Dhunseri Tea & Industries financials and balance sheet

NSE: DTILBSE: 538902Agricultural Food & other ProductsSmall Cap

₹147.99₹3.99 (2.77%)

Share price at the NSE close on 23 Oct 2026. Previous close ₹144.00.

52-week range of traded prices to 23 Oct 2026

₹102.00Low, 30 Mar 2026₹193.79High, 27 Aug 2026

Delivery only: shares bought must be paid for in full, with no selling on the same day.

Market cap: ₹155 Cr2,641st largest listed
P/E: Lossover the last 12 months
P/B: 0.3
Dividend yield: 1.35%
ROE: −2.4%
ROE without one-offs: −3.6%
ROCE: −3.8%
Debt to equity: 0.47
Volume, NSE: 3,183

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Dhunseri Tea & Industries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹471 Cr, year to Mar 2026A loss in 5 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 7.2% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue471
Materials and goods−19
Employee costs−264
Other expenses−196
Operating profit−7.4
Depreciation−19
Other income+40
One-off items+6.4
Finance costs−20
Profit before tax0.3
Tax−2.8
Net profit−2.5

What the company owns

Plant, investments and other assets₹874 Cr
Inventory₹53 Cr
Cash and bank₹27 Cr
Receivables₹12 Cr

What pays for it: net worth and liabilities

Net worth₹529 Cr
Borrowings₹249 Cr
Other liabilities₹141 Cr
Owed to suppliers₹46 Cr

Dhunseri Tea & Industries business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Dhunseri Tea & Industries segment results by quarter

Revenue by segment

₹471 CrTotal

India₹326 Cr69.2% of total
Outside India₹145 Cr30.8% of total

Segment results by year

Consolidated, ₹ crore, years to March.

