Dhanashree Electronics Limited

BSE: DEL · Other Electrical Equipment

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Snapshot

Unlock Dhanashree Electronics Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Dhanashree Electronics Limited manufactures and markets a diverse range of lighting products and electronic components under the Rashmi brand. The company serves residential, commercial, and industrial sectors with energy-efficient solutions including LED bulbs, street lights, and floodlights.

Business Model

The company generates revenue through the production and distribution of lighting systems and electronic ballasts across India. It leverages a manufacturing facility in West Bengal and a widespread distribution network to supply its products to the domestic market.

Management Commentary

Management focuses on the development of eco-friendly lighting technology to align with the increasing demand for sustainable infrastructure. The company prioritises innovation in energy-efficient systems to maintain its competitive position in the Indian market.

Growth Outlook

Growth is driven by the rising demand for sustainable and energy-efficient lighting solutions across India's residential and industrial sectors. The company aims to capitalise on infrastructure development by expanding its portfolio of LED and electronic lighting products.

Key Risks

  • Market Competition. The lighting industry is highly fragmented with intense competition from both established players and unorganised local manufacturers.
  • Input Cost Volatility. Fluctuations in the prices of raw materials and electronic components can significantly impact profit margins.
  • Technological Obsolescence. Rapid advancements in lighting technology require constant R&D investment to remain relevant and competitive.
  • Supply Chain Dependency. Reliance on specific manufacturing facilities and distribution networks exposes the company to operational disruptions.

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Key Metrics

REVENUE

₹112 Cr

TTM · standalone

-2.1%YoY

NET PROFIT

₹4 Cr

TTM · standalone

-24.5%YoY

EPS

₹2.60

TTM · standalone

-24.6%YoY

RETURN ON EQUITY

7.5%

TTM · standalone

-4.9 ppYoY

RETURN ON CAPITAL EMPLOYED

12.6%

TTM · standalone

-7.3 ppYoY

P/E

49.2x

Q4 FY26 · standalone

49.2 vs 59.5x5Y avg

EV/EBITDA

25.8x

Q4 FY26 · standalone

25.8 vs 25.5x5Y avg

EBITDA MARGIN

11.1%

TTM · standalone

-4.2 ppYoY

NET PROFIT MARGIN

2.5%

Q4 FY26 · standalone

-1.0 ppYoY

DEBT TO EQUITY

0.8x

Q4 FY26 · standalone

-0.72xYoY

Peers · Other Electrical Equipment

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Dhanashree Electronics LimitedDEL
₹184 Cr49.7519.24-2.1%11.1%7.5%12.6%-51.9%
Urja GlobalURJA
₹483 Cr919.00199.754.0%0.8%1.0%-29.9%
S&S Power Switchgears LimitedS&SPOWER
₹418 Cr51.7239.6032.1%4.0%10.2%6.2%-8.7%
Artemis Electricals and Projects LimitedAEPL
₹386 Cr45.2428.4616.3%9.6%13.0%-41.0%
RMC SwitchgearsRMC
₹261 Cr12.0%-69.8%
Magnus Steel and Infra LimitedMAGNUS
₹8 Cr18.9815.7412.6%31.0%209.7%

As of Q4 FY26

Financials