Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Dhunseri Ventures Ltd

DVL
Trading

Dhunseri Ventures Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: profits are rising, but only −127% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a downtrend (46 weeks in) while the P/E sits at the 50th percentile of its own 8-year range. Underneath, the last four quarters read improving — profit +145.1% year on year, and −127% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
partial read
Price
₹286
−18.5% 1Y
P/E
5.3×
50th pctile
of its own 8-year range
Revenue (Jun 26)
₹232 Cr
+45.0% YoY
Profit (Jun 26)
₹174 Cr
+145.1% YoY
Operating margin
39.0%
−12.0 pp YoY
ROCE
7%
FY26
ROIC
−0.1%
vs WACC 12.0% → −12.1 pp
Cash conversion
−127%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Dhunseri Ventures Ltd trades at ₹286, in a downtrend and 46 weeks into that stage. That is +7.3% against its own 200-day average. It sits at 66% of a 52-week range of ₹194 to ₹334. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks.

Today the stock is in a downtrend — week 46 of stage 4. At ₹286 it trades +7.3% versus its 200-day average and sits at 66% of its 52-week range (₹194–₹334).

Sep 26: ₹286 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+7.3% versus the 200-day line, week 46 of stage 4
Price50-day avg200-day avg
S2S4S4₹531₹440₹350₹260₹169₹286₹267Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S4₹531₹440₹350₹260₹169₹286₹267Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2019 Each cell is one week from 2019 to now (407 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Jan 19Sep 26

Against the market, two honest reads. Cumulative: over the last 7.7 years the stock moved +168% while the NIFTY 500 moved +151% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 6 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Dhunseri Ventures Ltd trades at 5.3× P/E, mid-range by its own standards (50th percentile). Its long-run median P/E is 5.2×, measured across 7.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 5.3× is mid-range by its own standards (50th percentile), against a long-run median of 5.2× measured over 7.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 5.3× vs a 5.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 7.7-year window; loss-period spikes above 16× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (50th percentile)
P/EMedianEPS (TTM) (quarterly)
16.7×₹18412.6×₹1388.4×₹91.94.3×₹45.90.0×₹0.0×5.20×₹55Jan 19Oct 21May 23Dec 24Sep 26
16.7×₹18412.6×₹1388.4×₹91.94.3×₹45.90.0×₹0.0×5.20×₹55Jan 19May 23Sep 26
P/E
5.3×
50th percentile of 8y

Why the multiple sits where it does: over the past year annual EPS moved −36.9% against a −18.5% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the −0.2%/yr price move, ~−10.0%/yr came from earnings growth and ~+9.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Dhunseri Ventures Ltd was paying for profit growth of about 2.4% a year. Today the market pays 5.3× P/E, the 50th percentile of its own 8-year range.

What the two numbers say together. The multiple is unremarkable against its own past, and the growth the price is paying for is the whole of what a buyer is backing.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Dhunseri Ventures Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 7.0% — the per-curve reads carry the story. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue −29.5% in FY26, profit −38.5% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
4,662%81%3,383%−15%2,105%−112%826%−208%−452%−305%%%−29.5%−38.5%FY16FY21FY26
4,662%81%3,383%−15%2,105%−112%826%−208%−452%−305%%%−29.5%−38.5%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue rolling over, profit accelerating
RevenueProfitEPS
160%45%107%3.5%54%−38%0.0%−79%−51%−120%%%−20%31.7%33.4%Sep 23Dec 24Jun 26
160%45%107%3.5%54%−38%0.0%−79%−51%−120%%%−20%31.7%33.4%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
30%24%18%11%5.3%%7%FY23FY24FY26
30%24%18%11%5.3%%7%FY23FY24FY26
Revenue growth
Recovering
latest −20.0% · span −36.6% to +145.0%
Profit growth
Flat
latest +31.7% · span −109.0% to +31.7%
EPS growth
Flat
latest +33.4% · span −108.0% to +33.4%
ROCE
Falling
latest 7.0% · span 7.0%–28.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−29.5%+17.0%+15.4%+30.0%
Profit−38.5%−45.4%−17.7%
EPS−36.9%−44.9%−17.1%
Share price−18.5%+1.8%−0.2%
Revenue YoY (Jun 26)
+45.0%
latest quarter vs a year ago
Profit YoY (Jun 26)
+145.1%
latest quarter vs a year ago
Revenue 10y
30.0%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

46.8/100 — rank 23 of 52 in Trading · 87% evidence confidence

Dhunseri Ventures Ltd scores 46.8 out of 100 against the 52 companies it is compared with in Trading, ranking 23. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 12.6 + 9.7 + 11.9 + 12.6 = 46.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Dhunseri Ventures Ltd reported ₹232 Cr of revenue in the Jun 26 quarter, +45.0% year on year. Over 10 years it has compounded at 30.0% a year. The last full year, FY26, came in at ₹372 Cr. The last four reported quarters add to ₹444 Cr.

FY26 revenue came in at ₹372 Cr (−29.5% on the year), capping 10 years at 30.0% compound. The latest quarter (Jun 26) printed ₹232 Cr, +45.0% year on year.

FY26 revenue ₹372 Cr (−29.5% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
30.0% a year over 10 years
RevenueYoY growth
1.0k4,662%7863,383%5242,105%262826%0−452%₹ Cr%₹372−29.5%FY16FY21FY26
1.0k4,662%7863,383%5242,105%262826%0−452%₹ Cr%₹372−29.5%FY16FY21FY26
Jun 26: ₹232 Cr (+45.0% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
285331%214228%143125%7121%0−82%₹ Cr%₹23245%Sep 23Dec 24Jun 26
285331%214228%143125%7121%0−82%₹ Cr%₹23245%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged −22.9% growth against the decade's 30.0% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −20.0% over the last 4 quarters against −8.0%/yr over the last 8 — rolling over; TTM profit +31.7% vs +2.4%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Dhunseri Ventures Ltd's operating margin is 39.0% in the Jun 26 quarter, −12.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −112.0% to 72.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 39.0%, −12.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −112.0%–72.0%.

