Price
Financials
Consolidated, Rs crore| Jun 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5 | 44 | 54 | 40 | 94 | 66 | 60 | 22 | 80 | 42 | 35 | 38 |
| Expenses | 4 | 21 | 38 | 30 | 77 | 78 | 72 | 20 | 48 | 42 | 25 | 20 |
| Operating Profit | 2 | 23 | 16 | 9 | 17 | -12 | -12 | 2 | 32 | -0 | 10 | 17 |
| OPM % | 29% | 53% | 30% | 24% | 18% | -19% | -20% | 8% | 40% | -0.8% | 28% | 46% |
| Other Income | 1 | 2 | 1 | 0 | 3 | 14 | -11 | 1 | -12 | 13 | -1 | 1 |
| Interest | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| Profit before tax | 2 | 25 | 16 | 9 | 19 | 1 | -24 | 2 | 19 | 11 | 8 | 17 |
| Tax % | 16% | 24% | 28% | 25% | 22% | -60% | -11% | 37% | 33% | 40% | 7% | 26% |
| Net Profit | 2 | 19 | 12 | 7 | 15 | 1 | -21 | 1 | 13 | 7 | 7 | 13 |
| EPS in Rs | 0.94 | 8.55 | 4.10 | 2.29 | 4.39 | 1.53 | -7.57 | 0.34 | 5.06 | 0.71 | 2.07 | 3.86 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2 | 3 | 1 | 3 | 4 | 14 | 113 | 262 | 179 | 194 |
| Expenses | 3 | 2 | 2 | 2 | 3 | 5 | 65 | 257 | 136 | 136 |
| Operating Profit | -0 | 1 | -1 | 1 | 2 | 9 | 48 | 5 | 43 | 58 |
| OPM % | -15% | 22% | -78% | 35% | 38% | 62% | 43% | 1.8% | 24% | 30% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 16 | 2 | 4 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 2 | 2 |
| Profit before tax | -0 | 0 | -1 | 1 | 2 | 24 | 47 | 5 | 39 | 55 |
| Tax % | 10% | 20% | 1% | 3% | 3% | 9% | 22% | 64% | 30% | |
| Net Profit | -1 | 0 | -2 | 1 | 4 | 22 | 37 | 2 | 28 | 40 |
| EPS in Rs | -0.58 | 0.20 | -1.27 | 0.36 | 1.59 | 9.83 | 12.40 | 0.58 | 9.84 | 11.70 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 2% | 1% | 55% | 7% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 124% | 133% | -20% | ||
| Compounded Profit Growth | % | 106% | 2% | 1024% | ||
| Stock Price CAGR | % | 125% | 86% | 167% | ||
| Return on Equity | % | 17% | 13% | 13% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.65 | 0.65 | 0.65 | 0.90 | 1 | 10 | 12 | 12 | 24 |
| Reserves | 4 | 5 | 3 | 5 | 12 | 28 | 97 | 181 | 146 |
| Borrowings | 2 | 3 | 4 | 2 | 2 | 0 | 4 | 11 | 15 |
| Other Liabilities | 1 | 1 | 1 | 1 | 4 | 10 | 63 | 66 | 79 |
| Total Liabilities | 8 | 9 | 8 | 10 | 20 | 48 | 177 | 270 | 263 |
| Fixed Assets | 4 | 3 | 3 | 3 | 9 | 10 | 41 | 41 | 30 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3 | 4 | 4 | 5 | 8 | 33 | 50 | 129 | 59 |
| Other Assets | 1 | 2 | 1 | 2 | 2 | 5 | 86 | 100 | 174 |
| Total Assets | 8 | 9 | 8 | 10 | 20 | 48 | 177 | 270 | 263 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -0 | 0 | -0 | 1 | 2 | 10 | -19 | -31 | -28 |
| Cash from Investing Activity | 1 | -0 | -0 | -1 | -4 | -8 | -37 | 2 | -9 |
| Cash from Financing Activity | -0 | 0 | 1 | 1 | 3 | -2 | 67 | 28 | 26 |
| Net Cash Flow | -0 | 0 | 0 | 0 | 0 | 1 | 12 | -2 | -11 |
| Free Cash Flow | 0 | 0 | -1 | 0 | 2 | 9 | -45 | -35 | -29 |
| CFO/OP | 50% | 36% | 52% | 50% | 113% | 120% | -38% | -321% | -49% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 25 | 49 | 144 | 41 | 15 | 7 | 3 | 20 |
