As of 6 Nov 2026, Dhaval Packaging trades at 18.6× trailing earnings, above the industry P/E of 18.1×, and the shares are 22% below their 52-week high. Its ROCE of 29% is the second-highest among the 7 largest Packaging & Containers peers, and sales and net profit grew 15% and 151% a year over 3 years. Debt is 0.78× equity. It is listed on an SME platform with a market cap of ₹150 Cr, ranked 38th of 83 Packaging & Containers companies by market cap; the shares fell 2.4% over the past year.
- ₹109.10
- ₹109.10
- ₹109.05
- ₹109.05
- 2.4K
Health check
- ReturnsBehind
−2.4% over a year, better than 2 of 7 peers.
- Price tagIn line
P/E 18.6 vs industry 18.1.
- GrowthStrong
Sales +14.8%, profit +150.9% a year over 3 years.
- ProfitabilityStrong
ROCE 29.2% vs peer median 16.7%.
- Balance sheetFair
Debt 0.78× equity, interest covered 7.4×, Piotroski 4 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹150 Cr
- Small cap
- P/E
- 18.6
- Industry 18.1
- Price to book
- 3.54
- Peers 2.06
- Dividend yield
- 0.00%
- ROE
- 31.6%
- Peers 14.4%
- ROCE
- 29.2%
- Peers 16.7%
- Debt to equity
- 0.78
- Debt ₹24 Cr
- EPS (TTM)
- ₹5.85
- OPM (TTM)
- 26.0%
- Net margin 12.4%
- Sales growth
- n/a
- Year-ago quarter not reported
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 2.30
- EV/EBITDA 9.2
Strengths and risks
Strengths
- Return on equity of 31.6%.
- Return on capital employed of 29.2%.
- Positive operating cash flow in each of the last 4 years.
About Dhaval Packaging
Dhaval Packaging Limited designs, manufactures and sells In-Mold Labelling (IML) plastic containers and SAW pipe protection plastic caps in India. The company offers products, such as hexagon lock type containers, rectangle containers, khajur boxes, lunch boxes, square containers, sweet boxes, round containers, lassi glasses, and saw pipe protection plastic caps. It also offers end caps, such as Recessed caps, Large-size caps, PE plugs, and Customized…
- Headquarters
- Ahmedabad
- Employees
- 64
- Sector
- Consumer Cyclical
- ISIN
- INE1HX301016
- Website
- dhavalpackaging.com
Price range
- Avg volume (3M)
- 50.4K
- 1-year return
- minus 2.4%
- From 52-week high
- minus 21.5%
Peers · Packaging & Containers
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIMETECHNOTime Technoplast | 170.65 | minus 1.98% | 8,424 | 15.9 | 2.06 | 15.3% | 13.4% | 10.3% | 12.5% | 28.9% | 0.86% | minus 17.5% |
| EPLEPL | 221.31 | minus 3.61% | 7,101 | 18.1 | 2.26 | 16.7% | 14.9% | 19.8% | 8.5% | 19.7% | 2.26% | plus 13.4% |
| AGIAGI Greenpac | 645.55 | minus 3.31% | 4,177 | 11.8 | 1.65 | 18.2% | 14.9% | 22.0% | 5.5% | 10.4% | 1.08% | minus 18.3% |
| UFLEXUFLEX | 575.30 | minus 2.13% | 4,154 | 6.1 | 0.51 | 7.5% | 4.1% | 14.0% | 1.4% | −12.9% | 0.52% | plus 9.1% |
| TCPLPACKTCPL Packaging | 4,431.10 | minus 2.80% | 4,024 | 34.9 | 5.61 | 18.3% | 14.4% | 12.8% | 7.3% | −4.2% | 0.55% | plus 37.9% |
| JINDALPOLYJindal Poly Films | 697.50 | minus 0.11% | 3,054 | – | 1.00 | −18.2% | −29.9% | −36.5% | −15.6% | – | 0.00% | plus 25.0% |
| KNACKKnack Packaging | 199.71 | plus 1.42% | 2,444 | 21.6 | 3.34 | 38.3% | 35.5% | 17.8% | 16.6% | 67.1% | 0.00% | plus 9.1% |
| DHAVALDhaval Packaging | 109.05 | 0.00% | 150 | 18.6 | 3.54 | 29.2% | 31.6% | 26.0% | 14.8% | 150.9% | 0.00% | minus 2.4% |
| Median of 7 peers | – | −2.13% | 4,154 | 17.0 | 2.06 | 16.7% | 14.4% | 14.0% | 7.3% | 15.0% | 0.55% | 9.1% |
Quarterly results
| ₹ Cr | Mar 26 |
|---|---|
| 13.4 | |
| 9.7 | |
| 3.7 | |
| 27.7% | |
| −0.1 | |
| 0.4 | |
| 0.4 | |
| 2.9 | |
| 23.5% | |
| 2.2 |
Profit & loss
- Sales CAGR 3Y
- +14.8%
- Profit CAGR 3Y
- +150.9%
- ROE
- 31.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 42.9 | 48 | 52.3 | 65 | |
| – | +11.8% | +8.9% | +24.4% | |
| 40.3 | 43 | 42 | 50.9 | |
| 2.6 | 5 | 10.2 | 14.1 | |
| 6.1% | 10.4% | 19.6% | 21.7% | |
| 0.1 | 0 | −0.1 | −0.2 | |
| 0.6 | 0.9 | 1.2 | 1.7 | |
| 1.5 | 2.1 | 0.9 | 1.5 | |
| −0 | −0 | 0 | – | |
| 0.6 | 2 | 8 | 10.7 | |
| 15.9% | 23.5% | 24.7% | 25.0% | |
| 0.5 | 1.6 | 6 | 8 | |
| – | +204.8% | +289.5% | +33.0% |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2 | 2 | 2.4 | 10 | |
| 0.6 | 2.1 | 17.7 | 20.8 | |
| 14 | 19.3 | 16.6 | 24.1 | |
| 12.7 | 10.3 | 11.2 | 11.5 | |
| 29.3 | 33.7 | 47.9 | 66.4 | |
| 13.9 | 15.9 | 25.4 | 38 | |
| – | 1.2 | 3.2 | 9.5 | |
| 1.1 | 1.9 | 1.7 | 2.9 | |
| 14.3 | 14.7 | 17.6 | 16 | |
| 29.3 | 33.7 | 47.9 | 66.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.9 | 0.7 | 4.3 | 6.7 | |
| −6.9 | −4 | −10.3 | −14.1 | |
| 5 | 4.3 | 5.9 | 8.4 | |
| −0 | 0.9 | −0.1 | 1.1 | |
| −7 | −4.1 | −10.8 | −14.2 | |
| −5.1 | −3.4 | −6.4 | −7.4 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 3.8% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.