Dollar Industries Limited (DOLLAR)
₹275.00 +0.75% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Dollar Industries' revenue was ₹405 Cr (+1.4% year on year, -34.9% on the previous quarter), and net profit ₹26.3 Cr (+20.4% year on year); the operating margin was 11.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹405 | +1.4% | -34.9% |
| Operating profit | ₹47.8 | +11.4% | -17.6% |
| Net profit | ₹26.3 | +20.4% | -20.5% |
| EPS (₹) | 4.59 | +22.1% | -20.0% |
| Operating margin | 11.8% | — | — |
DOLLAR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 48.16% of the DOLLAR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.15%. That is lower than usual for this stock. Turnover was only ₹85 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 63.0% · 63.6% · 52.9% · 60.2% · 48.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Dollar Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent M/s. Niche Technologies Private Limited confirms the processing, cancellation, and mutilation of dematerialised share certificates. The document is a standard quarterly regulatory submission with no impact on business operations or financials.
- Compliance certificate filed for the quarter ended 30th September 2026
- Issued by RTA M/s. Niche Technologies Private Limited on 06.10.2026
- Filing submitted to exchanges on 09.10.2026
Dollar Industries has scheduled participation in the 'Bharat Connect Conference: Rising Stars' hosted by Arihant Capital Markets Ltd on September 29, 2026, at 3:00 PM. The company stated that discussions will be limited to publicly available information with no unpublished price-sensitive information shared. This is a standard investor interaction filing with no direct financial impact on the company's ₹1,887 crore TTM revenue base.
- Investor conference scheduled for September 29, 2026, at 3:00 P.M.
- Hosted by Arihant Capital Markets Ltd under the 'Bharat Connect Conference: Rising Stars' banner
- No unpublished price-sensitive information (UPSI) will be disclosed
- Filing made in compliance with Regulation 30 of SEBI LODR Regulations on September 16, 2026
In its Q1 earnings call, Dollar Industries reported operating income of ₹405 crore (up 1.4% YoY) and a 22.1% YoY increase in PAT to ₹26 crore, supported by calibrated price hikes. Operating EBITDA grew 11.4% YoY to ₹48 crore with margins expanding 106 bps to 11.8%. Net debt reduced significantly to ₹192 crore from ₹277 crore in March 2026, lowering net debt-to-equity to 0.20x. Management provided full-year FY guidance of 11% to 13% revenue growth and 11.5% to 12.5% EBITDA margins.
- Q1 operating income stood at ₹405 crore with gross profit margin expanding 192 bps YoY to 37.4%
- Operating EBITDA rose 11.4% YoY to ₹48 crore (11.8% margin), while PAT grew 22.1% YoY to ₹26 crore
- Net debt decreased by ₹85 crore to ₹192 crore as of June 30, 2026, compared to ₹277 crore in March 2026
- Quick commerce revenue grew 59.4% in value YoY, accounting for 5% of total revenue vs 3.1% in Q1 FY26
- Management guided FY revenue growth between 11% to 13% and EBITDA margin between 11.5% to 12.5%
Dollar Industries has published the audio recording of its earnings conference call held on August 11, 2026, regarding the unaudited financial results for the quarter ended June 30, 2026. The company reported a TTM revenue of ₹1,881.41 Cr and a PAT of ₹107.08 Cr as of March 2026. This filing is a procedural requirement under SEBI LODR regulations to ensure transparency for retail investors who could not attend the live session. The recording is available on the company's official website.
- Earnings conference call conducted on August 11, 2026, at 4:00 P.M. IST
- Covers unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
- Company maintains a strong promoter holding of 72.48% as of March 2026
- Management previously targeted a sustainable long-term EBITDA margin of 14%
Dollar Industries reported a modest 1.4% YoY revenue growth to ₹404.8 Cr in Q1 FY27, but achieved significant margin expansion. PAT grew 22.1% YoY to ₹26.0 Cr, supported by a 192 bps improvement in gross margins to 37.4% following calibrated price hikes. A key highlight is the sharp reduction in net debt, which fell from ₹276.8 Cr in March 2026 to ₹192.3 Cr in June 2026. The company is seeing strong traction in Quick Commerce (+59.4% value growth) and the Southern region (+22.9% value growth).