🚨 Why the margin moved: operating margin went −12.1 pp year on year while gross margin went −13.4 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 6.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a −112.0–72.0% band over 13 years
operating marginYoY change (pp)
87%196%33%112%−20%29%−73%−55%−127%−138%%%6%−6%FY14FY20FY26
87%196%33%112%−20%29%−73%−55%−127%−138%%%6%−6%FY14FY20FY26
Jun 26: 39.0% operating margin (−12.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
62%74%22%30%−17%−15%−56%−59%−96%−103%%%39%−12%Sep 23Dec 24Jun 26
62%74%22%30%−17%−15%−56%−59%−96%−103%%%39%−12%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Dhunseri Ventures Ltd earned ₹174 Cr of net profit in the Jun 26 quarter, +145.1% year on year. Full-year FY26 profit was ₹88.0 Cr. That is 75.0% of the quarter's revenue. The same quarter a year earlier earned ₹71.0 Cr. 2 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹174 Cr, +145.1% year on year. On the full year, FY26 printed ₹88.0 Cr (−38.5%).

FY26 profit ₹88.0 Cr (−38.5% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
Net profitYoY growth
61081%395−15%180−112%−36−208%−251−305%₹ Cr%₹88−38.5%FY16FY21FY26
61081%395−15%180−112%−36−208%−251−305%₹ Cr%₹88−38.5%FY16FY21FY26
Jun 26: ₹174 Cr (+145.1% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
195766%119436%44106%−32−224%−108−554%₹ Cr%₹174145.1%Sep 23Dec 24Jun 26
195766%119436%44106%−32−224%−108−554%₹ Cr%₹174145.1%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +45.0% and the margin −12.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −22.5% vs revenue −22.9%. Profit and revenue are moving roughly in step.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −127% of Dhunseri Ventures Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−102 Cr of operating cash against ₹88.0 Cr of profit. After ₹730 Cr of capital spending, ₹−832 Cr was left as free cash.

FY26: operating cash of ₹−102 Cr against reported profit of ₹88.0 Cr, leaving free cash of ₹−832 Cr after ₹730 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −127% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−102 Cr vs profit ₹88.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY16/FY26 reflects an acquisition year — point shown clipped.
−127% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1.4k927428−71−570₹ Cr₹−102₹88₹−432FY16FY21FY26
1.4k927428−71−570₹ Cr₹−102₹88₹−432FY16FY21FY26
FY26: CFO = −116% of profit (three-year rate −127%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
377%99%−179%−457%−735%%−116%FY16FY21FY26
377%99%−179%−457%−735%%−116%FY16FY21FY26

🚨 Why conversion sits at −127%: the cash cycle stretched 79 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 79 days — the next section's job is to find where the cash is stuck.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Dhunseri Ventures Ltd's cash conversion cycle runs 12 days in FY26, up from −67 days in FY21. Capital spending ran ₹883 Cr over the last 3 years. At FY26 sales of ₹372 Cr each day of that cycle holds about ₹1.0 Cr, so roughly ₹12.0 Cr sits inside the business at any moment.

FY26: debtors at 14 days, inventory at 71 days — roughly 2.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 12 days, looser than FY21's −67.

The full loop: cash goes out to suppliers and production on day 0; stock waits 71 days to sell; customers pay about 14 days after that; and suppliers themselves are paid at 73 days — netting out to the 12-day cycle.

In money terms: at FY26 sales of ₹372 Cr, each day of the cycle holds about ₹1.0 Cr — so the 12-day loop keeps roughly ₹12.0 Cr sitting inside the business at any moment.

FY26: a 12-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+79 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
139726−61−128days12d71d14d73dFY14FY17FY20FY23FY26
139726−61−128days12d71d14d73dFY14FY20FY26

On the investment side: capital spending of ₹883 Cr over the last 3 fiscal years against ₹97.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹819 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹730 Cr, work-in-progress ₹819 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
959451−58−566−1.1k₹ Cr₹730₹819FY16FY18FY21FY23FY26
959451−58−566−1.1k₹ Cr₹730₹819FY16FY21FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

11 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Dhunseri Ventures Ltd earns a ROCE of 7% in FY26. That is up from a trough of −5% in FY20. Return on invested capital clears the cost of that capital by −12.1 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 23.7% net margin on 0.08× asset turns.

