Dharan Infra-EPCNSE:DHARAN +6.67%50 Piotroski F-Score is 3 as of Jul. 07, 2026, which is 40% below its 10-year median of 5.00. GuruFocus rates NSE:DHARAN with a GF Score™ of 50/100 and a GF Value™ of ₹0.03 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,755 Real Estate companies, Dharan Infra-EPC ranks worse than 81.54% on this metric.
Warning Sign:
Piotroski F-Score of 3 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Dharan Infra-EPC has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Dharan Infra-EPC's Piotroski F-Score or its related term are showing as below:
NSE:DHARAN'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 3
During the past 13 years, the highest Piotroski F-Score of Dharan Infra-EPC was 7. The lowest was 2. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Dharan Infra-EPC Piotroski F-Score Related Terms
Dharan Infra-EPC Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Dharan Infra-EPC's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Real Estate - Development subindustry, Dharan Infra-EPC's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Dharan Infra-EPC Piotroski F-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Dharan Infra-EPC's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Dharan Infra-EPC's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Dharan Infra-EPC's current Net Income (TTM) was -383.38.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Dharan Infra-EPC's return on assets of this year was -0.03508778. Dharan Infra-EPC's return on assets of last year was -0.03241303.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Dharan Infra-EPC's gearing of this year was 0.03859323. Dharan Infra-EPC's gearing of last year was 0.02994928.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Dharan Infra-EPC's current ratio of this year was 16.51184407. Dharan Infra-EPC's current ratio of last year was 12.94290213.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Dharan Infra-EPC's number of shares in issue this year was 5228.758. Dharan Infra-EPC's number of shares in issue last year was 2194.032.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Dharan Infra-EPC's gross margin of this year was 0.3650319. Dharan Infra-EPC's gross margin of last year was 0.42893673.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Dharan Infra-EPC's asset turnover of this year was 0.01646726. Dharan Infra-EPC's asset turnover of last year was 0.01992763.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Dharan Infra-EPC has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
Dharan Infra-EPC (NSE:DHARAN) has a Piotroski F-Score of 3 as of Jul. 07, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Dharan Infra-EPC and its competitors. This is 40% below median its historical median of 5.00. Over the past decade, Dharan Infra-EPC's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Dharan Infra-EPC ranks #1431 out of 1755 companies in the Real Estate industry, placing it in the top 81.5%.
Is Dharan Infra-EPC's Piotroski F-Score too high?
Dharan Infra-EPC's current Piotroski F-Score of 3 is 40% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Real Estate industry median Piotroski F-Score is 5.00. Dharan Infra-EPC's value of 3 is 40% below this industry median. Based on the distribution chart, Dharan Infra-EPC ranks #1431 out of 1755 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Dharan Infra-EPC has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dharan Infra-EPC's Piotroski F-Score compare to competitors?
According to the Real Estate industry distribution chart, Dharan Infra-EPC ranks #1431 out of 1755 companies for Piotroski F-Score. This places Dharan Infra-EPC in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Dharan Infra-EPC's value of 3 is 40% below this benchmark. Historically, Dharan Infra-EPC's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Dharan Infra-EPC has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Real Estate company?
The median Piotroski F-Score among Real Estate companies is 5.00, based on 1,755 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Dharan Infra-EPC's current Piotroski F-Score of 3 is 40% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Dharan Infra-EPC and its competitors. For the Real Estate industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dharan Infra-EPC's current Piotroski F-Score is 3, which is 40% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dharan Infra-EPC stock overvalued right now?
Based on GuruFocus' analysis, Dharan Infra-EPC (NSE:DHARAN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹0.03, compared to a current price of ₹0.16 — trading 433.3% above its estimated fair value. The current Piotroski F-Score is 3, which is 40% below median its 10-year median of 5.00 and 40% below the Real Estate industry median of 5.00. Dharan Infra-EPC's overall GF Score™ is 50/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Dharan Infra-EPC (NSE:DHARAN), the current Piotroski F-Score is 3 as of Jul. 07, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Dharan Infra-EPC (NSE:DHARAN) Overvalued in 2026?
Based on GuruFocus' analysis, Dharan Infra-EPC stock appears to be overvalued.
The current stock price of ₹0.16 is trading 433.3% above its estimated GF Value™ of ₹0.03.
GuruFocus considers Dharan Infra-EPC to be Significantly Overvalued.
Key valuation signals for NSE:DHARAN:
Piotroski F-Score: 3 (40% below median its 10-year median of 5.00)
GF Value™: ₹0.03 vs. price of ₹0.16 (433.3% above fair value)
Industry Position: 40% below the Real Estate median (#1431 of 1755)
No single metric tells the full story. See the NSE:DHARAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dharan Infra-EPC Ltd is a real estate development company engaged in the development of residential real estate projects and execution of construction contracts. The Company's projects include Hari Kunj Mayflower, Hari Krishna Phase IV, and Hari Aakruti Phase II. Its operating business segments comprise the Development of Real Estate Property segment, the Civil Contracting Business segment, and the Investment segment, with the majority of revenue derived from the Real Estate segment. The Company operates within India.
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