Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 61.75 | 65.40 | 71.02 | 62.33 | 62.16 | 62.97 | 74.16 | 60.15 | 61.38 | 92.39 | 75.37 | 57.18 |
| Expenses | 60.83 | 63.34 | 68.92 | 60.47 | 61.09 | 60.77 | 71.60 | 58.68 | 58.27 | 88.35 | 71.20 | 54.12 |
| Operating Profit | 0.92 | 2.06 | 2.10 | 1.86 | 1.07 | 2.20 | 2.56 | 1.47 | 3.11 | 4.04 | 4.17 | 3.06 |
| OPM % | 1.49% | 3.15% | 2.96% | 2.98% | 1.72% | 3.49% | 3.45% | 2.44% | 5.07% | 4.37% | 5.53% | 5.35% |
| Other Income | 0.03 | 0.08 | 1.17 | 0.13 | 0.11 | 0.30 | 1.16 | 0.23 | 0.09 | 0.11 | 0.08 | 0.14 |
| Interest | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | 0.38 | 0.39 |
| Depreciation | 0.38 | 0.40 | 0.40 | 0.39 | 0.41 | 0.42 | 0.42 | 0.43 | 0.44 | 0.44 | 0.47 | 0.45 |
| Profit before tax | 0.52 | 1.70 | 2.83 | 1.57 | 0.74 | 2.05 | 3.28 | 1.25 | 2.74 | 3.68 | 3.40 | 2.36 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 22.94% | 28.81% |
| Net Profit | 0.51 | 1.70 | 2.83 | 1.56 | 0.74 | 2.05 | 3.28 | 1.25 | 2.74 | 3.68 | 2.62 | 1.68 |
| EPS in Rs | 1.27 | 4.24 | 6.14 | 3.38 | 1.61 | 4.09 | 6.55 | 2.50 | 4.02 | 5.40 | 3.85 | 2.47 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 90 | 54 | 66 | 112 | 99 | 119 | 179 | 238 | 258 | 262 | 289 | 286 |
| Expenses | 95 | 65 | 70 | 118 | 105 | 119 | 171 | 231 | 253 | 254 | 276 | 272 |
| Operating Profit | -5 | -11 | -4 | -6 | -6 | 0 | 7 | 7 | 5 | 8 | 13 | 14 |
| OPM % | -5% | -21% | -7% | -5% | -7% | 0.1% | 4.2% | 3.1% | 1.9% | 2.9% | 4.4% | 5% |
| Other Income | 0 | 0 | 5 | 13 | 12 | -3 | 0 | 0 | 2 | 2 | 0 | 0 |
| Interest | 7 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Profit before tax | -13 | -14 | -1 | 5 | 4 | -5 | 6 | 6 | 6 | 8 | 11 | 12 |
| Tax % | 0% | 0% | -91% | 0% | 0% | 1% | 0% | 0% | 0% | 0% | 7% | |
| Net Profit | -13 | -14 | -0 | 5 | 4 | -5 | 6 | 6 | 6 | 8 | 10 | 11 |
| EPS in Rs | -33.00 | -33.80 | -0.32 | 12.75 | 8.93 | -11.75 | 15.77 | 14.82 | 12.06 | 15.25 | 15.11 | 15.74 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 12% | 19% | 7% | 10% | ||
| Compounded Profit Growth | 11% | 53% | 20% | 46% | ||
| Stock Price CAGR | 37% | 60% | 14% | 51% | ||
| Return on Equity | 3% | 18% | 14% | 13% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 7 |
| Reserves | 27 | 14 | 0 | 0 | 5 | 9 | 4 | 11 | 17 | 44 | 57 | 92 |
