MarketFriction

Grand Foundry Ltd

NSE GFSTEELS · BSE 513343 · Iron & Steel Products
₹38.29 +1.97%
NSE close2026-10-01
52 week range10.21 - 37.55
Market cap₹96.6 Cr.
P/E39.6
ESM Price band 2%

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
Sales0.000.000.020.000.000.000.000.000.000.0010.5319.65
Expenses0.070.070.070.120.060.050.080.050.190.119.4517.43
Operating Profit-0.07-0.07-0.05-0.12-0.06-0.05-0.08-0.05-0.19-0.111.082.22
OPM %-250.00%10.26%11.30%
Other Income0.020.000.000.000.000.000.020.000.000.000.000.03
Interest0.170.090.080.090.100.100.100.100.130.130.190.14
Depreciation0.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax-0.22-0.16-0.13-0.21-0.16-0.15-0.16-0.15-0.32-0.240.892.11
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit-0.22-0.16-0.13-0.21-0.16-0.15-0.16-0.15-0.32-0.240.892.11
EPS in Rs-0.07-0.05-0.04-0.07-0.05-0.05-0.05-0.05-0.11-0.080.290.69
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2.242.4713.1225.576.881.060.000.100.000.0010.5330.18
Expenses3.352.1015.0426.639.621.200.200.460.210.319.7927.18
Operating Profit-1.110.37-1.92-1.06-2.74-0.14-0.20-0.36-0.21-0.310.743.00
OPM %-49.55%14.98%-14.63%-4.15%-39.83%-13.21%-360.00%7.03%9.94%
Other Income0.150.120.870.120.460.000.02-0.57-0.020.020.000.03
Interest0.180.190.230.260.020.000.000.180.340.390.560.59
Depreciation0.200.160.090.080.050.040.030.000.000.000.000.00
Profit before tax-1.340.14-1.37-1.28-2.35-0.18-0.21-1.11-0.57-0.680.182.44
Tax %0.00%-357.14%-96.35%82.03%-12.77%16.67%0.00%0.00%0.00%0.00%0.00%
Net Profit-1.340.64-0.05-2.33-2.04-0.21-0.21-1.11-0.57-0.680.182.44
EPS in Rs-1.280.61-0.05-2.23-0.67-0.07-0.07-0.36-0.19-0.220.060.79
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%58%372%%
Compounded Profit Growth8%23%33%494%
Stock Price CAGR%67%70%234%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital10.434.174.174.174.1712.1712.1712.1712.1712.1712.1712.17
Reserves-16.18-11.26-10.61-10.66-13.00-15.04-15.24-15.46-16.56-17.13-17.81-17.63
Borrowings8.248.2010.698.928.100.000.430.004.364.895.586.79
Other Liabilities2.383.435.196.336.505.484.424.090.070.100.0712.04
Total Liabilities4.874.549.448.765.772.611.780.800.040.030.0113.37
Fixed Assets4.694.493.753.593.510.130.100.060.000.000.000.00
CWIP0.000.000.000.000.000.000.000.000.000.000.000.00
Investments0.000.000.000.000.000.000.000.000.000.000.000.00
Other Assets0.180.055.695.172.262.481.680.740.040.030.0113.37
Total Assets4.874.549.448.765.772.611.780.800.040.030.0113.37
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0.270.22-2.352.54-0.43-1.87-0.690.76-4.40-0.54-0.70-0.55
Cash from Investing Activity-0.090.000.570.040.003.450.00-3.040.060.000.000.00
Cash from Financing Activity-0.22-0.221.78-2.550.42-1.600.702.284.330.540.690.65
Net Cash Flow-0.040.000.000.03-0.01-0.020.010.00-0.020.000.000.10
Free Cash Flow0.180.22-1.782.58-0.431.58-0.690.76-4.34-0.54-0.70-0.55
CFO/OP-20%-773%-64%41%68%493%-380%1,222%257%226%-74%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days38.610.00196.54111.0021.98118.84519.950.00430.51
Inventory Days0.000.001,803.530.004.360.000.000.000.00
Days Payable1,511.5362.64
Cash Conversion Cycle38.610.00488.54111.00-36.29118.84519.950.00430.51
Working Capital Days-400.10-376.41155.16-54.81-39.40-159.69-847.08-16,023.5042.98
ROCE %-5.52%-61.67%12.69%-58.38%-117.65%116.54%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters70.16%70.16%70.16%70.16%70.16%70.16%70.16%70.18%70.18%70.18%70.18%70.18%
DIIs0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public29.81%29.81%29.80%29.81%29.82%29.82%29.81%29.81%29.81%29.79%29.81%29.81%
No. of Shareholders23,86723,78523,68423,59423,54423,46923,40823,34723,27123,18123,10623,027

