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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 0 | 1 | 1 | 0 | -1 | 0 | 0 | 0 | 0 | 4 | 0 |
| Interest | 35 | 35 | 34 | 35 | 35 | 35 | 35 | 35 | 36 | 36 | 35 | 23 |
| Expenses | 3 | -1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Financing Profit | -36 | -34 | -34 | -35 | -36 | -37 | -35 | -36 | -36 | -36 | -32 | -24 |
| Financing Margin % | -3,736% | -168,750% | -5,524% | -6,558% | -10,462% | 3,813% | -14,056% | -39,456% | -72,320% | -776% | ||
| Other Income | 5 | 3 | 5 | 4 | 4 | 5 | 4 | 4 | 4 | 4 | -1 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -31 | -30 | -30 | -31 | -31 | -32 | -31 | -31 | -32 | -32 | -32 | -20 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -31 | -30 | -30 | -31 | -31 | -32 | -31 | -31 | -32 | -32 | -32 | -20 |
| EPS in Rs | -3.47 | -3.41 | -3.32 | -3.50 | -3.53 | -3.55 | -3.48 | -3.48 | -3.59 | -3.58 | -3.63 | -2.21 |
| Gross NPA % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
| Net NPA % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 34 | 12 | 15 | 12 | 13 | 11 | 10 | 10 | 18 | 15 | 16 | 4 |
| Interest | 121 | 124 | 126 | 128 | 130 | 132 | 134 | 136 | 137 | 139 | 141 | 129 |
| Expenses | 19 | 11 | 7 | 8 | 6 | 5 | 5 | 4 | 3 | 3 | 2 | 2 |
| Financing Profit | -106 | -122 | -118 | -124 | -123 | -126 | -128 | -129 | -123 | -127 | -127 | -128 |
| Financing Margin % | -309% | -1,001% | -802% | -1,049% | -937% | -1,149% | -1,246% | -1,272% | -696% | -829% | -776% | -3,092% |
| Other Income | 1 | 6 | 3 | 10 | 6 | 3 | 1 | 4 | 4 | 2 | 0 | 12 |
| Depreciation | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -105 | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 | -127 | -116 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| Net Profit | -105 | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 | -127 | -116 |
| EPS in Rs | -11.78 | -13.15 | -12.96 | -12.89 | -13.18 | -13.79 | -14.34 | -14.04 | -13.38 | -14.07 | -14.28 | -13.01 |
| 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 | -7% | 8% | 17% | -1524% | ||
| Compounded Profit Growth | -2% | -1% | -1% | 10% | ||
| Stock Price CAGR | 13% | 8% | -4% | -31% | ||
| Return on Equity | % | % | % | % |
| 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 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 |
| Reserves | -1,961 | -2,066 | -2,184 | -2,299 | -2,414 | -2,531 | -2,654 | -2,782 | -2,907 | -3,029 | -3,154 | -3,282 |
| Borrowing | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 |
| Other Liabilities | 1,314 | 1,434 | 1,558 | 1,683 | 1,812 | 1,941 | 2,073 | 2,207 | 2,342 | 2,479 | 2,619 | 2,760 |
| Total Liabilities | 108 | 123 | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 | 234 |
| Fixed Assets | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 2 | 2 | 2 | 2 |
| CWIP | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3 | 2 | 2 | 126 | 141 | 153 | 163 | 170 | 179 | 194 | 206 | 221 |
| Other Assets | 101 | 116 | 123 | 10 | 8 | 9 | 8 | 7 | 9 | 10 | 12 | 11 |
| Total Assets | 108 | 123 | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 | 234 |
| 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 | -2 | 1 | -2 | 3 | 5 | 2 | -1 | -14 | -8 | -12 | -14 | -17 |
| Cash from Investing Activity | 25 | 11 | 9 | -2 | -7 | -2 | 1 | 9 | 9 | 11 | 14 | 16 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 23 | 12 | 7 | 1 | -2 | -0 | 0 | -4 | 1 | -1 | 1 | -1 |
| Free Cash Flow | 1 | 1 | -2 | 3 | 5 | 2 | -1 | -14 | -8 | -12 | -14 | -17 |
| CFO/OP | 12% | 7% | -141% | 38% | 123% | 26% | -21% | -258% | -125% | -79% | -111% | -122% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % |
| 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 | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% | 83.95% |
| DIIs | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | 1.38% | 1.13% | 1.13% | 1.13% |
| Government | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | 4.20% | 2.10% | 2.10% | 2.10% |
| Public | 10.41% | 10.40% | 10.41% | 10.41% | 10.40% | 10.41% | 10.42% | 10.41% | 10.48% | 12.82% | 12.83% | 12.82% |
| No. of Shareholders | 12,445 | 12,625 | 14,385 | 17,782 | 19,691 | 22,371 | 22,944 | 23,126 | 23,044 | 23,108 | 23,196 | 22,642 |
Fundamentals
Market Cap₹ 81.3 Cr.