| Borrowings | 54 | 75 | 75 | 73 | 39 | 9 | 8 | 10 | 5 | 2 | 1 | 18 |
| Other Liabilities | 64 | 19 | 12 | 5 | 10 | 25 | 28 | 25 | 33 | 11 | 14 | 17 |
| Total Liabilities | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 | 61 | 78 | 133 |
| Fixed Assets | 25 | 23 | 22 | 21 | 20 | 19 | 14 | 15 | 15 | 14 | 14 | 14 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 3 | 2 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 37 |
| Other Assets | 121 | 86 | 67 | 59 | 38 | 29 | 29 | 35 | 43 | 46 | 59 | 82 |
| Total Assets | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 | 61 | 78 | 133 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 6 | -18 | -1 | 3 | 31 | 23 | 3 | 0 | 8 | -13 | 4 | -12 |
| Cash from Investing Activity | -7 | 2 | 0 | -0 | 3 | -0 | -0 | -2 | -4 | -0 | -5 | -36 |
| Cash from Financing Activity | 3 | 15 | -1 | -1 | -35 | -23 | -2 | 2 | -6 | 19 | 6 | 42 |
| Net Cash Flow | 2 | -2 | -2 | 2 | -2 | -0 | 1 | 1 | -1 | 5 | 4 | -6 |
| Free Cash Flow | -1 | -18 | -1 | 2 | 33 | 23 | 3 | -2 | 6 | -14 | 2 | -14 |
| CFO/OP | 81% | 395% | 10% | -64% | -516% | -355% | 2,164% | 6% | 118% | -267% | 45% | -96% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 212 | 171 | 237 | 129 | 35 | 35 | 33 | 21 | 27 | 32 | 32 | 25 |
| Inventory Days | 39 | 50 | 23 | 82 | 71 | 44 | 41 | 41 | 28 | 12 | 26 | 29 |
| Days Payable | 177 | 68 | 72 | 28 | 25 | 28 | 25 | 18 | 16 | 14 | 11 | 14 |
| Cash Conversion Cycle | 74 | 153 | 188 | 184 | 81 | 51 | 49 | 44 | 39 | 30 | 48 | 40 |
| Working Capital Days | 25 | -73 | -258 | -200 | -35 | -19 | -18 | 4 | 3 | 33 | 42 | 61 |
| ROCE % | 10% | -6% | -15% | -1% | -9% | -17% | -6% | 32% | 24% | 15% | 14% | 13% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 64.23% | 64.23% | 68.86% | 68.89% | 49.36% | 56.85% | 53.41% | 53.41% | 53.41% | 53.41% | 53.41% | 56.91% |
| Public | 35.76% | 35.76% | 31.13% | 31.11% | 50.63% | 43.16% | 46.59% | 46.59% | 46.60% | 46.59% | 46.60% | 43.08% |
| No. of Shareholders | 1,903 | 1,928 | 2,025 | 2,062 | 2,752 | 3,043 | 3,133 | 3,171 | 3,216 | 3,207 | 3,121 | 3,116 |
Fundamentals
Market Cap₹ 167 Cr.
Current Price₹ 245
Stock P/E15.6
Book Value₹ 145
ROCE12.8 %
ROE12.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)46%
Standalone figures.
