Dhunseri Ventures Limited (DVL) AI Stock Analysis

• Market Cap: ₹7.28B
• Dividend Yield: 1.75%
• Average Volume (3M): 3.42K
• Price to Earnings (P/E): 41.4
• Beta (1Y): 1.42
• Revenue Growth: -16.02%
• EPS Growth: -61.61%
• Country: IN
• Employees: 24
• Sector: Services
• Sector Strength: N/A
• Industry: Financial - Capital Markets
• EPS (TTM): 1.72
• Shares Outstanding: 35,024,754
• 10 Day Avg. Volume: 6,670
• 30 Day Avg. Volume: 3,423
• PEG Ratio: -1.36
• Price to Book (P/B): 0.36
• Price to Sales (P/S): 1.96
• P/FCF Ratio: -2.53
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹219.00 ▼(-22.97% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is primarily supported by solid financial performance (revenue growth and a strong equity-backed balance sheet). However, weak cash generation (negative operating/free cash flow) and very bearish technical signals (below key moving averages with negative MACD) meaningfully reduce the overall rating, while valuation is pressured by a high P/E despite a supportive dividend yield.

Positive Factors

Low Leverage / Strong Equity

A low debt-to-equity profile and rising stockholders' equity provide durable financial stability and flexibility. This equity-backed balance sheet reduces refinancing risk, supports the ability to hold investments through cycles, and allows opportunistic capital deployment without pressuring cash flows.

Revenue Growth (2024-25)

A notable 29% revenue increase from 2024 to 2025 signals improving underlying operating scale in the investment portfolio or realized activity. Sustained top-line growth for a holding company indicates successful monetization or value accretion in investees, supporting longer-term earnings potential.

Improving Gross Margins

Improved gross margins point to better cost efficiency or higher-quality earnings from core investment-related activities. Sustained margin improvement can translate into greater retained earnings and reinvestment capacity, reinforcing the firm's ability to compound value over multiple reporting periods.

Negative Factors

Negative Operating / Free Cash Flow

Consistent negative operating and free cash flow undermine the company's ability to fund dividends, buybacks, or new investments from internal sources. Over months this raises reliance on asset sales or external financing, increasing execution risk and potentially forcing suboptimal timing of disposals.

Declining Net Profit Margin

A falling net margin despite revenue growth signals margin compression from rising operating costs, financing expenses, or non-recurring items. If persistent, it reduces retained earnings growth and weakens the sustainability of reported profits from investee revaluations or realized gains.

Earnings Depend on Investee Performance

As a holding/investment vehicle, DVL's cash flows and earnings are heavily tied to investee dividends, capital gains, and market valuations. This structural dependence increases volatility and reduces control over recurring operating cash generation, making performance contingent on third-party company outcomes.

Dhunseri Ventures Limited Business Overview & Revenue Model

Company Description

Dhunseri Ventures Limited engages in the treasury operations in shares and securities business in India. The company operates through three segments: Trading, Treasury Operations, and Food and Beverages. It also manufactures and retails confectioneries in Singapore; offers bakery products; and manufactures and sells BOPET films, as well as engages in the infrastructure business. The company was formerly known as Dhunseri Petrochem Limited and changed its name to Dhunseri Ventures Limited in December 2018. The company was incorporated in 1916 and is based in Kolkata, India. Dhunseri Ventures Limited is a subsidiary of Dhunseri Investments Limited.

How the Company Makes Money

Dhunseri Ventures Limited generates revenue through multiple streams. Its primary revenue comes from the sale of tea products, which includes bulk tea and branded tea. The company benefits from its established distribution networks and brand presence in the tea market. Additionally, DVL earns money from its investments in packaging, where it provides solutions to various industries, thereby capitalizing on the demand for sustainable and innovative packaging. The real estate sector also contributes to its revenue, with income generated from property development and leasing. Strategic partnerships with suppliers and distributors further enhance its market reach and profitability.

Dhunseri Ventures Limited Financial Statement Overview

Summary

Strong revenue growth (notably +29% from 2024 to 2025) and a low-leverage balance sheet support stability, but declining net profit margin and negative operating/free cash flow weaken overall financial quality.

Income Statement

The company has shown consistent revenue growth, particularly from 2024 to 2025 with a significant increase of 29%. Gross profit margins have improved, indicating better cost management. However, net profit margin has decreased from 2024 to 2025, suggesting rising expenses or other financial pressures impacting net income.

Balance Sheet

The company maintains a strong equity position, as evidenced by a low debt-to-equity ratio indicating low leverage. The increase in stockholders' equity over the years suggests healthy reinvestment and asset growth. However, the equity ratio shows that a significant portion of total assets is financed by equity, which is favorable for stability but may limit aggressive expansion.

Cash Flow

The cash flow statement reveals challenges, with negative free cash flow in recent years. Operating cash flow is negative, indicating potential cash management issues. However, there was significant investing cash inflow in 2025, possibly from asset sales, which could provide short-term liquidity.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	4.24B	5.84B	3.51B	2.07B	2.39B	1.23B
Gross Profit	887.12M	2.78B	504.63M	199.03M	610.02M	704.15M
EBITDA	880.54M	1.19B	2.36B	7.46B	4.78B	3.09B
Net Income	669.88M	1.44B	1.53B	5.42B	3.59B	2.32B
Balance Sheet
Total Assets	43.60B	41.71B	39.28B	35.29B	24.59B	18.93B
Cash, Cash Equivalents and Short-Term Investments	10.38B	8.49B	5.23B	4.67B	3.30B	2.64B
Total Debt	5.35B	3.88B	3.77B	3.65B	1.15B	727.59M
Total Liabilities	11.30B	9.78B	9.65B	8.88B	3.95B	2.88B
Stockholders Equity	32.30B	31.89B	29.59B	26.37B	20.62B	16.04B
Cash Flow
Free Cash Flow	-3.58B	-4.53B	-921.28M	-2.15B	-1.06B	-98.09M
Operating Cash Flow	-1.49B	-3.78B	-70.26M	1.43B	-260.31M	304.99M
Investing Cash Flow	-86.79M	5.39B	238.87M	-3.01B	132.52M	352.17M
Financing Cash Flow	1.24B	-497.92M	-508.46M	1.94B	73.33M	-556.39M

Dhunseri Ventures Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 284.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DVL, the sentiment is Negative. The current price of 284.3 is above the 20-day moving average (MA) of 235.06, above the 50-day MA of 251.85, and below the 200-day MA of 307.93, indicating a bearish trend. The MACD of -10.51 indicates Positive momentum. The RSI at 33.62 is Neutral, neither overbought nor oversold. The STOCH value of 25.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DVL.

Dhunseri Ventures Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CREST	63 Neutral	₹9.23B	24.59	―	0.26%	-9.89%	-42.10%
MATRIMONY	62 Neutral	₹7.97B	34.55	―	1.88%	-4.85%	-29.49%
ROHLTD	61 Neutral	₹8.83B	31.71	―	0.61%	10.77%	-4.40%
DVL	60 Neutral	₹7.28B	41.40	―	1.75%	-16.02%	-61.61%
DHUNINV	58 Neutral	₹4.94B	-57.61	―	0.24%	-29.04%	-78.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%