Dharni Capital

  • Market Cap: Micro Cap
  • Industry: Capital Markets
  • ISIN: INE0M9Q01011
  • NSEID:
  • BSEID: 543753
INR
61.21
0.00 (0.00%)
BSENSE

Jan 21

BSE+NSE Vol: 9000

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  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

9.0 k (36.36%) Volume

Shareholding (Dec 2025)

FII

0.00%

Held by 0 FIIs

DII

0.00%

Held by 0 DIIs

Promoter

73.64%

Who are the top shareholders of the Dharni Capital?

06-Jun-2025

The top shareholder of Dharni Capital is Hemant Dharnidharka, who holds 68.48% of the shares. The highest public shareholder is Prithvi Raj Singh Huf at 4.92%, with individual investors collectively owning 20%.

The top shareholders of Dharni Capital are primarily the promoters, with Hemant Dharnidharka holding the largest share at 68.48%. There are no pledged promoter holdings, and the company does not have any mutual funds or foreign institutional investors (FIIs) holding shares. The highest public shareholder is Prithvi Raj Singh Huf, who owns 4.92%. Additionally, individual investors collectively hold 20% of the shares.

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how big is Dharni Capital?

06-Jun-2025

As of Jun 06, Dharni Capital Services Ltd has a market capitalization of 108.00 Cr, classifying it as a Micro Cap company. There is no available financial data for the latest four quarters, but as of Mar'24, shareholder's funds are valued at 17.31 Cr, with total assets of 19.16 Cr.

Market Cap: As of Jun 06, Dharni Capital Services Ltd has a market capitalization of 108.00 Cr, which classifies it as a Micro Cap company.<BR><BR>Recent Quarterly Performance: There is no valid Consolidated or Standalone financial data available for the latest four quarters, including Net Sales and Net Profit.<BR><BR>Balance Sheet Snapshot: This is Consolidated data for the reporting period of Mar'24. The Shareholder's Funds are valued at 17.31 Cr, and the Total Assets amount to 19.16 Cr.

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When is the next results date for Dharni Capital?

06-Jun-2025

No Upcoming Board Meetings

Has Dharni Capital declared dividend?

06-Jun-2025

No Dividend History Available

Who are the peers of the Dharni Capital?

03-Jun-2025

Dharni Capital's peers include HDFC AMC, Motil.Oswal.Fin., Nippon Life Ind., and others. In terms of management risk and growth, HDFC AMC and Nippon Life Ind. excel, while Dharni Capital shows average growth and a 1-year return of 20.91%.

Peers: The peers of Dharni Capital are HDFC AMC, Motil.Oswal.Fin., Nippon Life Ind., 360 ONE, DB Intl.Stock, Asit C Mehta Fin, Joindre Capital, 21st Cent. Mgmt., and Mefcom Capital.<BR><BR>Quality Snapshot: Excellent management risk is observed at HDFC AMC, Nippon Life Ind., 360 ONE, and Dharni Capital, while Good management risk is found at Motil.Oswal.Fin. and BSE. Average management risk is noted at 21st Cent. Mgmt., while Below Average management risk is seen at DB Intl.Stock, Asit C Mehta Fin, Joindre Capital, and the rest. Growth is Excellent at HDFC AMC, Motil.Oswal.Fin., Nippon Life Ind., and Joindre Capital, while Average growth is found at Dharni Capital, 360 ONE, and Mefcom Capital. Below Average growth is observed at Asit C Mehta Fin, and the rest. Capital Structure is Excellent at HDFC AMC, Nippon Life Ind., 360 ONE, and the rest, while Below Average is noted at Asit C Mehta Fin.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Motil.Oswal.Fin. at 37.13%, while the lowest is DB Intl.Stock at -37.65%. Dharni Capital's 1-year return is 20.91%, which is higher than DB Intl.Stock but lower than Motil.Oswal.Fin. Additionally, DB Intl.Stock, Asit C Mehta Fin, and Mefcom Capital have negative six-month returns.

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What is the technical trend for Dharni Capital?

09-Jun-2025

As of June 6, 2025, Dharni Capital's technical trend is bullish, supported by positive indicators from the MACD, moving averages, and OBV, although caution is advised due to a mildly bearish signal from Dow Theory on the weekly chart.

