On 6 Nov 2026, Thakkers Developers was priced at ₹134.00, or 8.8× trailing earnings, against an industry P/E of 22.1×, and the shares are 16% below their 52-week high. Sales and net profit fell 8.6% and 32% a year over 3 years; its ROCE of 3.9% is the lowest among the 7 largest Real Estate (Development) peers. It carries very little debt. It is a small-cap company with a market cap of ₹121 Cr, ranked 68th of 112 Real Estate (Development) companies by market cap; the shares fell 13% over the past year.
- ₹134.00
- ₹134.00
- ₹134.00
- ₹134.51
- 1
Health check
- ReturnsIn line
−13.4% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 8.8 vs industry 22.1.
- GrowthShrinking
Sales −8.6%, profit −31.8% a year over 3 years.
- ProfitabilityWeak
ROCE 3.9% vs peer median 10.4%.
- Balance sheetFair
Debt 0.09× equity, interest covered 10.7×, Piotroski 4 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹121 Cr
- Small cap
- P/E
- 8.8
- Industry 22.1
- Price to book
- 0.72
- Peers 2.88
- Dividend yield
- 0.00%
- ROE
- 8.6%
- Peers 11.1%
- ROCE
- 3.9%
- Peers 10.4%
- Debt to equity
- 0.09
- Debt ₹16 Cr
- EPS (TTM)
- ₹15.18
- Face value ₹10
- OPM (TTM)
- 27.2%
- Net margin 31.1%
- Sales growth
- +104.6%
- Latest quarter vs a year ago
- Profit growth
- +595.7%
- Latest quarter vs a year ago
- Price to sales
- 2.74
- EV/EBITDA 9.8
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 595.7% on a year ago.
- Quarterly sales up 104.6% on a year ago.
- Net margin of 31.1%.
- P/E of 8.8 against an industry P/E of 22.1.
About Thakkers Developers
Thakkers Developers Limited, together with its subsidiaries, operates as a real estate and construction company in India. It operates through Construction and Contract Related Activity, and Estate Dealing and Development Activity segments. The company is involved in various activities, such as plots/land development, commercial construction, residential, and agricultural. Thakkers Developers Limited was founded in 1962 and is based in Nashik, India.
- Headquarters
- Nashik
- Employees
- 106
- Sector
- Real Estate
- ISIN
- INE403F01017
- Website
- thakkersdevelopers.com
Price range
- Avg volume (3M)
- 216
- 1-year return
- minus 13.4%
- From 52-week high
- minus 16.3%
Peers · Real Estate - Development
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLFDLF | 752.90 | plus 1.03% | 1,86,366 | 40.8 | 127.6 | 6.3% | 15.3% | 0.01 | 11.3% | minus 3.8% |
| LODHALodha Developers | 1,179.00 | plus 0.27% | 1,17,812 | 27.1 | 25.2 | 18.2% | 33.1% | 0.41 | 20.4% | minus 3.9% |
| OBEROIRLTYOberoi Realty | 1,739.00 | minus 0.13% | 63,230 | 24.0 | 18.8 | 16.7% | 57.5% | 0.14 | 12.9% | minus 2.2% |
| GODREJPROPGodrej Properties | 1,809.30 | minus 0.31% | 54,501 | 40.4 | – | 11.1% | −6.5% | 1.02 | 32.4% | minus 20.9% |
| BRIGADEBrigade Enterprises | 558.15 | minus 0.89% | 18,205 | 25.1 | 15.6 | 9.8% | 29.2% | 0.83 | 18.5% | minus 26.2% |
| ANANTRAJAnant Raj | 445.45 | minus 4.41% | 16,031 | 26.5 | 24.1 | 10.4% | 27.8% | 0.13 | 37.9% | minus 27.8% |
| SOBHASobha | 1,275.40 | minus 1.28% | 13,642 | 71.4 | 46.7 | 7.4% | 6.5% | 0.33 | 16.3% | minus 20.2% |
| THAKDEVThakkers Developers | 134.00 | minus 0.38% | 121 | 8.8 | 27.9 | 3.9% | 27.2% | 0.09 | −8.6% | minus 13.4% |
| Median of 7 peers | – | −0.31% | 54,501 | 27.1 | 24.7 | 10.4% | 27.8% | 0.33 | 18.5% | −20.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 9 | 6.5 | 14.4 | 4.8 | 18.4 | |
| 7.7 | 7.8 | 9.5 | 5.9 | 8.8 | |
| 1.2 | −1.3 | 4.9 | −1.1 | 9.6 | |
| 13.9% | −20.4% | 33.8% | −23.7% | 52.2% | |
| 0.8 | 2.6 | 0.8 | 1.7 | 0.9 | |
| 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | |
| 0.4 | 0.5 | 0.5 | 0.5 | 0.4 | |
| −0 | – | −0 | – | – | |
| 1.4 | 0.7 | 5 | −0 | 10.1 | |
| 0.1% | −1.0% | −1.4% | −4647.7% | 0.0% | |
| 1.4 | 0.7 | 5 | −2.1 | 10 | |
| 1.61 | 0.73 | 5.61 | -2.33 | 11.17 |
Profit & loss
- Sales CAGR 3Y
- −8.6%
- Profit CAGR 3Y
- −31.8%
- EPS CAGR 3Y
- −31.8%
- ROE
- 8.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 46 | 30.8 | 31.6 | 35.1 | |
| – | minus 33.0% | +2.5% | +11.2% | |
| 25.4 | 29.9 | 25.5 | 30.6 | |
| 20.6 | 0.9 | 6.1 | 4.5 | |
| 44.7% | 3.0% | 19.3% | 12.9% | |
| 1.1 | 1 | 5.2 | 5.2 | |
| 0.3 | 1.4 | 1.7 | 0.7 | |
| 1.7 | 2.3 | 1.8 | 1.9 | |
| – | – | −0 | – | |
| 19.7 | −1.8 | 7.7 | 7.1 | |
| 18.0% | 46.2% | 16.4% | 27.9% | |
| 16.1 | −0.9 | 6.5 | 5.1 | |
| – | minus 105.9% | – | minus 21.1% | |
| 17.94 | -1.05 | 7.20 | 5.68 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9 | 9 | 9 | 9 | |
| 136 | 135 | 142 | 147 | |
| 22.3 | 31.3 | 19.6 | 17.1 | |
| 60.4 | 58.7 | 47.5 | 39.1 | |
| 228 | 234 | 218 | 212 | |
| 7.1 | 6.8 | 6.8 | 5.8 | |
| 0 | 0 | 0 | 0 | |
| 2.8 | 2.8 | 2.8 | 2.8 | |
| 9.7 | 30.4 | 3.4 | 11 | |
| 208 | 194 | 205 | 193 | |
| 228 | 234 | 218 | 212 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −9.5 | 15.4 | −14 | 2.5 | |
| 4.7 | −22.2 | 27.4 | 0.9 | |
| 5.9 | 7.3 | −13.7 | −2.8 | |
| 1 | 0.5 | −0.2 | 0.6 | |
| −3.1 | −2 | −1.8 | −0.9 | |
| −12.6 | 13.4 | −15.8 | 1.6 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.