Price
Financials
Standalone, Rs crore| Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,637 | 2,686 | 2,607 | 2,591 | 2,297 | 2,383 | 2,222 | 2,260 | 2,067 | 2,249 | 2,180 | 2,053 |
| Expenses | 1,508 | 1,238 | 1,130 | 1,095 | 1,471 | 1,146 | 1,327 | 1,706 | 2,640 | 1,763 | 1,509 | 1,059 |
| Operating Profit | 1,129 | 1,448 | 1,477 | 1,495 | 826 | 1,237 | 895 | 554 | -572 | 486 | 671 | 994 |
| OPM % | 43% | 54% | 57% | 58% | 36% | 52% | 40% | 25% | -28% | 22% | 31% | 48% |
| Other Income | 216 | 221 | 307 | 409 | 315 | 237 | 387 | 216 | 323 | 161 | 357 | 240 |
| Interest | 2,012 | 2,065 | 1,936 | 1,925 | 1,847 | 1,708 | 1,621 | 1,560 | 1,567 | 1,506 | 1,454 | 1,422 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -667 | -396 | -152 | -21 | -706 | -234 | -339 | -790 | -1,816 | -859 | -426 | -188 |
| Tax % | -51% | -30% | -71% | -269% | -19% | -43% | -45% | -52% | -33% | -16% | -2% | -5% |
| Net Profit | -326 | -279 | -44 | 35 | -575 | -133 | -185 | -380 | -1,225 | -722 | -417 | -178 |
| EPS in Rs | -4.89 | -4.19 | -0.66 | 0.45 | -7.31 | -1.69 | -1.86 | -3.36 | -5.42 | -3.19 | -1.84 | -0.79 |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,676 | 3,448 | 4,010 | 5,034 | 6,794 | 8,899 | 9,978 | 10,763 | 10,646 | 10,182 | 8,932 | 8,549 |
| Expenses | 1,028 | 1,041 | 974 | 1,368 | 1,681 | 1,964 | 3,109 | 3,037 | 4,659 | 4,997 | 6,738 | 6,970 |
| Operating Profit | 1,648 | 2,406 | 3,037 | 3,665 | 5,113 | 6,935 | 6,870 | 7,727 | 5,986 | 5,185 | 2,194 | 1,579 |
| OPM % | 62% | 70% | 76% | 73% | 75% | 78% | 69% | 72% | 56% | 51% | 25% | 18% |
| Other Income | 516 | 545 | 588 | 533 | 582 | 655 | 916 | 721 | 716 | 1,251 | 1,163 | 1,082 |
| Interest | 1,817 | 2,383 | 2,910 | 3,270 | 4,693 | 6,516 | 7,473 | 8,316 | 8,169 | 7,773 | 6,456 | 5,949 |
| Depreciation | 29 | 27 | 28 | 31 | 36 | 41 | 55 | 65 | 85 | 3 | 80 | 0 |
| Profit before tax | 318 | 541 | 687 | 898 | 966 | 1,032 | 258 | 67 | -1,551 | -1,340 | -3,179 | -3,288 |
| Tax % | -13% | 22% | 26% | 32% | 17% | 22% | -114% | -294% | -40% | -36% | -40% | |
| Net Profit | 360 | 423 | 511 | 612 | 803 | 810 | 552 | 265 | -935 | -864 | -1,923 | -2,542 |
| EPS in Rs | 12.54 | 14.74 | 17.83 | 18.35 | 22.94 | 23.15 | 10.26 | 4.73 | -14.02 | -10.97 | -8.51 | -11.24 |
| Dividend Payout % | 8% | 8% | 11% | 12% | 13% | 20% | 21% | 19% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 13% | 0% | -6% | -7% | ||
| Compounded Profit Growth | % | % | % | -100% | ||
| Stock Price CAGR | -10% | % | % | % | ||
| Return on Equity | 0% | -8% | -16% | -23% |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Sep 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 287 | 287 | 287 | 333 | 350 | 350 | 538 | 561 | 667 | 787 | 2,259 | 2,259 |