- PAT increased by 22.1% YoY to ₹26.0 Cr, with PAT margins improving to 6.4%.
- Operating EBITDA margin expanded by 106 bps YoY to 11.8% despite a 1.7% decline in overall volumes.
- Net Debt reduced by ₹84.5 Cr (approx. 30.5%) in a single quarter to ₹192.3 Cr.
- Quick commerce channel contribution increased to 5.0% of revenue, up from 3.1% in the previous year.
- The 'Dollar Protect' segment recorded a value growth of 49.0% and volume growth of 68.0%.
Dollar Industries reported a strong 22.1% YoY increase in PAT to ₹26.02 Cr for Q1 FY27, despite a modest 1.4% growth in operating income to ₹404.81 Cr. Profitability was primarily driven by a 192 bps expansion in gross margins to 37.4%, aided by calibrated price increases and a shift toward high-margin segments. The 'Dollar Protect' segment and Quick Commerce channel showed exceptional growth, rising 49% and 59.4% in value respectively. The company has now commenced Phase 2 of Project Lakshya to deepen its retail footprint in stronghold states.
- PAT increased 22.1% YoY to ₹26.02 Cr, with PAT margins improving by 108 bps to 6.4%.
- Operating EBITDA grew 11.4% YoY to ₹47.77 Cr, with margins expanding to 11.8% from 10.7% in Q1 FY26.
- Quick Commerce channel value grew 59.4% YoY, now contributing 5.0% of total revenue compared to 3.1% last year.
- The South India region delivered 22.9% value growth, increasing its revenue contribution to 8.9%.
- Dollar Protect (rain guard segment) recorded 68.0% volume growth and contributed 5.6% to overall revenue.
Dollar Industries reported a standalone PAT of ₹24.46 Cr for the quarter ended June 30, 2026, marking a 24.6% increase from ₹19.62 Cr in the same period last year. Revenue from operations remained nearly stagnant at ₹389.07 Cr, representing a marginal 1.36% YoY growth. The company achieved better profitability through cost management, as total expenses slightly decreased to ₹357.11 Cr from ₹358.84 Cr YoY. A major composite scheme of arrangement to merge eight related entities is currently awaiting final NCLT approval to reduce related-party transactions.
- Standalone PAT increased by 24.6% YoY to ₹24.46 Cr from ₹19.62 Cr.
- Revenue from operations stood at ₹389.07 Cr, a slight increase of 1.36% over ₹383.85 Cr in Q1 FY26.
- Standalone Basic EPS improved to ₹4.31 from ₹3.46 in the year-ago quarter.
- Consolidated PAT attributable to owners was reported at ₹26.02 Cr for the quarter.
- Composite Scheme of Arrangement involving 8 transferor companies has received Stock Exchange approval and is pending final NCLT clearance.
Dollar Industries has announced its participation in the 'Emkay Confluence 2026- India Full Throttle Ahead' investor conference scheduled for August 14, 2026. The management will engage with institutional investors starting at 10:00 A.M. The company clarified that no unpublished price-sensitive information (UPSI) will be shared, with discussions limited to publicly available data. This comes as the company maintains a TTM revenue of ₹1,881 Cr and a PAT of ₹107 Cr.
- Investor conference scheduled for August 14, 2026, at 10:00 A.M.
- Participation in the 'Emkay Confluence 2026' institutional meet.
- Company reported FY26 revenue of ₹1,881.41 Cr, a growth from ₹1,710.59 Cr in FY25.
- Promoter holding remains high and stable at 72.48% as of March 2026.
