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Last Updated: April 2, 2026, 4:25 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 517514 | NSE: DHINDIA

D&H India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹185.61Overvalued by 35.78%vs CMP ₹289.00

P/E (40.1) × ROE (11.6%) × BV (₹48.90) × DY (2.00%)

₹119.12Overvalued by 58.78%vs CMP ₹289.00
MoS: -142.6% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹228.0326%Over (-21.1%)
Graham NumberEarnings₹89.1319%Over (-69.2%)
DCFCash Flow₹102.6113%Over (-64.5%)
Net Asset ValueAssets₹48.988%Over (-83.1%)
EV/EBITDAEnterprise₹110.7011%Over (-61.7%)
Earnings YieldEarnings₹72.208%Over (-75%)
ROCE CapitalReturns₹11.188%Over (-96.1%)
Revenue MultipleRevenue₹102.376%Over (-64.6%)
Consensus (8 models)₹119.12100%Overvalued
Key Drivers: Wide model spread (₹11–₹228) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 22.9%

*Investments are subject to market risks

Investment Snapshot

62
D&H India Ltd scores 62/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health59/100 · Moderate
ROCE 13.5% GoodROE 11.6% AverageD/E 0.47 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money35/100 · Weak
Promoter decreased by 7.40% Caution
Earnings Quality60/100 · Moderate
OPM stable around 7% SteadyWorking capital: 47 days (improving) Efficient
Quarterly Momentum90/100 · Strong
Revenue (4Q): +22% YoY AcceleratingProfit (4Q): +100% YoY Strong
Industry Rank50/100 · Moderate
P/E 40.1 vs industry 34.1 In-lineROCE 13.5% vs industry 26.2% Below peers3Y sales CAGR: 32% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:25 am

Market Cap 295 Cr.
Current Price 289
Intrinsic Value₹119.12
High / Low 300/113
Stock P/E40.1
Book Value 48.9
Dividend Yield0.00 %
ROCE13.5 %
ROE11.6 %
Face Value 10.0
PEG Ratio1.75

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for D&H India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
D&H India Ltd 295 Cr. 289 300/11340.1 48.90.00 %13.5 %11.6 % 10.0
GEE Ltd 306 Cr. 58.8 97.9/53.6 38.10.00 %1.09 %4.65 % 2.00
Ador Welding Ltd 1,555 Cr. 893 1,260/78821.9 2832.24 %20.3 %13.9 % 10.0
Esab India Ltd 7,868 Cr. 5,111 6,425/4,13040.2 2711.27 %70.0 %52.3 % 10.0
Industry Average2,506.00 Cr1,587.9534.07160.250.88%26.22%20.61%8.00

All Competitor Stocks of D&H India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 36.4939.4433.2535.5042.9046.1844.4750.3155.2059.1552.9065.6261.95
Expenses 33.8336.9731.4133.4040.1743.3541.7047.1851.0554.6849.2461.6556.73
Operating Profit 2.662.471.842.102.732.832.773.134.154.473.663.975.22
OPM % 7.29%6.26%5.53%5.92%6.36%6.13%6.23%6.22%7.52%7.56%6.92%6.05%8.43%
Other Income 0.020.050.020.020.020.120.010.030.040.450.180.240.17
Interest 0.560.530.690.720.810.781.011.041.211.271.261.401.55
Depreciation 0.440.470.470.470.510.630.680.680.880.730.830.870.85
Profit before tax 1.681.520.700.931.431.541.091.442.102.921.751.942.99
Tax % 34.52%38.82%12.86%44.09%30.07%64.29%27.52%54.17%19.52%31.16%23.43%18.04%18.73%
Net Profit 1.100.920.620.531.010.550.790.651.692.021.341.582.43
EPS in Rs 1.130.950.610.520.990.540.770.641.661.981.311.552.38

Last Updated: February 2, 2026, 10:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 3:05 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 716663606979796891139158209240
Expenses 666359566574776686129148194222
Operating Profit 5334362259101517
OPM % 7%5%5%6%5%7%2%3%5%7%6%7%7%
Other Income 010000-0000011
Interest 1112222112355
Depreciation 1222222222233
Profit before tax 320002-2-1265810
Tax % 35%27%38%42%40%22%-9%-18%-7%26%41%32%
Net Profit 210002-2-124357
EPS in Rs 2.111.270.310.310.202.05-1.85-0.842.584.352.655.057.22
Dividend Payout % 19%31%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-50.00%-100.00%-200.00%50.00%300.00%100.00%-25.00%66.67%
Change in YoY Net Profit Growth (%)0.00%-50.00%-100.00%250.00%250.00%-200.00%-125.00%91.67%

D&H India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:21%
3 Years:32%
TTM:29%
Compounded Profit Growth
10 Years:17%
5 Years:42%
3 Years:32%
TTM:98%
Stock Price CAGR
10 Years:26%
5 Years:69%
3 Years:58%
1 Year:17%
Return on Equity
10 Years:5%
5 Years:7%
3 Years:10%
Last Year:12%

Last Updated: September 5, 2025, 3:06 pm

Balance Sheet

Last Updated: December 4, 2025, 2:42 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 7777777778888
Reserves 21222223232523222430343942
Borrowings 5101415131616151828385367
Other Liabilities 21171516191715121619222230
Total Liabilities 54565960636561566685101121147
Fixed Assets 20222221191816141721293938
CWIP 1000000100407
Investments 0000000000001
Other Assets 333437394347454149636881101
Total Assets 54565960636561566685101121147

