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Dhunseri Ventures Limited (DVL)

₹288.40 -0.45% last close, 16 Oct

📊 NSE: DVL 🏢 Packaging 📢 Latest filing: 29 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Dhunseri Ventures' revenue was ₹232 Cr (+45.0% year on year, +226.8% on the previous quarter), and net profit ₹174 Cr (+145.1% year on year); the operating margin was 39.2%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹232	+45.0%	+226.8%
Operating profit	₹91.0	+11.0%	from loss
Net profit	₹174	+145.1%	+625.0%
EPS (₹)	49.80	+144.6%	+615.5%
Operating margin	39.2%	—	—

Full quarterly financials → Results calendar →

DVL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 66.79% of the DVL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 66.63%. That is close to its usual level. Turnover was only ₹15 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.

66.79%Delivery, 16 Oct

66.63%Own 20-session average

0.5×Volume vs its average

₹288.40NSE close · -0.45%

Delivery in the last 5 sessions: 59.2% · 65.0% · 67.6% · 75.7% · 66.8%

Delivery across the market →

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

Infomerics Reaffirms Dhunseri Ventures' Short-Term Rating at IVR A1+ for ₹30 Cr Facility

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Sep 2026, 07:01 PM

Infomerics Valuation and Rating Ltd has reaffirmed Dhunseri Ventures Limited's short-term bank facility credit rating at 'IVR A1+'. The rating covers a ₹30.00 crore short-term bank loan facility (Demand Loan with Barclays Investments & Loans (India) Pvt Ltd). The rated quantum of ₹30.00 crore is modest relative to the company's net worth of ₹1,859 crore and roughly matches total debt of ₹32 crore. The rating is valid for one year until September 28, 2027.

Credit rating reaffirmed at 'IVR A1+' for short-term bank facilities
Total bank loan facilities rated stand at ₹30.00 crore
Facility pertains to a Demand Loan from Barclays Investments & Loans (India) Pvt Ltd
Rating validity extends for one year up to September 28, 2027

💡 Track the commissioning progress of the ongoing BOPP flexible packaging lines, which form the primary growth driver away from trading and treasury operations.

Dhunseri Ventures Approves Re-Appointment of MD Aruna Dhanuka and Independent Director for 5 Years

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 20 Aug 2026, 12:11 PM

Dhunseri Ventures Limited has received shareholder approval at its 110th Annual General Meeting held on 18th August, 2026, for the re-appointment of key board members via special resolutions. Mrs. Aruna Dhanuka has been re-appointed as Managing Director for a 5-year term from 1st February, 2027 to 31st January, 2032. Additionally, Mr. Sameer Sah has been re-appointed as an Independent Director for a second 5-year term from 18th August, 2026 until the conclusion of the 115th AGM.

Shareholders approved re-appointments at the 110th AGM held on 18th August, 2026
Mrs. Aruna Dhanuka re-appointed as Managing Director for a 5-year tenure from 1st February, 2027 to 31st January, 2032
Mr. Sameer Sah re-appointed as Independent Director for a second 5-year tenure through the 115th AGM

💡 Track operational updates on the upcoming BOPP production line commissioning and overall revenue performance in upcoming quarterly earnings.

DVL Shareholders Approve All 6 Resolutions at 110th AGM, Including PET Resins RPT

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Aug 2026, 12:06 PM

Dhunseri Ventures Limited (DVL) announced the scrutinizer's report and voting results for its 110th Annual General Meeting held on August 18, 2026. All six ordinary and special resolutions were approved by shareholders, including adoption of FY26 financials and declaration of equity dividend (100% votes in favor). Shareholders also approved the reappointment of Managing Director Mrs. Aruna Dhanuka with 99.82% favorable votes and a material related-party transaction with IVL Dhunseri Petrochem Industries Private Limited with 82.59% votes in favor.

Adoption of FY26 financial statements and dividend declaration approved with 100% votes in favor (2,73,59,249 votes)
Re-appointment of Mrs. Aruna Dhanuka as Managing Director approved via special resolution with 99.82% favorable votes
Material related-party transaction for trading of PET resins with IVL Dhunseri Petrochem Industries passed with 82.59% votes in favor (17.40% against)
Re-appointment of Independent Director Mr. Sameer Sah approved with 99.20% votes in favor

💡 Track the commercialization timeline of the flexible packaging BOPP production lines and subsequent quarterly performance from trading and packaging operations.