FY26 ROCE is 7%, recovered from a FY20 trough of −5% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 23.7% net margin × 0.08× asset turns × 1.48× balance-sheet leverage ≈ 2.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −0.1% − 12.0% = a −12.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 7% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY20's −5%
ROCEROIC (annual)WACC
41%29%17%4.0%−8.4%%7%−0.1%FY14FY20FY26
41%29%17%4.0%−8.4%%7%−0.1%FY14FY20FY26
Q4 FY26: ROCE −0.2% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%8.6%3.8%−1.0%−5.7%%−0.2%−1.1%Q1 FY24Q2 FY25Q4 FY26
13%8.6%3.8%−1.0%−5.7%%−0.2%−1.1%Q1 FY24Q2 FY25Q4 FY26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Dhunseri Ventures Ltd carries total debt of ₹952 Cr against shareholder equity of ₹3,288 Cr as of Mar 26, a debt-to-equity of 0.29 — effectively unlevered. On the annual view that ratio went from 0.06 in FY22 to 0.29 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹952 Cr against shareholder equity of ₹3,288 Cr — a debt-to-equity of 0.29. On the annual view, debt-to-equity went from 0.06 (FY22) to 0.29 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹952 Cr at 0.29× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1.0k0.31×7710.24×5140.17×2570.11×00.04×₹ Cr×₹9520.29×FY22FY24FY26
1.0k0.31×7710.24×5140.17×2570.11×00.04×₹ Cr×₹9520.29×FY22FY24FY26
Mar 26: debt ₹952 Cr, debt-to-equity 0.29 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1.0k0.30×7710.25×5140.20×2570.16×00.11×₹ Cr×₹9520.29×Jun 23Sep 24Mar 26
1.0k0.30×7710.25×5140.20×2570.16×00.11×₹ Cr×₹9520.29×Jun 23Sep 24Mar 26
13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Dhunseri Ventures Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +0.0 points over 8 quarters to 75.0%; Foreign institutions: +0.0 points over 8 quarters to 0.6%; Domestic institutions: +0.0 points over 8 quarters to 1.7%.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
81%59%38%16%−5.4%%75%0.6%1.7%22.7%Mar 24Mar 25Mar 26
81%59%38%16%−5.4%%75%0.6%1.7%22.7%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
81%59%38%16%−5.4%%75%0.6%1.7%22.7%Jun 23Dec 24Jun 26
81%59%38%16%−5.4%%75%0.6%1.7%22.7%Jun 23Dec 24Jun 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Dhunseri Ventures Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Trading
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Onix Solar Energy LtdONIXSOLAR 70.9/100Favorable setup69% evidence 28.9/35 Revenue 26.2% · PAT 100% · OPM change 23 pp 95% evidence 18.3/25 ROCE 32% · OPM 30% 76% evidence 10.3/20 P/E 24.4× · PEG — 15% evidence 13.4/20 RS sector 68.4% · RS bench -3.5% · 1Y 49.1%12 of 12 weeks ahead 70% evidence
Exact sum: 28.9 + 18.3 + 10.3 + 13.4 = 70.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Rashi Peripherals LtdRPTECH 69.0/100Favorable setup75% evidence LEADER 24.9/35 Revenue 40.4% · PAT 50.2% · OPM change -0.3 pp 95% evidence 14.7/25 ROCE 17% · OPM 3% 76% evidence 10.7/20 P/E 17.1× · PEG — 15% evidence 18.7/20 RS sector 51.6% · RS bench 69.1% · 1Y 176.9%12 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 14.7 + 10.7 + 18.7 = 69 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Nupur Recyclers LtdNRL 67.9/100Favorable setup87% evidence LEADER 22.5/35 Revenue 40.6% · PAT 29.8% · OPM change 3.6 pp 95% evidence 16.5/25 ROCE 15.1% · OPM 11.6% 95% evidence 9.2/20 P/E 53.6× · PEG — 50% evidence 19.7/20 RS sector 66.4% · RS bench 88.4% · 1Y 89.6%12 of 12 weeks ahead 100% evidence
Exact sum: 22.5 + 16.5 + 9.2 + 19.7 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Magnus Steel & Infra Ltd517320 67.5/100Thin evidence · provisional56% evidence 27.8/35 Revenue 100% · PAT 100% · OPM change 1.6 pp 83% evidence 18.5/25 ROCE 171% · OPM 21.3% 76% evidence 9.2/20 P/E 92.5× · PEG — 15% evidence 12.0/20 RS sector — · RS bench 46.1% · 1Y 1449.6%0 of 1 week ahead to 2026-06-28 25% evidence
Exact sum: 27.8 + 18.5 + 9.2 + 12 = 67.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Vision Infra Equipment Solutions LtdVIESL 67.3/100Thin evidence · provisional56% evidence TURNING 19.0/35 Revenue — · PAT — · OPM change 0 pp 26% evidence 19.8/25 ROCE 22.6% · OPM 26% 95% evidence 10.9/20 P/E 14.9× · PEG — 15% evidence 17.6/20 RS sector 26.9% · RS bench 44.5% · 1Y 122.8%9 of 12 weeks ahead 100% evidence
Exact sum: 19 + 19.8 + 10.9 + 17.6 = 67.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Shankara Buildpro LtdBUILDPRO 63.3/100Mixed-positive evidence63% evidence BREAKING OUT 25.6/35 Revenue 26.3% · PAT 41.9% · OPM change -0.2 pp 100% evidence 17.3/25 ROCE 39% · OPM 3.2% 100% evidence 10.4/20 P/E 22.8× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —8 of 12 weeks ahead 0% evidence