India
Revenue, ₹ crore
181
177
248
211
217
297
327
326
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
4
−14
40
−7
−18
−59
−21
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Outside India
Revenue, ₹ crore
129
145
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−19
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	324	302	377	349	337	395	456	471
Company revenue, as in its results	324	302	377	349	337	395	456	471
Revenue	181	177	248	211	217	297	327	326
Revenue growth	–	−1.9%	39.9%	−15.2%	2.9%	37.1%	10.1%	−0.2%
Profit	4	−14	40	−7	−18	−59	−21	0
Margin	2.2%	−7.7%	16.1%	−3.2%	−8.5%	−19.8%	−6.5%	0.0%
Return on capital	–	−2.5%	7.4%	−1.6%	−3.5%	−12.9%	−4.9%	–
Assets	–	580	575	451	656	686	643	503
Liabilities	–	37	37	46	126	232	213	–
Capital employed	–	543	538	404	530	453	430	–
Revenue	–	–	–	–	–	–	129	145
Revenue growth	–	–	–	–	–	–	–	12.0%
Profit	–	–	–	–	–	–	−19	0
Margin	–	–	–	–	–	–	−14.5%	0.0%
Return on capital	–	–	–	–	–	–	−20.9%	–
Assets	–	–	–	–	–	–	316	290
Liabilities	–	–	–	–	–	–	226	–
Capital employed	–	–	–	–	–	–	90	–
Revenue	143	125	129	138	121	98	–	–
Revenue growth	–	−12.8%	2.7%	7.8%	−12.7%	−18.6%	–	–
Profit	43	13	3	13	−10	−90	–	–
Profit growth	–	−70.6%	−76.6%	335.8%	–	–	–	–
Margin	30.3%	10.2%	2.3%	9.4%	−8.5%	−91.8%	–	–
Return on capital	–	3.3%	0.8%	3.5%	−2.9%	−131.9%	–	–
Assets	–	409	395	399	378	267	–	–
Liabilities	–	22	22	27	24	198	–	–
Capital employed	–	387	373	372	354	69	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Dhunseri Tea & Industries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 30 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 24 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
Revenue from operations	302	287	324	302	377	349	337	395	456	471
	247	244	262	284	314	323	347	544	477	479
Materials and goods bought	37	37	34	39	71	68	20	39	9	19
Employee costs	–	–	86	112	122	129	171	260	272	264
Other expenses	–	–	141	133	121	127	156	245	197	196
Operating profit before depreciation	55	43	63	19	63	26	−10	−148	−21	−7
Operating margin	18.2%	15.1%	19.3%	6.1%	16.6%	7.4%	−2.9%	−37.5%	−4.6%	−1.6%
Materials, % of revenue	–	–	10.6%	12.9%	18.9%	19.3%	6.0%	9.8%	2.0%	4.0%
Employee costs, % of revenue	–	–	26.6%	36.9%	32.5%	36.9%	50.6%	65.7%	59.5%	56.0%
Other expenses, % of revenue	–	–	43.6%	44.1%	32.1%	36.4%	46.3%	62.0%	43.1%	41.5%
Depreciation and amortisation	17	17	19	19	20	19	19	22	19	19
Operating profit after depreciation	38	26	44	−1	43	6	−29	−170	−40	−26
Other income	8	11	5	5	22	56	11	10	6	40
Finance costs	8	9	7	11	9	7	9	17	23	20
Profit before one-off items and tax	38	28	42	−6	56	55	−27	−177	−57	−6
One-off items	0	0	0	101	−15	−139	−3	11	27	6
Profit before tax	38	28	42	95	41	−84	−30	−166	−29	0
	11	−1	13	21	10	10	−6	−25	−9	3
Current tax	10	5	8	20	7	10	0	0	1	−1
Deferred tax	1	−6	5	1	3	0	−6	−25	−10	3
Net profit	27	29	28	73	31	−94	−24	−141	−20	−3
Other comprehensive income	–	–	15	−1	−1	−8	−24	−31	0	1
Total comprehensive income	–	–	43	72	30	−103	−47	−172	−20	−1
Net margin	9.0%	10.1%	8.7%	24.2%	8.2%	−27.0%	−7.0%	−35.7%	−4.4%	−0.5%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 30 May	Mar 2020Filed 30 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 24 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
	758	826	855	748	697	522	520	529
Share capital	7	7	7	11	11	11	11	11
Reserves	751	819	848	738	687	511	510	519
	84	115	72	105	175	248	257	249
Repayable after a year	42	43	30	25	49	58	115	126
Repayable within a year	42	72	43	80	127	190	142	123
	110	134	110	146	236	277	222	204
Trade payables	26	27	25	28	38	45	39	46
Other financial liabilities	28	26	32	12	41	26	22	19
Other liabilities	5	8	2	2	21	9	8	6
Provisions	0	0	7	21	8	6	10	10
Tax owed	9	1	1	2	1	0	0	1
	160	170	157	148	189	154	217	232
Other financial liabilities	2	9	7	7	6	6	5	4
Other liabilities	0	0	3	3	3	4	3	3
Provisions	0	0	0	0	34	30	30	31
Deferred tax	114	115	117	113	97	55	64	68
Liabilities going with businesses held for sale	1	0	0	–	–	–	–	–
	1,029	1,131	1,122	1,043	1,123	953	959	965
Held for sale or for a demerger	–	2	2	–	–	2	–	–
	876	910	892	776	920	821	830	823
Plant in use, after depreciation	740	753	719	595	756	678	711	686
Plant being built	64	84	91	96	91	72	79	98
Intangible assets	0	0	0	0	0	0	1	1
Goodwill	22	23	23	24	26	26	0	0
Intangible assets being developed	0	–	–	–	1	1	0	0
Property held to earn rent	6	7	7	6	6	4	4	4
Investments	36	32	35	37	19	16	12	10
Loans given	0	3	3	0	0	0	0	0
Other financial assets	6	2	1	4	4	4	4	5
Deferred tax	0	–	–	–	6	7	8	0
Trade receivables	0	4	10	10	10	10	9	8
Other assets	2	4	4	4	1	2	1	11
	152	219	228	267	202	129	129	142
Inventories	66	74	78	79	98	77	72	53
Trade receivables	44	31	20	19	20	19	14	12
Cash and cash equivalents	6	9	4	6	22	13	20	26
Other bank balances	0	0	0	0	0	0	0	0
Current investments	7	90	102	140	35	0	0	0
Loans given	0	0	0	0	0	0	0	0
Other financial assets	5	3	12	9	8	6	6	32
Other assets	23	11	12	15	19	14	17	18
Net debt	70	16	−34	−40	118	235	237	222

