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Delta Corp. Ltd. (India)
(DELTACORP)
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Rating:59Neutral
Price Target:
₹76.00
▲(27.86% Upside)
Action:Reiterated
Date:10/02/26
The score is driven primarily by mixed financial performance: a conservatively financed balance sheet offsets weakening revenue/profit trends and sustained negative free cash flow. Technicals add modest support with a strong uptrend, but overbought signals temper the outlook. Valuation is less supportive due to the negative P/E and a low dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and substantial equity provide financial flexibility, reducing balance-sheet strain while preserving capacity to fund operations or respond to changing market conditions. This conservative financing profile can help the company withstand weaker trading periods without relying heavily on additional borrowing.
Negative Factors
Persistent revenue contraction
Repeated annual revenue declines indicate that operating momentum has weakened across several reporting periods rather than reflecting a single isolated fluctuation. Continued contraction could reduce scale benefits, limit reinvestment capacity, and make it harder to restore prior levels of profitability over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and substantial equity provide financial flexibility, reducing balance-sheet strain while preserving capacity to fund operations or respond to changing market conditions. This conservative financing profile can help the company withstand weaker trading periods without relying heavily on additional borrowing.
Read all positive factors
Delta Corp. Ltd. (India) (DELTACORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.62B
Dividend Yield0.68%
Average Volume (3M)349.95K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue Growth-10.14%
EPS Growth-160.99%
CountryIN
Employees2,099
SectorGeneral
Sector StrengthN/A
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-5.85
Shares Outstanding267,771,100
10 Day Avg. Volume908,875
30 Day Avg. Volume349,952
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)0.64
Price to Sales (P/S)2.11
P/FCF Ratio-12.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Delta Corp. Ltd. (India) Business Overview & Revenue Model
Company Description
Delta Corp. Ltd. (India) engages in the business of gaming and entertainment. The firm owns and manages casinos in India. It operates through the following segments: Casino Gaming and Hospitality. The company was founded in 1990 and is headquarter...
How the Company Makes Money
Delta Corp makes money mainly from (1) casino gaming and hospitality-linked spend at its casino properties and (2) online skill gaming under the Adda52 platform. In its casino business, revenue is generated from customer gaming spend on casino gam...
Delta Corp. Ltd. (India) Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
84
Very Positive
Cash Flow
37
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.73B | 6.88B | 7.30B | 9.25B | 9.64B | 6.16B |
| Gross Profit | 3.70B | 2.97B | 6.65B | 5.43B | 5.06B | 2.66B |
| EBITDA | 1.47B | 1.67B | 4.62B | 4.00B | 3.97B | 1.60B |
| Net Income | -1.57B | 852.90M | 2.49B | 2.44B | 2.61B | 669.90M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 25.74B | 29.62B | 28.66B | 25.47B | 22.93B |
| Cash, Cash Equivalents and Short-Term Investments | 2.78B | 2.78B | 4.68B | 6.63B | 6.75B | 7.00B |
| Total Debt | 0.00 | 489.80M | 345.30M | 515.10M | 675.10M | 453.30M |
| Total Liabilities | -22.52B | 3.22B | 2.98B | 3.48B | 3.26B | 2.70B |
| Stockholders Equity | 22.52B | 22.52B | 26.65B | 25.18B | 22.19B | 20.22B |
Cash Flow | ||||||
| Free Cash Flow | 366.80M | -1.18B | -1.64B | -405.90M | 345.50M | 512.00M |
| Operating Cash Flow | 1.45B | 1.35B | 493.60M | 1.70B | 1.54B | 1.27B |
| Investing Cash Flow | -1.10B | -954.00M | 10.10M | -1.11B | -730.00M | -363.20M |
| Financing Cash Flow | -450.20M | -541.60M | -606.80M | -540.00M | -520.80M | -444.30M |
Delta Corp. Ltd. (India) Technical Analysis
Positive
59.44
Price Trends
61.73
Positive
64.05
Positive
64.24
Positive
Market Momentum
4.65
Negative
62.30
Neutral
74.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DELTACORP, the sentiment is Positive. The current price of 59.44 is below the 20-day moving average (MA) of 62.87, below the 50-day MA of 61.73, and below the 200-day MA of 64.24, indicating a bullish trend. The MACD of 4.65 indicates Negative momentum. The RSI at 62.30 is Neutral, neither overbought nor oversold. The STOCH value of 74.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:DELTACORP.
Delta Corp. Ltd. (India) Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹18.09B | 20.62 | ― | 1.18% | -7.65% | -6.94% | |
66 Neutral | ₹330.69B | 38.16 | ― | 0.63% | 127.05% | 119.59% | |
59 Neutral | ₹15.46B | 49.91 | ― | ― | 9.34% | -35.80% | |
59 Neutral | ₹19.62B | -12.59 | ― | 0.68% | -10.14% | -160.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹39.44B | 73.80 | ― | 1.38% | 6.85% | -59.12% | |
23 Underperform | ₹14.19B | 32.78 | ― | ― | -14.50% | -239.75% |
* General Sector Average
IN:DELTACORP
Delta Corp. Ltd. (India)
73.27
-8.02
-9.87%
IN:EIHAHOTELS
EIH Associated Hotels Limited
296.80
-88.15
-22.90%
IN:MHRIL
Mahindra Holidays & Resorts India Limited
195.20
-157.30
-44.62%
IN:SPICEJET
SpiceJet Limited
9.30
-20.74
-69.04%
IN:YATRA
Yatra Online Limited
98.55
-46.95
-32.27%
IN:ITCHOTELS
ITC Hotels Ltd
158.75
-58.23
-26.84%
Delta Corp. Ltd. (India) Corporate Events
Delta Corp faces ₹116 crore GST demand after Supreme Court ruling on casino valuation
Sep 26, 2026
Delta Corp Ltd. and its Goa-based casino subsidiaries have received orders from the Additional Commissioner, Central GST, Goa Commissionerate, raising substantial differential GST demands for the period July 2017 to March 2022. The orders follow a...
Delta Corp Publishes AGM, Book Closure and E-Voting Notice
Aug 19, 2026
Delta Corp Limited has announced that it has published newspaper advertisements in Financial Express and Loksatta detailing its upcoming Annual General Meeting scheduled for 10 September 2026. The notices also inform shareholders about the book cl...
Delta Corp Moves AGM Online and Urges Shareholders to Update Email Details
Aug 18, 2026
Delta Corp Limited has notified the exchanges that, in compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, it has sent letters to shareholders who have not registered their email addresses, providing a web link to access the compa...
Delta Corp Says No Undisclosed Events Behind Surge in Trading Volumes
Jul 2, 2026
Delta Corp Ltd., a gaming and entertainment company listed on the National Stock Exchange of India under the symbol DELTACORP, operates casinos and leisure businesses and is subject to SEBI’s listing and disclosure regulations. As a public c...
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.