Dhunseri Ventures Conducts 110th AGM; Tables ₹1.50/Share Dividend and Key Resolutions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 03:38 PM

Dhunseri Ventures Limited completed its 110th Annual General Meeting on August 18, 2026. The meeting tabled ordinary and special resolutions including the declaration of a ₹1.50 per share dividend for FY26 and the re-appointment of Mrs. Aruna Dhanuka as Managing Director. Additionally, shareholders considered the approval of material related-party transactions for trading PET resins with IVL Dhunseri Petrochem Industries. Final voting results are scheduled to be announced on or before August 20, 2026.

110th AGM held on August 18, 2026, from 11:30 AM to 12:51 PM via Video Conferencing.
Tabled declaration of dividend at ₹1.50 per equity share for the financial year ended March 31, 2026.
Put forth special resolution for the re-appointment of Mrs. Aruna Dhanuka as Managing Director.
Sought shareholder approval for material related-party trading of PET Resins with IVL Dhunseri Petrochem Industries Private Limited.
Scrutinizer voting results to be declared on or before August 20, 2026.

💡 Track the filing of formal scrutinizer voting results by August 20, 2026, and monitor subsequent operational execution updates regarding the flexible packaging BOPP line expansion.

DVL Q1 EPS Surges to ₹49.76; Packaging Revenue Grows 72% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Aug 2026, 02:32 PM

Dhunseri Ventures (DVL) reported a strong start to FY27, with consolidated revenue from continuing operations rising 44.8% YoY to ₹231.59 Cr. The bottom line was significantly bolstered by a ₹120.59 Cr share of profit from associates, a 350% increase from the ₹26.81 Cr reported in Q1 FY26. The company's strategic pivot into Flexible Packaging is gaining scale, with segment revenue reaching ₹137.91 Cr, though segment margins remain thin at approximately 3%. Treasury operations continue to provide a stable base, contributing ₹93.68 Cr to segment results.

Consolidated revenue from continuing operations increased to ₹231.59 Cr from ₹159.88 Cr YoY.
Consolidated Basic EPS for continuing operations jumped to ₹49.76 from ₹20.93 in the previous year's quarter.
Flexible Packaging segment revenue grew 72.1% YoY to ₹137.91 Cr, now representing 59.5% of total segment revenue.
Share of profit from equity-accounted investees (associates) rose sharply to ₹120.59 Cr from ₹26.81 Cr YoY.
Treasury operations segment assets remain substantial at ₹900.46 Cr, supporting the company's liquidity position.

💡 Investors should monitor the margin profile of the Flexible Packaging segment as it scales, and track the performance of associate companies which currently contribute the bulk of consolidated net profit.

110th AGM Scheduled for Aug 18, 2026; Annual Report FY26 Released

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Jul 2026, 05:41 PM

Dhunseri Ventures Limited (DVL) has scheduled its 110th Annual General Meeting (AGM) for August 18, 2026, to be conducted via video conferencing. The company has released its Annual Report for FY 2025-26 and provided digital access links for shareholders, particularly those whose email addresses are not registered. The filing also includes communication regarding Tax Deducted at Source (TDS) on the dividend for FY 2025-26. This is a standard procedural update following the conclusion of the financial year.

110th Annual General Meeting scheduled for August 18, 2026, at 11:30 a.m. IST
Annual Report for FY 2025-26 and AGM Notice (dated May 26, 2026) made available online
Communication issued regarding TDS on dividend for the financial year 2025-26
Company maintains a substantial treasury asset base of ₹952.08 Cr as per latest financial context
BOPP production Line 1 expansion targeted for April-June 2026 period

💡 Investors should review the Annual Report for detailed management commentary on the progress of the new BOPP production lines and the performance of the treasury operations.

₹350 Cr Related Party Transaction Proposed in Dhunseri Ventures 110th AGM Notice

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 27 Jul 2026, 10:57 AM

Dhunseri Ventures Limited (DVL) has issued a notice for its 110th Annual General Meeting (AGM) scheduled for August 18, 2026. A key resolution involves a material related party transaction (RPT) with IVL Dhunseri Petrochem for PET Resin trading worth up to ₹350 crore annually, which is approximately 122% of the company's TTM revenue. The company is also seeking shareholder approval to re-appoint Mrs. Aruna Dhanuka as Managing Director for a five-year term starting February 2027. Standalone financial data for FY26 shows a profit of ₹5.50 crore on a total income of ₹385.77 crore, reflecting thin margins in its current trading and treasury-heavy operations.

Proposed Related Party Transaction (RPT) with IVL Dhunseri Petrochem capped at ₹350 Cr per annum for PET Resin trading.
Trading volume for the RPT is limited to a maximum of 45,000 tonnes of PET Resins per year.
Re-appointment of Mrs. Aruna Dhanuka as Managing Director for a 5-year term from February 1, 2027, to January 31, 2032.
Standalone FY26 profit reported at ₹5.50 Cr, significantly lower than the consolidated TTM PAT of ₹72 Cr.
Managing Director's last drawn remuneration was ₹3.21 Cr, a substantial figure relative to standalone FY26 profits.