| Reserves | 1,514 | 1,884 | 2,315 | 3,323 | 4,127 | 5,414 | 6,605 | 6,879 | 6,475 | 6,898 | 6,944 | 5,797 |
| Borrowings | 34,338 | 44,494 | 52,906 | 65,901 | 81,048 | 105,621 | 115,189 | 119,372 | 123,702 | 119,004 | 109,691 | 104,683 |
| Other Liabilities | 2,503 | 1,796 | 2,079 | 1,281 | 1,863 | 2,056 | 2,532 | 3,108 | 2,598 | 2,842 | 1,966 | 1,881 |
| Total Liabilities | 38,642 | 48,460 | 57,587 | 70,838 | 87,388 | 113,440 | 124,863 | 129,921 | 133,442 | 129,531 | 120,860 | 114,620 |
| Fixed Assets | 412 | 405 | 407 | 404 | 405 | 1,110 | 1,145 | 1,154 | 1,367 | 1,575 | 1,549 | 1,534 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 1 | 2 | 8 | 0 |
| Investments | 10,283 | 12,473 | 15,694 | 18,769 | 23,028 | 34,343 | 36,612 | 32,762 | 35,226 | 39,737 | 37,610 | 38,687 |
| Other Assets | 27,947 | 35,582 | 41,485 | 51,666 | 63,954 | 77,985 | 87,107 | 96,005 | 96,847 | 88,216 | 81,693 | 74,400 |
| Total Assets | 38,642 | 48,460 | 57,587 | 70,838 | 87,388 | 113,440 | 124,863 | 129,921 | 133,442 | 129,531 | 120,860 | 114,620 |
| Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 106 | 1,101 | 1,674 | -633 | 9 | 303 | 3,844 | -4,544 | 3,511 | -5,168 | 110 | -1,713 |
| Cash from Investing Activity | -24 | 5 | -36 | -46 | -42 | -79 | -82 | -107 | -130 | -144 | -52 | -75 |
| Cash from Financing Activity | 233 | 113 | 181 | -64 | 327 | -81 | 508 | 1,202 | -78 | 1,015 | 828 | 1,481 |
| Net Cash Flow | 315 | 1,219 | 1,819 | -743 | 294 | 142 | 4,270 | -3,449 | 3,303 | -4,298 | 886 | -307 |
| Free Cash Flow | 82 | 1,106 | 1,638 | -679 | -33 | 250 | 3,763 | -4,680 | 3,381 | -5,312 | 59 | -1,788 |
| CFO/OP | -3% | 76% | 71% | -15% | 9% | 13% | 65% | -66% | 45% | -84% | 2% | -77% |
| Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -77 | -172 | -37 | -53 | 55 | 10 | 51 | 9 | 122 | 183 | 182 | 216 |
| ROCE % | 5% | 6% | 7% | 7% | 7% | 7% | 8% | 7% | 7% | 5% | 5% | 3% |
| Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 62.89% | 62.89% | 68.55% | 68.55% | 68.55% | 70.04% | 61.53% | 80.74% | 80.74% | 80.74% | 80.74% |
| FIIs | 4.06% | 5.03% | 4.19% | 4.14% | 3.38% | 2.66% | 2.84% | 1.24% | 1.33% | 1.29% | 1.28% |
| DIIs | 18.03% | 17.03% | 14.43% | 14.44% | 14.45% | 16.50% | 20.77% | 10.13% | 10.14% | 10.09% | 10.07% |
| Public | 15.02% | 15.05% | 12.82% | 12.87% | 13.61% | 10.79% | 14.85% | 7.89% | 7.78% | 7.88% | 7.91% |
| No. of Shareholders | 2,26,934 | 2,24,109 | 2,24,412 | 2,22,594 | 2,23,088 | 2,21,454 | 2,38,221 | 2,43,396 | 2,43,363 | 2,47,159 | 2,49,565 |
Fundamentals
Market Cap₹ 2,858 Cr.
Current Price₹ 12.6
Book Value₹ 35.7
ROCE2.67 %
ROE-22.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-7%
Compounded Profit Growth (TTM)-100%
Standalone figures.
