Dhani Services Limited, through an exchange filing as of 31st March, announced that it has undergone some leadership changes. The filing further mentioned Mr. Sameer Gehlaut moving to the role of Non-Executive Chairman of the Company and the board appointing Mr. Divyesh B. Shah, a whole-time director and COO of the Company, as Chief Executive Officer of the Company w.e.f. 31st March 2023.
Due to the above developments happening in the company, the stock price jumped during the first week of April and moved from Rs 27 to Rs 40.15 delivering returns of around 50 percent in just five trading sessions.
Dhani Services Limited is an India-based data-driven technology company offering an online marketplace for Indian consumers who can also avail credit facilities for purchases on its platform. The company is engaged in the business of providing tech-enabled healthcare and transaction finance services through its subscription-based model.
It also runs online stores through which customers can get their hands on all daily need items including Personal Care, Kitchen Care, Baby & Mother Care, Stationery, and Healthcare. Other financial services of the company include investing, trading, and growing their wealth through smart stock broking solutions with ‘Dhani Stocks’.
Having a look at the financials represented by the company, the revenues generated have gone down from Rs 490 crores in Q3 FY21-22 to Rs 148 crores in Q3 FY22-23. During the same time frame, the company provided, though negative, reported comparatively better net loss numbers with a shift of losses from Rs 218 crores in Q3 FY21-22 to losses of Rs 92 crores in Q3 FY22-23.
The basic profitability ratios of the company have worsened on a YoY basis with ROE shifting from negative returns of 4.56 percent during FY20-21 to negative returns of 17.02 percent in FY21-22. ROCE figures transitioned from positive returns of 3.27 percent in FY20-21 to negative returns of 7.68 percent in FY21-22.
The debt to equity ratio of the company has shown some sort of relief as far as the numbers are concerned with a reduction from 0.7 in FY20-21 to 0.45 in FY21-22.
According to the data available as on December 2022, promoters hold a 32.89 percent stake in the company. FIIs, too, reduced their stake from 18.34 percent in Q2 FY22-23 to 15.87 percent in Q3 FY22-23.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
