MSME (Udyam registered) Ministry of MSME
- Udyam number
- UDYAM-RJ-22-0004381
Market Cap
₹196 Cr
DHARIWAL-SM · NSE
Share Price
₹21.50
+3.37% today
Revenue
₹236 Cr
FY 2025-26
EBITDA
₹6.25 Cr
Margin 2.6%
Net Profit
₹6.73 Cr
FY 2025-26
P/E (TTM)
30.4x
P/B 3.3x
ROE
11.0%
ROCE 16.4%
Debt / Equity
0.12
Interest cover 25.0x
About Dhariwalcorp Limited
Data last updated:
Dhariwalcorp Limited is a public limited company based in Jodhpur, Rajasthan, India. It operates in the industrial chemicals segment of the chemicals and materials sector. It was incorporated on 14 June 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Jaipur, under CIN U24242RJ2020PLC069105. Its GSTIN is 08AAHCD7783R1ZL (Rajasthan). The company holds 3 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on NSE: DHARIWAL.
The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹18.8 Cr. It is led by directors including Manish Dhariwal (Managing Director) and Shakshi Dhariwal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 01 September 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 36 Narayan Nagar Jodhpur (M Corp) Shobhawato Ki Dhani Pal Link Road, Rajasthan, India – 342001.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹236.4 Cr. For the same year it recorded a net profit of ₹6.73 Cr (net margin 2.8%) and EBITDA of ₹6.25 Cr (EBITDA margin 2.6%). The net worth stands at ₹61.35 Cr. Total assets are valued at ₹68.93 Cr.
The company is associated with 1 brand: Dhariwal Corporation. As per MCA filings, the company has open charges of ₹21.11 Cr and satisfied charges of ₹90 Lakh on record. The company has 2 deals on record (1 rights issue, 1 ipo); the latest was in August 2024.
Dhariwalcorp Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-RJ-22-0004381). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website dhariwalcorporation.in.
Company details
CIN U24242RJ2020PLC069105
Registration Number 069105
Incorporation Date 14 June 2020
ROC Jaipur
Listing Status Listed (NSE: DHARIWAL)
Company Status Active
Date of Last AGM 01 September 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-RJ-22-0004381
CIN history
Dhariwalcorp has one previous CIN (Corporate Identification Number): U24242RJ2020PTC069105. The current CIN is U24242RJ2020PLC069105, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24242RJ2020PLC069105 | Current |
| U24242RJ2020PTC069105 | Previous |
Key People
Manish Dhariwal Managing Director Shakshi Dhariwal Whole-Time Director Dilip Dhariwal Director Recognitions & Rankings of Dhariwalcorp
Contact details
Dhariwalcorp Limited's registered office is in Jodhpur, Rajasthan. Its website is dhariwalcorporation.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address36 Narayan Nagar Jodhpur (M Corp) Shobhawato Ki Dhani Pal Link Road, Rajasthan, India – 342001
- IndustryChemicals and Materials, Industrial Chemicals, Petrochemicals & Derivatives
To see the full contact details of Dhariwalcorp Limited, buy the company report.
Comprehensive company report
Dhariwalcorp Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Dhariwalcorp operates one associated brand: Dhariwal Corporation. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Wax products and industrial chemicals are manufactured and exported. | dhariwalcorporation.com |
Business activity
The main business activity of Dhariwalcorp is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Dhariwalcorp Limited, buy the company report.
