Delphi World Money Ltd (DELPHIFX)
🎯 Key Takeaways
- Delphi World Money Ltd is in a financial distress phase, marked by persistent losses, negative equity trends, and declining profitability despite stable promoter ownership. The company has not generated net income for three consecutive quarters, with operating margins consistently negative in recent periods.
- Revenue grew 7.2% QoQ to ₹69 in Q4FY26.
- ⚠️ Persistent operating losses and negative margins with no visible path to profitability.
- Market Cap
- ₹161
- P/E Ratio
- 54.7
- P/B Ratio
- 0.49
- ROE
- 1.3%
- ROCE
- 4.8%
- Debt/Equity
- 0.53
- Promoter
- 61.3%
📖 The Story
Delphi World Money Ltd is in a financial distress phase, marked by persistent losses, negative equity trends, and declining profitability despite stable promoter ownership. The company has not generated net income for three consecutive quarters, with operating margins consistently negative in recent periods. Management has not provided forward guidance or strategic direction in recent filings, and the business appears to be in a dormant or underperforming state with no visible recovery initiatives.
📰 What's Happening
The most notable development is the reappointment of Whole-Time Director Hariprasad Meenoth Panichikkil for five years effective February 2027 to February 2032, pending shareholder approval at the upcoming AGM. Additionally, two non-executive directors resigned effective June 3, 2026, citing personal commitments. Shareholders approved all nine resolutions at the April 14, 2026 meeting, including material related party transactions with Eraaya Lifespaces Limited and an increase in loan investment limits. The board also set the AGM for September 30, 2026 and appointed SRC & Co as scrutinizer for remote e-voting validation.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Revenue | 12 | 50 | 64 | 69 |
| Operating Profit | 2 | 1 | -7 | -8 |
| OPM % | 12.6% | 2.7% | -10.8% | -12.1% |
| Net Profit | 5 | -0 | 0 | -2 |
| EPS | ₹4.06 | ₹-0.15 | ₹0.12 | ₹-0.08 |
The company's financial trajectory shows a sharp deterioration in profitability, with operating losses widening from ₹2 in June 2025 to ₹8 in March 2026, and operating margins declining from 12.6% to -12.1% over the same period. Net income has turned negative over the last three quarters, falling from ₹5 in June 2025 to a loss of ₹2 in March 2026, despite revenue growth from ₹12 to ₹69 crores. This suggests rising cost pressures or margin compression, though management has not disclosed specific reasons or corrective actions in the available filings.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit outlook from management in the latest filings. The company has not released unaudited financial results for the quarter ended June 30, 2026, and no dates or strategic commentary have been provided for future performance. The absence of guidance, combined with ongoing insider trading restrictions around upcoming results, indicates limited transparency and uncertainty around management's expectations for recovery or performance improvement.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2019 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 11 | 11 | 49 | 11 |
| Reserves | 94 | 212 | 277 | 219 |
| Borrowings | 54 | 28 | 174 | 186 |
| Total Liabilities | 293 | 280 | 646 | 594 |
| Fixed Assets | 8 | 4 | 24 | 19 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 293 | 355 | 646 | 594 |
The balance sheet reveals a fragile capital structure with declining equity and rising leverage. Total assets grew from ₹355 crores in March 2025 to ₹646 crores in March 2026, but equity increased only marginally from ₹11 to ₹49 crores, while reserves declined slightly from ₹219 to ₹277 crores. Borrowings surged from ₹28 to ₹174 crores, indicating increased reliance on debt to fund operations or assets. This suggests aggressive capital deployment without corresponding equity growth, raising concerns about financial sustainability and solvency risk.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2019 |
|---|---|
| Operating | -5 |
| Investing | +16 |
| Financing | -43 |
| Net Cash Flow | -32 |
👥 Shareholding Pattern
| Category | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|
| Promoters | 61.3% | 61.3% | 61.3% |