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 41-122-1-0215-0-2
Cash from Investing Activity + -6-1-0-2001-1-5-9-14-7
Cash from Financing Activity + -112-1-31-1-2441511
Net Cash Flow -200-0-0-0-0-0-0001
Free Cash Flow -2-2-222-201-3-0-14-12
CFO/OP 111%53%-20%64%66%-18%17%100%24%69%6%-7%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.00-7.00-11.00-11.00-10.00-10.00-14.00-13.00-13.00-19.00-28.00-38.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 686485818076748873748089
Inventory Days 124151161202180172164161138967652
Days Payable 9979818610077625463484629
Cash Conversion Cycle 93137165196160172176194148122110112
Working Capital Days 4549646771797610680675247
ROCE %12%7%5%5%4%9%1%1%8%13%10%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Feb 2026
Promoters 52.26%52.26%52.26%52.26%52.26%52.26%52.26%52.26%52.26%52.26%52.26%44.86%
DIIs 0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.02%
Public 47.71%47.71%47.71%47.70%47.71%47.71%47.70%47.70%47.71%47.70%47.71%55.12%
No. of Shareholders 4,2144,3314,7944,8814,8395,5745,1615,0875,0515,1585,2145,417

Shareholding Pattern Chart

No. of Shareholders

D&H India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 6.403.425.562.99-0.92
Diluted EPS (Rs.) 6.403.425.432.99-0.92
Cash EPS (Rs.) 9.905.847.665.421.29
Book Value[Excl.RevalReserv]/Share (Rs.) 57.3850.9848.4142.5039.44
Book Value[Incl.RevalReserv]/Share (Rs.) 57.3850.9848.4142.5039.44
Revenue From Operations / Share (Rs.) 255.41192.75178.08122.6191.37
PBDIT / Share (Rs.) 18.3711.8212.237.152.91
PBIT / Share (Rs.) 14.779.299.994.970.56
PBT / Share (Rs.) 9.235.637.333.04-1.28
Net Profit / Share (Rs.) 6.293.305.423.24-1.05
NP After MI And SOA / Share (Rs.) 6.293.305.423.24-1.05
PBDIT Margin (%) 7.196.136.875.833.18
PBIT Margin (%) 5.784.815.614.050.61
PBT Margin (%) 3.612.924.112.48-1.40
Net Profit Margin (%) 2.461.713.042.64-1.14
NP After MI And SOA Margin (%) 2.461.713.042.64-1.14
Return on Networth / Equity (%) 10.966.4811.197.63-2.66
Return on Capital Employeed (%) 17.2813.3116.249.611.17
Return On Assets (%) 4.242.684.973.63-1.38
Long Term Debt / Equity (X) 0.370.280.200.150.14
Total Debt / Equity (X) 1.111.060.560.640.47
Asset Turnover Ratio (%) 1.881.701.841.491.16
Current Ratio (X) 1.571.541.701.731.97
Quick Ratio (X) 1.140.970.940.780.87
Inventory Turnover Ratio (X) 8.874.474.062.821.93
Interest Coverage Ratio (X) 3.323.234.603.721.55
Interest Coverage Ratio (Post Tax) (X) 2.141.903.042.690.42
Enterprise Value (Cr.) 214.77117.6362.6639.4324.54
EV / Net Operating Revenue (X) 1.030.740.450.430.36
EV / EBITDA (X) 14.2712.156.587.4511.41
MarketCap / Net Operating Revenue (X) 0.780.460.300.210.16
Price / BV (X) 3.511.781.110.620.38
Price / Net Operating Revenue (X) 0.780.460.300.210.16
EarningsYield 0.030.030.100.12-0.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

D & H India Ltd. is a Public Limited Listed company incorporated on 30/03/1985 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L28900MH1985PLC035822 and registration number is 035822. Currently company belongs to the Industry of Welding Equipments. Company's Total Operating Revenue is Rs. 209.13 Cr. and Equity Capital is Rs. 8.19 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Welding EquipmentsA-204, Kailash Esplanade, Opp. Shreyas Cinema, Mumbai Maharashtra 400086Contact not found
Management
NamePosition Held
Mr. Harsh VoraChairman & Managing Director
Mr. Saurabh VoraWhole Time Director
Mrs. Atithi VoraWoman Director
Mr. Rajendra BandiIndependent Director
Mr. Somendra SharmaIndependent Director
Dr. Niranjan ShastriIndependent Director

FAQ

What is the intrinsic value of D&H India Ltd and is it undervalued?

As of 12 April 2026, D&H India Ltd's intrinsic value is ₹119.12, which is 58.78% lower than the current market price of ₹289.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.6 %), book value (₹48.9), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of D&H India Ltd?

D&H India Ltd is trading at ₹289.00 as of 12 April 2026, with a FY2026-2027 high of ₹300 and low of ₹113. The stock is currently near its 52-week high. Market cap stands at ₹295 Cr..

How does D&H India Ltd's P/E ratio compare to its industry?

D&H India Ltd has a P/E ratio of 40.1, which is above the industry average of 34.07. The premium over industry average may reflect growth expectations or speculative interest.

Is D&H India Ltd financially healthy?

Key indicators for D&H India Ltd: ROCE of 13.5 % is moderate. Dividend yield is 0.00 %.

Is D&H India Ltd profitable and how is the profit trend?

D&H India Ltd reported a net profit of ₹5 Cr in Mar 2025 on revenue of ₹209 Cr. Compared to ₹2 Cr in Mar 2022, the net profit shows an improving trend.

Does D&H India Ltd pay dividends?

D&H India Ltd has a dividend yield of 0.00 % at the current price of ₹289.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in D&H India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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