Financials of Dhariwalcorp Limited
FY 2025-26 filings availableDhariwalcorp Limited reported revenue of ₹236.4 Cr for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹236 Cr
EBITDA
₹6.25 Cr
Profit After Tax
₹6.73 Cr
Net Worth
₹61.35 Cr
Total Assets
₹68.93 Cr
Total Debt
₹7.53 Cr
Financial summary ₹ Cr
| Metrics | FY 2025-26 |
|---|---|
| Income statement | |
| Revenue | 236 |
| EBITDA | 6.25 |
| EBITDA margin | +2.6% |
| Profit before tax | 11.32 |
| Net profit | 6.73 |
| Net profit margin | +2.9% |
| EPS (₹) | 0.91 |
| Balance sheet | |
| Total assets | 68.93 |
| Net worth | 61.35 |
| Total debt | 7.53 |
| Cash & bank | 1.56 |
| Net working capital | 40.49 |
| Cash flow | |
| Cash from operations | (0.94) |
| Cash from investing | (10.45) |
| Cash from financing | 12.87 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | 236 | 234 | 229 | 194 | 159 |
| Revenue growth | +1.2% | +2.1% | +18.0% | +22.3% | - |
| EBITDA | 6.17 | 3.20 | 4.38 | 0.32 | 1.76 |
| EBITDA margin | +2.6% | +1.4% | +1.9% | +0.2% | +1.1% |
| Profit before tax | 11.32 | 5.00 | 6.03 | 0.86 | 1.88 |
| Net profit | 8.58 | 3.57 | 4.51 | 0.60 | 1.43 |
| Net profit margin | +3.6% | +1.5% | +2.0% | +0.3% | +0.9% |
| EPS (₹) | 0.97 | 3.97 | 6.85 | 59.84 | 142.41 |
| Balance sheet | |||||
| Total assets | 68.88 | 46.04 | 17.54 | 8.70 | 7.63 |
| Net worth | 61.35 | 34.62 | 8.75 | 2.51 | 1.92 |
| Total debt | 7.53 | 11.42 | 8.79 | 6.18 | 5.71 |
| Cash & bank | 1.56 | 0.07 | 0.12 | 0.09 | 0.07 |
| Net working capital | 40.39 | 33.17 | 12.81 | 7.22 | 6.04 |
| Cash flow | |||||
| Cash from operations | (0.94) | (13.19) | (0.48) | 0.80 | 0.96 |
| Cash from investing | (10.45) | (10.89) | (3.26) | 0.02 | (0.37) |
| Cash from financing | 12.87 | 24.03 | 3.76 | (0.79) | (0.54) |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 27 Oct 2026
| Particulars | FY 2025-26 |
|---|---|
| Revenue | 236 |
| Other income | 6.90 |
| Total expenses | 230 |
| Employee cost | 0.50 |
| EBITDA | 6.25 |
| EBITDA margin | +2.6% |
| Depreciation | 0.36 |
| Interest | 1.47 |
| Profit before tax | 11.32 |
| Tax | 2.74 |
| Net profit | 6.73 |
| Net profit margin | +2.9% |
| EPS (₹) | 0.91 |
| Particulars | FY 2025-26 |
|---|---|
| Equity & liabilities | |
| Share capital | 18.80 |
| Reserves & surplus | 42.55 |
| Shareholders' funds (net worth) | 61.35 |
| Minority interest | 0.05 |
| Secured loans | 7.53 |
| Unsecured loans | 0.00 |
| Total debt | 7.53 |
| Total liabilities | 68.93 |
| Assets | |
| Gross block | 15.81 |
| Net block | 14.92 |
| Capital work in progress | 7.02 |
| Investments | 6.78 |
| Inventories | 24.96 |
| Sundry debtors | 11.33 |
| Cash & bank balances | 1.56 |
| Loans & advances | 12.20 |
| Total current assets | 50.05 |
| Total current liabilities | 9.56 |
| Net working capital | 40.49 |
| Total assets | 68.93 |
| Particulars | FY 2025-26 |
|---|---|
| Opening cash | 0.07 |
| Net cash from operating activities | (0.94) |
| Net cash from investing activities | (10.45) |
| Net cash from financing activities | 12.87 |
| Net change in cash | 1.49 |
| Closing cash | 1.56 |
| Particulars | FY 2025-26 |
|---|---|
| Growth | |
| PBT growth | +9997.0% |