| FII | 0.5% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% |
| Public | 20.1% | 22.7% | 22.9% |
| # Shareholders | 10,051 | 14,730 | 14,998 |
Promoter holding remains stable at 61.32% over the past three quarters, indicating no dilution or stake sale. However, institutional interest has collapsed, with FII ownership dropping from 0.52% in Q3FY26 to 0.02% in Q4FY26, and DII remaining near zero. The number of public shareholders has modestly increased from 10,051 to 14,998, but retail participation has not translated into significant institutional accumulation. No insider buying or selling activity is visible, and the lack of institutional inflows suggests declining confidence among broader investors.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.06 L Cr | 29.8 | 10.4% | — | 3.82 |
| BAJAJFINSV | 2.79 L Cr | 27.4 | 11.4% | — | 5.50 |
| SHRIRAMFIN | 2.29 L Cr | 17.2 | 11.5% | — | 3.80 |
| ICICIAMC | 1.60 L Cr | 32.1 | 111.5% | — | 0.00 |
| JIOFIN | 1.44 L Cr | 67.7 | 2.3% | — | 0.17 |
| TATACAP | 1.41 L Cr | 25.7 | 8.4% | — | 5.28 |
| CHOLAFIN | 1.39 L Cr | 24.1 | 9.3% | — | 6.93 |
| BAJAJHLDNG | 1.19 L Cr | 13.4 | 12.4% | — | 0.00 |
| MUTHOOTFIN | 1.10 L Cr | 9.7 | 14.4% | — | 3.88 |
| PFC | 1.07 L Cr | 4.1 | 9.8% | — | 7.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Persistent operating losses and negative margins with no visible path to profitability. 2. High and rising debt levels outpacing equity growth, increasing financial risk. 3. Absence of management guidance or strategic updates despite upcoming results announcement. 4. Low institutional ownership and declining FII interest, signaling weak investor confidence. These factors combine to create a high-risk profile with limited upside visibility.
📋 Recent Filings
- Announcement2026-09-25Delphi World Money Ltd announced a trading window closure effective 1 October 2026 for insiders until 48 hours after unaudited quarterly results for S…
- Announcement2026-09-23Delphi World Money announced its corporate travel segment grew 13% in August 2026, reflecting strong enterprise adoption of its integrated travel plat…
- 🔴 annual report2026-09-04Delphi World Money Limited reported FY2025-26 profit after tax of **₹56.17 crores**, a **187.2% increase** from prior year, while total income stood a…
- 🟡 Board Meeting2026-09-04DELPHI WORLD MONEY LIMITED announced its 41st Annual General Meeting will be held on Wednesday, 30 September 2026 at 03:00 P.M. via Video Conferencing…
- 🟡 Board Meeting2026-08-31The board reappointed Whole-Time Director Hariprasad Meenoth Panichikkil for five years effective February 11, 2027 to February 10, 2032 without remun…
- 🟡 Board Meeting2026-08-31The board reappointed Whole-Time Director Hariprasad Meenoth Panichikkil for five years effective February 11, 2027 to February 10, 2032 without remun…
- 🟡 Board Meeting2026-08-31The board reappointed Whole-Time Director Hariprasad Meenoth Panichikkil for five years effective February 11, 2027 to February 10, 2032, without remu…
- 🟡 Board Meeting2026-08-31Delphi World Money announced the re-appointment of Whole-Time Director Hariprasad Meenoth Panichikkil for five years effective February 11, 2027 to Fe…
- share transfer2026-07-15DELPHI WORLD MONEY LIMITED confirmed compliance with SEBI Regulation 74(5) for the quarter ended June 30, 2026, via a certificate issued by its RTA, B…
- Financial Results2026-06-26DELPHI WORLD MONEY LIMITED announced that its trading window will close on 1 July 2026 for insiders, lasting until 48 hours after the unaudited financ…
🧠 Analyst's Read
The company is in a critical phase marked by financial deterioration, governance stability through director reappointments, and opaque future prospects. Investors should monitor the upcoming unaudited financial results for signs of operational improvement or further deterioration, as well as any strategic updates from management post-AGM. The lack of transparency and institutional interest warrants extreme caution.
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 2026-09-30.
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 when DELPHIFX files new disclosures
Track DELPHIFX filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track DELPHIFX — FreeFree account · 2 AI queries/day