Delphi World Money Limited (DELPHIFX) AI Stock Analysis

Delphi World Money Limited

(NSE:DELPHIFX)

Select Model

Rating:48Neutral

Price Target:INR 6.50▲(10.73% Upside)

Action:reiterated

Date:09/11/26

The score is held back primarily by weakening financial performance (contracting revenue, negative operating profitability, and higher leverage with low ROE) and bearish technicals (price below all key moving averages with negative MACD). The main support is an inexpensive P/E valuation and a notable rebound in 2026 operating and free cash flow, which improves near-term flexibility despite volatility.

Positive Factors

Cross-Border Payments PlatformThe company operates in foreign exchange and cross-border payments, with services spanning remittances and currency transactions. This gives it a defined financial-services platform and an operational network that can support recurring customer activity across international payment needs over time.

Negative Factors

Contracting RevenueRevenue has become volatile and is now contracting, indicating weaker business scale than at the 2024 peak. Continued top-line pressure would reduce operating leverage, constrain investment capacity, and make it harder for the company to rebuild sustainable profitability.

Delphi World Money Limited (DELPHIFX) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.42B
Dividend Yield: ―
Average Volume (3M): 13.88K
Price to Earnings (P/E): 4.7
Beta (1Y): 0.73
Revenue Growth: -22.18%
EPS Growth: 524.25%
Country: India
Employees: 154
Sector: General
Sector Strength: 55
Industry: Financial - Capital Markets

Delphi World Money Limited Business Overview & Revenue Model

Company Description

Headquartered in Mumbai, India, Delphi World Money Ltd. was established in 1985 and operates nationwide, specializing in financial services related to global transactions. The company's diverse portfolio includes foreign currency exchange, both outwa...

Delphi World Money Limited Financial Statement Overview

Summary

Core fundamentals are pressured: revenue is contracting and profitability has deteriorated to negative gross and operating profit, with only slightly positive net income (suggesting reliance on non-operating items). Balance-sheet risk has risen with a sharp leverage increase (debt-to-equity ~0.53) and low ROE (~0.9%). The main offset is a strong rebound in operating cash flow and free cash flow in 2026, though cash-flow consistency remains volatile.

Income Statement

32Negative

Balance Sheet

46Neutral

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	13.40B	12.50B	17.21B	28.70B	26.15B	15.05B
Gross Profit	76.91M	-1.25B	148.50M	206.29M	276.90M	175.30M
EBITDA	-490.54M	-1.45B	61.52M	257.97M	244.90M	186.54M
Net Income	26.98M	28.83M	19.55M	151.92M	150.42M	79.21M
Balance Sheet
Total Assets	6.46B	6.46B	3.09B	3.20B	3.06B	3.02B
Cash, Cash Equivalents and Short-Term Investments	1.74B	1.74B	1.05B	126.91M	334.12M	795.10M
Total Debt	1.74B	1.74B	276.25M	309.75M	6.22M	312.83M
Total Liabilities	5.17B	5.17B	859.35M	983.73M	996.64M	1.10B
Stockholders Equity	3.27B	3.27B	2.24B	2.22B	2.07B	1.92B
Cash Flow
Free Cash Flow	554.69M	1.19B	-57.55M	-349.22M	396.70M	287.52M
Operating Cash Flow	629.55M	1.26B	-43.68M	-338.37M	397.77M	287.57M
Investing Cash Flow	-343.58M	-593.79M	371.08M	-150.43M	-175.08M	-269.22M
Financing Cash Flow	41.67M	416.00M	-70.64M	281.57M	-326.08M	-53.46M

Delphi World Money Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price5.87

Price Trends

50DMA6.29Negative

100DMA7.00Negative

200DMA9.67Negative

Market Momentum

MACD-0.14Positive

RSI35.79Neutral

STOCH7.94Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DELPHIFX, the sentiment is Negative. The current price of 5.87 is below the 20-day moving average (MA) of 6.61, below the 50-day MA of 6.29, and below the 200-day MA of 9.67, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 35.79 is Neutral, neither overbought nor oversold. The STOCH value of 7.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DELPHIFX.

Delphi World Money Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DELPHIFX against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ANGELONE	79Outperform	INR 258.83B	22.26	―	2.28%	21.45%	46.53%
IN:SMCGLOBAL	74Outperform	INR 18.99B	16.36	―	1.32%	17.97%	18.76%
IN:GEOJITFSL	67Neutral	INR 18.05B	26.94	―	2.32%	2.10%	-43.37%
IN:BIRLAMONEY	63Neutral	INR 5.97B	10.81	―	―	20.02%	-2.98%
IN:EMKAY	57Neutral	INR 6.91B	13.70	―	0.60%	58.43%	107.34%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:DELPHIFX	48Neutral	INR 1.44B	4.71	―	―	-22.18%	524.25%

* General Sector Average

Performance Comparison

IN:DELPHIFX and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DELPHIFX	Delphi World Money Limited	5.87	-7.39	-55.74%
IN:ANGELONE	Angel One Limited	283.00	32.69	13.06%
IN:BIRLAMONEY	Aditya Birla Money Limited	105.60	-54.40	-34.00%
IN:EMKAY	Emkay Global Financial Services Limited	251.15	-57.03	-18.50%
IN:GEOJITFSL	Geojit Financial Services Ltd	64.66	-6.93	-9.68%
IN:SMCGLOBAL	SMC Global Securities Ltd. (India)	90.68	25.00	38.06%

Delphi World Money Limited Corporate Events

Delphi World Money Holds 41st AGM, Confirms Key Board Appointments

Sep 30, 2026

Delphi World Money Limited, formerly Ebixcash World Money India Limited, is a Mumbai-based foreign exchange and remittance services provider serving retail and corporate clients, and is listed on BSE and NSE under the symbol DELPHIFX. It operates thr...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 11, 2026

Delphi World Money Limited AI Stock Analysis