DVL
Dhunseri Ventures Limited
Diversified industrial company with treasury and flexible packaging films businesses
Industrials›Capital Goods›Industrial Products›Packaging
aspetindia.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹288.40
Market cap
1,010 Cr
Stock P/E
5.2
P/B
0.31
Dividend yield
2.9%
ROE (FY26)
2.8%
ROCE (FY26)
4.2%
Operating margin (FY26)
-23.5%
Debt / equity (FY26)
0.29
OCF / EBITDA (3Y)
126.6%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
DVL (Dhunseri Ventures) sells flexible packaging films, runs a treasury operation, and holds associate stakes that supply a large share of its profit.
Company snapshot
14thBy market cap
Ranked among 33 companies in Packaging.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 77.2% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| India | 77.2% | 299 Cr | 33 Cr | — |
| Outside India | 22.8% | 89 Cr | -8 Cr | — |
What we see
Positives
- ✓Net margin of 23.7% — the business keeps a healthy share of every rupee it earns.
Concerns
- ✗Interest coverage of -1.3x — earnings barely cover interest payments, which is a warning sign.
3 more signals from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 143 Cr | 57 Cr | 46 Cr | 98 Cr | 168 Cr | 122 Cr | 68 Cr | 173 Cr | 82 Cr | 72 Cr | 71 Cr | 232 Cr |
| Operating expenses (approx.) | 143 Cr | 44 Cr | 150 Cr | 91 Cr | 121 Cr | 136 Cr | 129 Cr | 90 Cr | 126 Cr | 114 Cr | 132 Cr | 141 Cr |
| EBITDA | -0.24 Cr | 13 Cr | -104 Cr | 7 Cr | 47 Cr | -13 Cr | -61 Cr | 83 Cr | -44 Cr | -42 Cr | -61 Cr | 91 Cr |
| OPM % | -0.2% | 22.3% | -228.5% | 6.8% | 27.9% | -11.0% | -88.9% | 48.1% | -54.2% | -59.0% | -85.5% | 39.3% |
| Other income | 4 Cr | 19 Cr | 1 Cr | 0.75 Cr | 0.79 Cr | 0.78 Cr | 3 Cr | 20 Cr | 23 Cr | 18 Cr | 22 Cr | 25 Cr |
| Interest | 6 Cr | 8 Cr | 5 Cr | 5 Cr | 6 Cr | 6 Cr | 6 Cr | 27 Cr | 15 Cr | 10 Cr | 15 Cr | 4 Cr |
| Depreciation | 6 Cr | 7 Cr | 5 Cr | 5 Cr | 5 Cr | 5 Cr | 4 Cr | 10 Cr | 7 Cr | 6 Cr | 6 Cr | 6 Cr |
| Profit before tax | -4 Cr | 18 Cr | -106 Cr | -3 Cr | 36 Cr | -7 Cr | -56 Cr | 93 Cr | -10 Cr | 4 Cr | 26 Cr | 226 Cr |
| Tax % | 6.9% | 31.7% | 21.0% | -1.1% | 28.5% | 86.5% | 24.4% | 23.7% | -30.4% | -52.1% | 6.3% | 22.9% |
| Net profit | -4 Cr | 12 Cr | -83 Cr | -3 Cr | 26 Cr | -0.96 Cr | -42 Cr | 71 Cr | -13 Cr | 6 Cr | 24 Cr | 174 Cr |
| EPS (₹) | ₹-3.65 | ₹3.54 | ₹-79.44 | ₹-2.80 | ₹24.74 | ₹-0.92 | ₹-40.09 | ₹20.35 | ₹-3.05 | ₹1.72 | ₹6.95 | ₹49.76 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 22 Cr | 287 Cr | 762 Cr | 70 Cr | 377 Cr | 349 Cr | 337 Cr | 395 Cr | 456 Cr | 372 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 21 Cr | 244 Cr | 737 Cr | 81 Cr | 314 Cr | 323 Cr | 347 Cr | 544 Cr | 477 Cr | 434 Cr | Sign in free for the trailing twelve months |
| EBITDA | 0.74 Cr | 43 Cr | 25 Cr | -12 Cr | 63 Cr | 26 Cr | -10 Cr | -148 Cr | -21 Cr | -62 Cr | Sign in free for the trailing twelve months |
| OPM % | 3.3% | 15.1% | 3.3% | -16.5% | 16.6% | 7.4% | -2.9% | -37.5% | -4.6% | -16.6% | Sign in free for the trailing twelve months |
| Other income | 6 Cr | 11 Cr | 44 Cr | 42 Cr | 22 Cr | 56 Cr | 11 Cr | 10 Cr | 6 Cr | 82 Cr | Sign in free for the trailing twelve months |
| Interest | 0.08 Cr | 9 Cr | 23 Cr | 7 Cr | 9 Cr | 7 Cr | 9 Cr | 17 Cr | 23 Cr | 66 Cr | Sign in free for the trailing twelve months |
| Depreciation | 0.48 Cr | 17 Cr | 4 Cr | 28 Cr | 20 Cr | 19 Cr | 19 Cr | 22 Cr | 19 Cr | 26 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 49 Cr | 28 Cr | 29 Cr | -71 Cr | 41 Cr | -84 Cr | -30 Cr | -166 Cr | -29 Cr | 113 Cr | Sign in free for the trailing twelve months |