Valuation
P/B, 3-year average0.37x
P/E, 5-year average8.32x
P/B, 5-year average0.39x
Profitability
Operating margin (excl. other income)24.57%
Operating margin (incl. other income)37.59%
EBITDA margin32.05%
Pre-tax margin-38.47%
Net profit margin-29.74%
Net margin, latest quarter-8.69%
ROE-22.78%
ROCE2.67%
ROA-1.54%
ROE, 3-year average-15.75%
ROCE, 3-year average4.27%
ROA, 3-year average-0.97%
ROE, 5-year average-7.01%
ROCE, 5-year average5.23%
ROA, 5-year average-0.45%
ROIC (approx.)1.42%
Tax rate39.50%
Other income / net worth12.64%
Growth
Sales growth (latest year)-12.27%
Sales CAGR, 3 years-6.03%
Sales CAGR, 5 years0.07%
Sales growth QoQ-5.82%
Sales growth YoY (latest quarter)-9.15%
Per share
EPS (TTM)Rs -11.25
EPS (latest year)Rs -8.51
EPS (latest quarter)Rs -0.79
EPS, 3-year averageRs -11.17
EPS, 5-year averageRs -3.70
Book value per shareRs 40.74
Sales per shareRs 37.84
Cash flow per shareRs -7.58
Free cash flow per shareRs -7.91
Dividend per share, 5-year averageRs 1.55
Dividends
Dividend payout, 5-year average20.24%
Efficiency
Asset turnover0.07x
Fixed asset turnover5.77x
Cash conversion cycle0 days
Working capital days216 days
Leverage
Total debtRs 109,691 Cr
Cash and bankRs 5,895 Cr
Net debtRs 103,796 Cr
Debt to equity11.92x
Net debt / EBITDA37.88x
Interest coverage0.45x
Owners' fund to total sources7.61%
Debt to assets90.76%
Cash flow
Cash from Operating Activity (latest year)Rs -1,713 Cr
Cash from Investing Activity (latest year)Rs -75 Cr
Cash from Financing Activity (latest year)Rs 1,481 Cr
Net Cash Flow (latest year)Rs -307 Cr
Free cash flow (latest year)Rs -1,788 Cr
FCFE (approx.: FCF + change in debt)Rs -11,101 Cr
Statement figures
Net sales (TTM)Rs 8,549 Cr
Net sales (latest year)Rs 8,932 Cr
Sales (latest quarter)Rs 2,053 Cr
Operating profit excl. other income (latest year)Rs 2,194 Cr
Operating profit (latest quarter)Rs 994 Cr
Other income (TTM)Rs 1,082 Cr
EBITDA (TTM)Rs 2,740 Cr
PBDT (TTM)Rs -3,209 Cr
Profit before tax (TTM)Rs -3,288 Cr
Tax (latest year)Rs -1,256 Cr
Net profit (TTM)Rs -2,542 Cr
Net profit (latest year)Rs -1,923 Cr
Net profit (latest quarter)Rs -178 Cr
Depreciation (TTM)Rs 80 Cr
Interest (TTM)Rs 5,949 Cr
Cost of goods sold (latest year)Rs 47 Cr
Total expenditure (latest year)Rs 6,738 Cr
Total income (latest year)Rs 10,095 Cr
Share capitalRs 2,259 Cr
ReservesRs 6,944 Cr
Shareholders' fundsRs 9,203 Cr
Total assetsRs 120,860 Cr
Net blockRs 1,549 Cr
Capital work in progressRs 8 Cr
InvestmentsRs 37,610 Cr
Other liabilitiesRs 1,966 Cr
Shares outstanding (crore)225.90
Ownership
Promoter holding80.74% (+19.21 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.31 is at the 3th percentile (median 0.73).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
Not enough price history.
Red flags
F-score 2 of 8| look | Share dilution Share count up 187% in a year |
| look | Repeated losses Net loss in each of the last two years |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Dec 2018Sales ₹2,053 Cr -9.2% vs Dec 2017.
Net loss ₹178 Cr.
Activity
CompareNo listed peers in this industry.
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Dena Bank(Merged)?
Dena Bank(Merged) (532121) has a market capitalisation of Rs 2,858 Cr. at the close.
What were Dena Bank(Merged)'s latest quarterly results?
In the Dec 2018 quarter, Dena Bank(Merged) sales was Rs 2,053 Cr (-9.2% vs Dec 2017) with a net loss of Rs 178 Cr.