| Profitability & leverage | |
| Net income margin | +3.6% |
| Return on capital employed | +16.4% |
| Return on net worth | +11.0% |
| Debt / equity | 0.12 |
| Long-term debt / equity | 0.03 |
| Interest cover | 24.96 |
| Efficiency & per share | |
| Fixed asset turnover | 14.95 |
| Inventory turnover | 9.47 |
| Debtors turnover | 20.86 |
| EPS (₹) | 0.91 |
| Dividend per share (₹) | 0.00 |
| Book value per share (₹) | 6.53 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Revenue | 236 | 234 | 229 | 194 | 159 |
| Revenue growth | +1.2% | +2.1% | +18.0% | +22.3% | - |
| Other income | 6.90 | 2.96 | 2.31 | 1.27 | 0.62 |
| Total expenses | 230 | 230 | 224 | 194 | 157 |
| Employee cost | 0.00 | 0.95 | 0.64 | 0.30 | 0.47 |
| EBITDA | 6.17 | 3.20 | 4.38 | 0.32 | 1.76 |
| EBITDA margin | +2.6% | +1.4% | +1.9% | +0.2% | +1.1% |
| Depreciation | 0.36 | 0.25 | 0.09 | 0.11 | 0.08 |
| Interest | 1.39 | 0.91 | 0.57 | 0.62 | 0.42 |
| Profit before tax | 11.32 | 5.00 | 6.03 | 0.86 | 1.88 |
| Tax | 2.74 | 1.43 | 1.52 | 0.26 | 0.45 |
| Net profit | 8.58 | 3.57 | 4.51 | 0.60 | 1.43 |
| Net profit margin | +3.6% | +1.5% | +2.0% | +0.3% | +0.9% |
| EPS (₹) | 0.97 | 3.97 | 6.85 | 59.84 | 142.41 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Equity & liabilities | |||||
| Share capital | 18.80 | 8.95 | 6.58 | 0.10 | 0.10 |
| Reserves & surplus | 42.55 | 25.67 | 2.17 | 2.41 | 1.82 |
| Shareholders' funds (net worth) | 61.35 | 34.62 | 8.75 | 2.51 | 1.92 |
| Secured loans | 7.53 | 11.42 | 7.69 | 1.84 | 2.07 |
| Unsecured loans | 0.00 | 0.00 | 1.10 | 4.34 | 3.64 |
| Total debt | 7.53 | 11.42 | 8.79 | 6.18 | 5.71 |
| Total liabilities | 68.88 | 46.04 | 17.54 | 8.70 | 7.63 |
| Assets | |||||
| Gross block | 15.81 | 6.99 | 1.92 | 1.73 | 1.70 |
| Net block | 14.92 | 6.46 | 1.64 | 1.54 | 1.61 |
| Capital work in progress | 7.02 | 3.04 | 3.14 | 0.00 | 0.00 |
| Investments | 6.83 | 3.71 | 0.02 | 0.00 | 0.00 |
| Inventories | 24.96 | 26.60 | 5.12 | 4.72 | 1.62 |
| Sundry debtors | 11.33 | 16.94 | 7.73 | 11.08 | 8.64 |
| Cash & bank balances | 1.56 | 0.07 | 0.12 | 0.09 | 0.07 |
| Loans & advances | 12.15 | 10.80 | 3.55 | 2.18 | 1.57 |
| Total current assets | 50.00 | 54.41 | 16.52 | 18.07 | 11.90 |
| Total current liabilities | 9.61 | 21.24 | 3.71 | 10.85 | 5.86 |
| Net working capital | 40.39 | 33.17 | 12.81 | 7.22 | 6.04 |
| Total assets | 68.88 | 46.04 | 17.54 | 8.70 | 7.63 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Opening cash | 0.07 | 0.12 | 0.09 | 0.07 | 0.02 |
| Net cash from operating activities | (0.94) | (13.19) | (0.48) | 0.80 | 0.96 |
| Net cash from investing activities | (10.45) | (10.89) | (3.26) | 0.02 | (0.37) |
| Net cash from financing activities | 12.87 | 24.03 | 3.76 | (0.79) | (0.54) |
| Net change in cash | 1.49 | (0.05) | 0.03 | 0.02 | 0.04 |
| Closing cash | 1.56 | 0.07 | 0.12 | 0.09 | 0.07 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Growth | |||||
| Sales growth | +1.2% | +2.1% | +18.0% | +22.3% | - |
| EBITDA growth | +92.8% | -26.9% | +1268.8% | -81.8% | - |
| PBT growth | +126.4% | -17.1% | +601.2% | -54.3% | +9997.0% |
| Net income growth | +140.3% | -20.8% | +651.7% | -58.0% | - |
