Price
Financials
Consolidated, Rs crore| Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 399 | 418 | 414 | 415 | 425 | 371 | 377 | 374 | 349 | 340 | 352 | 210 |
| Expenses | 324 | 305 | 305 | 315 | 351 | 288 | 369 | 316 | 300 | 246 | 263 | 384 |
| Operating Profit | 75 | 113 | 109 | 101 | 73 | 83 | 7 | 58 | 49 | 93 | 88 | -174 |
| OPM % | 19% | 27% | 26% | 24% | 17% | 22% | 2.0% | 15% | 14% | 28% | 25% | -83% |
| Other Income | 6 | 10 | 7 | 9 | 10 | 8 | 12 | 10 | 8 | 12 | 16 | 4 |
| Interest | 72 | 35 | 34 | 35 | 39 | 37 | 37 | 38 | 37 | 36 | 36 | 38 |
| Depreciation | 65 | 59 | 58 | 56 | 57 | 54 | 54 | 53 | 53 | 49 | 48 | 44 |
| Profit before tax | -56 | 28 | 23 | 19 | -13 | 1 | -71 | -23 | -32 | 20 | 21 | -252 |
| Tax % | -14% | 32% | 11% | 35% | 20% | 36% | -14% | -32% | -86% | 32% | 27% | -23% |
| Net Profit | -48 | 19 | 21 | 12 | -15 | 1 | -61 | -15 | -4 | 14 | 15 | -194 |
| EPS in Rs | -3.98 | 1.58 | 1.70 | 1.02 | -1.27 | 0.05 | -5.02 | -1.27 | -0.37 | 1.14 | 1.24 | -15.17 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,308 | 1,473 | 1,806 | 1,800 | 1,759 | 1,772 | 1,671 | 1,471 | 1,250 |
| Expenses | 1,154 | 1,262 | 1,376 | 1,336 | 1,321 | 1,361 | 1,273 | 1,273 | 1,193 |
| Operating Profit | 154 | 211 | 429 | 465 | 437 | 411 | 398 | 197 | 57 |
| OPM % | 12% | 14% | 24% | 26% | 25% | 23% | 24% | 13% | 4.5% |
| Other Income | 15 | 9 | 13 | 30 | 38 | 24 | 34 | 38 | 40 |
| Interest | 78 | 83 | 137 | 130 | 133 | 250 | 144 | 148 | 147 |
| Depreciation | 100 | 113 | 227 | 245 | 260 | 252 | 231 | 213 | 193 |
| Profit before tax | -10 | 24 | 79 | 120 | 82 | -67 | 58 | -125 | -243 |
| Tax % | 109% | 73% | 16% | 31% | 34% | 24% | 36% | -36% | |
| Net Profit | -22 | 6 | 66 | 83 | 55 | -82 | 37 | -80 | -170 |
| EPS in Rs | -1.79 | 0.52 | 5.50 | 6.89 | 4.55 | -6.79 | 3.04 | -6.60 | -13.16 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 22% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | -4% | -6% | -19% | ||
| Compounded Profit Growth | % | % | % | -86% | ||
| Stock Price CAGR | % | % | -65% | -37% | ||
| Return on Equity | % | 1% | -8% | -16% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 119 | 119 | 119 | 119 | 119 | 120 | 120 | 121 | 121 |
| Reserves | 275 | 284 | 306 | 380 | 440 | 362 | 415 | 341 | 413 |
| Borrowings | 657 | 703 | 1,105 | 1,159 | 1,622 | 1,104 | 1,231 | 1,120 | 1,069 |