As of 6 June 2025, the technical trend for Dharni Capital has changed from mildly bullish to bullish. The weekly MACD is bullish, supporting the positive trend, while the daily moving averages also indicate a bullish stance. The Bollinger Bands are bullish on both the weekly and monthly time frames, further reinforcing the upward momentum. The On-Balance Volume (OBV) is bullish on both weekly and monthly charts, indicating strong buying pressure. However, the Dow Theory shows a mildly bearish stance on the weekly chart, which suggests some caution. Overall, the current technical stance is bullish with strong indicators, particularly from MACD, moving averages, and OBV.

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Who are in the management team of Dharni Capital?

16-Jul-2025

As of March 2023, the management team of Dharni Capital includes Hemant Dharnidharka (Chairman & Managing Director), Preeti Saraogi (Non Executive Director), Jaideep Mittra (Independent Non Executive Director), and Vinay Agarwal (Independent Non Executive Director).

As of March 2023, the management team of Dharni Capital includes:<BR><BR>- Hemant Dharnidharka, who serves as the Chairman & Managing Director.<BR>- Preeti Saraogi, who is a Non Executive Director.<BR>- Jaideep Mittra, who holds the position of Independent Non Executive Director.<BR>- Vinay Agarwal, also an Independent Non Executive Director.

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What does Dharni Capital do?

17-Jul-2025

Dharni Capital Services Ltd is a micro-cap company in the capital markets industry, incorporated in 2015 and converted to a public limited company in 2022. It has a market cap of INR 111 Cr, with a P/E ratio of 36.00 and a return on equity of 18.79%.

Overview:<BR>Dharni Capital Services Ltd operates in the capital markets industry and is categorized as a micro-cap company.<BR><BR>History:<BR>Dharni Capital Services Ltd was incorporated in 2015 as Dharni Online Services Private Limited. The company changed its name to Dharni Capital Services Private Limited on March 28, 2022, and subsequently converted to a public limited company on April 26, 2022, with the name changing to Dharni Capital Services Limited on May 17, 2022. Revenue and profit data for the latest quarter are not available.<BR><BR>Financial Snapshot:<BR>Most recent Net Sales: N/A<BR>Most recent Net Profit: N/A<BR>Market-cap value: INR 111 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 36.00<BR>Industry P/E: 23<BR>Dividend Yield: 0.00%<BR>Debt-Equity: 0.00<BR>Return on Equity: 18.79%<BR>Price-to-Book: 6.49<BR><BR>Contact Details:<BR>Registrar Address: Not available.

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How has been the historical performance of Dharni Capital?

06-Nov-2025

Dharni Capital's historical performance shows fluctuating trends, with net sales rising to 8.20 Cr in Mar'24 before declining to 6.52 Cr in Mar'25, while profits and assets have generally increased. However, cash flow from operations has declined, indicating challenges in maintaining sales stability.

Answer:<BR>The historical performance of Dharni Capital shows a fluctuating trend in its financial metrics over the past three years.<BR><BR>Breakdown:<BR>Dharni Capital's net sales increased from 4.70 Cr in Mar'23 to 8.20 Cr in Mar'24, but then declined to 6.52 Cr in Mar'25. The total operating income followed a similar pattern, reaching 8.20 Cr in Mar'24 before dropping to 6.52 Cr in Mar'25. The company's operating profit (PBDIT) rose from 1.65 Cr in Mar'23 to 4.29 Cr in Mar'24, and further increased to 5.21 Cr in Mar'25. Profit before tax also showed growth, moving from 1.60 Cr in Mar'23 to 4.14 Cr in Mar'24, and then to 5.03 Cr in Mar'25. Consequently, profit after tax increased from 1.19 Cr in Mar'23 to 3.11 Cr in Mar'24, and further to 3.78 Cr in Mar'25. The earnings per share (EPS) improved significantly from 0.58 in Mar'23 to 1.52 in Mar'24, and then to 1.89 in Mar'25. On the balance sheet, total assets grew from 14.29 Cr in Mar'23 to 19.16 Cr in Mar'24, and reached 23.79 Cr in Mar'25, while total liabilities also increased from 14.29 Cr to 23.79 Cr over the same period. The cash flow from operating activities remained at 0.00 Cr in Mar'25, down from 3.00 Cr in Mar'24, and 1.00 Cr in Mar'23, indicating a decline in cash generation from operations. Overall, while Dharni Capital has shown growth in profits and assets, it has faced challenges in maintaining sales and cash flow stability.

