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Dossier · DHVIJA FINANCE LIMITED · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
DHVIJA FINANCE LIMITED
BSE: 539552
BSE: 539552
Financial Services › Financial Services › Finance › Non Banking Financial Company (NBFC)
DHVIJA FINANCE LIMITED
StateQ4 FY20 filed
Last close · 27 Oct 2026₹12.05
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA152.5 · 17.99 · —
DHVIJA FINANCE LIMITED is a Finance company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY19–FY20 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY20 |
|---|---|---|
| Revenue | 1 | 1 |
| EBITDA (ex other income) | — | 1 |
| margin % | — | 65.1 |
| Owners' profit | — | 0 |
| EPS, as reported (₹) | 0.12 | 0.98 |
| ROE % · ROCE % | — · 31.7 | 9.3 · — |
| Debt / equity (x) | — | — |
| Cash from operations | — | — |
| Capex | — | — |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DHVIJA FINANCE LIMITED · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q1 FY19 | Q2 FY19 | Q3 FY19 | Q4 FY19 | Q1 FY20 | Q2 FY20 | Q4 FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | 0 | 0 | 0 | (0) | 0 | 0 |
| Net profit | — | — | — | — | (0) | 0 | 0 |
| EPS (₹) | 0.03 | 0.10 | 0.07 | (0.03) | 0.08 | 0.03 | 0.00 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
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. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,67,346 | 27.9 | 4.85 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,93,785 | 14.5 | 2.94 | — | 15.2 | — | 22.5 | 74.7 |
| TATA CAPITAL LIMITED | 1,28,620 | 23.5 | 2.73 | — | 10.4 | — | — | 75.8 |
| CHOLAMANDALAM IN & FIN CO | 1,25,298 | 21.7 | 4.11 | — | 17.2 | — | 26.5 | 71.2 |
| MUTHOOT FINANCE LIMITED | 96,653 | 8.5 | 2.43 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,250 | 22.1 | 3.20 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 42,997 | 19.2 | 2.89 | — | 13.8 | — | — | 78.4 |
| PIRAMAL FINANCE LIMITED | 42,166 | 24.9 | 1.50 | — | 5.3 | — | — | 63.4 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 152.5 | 18.5 | 179 of 200 | 11% |
| P/B | 18.0 | 1.1 | 251 of 253 | 1% |
| ROE | 9.3 | 3.1 | 61 of 257 | 77% |
| Revenue growth | (100.0) | 12.6 | 220 of 231 | 2% |
| Market cap | 59 | 33 | 107 of 268 | 60% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DHVIJA FINANCE LIMITED · 28 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · CFO Ms. Mahima Jain resigns with immediate effect | management changes | high | — | — |
| 6 Oct 2026 · No physical share certificates received for demat in Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Promoter group member releases pledge of 15.4 lakh shares | ownership changes | high | — | — |
| 28 Sept 2026 · Promoter Pankaj Kumar releases pledge of 15.4 lakh shares | ownership changes | high | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1, 2026 ahead of Q2 FY27 results | compliance | minimal | — | — |
| 12 Sept 2026 · Company Secretary Ronika Dhall resigns; effective 2 Sept 2026 | management changes | medium | — | — |
| 10 Sept 2026 · Dhvija Finance allots about 5 crore rupees NCDs at 16 percent coupon | fund raising | medium | — | — |
| 3 Sept 2026 · AGM 2026: All 4 resolutions passed including MD pay revision | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AGM results: All 4 resolutions passed at Dhvija Finance | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Company Secretary change at Dhvija Finance effective Sept 2, 2026 | management changes | medium | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in