Dharan Infra-Epc Limited (DHARAN)

About

Dharan Infra-Epc Limited operates in Residential, Commercial Projects within the Consumer Discretionary sector.

Face value: ₹1

Market cap

—

P/E

—

P/B

—

Dividend yield

0%

ROE

-4.3%

ROCE

-3.4%

Debt / equity

0.07

OPM

-220.2%

EPS (TTM)

—

Book value

—

52-week high

—

52-week low

—

1,240 historical price candles were omitted because the exchange source has not been verified.

₹0.1-7.1%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)

Cons

−Low return on equity of -4.1% (3-yr avg)
−Revenue shrank over the last 3 years (-43.9% a year)
−Weak interest coverage of -9.7×
−Low promoter holding of 0.8%

Research score

Structured signal from quality, growth, valuation and momentum.

10/100

Business quality: 19
Growth: 0

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	129	102	108	21	18
COGS	86	63	83	13	11
Gross profit	43	38	25	8	7
	8	10	26	61	46
	35	29	-1	-53	-40
OPM %	27.2%	28.2%	-0.7%	-259.2%	-220.2%
Depreciation	0	0	0	0	0
Interest	15	14	12	11	4
	8	10	12	28	5
Profit before tax	28	24	-2	-37	-38
Tax	8	7	0	0	0
Tax %	27.5%	27.9%	1.3%	0%	0.1%
	20	17	-2	-37	-38
PAT margin %	15.7%	17%	-1.5%	-177.4%	-213.1%
EPS (₹)	0.3	2.8	-0.2	-0.3	-0.1
EPS adjusted (₹)	0.2	0.1	-0	-0.2	-0.1
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	12	62	82	110	261
Reserves	111	78	76	800	620
Minority interest	—	—	—	0	—
	92	89	1,504	76	64
	99	98	70	107	113
Total equity & liabilities	314	327	1,733	1,093	1,059
	1	1	1	1	1
CWIP	—	—	0	0	—
Investments	56	29	1,283	24	16
	257	297	449	1,068	1,042
Total assets	314	327	1,733	1,093	1,059

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	35	-20	-166	72	17
	-2	37	-1,254	664	10
	-32	-17	1,423	-51	-16
Net cash flow	0	0	3	686	11
Free cash flow	34	-20	-166	72	17
CFO / Operating profit %	98.4%	-68.8%	—	—	—

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2025 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Real Estate	17.99	1.7	330.19	157.29	172.9	0.98
Investment (Subsidiary)	2.95	1.1

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	33.6%	37.6%	23.3%	37.7%	36.5%
EBITDA margin %	27.2%	28.2%	-0.7%	-259.2%	-220.2%
EBIT margin %	27.1%	28.1%	-0.8%	-259.8%	-220.8%
PAT margin %	15.7%	17%	-1.5%	-177.4%	-213.1%
Working capital
Receivable days	163	299	290	1,487	1,644
Inventory days	529	680	567	4,109	4,941
Payable days	67	54	11	140	213
NWC days	625	925	845	5,456	6,372
Leverage
Current ratio	2.91	3.22	0.51	12.94	16.51
Debt to EBITDA	2.63	3.12	—	—	—
Debt to equity	0.75	0.64	9.47	0.08	0.07
Interest coverage	2.9	2.7	0.9	-2.5	-9.7
Asset turnover	0.41	0.31	0.06	0.02	0.02
Return ratios
Return on assets %	6.5%	5.3%	-0.1%	-3.3%	-3.6%
Return on capital employed %	18.9%	16.1%	1.7%	-2.6%	-3.4%
Return on equity %	16.5%	12.4%	-1%	-4%	-4.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	1.27%	0.83%	0.83%	0.83%	0.83%	0.83%
	0%	0.19%	0%	0.75%	0.75%	0.37%
DII	0%	0%	0%	0%	0%	0%
	0.01%	0%	0%	0%	0%	0%
	98.72%	98.98%	99.17%	98.42%	98.42%	98.8%
No. of shareholders	2,29,588	2,62,547	2,76,472	3,28,417	3,37,515	3,45,709

Promoter holding down 0.44 percentage points since Sep 2024.