💡 Investors should monitor the voting results of the AGM, particularly regarding the high-value RPT and management remuneration. The primary growth trigger remains the execution of the new BOPP production lines, with Line 1 tentatively starting in Q1 FY27.

Dhunseri Ventures Announces Trading Window Closure from July 1, 2026 for Q1 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Jun 2026, 12:22 PM

Dhunseri Ventures Limited (DVL) has announced that its trading window will be closed starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the company's unaudited financial results for the first quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure begins on July 1, 2026, for all designated persons.
Closure pertains to the unaudited financial results for the quarter ending June 30, 2026.
The window will reopen 48 hours after the official declaration of financial results.
The board meeting date for result consideration is yet to be announced.

💡 This is a routine regulatory announcement and does not require any immediate action. Investors should wait for the announcement of the board meeting date to assess the upcoming quarterly performance.

Dhunseri Ventures Announces ₹1.50 Dividend and TDS Guidelines for FY 2025-26

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 18 Jun 2026, 02:49 PM

Dhunseri Ventures Limited (DVL) has recommended a final dividend of ₹1.50 per equity share for the financial year ended March 31, 2026. The dividend is subject to shareholder approval at the Annual General Meeting scheduled for August 18, 2026. The company has established August 11, 2026, as the record date to determine eligibility for the payout. The announcement primarily focuses on the Tax Deduction at Source (TDS) requirements, outlining various tax rates based on residency and PAN status.

Recommended final dividend of ₹1.50 per equity share of face value ₹10 for FY 2025-26.
Record date for dividend eligibility is fixed as August 11, 2026, with the AGM on August 18, 2026.
TDS of 10% will be deducted for resident shareholders with valid PAN if the dividend exceeds ₹10,000.
A higher TDS rate of 20% applies if PAN is not provided, is invalid, or is not linked with Aadhaar.
Non-resident shareholders may opt for Tax Treaty (DTAA) rates by submitting documentation by August 11, 2026.

💡 Shareholders should ensure their PAN and Aadhaar are linked and KYC details are updated with their Depository Participant or RTA by August 11, 2026, to avoid tax deduction at higher rates.

Dhunseri Ventures Announces ₹1.50 Dividend and TDS Guidelines for FY 2025-26

🟡 NEUTRAL ⭐ 6/10

DIVIDEND 📅 18 Jun 2026, 02:46 PM

Dhunseri Ventures Limited (DVL) has recommended a final dividend of ₹1.50 per equity share (15% of face value) for the financial year 2025-26. The dividend is subject to shareholder approval at the Annual General Meeting scheduled for August 18, 2026. The company has established August 11, 2026, as the record date for determining eligibility. This communication specifically outlines the Tax Deduction at Source (TDS) requirements, noting that dividends are now taxable in the hands of shareholders with standard withholding rates of 10% for residents with PAN and 20% for those without.

Recommended a final dividend of ₹1.50 per equity share of ₹10 face value for FY 2025-26.
Record date for dividend eligibility is fixed as August 11, 2026, with the AGM on August 18, 2026.
Standard TDS rate of 10% applies to resident individuals if the total dividend exceeds ₹10,000 and PAN is provided.
A higher TDS rate of 20% will be applied if a valid PAN is not provided or if PAN is not linked with Aadhaar.
Non-resident shareholders may be eligible for lower tax rates under Double Tax Avoidance Agreements (DTAA) subject to document submission.

💡 Shareholders should ensure their PAN and Aadhaar are linked and KYC details are updated with their Depository Participant or the RTA by August 11, 2026. Eligible investors should submit Form 15G/15H or DTAA documents via the company's portal to avoid higher tax withholding.

Dhunseri Ventures Guarantees ₹118 Cr and €32M Loan for Subsidiary's Expansion

🔵 WATCH ⭐ 7/10

EXPANSION 📅 16 Jun 2026, 03:04 PM

Dhunseri Ventures Limited (DVL) has executed a corporate guarantee in favor of EXIM Bank to secure credit facilities for its wholly-owned subsidiary, Dhunseri Poly Films Private Limited (DPFPL). The financing consists of a ₹118 crore rupee term loan and a €32 million loan. These funds will facilitate a brownfield expansion at Panagarh Industrial Park, West Bengal, including a 59,200 TPA BOPET line and a 10,200 TPA Metallizer unit. While this increases the parent company's contingent liabilities, it directly supports significant capacity growth in its subsidiary.