| Other Liabilities | 365 | 450 | 524 | 583 | 733 | 767 | 517 | 510 | 517 |
| Total Liabilities | 1,416 | 1,555 | 2,054 | 2,241 | 2,914 | 2,353 | 2,283 | 2,091 | 2,121 |
| Fixed Assets | 493 | 549 | 1,008 | 1,052 | 965 | 910 | 804 | 718 | 631 |
| CWIP | 68 | 66 | 50 | 89 | 58 | 44 | 40 | 29 | 22 |
| Investments | 0 | 0 | 0 | 2 | 10 | 0 | 1 | 2 | 1 |
| Other Assets | 855 | 941 | 997 | 1,098 | 1,880 | 1,399 | 1,439 | 1,343 | 1,468 |
| Total Assets | 1,416 | 1,555 | 2,054 | 2,241 | 2,914 | 2,353 | 2,283 | 2,091 | 2,121 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 206 | 196 | 486 | 446 | 418 | 325 | 249 | 349 |
| Cash from Investing Activity | -210 | -161 | -165 | -291 | -156 | -12 | -126 | -15 |
| Cash from Financing Activity | 15 | -31 | -315 | -172 | 320 | -875 | -137 | -316 |
| Net Cash Flow | 12 | 4 | 6 | -16 | 582 | -562 | -14 | 18 |
| Free Cash Flow | -5 | 40 | 324 | 224 | 296 | 241 | 141 | 301 |
| CFO/OP | 158% | 109% | 119% | 101% | 97% | 88% | 73% | 183% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 82 | 91 | 90 | 93 | 102 | 188 | 197 | 181 |
| Inventory Days | 190 | 143 | 95 | 85 | 100 | 104 | 152 | 276 |
| Days Payable | 224 | 209 | 251 | 344 | 398 | 817 | 752 | 1,035 |
| Cash Conversion Cycle | 48 | 25 | -66 | -166 | -196 | -525 | -403 | -578 |
| Working Capital Days | 73 | 73 | -35 | -49 | -46 | -4 | 37 | -5 |
| ROCE % | 10% | 17% | 16% | 11% | 10% | 12% | 1% |
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 65.52% | 65.52% | 65.52% | 65.53% | 65.53% | 65.06% | 60.11% | 52.23% | 26.47% | 26.47% | 26.47% | 26.47% |
| FIIs | 0.06% | 0.01% | 0.44% | 1.65% | 0.83% | 0.02% | 0.41% | 0.12% | 0.12% | 0.06% | 0.06% | 0.06% |
| DIIs | 5.27% | 5.27% | 3.85% | 3.85% | 3.78% | 3.75% | 4.99% | 6.56% | 7.14% | 4.12% | 3.60% | 3.60% |
| Public | 28.40% | 28.43% | 29.87% | 28.66% | 29.55% | 30.33% | 34.23% | 40.82% | 66.00% | 69.08% | 69.60% | 69.61% |
| Others | 0.75% | 0.75% | 0.31% | 0.31% | 0.30% | 0.83% | 0.26% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| No. of Shareholders | 1,08,075 | 1,06,872 | 1,02,102 | 93,316 | 92,299 | 90,136 | 92,922 | 98,165 | 1,05,013 | 1,07,265 | 1,04,763 | 1,02,435 |
Fundamentals
Market Cap₹ 33.9 Cr.
Current Price₹ 2.64
Book Value₹ 41.8
ROCE1.26 %
ROE-16.3 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-19%
Compounded Profit Growth (TTM)-86%
Consolidated figures.