Exact sum: 25.6 + 17.3 + 10.4 + 10 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Ivalue Infosolutions LtdIVALUE 60.4/100Mixed-positive evidence60% evidence ASLEEP 20.6/35 Revenue 5.4% · PAT 22.1% · OPM change 5.6 pp 95% evidence 18.6/25 ROCE 25.4% · OPM 10% 95% evidence 11.2/20 P/E 11.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -19.4%6 of 10 weeks ahead 0% evidence
Exact sum: 20.6 + 18.6 + 11.2 + 10 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Sudarshan Pharma Industries Ltd543828 60.3/100Mixed-positive evidence82% evidence LEADER 20.9/35 Revenue 32.9% · PAT 24.3% · OPM change 1.5 pp 95% evidence 13.6/25 ROCE 15.1% · OPM 9.1% 76% evidence 8.9/20 P/E 39.2× · PEG — 50% evidence 16.9/20 RS sector 17.5% · RS bench 33.4% · 1Y 25.2%12 of 12 weeks ahead 100% evidence
Exact sum: 20.9 + 13.6 + 8.9 + 16.9 = 60.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Euro Pratik Sales LtdEUROPRATIK 59.9/100Mixed-positive evidence73% evidence ASLEEP 15.1/35 Revenue 23.9% · PAT 29% · OPM change -8 pp 100% evidence 19.5/25 ROCE 38.4% · OPM 26% 100% evidence 15.3/20 P/E 29.1× · PEG 0.62 65% evidence 10.0/20 RS sector — · RS bench — · 1Y 4.7%6 of 10 weeks ahead 0% evidence
Exact sum: 15.1 + 19.5 + 15.3 + 10 = 59.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
10Tembo Global Industries LtdTEMBO 59.0/100Mixed-positive evidence80% evidence TURNING 22.2/35 Revenue 34% · PAT 55.7% · OPM change 5 pp 95% evidence 18.4/25 ROCE 22.8% · OPM 16% 95% evidence 11.3/20 P/E 10.2× · PEG — 15% evidence 7.1/20 RS sector -17.4% · RS bench -4.5% · 1Y -10.2%2 of 12 weeks ahead 100% evidence
Exact sum: 22.2 + 18.4 + 11.3 + 7.1 = 59 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Mangalam Global Enterprise LtdMGEL 58.7/100Mixed-positive evidence80% evidence 25.7/35 Revenue 41.4% · PAT 100% · OPM change 0.5 pp 95% evidence 15.8/25 ROCE 17% · OPM 1.9% 95% evidence 11.1/20 P/E 13× · PEG — 15% evidence 6.1/20 RS sector -14.5% · RS bench -0.2% · 1Y -3.5%6 of 7 weeks ahead to 2026-08-09 100% evidence
Exact sum: 25.7 + 15.8 + 11.1 + 6.1 = 58.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.5% and the one-year return is -3.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
12Arisinfra Solutions LtdARIS 57.6/100Mixed-positive evidence65% evidence TURNING 22.0/35 Revenue 45.3% · PAT 100% · OPM change 2 pp 95% evidence 15.1/25 ROCE 15.6% · OPM 11% 95% evidence 10.8/20 P/E 15.5× · PEG — 15% evidence 9.7/20 RS sector — · RS bench -1.2% · 1Y -12.3%4 of 10 weeks ahead 25% evidence
Exact sum: 22 + 15.1 + 10.8 + 9.7 = 57.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Aayush Art and Bullion Ltd540718 56.4/100Thin evidence · provisional54% evidence BREAKING OUT 21.2/35 Revenue 100% · PAT — · OPM change 1.6 pp 35% evidence 13.2/25 ROCE 18.9% · OPM 6% 76% evidence 8.9/20 P/E 245× · PEG — 15% evidence 13.1/20 RS sector -1.1% · RS bench 13.5% · 1Y 29.2%3 of 12 weeks ahead 100% evidence
Exact sum: 21.2 + 13.2 + 8.9 + 13.1 = 56.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14Patel Retail LtdPATELRMART 53.8/100Mixed-positive evidence65% evidence ASLEEP 18.1/35 Revenue 42.3% · PAT 59.7% · OPM change -2.2 pp 95% evidence 14.3/25 ROCE 15.3% · OPM 6.1% 95% evidence 10.8/20 P/E 16.9× · PEG — 15% evidence 10.6/20 RS sector — · RS bench 2.8% · 1Y -18.4%5 of 10 weeks ahead 25% evidence
Exact sum: 18.1 + 14.3 + 10.8 + 10.6 = 53.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Prostarm Info Systems LtdPROSTARM 52.0/100Mixed-positive evidence65% evidence BASING 17.1/35 Revenue 30.5% · PAT 19.1% · OPM change 1.4 pp 95% evidence 16.1/25 ROCE 18% · OPM 8.5% 95% evidence 10.5/20 P/E 22× · PEG — 15% evidence 8.3/20 RS sector — · RS bench -12.2% · 1Y -35.5%0 of 10 weeks ahead 25% evidence
Exact sum: 17.1 + 16.1 + 10.5 + 8.3 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Fabtech Technologies LtdFABTECH 50.8/100Thin evidence · provisional52% evidence TURNING 17.5/35 Revenue 14.2% · PAT 41% · OPM change 14.8 pp 71% evidence 12.3/25 ROCE 13.6% · OPM 5.7% 95% evidence 11.0/20 P/E 13.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 17.5 + 12.3 + 11 + 10 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17Lloyds Enterprises LtdLLOYDSENT 50.3/100Mixed-positive evidence75% evidence TURNING 18.1/35 Revenue 33% · PAT -21.4% · OPM change 9 pp 95% evidence 11.3/25 ROCE 3.7% · OPM 16% 76% evidence 9.1/20 P/E 93.3× · PEG — 15% evidence 11.8/20 RS sector -5% · RS bench 8.7% · 1Y -6%10 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 11.3 + 9.1 + 11.8 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18BMW Ventures LtdBMW 50.0/100Thin evidence · provisional55% evidence 16.9/35 Revenue 18.5% · PAT 24.2% · OPM change -0.6 pp 95% evidence 11.9/25 ROCE 12% · OPM 3.4% 76% evidence 11.2/20 P/E 12.2× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -18.7%0 of 10 weeks ahead 0% evidence
