5
Thakkers Developers
THAKDEV NSE
Thakkers Developers
RealtyNSE: THAKDEV BSE: 526654 Residential Commercial Projects
Key Fundamentals
MicrocapResidential Commercial ProjectsRealtyMarket Cap
₹122 Cr
Volatility
Moderate
P/E Ratio
9
EBITDA
₹3.66 Cr
Return on Equity
4.29%
Debt to Equity
0.11
Book Value
₹184.82
52W High
₹163.01
52W Low
₹115.1
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.69 times its book value
- Company is expected to give good quarter
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 4.67% over past five years.
- Company has a low return on equity of 2.39% over last 3 years.
- Earnings include an other income of Rs.6.14 Cr.
- Debtor days have increased from 22.5 to 37.0 days.
Growth Rate
Revenue Growth
-5.79% higher than
3Y
Net Income Growth
-17.08% higher than
3Y
Cash Flow Change
-191% lower than
3Y
ROE
-750% lower than
3Y
ROCE
—
EBITDA Margin (Avg.)
-70.67% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10 | 9 | 5 | 6 | 4 | 14 | 7 | 6 | 9 | 6 | 14 | 5 | 18 |
| Expenses | 9 | 8 | 5 | 8 | 4 | 12 | 7 | 2 | 8 | 8 | 10 | 6 | 9 |
| Operating Profit | 1 | 1 | 0 | -2 | 0 | 3 | 0 | 4 | 1 | -1 | 5 | -1 | 10 |
| OPM % | 11% | 7% | 10% | -26% | -6% | 19% | -1.4% | 61% | 14% | -20% | 34% | -23% | 52% |
| Other Income | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 3 | 1 | 2 | 1 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| PBT | 0 | 0 | 0 | -2 | 0 | 3 | 0 | 5 | 1 | 1 | 5 | 0 | 10 |
| Tax % | 0% | 0% | -1050% | 1% | 0% | 0% | 50% | 23% | 0% | -2% | -1% | 5125% | 0% |
| Net Profit | 0 | 0 | 1 | -2 | 0 | 3 | 0 | 4 | 1 | 1 | 5 | -2 | 10 |
| EPS in Rs | 0.54 | 0.06 | 0.86 | -2.51 | -0.37 | 3.2 | 0.14 | 4.24 | 1.6 | 0.73 | 5.61 | -2.33 | 11.17 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 51 | 32 | 42 | 28 | 18 | 21 | 28 | 55 | 58 | 31 | 32 | 35 | 44 |
| Expenses | 24 | 21 | 18 | 25 | 15 | 16 | 17 | 21 | 37 | 30 | 26 | 31 | 32 |
| Operating Profit | 27 | 11 | 24 | 3 | 4 | 5 | 10 | 34 | 20 | 1 | 6 | 4 | 12 |
| OPM % | 54% | 35% | 57% | 10% | 20% | 22% | 38% | 62% | 35% | 2% | 19% | 11% | 27% |
| Other Income | 0 | 0 | 0 | 4 | 1 | 7 | 4 | 2 | 1 | 1 | 5 | 6 | 6 |
| Interest | 11 | 7 | 5 | 3 | 2 | 2 | 1 | 0 | 0 | 1 | 2 | 1 | 1 |
| Depreciation | 2 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| PBT | 15 | 4 | 18 | 2 | 1 | 8 | 13 | 35 | 20 | -2 | 8 | 7 | 16 |
| Tax % | 37% | 36% | 25% | 84% | -49% | 11% | 15% | 4% | 18% | -46% | 16% | 28% | — |
| Net Profit | 9 | 2 | 14 | 0 | 1 | 7 | 11 | 34 | 16 | -1 | 6 | 5 | 14 |
| EPS in Rs | 10.39 | 2.5 | 15.18 | 0.39 | 1.24 | 8.23 | 12.7 | 37.72 | 17.94 | -1.06 | 7.2 | 5.68 | 15.18 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 50 | 53 | 66 | 67 | 68 | 75 | 86 | 120 | 136 | 135 | 142 | 147 |
| Borrowings | 55 | 45 | 30 | 31 | 32 | 27 | 3 | 15 | 22 | 31 | 20 | 17 |
| Other Liabilities | 112 | 121 | 111 | 92 | 79 | 68 | 78 | 76 | 60 | 59 | 47 | 39 |
| Total Liabilities | 226 | 228 | 217 | 198 | 188 | 180 | 176 | 220 | 228 | 234 | 218 | 213 |
| Fixed Assets | 5 | 4 | 14 | 18 | 17 | 14 | 13 | 14 | 15 | 14 | 15 | 15 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4 | 4 | 11 | 5 | 6 | 7 | 4 | 16 | 9 | 30 | 4 | 7 |
| Other Assets | 217 | 220 | 191 | 175 | 165 | 158 | 160 | 191 | 204 | 190 | 198 | 191 |
| Total Assets | 226 | 228 | 217 | 198 | 188 | 180 | 176 | 220 | 228 | 234 | 218 | 213 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 39 | 21 | 27 | -3 | 6 | 1 | 20 | -3 | -10 | 15 | -14 | 3 |
| Investing | -1 | 0 | -5 | 1 | -1 | 0 | 5 | -12 | 5 | -22 | 27 | 1 |
| Financing | -37 | -17 | -21 | 1 | 0 | -6 | -23 | 12 | 6 | 7 | -14 | -3 |