Valuation
Market capRs 157 Cr
Enterprise valueRs 165 Cr
P/E (TTM)14.62x
Price to book1.58x
Price to sales0.55x
EV / EBITDA11.18x
EV / EBIT12.73x
EV / sales0.58x
Earnings yield6.84%
P/E, 3-year average15.69x
P/B, 3-year average1.80x
P/E, 5-year average10.44x
P/B, 5-year average1.44x
Profitability
Operating margin (excl. other income)4.43%
Operating margin (incl. other income)4.60%
EBITDA margin5.17%
Pre-tax margin4.25%
Net profit margin3.74%
Net margin, latest quarter2.94%
ROE12.77%
ROCE12.80%
ROA9.74%
ROE, 3-year average14.19%
ROCE, 3-year average13.86%
ROA, 3-year average10.01%
ROE, 5-year average26.11%
ROCE, 5-year average19.50%
ROA, 5-year average10.89%
ROIC (approx.)11.23%
Tax rate7.05%
Other income / net worth0.50%
Growth
Sales growth (latest year)10.58%
Profit growth (latest year)34.69%
Sales CAGR, 3 years6.69%
Sales CAGR, 5 years19.37%
Profit CAGR, 3 years20.10%
Sales growth QoQ-24.13%
Profit growth QoQ-35.88%
Sales growth YoY (latest quarter)-4.94%
Profit growth YoY (latest quarter)34.40%
Per share
EPS (TTM)Rs 15.74
EPS (latest year)Rs 15.11
EPS (latest quarter)Rs 2.47
EPS, 3-year averageRs 14.14
EPS, 5-year averageRs 14.60
Book value per shareRs 145.21
Sales per shareRs 420.52
Cash flow per shareRs -18.09
Free cash flow per shareRs -20.56
Efficiency
Asset turnover2.17x
Fixed asset turnover20.42x
Inventory turnover13.96x
Inventory days26 days
Debtor days25 days
Debtors turnover14.63x
Creditor days14 days
Cash conversion cycle40 days
Working capital days61 days
Leverage
Total debtRs 18 Cr
Cash and bankRs 9 Cr
Net debtRs 9 Cr
Debt to equity0.18x
Net debt / EBITDA0.59x
Interest coverage15.85x
Owners' fund to total sources74.16%
Debt to assets13.14%
Cash flow
Cash from Operating Activity (latest year)Rs -12 Cr
Cash from Investing Activity (latest year)Rs -36 Cr
Cash from Financing Activity (latest year)Rs 42 Cr
Net Cash Flow (latest year)Rs -6 Cr
Free cash flow (latest year)Rs -14 Cr
FCFE (approx.: FCF + change in debt)Rs 2 Cr
Cash from ops / profit, 5 years-0.36x
Statement figures
Net sales (TTM)Rs 286 Cr
Net sales (latest year)Rs 289 Cr
Sales (latest quarter)Rs 57 Cr
Operating profit excl. other income (latest year)Rs 13 Cr
Operating profit (latest quarter)Rs 3 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 15 Cr
PBDT (TTM)Rs 14 Cr
Profit before tax (TTM)Rs 12 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 11 Cr
Net profit (latest year)Rs 10 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 273 Cr
Total expenditure (latest year)Rs 276 Cr
Total income (latest year)Rs 290 Cr
Share capitalRs 7 Cr
ReservesRs 92 Cr
Shareholders' fundsRs 99 Cr
Total assetsRs 133 Cr
Net blockRs 14 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 37 Cr
ReceivablesRs 20 Cr
InventoryRs 20 Cr
Other liabilitiesRs 17 Cr
Shares outstanding (crore)0.68
Ownership
Promoter holding56.91% (+3.50 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 14.6 is at the 61th percentile of its own 6.2-year range
(median 9.0, low 1.6, high 47.9).
P/B 1.58 is at the 29th percentile (median 1.91).
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.
| Period | 530615 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +5.6% | -2.8% | +8.4 pts |
| 1 month | +32.0% | -6.8% | +38.8 pts |
| 3 months | +103.9% | -7.6% | +111.6 pts |
| 3 years | +41.0% | +14.2% | +26.8 pts |
| 5 years | +831.8% | +27.9% | +803.9 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -93% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 17% of total assets in 2026 |
| explain | Share dilution Share count up 36% in a year, 70% in three |
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 2026Sales ₹57 Cr -4.9% vs Jun 2025.
Net profit ₹2 Cr +34.4%.
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 Garg Furnace Ltd?
Garg Furnace Ltd (530615) has a market capitalisation of Rs 167 Cr. at the 2026-10-01 close.
What is the P/E ratio of Garg Furnace Ltd?
Garg Furnace Ltd trades at a P/E of 15.6 on trailing twelve-month profit, at the 2026-10-01 close.
What were Garg Furnace Ltd's latest quarterly results?
In the Jun 2026 quarter, Garg Furnace Ltd sales was Rs 57 Cr (-4.9% vs Jun 2025) and net profit was Rs 2 Cr.