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 24 Jun	Mar 2022Filed 24 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
	46	33	20	−83	−2	28
	53	42	141	−83	−25	7
	−8	19	43	11	10	20
Receivables	5	1	−1	1	5	1
Inventories	−5	−1	−19	21	5	10
Payables	−2	3	10	7	−4	7
Other working capital	−6	15	52	−18	4	3
Tax paid	−7	−9	−120	0	2	2
Interest paid	0	0	0	0	21	19
Capital spending	24	53	204	43	32	43
Free cash flow	22	−20	−184	−126	−34	−15
	4	−36	−61	23	25	−5
Plant and property sold	17	4	14	16	36	38
Interest received	0	0	−1	0	0	0
Dividends received	0	1	1	0	0	0
	−55	5	56	52	−16	−16
Borrowings raised	2	21	70	73	92	21
Borrowings repaid	−40	−5	0	0	−84	−16
Interest paid	−10	−7	−8	−17	−24	−19
Lease payments	−5	−1	−2	−1	−1	−1
Dividends paid	2	3	4	3	0	1
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	−5	1	16	−9	7	6

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Dhunseri Tea & Industries dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 30 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 24 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
	₹25.90	₹27.60	₹26.75	–	₹29.23	−₹89.68	−₹22.64	−₹134.29	−₹19.08	−₹2.38
As stated that year	₹38.85	₹41.40	₹40.12	–	₹43.85	−₹89.68	−₹22.64	−₹134.29	−₹19.08	−₹2.38
	₹25.90	₹27.60	₹26.75	–	₹29.23	−₹89.68	−₹22.64	−₹134.29	−₹19.08	−₹2.38
As stated that year	₹38.85	₹41.40	₹40.12	–	₹43.85	−₹89.68	−₹22.64	−₹134.29	−₹19.08	−₹2.38
	₹5.33	₹5.33	₹3.33	₹1.67	₹3.33	₹4.00	₹3.00	–	₹1.00	₹2.00
As declared that year	₹8.00	₹8.00	₹5.00	₹2.50	₹5.00	₹4.00	₹3.00	–	₹1.00	₹2.00
	–	–	₹721.06	₹786.13	₹813.30	₹712.34	₹663.43	₹496.79	₹494.90	₹503.92
On that year's share count	–	–	₹1,081.59	₹1,179.20	₹1,219.95	₹712.34	₹663.43	₹496.79	₹494.90	₹503.92
Dividend payout	20.6%	19.3%	12.5%	2.4%	11.4%	–	–	–	–	–
Shareholder yield	–	–	–	–	1.0%	1.3%	2.2%	1.6%	0.0%	0.9%
Market cap at the year end (₹ crore)	211	193	155	78	181	275	191	196	178	115

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from. As stated that year and earnings per share are left blank for the year to Mar 2020: the earnings per share is stated as 0 while the period's profit or loss comes to at least half a paisa a share, so the 0 stands in for a figure the filing does not give.

