Dhanashree Electronics Ltd

DEL

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Market Cap

₹ 316 Cr

P/E

73.47

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Investment Checklist

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Dhanashree Electronics Limited, established in 1987, focuses on manufacturing and supplying lighting products and unconventional power generation machinery.

The company distinguishes itself by offering a wide range of electrical products, from safety appliances to solar-powered solutions, highlighting its adaptability and market reach.

In 2022-23, Dhanashree Electronics expanded its portfolio to include premium LED solutions and solar lighting, targeting emerging markets such as smart city projects and infrastructure lighting.

The company is vertically and horizontally integrated, which allows it to effectively cater to domestic markets with a comprehensive range of electrical appliances.

Sector

Capital Goods - Electrical Equipment

Industry

Electric Equipment - General - Medium / Small

Market Cap

316 Cr

Volatility

Low Risk

P/E Ratio

73.5

Industry P/E

27.4

PEG Ratio

3.5

P/B Ratio

7.2

52W High

438.15

52W Low

49.73

Sales CAGR

19.36%

27.06%

16.52%

10Y

—

Profit CAGR

-11.51%

20.71%

5.42%

10Y

—

ROE

TTM

9.83%

8.76%

7.76%

10Y

—

ROCE

TTM

12.77%

13.70%

12.67%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SAHAJSOLAR	157.75	356 Cr	12.92	3.28	0.00	24.63	21.24	8.59
DEL	233.70	316 Cr	73.47	7.23	0.04	9.83	12.77	3.18
HUIL	2115.20	311 Cr	—	1.08	0.00	-13.16	-7.03	-6.76
KAYCEEI	928.00	286 Cr	53.49	9.07	0.22	16.95	22.98	12.97
PARTH	203.00	285 Cr	28.21	3.13	0.00	11.13	16.03	7.41
EEPL	208.60	283 Cr	26.02	3.37	0.00	0.00	0.00	7.92
PIGL	130.50	242 Cr	18.23	1.68	0.14	9.34	12.27	5.82

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	15	15	23	30	14	17	26	42	26	20
Expenses	13	18	23	24	13	15	22	48	23	17
Operating Profit	1.85	-3.05	-0.26	5.31	1.17	1.98	3.43	-6.73	2.53	2.91
OPM %	12.34	-20.08	-1.16	17.86	8.33	11.63	13.38	-16.14	9.89	14.88
Other Income	0.01	5.04	3.01	0.44	0.01	0.63	0.01	12	0.01	0.06
Interest	1.03	0.70	1.59	3.11	0.55	1.67	1.86	3.41	0.97	1.80
Depreciation	0.14	0.16	0.15	0.15	0.17	0.17	0.18	0.17	0.20	0.21
Profit Before Tax	0.70	1.12	1.01	2.49	0.46	0.77	1.38	2.06	1.37	0.96
Tax %	24.29	25.00	25.74	27.71	17.39	24.68	25.36	28.64	23.36	23.96
Net Profit	0.53	0.84	0.75	1.80	0.38	0.58	1.04	1.47	1.05	0.74
EPS in Rs	0.37	0.59	0.53	1.27	0.27	0.41	0.73	1.04	0.74	0.52

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	35	54	44	46	42	48	49	82	98	110
Expenses	27	46	35	37	36	40	55	79	99	109
Operating Profit	7.92	7.98	8.72	8.59	6.47	7.59	-5.96	3.88	-0.16	1.21
OPM %	22.54	14.79	19.88	18.75	15.26	15.83	-12.06	4.70	-0.16	1.10
Other Income	0.16	0.17	0.12	0.09	0.10	0.07	15	8.49	13	13
Interest	4.10	4.47	5.34	5.10	4.06	4.59	5.27	6.43	7.50	7.91
Depreciation	0.35	0.38	0.37	0.41	0.49	0.43	0.46	0.61	0.69	0.72
Profit Before Tax	2.47	3.30	3.13	3.17	2.02	2.64	3.66	5.32	4.67	5.58
Tax %	25.57	25.33	19.35	16.08	17.63	25.38	26.45	26.47	25.84	25.81
Net Profit	1.84	2.46	2.52	2.66	1.67	1.97	2.69	3.91	3.46	4.14
EPS in Rs	—	—	1.78	1.88	1.18	1.39	1.44	2.76	2.45	3.03
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	14	14	14	14	14	14	14	14	14
Reserves	6.35	8.81	11	14	16	18	20	24	28
Borrowings	37	40	42	37	45	47	52	63	64
Other Liabilities	7.59	10	6.59	16	14	8.91	11	22	38
Total Liabilities	65	73	74	82	88	88	98	124	144
Fixed Assets	4.46	4.16	4.05	4.52	4.33	3.95	5.94	5.49	4.92
CWIP	3.95	3.95	3.95	3.31	3.31	2.22	0.00	0.00	0.00
Investments	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Other Assets	57	64	66	74	80	81	92	118	139
Total Assets	65	73	74	82	88	88	98	124	144

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-20	8.63	3.70	9.18	-3.44	2.08	-15	-13	-6.84
Cash from Investing Activity	-1.10	-0.64	0.15	0.36	-0.38	1.21	14	7.80	13
Cash from Financing Activity	20	-8.02	-4.24	-9.52	3.85	-2.02	0.07	4.64	-5.66
Net Cash Flow	-1.32	-0.03	-0.39	0.02	0.02	1.27	-1.25	-0.53	0.76

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%	70.20%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%	29.80%
Total Shareholders	1,407	1,447	1,485	1,577	1,515	1,676	1,871	1,968	2,059	2,092	1,985	1,965