Exact sum: 16.9 + 11.9 + 11.2 + 10 = 50 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19SG Mart LtdSGMART 48.9/100Mixed-negative evidence93% evidence LEADER 13.9/35 Revenue 10.4% · PAT 14.7% · OPM change 1.4 pp 100% evidence 8.6/25 ROCE 10.2% · OPM 4.5% 100% evidence 8.2/20 P/E 76.1× · PEG 1.92 65% evidence 18.2/20 RS sector 34.9% · RS bench 51.7% · 1Y 106.8%12 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 8.6 + 8.2 + 18.2 = 48.9 · Decision use: Price leads the evidence: RS versus the benchmark is 51.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
20Bizotic Commercial Ltd543926 48.7/100Thin evidence · provisional58% evidence BASING 19.8/35 Revenue — · PAT — · OPM change 0 pp 26% evidence 18.6/25 ROCE 26.8% · OPM 8% 76% evidence 9.7/20 P/E 34.1× · PEG — 50% evidence 0.6/20 RS sector -86.7% · RS bench -18.3% · 1Y -72.4%0 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 18.6 + 9.7 + 0.6 = 48.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
21Yogi LtdYOGI 47.9/100Thin evidence · provisional58% evidence 20.3/35 Revenue 97.5% · PAT 68.1% · OPM change -5.9 pp 62% evidence 9.9/25 ROCE 12.8% · OPM 2.6% 76% evidence 9.5/20 P/E 54.1× · PEG — 15% evidence 8.2/20 RS sector -6.5% · RS bench -2.1% · 1Y -11.1%2 of 12 weeks ahead 70% evidence
Exact sum: 20.3 + 9.9 + 9.5 + 8.2 = 47.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Shiv Aum Steels LtdSHIVAUM 47.4/100Thin evidence · provisional55% evidence BREAKING OUT 16.9/35 Revenue — · PAT — · OPM change 1.3 pp 45% evidence 11.4/25 ROCE 8% · OPM 4.7% 95% evidence 7.2/20 P/E 66.8× · PEG — 50% evidence 11.9/20 RS sector — · RS bench 38.3% · 1Y —6 of 6 weeks ahead 25% evidence
Exact sum: 16.9 + 11.4 + 7.2 + 11.9 = 47.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23Dhunseri Ventures Ltdthis pageDVL 46.8/100Mixed-negative evidence87% evidence BREAKING OUT 12.6/35 Revenue -20% · PAT 31.7% · OPM change -12 pp 95% evidence 9.7/25 ROCE 6.7% · OPM 39% 95% evidence 11.9/20 P/E 5.3× · PEG — 50% evidence 12.6/20 RS sector -7.1% · RS bench 8% · 1Y -14.9%7 of 12 weeks ahead 100% evidence
Exact sum: 12.6 + 9.7 + 11.9 + 12.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Adani Enterprises LtdADANIENT 45.5/100Mixed-negative evidence93% evidence TURNING 14.3/35 Revenue 18.1% · PAT 4.2% · OPM change 0 pp 100% evidence 8.5/25 ROCE 5.8% · OPM 15% 100% evidence 7.7/20 P/E 174× · PEG 1.96 65% evidence 15.0/20 RS sector 8.6% · RS bench 23.9% · 1Y 38.4%10 of 12 weeks ahead 100% evidence
Exact sum: 14.3 + 8.5 + 7.7 + 15 = 45.5 · Decision use: Price leads the evidence: RS versus the benchmark is 23.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
25MMTC LtdMMTC 44.8/100Mixed-negative evidence96% evidence ASLEEP 15.1/35 Revenue 0% · PAT 100% · OPM change -1270 pp 100% evidence 8.0/25 ROCE 8.7% · OPM — 84% evidence 15.3/20 P/E 46.1× · PEG 0.92 100% evidence 6.4/20 RS sector -14.9% · RS bench -1.9% · 1Y -4.1%3 of 12 weeks ahead 100% evidence
Exact sum: 15.1 + 8 + 15.3 + 6.4 = 44.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
26State Trading Corporation of India LtdSTCINDIA 42.5/100Mixed-negative evidence67% evidence ASLEEP 19.6/35 Revenue — · PAT 100% · OPM change -14.6 pp 67% evidence 5.6/25 ROCE -0.9% · OPM — 80% evidence 11.9/20 P/E 14× · PEG — 50% evidence 5.4/20 RS sector -28.7% · RS bench -5.6% · 1Y -5.6%2 of 11 weeks ahead 70% evidence
Exact sum: 19.6 + 5.6 + 11.9 + 5.4 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27RRP Semiconductor LtdRRP 41.1/100Thin evidence · provisional54% evidence 11.4/35 Revenue -80% · PAT -80% · OPM change 3.3 pp 71% evidence 5.4/25 ROCE -32.7% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 14.3/20 RS sector 65.3% · RS bench 0.8% · 1Y 66.5%0 of 1 week ahead 70% evidence
Exact sum: 11.4 + 5.4 + 10 + 14.3 = 41.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28Cropster Agro Ltd523105 40.7/100Mixed-negative evidence65% evidence 16.0/35 Revenue 28.4% · PAT 6.5% · OPM change 2.1 pp 83% evidence 11.3/25 ROCE 12.4% · OPM 8.7% 76% evidence 10.1/20 P/E 31× · PEG — 15% evidence 3.3/20 RS sector -72.7% · RS bench -62.7% · 1Y -83.2%0 of 1 week ahead to 2026-08-09 70% evidence
Exact sum: 16 + 11.3 + 10.1 + 3.3 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Hexa Tradex LtdHEXATRADEX 40.3/100Mixed-negative evidence65% evidence BASING 17.2/35 Revenue 0.4% · PAT 70.3% · OPM change 13.6 pp 71% evidence 6.1/25 ROCE -0.1% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 7.0/20 RS sector -16.8% · RS bench -3.7% · 1Y -12.7%0 of 12 weeks ahead 100% evidence