| Revenue CAGR (3Y) | +6.8% | +13.8% | - | - | - |
| EBITDA CAGR (3Y) | +168.2% | +22.1% | - | - | - |
| Profitability & leverage | |||||
| Net income margin | +3.6% | +1.5% | +2.0% | +0.3% | +0.9% |
| Return on capital employed | - | +18.6% | +50.3% | +18.1% | +30.0% |
| Return on net worth | - | +16.4% | +80.1% | +27.1% | +74.0% |
| Debt / equity | - | 0.47 | 1.33 | 2.68 | 2.97 |
| Long-term debt / equity | - | 0.11 | 0.24 | 0.24 | 0.32 |
| Interest cover | 23.92 | 30.85 | 13.29 | 295.24 | 25.00 |
| Efficiency & per share | |||||
| Fixed asset turnover | - | 52.42 | 125.37 | 113.08 | 93.28 |
| Inventory turnover | - | 14.72 | 46.50 | 61.18 | 97.89 |
| Debtors turnover | - | 18.93 | 24.33 | 19.67 | 18.35 |
| EPS (₹) | 0.97 | 3.97 | 6.85 | 59.84 | 142.41 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 38.67 | 13.30 | 251.42 | 191.58 |
To see the full year-wise statements and ratios of Dhariwalcorp Limited, buy the company report.
Board of directors of Dhariwalcorp Limited
Dhariwalcorp has 8 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manish Dhariwal Also directs: Dhariwal House of Spices Limited | Managing Director | 14 Jun 2020 | 6 Years 4 Months | Current |
| Shakshi Dhariwal | Whole-Time Director | 14 Jun 2020 | 6 Years 4 Months | Current |
| Dilip Dhariwal Also directs: Dhariwal House of Spices Limited | Director | 13 Dec 2023 | 2 Years 10 Months | Current |
| Ashish Mathur Also directs: Dhariwal House of Spices Limited, Marudharneural Tech Solutions LLP, Qnano Advanced Materials Private Limited and 1 more | Director | 06 May 2024 | 2 Years 5 Months | Current |
| Monu Rathi | Director | 06 May 2024 | 2 Years 5 Months | Current |
| Vidhan Dhariwal Also directs: Marudhar Test Lab Private Limited | Director | 01 Sep 2026 | 0 Years 1 Months | Current |
Showing 6 of 8 current directors. View all directors
Auditor
Dhariwalcorp Limited is audited by J.K. DAGA AND ASSOCIATES for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| J.K. DAGA AND ASSOCIATES | FY 2024 | 010314C |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 63.60%, foreign institutional investors hold 0.00%, domestic institutional investors hold 4.00% and retail and other public shareholders hold 32.40%.
Sep 2026
QUARTER
63.60% Promoters
4.00% DII (Domestic Institutional)
32.40% Retail & Others
Promoter holding - history
Now 63.60% · Sep 2026High 73.70% · Dec 2025Low 63.60% · Sep 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 63.60% | 73.70% | 73.70% | 73.70% |
| Public | 36.40% | 26.30% | 26.30% | 26.30% |
Charges & borrowings
Open charges
₹21.11 Cr
Satisfied charges
₹90 Lakh
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Feb 2025 | 101050005 | Hdfc Bank Limited | ₹5 Cr | Open | |
| 02 Feb 2024 | 100908311 | Idbi Bank Limited | ₹3.1 Cr | Open | |
| 18 Sep 2020 | 100387736 | Others | ₹13.01 Cr | Open | |
| 19 May 2023 | 100753917 | Idbi Bank Limited | ₹90 Lakh | Satisfied |
To see the full charge records of Dhariwalcorp Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Dhariwalcorp Limited has 2 deals on record (1 rights issue, 1 ipo); the latest was in August 2024.
