Diggi Multitrade Limited

Real Estate — Real Estate Services · BSE

₹10.07−₹1.11 (−9.93%)

DalalBaazaar Score

38 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, negative free cash flow, the company is currently loss-making.

In simple words: The company is currently losing money, but sales are shrinking. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:51 pm

Understanding the Business

Company site ↗

The 60-second version of Diggi Multitrade Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Diggi Multitrade Limited engages in the trading of real estate properties and building materials in India. It serves residential, commercial, retail, industrial, logistics and other real estate sectors.

IndustryReal Estate Services

SectorReal Estate

Employees4

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-114 reaches shareholders as profit, with ₹-104 left at the operating level before interest, tax and depreciation. Each of its 4 employees supports ₹2.9 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹2.9 lakh

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -1.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE10.3%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved +186% while net margin moved -46% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+186%

Margin effect-46%

DalalBaazaar Score

38/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Return on equity is negative

Quality vs. Valuation

Company Quality

37/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

36/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Margins are improving
EBITDA margin is up from -161.0% to -104.3% over 3 years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

4 items require attention · 4 high

🔴High leverageFinancial
Debt/Equity of 7.89x — earnings must service borrowings before shareholders see anything.
🔴Thin interest coverageFinancial
Operating profit covers interest only -1474.7x — little room if earnings dip.
🔴Free cash flow negative for 3 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -161.0% to -104.3%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.

🔴 Bear CaseWhat could go wrong?

Leverage amplifies any setback
Debt/Equity of 7.89x. Interest is payable whether or not the business has a good year.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
4 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 31% a year✓ 41.9% CAGR
Latest reported year was -94.4%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above -106%✓ -104.3%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
4Interest cover stays above 3x✗ -1474.7x
How much operating profit can fall before interest stops being comfortably covered.
5ROCE stays above 8%✗ -1.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

3 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 2 neutral · 8 weak

Market Cap

₹10 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

0.97x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹-1,307.4

Loss-making

Negative earnings per share — the business is losing money

ROE

-1.3%

Weak

Weak capital efficiency

ROCE

-1.2%

Weak

Low return on total capital employed

Debt/Equity

7.89x

High

High leverage

Revenue Growth (YoY)

-94.4%

Shrinking

Sales are contracting

Profit Growth (YoY)

-10.2%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

ROA

-0.7%

Weak

Assets generate little profit

Operating Margin

2034.2%

Good

Healthy core-business profitability

Net Margin

-114.3%

Weak

Very little revenue reaches the bottom line

Current Ratio

9.56

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.32

Defensive

Steadier than the market

52W Range Position

21%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

11.7 / 12.7

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

43.5

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	—	₹2 Cr	₹0 Cr	+41.9%
EBITDA	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—
EBITDA Margin	-161.0%	—	-3.3%	-104.3%	—
PAT (Net Profit)	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—
EPS	₹-0.09	₹-0.28	₹-1,186.51	—	—
ROE	-0.8%	-2.7%	-1.2%	-1.3%	—
ROCE	-0.8%	-2.9%	-0.8%	-1.2%	—
Total Debt	—	—	₹1 Cr	₹1 Cr	—
Free Cash Flow	₹0 Cr	-₹0 Cr	-₹1 Cr	-₹0 Cr	—

🟢 Revenue has grown at 41.9% a year over 3 years.

🟢 EBITDA Margin has risen from -161.0% to -104.3% over 3 years (+56.7 pts).

🟡 ROE has held roughly flat at -1.3% over 3 years.

🟡 ROCE has held roughly flat at -1.2% over 3 years.

🔴 Free Cash Flow has turned negative, from ₹0 Cr to -₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹12 Cr

Total Liabilities

₹2 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

1.3%

Insider Holding

64.2%

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

6 general

DIGGI MULTITRADE Stock/Share price , NSE/BSE Forecast News and Live Quotes

Equitymaster, 15 Oct

Diggi Multitrade Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 31 Aug

Diggi Multitrade passes all AGM resolutions with full shareholder support

scanx.trade, 03 Oct

Compare with

Equitymaster, 16 Oct

Diggi Multitrade Ltd. Peer Comparison – Compare with Others

Value Research, 30 Aug

Diggi Multitrade schedules 16th AGM for September 30, 2026

scanx.trade, 02 Sept

Watch Items

Revenue growth is negative (-94.4%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongGrowth

MiddlingValuation

WeakBusiness Quality · Financial Health · Profitability · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 4 high-severity red flags sit above this conclusion and should be read first.

3 of 5 tripwires tripped — Free cash flow remains positive; Interest cover stays above 3x; ROCE stays above 8% · see Key things to watch ↑