Corporate guarantee issued for ₹118 crore and €32 million loans from EXIM Bank
Financing supports a new 59,200 TPA BOPET line and 10,200 TPA Metallizer unit
Expansion project located at Panagarh Industrial Park, West Bengal
Guarantee is for Dhunseri Poly Films Private Limited, a 100% owned subsidiary

💡 Investors should track the progress of the brownfield expansion and the subsidiary's operational performance, as the guarantee adds a significant contingent liability to DVL's balance sheet.

Dhunseri Ventures Sets Aug 11, 2026 as Record Date for ₹1.50 Dividend

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 26 May 2026, 03:17 PM

Dhunseri Ventures Limited has fixed August 11, 2026, as the record date to determine shareholder eligibility for a dividend of ₹1.50 per share. This dividend represents a 15% payout on the face value of ₹10 per equity share for the fiscal year 2025-26. The company's 110th Annual General Meeting is scheduled for August 18, 2026, where the dividend will be finalized. The share transfer books will remain closed from August 12 to August 18, 2026.

Dividend declared at ₹1.50 per equity share (15% of face value ₹10)
Record date for dividend eligibility is Tuesday, August 11, 2026
Book closure period from August 12, 2026, to August 18, 2026
110th Annual General Meeting to be held on August 18, 2026

💡 Investors seeking to receive the dividend must ensure they hold the shares in their demat account by the record date of August 11, 2026. Existing shareholders should monitor the AGM results for final confirmation of the payout.

Dhunseri Ventures Recommends Rs 1.50 Dividend and Re-appoints MD Aruna Dhanuka

🟡 NEUTRAL ⭐ 7/10

DIVIDEND 📅 26 May 2026, 02:58 PM

Dhunseri Ventures Limited has recommended a final dividend of Rs 1.50 per equity share for the financial year 2025-26, with a cut-off date of August 11, 2026. The Board also approved the audited financial results for the year ended March 31, 2026, which notably reported a standalone net loss. Key leadership remains stable with the re-appointment of Mrs. Aruna Dhanuka as Managing Director for another five-year term. Furthermore, the company has extended a corporate guarantee to support credit facilities for its wholly-owned subsidiary, Dhunseri Poly Films Private Limited.

Recommended final dividend of Rs 1.50 per equity share for FY 2025-26
Cut-off date for dividend eligibility is August 11, 2026, with payment starting August 21, 2026
Re-appointment of Mrs. Aruna Dhanuka as Managing Director for a second 5-year term
Approved corporate guarantee for credit facilities of subsidiary Dhunseri Poly Films Private Limited
Auditor's report indicates a net loss on a standalone basis for the year ended March 31, 2026

💡 Investors should track the upcoming AGM on August 18, 2026, and evaluate the consolidated financial performance to understand the impact of the standalone loss. The corporate guarantee for the subsidiary suggests ongoing capital support requirements that may affect future cash flows.

Dhunseri Ventures Recommends ₹1.50 Dividend and Reports Standalone Net Loss for FY26

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 26 May 2026, 02:58 PM

Dhunseri Ventures Limited has recommended a dividend of ₹1.50 per equity share for the financial year 2025-26, pending shareholder approval at the upcoming AGM on August 18, 2026. The company's audited standalone results for the year ended March 31, 2026, indicate a net loss and other comprehensive loss. The board also approved the re-appointment of Mrs. Aruna Dhanuka as Managing Director for a five-year term and authorized a corporate guarantee for its subsidiary, Dhunseri Poly Films Private Limited. This combination of a dividend payout despite a standalone loss suggests a focus on shareholder returns while supporting subsidiary expansion.

Recommended a dividend of ₹1.50 per equity share for the financial year 2025-26.
Reported a standalone net loss and other comprehensive loss for the fiscal year ended March 31, 2026.
Re-appointed Mrs. Aruna Dhanuka as Managing Director for a second 5-year term effective February 1, 2027.
Approved a corporate guarantee for credit facilities to be availed by wholly-owned subsidiary Dhunseri Poly Films Private Limited.
Scheduled the 110th Annual General Meeting (AGM) for August 18, 2026, with a dividend cut-off date of August 11, 2026.

💡 Investors should review the consolidated financial statements to understand if the standalone loss is offset by subsidiary performance. Monitor the financial health of Dhunseri Poly Films as the parent company is now providing corporate guarantees for its debt.