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jan 02, 2023	Chandra gopilal rajgarhia	Bulk	Buy	21.10	0.16 Cr	75,989	0.53

Projection

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Announcements

Last 7 days

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Presentations

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Reports

Presentations

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	15	15	23	30	14	17	26	42	26	20
Expenses	13	18	23	24	13	15	22	48	23	17
Operating Profit	1.85	-3.05	-0.26	5.31	1.17	1.98	3.43	-6.73	2.53	2.91
OPM %	12.34	-20.08	-1.16	17.86	8.33	11.63	13.38	-16.14	9.89	14.88
Other Income	0.01	5.04	3.01	0.44	0.01	0.63	0.01	12	0.01	0.06
Interest	1.03	0.70	1.59	3.11	0.55	1.67	1.86	3.41	0.97	1.80
Depreciation	0.14	0.16	0.15	0.15	0.17	0.17	0.18	0.17	0.20	0.21
Profit Before Tax	0.70	1.12	1.01	2.49	0.46	0.77	1.38	2.06	1.37	0.96
Tax %	24.29	25.00	25.74	27.71	17.39	24.68	25.36	28.64	23.36	23.96
Net Profit	0.53	0.84	0.75	1.80	0.38	0.58	1.04	1.47	1.05	0.74
EPS in Rs	0.37	0.59	0.53	1.27	0.27	0.41	0.73	1.04	0.74	0.52

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	35	54	44	46	42	48	49	82	98	110
Expenses	27	46	35	37	36	40	55	79	99	109
Operating Profit	7.92	7.98	8.72	8.59	6.47	7.59	-5.96	3.88	-0.16	1.21
OPM %	22.54	14.79	19.88	18.75	15.26	15.83	-12.06	4.70	-0.16	1.10
Other Income	0.16	0.17	0.12	0.09	0.10	0.07	15	8.49	13	13
Interest	4.10	4.47	5.34	5.10	4.06	4.59	5.27	6.43	7.50	7.91
Depreciation	0.35	0.38	0.37	0.41	0.49	0.43	0.46	0.61	0.69	0.72
Profit Before Tax	2.47	3.30	3.13	3.17	2.02	2.64	3.66	5.32	4.67	5.58
Tax %	25.57	25.33	19.35	16.08	17.63	25.38	26.45	26.47	25.84	25.81
Net Profit	1.84	2.46	2.52	2.66	1.67	1.97	2.69	3.91	3.46	4.14
EPS in Rs	—	—	1.78	1.88	1.18	1.39	1.44	2.76	2.45	3.03
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	14	14	14	14	14	14	14	14	14
Reserves	6.35	8.81	11	14	16	18	20	24	28
Borrowings	37	40	42	37	45	47	52	63	64
Other Liabilities	7.59	10	6.59	16	14	8.91	11	22	38
Total Liabilities	65	73	74	82	88	88	98	124	144
Fixed Assets	4.46	4.16	4.05	4.52	4.33	3.95	5.94	5.49	4.92
CWIP	3.95	3.95	3.95	3.31	3.31	2.22	0.00	0.00	0.00
Investments	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Other Assets	57	64	66	74	80	81	92	118	139
Total Assets	65	73	74	82	88	88	98	124	144

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-20	8.63	3.70	9.18	-3.44	2.08	-15	-13	-6.84
Cash from Investing Activity	-1.10	-0.64	0.15	0.36	-0.38	1.21	14	7.80	13
Cash from Financing Activity	20	-8.02	-4.24	-9.52	3.85	-2.02	0.07	4.64	-5.66
Net Cash Flow	-1.32	-0.03	-0.39	0.02	0.02	1.27	-1.25	-0.53	0.76

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SAHAJSOLAR	157.75	356 Cr	12.92	3.28	0.00	24.63	21.24	8.59
DEL	233.70	316 Cr	73.47	7.23	0.04	9.83	12.77	3.18
HUIL	2115.20	311 Cr	—	1.08	0.00	-13.16	-7.03	-6.76
KAYCEEI	928.00	286 Cr	53.49	9.07	0.22	16.95	22.98	12.97
PARTH	203.00	285 Cr	28.21	3.13	0.00	11.13	16.03	7.41
EEPL	208.60	283 Cr	26.02	3.37	0.00	0.00	0.00	7.92
PIGL	130.50	242 Cr	18.23	1.68	0.14	9.34	12.27	5.82

Overview

Detailed Summary

Dhanashree Electronics Limited, established in 1987, focuses on manufacturing and supplying lighting products and unconventional power generation machinery.

The company distinguishes itself by offering a wide range of electrical products, from safety appliances to solar-powered solutions, highlighting its adaptability and market reach.

In 2022-23, Dhanashree Electronics expanded its portfolio to include premium LED solutions and solar lighting, targeting emerging markets such as smart city projects and infrastructure lighting.

The company is vertically and horizontally integrated, which allows it to effectively cater to domestic markets with a comprehensive range of electrical appliances.

Sector

Capital Goods - Electrical Equipment

Industry

Electric Equipment - General - Medium / Small

Market Cap

316 Cr

Volatility

Low Risk

P/E Ratio

73.5

Industry P/E

27.4

PEG Ratio

3.5

P/B Ratio

7.2

52W High

438.15

52W Low

49.73

Sales CAGR

19.36%

27.06%

16.52%

10Y

—

Profit CAGR

-11.51%

20.71%

5.42%

10Y

—

ROE

TTM

9.83%

8.76%

7.76%

10Y

—

ROCE

TTM

12.77%

13.70%

12.67%

10Y

—