On 6 Nov 2026, DELPHI WORLD MONEY was priced at ₹5.29, or 22.0× trailing earnings, against an industry P/E of 18.4×, and the shares are 71% below their 52-week high. Its ROCE of 12% is the lowest among the 7 largest Capital Markets peers, and sales and net profit fell 19% and 34% a year over 3 years. Debt is 1.35× equity. It is a small-cap company with a market cap of ₹130 Cr, ranked 73rd of 219 Capital Markets companies by market cap; the shares fell 60% over the past year.
- ₹5.42
- ₹5.45
- ₹5.21
- ₹5.42
- 56.7K
Health check
- ReturnsBehind
−60.2% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 22.0 vs industry 18.4.
- GrowthShrinking
Sales −18.8%, profit −33.9% a year over 3 years.
- ProfitabilityWeak
ROCE 12.1% vs peer median 22.1%.
- Balance sheetFair
Debt 1.35× equity, interest covered 1.8×, Piotroski 6 of 9.
- Red flags5 to check
Return on equity is low at 1.6%.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹130 Cr
- Small cap
- P/E
- 22.0
- Industry 18.4
- Price to book
- 0.40
- Peers 4.53
- Dividend yield
- 0.00%
- ROE
- 1.6%
- Peers 18.9%
- ROCE
- 12.1%
- Peers 22.1%
- Debt to equity
- 1.35
- Debt ₹174 Cr
- EPS (TTM)
- ₹0.24
- Face value ₹2
- OPM (TTM)
- 0.3%
- Net margin 0.3%
- Sales growth
- −9.7%
- Latest quarter vs a year ago
- Profit growth
- −172.2%
- Latest quarter vs a year ago
- Price to sales
- 0.09
- EV/EBITDA 1.4
Strengths and risks
Risks to check
- Return on equity is low at 1.6%.
- Quarterly profit down 172.2% on a year ago.
- Quarterly sales down 9.7% on a year ago.
- 71% below its 52-week high.
- Interest coverage of only 0.4×.
About DELPHI WORLD MONEY
Delphi World Money Limited operates as a foreign exchange services company in India. The company is involved in buying and selling forex; prepaid forex card and forex for students; and provision of money transfer/remittances, miscellaneous remittances, and cash to master services. It also provides travel insurance services, as well as financial solutions. The company serves corporate and retail sectors. The company was formerly known as Ebixcash World…
- Headquarters
- Mumbai
- Employees
- 154
- Sector
- Financial Services
- ISIN
- INE726L01027
- Website
- indiaforexonline.com
Price range
- Avg volume (3M)
- 1.4 L
- 1-year return
- minus 60.2%
- From 52-week high
- minus 71.0%
Peers · Capital Markets
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWWBillionbrains Garage Ventures | 215.08 | minus 3.93% | 1,33,585 | 50.3 | 13.78 | 29.3% | 21.6% | 62.9% | – | – | 0.00% | plus 63.8% |
| MOTILALOFSMotilal Oswal Financial Services | 1,102.00 | plus 0.64% | 66,448 | 25.0 | 4.27 | 18.1% | 18.9% | 52.4% | 29.0% | 26.1% | 0.54% | plus 11.1% |
| AIILAuthum Investment & Infrastructure | 570.05 | plus 0.08% | 48,410 | 27.6 | 3.29 | 15.2% | 13.1% | 74.0% | 44.4% | −23.5% | 0.00% | minus 0.7% |
