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DHARNI CAPITAL SERVICES LIMITE

Financial Services › Capital Markets
₹55.25
at close · 24 Sept 2026
▲ 0.00 (+0.00%)

Latest filings

  1. Reg 74(5) compliance certificate for Q2 FY27 - no physical securities received · Compliance
  2. Trading window closure for Un-audited H1 FY27 Financial Results · Compliance
  3. Statutory Auditors re-appointed for second 5-year term · Management Changes
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Distributes financial products and provides related advisory/consulting services, earning ₹9.55 crore in revenue and ₹4.67 crore in net profit in FY26, with an EBITDA margin of 64.7%. The standalone business contributed ₹266.66 lakhs of revenue from operations in H1 FY26, while the consolidated picture (which includes wholly-owned subsidiary Dharni Consulting Private Limited) added further revenue, lifting H1 FY26 consolidated revenue to ₹445.63 lakhs. The company also holds a 49.28% stake (₹61.11 lakh) in associate Dhanayu Finance Private Limited, which was granted an NBFC licence by the RBI in February 2026. Employee cost is the largest cost line at 47.3% of revenue, followed by other operating expenses at 19.1% and depreciation at 2.8%, pointing to a people-led services model with little capex. The balance sheet is essentially debt-free, with FY26 outstanding borrowings of ₹5.36 crore against total assets of ₹30.73 crore and cash and equivalents of ₹411.01 lakhs at end-H1 FY26.

Operating scale
FY26 revenue
₹9.55 croreFY26
FY26 net profit
₹4.67 croreFY26
Stake in Dhanayu Finance (associate NBFC)
49.28% (₹61.11 lakh)FY26
H1 FY26 standalone revenue from operations
₹266.66 lakhsH1 FY26
H1 FY26 consolidated revenue
₹445.63 lakhsH1 FY26
Outstanding borrowings
₹5.36 croreFY26
Who pays it
Clients of capital markets distribution and consulting services through its standalone business and Dharni Consulting subsidiary
Biggest cost
Employee cost at 47.3% of revenue
Kind of business
Small, debt-light capital markets services and distribution company with a consulting subsidiary and an associate NBFC
Where it sits
BSE SME-listed (scrip code 543753) financial products distributor, with paid-up equity capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore
Market Cap
₹113 Cr
P / E (TTM)
16.9×
EV / EBITDA
13.1×
Div Yield
—
Growth
—·
Revenue 5y CAGR
PAT — · EBITDA —
Quality
22.9%▲
ROCE (FY26)
ROE 18.1% · margin 64.7%
Leverage
0.15·
Debt / Equity · low
Net debt ₹3.74 Cr
Revenue FY23→FY26
2.0×▲
Margin +23.5 pts
₹5 Cr → ₹10 Cr
Cash conversion
0.29×▼
Operating cash ÷ profit · 4 yrs
₹4 Cr on ₹13 Cr
Where it sits among 68 Capital Markets peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#23/58
P/B#43/65
ROCE#11/33
ROE#23/65
Debt / Equity#23/30
EBITDA margin#21/64
Revenue growth#11/58
Profit growth#19/61

Scorecard

Measured from the filed financials, judged against its Capital Markets peers · as of FY26 — not investment advice

Strengths
Returns on capital 22.9%
#11 of 33 in Capital Markets on the latest reported figures · up from 11.3% in FY23
Concerns
Carries more debt than its peers — 0.15× equity
higher than 76% of its 30 Capital Markets peers
Over 4 years it reported ₹13 Cr of profit and ₹3.69 Cr of operating cash — 0.29×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

Price

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Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from DHARNI CAPITAL SERVICES LIMITE's filed financials and exchange disclosures

What does DHARNI CAPITAL SERVICES LIMITE do?

DHARNI CAPITAL SERVICES LIMITE is a Capital Markets company listed on BSE.

Is DHARNI CAPITAL SERVICES LIMITE profitable?

Yes. Over the trailing twelve months DHARNI CAPITAL SERVICES LIMITE reported a net profit of ₹6.67 Cr on revenue of ₹13 Cr.

Does DHARNI CAPITAL SERVICES LIMITE pay a dividend?

Not in the latest reported year — DHARNI CAPITAL SERVICES LIMITE's dividend payout for FY26 was nil.

Is DHARNI CAPITAL SERVICES LIMITE debt-free?

No. It reported borrowings of ₹3.81 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹3.74 Cr after cash. Debt stands at 0.15× equity. That is higher than 76% of its 30 Capital Markets peers.

Is DHARNI CAPITAL SERVICES LIMITE expensive compared with its peers?

On trailing P/E, DHARNI CAPITAL SERVICES LIMITE ranks 23 of 58 in Capital Markets — cheaper than 61% of them, against an industry median of 19.6×. This is a position, not a valuation judgement.

Where can I track DHARNI CAPITAL SERVICES LIMITE's announcements?

Every NSE and BSE filing by DHARNI CAPITAL SERVICES LIMITE appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.