| Net Cash Flow | 1 | 5 | 1 | -1 | 5 | -5 | 2 | -2 | 1 | 1 | 0 | 1 |
| Free Cash Flow | 38 | 21 | 24 | -6 | 5 | 1 | 21 | -6 | -13 | 13 | -16 | 2 |
| CFO/OP | 158 | 214 | 124 | -51 | 153 | 47 | 218 | 4 | -30 | 2,356 | -209 | 133 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 45 | 40 | 28 | 108 | 28 | 7 | 57 | 29 | 56 | 21 | 9 | 37 |
| Inventory Days | — | — | — | — | — | — | — | — | 4,139 | 5,332 | — | 1,695 |
| Days Payable | — | — | — | — | — | — | — | — | 43 | 53 | — | 2 |
| Cash Conversion Cycle | 45 | 40 | 28 | 108 | 28 | 7 | 57 | 29 | 4,152 | 5,300 | 9 | 1,730 |
| Working Capital Days | 193 | 718 | 694 | 1,070 | 1,599 | 1,459 | 1,226 | 603 | 658 | 1,177 | 1,096 | 1,283 |
| ROCE % | — | 9% | 22% | 5% | 3% | 9% | 13% | 29% | 13% | 0% | 5% | 5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Thakkers Developers insights
58 extracted metrics + investor summaries across FY10–FY26.
Documents
1
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
27 Apr - Thakkers Developers says it is not a Large Corporate; outstanding borrowings were Rs 15.13 crore as of March 31, 2026. 27 Apr - Thakkers Developers says it is not a Large Corporate; outstanding borrowings were Rs 15.13 crore as of March 31, 2026.
2
Compliances-Reg.24(A)-Annual Secretarial Compliance
27 Apr - Annual Secretarial Compliance Report for FY2026 filed; no material non-compliances reported. 27 Apr - Annual Secretarial Compliance Report for FY2026 filed; no material non-compliances reported.
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
11h - Thakkers Developers says it is not a Large Corporate; outstanding borrowings were Rs 15.13 crore as of March 31, 2026. 11h - Thakkers Developers says it is not a Large Corporate; outstanding borrowings were Rs 15.13 crore as of March 31, 2026.
4
Compliances-Reg.24(A)-Annual Secretarial Compliance
11h - Annual Secretarial Compliance Report for FY2026 filed; no material non-compliances reported. 11h - Annual Secretarial Compliance Report for FY2026 filed; no material non-compliances reported.
5
Clarification On Price Movement
23 Apr - Thakkers Developers clarifies recent share price movement is market-driven, with no specific company-related reason. 23 Apr - Thakkers Developers clarifies recent share price movement is market-driven, with no specific company-related reason.
Frequently Asked Questions about Thakkers Developers
What does Thakkers Developers Ltd do?
Incorporated in 1987, Thakkers Developers Ltd is in the business of Real Estate & Construction activities[1]
Where is Thakkers Developers Ltd (526654) listed?
Thakkers Developers Ltd trades as THAKDEV on the NSE and under code 526654 on the BSE.
Which sector does Thakkers Developers Ltd belong to?
Thakkers Developers Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the market capitalisation of Thakkers Developers Ltd?
Thakkers Developers Ltd has a market capitalisation of ₹121.5 Cr, which places it in the Small Cap band.
What is the PE ratio of Thakkers Developers Ltd?
Thakkers Developers Ltd trades at a PE ratio of 9.00, against a book value of ₹184.82 per share.
What is the 52-week high and low of Thakkers Developers Ltd?
Over the last 52 weeks Thakkers Developers Ltd has traded between ₹115.1 and ₹163.01.
What is the Return on Equity (ROE) of Thakkers Developers Ltd?
Thakkers Developers Ltd reported a return on equity of 4.29%. Its debt-to-equity ratio is 0.11.
Company Information
Incorporated in 1987, Thakkers Developers Ltd is in the business of Real Estate & Construction activities[1]
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