Dhunseri Ventures Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Mar 2026, 04:00 PM

Dhunseri Ventures Limited (DVL) has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of the audited financial results for the year ending March 31, 2026. The window will remain closed until 48 hours after the financial results are officially submitted to the stock exchanges. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure effective from April 1, 2026, for FY26 audited results.
Applies to all designated persons and their immediate relatives per SEBI guidelines.
Window to reopen 48 hours after the official declaration of financial results.
Board meeting date for result approval to be announced in due course.

💡 No action is required as this is a routine regulatory filing. Investors should monitor for the upcoming board meeting date to review the company's annual financial performance.

View All DVL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Standalone revenue from operations (Trading and Treasury) fell 20.57% YoY to INR 176.14 Cr for the half-year ended September 30, 2025, compared to INR 221.75 Cr in the previous year. Treasury operations assets stood at INR 952.08 Cr, while Flexible Packaging Films assets were INR 1,151.92 Cr.

Geographic Revenue Split

The company operates in India and has business interests in Singapore. Specific percentage contributions from each region are not disclosed in available documents.

Profitability Margins

Standalone Net Profit Margin for FY 2024-25 was 0.21%, a 56.25% decline from 0.48% in FY 2023-24. Standalone Operating Profit Margin was 0.27%, down 55.82% from 0.61% YoY. Return on Net Worth dropped 65.87% to 3.22% due to reduced operating surplus and higher tax rates.

EBITDA Margin

Operating profit margin (Standalone) fell 55.82% YoY to 0.27% in FY 2024-25. Consolidated net profit after taxes for the half-year ended September 30, 2025, was INR 57.54 Cr, a 58.13% decline from INR 137.45 Cr YoY.

Capital Expenditure

Flexible Packaging Films segment assets reached INR 1,151.92 Cr as of September 30, 2025. The company is investing in two BOPP production lines, with the first line tentatively starting in Q1 FY 2026-27.

Credit Rating & Borrowing

Consolidated non-current borrowings were INR 452.97 Cr and current borrowings were INR 80.55 Cr as of September 30, 2025. Interest coverage ratio fell 37.02% to 20.46 due to reduced EBIT and increased expenses.

⚙️ Operational Drivers

Capacity Expansion

The company is expanding into Flexible Packaging with two BOPP production lines. Line 1 is targeted to start tentatively between April-June 2026, and Line 2 is expected to start in Q1 FY 2027.

Manufacturing Efficiency

Debtors turnover ratio improved 42.38% to 9.71 in FY 2024-25 due to higher sales and improved customer collections.

📈 Strategic Growth

Growth Strategy

DVL is diversifying into the flexible packaging industry by setting up two BOPP production lines. The company also seeks to tap opportunities in startup and infrastructure development supported by Government of India initiatives.

Products & Services

BOPP (Biaxially Oriented Polypropylene) films, Treasury/Investment services, and Trading activities.

Brand Portfolio

Dhunseri

New Products/Services

BOPP production lines are the primary new product launch, with operations starting in 2026.

Market Expansion

The company is looking to tap startup and infrastructure development opportunities in India and monitors global practices to raise performance bars.

Strategic Alliances

The company has significant investments in associates (Equity Accounted Investees), which contributed INR 60.37 Cr to consolidated profit in the half-year ended September 30, 2025.

🌍 External Factors

Industry Trends

The industry is seeing growth in flexible packaging films, which DVL is positioning for with its INR 1,151.92 Cr asset base in that segment.

Competitive Moat

DVL leverages the 'Dhunseri' brand and a large treasury asset base (INR 952.08 Cr) to maintain financial stability and fund new ventures like flexible packaging.

Macro Economic Sensitivity

Performance is sensitive to India's economic growth and financial market volatility. Return on Net Worth fell 65.87% partly due to reduced operating surplus and macro-economic factors.

Geopolitical Risks

Geopolitical situations previously caused a disruption of project activities for the BOPP production lines.

⚖️ Regulatory & Governance

Industry Regulations

DVL complies with the Corporate Governance Code enshrined in SEBI Listing Regulations 17 to 27 and Schedule V. It also adheres to the Companies Act, 2013, regarding financial reporting and audit standards.

Taxation Policy Impact

The company noted that higher tax rates contributed to a 65.87% reduction in Return on Net Worth for FY 2024-25. Total tax expense for the half-year ended September 30, 2025, was INR 61.64 Cr.

⚠️ Risk Analysis

Key Uncertainties

Volatility in financial markets and economic slowdowns are primary risks. The company's Return on Net Worth fell 65.87% YoY, highlighting sensitivity to operating surplus and expense management.

Technology Obsolescence Risk

The company is adopting global practices and quality leadership to raise performance bars, but specific digital transformation status is not detailed.