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Is Dharni Capital overvalued or undervalued?

07-Nov-2025

As of November 6, 2025, Dharni Capital is considered very expensive and overvalued with high valuation ratios, including a PE ratio of 36.69, compared to peers like Bajaj Finance and Life Insurance, despite a strong year-to-date return of 27.75%.

As of 6 November 2025, the valuation grade for Dharni Capital has moved from risky to very expensive. The company is currently considered overvalued based on its high valuation ratios. Notable ratios include a PE ratio of 36.69, an EV to EBITDA of 35.80, and a PEG ratio of 3.85, all of which are significantly elevated compared to industry norms.<BR><BR>In comparison to peers, Bajaj Finance has a PE ratio of 37.19 and an EV to EBITDA of 19.89, while Life Insurance stands out with a much lower PE ratio of 11.62 and an EV to EBITDA of 9.05, indicating that Dharni Capital is priced at a premium relative to its competitors. Despite a strong year-to-date return of 27.75% compared to the Sensex's 6.62%, the high valuation metrics suggest that the stock may not sustain its current price levels.

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Why is Dharni Capital falling/rising?

04-Dec-2025

As of 03-Dec, Dharni Capital Services Ltd's stock price is stable at 59.00, with no recent price movement. Despite some erratic trading, the stock has shown strong year-to-date performance and increased investor interest, indicating a generally positive outlook.

As of 03-Dec, Dharni Capital Services Ltd's stock price is currently stable at 59.00, showing no change (0.00%). Over the past week, the stock has not experienced any price movement, reflecting a 0.00% change, while the benchmark Sensex has decreased by 0.59%. In the past month, the stock has risen by 1.72%, outperforming the Sensex, which increased by 1.34%. Year-to-date, Dharni Capital has shown a significant gain of 29.96%, compared to the Sensex's 8.92% increase, indicating strong performance relative to the market.<BR><BR>Despite today's performance indicating an underperformance against its sector by -0.36%, the stock is trading above its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This suggests a positive trend in the stock's price over a longer period. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 337.5% on 21 November compared to the 5-day average, indicating growing interest from investors.<BR><BR>However, it is important to note that the stock has exhibited erratic trading, having not traded on 4 out of the last 20 days, which may contribute to its current price stability. Overall, while the stock is not currently rising or falling, its strong year-to-date performance and increased investor participation suggest a generally positive outlook.

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Stock DNA
stock-summary
Industry

Capital Markets

stock-summary
Market cap

INR 125 Cr (Micro Cap)

stock-summary
P/E

39.00

stock-summary
Industry P/E

23

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.04

stock-summary
Return on Equity

14.85%

stock-summary
Price to Book

5.75

Revenue and Profits:
Net Sales:
(Quarterly Results - )
Net Profit:
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
5.53%
0%
5.53%
6 Months
11.19%
0%
11.19%
1 Year
29.96%
0%
29.96%
2 Years
36.02%
0%
36.02%
3 Years
197.14%
0%
197.14%
4 Years
0%
0%
0.0%
5 Years
0%
0%
0.0%

Dharni Capital for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions
News
Announcements stock-summary

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018

12-Jan-2026 | Source : BSE

Certificate under Regular 74 (5) of SEBI (DP) Regulations 2018 for the quarter ended on 31st December 2025 has been attached

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Change In Composition Of Committees Of The Board

05-Nov-2025 | Source : BSE

Change in composition of the Committes of the Board

Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results For The Half Year Ended On 30Th Spetember 2025

05-Nov-2025 | Source : BSE

Outcome of the Board meeting for approval of Unaudited Standalone And Consolidated Financial Results For The Half Year Ended On 30Th Spetember 2025