Current Price₹ 9.12
Book Value₹ -358
ROCE%
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-1524%
Compounded Profit Growth (TTM)10%
Standalone figures.
Valuation
Market capRs 92 Cr
Enterprise valueRs 754 Cr
Price to book-0.03x
Price to sales5.64x
EV / EBITDA55.05x
EV / EBIT55.78x
EV / sales46.01x
Earnings yield-125.59%
P/B, 3-year average-0.05x
P/B, 5-year average-0.04x
Profitability
Operating margin (excl. other income)85.65%
Operating margin (incl. other income)86.02%
EBITDA margin83.58%
Pre-tax margin-707.88%
Net profit margin-707.88%
ROE4.07%
ROA-56.12%
ROE, 3-year average4.13%
ROA, 3-year average-58.35%
ROE, 5-year average4.36%
ROA, 5-year average-62.96%
Other income / net worth-0.00%
Growth
Sales growth (latest year)6.85%
Sales CAGR, 3 years17.30%
Sales CAGR, 5 years8.35%
Per share
EPS (TTM)Rs -11.79
EPS (latest year)Rs -12.95
EPS (latest quarter)Rs -2.00
EPS, 3-year averageRs -12.61
EPS, 5-year averageRs -12.71
Book value per shareRs -324.26
Sales per shareRs 1.67
Cash flow per shareRs -1.74
Free cash flow per shareRs -1.73
Efficiency
Asset turnover0.07x
Fixed asset turnover9.15x
Leverage
Total debtRs 662 Cr
Cash and bankRs 0 Cr
Net debtRs 661 Cr
Debt to equity-0.21x
Net debt / EBITDA48.30x
Interest coverage0.10x
Owners' fund to total sources-1364.77%
Debt to assets283.24%
Cash flow
Cash from Operating Activity (latest year)Rs -17 Cr
Cash from Investing Activity (latest year)Rs 16 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -17 Cr
FCFE (approx.: FCF + change in debt)Rs -17 Cr
Statement figures
Net sales (TTM)Rs 16 Cr
Net sales (latest year)Rs 16 Cr
Operating profit excl. other income (latest year)Rs 14 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 12 Cr
EBITDA (TTM)Rs 14 Cr
PBDT (TTM)Rs -116 Cr
Profit before tax (TTM)Rs -116 Cr
Net profit (TTM)Rs -116 Cr
Net profit (latest year)Rs -127 Cr
Net profit (latest quarter)Rs -20 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 129 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 2 Cr
Total income (latest year)Rs 16 Cr
Share capitalRs 94 Cr
ReservesRs -3,282 Cr
Shareholders' fundsRs -3,188 Cr
Total assetsRs 234 Cr
Net blockRs 2 Cr
InvestmentsRs 221 Cr
Other liabilitiesRs 2,760 Cr
Shares outstanding (crore)9.83
Ownership
Promoter holding83.95% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | 532160 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.7% | -2.8% | +0.1 pts |
| 1 month | -9.0% | -6.8% | -2.2 pts |
| 3 months | -10.8% | -7.6% | -3.2 pts |
| 3 years | -12.9% | +14.2% | -27.1 pts |
| 5 years | +49.8% | +27.9% | +21.9 pts |
Red flags
F-score 6 of 8| serious | Negative equity Shareholders' equity is negative |
| look | Repeated losses Net loss in each of the last two years |
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 2026Revenue ₹0 Cr.
Net loss ₹20 Cr.
Activity
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| Power Finance Corporation Ltd | 106,956 | 4.10 | 9.71 % |
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| Indian Renewable Energy Development Agency Ltd | 31,182 | 15.9 | 8.69 % |
| IFCI Ltd | 19,122 | 107 | 4.90 % |
| Tourism Finance Corporation of India Ltd | 6,432 | 41.7 | 11.1 % |
| Haryana Financial Corporation Ltd | 1,163 | 153 | 3.74 % |
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 Gujarat State Financial Corporation?
Gujarat State Financial Corporation (532160) has a market capitalisation of Rs 81.3 Cr. at the 2026-10-01 close.
What were Gujarat State Financial Corporation's latest quarterly results?
In the Jun 2026 quarter, Gujarat State Financial Corporation revenue was Rs 0 Cr with a net loss of Rs 20 Cr.