BSE: 543516
DHYAANI TRADEVENTTURES LIMITED
Operates as a small trading and distribution company based in Ahmedabad, previously known as Dhyaani Tile & Marblez Limited. Revenue for FY26 was Rs. 27.22 crore with net profit of just Rs. 0.07 crore and an EBITDA margin of 0.71%, indicating very thin margins typical of a low-margin trading setup. The H1 FY26 results (ended 30 September 2025) showed revenue of Rs. 2,241.32 lakh with purchase costs of Rs. 2,177.20 lakh, confirming that purchases of traded goods are the dominant cost and that the business resells goods with little value-add. Trade receivables nearly tripled year-on-year to Rs. 6,297.36 lakh in FY26, while the company posted a negative operating cash flow of Rs. 3,137.49 lakh. The company is listed on the BSE SME platform (scrip code 543516) with total assets of Rs. 74.07 crore and borrowings of only Rs. 1.27 crore. The auditor's Emphasis of Matter flagged non-compliance with e-way bill and e-invoice rules, delayed statutory payments, TDS issues under Section 194Q, and pending income tax dues of Rs. 45-50 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading and distribution. Thin-margin, small-scale trading and distribution
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 20 | 9 | 30 | 12 | 27 |
| EBITDA (ex other income) | — | (0) | 1 | 1 | 0 |
| margin % | — | (2.9) | 3.6 | 5.7 | 0.7 |
| Owners' profit | — | (0) | 1 | 0 | 0 |
| EPS, as reported (₹) | 5.06 | (0.51) | 3.22 | 0.30 | 0.04 |
| ROE % · ROCE % | — · 55.1 | (1.8) · (1.6) | 13.9 · 15.0 | 0.8 · 1.7 | 0.2 · 0.5 |
| Debt / equity (x) | — | 0.00 | 0.61 | 0.16 | 0.04 |
| Cash from operations | 1 | (2) | (5) | (31) | 4 |
| Capex | — | 0 | (0) | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 3 | 10 | 19 | 0 | 1 | 22 | 5 |
| Profit before tax | 0 | (0) | 0 | 1 | 0 | 0 | 0 | (0) |
| Net profit | 0 | (0) | 0 | 0 | 0 | 0 | 0 | (0) |
| EPS (₹) | 0.44 | (0.95) | 1.42 | 2.22 | 0.00 | 0.08 | 0.12 | (0.08) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 93.8 | 13.9 | 120 of 130 | 8% |
| P/B | 0.6 | 0.9 | 48 of 150 | 68% |
| ROCE | 0.3 | 2.1 | 125 of 177 | 30% |
| ROE | 0.2 | 2.3 | 111 of 158 | 30% |
| Debt / Equity | 0.0 | 0.1 | 68 of 154 | 56% |
| EBITDA margin | (1.9) | 4.5 | 111 of 137 | 19% |
| Revenue growth | (74.9) | (8.6) | 108 of 135 | 20% |
| Profit growth | (128.6) | 0.6 | 129 of 157 | 18% |
| Market cap | 19 | 21 | 98 of 179 | 46% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Oct 2026 · Routine quarterly demat and remat compliance certificate filed with BSE | compliance | minimal | — | — |
| 1 Oct 2026 · MD Chintan Rajyaguru re-appointed for 5 years at AGM | management changes | medium | — | — |
| 30 Sept 2026 · 12th AGM voting results - all 6 resolutions passed with high approval | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1, 2026 till half-year results | compliance | minimal | — | — |
| 28 Sept 2026 · 12th AGM held; FY26 net profit Rs 6.78 lakh, MD re-appointment proposed | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · 12th AGM held on 28 Sep 2026, six resolutions transacted | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Oswal Energies crosses 5 percent in Dhyaani Tradeventures, holds 9.39 percent | ownership changes | medium | — | — |
| 7 Sept 2026 · Newspaper notice of 12th AGM and book closure published | compliance | minimal | — | — |
| 5 Sept 2026 · Book Closure Notice for 12th AGM from Sept 22-28, 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Notice of 12th AGM on Sept 28, 2026; MD reappointment and RPTs on agenda | board shareholder meetings | 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.