- Management targeting 11-12% volume-driven revenue growth for the upcoming period.
Dollar Industries has scheduled its Q1 FY27 earnings conference call for August 11, 2026, at 4:00 PM IST. The call will feature senior management, including the CFO and President of Marketing, to discuss the company's quarterly performance. This follows a fiscal year (FY26) where the company reported a TTM revenue of ₹1,881 Cr and a PAT of ₹107 Cr. Investors will be looking for updates on the company's progress toward its ₹2,000 Cr revenue milestone and its long-term EBITDA margin target of 14%.
- Earnings conference call scheduled for August 11, 2026, at 4:00 PM IST
- Management participants include the CFO, President of Marketing, and VP of Strategy
- Company reported TTM revenue of ₹1,881 Cr with an operating profit margin of 10.6%
- Targeting a 50% sales increase in South India to reach 20% of domestic revenue
- Promoter holding remains high at 72.48% as of March 2026
Dollar Industries Limited concluded its 33rd Annual General Meeting (AGM) on August 4, 2026. Shareholders voted on eight resolutions, including the adoption of FY26 audited financial statements and the declaration of a dividend. Key management re-appointments were a primary focus, with special resolutions proposed for the Managing Director, Joint Managing Director, and two Whole-time Directors. The company reported a TTM revenue of ₹1,881.41 Cr and a PAT of ₹107.08 Cr for the period ending March 2026.
- 33rd Annual General Meeting held on August 4, 2026, with 110 members in attendance.
- Shareholders voted on the declaration of dividend for the financial year ended March 31, 2026.
- Special resolutions proposed for the re-appointment of Mr. Vinod Kumar Gupta as Managing Director and Mr. Binay Kumar Gupta as Joint Managing Director.
- Company reported FY26 annual revenue of ₹1,881.41 Cr, representing a 10% growth over FY25.
- Remote e-voting was conducted from August 1 to August 3, 2026, prior to the meeting.
Dollar Industries Limited held its 33rd Annual General Meeting on August 4, 2026, to approve the financial results for FY26 and declare a dividend. The company reported a TTM revenue of ₹1,881.41 crore and a PAT of ₹107.08 crore, reflecting a steady performance with a 10.63% operating margin. Shareholders voted on the re-appointment of four key promoter-directors, including Managing Director Vinod Kumar Gupta. The meeting also ratified the remuneration for cost auditors for the upcoming 2026-27 financial year.
- 33rd Annual General Meeting conducted on August 4, 2026, with 110 members attending.
- Shareholders voted on 8 resolutions, including the adoption of standalone and consolidated financial statements for FY26.
- Proposed re-appointment of Vinod Kumar Gupta as Managing Director and Binay Kumar Gupta as Joint Managing Director.
- Company reported FY26 revenue of ₹1,881.41 crore, a growth from ₹1,710.59 crore in FY25.
- Dividend declaration for FY26 was put to vote as an ordinary resolution.
Shareholders and unsecured creditors of Dollar Industries have approved a Composite Scheme of Arrangement to merge nine group entities into the company. In the court-convened meeting held on July 22, 2026, the resolution received 97.76% support from voting shareholders, with 100% support from the promoter group. The entities involved include Dollar Brands Pvt Ltd and Bhawani Yarns Pvt Ltd. This consolidation aims to reduce related-party transactions and rationalize operational costs, moving the company toward a leaner corporate structure.
- 97.76% of total votes cast were in favor of the Composite Scheme of Arrangement
- 9 group entities are being consolidated into Dollar Industries Limited to reduce related-party transactions
- 4,19,39,394 total votes were cast in favor of the resolution across all categories
- 97.78% of public non-institutional shareholders voted in favor of the scheme
- The meeting was conducted following an NCLT Kolkata Bench order dated May 11, 2026
Dollar Industries held NCLT-convened meetings on July 22, 2026, to seek approval for a Composite Scheme of Arrangement involving the merger of nine group entities into the company. The entities include Dollar Brands, Bhawani Yarns, and several property and trading firms, a move aimed at reducing related-party transactions and rationalizing costs. A total of 68 equity shareholders and 28 unsecured creditors attended the virtual meetings. While formal voting results are pending the Scrutinizer's report, this consolidation is a key step in simplifying the corporate structure as the company targets a Rs 2,000 Cr revenue milestone.
