DENEERS
DEN Networks financials
- Market cap
- ₹149 Cr
- Sector
- Capital Goods
- Calls analysed
- 1
De Neers Tools Q4 FY25
What went well
- Revenue grew 32% YoY to ₹145 crores, demonstrating strong market demand and execution excellence.
- EBITDA nearly doubled, growing 89% YoY to ₹27.71 crores, reflecting significant operational leverage.
- PAT more than doubled, growing 104% YoY to ₹17.63 crores, indicating strong bottom-line performance.
What DEN Networks Limited does
De Neers Tools makes and sells hand tools under the De Neers brand — steel hand tools, insulated tools, stainless-steel anti-magnetic tools, non-sparking tools, and tool kits/tool-boxes/trolleys — produced under ISO 9001, 14001 and 45001 certified quality controls. Its FY25 Directors' Report describes the core business as wholesale trading and import-export of hardware tools, moved to end customers through a PAN-India dealer network, direct supply to automotive OEMs, and e-commerce platforms (Amazon, JioMart, Flipkart). It serves industries including automotive, textile, healthcare, cement, power and oil & gas, and has begun international distribution through a Dubai subsidiary with a local experience centre and warehouse.
Segments
- Traditional dealer network
- Industrial/OEM distribution
- Direct-to-consumer (D2C)
- International (Dubai)
- SKU portfolio
- ~9,500 SKUs (FY26)
- Dealer network
- 352 dealers (FY26)
- OEM / institutional customers
- 66 (FY26)
- Cities covered (PAN-India)
- 322 (FY26)
- Industries served
- 30+
- Hand tool units sold
- ~7.05 crore units (FY26)
Guidance record · Q4 FY25
what the last two calls moved 15 tracked 0 delivered 0 missed 15 open- Revenue and Profitability CAGR open said Q4 FY25 Promised: minimum 25% plus Q4 FY25: Target set for future periods
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 0.8%, net profit down 35.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 249 | 261 | 75 | 241 | 72 −71% | 251 −4% | 106 +41% | 243 +1% |
| EBITDA | 28 | 27 | 12 | 19 | 15 −46% | 13 −52% | 24 +100% | 12 −37% |
| Net profit | 52 | 42 | 7 | 54 | 9 −83% | 40 −5% | 16 +129% | 35 −35% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −38.6% 1Y
1Y: ₹273.5 on 10 Sept 2025 → ₹168. High ₹280 (12 Sept 2025), low ₹137.2 (2 Mar 2026).
Financials, as filed
Revenue fell 16.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 10.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.1k Cr | ₹1.1k Cr | ₹833 Cr | ₹670 Cr |
| Operating profit | ₹150 Cr | ₹151 Cr | ₹94 Cr | ₹71 Cr |
| Operating margin | 13.3% | 14.0% | 11.3% | 10.6% |
| Interest | ₹2 Cr | ₹4 Cr | ₹5 Cr | ₹6 Cr |
| Depreciation | ₹119 Cr | ₹113 Cr | ₹79 Cr | ₹47 Cr |
| Net profit | ₹236 Cr | ₹213 Cr | ₹144 Cr | ₹119 Cr |
| Net margin | 20.9% | 19.7% | 17.3% | 17.8% |
| Cash from operations | — | — | ₹17 Cr | ₹-11 Cr |
| Free cash flow | — | — | ₹16 Cr | ₹-12 Cr |
| ROCE | — | — | — | 26.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹477 Cr | ₹477 Cr | ₹477 Cr | ₹477 Cr | ₹19 Cr | ₹19 Cr |
| Reserves | ₹2.3k Cr | ₹2.5k Cr | ₹2.7k Cr | ₹2.9k Cr | ₹60 Cr | ₹77 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹28 Cr | ₹26 Cr | ₹64 Cr | ₹73 Cr |
| Other liabilities | ₹678 Cr | ₹554 Cr | ₹524 Cr | ₹481 Cr | ₹44 Cr | ₹38 Cr |
| Total liabilities | ₹3.5k Cr | ₹3.5k Cr | ₹3.8k Cr | ₹3.9k Cr | ₹187 Cr | ₹207 Cr |
| Fixed assets | ₹609 Cr | ₹557 Cr | ₹562 Cr | ₹515 Cr | ₹2 Cr | ₹2 Cr |
| Capital work in progress | ₹37 Cr | ₹21 Cr | ₹29 Cr | ₹18 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2.1k Cr | ₹1.9k Cr | ₹1.4k Cr | ₹1.7k Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹666 Cr | ₹1.0k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹184 Cr | ₹205 Cr |
| Total assets | ₹3.5k Cr | ₹3.5k Cr | ₹3.8k Cr | ₹3.9k Cr | ₹187 Cr | ₹207 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jul 2026
Since Mar 2025, promoters trimmed −19.58 pp while the public added +19.54 pp. The shareholder count grew 56% to 941.
- Promoters
- 42.8%
- DIIs
- 8.1%
- Public
- 49.1%
Since Mar 2025
- Promoters −19.58 pp
- Public +19.54 pp
- DIIs +0.80 pp
How it drifted, 8 quarters
Over this window promoters fell from 67.0% to 42.8% — −24.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 67.0%, DIIs 2.8%, Public 30.1%.Mar '24: Promoters 67.0%, DIIs 4.3%, Public 28.6%.Sep '24: Promoters 62.4%, DIIs 4.3%, Public 33.3%.Mar '25: Promoters 62.4%, FIIs 0.8%, DIIs 7.3%, Public 29.6%.Sep '25: Promoters 47.5%, DIIs 8.8%, Public 43.7%.Mar '26: Promoters 47.5%, DIIs 9.0%, Public 43.5%.May '26: Promoters 46.3%, DIIs 8.8%, Public 45.0%.Jul '26: Promoters 42.8%, DIIs 8.1%, Public 49.1%.
Who bought this quarter
since May 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Neeraj Kumar Aggarwal +3.32 pp 22.88% held
- Shilpy Aggarwal +2.19 pp 13.83% held
- Value Prolific Consulting Services Pvt Ltd newly disclosed 1.07% held
The same filing shows 8 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jul 2026 filing
Every holder of DEN Networks Limited above SEBI's 1% disclosure line, and what changed since May 2026.
| Holder | Stake | Change |
|---|---|---|
| Neeraj Kumar Aggarwal | 22.88% | +3.32 pp |
| Shilpy Aggarwal | 13.83% | +2.19 pp |
| India Equity Fund 1 AIF | 8.03% | −0.70 pp |
| Kanav Gupta | 7.75% | −0.67 pp |
| Ashika Global Finance Private Limited | 4.15% | −0.09 pp |
| Deepali Gupta | 4.08% | −0.36 pp |
| Sunil Kapoor Huf | 2.50% | −0.21 pp |
| Riya Aggarwal | 2.00% | −0.17 pp |
| Sangeeta Pareekh | 1.87% | −0.17 pp |
| Securocrop Securities India Private Limited | 1.46% | −0.13 pp |
| Value Prolific Consulting Services Pvt Ltd | 1.07% | newly disclosed |
| Manoj Gupta | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹168, this stock must grow earnings at -6% every year for 7 years. Our analysis caps realistic growth at ~83%. At that growth it is worth ₹11025 — upside of 6463%.
- Growth the price implies
- -6.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -20.4% a year
- net profit, FY23–FY26 · EPS 83.0%
- The gap
- -0.9 pp
- 6463% downside if it only repeats history
Learn to analyse DEN Networks Limited
Guides on how to read this kind of business and the numbers that matter.