| Tax % | -109.1% | -3.0% | -9.9% | 20.1% | 24.5% | -11.9% | 20.3% | 15.1% | 31.8% | 21.9% | Sign in free for the trailing twelve months |
| Net profit | 551 Cr | 29 Cr | 32 Cr | -57 Cr | 31 Cr | -94 Cr | -24 Cr | -141 Cr | -20 Cr | 88 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹171.01 | ₹41.40 | ₹9.40 | ₹-15.63 | ₹43.85 | ₹-89.68 | ₹-22.64 | ₹-134.29 | ₹-19.08 | ₹25.97 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 5.7% | — | — | — | — | 33.9% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 35 Cr | — | 35 Cr | 35 Cr | 35 Cr | 35 Cr | 11 Cr | 11 Cr | 11 Cr | 35 Cr |
| Reserves | 1,065 Cr | — | 1,327 Cr | 1,198 Cr | 1,569 Cr | 2,027 Cr | 687 Cr | 511 Cr | 510 Cr | 3,253 Cr |
| Borrowings | — | — | 62 Cr | 60 Cr | 45 Cr | 90 Cr | 175 Cr | 248 Cr | 257 Cr | 951 Cr |
| Other liabilities | 100 Cr | — | 179 Cr | 186 Cr | 243 Cr | 305 Cr | 250 Cr | 183 Cr | 182 Cr | 639 Cr |
| Total liabilities | 1,200 Cr | — | 1,605 Cr | 1,479 Cr | 1,893 Cr | 2,459 Cr | 1,123 Cr | 953 Cr | 959 Cr | 4,878 Cr |
| Fixed assets (net) | 3 Cr | — | 15 Cr | 42 Cr | 57 Cr | 62 Cr | 756 Cr | 678 Cr | 711 Cr | 570 Cr |
| CWIP | 46 Cr | — | 46 Cr | 46 Cr | 46 Cr | 84 Cr | 91 Cr | 72 Cr | 79 Cr | 819 Cr |
| Investments | 1,080 Cr | — | 1,323 Cr | 1,294 Cr | 1,651 Cr | 2,091 Cr | 61 Cr | 20 Cr | 16 Cr | 3,107 Cr |
| Loans & advances | — | — | 121 Cr | 1 Cr | 3 Cr | 0 Cr | 0.30 Cr | 0.13 Cr | 0.07 Cr | 0 Cr |
| Inventories | — | — | 0.38 Cr | 0.29 Cr | 0.56 Cr | 0.51 Cr | 98 Cr | 77 Cr | 72 Cr | 47 Cr |
| Trade receivables | — | — | 0.08 Cr | 0.09 Cr | 0.10 Cr | 0.12 Cr | 20 Cr | 19 Cr | 14 Cr | 15 Cr |
| Cash & bank | 10 Cr | — | 18 Cr | 22 Cr | 32 Cr | 27 Cr | 22 Cr | 13 Cr | 20 Cr | 90 Cr |
| Other assets | 61 Cr | — | 82 Cr | 73 Cr | 104 Cr | 193 Cr | 75 Cr | 74 Cr | 47 Cr | 230 Cr |
| Total assets | 1,200 Cr | — | 1,605 Cr | 1,479 Cr | 1,893 Cr | 2,459 Cr | 1,123 Cr | 953 Cr | 959 Cr | 4,878 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 354 Cr | — | 96 Cr | — | 46 Cr | 33 Cr | 20 Cr | -83 Cr | -2 Cr | -102 Cr |
| Cash from investing | -241 Cr | — | -51 Cr | — | 4 Cr | -36 Cr | -61 Cr | 23 Cr | 25 Cr | -410 Cr |
| Cash from financing | -141 Cr | — | -85 Cr | — | -55 Cr | 5 Cr | 56 Cr | 52 Cr | -16 Cr | 467 Cr |
| Net cash flow | -28 Cr | — | -40 Cr | — | -5 Cr | 1 Cr | 16 Cr | -9 Cr | 7 Cr | -45 Cr |
| Free cash flow (OCF − Capex) | 351 Cr | — | 86 Cr | — | 22 Cr | -20 Cr | -184 Cr | -126 Cr | -34 Cr | -822 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 4.5% | — | 3.6% | -5.0% | 17.2% | 21.2% | -2.4% | -19.4% | -0.9% | 4.2% |
| ROE % | 54.5% | 13.2% | 2.4% | -4.4% | 14.5% | 17.4% | -3.4% | -27.0% | -3.9% | 2.8% |
| Debtor days | — | — | 0 | 0 | 0 | 0 | 22 | 17 | 11 | 14 |
| Inventory days | — | — | 14 | 9 | 12 | 10 | 962 | 1171 | 4370 | 69 |
| Days payable | 25 | — | 346 | 119 | 79 | 85 | 377 | 688 | 2393 | 71 |
| Cash conversion cycle | -25 | — | -332 | -110 | -67 | -75 | 606 | 501 | 1988 | 12 |
| OCF / EBITDA % | 48096.6% | — | 384.9% | — | 73.7% | 128.6% | — | — | — | — |
| OCF / EBITDA % (3 years) | — | — | — | — | — | — | 126.6% | — | — | — |
| Debt / equity | — | 0.00 | 0.05 | 0.05 | 0.03 | 0.04 | 0.25 | 0.47 | 0.49 | 0.29 |
| Current ratio | 35.33 | — | 15.93 | 5.41 | 9.59 | 6.30 | 0.85 | 0.47 | 0.58 | 5.16 |
| Net debt / EBITDA | -13.76 | 0.00 | 1.77 | — | 0.12 | 1.00 | — | — | — | — |