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Swing Capital

Delta Corp Ltd

NSE: DELTACORP BSE: 532848

Delta Corp is currently operates in the Gaming, Hospitality and online skill gaming segment.(Source : 202003-01 Annual Report Page No:113)

₹67.3
52W: ₹48.3 — ₹98.9
PE 14.8 · Book ₹82.6 · -19% vs book
Market Cap₹1,802 Cr
Stock P/E14.8Price to Earnings
ROCE6.5%Return on Capital
ROE5.1%Return on Equity
Div. Yield1.86%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Stock is trading at 0.82 times its book value

Weaknesses

  • −Promoter holding is low: 34.5%
  • −Company has a low return on equity of 6.59% over last 3 years.
  • −Contingent liabilities of Rs.11,790 Cr.
  • −Earnings include an other income of Rs.50.7 Cr.
  • −Dividend payout has been low at 14.2% of profits over last 3 years
  • −Working capital days have increased from 145 days to 289 days

Shareholding Pattern

Promoters34.46%
FIIs1.61%
DIIs0.24%
Public63.68%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters33.26%33.26%33.26%33.66%▲0.433.66%33.66%34.46%▲0.834.46%
FIIs1.45%1.25%▼0.21.02%▼0.21.48%▲0.52.69%▲1.22.14%▼0.51.64%▼0.51.61%▼0.0
DIIs8.8%8.61%▼0.28.36%▼0.37.75%▼0.66.27%▼1.52.62%▼3.60.24%▼2.40.24%
Public56.49%56.87%▲0.457.35%▲0.557.11%▼0.257.38%▲0.361.56%▲4.263.66%▲2.163.68%▲0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales147142143146150136131131118120
Expenses91939193959697948790
Operating Profit56495252554034373130
OPM %38%34%36%36%36%29%26%28%26%25%
Net Profit41874044425926221951
EPS ₹1.543.241.511.641.552.220.970.840.721.89

AI Insights

Revenue Trend

Mar 2026 revenue at ₹500Cr, down 13% YoY. OPM at 26%.

Debt Position

Borrowings at ₹18Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹87Cr (13% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.24% (-17.80pp change). FIIs: 1.61% (-5.07pp change). Promoters hold 34.46%.

Margin & Efficiency

ROCE improving from 6% (Mar 2015) to 6% (Mar 2026). Working capital days: 289.

Valuation

PE 14.8x with 6.5% ROCE. Price is -19% above book value of ₹82.6. Dividend yield: 1.86%.

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