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Companies›Industrials›Capital Goods›Industrial Products
NSE:DHATRE

DHATRE UDYOG LTD.

Capital Goods › Industrial Products
₹3.76
at close · 28 Oct 2026
▼ 0.07 (-1.83%)

Latest filings

  1. No demat or remat requests in Q2 FY26 - Dhatre Udyog · Compliance
  2. Trading Window Closed Pending Q2 Results Declaration · Compliance
  3. Dhatre Udyog 31st AGM voting results: all 4 resolutions passed · Board & Shareholder Meetings
All filings ↓
Ask Nexa about DHATRE UDYOG LTD.

Snapshot

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

AI · written from filings

Operated a steel products manufacturing unit at its Vizianagaram plant, under the former name Narayani Steels Limited, until shutting the unit down in February 2025 because the 30-year-old machinery had become obsolete and uneconomical. Plant and equipment were disposed of as scrap, generating Rs 712.98 lakhs, which was used along with other funds to repay Rs 815.70 lakhs of borrowings. Revenue from operations for 9M FY26 came in at Rs 912.18 lakhs, roughly a 93% drop from Rs 12,654.13 lakhs in the year-ago period, and Q3 FY26 quarterly revenue collapsed to Rs 9.53 lakhs from Rs 3,946.72 lakhs. Management is exploring a pivot to real estate by developing factory land at Kakinada and Jamshedpur into small plots. FY26 closed with a standalone net loss of Rs 182.09 lakhs against a Rs 169.77 lakhs profit the prior year, and the statutory auditor flagged material uncertainty about the company's ability to continue as a going concern.

Operating scale
Manufacturing shutdown date
February 2025FY26
Plant machinery age at shutdown
30 years (obsolete)FY26
Cash from scrap sale of plant
Rs 712.98 lakhsH1 FY26
Borrowings repaid
Rs 815.70 lakhsH1 FY26
9M FY26 revenue
Rs 912.18 lakhs (~93% YoY decline)9M FY26
Q3 FY26 quarterly revenue
Rs 9.53 lakhsQ3 FY26
Who pays it
Industrial buyers of steel products historically; now exploring buyers and developers for factory land at Kakinada and Jamshedpur
Biggest cost
Other operating expenses at 42.1% of revenue and employee cost at 8.5% of revenue, as residual costs after manufacturing ceased (materials at 0% of revenue)
Kind of business
Asset-heavy industrial manufacturer whose production has been shut down and which is evaluating a real estate pivot
Where it sits
BSE-listed company (formerly Narayani Steels Limited, BSE Scrip Code: 540080) with manufacturing closed and an unresolved going-concern qualification from the auditor
Market Cap
₹41 Cr
P / E (TTM)
—
EV / EBITDA
—
Div Yield
—
Growth
-34.9%▼
Revenue 5y CAGR
PAT — · EBITDA —
Quality
15.0%▲
ROCE (5y median)
ROE 10.9% (5y median) · margin -23.1%
Leverage
0.00·
Debt / Equity · low
Net cash ₹1.90 Cr
Revenue FY21→FY26
0.1×▼
Margin +46.7 pts
₹78 Cr → ₹9 Cr
Cash conversion
0.33×▼
Operating cash ÷ profit · 5 yrs
₹28 Cr on ₹85 Cr
Where it sits among 123 Iron & Steel Products peersBar = share of peers beaten · tick = industry median · latest reported figures
P/B#26/101
ROCE#106/115
ROE#97/103
Debt / Equity#1/101
Revenue growth#94/97
Profit growth#94/105

Scorecard

Measured from the filed financials, judged against its Iron & Steel Products peers · as of FY26 — not investment advice

Strengths
Returns on capital 15.0% (5-year median)
#106 of 115 in Iron & Steel Products on the latest reported figures · down from 136.2% in FY21
No borrowings on the balance sheet
lower than 89% of its 101 Iron & Steel Products peers
Concerns
Revenue shrinking over 5 years (−35% a year)
Erratic profits — up in only 2 of the last 5 years
Over 5 years it reported ₹85 Cr of profit and ₹28 Cr of operating cash — 0.33×
Less than 60p of every ₹1 of profit arrived as cash
Heavy working capital — 1013 days of cash tied up
Customers are taking longer to pay — 517 → 1016 days of receivables
FY21 → FY26

Charts

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

DHATRE · 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 DHATRE UDYOG LTD.'s filed financials and exchange disclosures

What does DHATRE UDYOG LTD. do?

DHATRE UDYOG LTD. is a Industrial Products company listed on NSE and BSE, trading under the symbol DHATRE.

Is DHATRE UDYOG LTD. profitable?

No. Over the trailing twelve months DHATRE UDYOG LTD. reported a net loss of ₹1.82 Cr on revenue of ₹9.12 Cr.

Does DHATRE UDYOG LTD. pay a dividend?

Not in the latest reported year — DHATRE UDYOG LTD.'s dividend payout for FY26 was nil.

Is DHATRE UDYOG LTD. debt-free?

Yes. It reported no borrowings on its 31 Mar 2026 balance sheet, and ₹1.90 Cr of cash.

Where can I track DHATRE UDYOG LTD.'s announcements?

Every NSE and BSE filing by DHATRE UDYOG LTD. 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.