- Merger involves 9 distinct entities including Dollar Brands and Bhawani Yarns being folded into the listed parent.
- 68 Equity Shareholders attended the NCLT-convened meeting held via video conferencing on July 22, 2026.
- 28 Unsecured Creditors participated in a separate meeting to vote on the scheme.
- Remote e-voting was conducted between July 19, 2026, and July 21, 2026, for eligible stakeholders.
- The scheme is being processed under Sections 230 to 232 of the Companies Act, 2013, following an NCLT order dated May 11, 2026.
Dollar Industries has completed the electronic dispatch of its Annual Report and Annual General Meeting (AGM) notice for the financial year 2025-26. This is a standard regulatory compliance step under SEBI (LODR) Regulations. The company, which reported a TTM revenue of ‑1,881 Cr and a PAT of ‑107 Cr, uses this report to communicate its strategic progress to shareholders. Key focus areas for the upcoming year include reaching the ‑2,000 Cr revenue milestone and expanding its South India market share to 20% of domestic revenue.
- Completed dispatch of Annual Report and AGM Notice for FY 2025-26 on July 13, 2026.
- Company reported TTM revenue of ‑1,881 Cr with an operating profit margin of 10.6%.
- Maintains a strong promoter holding of 72.5% as of March 2026.
- Targeting a 12% volume-driven revenue growth rate for the upcoming fiscal year.
Dollar Industries Limited has announced July 28, 2026, as the record date for determining shareholder eligibility for the FY 2025-26 dividend. The company will also hold its 33rd Annual General Meeting (AGM), with the register of members closed from July 29 to August 4, 2026. This follows a fiscal year where the company achieved a TTM revenue of Rs 1,881 Cr and a PAT of Rs 107 Cr. The specific dividend amount per share was not disclosed in this specific filing but pertains to the full year's performance.
- Record date for dividend entitlement set for July 28, 2026
- Book closure period scheduled from July 29, 2026, to August 4, 2026
- Announcement pertains to the 33rd Annual General Meeting and FY 2025-26 dividend
- Company maintains a TTM EPS of Rs 18.94 as of the latest financial data
Financial Performance
Revenue Growth by Segment
Dollar Always contributed 41% of H1FY26 revenue, followed by Dollar Man at 37%. The Athleisure segment contributes approximately 13% to total sales, while Dollar Thermal, a high-margin product, accounts for 9%. The premium segment witnessed a significant 25.1% volume growth YoY in Q2FY26.
Geographic Revenue Split
Domestic sales accounted for INR 1,644.69 Cr (96.1%) of FY25 revenue, while exports contributed INR 65.77 Cr (3.9%). South India is a key growth region, delivering 8% value growth and 10.4% volume growth YoY in Q2FY26.
Profitability Margins
Gross profit margin stood at 34.8% in Q2FY26, up 127 bps YoY. PAT margin improved to 7.4% in Q2FY26 from 5.9% in Q2FY25, reflecting a 151 bps expansion driven by cost discipline and better product mix.
EBITDA Margin
Operating EBITDA margin expanded by 183 bps YoY to 12.8% in Q2FY26. For H1FY26, EBITDA margin improved to 11.89% from 10.56% in H1FY25, primarily due to stabilized raw material prices and a reduction in advertising expenses from 7.2% to 6.2% of operating income.
Capital Expenditure
The company stated there are no major Capex plans in the near term as of September 2025, focusing instead on strengthening free cash flow and debt reduction. Net fixed assets stood at INR 272.7 Cr as of September 30, 2025.