19 deals · 15 Dec 2025 – 31 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
31 Aug 2026	ABDUL AZEEZ KANAKKAYIL	Bulk	NSE	Sell	3,66,07,164	₹0.15	₹0.55 Cr
13 Aug 2026	ABDUL AZEEZ KANAKKAYIL	Bulk	NSE	Buy	2,89,95,713	₹0.16	₹0.46 Cr
12 Aug 2026	ABDUL AZEEZ KANAKKAYIL	Bulk	NSE	Buy	3,15,24,183	₹0.16	₹0.50 Cr
4 Jun 2026	SAHASTRAA ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	2,71,35,657	₹0.17	₹0.46 Cr
4 Jun 2026	SAHASTRAA ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	20,00,000	₹0.16	₹0.03 Cr
3 Jun 2026	ISHAAN TRADEFIN LLP	Bulk	NSE	Sell	5,55,00,000	₹0.16	₹0.89 Cr
1 Jun 2026	NEO APEX SHARE BROKING SERVICES LLP	Bulk	NSE	Buy	3,00,00,000	₹0.14	₹0.42 Cr
12 Mar 2026	DEVI TRADERS LLP	Bulk	NSE	Buy	3,00,00,000	₹0.15	₹0.45 Cr
12 Mar 2026	DEVI TRADERS LLP	Bulk	NSE	Sell	45,02,488	₹0.16	₹0.07 Cr
11 Feb 2026	ABDUL AZEEZ KANAKKAYIL	Bulk	NSE	Sell	6,04,84,100	₹0.18	₹1.09 Cr

1–10 of 19

1 / 2

Mrs. Prachi Aditya SakpalNon-Executive - Independent Director-Chairperson
Mr. Naresh Jagumal KardaExecutive Director
Mr. Sandeep Ravindra ShahNon-Executive - Independent Director
Mrs. Reshma Susan ThomasNon-Executive - Independent Director
Mrs. Anoushka Lutchmee NunkooNon-Executive - Non Independent Director
Mrs. Lea Colcol BonagaExecutive Director
Liyakat KhanChief Financial Officer
Mrs. Nabila Hadia HawailExecutive Director
Mr. Devesh Naresh KardaExecutive Director-MD
Mr. Dipesh B TailorDeputy Chief Financial Officer
Mayura MaratheCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Dharan Infra-Epc Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

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Events

Upcoming dates and the company’s corporate-action history.

2

Face value ₹2 → ₹112 Aug 2021 · ex-date
Face value ₹10 → ₹22 Jul 2020 · ex-date

2

Bonus 1:14 Apr 2025 · ex-date
Bonus 4:112 Aug 2021 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

2 announcementsExport CSV

23 Aug 2026, 12:01 pmCompany Update

Update Regarding Ongoing SEBI Submission Of Information

General PDF

17 Aug 2026, 6:22 pmCompany Update

Disclosure Regarding Ongoing SEBI Investigation And Submission Of Information

General PDF

Date	Category	Subject	Filing
23 Aug 2026, 12:01 pm	Company Update General	Update Regarding Ongoing SEBI Submission Of Information	PDF
17 Aug 2026, 6:22 pm	Company Update General	Disclosure Regarding Ongoing SEBI Investigation And Submission Of Information

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Dharan Infra-Epc Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

2

2

Announcements

2

2

Announcements

Annual reports

Not in the F&O segment

No fund holdings on record

Segment results

Compounded sales growth

Return on equity

Civil Contracting Business · revenue

Dharan Infra-Epc Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Stock splits2

Bonus issues2

Announcements

Stock splits2

Bonus issues2

Announcements

Annual reports

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Return on equity

Civil Contracting Business · revenue

2

2

2

2