Exact sum: 17.2 + 6.1 + 10 + 7 = 40.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30Hardwyn India LtdHARDWYN 40.2/100Mixed-negative evidence87% evidence ASLEEP 13.8/35 Revenue 2.6% · PAT -8.5% · OPM change -0.2 pp 95% evidence 12.5/25 ROCE 4.8% · OPM 13% 95% evidence 12.1/20 P/E 50.6× · PEG — 50% evidence 1.8/20 RS sector -38.3% · RS bench -29.5% · 1Y -3.4%3 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 12.5 + 12.1 + 1.8 = 40.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
31Blue Pearl Agriventures LtdBPAGRI 39.8/100Mixed-negative evidence69% evidence 20.5/35 Revenue 19.3% · PAT 59.1% · OPM change 0.3 pp 95% evidence 6.3/25 ROCE 2.2% · OPM 3.3% 76% evidence 8.7/20 P/E 514× · PEG — 15% evidence 4.3/20 RS sector -33.5% · RS bench -82.5% · 1Y -91.2%1 of 12 weeks ahead 70% evidence
Exact sum: 20.5 + 6.3 + 8.7 + 4.3 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Pervasive Commodities Ltd517172 38.3/100Thin evidence · provisional52% evidence 12.7/35 Revenue 25.6% · PAT -8.3% · OPM change -6.1 pp 95% evidence 5.6/25 ROCE 0% · OPM -10.2% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 12.7 + 5.6 + 10 + 10 = 38.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
33Riddhi Siddhi Gluco Biols Ltd524480 38.0/100Mixed-negative evidence82% evidence FADING 12.4/35 Revenue -38% · PAT 38.4% · OPM change -2.8 pp 95% evidence 6.6/25 ROCE 2.7% · OPM -3% 76% evidence 6.5/20 P/E 37.3× · PEG — 50% evidence 12.5/20 RS sector 10.5% · RS bench 25.4% · 1Y 33.5%9 of 12 weeks ahead 100% evidence
Exact sum: 12.4 + 6.6 + 6.5 + 12.5 = 38 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
34PTC India LtdPTC 36.6/100Mixed-negative evidence82% evidence BASING 11.2/35 Revenue 13.3% · PAT -43.1% · OPM change -3.9 pp 95% evidence 12.6/25 ROCE 13.4% · OPM 3.1% 76% evidence 9.7/20 P/E 8.8× · PEG — 50% evidence 3.1/20 RS sector -21.6% · RS bench -9.8% · 1Y -13%0 of 12 weeks ahead 100% evidence
Exact sum: 11.2 + 12.6 + 9.7 + 3.1 = 36.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Neueon Corporation LtdNEUEON 35.6/100Thin evidence · provisional59% evidence ASLEEP 9.1/35 Revenue 17.8% · PAT -80% · OPM change -1039 pp 71% evidence 3.7/25 ROCE -40.4% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 12.8/20 RS sector 12.7% · RS bench -1.5% · 1Y —1 of 12 weeks ahead 70% evidence
Exact sum: 9.1 + 3.7 + 10 + 12.8 = 35.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
36Kothari Industrial Corporation LtdKOTIC 34.2/100Adverse evidence63% evidence BASING 18.8/35 Revenue 75.9% · PAT -80% · OPM change -41.8 pp 71% evidence 1.6/25 ROCE -28.9% · OPM -43% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 3.8/20 RS sector -58.6% · RS bench -43.5% · 1Y -77.5%0 of 9 weeks ahead 70% evidence
Exact sum: 18.8 + 1.6 + 10 + 3.8 = 34.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Shanti Overseas (India) LtdSHANTI 32.3/100Thin evidence · provisional56% evidence 11.2/35 Revenue -63.4% · PAT 100% · OPM change -200.5 pp 40% evidence 4.5/25 ROCE -25.2% · OPM -216.5% 71% evidence 13.1/20 P/E 3× · PEG — 50% evidence 3.5/20 RS sector -60.4% · RS bench -49.7% · 1Y -47.1%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 11.2 + 4.5 + 13.1 + 3.5 = 32.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
38BN Agrochem LtdBNAGROCHEM 32.2/100Adverse evidence77% evidence ASLEEP 12.9/35 Revenue 84.5% · PAT -61% · OPM change -9.4 pp 100% evidence 4.4/25 ROCE 4.4% · OPM 2.3% 100% evidence 9.0/20 P/E 117× · PEG — 15% evidence 5.9/20 RS sector -16.7% · RS bench -35.6% · 1Y -46.5%4 of 10 weeks ahead 70% evidence
Exact sum: 12.9 + 4.4 + 9 + 5.9 = 32.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39Uniphos Enterprises LtdUNIENTER 30.4/100Adverse evidence69% evidence BASING 12.6/35 Revenue -77.1% · PAT 100% · OPM change -0.9 pp 71% evidence 4.6/25 ROCE 0.8% · OPM — 80% evidence 8.8/20 P/E 31.4× · PEG — 50% evidence 4.4/20 RS sector -43.6% · RS bench -22% · 1Y -41%1 of 10 weeks ahead 70% evidence
Exact sum: 12.6 + 4.6 + 8.8 + 4.4 = 30.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
40Oswal Agro Mills LtdOSWALAGRO 24.7/100Adverse evidence67% evidence 2.8/35 Revenue -80% · PAT -80% · OPM change -21782.3 pp 95% evidence 7.8/25 ROCE 2% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 4.1/20 RS sector -50.3% · RS bench -32% · 1Y -49.6%0 of 6 weeks ahead to 2026-08-16 70% evidence
Exact sum: 2.8 + 7.8 + 10 + 4.1 = 24.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