Credit Rating & Borrowing
The company maintains a strong financial risk profile with a gearing of 0.36 times as of March 2024. Net debt stood at INR 322.2 Cr as of September 2025, with a comfortable net debt to EBITDA ratio of 1.56, improving from 1.80 in FY25.
Operational Drivers
Raw Materials
Cotton and Yarn are the primary raw materials. Their price stabilization has been a key driver for the recovery of operating margins from 10.02% in FY24 to 11.89% in H1FY26.
Capacity Expansion
Current installed capacity is not explicitly stated in units; however, the company expects fixed cost rationalization and operating leverage to kick in significantly once revenue crosses the INR 2,000 Cr mark.
Raw Material Costs
Raw material costs are reflected in the gross margin of 34.8%. The company benefits from the stabilization of cotton and yarn prices, which previously caused margin compression when they could not be passed on to consumers during price spikes.
Manufacturing Efficiency
The company operates an integrated value chain. Efficiency is being driven by operating leverage and cost optimization, with a target to reach sustainable long-term EBITDA margins of 14%.
Logistics & Distribution
The company is focusing on an omni-channel footprint, enhancing SKU depth across modern trade and e-commerce to drive higher contributions from premium products.
Strategic Growth
Expected Growth Rate
12%
Growth Strategy
Growth will be achieved through a 11-12% volume-driven revenue target for FY26, focusing on the South India market (targeting 20% of domestic revenue), expanding e-commerce and modern trade presence, and shifting the product mix toward high-margin premium design-led offerings.
Products & Services
Innerwear (vests, briefs), thermals, athleisure wear, and health-focused products like 'Dollar Protect' masks.
Brand Portfolio
Bigboss, Dollar Always, Dollar Man, Dollar Thermal, Dollar Protect.
New Products/Services
Launched 'Dollar Protect' under the umbrella brand. The premium segment, featuring design-led products, is a major focus, growing 25.1% in volume in Q2FY26.
Market Expansion
Targeting a 50% sales increase in South India to generate 20% of total domestic revenue. Also strengthening omni-channel and e-commerce footprints.
External Factors
Industry Trends
The industry is seeing a shift toward premium, design-led products and increased consumer preference for elevated offerings. E-commerce and modern trade are becoming significant growth drivers.
Competitive Landscape
Intense competition from established foreign brands, domestic readymade garment manufacturers, and players spending heavily on brand-building.
Competitive Moat
Moat is built on a multi-brand portfolio covering various price points, an integrated value chain, and a strong brand legacy spanning over three decades. Sustainability is reinforced by a promoter trust holding 50% stake for long-term stability.
Macro Economic Sensitivity
Highly sensitive to cotton and yarn price cycles. Operating margins fell to 7.26% in FY23 due to raw material spikes but recovered to 10.53% in FY25 as prices stabilized.
Consumer Behavior
Increasing preference for premium design-led products and non-male user categories, alongside a shift toward online and modern trade purchasing.
Regulatory & Governance
Industry Regulations
The company emphasizes compliance with all relevant laws and regulations and has measures to prevent and detect fraudulent activity.
Environmental Compliance
The company is adopting eco-friendly practices, including a zero-discharge technique with an evaporation system for sustainability.
Risk Analysis
Key Uncertainties
Raw material price volatility (cotton/yarn) and high attrition rates in human capital are identified as key business risks that could impact the bottom line.
Geographic Concentration Risk
96.1% of revenue is concentrated in the domestic Indian market, with a strategic focus on increasing penetration in South India.
Technology Obsolescence Risk
The company is mitigating digital risks by enhancing its omni-channel footprint and e-commerce capabilities.
Credit & Counterparty Risk
The company maintains discipline on working capital with a cash conversion cycle of 167 days and a net debt to equity ratio of 0.36.