of 31-Dec-1969 is 7.93.

The 52-week high of Dhara Rail Projects is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dhara Rail Projects is ₹56.39 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Dhara Rail Projects Ltd is a below average quality company.

The key valuation ratios of Dhara Rail Projects Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Dhara Rail Projects Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Dhara Rail Projects Ltd

Dhara Rail Projects was originally incorporated as private limited company in the name of ‘Dhara Rail Projects Private Limited’ on April 05, 2010. Thereafter, pursuant to the Business Takeover Agreement dated July 21, 2010, the company took over the business of the proprietorship concern, M/s. Dhara Industries. Thereafter, the company was converted into a public limited company, pursuant to a special resolution passed by the shareholders at the Extra Ordinary General Meeting held on August 09, 2025 and consequently, the name of the company was changed from ‘Dhara Rail Projects Private Limited’ to ‘Dhara Rail Projects Limited’.

The company is, an ISO 9001:2015 certified company, engaged in the business of executing various types of contractual railway projects and related services which includes Annual Maintenance Contracts (AMC) and repair services for a wide range of railway rolling stock systems. Railway projects include supply, installation, testing, and commissioning (SITC) of various electrical equipment across all types of rolling stock and AMC activities involve Annual Maintenance Contracts, repair & maintenance services, inspection and periodic servicing of railway assets such as train lighting equipment, Power car equipment, Tower wagons etc. post its commissioning & installation.

It provides services to the Ministry of Railways, Government of India, either through directly awarded contracts secured via competitive tendering or through pre-bid arrangements with various OEMs.

Business area of the company 

The company is engaged in the business of executing various types of contractual railway projects and related services which includes supply, installation, testing, commissioning, operations and Annual Maintenance Contracts (AMC) of power cars, coaches, railway rolling stocks and other electrical & mechanical equipment. It provides services to the Ministry of Railways, Government of India, either through directly awarded contracts secured via competitive tendering or through pre-bid arrangements with various OEMs.

Services of the company

  • Annual Maintenance Contracts and repair services for train lighting equipment
  • Annual Maintenance Contracts and repair services for Overhead Equipment maintenance vehicles
  • Annual Maintenance Contracts and repair services for Power Car equipment
  • Annual Maintenance Contracts and repair services for Heating, Ventilation and Air Conditioning (HVAC) systems used in rolling stock
  • Supply, Installation, Testing, and Commissioning (SITC) of various electrical equipment across all types of rolling stock
  • Various outsourcing services for passenger coaches, covering en route operations and troubleshooting

History and milestones

  • 2010: Incorporation of the company.
  • 2010: Takeover of business of proprietorship firm, M/s. Dhara Industries.
  • 2024: Crossed turnover of Rs 30 crore.
  • 2025: Conversion of the Company from Private Limited to Public Limited Company.

To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

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:

×