Ratios

Consolidated, years to March.Dhunseri Tea & Industries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 30 May	Mar 2020Filed 30 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 24 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
Revenue growth	10.3%	−4.9%	13.0%	−6.7%	24.5%	−7.4%	−3.3%	17.2%	15.4%	3.2%
Operating profit growth	–	−21.4%	45.1%	−70.4%	237.2%	−58.8%	–	–	–	–
Net profit growth	7.5%	6.6%	−3.1%	160.4%	−58.0%	–	–	–	–	–
Earnings per share growth	–	6.6%	−3.1%	–	–	–	–	–	–	–
	–	–	3.7%	9.2%	3.7%	−11.8%	−3.3%	−23.1%	−3.8%	−0.5%
	–	–	–	5.5 pts	−5.6 pts	−15.4 pts	8.5 pts	−19.9 pts	19.3 pts	3.4 pts
From the net margin	–	–	–	6.6 pts	−6.1 pts	−15.8 pts	8.7 pts	−13.4 pts	20.3 pts	3.4 pts
From asset turnover	–	–	–	−1.2 pts	0.6 pts	0.4 pts	0.1 pts	−3.7 pts	−0.7 pts	0.0 pts
From borrowing	–	–	–	0.0 pts	−0.1 pts	−0.1 pts	−0.3 pts	−2.8 pts	−0.3 pts	0.0 pts
Return on capital employed	–	–	5.2%	−0.1%	4.6%	0.7%	−3.3%	−22.1%	−5.1%	−3.4%
Cash conversion	–	–	–	–	150.1%	–	–	–	–	–
Interest cover	4.6	2.9	6.1	–	4.6	0.9	–	–	–	–
Debt to equity	–	–	0.11	0.14	0.08	0.14	0.25	0.47	0.50	0.47
Receivable days	–	–	49	38	20	20	22	17	11	10
Inventory days	–	–	708	689	401	426	1,768	724	2,910	1,016
Payable days	–	–	275	254	129	153	693	425	1,593	878
Cash conversion cycle, days	–	–	482	472	291	293	1,096	316	1,328	147
Working capital days	–	–	79	69	53	58	38	27	23	27
Asset turnover	–	–	0.32	0.28	0.33	0.32	0.31	0.38	0.48	0.49
Assets per rupee of net worth	–	–	1.36	1.36	1.34	1.35	1.50	1.70	1.83	1.83
Sales per rupee of plant	–	–	0.44	0.40	0.52	0.59	0.45	0.58	0.64	0.69
Capital spending to depreciation	–	–	–	–	1.24	2.73	10.73	1.96	1.72	2.27
Plant being built, % of plant in use	–	–	8.7%	11.2%	12.7%	16.1%	12.0%	10.6%	11.2%	14.3%

Interest cover is left blank for the years to Mar 2020, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −0.3%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	5.6%	4.6%	11.8%
Return on equity, average	–	−8.5%	−9.2%
Return on capital employed, average	–	−6.6%	−10.2%
Operating margin, average	3.6%	−7.8%	−14.6%
Net margin, average	−1.5%	−14.9%	−13.5%
Asset turnover, average	–	0.40	0.45
Cash conversion cycle, days, average	–	636	597
Debt to equity, average	–	0.37	0.48

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	−4	−57	28
Cash from investing	−55	42	−5
Cash from financing	80	19	−16
Capital spending	375	118	43
Dividends paid	12	4	1
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	277	186	21
Borrowings repaid	106	100	16

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	3	6	3	6	6
Altman Z-scorePublished threshold 1.81	–	–	1.89	1.83	2.07	1.78	1.33	0.74	1.32	1.39
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.57	−3.25	−2.91	−2.99	−2.78	−2.63
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−1.69	−8.41	1.52	−7.73	−4.54	−2.60
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−22.08	−59.74	1.98	7.94	−23.21	−40.22	−16.41
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−3.02	−76.47	6.00	94.03	−113.85	69.98	−137.14
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−4.37	2.26	0.10	0.95	−1.74	0.63	5.85
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	2.62	–	–	0.50	–	1.53	–
Effective tax ratePublished threshold 17.16 per cent	28.25	−2.98	32.35	22.59	24.52	–	–	–	–	848.83
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	–	–	–	293.90

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
10 Oct 2025	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash Credit	CARE AReview, Re-affirm	Stable	125
10 Oct 2025	CARE Ratings Limited (opens in a new tab)	Fund-based - ST-Bank Overdraft	CARE A2+New, New		0.50
10 Oct 2025	CARE Ratings Limited (opens in a new tab)	Term Loan-Long Term	CARE AReview, Re-affirm	Stable	8.20
10 Oct 2025	CARE Ratings Limited (opens in a new tab)	Non-fund-based - LT-Standby Letter of Credit	CARE AReview, Re-affirm	Stable	15.73

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.