| ANGELONEAngel One | 331.00 | plus 1.49% | 30,290 | 26.8 | 4.53 | 26.9% | 18.4% | 39.7% | 20.3% | 0.9% | 1.95% | plus 29.5% |
| CDSLCentral Depository Services (India) | 1,331.40 | minus 0.19% | 27,826 | 55.1 | 14.03 | 29.7% | 26.4% | 51.3% | 27.3% | 18.2% | 0.96% | minus 13.3% |
| CHOICEINChoice International | 748.20 | minus 0.09% | 16,668 | 62.9 | 8.90 | 17.6% | 15.8% | 35.3% | 42.2% | 53.6% | 0.00% | minus 7.4% |
| IIFLCAPSIIFL Capital Services | 349.80 | plus 0.13% | 13,036 | 18.8 | 3.15 | 22.1% | 19.5% | 36.1% | 19.9% | 30.9% | 0.86% | plus 4.1% |
| DELPHIFXDELPHI WORLD MONEY | 5.29 | minus 2.40% | 130 | 22.0 | 0.40 | 12.1% | 1.6% | 0.3% | −18.8% | −33.9% | 0.00% | minus 60.2% |
| Median of 7 peers | – | 0.08% | 30,290 | 27.6 | 4.53 | 22.1% | 18.9% | 51.3% | 28.2% | 22.2% | 0.54% | 4.1% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 |
|---|---|---|---|---|---|
| 308 | 343 | 420 | 358 | 278 | |
| 303 | 341 | 417 | 355 | 282 | |
| 4.9 | 2.3 | 2.7 | 2.7 | −3.1 | |
| 1.6% | 0.7% | 0.6% | 0.7% | −1.1% | |
| 2.7 | 4.6 | 0.8 | 8.1 | 10.6 | |
| 0.7 | 0.6 | 0.6 | 7.8 | 4.1 | |
| 0.3 | 0.2 | 0.8 | 1.8 | 1.1 | |
| – | – | – | −0.9 | – | |
| 6.7 | 6.1 | 2.2 | 0.4 | 2.3 | |
| 57.2% | 26.0% | 107.7% | 4.6% | 179.7% | |
| 2.9 | 4.5 | −0.2 | 0.2 | −2.1 | |
| 2.58 | 0.25 | -0.01 | 0.00 | -0.08 |
Profit & loss
- Sales CAGR 3Y
- −18.8%
- Profit CAGR 3Y
- −33.9%
- ROE
- 1.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,615 | 2,870 | 1,721 | 1,398 | |
| – | +9.7% | minus 40.0% | minus 18.8% | |
| 2,603 | 2,859 | 1,716 | 1,392 | |
| 12.2 | 10.8 | 5.7 | 5.3 | |
| 0.5% | 0.4% | 0.3% | 0.4% | |
| 12.7 | 16.1 | 18.6 | 23.1 | |
| 2.1 | 2.2 | 3 | 13 | |
| 0.9 | 0.9 | 1.2 | 3.9 | |
| −0.4 | −1.2 | −18.1 | −0.5 | |
| 21.5 | 22.7 | 2 | 11 | |
| 29.9% | 33.0% | 1.0% | 73.8% | |
| 15 | 15.2 | 2 | 4.3 | |
| – | +1.0% | minus 87.1% | +122.1% | |
| 0.84 | 0.85 | 0.11 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.1 | 11.1 | 11.1 | 49.1 | |
| 196 | 211 | 212 | 277 | |
| 0.6 | 31 | 27.6 | 174 | |
| 99 | 67.4 | 58.3 | 146 | |
| 306 | 320 | 309 | 646 | |
| 3.4 | 2.5 | 3.6 | 24.3 | |
| 0 | 0 | 0 | 1.9 | |
| 33.4 | 12.7 | 38.4 | 73.2 | |
| 270 | 305 | 268 | 547 | |
| 306 | 320 | 309 | 646 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.8 | −31.6 | 27 | 63 | |
| −17.5 | −17.3 | 6.8 | −34.4 | |
| −32.6 | 28.2 | −8.1 | 4.2 | |
| −10.3 | −20.7 | 25.7 | 32.8 | |
| −0.1 | −1.1 | −1.4 | −7.5 | |
| 39.7 | −32.7 | 25.6 | 55.5 |
Shareholding pattern
- Promoters61.32%
- Public38.68%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 61.32% | 38.68% | 0.00 | |
| 30 Jun 2026 | 61.32% | 38.68% | 0.00 | |
| 31 Mar 2026 | 61.32% | 38.68% | 0.00 | |
| 16 Feb 2026 | 61.32% | 38.68% | 0.00 | |
| 31 Dec 2025 | 61.32% | 38.68% | – |
Major shareholders
Filings & events
News
No recent news coverage found.