| Inventory Days | 363 | 112 | 623 | ||||||
| Days Payable | 0 | 1 | 7 | ||||||
| Cash Conversion Cycle | 16 | 25 | 49 | 144 | 41 | 15 | 369 | 115 | 636 |
| Working Capital Days | -30 | 45 | -62 | 79 | 50 | -90 | 150 | 109 | 282 |
| ROCE % | 7% | -11% | 13% | 14% | 79% | 50% | 3% | 17% |
| Oct 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.48% | 69.61% | 66.24% | 66.24% | 66.24% | 64.01% | 63.27% | 63.27% | 63.27% | 61.64% | 61.64% | 60.53% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.23% | 1.10% | 1.99% | 2.49% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.27% | 0.41% | 0.00% | 0.00% |
| Public | 26.51% | 30.39% | 33.76% | 33.76% | 33.76% | 35.98% | 36.73% | 36.74% | 35.23% | 36.84% | 36.36% | 36.97% |
| No. of Shareholders | 105 | 96 | 924 | 1,101 | 1,008 | 1,159 | 1,186 | 1,012 | 1,152 | 1,507 | 2,842 | 2,981 |
Fundamentals
Market Cap₹ 1,665 Cr.
Current Price₹ 666
Stock P/E61.1
Book Value₹ 72.4
ROCE16.7 %
ROE12.7 %
Dividend Yield0.11 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-20%
Compounded Profit Growth (TTM)1024%
Consolidated figures.
Valuation
Market capRs 1,699 Cr
Enterprise valueRs 1,692 Cr
P/E (TTM)62.34x
Price to book8.79x
Price to sales8.75x
EV / EBITDA28.65x
EV / EBIT29.62x
EV / sales8.72x
Earnings yield1.60%
Dividend yield0.04%
P/E, 3-year average91.51x
P/B, 3-year average2.18x
P/E, 5-year average68.72x
P/B, 5-year average1.66x
Profitability
Operating margin (excl. other income)1.80%
Operating margin (incl. other income)3.15%
EBITDA margin30.44%
Pre-tax margin28.38%
Net profit margin14.04%
Net margin, latest quarter24.87%
ROE0.86%
ROCE3.54%
ROA0.58%
ROE, 3-year average39.96%
ROCE, 3-year average52.02%
ROA, 3-year average29.16%
ROE, 5-year average33.64%
ROCE, 5-year average36.89%
ROA, 5-year average23.61%
ROIC (approx.)10.98%
Tax rate64.09%
Other income / net worth1.83%
Growth
Sales growth (latest year)131.53%
Profit growth (latest year)-95.21%
Sales CAGR, 3 years291.48%
Sales CAGR, 5 years194.68%
Profit CAGR, 3 years-28.59%
Sales growth QoQ7.75%
Profit growth QoQ91.98%
Sales growth YoY (latest quarter)70.70%
Profit growth YoY (latest quarter)1111.69%
Per share
EPS (TTM)Rs 10.91
EPS (latest year)Rs 1.09
EPS (latest quarter)Rs 3.73
EPS, 3-year averageRs 15.20
EPS, 5-year averageRs 16.77
Book value per shareRs 77.35
Sales per shareRs 77.67
Cash flow per shareRs -12.43
Free cash flow per shareRs -11.61
Dividend per share (latest year)Rs 0.60
Dividend per share, 3-year averageRs 0.47
Dividend per share, 5-year averageRs 0.47
Dividends
Dividend payout55.38%
Dividend payout, 3-year average19.68%
Dividend payout, 5-year average19.68%
Efficiency
Asset turnover0.97x
Fixed asset turnover6.35x
Inventory turnover3.26x
Inventory days112 days
Debtor days3 days
Debtors turnover115.00x
Creditor days7 days
Cash conversion cycle636 days
Working capital days282 days
Leverage
Total debtRs 11 Cr
Cash and bankRs 17 Cr
Net debtRs -6 Cr
Debt to equity0.06x
Net debt / EBITDA-0.11x
Interest coverage27.87x
