Dollar Industries Ltd. (DOLLAR) AI Stock Analysis

• Market Cap: ₹14.75B
• Dividend Yield: 0.82%
• Average Volume (3M): 80.23K
• Price to Earnings (P/E): 27.1
• Beta (1Y): 0.91
• Revenue Growth: 11.71%
• EPS Growth: 14.14%
• Country: IN
• Employees: 2,160
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Apparel - Manufacturers
• EPS (TTM): 3.10
• Shares Outstanding: 56,716,120
• 10 Day Avg. Volume: 38,201
• 30 Day Avg. Volume: 80,233
• PEG Ratio: 27.89
• Price to Book (P/B): 2.61
• Price to Sales (P/S): 1.31
• P/FCF Ratio: 127.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 21.01
• Revenue Forecast (FY): ₹18.89B

• Rating: 57 Neutral
• Price Target: ₹264.00 ▼(-24.11% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is primarily held back by weak technicals (price below all major DMAs with strongly bearish momentum). Financial performance remains a relative strength with solid growth and a stable balance sheet, but cash-flow consistency is a concern. Valuation is moderately unattractive with a higher P/E and only a modest dividend yield.

Positive Factors

Consistent revenue and EPS growth

Dollar has delivered multi-year top-line and earnings growth, which signals expanding market penetration and product demand in India’s innerwear category. Durable revenue and EPS momentum support reinvestment in distribution, brand-building and scale benefits that underpin longer-term earnings repeatability.

Margin resilience and improving net margin

Robust gross margins and a rising net margin indicate the company retains pricing power and can convert sales into profits. Sustained margin resilience enables funding of marketing, product premiumization and capex, helping maintain competitive positioning as volumes scale across channels over months to years.

Stable balance sheet with growing equity

Manageable leverage and growing equity provide financial flexibility to invest in manufacturing, distribution and working capital. A stable balance sheet reduces refinancing risk and supports strategic initiatives (geographic expansion, brand investments) that materially influence durable operational performance.

Negative Factors

Volatile cash generation despite positive FCF

Inconsistent cash conversion undermines the company’s ability to reliably fund working capital, capex and shareholder returns without external financing. For a working-capital intensive apparel business, volatile FCF raises execution risk on distribution expansion and makes sustained investment pacing harder to predict.

Operational margin fluctuations

Variability in operating margins points to uneven control of conversion costs, manufacturing efficiency or channel mix. This reduces margin predictability and can limit the durability of profitability improvements from revenue growth, making forecasting free cash generation and reinvestment returns more uncertain.

Rising liabilities and input-cost exposure

Growing liabilities constrain financial flexibility and amplify risk if raw-material costs (cotton/yarn) spike. Combined liability buildup and commodity-cost sensitivity can compress margins or force higher working capital, creating structural pressure on earnings stability and capital allocation decisions.

Dollar Industries Ltd. Business Overview & Revenue Model

Company Description

Dollar Industries Limited manufactures and sells hosiery products in knitted inner wears, casual wears, and thermal wears primarily in India. It offers vests, briefs, trunks, gym wears, socks, tank tops, crew necks, polos, henley, bermudas, capri, track pants, and joggers for men; camisoles, panties, leggings, socks, and casual wears for women; and T-shirts, shorts, track pants, bermudas, capri, socks, and trousers for children, as well as safety mask and PPE suits. The company offers its products under the BigBoss, J-Class, Athleisure, Missy, Champion, Force NXT, Force Gowear, Ultra, Winter care, and Doller Protect brands. It also exports its products in the United Arab Emirates, Oman, Qatar, Kuwait, Bahrain, Yemen, Iraq, Nigeria, Nepal, Myanmar, Jordon, Bangladesh, Georgia, Sri Lanka, and Somalia. Dollar Industries Limited was founded in 1972 and is headquartered in Kolkata, India.