41Mardia Samyoung Capillary Tubes Company LtdMSCTC 56.9/100Thin evidence · provisional32% evidence 20.8/35 Revenue 100% · PAT 100% · OPM change — 29% evidence 15.2/25 ROCE 22.6% · OPM 15.3% 57% evidence 8.6/20 P/E 687× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 74.6% · 1Y 93.7%6 of 12 weeks ahead to 2026-03-08 25% evidence
Exact sum: 20.8 + 15.2 + 8.6 + 12.3 = 56.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
42Proventus Agrocom LtdPROV 56.7/100Thin evidence · provisional48% evidence BREAKING OUT 19.6/35 Revenue — · PAT — · OPM change 0.2 pp 26% evidence 12.4/25 ROCE 11.5% · OPM 1.8% 95% evidence 13.1/20 P/E 42.8× · PEG — 50% evidence 11.6/20 RS sector — · RS bench 26.9% · 1Y —12 of 12 weeks ahead 25% evidence
Exact sum: 19.6 + 12.4 + 13.1 + 11.6 = 56.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43DC Infotech & Communication LtdDCI 56.3/100Thin evidence · provisional35% evidence 18.6/35 Revenue — · PAT — · OPM change 0.3 pp 24% evidence 17.6/25 ROCE 22.9% · OPM 4.7% 76% evidence 10.6/20 P/E 20.4× · PEG — 15% evidence 9.5/20 RS sector — · RS bench -1.6% · 1Y — 25% evidence
Exact sum: 18.6 + 17.6 + 10.6 + 9.5 = 56.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
44SK Minerals & Additives Ltd544584 55.8/100Thin evidence · provisional36% evidence TURNING 16.6/35 Revenue — · PAT — · OPM change 1.3 pp 39% evidence 19.0/25 ROCE 26.2% · OPM 10.7% 76% evidence 10.2/20 P/E 29.5× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —3 of 4 weeks ahead 0% evidence
Exact sum: 16.6 + 19 + 10.2 + 10 = 55.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
45Monika Alcobev LtdMONIKA 54.0/100Thin evidence · provisional22% evidence 16.4/35 Revenue — · PAT — · OPM change -2 pp 15% evidence 17.0/25 ROCE 21% · OPM 15% 57% evidence 10.6/20 P/E 20.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -10.9%0 of 12 weeks ahead to 2026-03-08 0% evidence
Exact sum: 16.4 + 17 + 10.6 + 10 = 54 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
46Shah Foods Ltd519031 53.6/100Thin evidence · provisional18% evidence TURNING 17.1/35 Revenue — · PAT — · OPM change -10.7 pp 7% evidence 15.3/25 ROCE — · OPM 18% 30% evidence 8.8/20 P/E 276× · PEG — 15% evidence 12.4/20 RS sector — · RS bench 103.9% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 17.1 + 15.3 + 8.8 + 12.4 = 53.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
47Pramara Promotions LtdPRAMARA 51.7/100Thin evidence · provisional47% evidence 16.6/35 Revenue — · PAT — · OPM change -1 pp 15% evidence 13.9/25 ROCE 15.2% · OPM 15% 71% evidence 6.9/20 P/E 51.3× · PEG — 50% evidence 14.3/20 RS sector 7.9% · RS bench 29% · 1Y 34.5%10 of 12 weeks ahead to 2026-04-19 70% evidence
Exact sum: 16.6 + 13.9 + 6.9 + 14.3 = 51.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
48Manbro Industries Ltd512595 50.9/100Thin evidence · provisional22% evidence 18.3/35 Revenue — · PAT — · OPM change 32.8 pp 5% evidence 13.1/25 ROCE — · OPM 6.6% 23% evidence 10.0/20 P/E — · PEG — 0% evidence 9.5/20 RS sector -17.3% · RS bench 37.2% · 1Y 62.6%12 of 12 weeks ahead to 2026-05-03 70% evidence
Exact sum: 18.3 + 13.1 + 10 + 9.5 = 50.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
49Le Merite Exports LtdLEMERITE 47.2/100Thin evidence · provisional40% evidence 18.9/35 Revenue — · PAT — · OPM change 0.9 pp 15% evidence 9.1/25 ROCE 8.6% · OPM 2.8% 71% evidence 9.3/20 P/E 87× · PEG — 15% evidence 9.9/20 RS sector -9% · RS bench 15% · 1Y 28.1%2 of 12 weeks ahead to 2026-05-17 70% evidence
Exact sum: 18.9 + 9.1 + 9.3 + 9.9 = 47.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
50Satani Bearings Ltd505703 45.2/100Thin evidence · provisional38% evidence TURNING 20.5/35 Revenue — · PAT 100% · OPM change — 33% evidence 4.7/25 ROCE 1% · OPM -3.7% 76% evidence 8.6/20 P/E 5197× · PEG — 15% evidence 11.4/20 RS sector — · RS bench 24.9% · 1Y 176.6%1 of 11 weeks ahead 25% evidence
Exact sum: 20.5 + 4.7 + 8.6 + 11.4 = 45.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
51Keto Motors Ltd537392 43.3/100Thin evidence · provisional38% evidence TURNING 16.3/35 Revenue — · PAT 100% · OPM change — 33% evidence 6.0/25 ROCE -0.3% · OPM 10.7% 76% evidence 8.5/20 P/E 7503× · PEG — 15% evidence 12.5/20 RS sector — · RS bench 272.8% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 16.3 + 6 + 8.5 + 12.5 = 43.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
52A-1 LtdA1L 41.0/100Thin evidence · provisional50% evidence 16.2/35 Revenue 8.3% · PAT -30.6% · OPM change -0.9 pp 53% evidence 10.7/25 ROCE 10.6% · OPM 2.9% 57% evidence 8.8/20 P/E 383× · PEG — 15% evidence 5.3/20 RS sector -24.5% · RS bench -16% · 1Y -8.6%6 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 16.2 + 10.7 + 8.8 + 5.3 = 41 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Dhunseri Ventures Ltd's share price today?

