MarketFriction

D S Kulkarni Developers Ltd

NSE DSKULKARNI · BSE 523890 · Residential, Commercial Projects
₹26.07 +2.00%
NSE close2026-10-01
52 week range8.60 - 25.56
Market cap₹24.6 Cr.
Insolvency Price band 2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales0.000.000.000.000.000.0075.500.000.000.000.000.00
Expenses5.360.631.563.64-1.640.0167.970.030.030.070.170.08
Operating Profit-5.36-0.63-1.56-3.641.64-0.017.53-0.03-0.03-0.07-0.17-0.08
OPM %9.97%
Other Income0.000.0028.2420.089.4814.1413.9513.9914.1414.1613.8813.99
Interest0.631.5126.6314.2110.1712.6612.8413.4614.0514.2114.4115.11
Depreciation0.000.000.090.040.040.040.040.020.020.020.020.02
Profit before tax-5.99-2.14-0.042.190.911.438.600.480.04-0.14-0.72-1.22
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit-5.99-2.14-0.042.180.911.438.600.470.04-0.15-0.73-1.23
EPS in Rs-5.99-2.14-0.042.180.911.438.600.470.04-0.15-0.73-1.23
Mar 2014Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales30.9194.95203.070.000.000.000.000.000.0075.500.000.00
Expenses-12.8951.33160.981.040.801.602.11635.238.2669.980.290.35
Operating Profit43.8043.6242.09-1.04-0.80-1.60-2.11-635.23-8.265.52-0.29-0.35
OPM %141.70%45.94%20.73%-1,233.33%7.31%
Other Income-7.321.10-3.746.490.060.000.05230.5928.2457.6556.1756.17
Interest9.379.558.2857.2827.111.600.000.0028.7749.8856.1557.78
Depreciation1.453.353.296.005.130.000.600.430.090.170.100.08
Profit before tax25.6631.8226.78-57.83-32.98-3.20-2.66-405.07-8.8813.12-0.37-2.04
Tax %49.14%41.83%47.61%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit13.0518.5014.03-57.83-32.98-3.20-2.66-405.06-8.8813.12-0.36-2.07
EPS in Rs5.067.175.44-22.41-12.78-1.24-1.03-156.99-8.8813.12-0.36-2.07
Dividend Payout %19.77%17.43%22.99%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%%%-100%
Compounded Profit Growth%14%26%-118%
Stock Price CAGR-10%%%%
Return on Equity%%%%
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital25.8025.8025.8025.8025.8025.8025.8025.8025.8010.0010.0010.00
Reserves465.20475.55489.93498.51275.55242.57239.36236.70-168.36-151.54-138.43-138.79
Borrowings405.86485.67533.31743.32873.31887.38887.38884.35731.28465.33519.74543.14
Other Liabilities456.92592.78890.581,002.69778.21790.25792.62790.54355.31623.40564.16511.62
Total Liabilities1,353.781,579.801,939.622,270.321,952.871,946.001,945.161,937.39944.03947.19955.47925.97
Fixed Assets40.4540.4738.8349.0237.5132.3830.7730.1727.2527.6727.3927.29
CWIP0.300.300.390.480.000.000.000.000.000.000.000.00
Investments49.1322.0422.0416.852.852.852.852.852.852.850.120.12
Other Assets1,263.901,516.991,878.362,203.971,912.511,910.771,911.541,904.37913.93916.67927.96898.56
Total Assets1,353.781,579.801,939.622,270.321,952.871,946.001,945.161,937.39944.03947.19955.47925.97
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-64.66-31.91-80.43-180.4739.179.050.36-4.55390.46320.11-4.9332.70
Cash from Investing Activity3.4726.84-0.31-11.42-5.970.060.007.2874.54-0.460.000.00
Cash from Financing Activity75.7314.327.89178.70-33.45-10.900.00-3.03-464.84-318.254.68-32.73
Net Cash Flow14.549.25-72.85-13.20-0.24-1.800.36-0.300.161.39-0.25-0.03
Free Cash Flow-65.18-33.49-82.82-194.4539.179.050.36-4.55390.46320.11-4.9332.70
CFO/OP-165%-49%-163%-389%-3,766%-1,131%-22%216%-61%-3,875%-76%-11,290%
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days23.8239.0912.457.35298.19
Inventory Days19,122,106.6713,373.6614,377.22
Days Payable655,540.0045.1995.52
Cash Conversion Cycle23.8239.0912.457.3513,626.65
Working Capital Days4,016.556,815.622,410.581,479.142,292.54
ROCE %4.18%4.66%4.21%3.60%-0.50%-0.14%-0.23%-73.25%4.36%17.62%13.85%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters95.00%95.00%95.00%95.00%95.00%95.00%95.00%95.00%95.00%95.00%95.00%95.00%
Public5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%
No. of Shareholders8888888884,5824,5434,543