Total deals
2
Rights issue
1
IPO
1
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2024 | IPO | ₹25.15 Cr | Investors: IPO - Dhariwalcorp Limited |
| Dec 2023 | Rights issue | ₹1.9 Cr | Investors: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Dhariwalcorp Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Dhariwalcorp Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Dhariwalcorp Limited has 1 active EPFO establishment as of Mar 30, 2024.
Active EPFO establishments
1
GST
Dhariwalcorp has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 08AAHCD7783R1ZL | Rajasthan | Active | 09 Jul 2020 |
| 27AAHCD7783R1ZL | Maharashtra | Active | 25 Aug 2020 |
| 24AAHCD7783R1ZR | Gujarat | Active | 16 Aug 2022 |
To see the full GST registrations and return filing status of Dhariwalcorp Limited, buy the company report.
Recent activity
Dhariwalcorp Limited has 9 board changes on record since 2020: 8 appointments and 1 cessation. The latest: Manshi Sharma was appointed as Director on 01 Sep 2026.
AGM
Dhariwalcorp Limited last Annual general meeting of members was held on 01 Sep 2026 as per latest MCA records.
Appointed
Manshi Sharma was appointed as Director.
Appointed
Nikita Jain was appointed as Director.
Appointed
Vidhan Dhariwal was appointed as Director.
Ceased
Amit Sankhla ceased to be Director.
Filing
Dhariwalcorp Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Jaipur.
Charges
A charge with Others of Rs. 13.01 Cr registered on 18 Sep 2020 with Charge ID 100387736 was modified on 27 Mar 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 5.00 Cr with Charge ID 101050005 was registered on 13 Feb 2025.
Charges
A charge registered on 19 May 2023 via Charge ID 100753917 with Idbi Bank Limited was fully satisfied on 20 May 2024.
Appointed
Ashish Mathur was appointed as Director.
Appointed
Monu Rathi was appointed as Director.
Charges
A charge with Idbi Bank Limited amounted to Rs. 3.10 Cr with Charge ID 100908311 was registered on 02 Feb 2024.
6 earlier events are in the company report.
News
Frequently asked questions
Dhariwalcorp is an active public limited company based in Jodhpur, Rajasthan, India. The company works in industrial chemicals, within the chemicals and materials industry. It was incorporated on 14 June 2020 (6+ years old) and is registered under CIN U24242RJ2020PLC069105. Listed on NSE: DHARIWAL.
Dhariwalcorp reported revenue of ₹236.4 Cr for FY 2025-26 based on consolidated financials.
Dhariwalcorp has 8 current directors:
- Manish Dhariwal - Managing Director
- Shakshi Dhariwal - Whole-Time Director
- Dilip Dhariwal - Director
- Ashish Mathur - Director
- Monu Rathi - Director
- Vidhan Dhariwal - Director
- Nikita Jain - Director
- Manshi Sharma - Director
The latest financial statements of Dhariwalcorp on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 01 September 2026. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Dhariwalcorp is 08AAHCD7783R1ZL, registered in Rajasthan. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 27AAHCD7783R1ZL (Maharashtra), 24AAHCD7783R1ZR (Gujarat).
The CIN (Corporate Identification Number) of Dhariwalcorp is U24242RJ2020PLC069105. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Dhariwalcorp is a listed company as per MCA records. Its shares are listed on NSE (symbol: DHARIWAL).
Dhariwalcorp was incorporated on 14 June 2020, making it 6+ years old. It is registered with the Registrar of Companies, Jaipur.
Dhariwalcorp has 2 deals on record (1 rights issue, 1 ipo); the latest was in August 2024.
Manshi Sharma was appointed as Director on 01 Sep 2026. Nikita Jain was appointed as Director on 01 Sep 2026. Vidhan Dhariwal was appointed as Director on 01 Sep 2026. Dhariwalcorp has 9 board changes on record in total.