NSE: DELPHIFX · BSE: 533452
DELPHI WORLD MONEY LTD
Operates two service segments. Travel Services generated Rs 149.298 crore in FY26, 76.9% of period segment revenue, with segment EBIT of Rs 15.387 crore. Foreign Exchange, Money Transfer and Payment services generated Rs 44.748 crore, 23.1% of period segment revenue, with segment EBIT of Rs 12.717 crore. The business is service-oriented, with materials cost at 0% of revenue, and the cost base is split between other operating expenses at 71.7% of revenue, employee costs at 25.9%, and depreciation at 2.0%. During FY26, the company raised Rs 997.65 crore via a Rights Issue and acquired control over subsidiary Ebix Travel Private Limited, linked to the travel business. Total revenue for FY26 was Rs 194.046 crore with an EBITDA margin of 14.3765%, against total assets of Rs 646.276 crore. The company sits in the Other Financial Services classification, serving customers who need foreign currency, cross-border remittances, and travel bookings. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Travel Services (77%), Foreign Exchange, Money Transfer and Payment services (23%). Service-oriented foreign exchange, remittance and travel business
Exhibit 1: Financial summary, FY19–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY26 |
|---|---|---|
| Revenue | 9,160 | 194 |
| EBITDA (ex other income) | (40) | 4 |
| margin % | (0.4) | 1.9 |
| Owners' profit | (37) | 5 |
| EPS, as reported (₹) | (11.79) | 0.16 |
| ROE % · ROCE % | (12.8) · (8.9) | 2.2 · 12.1 |
| Debt / equity (x) | 0.52 | 1.20 |
| Cash from operations | — | 63 |
| Capex | — | (7) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q4 FY19 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 0 | 50 | 64 | 69 |
| Profit before tax | 0 | 2 | 0 | 2 |
| Net profit | 0 | (0) | 0 | (2) |
| EPS (₹) | 0.00 | (0.15) | 0.02 | (0.08) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (i) Foreign Exchange, Money Transfer and Payment services | 21 | 11.5 |
| (ii) Travel Services | 112 | 61.3 |
| Foreign Exchange, Money Transfer and Payment services | 12 | 6.6 |
| Travel Services | 38 | 20.7 |
| Total, before eliminations | 182 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.1 | 1.0 | 55 of 105 | 48% |
| ROCE | 5.6 | 1.8 | 28 of 83 | 67% |
| ROE | 2.2 | 1.3 | 46 of 111 | 59% |
| Debt / Equity | 1.2 | 0.0 | 70 of 77 | 9% |
| EBITDA margin | 11.0 | 25.6 | 54 of 91 | 41% |
| Market cap | 142 | 26 | 18 of 113 | 85% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine RTA compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · AGM voting results: all 3 resolutions passed with 99.99 percent approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Re-appointment of Whole-Time Director Mr. Hariprasad Panichikkil for 5 years | management changes | medium | — | — |
| 30 Sept 2026 · 41st AGM held on 30 Sep 2026 - 3 resolutions put to e-voting | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 till Q2 FY27 results announcement | compliance | minimal | — | — |
| 23 Sept 2026 · Delphi World Money Corporate Travel business grows 13% in August 2026 | business updates | medium | — | — |
| 5 Sept 2026 · Newspaper publication of 41st AGM notice for September 30, 2026 | compliance | minimal | — | — |
| 4 Sept 2026 · Delphi World Money files 41st Annual Report for FY25-26 with BSE and NSE | compliance | low | — | — |
| 4 Sept 2026 · 41st AGM set for 30 September 2026; director reappointment on agenda | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Book Closure for 41st AGM on Sep 30, 2026 and Director Re-appointment | corporate actions | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.