MarketFriction

Ganon Products Ltd

BSE 512443 · Trading & Distributors
₹6.39 -4.77%
BSE close2026-10-01
Market cap₹6.38 Cr.
P/E11.8

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9.740.009.856.136.934.010.000.001.211.454.060.91
Expenses9.410.1510.286.437.264.240.070.081.171.222.590.85
Operating Profit0.33-0.15-0.43-0.30-0.33-0.23-0.07-0.080.040.231.470.06
OPM %3.39%-4.37%-4.89%-4.76%-5.74%3.31%15.86%36.21%6.59%
Other Income0.300.370.340.620.620.530.110.110.160.000.130.00
Interest0.080.120.250.300.270.280.040.010.010.001.340.00
Depreciation0.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax0.550.10-0.340.020.020.020.000.020.190.230.260.06
Tax %0.00%0.00%0.00%50.00%0.00%0.00%50.00%26.32%26.09%26.92%33.33%
Net Profit0.550.10-0.340.020.010.010.000.020.140.170.190.04
EPS in Rs0.590.11-0.360.020.010.010.000.020.150.180.200.04
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales35.591.8534.010.250.010.000.0012.7427.9017.076.727.63
Expenses35.521.7933.930.230.290.510.5713.5828.6117.985.055.83
Operating Profit0.070.060.080.02-0.28-0.51-0.57-0.84-0.71-0.911.671.80
OPM %0.20%3.24%0.24%8.00%-2,800.00%-6.59%-2.54%-5.33%24.85%23.59%
Other Income0.000.000.002.52-1.970.991.001.351.411.870.400.29
Interest0.000.000.000.000.020.400.400.490.530.901.361.35
Depreciation0.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax0.070.060.082.54-2.270.080.030.020.170.060.710.74
Tax %28.57%33.33%25.00%0.39%1.76%25.00%66.67%50.00%23.53%33.33%25.35%
Net Profit0.040.040.062.54-2.310.060.010.010.130.040.520.54
EPS in Rs0.040.040.062.72-2.480.060.010.010.140.040.560.57
Dividend Payout %0.00%0.00%31.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-15%%-19%-30%
Compounded Profit Growth29%54%273%1250%
Stock Price CAGR%-8%-25%-47%
Return on Equity3%1%2%5%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9.339.339.339.339.339.339.339.339.339.339.339.33
Reserves1.061.101.151.173.701.391.451.481.501.641.692.22
Borrowings0.000.000.000.000.000.000.000.000.000.000.000.00
Other Liabilities13.691.642.1134.782.495.185.496.8210.2721.7314.9627.02
Total Liabilities24.0812.0712.5945.2815.5215.9016.2717.6321.1032.7025.9838.57
Fixed Assets0.000.000.000.000.000.000.000.000.000.000.000.00
CWIP0.000.000.000.000.000.000.000.000.000.000.000.00
Investments9.159.1511.1411.141.991.991.991.991.991.990.000.00
Other Assets14.932.921.4534.1413.5313.9114.2815.6419.1130.7125.9838.57
Total Assets24.0812.0712.5945.2815.5215.9016.2717.6321.1032.7025.9838.57
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0.110.062.17-0.220.34-0.63-0.52-0.245.845.60-2.72-8.32
Cash from Investing Activity0.000.01-1.950.00-0.43-2.48-0.43-0.59-1.80-9.748.800.40
Cash from Financing Activity-0.04-0.060.00-0.020.004.25-0.090.74-3.924.21-6.257.97
Net Cash Flow0.070.010.22-0.24-0.101.13-1.04-0.090.120.07-0.170.06
Free Cash Flow0.110.062.17-0.220.34-0.63-0.52-0.245.845.60-0.73-8.32
CFO/OP71%157%3,650%-250%1,750%211%98%40%-696%-794%297%-487%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days9.840.000.00352.66394.204,745.005.447.9816.89271.03
Inventory Days3.9216.980.000.650.000.000.000.000.00
Days Payable32.8816.67374.62
Cash Conversion Cycle-19.110.310.00-21.32394.204,745.005.447.9816.89271.03
Working Capital Days-0.310.21-416.30-19.75-3,153.60-28,835.00-205.99-177.14-251.24-533.92
ROCE %2.32%0.67%0.57%0.76%21.59%2.27%4.47%3.98%4.71%6.42%8.73%18.34%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters25.25%25.25%25.25%25.25%25.25%25.25%25.25%25.25%25.25%18.36%12.20%0.00%
Public74.75%74.75%74.75%74.75%74.75%74.74%74.75%74.75%74.76%81.64%87.80%100.01%
No. of Shareholders7609612,4252,4254,2314,0833,9783,7183,4462,8673,1053,062