Fundamentals

Market Cap₹ 24.6 Cr.
Current Price₹ 24.6
Book Value₹ -129
ROCE13.8 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-100%
Compounded Profit Growth (TTM)-118%
Standalone figures.
Valuation
Market capRs 26 Cr
Enterprise valueRs 568 Cr
Price to book-0.20x
EV / EBITDA10.17x
EV / EBIT10.18x
Price to cash flow0.80x
Earnings yield-7.94%
P/E, 3-year average1.03x
P/B, 3-year average-0.10x
P/E, 5-year average1.03x
P/B, 5-year average-0.08x
Profitability
ROE0.28%
ROCE13.85%
ROA-0.04%
ROE, 3-year average-1.06%
ROCE, 3-year average11.94%
ROA, 3-year average0.13%
ROE, 5-year average-135.93%
ROCE, 5-year average-2.22%
ROA, 5-year average-5.57%
ROIC (approx.)13.50%
Other income / net worth-43.61%
Growth
Profit growth (latest year)-102.74%
Profit growth YoY (latest quarter)-361.70%
Per share
EPS (TTM)Rs -2.07
EPS (latest year)Rs -0.36
EPS (latest quarter)Rs -1.23
EPS, 3-year averageRs 1.29
EPS, 5-year averageRs -30.83
Book value per shareRs -128.79
Cash flow per shareRs 32.70
Free cash flow per shareRs 32.70
Efficiency
Inventory turnover0.00x
Creditor days96 days
Cash conversion cycle13627 days
Working capital days2293 days
Leverage
Total debtRs 543 Cr
Cash and bankRs 2 Cr
Net debtRs 542 Cr
Debt to equity-4.22x
Net debt / EBITDA9.70x
Interest coverage0.96x
Owners' fund to total sources-13.91%
Debt to assets58.66%
Cash flow
Cash from Operating Activity (latest year)Rs 33 Cr
Cash from Financing Activity (latest year)Rs -33 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 33 Cr
FCFE (approx.: FCF + change in debt)Rs 56 Cr
Statement figures
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 56 Cr
EBITDA (TTM)Rs 56 Cr
PBDT (TTM)Rs -2 Cr
Profit before tax (TTM)Rs -2 Cr
Net profit (TTM)Rs -2 Cr
Net profit (latest year)Rs -0 Cr
Net profit (latest quarter)Rs -1 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 58 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total income (latest year)Rs 56 Cr
Share capitalRs 10 Cr
ReservesRs -139 Cr
Shareholders' fundsRs -129 Cr
Total assetsRs 926 Cr
Net blockRs 27 Cr
InvestmentsRs 0 Cr
ReceivablesRs 10 Cr
InventoryRs 874 Cr
Other liabilitiesRs 512 Cr
Shares outstanding (crore)1.00
Ownership
Promoter holding95.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodDSKULKARNINifty 50Difference
1 week+10.4%-2.8% +13.2 pts
1 month+51.0%-6.8% +57.7 pts
3 months+41.3%-7.6% +48.9 pts
6 months+14.1%+0.4% +13.7 pts
1 year-56.1%-9.9% -46.2 pts
2 years-65.9%-13.6% -52.3 pts
3 years+92.4%+14.2% +78.2 pts
5 years+92.4%+27.9% +64.5 pts

Red flags

F-score 3 of 6
seriousNegative equity Shareholders' equity is negative
lookOn NSE surveillance On NSE surveillance: Insolvency
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

Jun 2026
Sales ₹0 Cr. Net loss ₹1 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2020-12-22 Annual General Meeting
2017-09-21 Annual General Meeting
2016-09-22 Annual General Meeting/Dividend - Rs 1.25 Per Share
2015-09-23 Annual General Meeting/ Dividend - Rs 1.25/- Per Share
2014-09-23Annual General Meeting / Dividend - Re 1/- Per Share
2013-09-23Annual General Meeting / Dividend - Re 1/- Per Share
2012-09-17Annual General Meeting/ Dividend Rs 1 Per Share
2011-09-20Annual General Meeting And Dividend - Re. 1 Per Share
2010-09-20Annual General Meeting And Dividend Re.1/- Per Share
2009-09-17Agm/Div-Re.1/- Per Share
2008-09-18Agm/Dividend - 20% Bc End Date Revised
2007-09-21Agm/Dividend-20%
2006-09-21Agm/Dividend-20% Purpose Revised
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.
Insolvency Resolution Process(IRP)Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of D S Kulkarni Developers Ltd?

D S Kulkarni Developers Ltd (DSKULKARNI) has a market capitalisation of Rs 24.6 Cr. at the 2026-10-01 close.

What were D S Kulkarni Developers Ltd's latest quarterly results?

In the Jun 2026 quarter, D S Kulkarni Developers Ltd sales was Rs 0 Cr with a net loss of Rs 1 Cr.

What is the 52-week high and low of D S Kulkarni Developers Ltd?

The 52-week high is Rs 25.56 and the 52-week low is Rs 8.60.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03