Valuation
Market capRs 31 Cr
Enterprise valueRs 1,054 Cr
Price to book0.06x
Price to sales0.02x
EV / EBITDA10.91x
EV / sales0.84x
Price to cash flow0.09x
Earnings yield-555.93%
P/B, 3-year average2.50x
P/B, 5-year average2.50x
Profitability
Operating margin (excl. other income)23.20%
Operating margin (incl. other income)24.58%
EBITDA margin7.73%
Pre-tax margin-19.45%
Net profit margin-13.57%
Net margin, latest quarter-92.68%
ROE-15.85%
ROCE9.75%
ROA-3.13%
ROE, 3-year average4.16%
ROCE, 3-year average12.22%
ROA, 3-year average0.95%
ROE, 5-year average6.01%
ROCE, 5-year average12.58%
ROA, 5-year average1.39%
ROIC (approx.)-7.94%
Tax rate-23.88%
Other income / net worth5.06%
Growth
Sales growth (latest year)0.74%
Profit growth (latest year)-250.52%
Sales CAGR, 3 years-0.63%
Sales CAGR, 5 years6.26%
Sales growth QoQ-40.40%
Profit growth QoQ-1380.55%
Sales growth YoY (latest quarter)-43.92%
Per share
EPS (TTM)Rs -14.12
EPS (latest year)Rs -6.86
EPS (latest quarter)Rs -16.17
EPS, 3-year averageRs 1.59
EPS, 5-year averageRs 2.17
Book value per shareRs 40.09
Sales per shareRs 104.04
Cash flow per shareRs 27.01
Free cash flow per shareRs 25.05
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout, 3-year average21.65%
Dividend payout, 5-year average21.65%
Efficiency
Asset turnover0.75x
Fixed asset turnover1.95x
Inventory turnover11.45x
Inventory days32 days
Debtor days188 days
Debtors turnover1.94x
Creditor days1035 days
Cash conversion cycle-578 days
Working capital days-5 days
Leverage
Total debtRs 1,104 Cr
Cash and bankRs 81 Cr
Net debtRs 1,023 Cr
Debt to equity2.29x
Net debt / EBITDA10.60x
Interest coverage-0.66x
Owners' fund to total sources20.48%
Debt to assets46.93%
Cash flow
Cash from Operating Activity (latest year)Rs 325 Cr
Cash from Investing Activity (latest year)Rs -12 Cr
Cash from Financing Activity (latest year)Rs -875 Cr
Net Cash Flow (latest year)Rs -562 Cr
Free cash flow (latest year)Rs 301 Cr
FCFE (approx.: FCF + change in debt)Rs -217 Cr
Cash from ops / profit, 5 years137.46x
Sales to cash flow5.46x
Statement figures
Net sales (TTM)Rs 1,250 Cr
Net sales (latest year)Rs 1,772 Cr
Sales (latest quarter)Rs 210 Cr
Operating profit excl. other income (latest year)Rs 411 Cr
Operating profit (latest quarter)Rs -174 Cr
Other income (TTM)Rs 40 Cr
EBITDA (TTM)Rs 97 Cr
PBDT (TTM)Rs -50 Cr
Profit before tax (TTM)Rs -243 Cr
Tax (latest year)Rs 16 Cr
Net profit (TTM)Rs -170 Cr
Net profit (latest year)Rs -82 Cr
Net profit (latest quarter)Rs -194 Cr
Depreciation (TTM)Rs 193 Cr
Depreciation (latest quarter)Rs 44 Cr
Interest (TTM)Rs 147 Cr
Cost of goods sold (latest year)Rs 743 Cr
Total expenditure (latest year)Rs 1,361 Cr
Total income (latest year)Rs 1,796 Cr
Share capitalRs 120 Cr
ReservesRs 362 Cr
Shareholders' fundsRs 482 Cr
Total assetsRs 2,353 Cr
Net blockRs 910 Cr
Capital work in progressRs 44 Cr
InvestmentsRs 0 Cr
ReceivablesRs 915 Cr
InventoryRs 65 Cr
Other liabilitiesRs 767 Cr
Shares outstanding (crore)12.02
Ownership
Promoter holding26.47% (-25.76 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 0.06 is at the 3th percentile (median 1.31).
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 | AGSTRA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +10.9% | -2.8% | +13.7 pts |
| 1 month | +26.4% | -6.8% | +33.2 pts |
| 3 months | -19.6% | -7.6% | -12.0 pts |
| 6 months | -38.8% | +0.4% | -39.2 pts |
| 1 year | -54.7% | -9.9% | -44.8 pts |
| 2 years | -96.8% | -13.6% | -83.2 pts |
| 3 years | -95.8% | +14.2% | -110.0 pts |
1 mutual fund schemes hold about ₹0 Cr.
Over three months 0 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Balanced Advantage Fund | 0.00% | 0 |
Red flags
F-score 5 of 8| explain | Receivables outrunning sales Receivables grew 86% vs sales +1% in 2024 |
| look | On NSE surveillance On NSE surveillance: GSM, Insolvency |
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
Dec 2024Sales ₹210 Cr -43.9% vs Dec 2023.
Net loss ₹194 Cr.
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.
GSMInsolvency Resolution Process(IRP): stage 1Under BZ/SZ Series