Current ratio (filing 2026-03-31)7.09x
Quick ratio (filing 2026-03-31)0.72x
Trade payables (filing 2026-03-31)Rs 2 Cr
Owners' fund to total sources71.46%
Debt to assets4.00%
Cash flow
Cash from Operating Activity (latest year)Rs -31 Cr
Cash from Investing Activity (latest year)Rs 2 Cr
Cash from Financing Activity (latest year)Rs 28 Cr
Net Cash Flow (latest year)Rs -2 Cr
Free cash flow (latest year)Rs -29 Cr
FCFE (approx.: FCF + change in debt)Rs -23 Cr
Cash from ops / profit, 5 years-0.71x
Statement figures
Net sales (TTM)Rs 194 Cr
Net sales (latest year)Rs 262 Cr
Sales (latest quarter)Rs 38 Cr
Operating profit excl. other income (latest year)Rs 5 Cr
Operating profit (latest quarter)Rs 17 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 59 Cr
PBDT (TTM)Rs 57 Cr
Profit before tax (TTM)Rs 55 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 27 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 9 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 226 Cr
Total expenditure (latest year)Rs 257 Cr
Total income (latest year)Rs 266 Cr
Share capitalRs 12 Cr
ReservesRs 181 Cr
Shareholders' fundsRs 193 Cr
Total assetsRs 270 Cr
Net blockRs 41 Cr
InvestmentsRs 129 Cr
ReceivablesRs 2 Cr
InventoryRs 69 Cr
Other liabilitiesRs 66 Cr
Shares outstanding (crore)2.50
Ownership
Promoter holding60.53% (-2.74 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 62.3 is at the 45th percentile of its own 3.2-year range
(median 69.6, low 22.1, high 395.1).
P/B 8.79 is at the 44th percentile (median 14.15).
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 | GCSL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +7.4% | -2.8% | +10.1 pts |
| 1 month | +20.8% | -6.8% | +27.6 pts |
| 3 months | +38.6% | -7.6% | +46.2 pts |
| 6 months | +96.5% | +0.4% | +96.1 pts |
| 1 year | +158.5% | -9.9% | +168.4 pts |
| 3 years | +555.9% | +14.2% | +541.7 pts |
| 5 years | +5853.6% | +27.9% | +5825.7 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -79% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 12% of total assets in 2026 |
| explain | Debt up, profit down Borrowings up 145% while net profit fell in 2026 |
| look | Profit leans on other income Other income was 70% of pre-tax profit in 2026 |
| look | Auditor change Auditor change 2026-07-31: Gretex Corporate Services Limited has informed the Exchange regarding Change in Auditors of the company. |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
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 ₹38 Cr +72.7% vs Jun 2025.
Net profit ₹13 Cr +1200.0%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Quest Capital Markets Ltd | 244 | 10.8 | 2.58 % |
| Mefcom Capital Markets Ltd | 54 | -3.65 % | |
| Twenty First Century Management Services Ltd | 42 | -57.0 % | |
| Interactive Financial Services Ltd | 8 | 1.91 | 15.9 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-07-17 | Dividend - Re 0.70 Per Share |
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.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1