Dharti Proteins Ltd (531171)
🎯 Key Takeaways
- Dharti Proteins Ltd appears to be in a structural transition phase marked by governance updates and financial reorganization rather than operational growth. The company has not generated meaningful revenue in recent quarters, with revenue remaining flat at ₹0 and negative EPS trends emerging.
- ⚠️ 1) The company has not generated revenue in multiple consecutive quarters, raising concerns about operational viability. 2) Persistent negative EPS an
📖 The Story
Dharti Proteins Ltd appears to be in a structural transition phase marked by governance updates and financial reorganization rather than operational growth. The company has not generated meaningful revenue in recent quarters, with revenue remaining flat at ₹0 and negative EPS trends emerging. Its narrative is currently defined by administrative and structural changes rather than business expansion.
📰 What's Happening
The board recently approved the appointment of Mikil Vora & Associates as the new internal auditor for a five-year term starting September 1, 2026, and adopted revised Memorandum and Articles of Association superseding prior versions. Borrowing and investment limits were significantly increased to Rs. 5000 Crores to enhance financial flexibility. The 32nd Annual General Meeting is scheduled for September 28, 2026, where further governance and strategic updates may be disclosed. Shareholder composition has shifted notably, with promoter holding dropping from 85% to 1.74% in Q3FY26 amid broad public participation.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 |
| OPM % | — | — | — | — |
| Net Profit | 0 | -0 | -0 | -0 |
| EPS | ₹0.00 | ₹-0.33 | ₹-9.14 | ₹-2.86 |
The company has reported zero revenue across all recent quarters (Jun, Mar, Dec 2025, Sep 2025), with only a brief positive EPS of ₹0 in September 2025 before reverting to negative returns (₹-0.33, ₹-9.14, ₹-2.86). This consistent absence of revenue suggests the business may be non-operational or in a dormant state, with financial performance reflecting minimal or suspended trading activity rather than cyclical volatility.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue generation or business revival in the available filing content. The only forward-looking reference is the scheduled AGM on September 28, 2026, which may serve as a platform for future strategic updates. No projections, timelines, or revival plans were disclosed in the reviewed board meeting minutes or regulatory submission.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|
| Equity Capital | 10 | 10 | 1 |
| Reserves | -10 | -10 | -3 |
| Borrowings | 2 | 2 | 3 |
| Total Liabilities | 7 | 3 | 1 |
| Fixed Assets | 1 | 1 | 0 |
| Investments | 3 | 1 | 0 |
| Total Assets | 7 | 3 | 1 |
The balance sheet shows a highly leveraged and capital-constrained structure, with equity remaining stagnant at ₹10 Crore while reserves are negative (₹-10 Crore), indicating accumulated losses. Borrowings have increased slightly to ₹3 Crore, but total assets remain minimal (₹1-3 Crore), suggesting limited operational scale or asset base. The raised borrowing limit to Rs. 5000 Crores appears disproportionate to current capitalization and may reflect preparatory moves for future capital needs rather than immediate deployment.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +4 |
| Investing | -3 |
| Financing | +0 |
| Net Cash Flow | +1 |
👥 Shareholding Pattern
| Category | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|
| Promoters | 1.7% | 85.0% | 85.0% |
| FII | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% |
| Public | 89.9% | 4.0% | 4.0% |
| # Shareholders | 10,242 | 995 | 995 |
Promoter holding has sharply declined from 85% to 1.74% between Q4FY26 and Q3FY26, with public ownership rising from 3.98% to 89.9% and the number of shareholders increasing from 995 to 10,242. This suggests significant dilution or promoter exit, possibly through institutional or open market transfers. FII and DII holdings remain negligible, indicating limited institutional interest or visibility.
⚖️ Peer Comparison — Trading
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| ADANIENT | 3.88 L Cr | 44.4 | 10.9% | 9.1% | 1.09 |
| PREMIERENE | 46,028 | 27.3 | 50.0% | 59.3% | 0.67 |
| AEGISLOG | 42,841 | 34.2 | 24.6% | 24.4% | 0.40 |
| REDINGTON | 27,307 | 16.1 | 18.4% | 14.8% | 0.26 |
| HONASA | 15,413 | 61.8 | 28.3% | 21.1% | 0.00 |
| 504346 | 11,409 | — | -24.9% | -47.5% | 0.73 |
| LLOYDSENT | 10,901 | 35.5 | 7.0% | 5.7% | 0.17 |
| SGMART | 10,525 | 84.6 | 11.2% | 7.8% | 0.14 |
| MMTC | 9,344 | 20.9 | 42.4% | 26.3% | 0.00 |
| EBGNG | 7,412 | 52.6 | 31.3% | 62.9% | 1.92 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) The company has not generated revenue in multiple consecutive quarters, raising concerns about operational viability. 2) Persistent negative EPS and lack of profitability signal ongoing financial stress. 3) Sharp decline in promoter stake may reflect governance concerns or loss of control. 4) Negative reserves and minimal asset base suggest accumulated losses could impair financial stability. These factors collectively point to a high-risk profile with uncertain recovery pathways.
🧠 Analyst's Read
Dharti Proteins Ltd is currently in a dormant or transitional phase with no active revenue stream and deteriorating financial metrics. Investors should monitor upcoming disclosures at the September 2026 AGM for clarity on business revival plans, capital allocation, and management's strategy to address the company's structural and operational challenges.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts for your stocks — summarized by AI daily
Set up your AI Radar — pick stocks, get daily email summaries of new filings.
Set up AI Radar — FreeFree account · 2 AI queries/day
© 2026 StockFin.ai — AI-powered Indian stock research
About · Privacy Policy · Terms of Service · Pricing
Today's Announcements · Screener · Insights · AI Chat
Data provided by CMOTS Internet Technologies Pvt Ltd