Fundamentals

Market Cap₹ 6.38 Cr.
Current Price₹ 6.84
Stock P/E11.8
Book Value₹ 12.4
ROCE18.3 %
ROE4.61 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-30%
Compounded Profit Growth (TTM)1250%
Standalone figures.
Valuation
Market capRs 6 Cr
Enterprise valueRs 6 Cr
P/E (TTM)11.04x
Price to book0.52x
Price to sales0.78x
EV / EBITDA2.80x
EV / EBIT2.80x
EV / sales0.77x
Earnings yield9.06%
P/E, 3-year average78.39x
P/B, 3-year average0.84x
P/E, 5-year average494.92x
P/B, 5-year average0.92x
Profitability
Operating margin (excl. other income)24.85%
Operating margin (incl. other income)30.80%
EBITDA margin27.52%
Pre-tax margin9.70%
Net profit margin7.08%
Net margin, latest quarter4.40%
ROE4.61%
ROCE18.34%
ROA1.61%
ROE, 3-year average2.05%
ROCE, 3-year average11.17%
ROA, 3-year average0.74%
ROE, 5-year average1.27%
ROCE, 5-year average8.44%
ROA, 5-year average0.47%
ROIC (approx.)13.68%
Tax rate25.35%
Other income / net worth3.46%
Growth
Sales growth (latest year)-60.63%
Profit growth (latest year)1200.00%
Sales CAGR, 3 years-19.20%
Profit CAGR, 3 years273.25%
Profit CAGR, 5 years54.02%
Sales growth QoQ-77.59%
Profit growth QoQ-78.95%
Profit growth YoY (latest quarter)100.00%
Per share
EPS (TTM)Rs 0.58
EPS (latest year)Rs 0.56
EPS (latest quarter)Rs 0.04
EPS, 3-year averageRs 0.25
EPS, 5-year averageRs 0.15
Book value per shareRs 12.38
Sales per shareRs 8.18
Cash flow per shareRs -8.92
Free cash flow per shareRs -8.92
Efficiency
Asset turnover0.17x
Debtor days271 days
Debtors turnover1.35x
Creditor days375 days
Cash conversion cycle271 days
Working capital days-534 days
Leverage
Cash and bankRs 0 Cr
Net debtRs -0 Cr
Net debt / EBITDA-0.04x
Interest coverage1.54x
Owners' fund to total sources29.95%
Cash flow
Cash from Operating Activity (latest year)Rs -8 Cr
Cash from Investing Activity (latest year)Rs 0 Cr
Cash from Financing Activity (latest year)Rs 8 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -8 Cr
Cash from ops / profit, 5 years0.23x
Statement figures
Net sales (TTM)Rs 8 Cr
Net sales (latest year)Rs 7 Cr
Sales (latest quarter)Rs 1 Cr
Operating profit excl. other income (latest year)Rs 2 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 2 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 4 Cr
Total expenditure (latest year)Rs 5 Cr
Total income (latest year)Rs 7 Cr
Share capitalRs 9 Cr
ReservesRs 2 Cr
Shareholders' fundsRs 12 Cr
Total assetsRs 39 Cr
ReceivablesRs 5 Cr
Other liabilitiesRs 27 Cr
Shares outstanding (crore)0.93
Ownership
Promoter holding0.00% (-25.25 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 11.0 is at the 10th percentile of its own 3.5-year range (median 60.6, low 4.0, high 262.1).
P/B 0.52 is at the 5th percentile (median 0.95).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
Period512443Nifty 50Difference
1 week-9.9%-2.8% -7.1 pts
1 month-14.8%-6.8% -8.0 pts
3 months-51.7%-7.6% -44.1 pts
3 years-59.9%+14.2% -74.1 pts
5 years-36.7%+27.9% -64.6 pts

Red flags

F-score 5 of 8
explainWeak cash conversion Cash from operations was -788% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 23% of total assets in 2026
explainReceivables outrunning sales Receivables grew 532% vs sales -61% in 2026
lookProfit leans on other income Other income was 56% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1 Cr. Net profit ₹0 Cr +100.0%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Ganon Products Ltd?

Ganon Products Ltd (512443) has a market capitalisation of Rs 6.38 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ganon Products Ltd?

Ganon Products Ltd trades at a P/E of 11.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ganon Products Ltd's latest quarterly results?

In the Jun 2026 quarter, Ganon Products Ltd sales was Rs 1 Cr and net profit was Rs 0 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03