Corporate Actions stock-summary
stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors
Quality key factors stock-summary
Factor
Value
Sales Growth (5y)
-25.70%
EBIT Growth (5y)
49.42%
Net Debt to Equity (avg)
0.04
Institutional Holding
0
ROE (avg)
15.82%
Valuation key factors
Factor
Value
P/E Ratio
39
Industry P/E
23
Price to Book Value
5.75
EV to EBIT
39.69
EV to EBITDA
37.83
EV to Capital Employed
6.59
EV to Sales
20.21
PEG Ratio
4.07
Dividend Yield
NA
ROCE (Latest)
16.59%
ROE (Latest)
14.85%
Technicals key factors
Indicator
Weekly
Monthly
Icon
Technical indicator has not been calculated since the stock has been active for a short period
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Dec 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Hemant Dharnidharka (68.48%)

Highest Public shareholder

Prithvi Raj Singh Huf (4.92%)

Individual Investors Holdings

19.81%

stock-summaryFinancial
[
  {
    "link": "quarterly",
    "btn_text": "All Quarterly Results",
    "alert": "No Quarterly Results declared by Dharni Capital"
  },
  {
    "link": "half-yearly",
    "btn_text": "All Half Yearly Results",
    "header": "Half Yearly Results Snapshot (Consolidated) - Sep'25",
    "rhs": [
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        "prefix": "Net Sales ",
        "suffix": " Growth in half year ended Sep 2025 is 23.89% vs 23.29% in Mar 2025",
        "dir": 1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": " Growth in half year ended Sep 2025 is 15.50% vs 8.11% in Mar 2025",
        "dir": 1
      }
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    "table": {
      "header": [
        "Sep'25",
        "Mar'25",
        "Change(%)"
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          "val2": "3.60",
          "chgp": "23.89%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "1.35",
          "val2": "1.48",
          "chgp": "-8.78%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "0.03",
          "val2": "0.03",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "2.31",
          "val2": "2.00",
          "chgp": "15.50%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "30.27%",
          "val2": "41.11%",
          "chgp": "-10.84%",
          "chgp_class": "negative"
        }
      ]
    }
  },
  {
    "link": "nine-monthly",
    "btn_text": "All Nine Monthly Results",
    "alert": "No Nine Monthly Results declared by Dharni Capital"
  },
  {
    "link": "annual",
    "btn_text": "All Annual Results",
    "header": "Annual Results Snapshot (Consolidated) - Mar'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Mar 2025 is -20.49% vs 74.47% in Mar 2024",
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      },
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        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in year ended Mar 2025 is 23.79% vs 161.34% in Mar 2024",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Mar'25",
        "Mar'24",
        "Change(%)"
      ],
      "body": [
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          "field": "Net Sales",
          "val1": "6.52",
          "val2": "8.20",
          "chgp": "-20.49%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "2.60",
          "val2": "2.91",
          "chgp": "-10.65%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "0.03",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "3.85",
          "val2": "3.11",
          "chgp": "23.79%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "39.88%",
          "val2": "35.49%",
          "chgp": "4.39%",
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]
Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary
Sep'25
Mar'25
Change(%)
Net Sales
4.46
3.60
23.89%
Operating Profit (PBDIT) excl Other Income
1.35
1.48
-8.78%
Interest
0.03
0.03
Exceptional Items
0.00
0.00
Consolidate Net Profit
2.31
2.00
15.50%
Operating Profit Margin (Excl OI)
30.27%
41.11%
-10.84%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 23.89% vs 23.29% in Mar 2025

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is 15.50% vs 8.11% in Mar 2025

Annual Results Snapshot (Consolidated) - Mar'25stock-summary
Mar'25
Mar'24
Change(%)
Net Sales
6.52
8.20
-20.49%
Operating Profit (PBDIT) excl Other Income
2.60
2.91
-10.65%
Interest
0.03
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
3.85
3.11
23.79%
Operating Profit Margin (Excl OI)
39.88%
35.49%
4.39%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is -20.49% vs 74.47% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is 23.79% vs 161.34% in Mar 2024

stock-summaryCompany CV
About Dharni Capital Services Ltd stock-summary
stock-summary
Dharni Capital Services Ltd
Micro Cap
Capital Markets
Dharni Capital Services Limited was incorporated as `Dharni Online Services Private Limited' on November 12, 2015 as a Private Company with the Registrar of Companies, Bangalore, Karnataka. Further, Company's name was changed to "Dharni Capital Services Private Limited" dated March 28, 2022. Subsequently, the Company got converted to Public Limited and the name was changed to `Dharni Capital Services Limited', w.e.f. May 17, 2022.
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