Dhunseri Ventures Ltd trades at ₹286, −18.5% over the past year. The company is valued at ₹1,002 Cr. The stock sits at 66% of its 52-week range of ₹194–₹334, +7.3% versus its 200-day average. On the tape, the price is in a downtrend, 46 weeks in. — as of 11 September 2026.

What were Dhunseri Ventures Ltd's latest quarterly results?

Dhunseri Ventures Ltd reported revenue of ₹232 Cr and net profit of ₹174 Cr for the Jun 26 quarter. Revenue rose 45.0% and profit rose 145.1% year on year. Earnings per share were ₹49.80. The operating margin was 39.0%, 12.0 pp lower than a year earlier. — as of 11 September 2026.

What is Dhunseri Ventures Ltd's revenue?

Dhunseri Ventures Ltd reported revenue of ₹232 Cr in the Jun 26 quarter, +45.0% year on year. For the full FY26 fiscal year, revenue was ₹372 Cr (−29.5%). Over the last 10 years revenue compounded at 30.0% a year. — as of 11 September 2026.

What is Dhunseri Ventures Ltd's profit?

Dhunseri Ventures Ltd earned ₹174 Cr of net profit in the Jun 26 quarter, +145.1% year on year. Full-year FY26 profit was ₹88.0 Cr. The operating margin ran 39.0% in the latest quarter. — as of 11 September 2026.

What is Dhunseri Ventures Ltd's market cap?

Dhunseri Ventures Ltd's market capitalisation is ₹1,002 Cr at a share price of ₹286. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Dhunseri Ventures Ltd's P/E ratio?

Dhunseri Ventures Ltd trades at a P/E of 5.3×, at the 50th percentile of its own 8-year range, against a long-run median of 5.2×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Dhunseri Ventures Ltd pay a dividend?

Yes — Dhunseri Ventures Ltd's dividend payout was 52% of profit in FY26, and it recorded a payout in 10 of its last 13 reported fiscal years. 3 of those years show a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Dhunseri Ventures Ltd overvalued?

On its own history, Dhunseri Ventures Ltd looks mid-range: its P/E of 5.3× sits at the 50th percentile of its 8-year range (long-run median 5.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Dhunseri Ventures Ltd growing?

Yes — Dhunseri Ventures Ltd is growing: latest-quarter revenue +45.0% year on year, profit +145.1%, and the margin −12.0 pp at 39.0%. The earnings engine currently reads: improving — as of 11 September 2026.

How is Dhunseri Ventures Ltd performing?

Dhunseri Ventures Ltd is in a downtrend, 46 weeks in. Its latest quarter's revenue rose 45.0% and profit rose 145.1% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Dhunseri Ventures Ltd in?

Mixed — no clean majority across the growth curves, ROCE slipping at 7.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth −20.0% latest, profit growth +31.7% latest, eps growth +33.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Dhunseri Ventures Ltd in an uptrend?

No — the price is in a downtrend (week 46 of stage 4), trading +7.3% versus its 200-day average and at 66% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Dhunseri Ventures Ltd beating the market?

On recent form, yes — Dhunseri Ventures Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.7 years the stock moved +168% against the NIFTY 500's +151% — ahead of the index over the full window. — as of 11 September 2026.

Will Dhunseri Ventures Ltd's share price go up?

This page publishes no price forecast for Dhunseri Ventures Ltd. What it measures instead: the share price is ₹286, the price is in a downtrend 46 weeks in. Its P/E of 5.3× sits at the 50th percentile of its own 8-year range. — as of 11 September 2026.

Who owns Dhunseri Ventures Ltd?

Promoters hold 75.0% of Dhunseri Ventures Ltd, foreign institutions 0.6%, domestic institutions 1.7% and the public 22.7% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does Dhunseri Ventures Ltd have too much debt?

No — Dhunseri Ventures Ltd's debt-to-equity is 0.29, and operating profit covers the interest bill 0×. FY26 borrowings were ₹952 Cr against equity of ₹3,288 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is Dhunseri Ventures Ltd's capex?

Dhunseri Ventures Ltd spent ₹883 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹730 Cr, with ₹819 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Dhunseri Ventures Ltd's cash flow?

Dhunseri Ventures Ltd consumed ₹102 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−832 Cr). Operating cash was negative while the company reported a profit of ₹88.0 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Dhunseri Ventures Ltd's profit real cash?

No — operating cash was negative over the last 3 fiscal years: Dhunseri Ventures Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−102 Cr against reported profit of ₹88.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.

Where is Dhunseri Ventures Ltd in its business cycle?

Dhunseri Ventures Ltd's FY26 operating margin was 6.0%, against a 13-year band of −112.0%–72.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 39.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does Dhunseri Ventures Ltd's price assume?

At its price on 13 June 2026, Dhunseri Ventures Ltd was priced for profit growth of about 2.4% a year. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Dhunseri Ventures Ltd story?

The sharpest disagreement: profits are rising, but only −127% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Dhunseri Ventures Ltd a stock worth studying right now?

This is not investment advice. The machine read: Dhunseri Ventures Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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