DHUNINV - Dhunseri Invest.

📊 NSE: DHUNINV 🏢 Finance & Investments 📅 Last Updated: 12/13/2025 21:31

💰 Financial Performance

Revenue Growth by Segment

Total consolidated revenue from operations for H1 FY26 was INR 264.10 Cr, representing a 22% decrease from INR 338.58 Cr in H1 FY25. The 'Sale of Products' (Tea segment) contributed INR 188.87 Cr (71.5% of total revenue), down 15% from INR 222.40 Cr YoY. Treasury operations (Interest + Dividend) contributed INR 13.82 Cr, a 22.5% decline from INR 17.84 Cr YoY.

Profitability Margins

The company experienced a significant shift in profitability due to fair value changes. H1 FY26 recorded a net loss on fair value changes of INR 59.52 Cr compared to a gain of INR 97.68 Cr in H1 FY25. Finance costs as a percentage of total income rose to 14% (INR 41.58 Cr) in H1 FY26 from 6% (INR 22.06 Cr) in H1 FY25.

EBITDA Margin

Not explicitly disclosed; however, finance costs for H1 FY26 were INR 41.58 Cr, an 88.5% increase YoY, impacting core profitability.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include green leaf and tea processing inputs. Cost of materials consumed for Q2 FY26 was INR 62.46 Cr, representing 79% of total quarterly revenue from operations.

Raw Material Costs

Cost of materials consumed for H1 FY26 was not fully aggregated, but Q2 FY26 costs were INR 62.46 Cr. Management monitors market volatility to manage procurement.

📈 Strategic Growth

Growth Strategy

The company aims to achieve growth by monitoring market conditions to use opportunities at the 'right moment' for capital appreciation in treasury assets and maintaining harmonious industrial relations in its tea operations. It focuses on long-term investment holdings to insulate against market volatility.

Products & Services

Tea products, Treasury investment services (holding equity and debt instruments for capital appreciation).

Brand Portfolio

Dhunseri.

Market Expansion

Management is exploring new opportunities for expansion as the Indian economy becomes more insulated globally, though specific regions are not named.

Strategic Alliances

The company has investments in various subsidiaries and associates, though specific new JV partners were not named in the current period.

🌍 External Factors

Industry Trends

The Indian economy is creating a mark on a global level, but the NBFC sector faces hindrances due to small size and market unpredictability. The company is positioning itself to monitor these trends and act on opportunities.

Competitive Landscape

Operates as a small-size NBFC in a volatile market with plenty of hindrances that may hamper growth.

Competitive Moat

The company's moat is built on its long-term investment holding strategy and its established presence in the tea segment. This strategy is designed to withstand temporary market fluctuations, though its sustainability is tied to management's ability to monitor market shifts.

Macro Economic Sensitivity

Highly sensitive to financial market volatility and Indian economic growth trends. Slowdowns in economic growth adversely affect the company's predictable performance.

Geopolitical Risks

Global industry downtrends and significant changes in the political environment in India are cited as important development risks.

⚖️ Regulatory & Governance

Industry Regulations

Subject to NBFC regulations and Companies Act 2013 provisions. Compliance with SEBI (LODR) and Insider Trading regulations is maintained.

Legal Contingencies

The company reported no pending litigations as of March 31, 2025, that would impact its financial position. No material foreseeable losses on long-term or derivative contracts were identified.