How the Company Makes Money

Dollar Industries Ltd. generates revenue primarily through the sale of its hosiery and innerwear products. The company's key revenue streams include the domestic market, where it sells its products through a widespread network of distributors and retailers, and the international market, which it accesses through exports. Dollar Industries benefits from its diversified product portfolio and multiple sub-brands that target different consumer demographics and preferences. Additionally, the company engages in strategic partnerships and collaborations to enhance its market reach and brand visibility. Factors contributing to its earnings include a strong brand image, a comprehensive product range, and effective supply chain management.

Dollar Industries Ltd. Financial Statement Overview

Summary

Income statement strength (78) reflects consistent revenue/profit growth and solid margins, but operational margins have been somewhat uneven. The balance sheet is stable (72) with manageable leverage and growing equity, though liabilities are rising. Cash flow is the main drag (65) despite free cash flow turning positive in 2025, as volatility suggests less consistent cash generation.

Income Statement

Dollar Industries Ltd. has demonstrated consistent revenue growth, with a notable increase from 2023 to 2025. The gross profit margin remains robust, and the net profit margin has improved slightly, indicating efficient cost management. However, the EBIT and EBITDA margins have shown modest fluctuations, suggesting potential challenges in maintaining operational efficiency consistently.

Balance Sheet

The company's balance sheet reflects a stable financial position with a reasonable debt-to-equity ratio, showing effective leverage management. Stockholders' equity has consistently grown, enhancing the equity ratio. Despite these strengths, the company's total liabilities have increased, which warrants cautious monitoring.

Cash Flow

Cash flow analysis reveals a notable improvement in free cash flow from negative to positive in 2025, indicating better cash management. The operating cash flow to net income ratio suggests effective conversion of earnings to cash flow, although the free cash flow growth rate has been volatile, pointing to fluctuating capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	18.01B	17.10B	15.72B	13.94B	13.43B	10.37B
Gross Profit	6.04B	5.67B	3.69B	3.62B	4.15B	3.03B
EBITDA	2.09B	1.90B	1.61B	974.83M	2.24B	1.40B
Net Income	1.06B	910.36M	901.97M	525.39M	1.47B	853.17M
Balance Sheet
Total Assets	15.19B	14.76B	13.47B	10.73B	11.11B	8.37B
Cash, Cash Equivalents and Short-Term Investments	20.10M	13.33M	21.25M	13.40M	20.08M	87.56M
Total Debt	3.38B	3.44B	3.21B	1.75B	2.14B	1.30B
Total Liabilities	6.17B	6.16B	5.63B	3.65B	4.40B	3.00B
Stockholders Equity	8.96B	8.56B	7.81B	7.07B	6.71B	5.37B
Cash Flow
Free Cash Flow	347.95M	174.91M	-1.04B	802.83M	-588.13M	1.10B
Operating Cash Flow	470.86M	737.83M	-255.69M	1.36B	3.44M	1.32B
Investing Cash Flow	-114.39M	-535.16M	-801.28M	-575.83M	-618.51M	-219.37M
Financing Cash Flow	-358.13M	-220.54M	1.08B	-785.24M	547.44M	-1.09B

Dollar Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 347.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DOLLAR, the sentiment is Negative. The current price of 347.85 is above the 20-day moving average (MA) of 269.79, above the 50-day MA of 302.02, and below the 200-day MA of 350.91, indicating a bearish trend. The MACD of -15.56 indicates Negative momentum. The RSI at 39.72 is Neutral, neither overbought nor oversold. The STOCH value of 64.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DOLLAR.

Dollar Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANOMAY	69 Neutral	₹3.70B	19.63	―	―	8.41%	8.81%
CHEVIOT	63 Neutral	₹5.73B	9.17	―	0.45%	21.72%	-26.78%
SANGAMIND	63 Neutral	₹21.72B	25.56	―	0.45%	13.88%	-0.56%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
DOLLAR	57 Neutral	₹14.75B	27.11	―	0.82%	11.71%	14.14%
HIMATSEIDE	43 Neutral	₹9.92B	46.69	―	0.21%	-7.55%	-30.11%