Fundamentals

Market Cap₹ 96.6 Cr.
Current Price₹ 31.8
Stock P/E39.6
Book Value₹ -1.79
ROCE117 %
ROE%
Dividend Yield0.00 %
Face Value₹ 4.00
Compounded Sales Growth (TTM)%
Compounded Profit Growth (TTM)494%
Standalone figures.
Valuation
Market capRs 117 Cr
Enterprise valueRs 123 Cr
P/E (TTM)47.75x
Price to book-21.34x
Price to sales11.07x
EV / EBITDA40.66x
EV / EBIT40.66x
EV / sales11.70x
Earnings yield2.09%
P/E, 3-year average208.95x
P/B, 3-year average-5.58x
P/E, 5-year average208.95x
P/B, 5-year average-4.92x
Profitability
Operating margin (excl. other income)7.03%
Operating margin (incl. other income)7.03%
EBITDA margin28.77%
Pre-tax margin23.17%
Net profit margin23.17%
Net margin, latest quarter10.74%
ROE-3.24%
ROCE116.54%
ROA2.69%
ROE, 3-year average7.26%
ROCE, 3-year average116.54%
ROA, 3-year average-1675.29%
ROE, 5-year average11.46%
ROCE, 5-year average116.54%
ROA, 5-year average-1061.29%
ROIC (approx.)246.34%
Growth
Sales CAGR, 3 years372.22%
Sales CAGR, 5 years58.28%
Sales growth QoQ86.61%
Profit growth QoQ137.08%
Per share
EPS (TTM)Rs 0.80
EPS (latest year)Rs 0.06
EPS (latest quarter)Rs 0.69
EPS, 3-year averageRs -0.12
EPS, 5-year averageRs -0.16
Book value per shareRs -1.79
Sales per shareRs 3.46
Cash flow per shareRs -0.18
Free cash flow per shareRs -0.18
Efficiency
Asset turnover0.79x
Inventory turnover10.78x
Inventory days34 days
Debtor days431 days
Debtors turnover0.85x
Creditor days63 days
Cash conversion cycle431 days
Working capital days43 days
Leverage
Total debtRs 7 Cr
Cash and bankRs 0 Cr
Net debtRs 7 Cr
Debt to equity-1.24x
Net debt / EBITDA2.21x
Interest coverage5.14x
Owners' fund to total sources-40.84%
Debt to assets50.79%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs 1 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -1 Cr
FCFE (approx.: FCF + change in debt)Rs 1 Cr
Statement figures
Net sales (TTM)Rs 11 Cr
Net sales (latest year)Rs 11 Cr
Sales (latest quarter)Rs 20 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Operating profit (latest quarter)Rs 2 Cr
EBITDA (TTM)Rs 3 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 2 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 0 Cr
Net profit (latest quarter)Rs 2 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 9 Cr
Total expenditure (latest year)Rs 10 Cr
Total income (latest year)Rs 11 Cr
Share capitalRs 12 Cr
ReservesRs -18 Cr
Shareholders' fundsRs -5 Cr
Total assetsRs 13 Cr
ReceivablesRs 12 Cr
InventoryRs 1 Cr
Other liabilitiesRs 12 Cr
Shares outstanding (crore)3.04
Ownership
Promoter holding70.18% (+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).
PeriodGFSTEELSNifty 50Difference
1 week+23.9%-2.8% +26.7 pts
1 month+155.3%-6.8% +162.1 pts
3 months+275.0%-7.6% +282.6 pts
6 months+324.0%+0.4% +323.6 pts
1 year+1115.6%-9.9% +1125.5 pts
2 years+1431.6%-13.6% +1445.2 pts
3 years+454.9%+14.2% +440.8 pts
5 years+1318.1%+27.9% +1290.3 pts

Red flags

F-score 4 of 6
seriousNegative equity Shareholders' equity is negative
explainLow interest cover Interest cover 1.3x in 2026
lookAuditor change Auditor change 2026-06-30: Grand Foundry Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: ESM
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.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-25Sar Televenture LtdPromoter groupbuy4,271,452SAST Others
2026-09-24Rakesh Kumar BansalPromoter groupsell4,270,072SAST Others
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹20 Cr. Net profit ₹2 Cr +1506.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-11-22Extra Ordinary General Meeting
2024-08-02Annual General Meeting
2023-09-22Annual General Meeting
2022-09-23Annual General Meeting
2021-11-22 Annual General Meeting
2020-12-15 Annual General Meeting
2019-09-17 Annual General Meeting
DateTypeWhat it says
2026-10-01Board meeting outcomeOutcome of Board Meeting held on October 01, 2026.
2026-09-29General UpdatesGeneral Updates
2026-09-17Board meeting outcomeOutcome of Board Meeting held on September 17, 2026.
2026-09-12Board meeting outcomeOutcome of Board Meeting held on September 12, 2026.
2026-09-11Name ChangeThe name has been changed from
2026-08-13Shareholder meetingVoting results.
2026-08-13Shareholder meetingProceedings of Extraordinary General Meeting held on August 13, 2026
2026-07-20Shareholder meetingNotice of undefined to be held on August 13, 2026
2026-07-20Board meeting outcomeGrand Foundry Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09Change in ManagementChange in Management
2026-07-09Board meeting outcomeOutcome of Board Meeting held on July 09, 2026.
2026-07-08UpdatesD &A Financial Services ( P) Ltd has submitted to  the Exchange a copy of Post offer advertisement to the shareholders of the company.
2026-06-30Change in AuditorsChange in Auditors of the company.
2026-06-30Shareholder meetingVoting results.
2026-06-30Shareholder meetingProceedings of Annual General Meeting held on Jun 30, 2026
2026-06-08Public Announcement-Open OffD & A Financial Services (P) Ltd (Manager to the Offer) has submitted to the Exchange a copy of Advertisement under Regulation 18(7) in terms of SEBI ...
2026-06-05Open OfferD &A Financial Services ( P) Ltd has submitted to  the Exchange a copy of Recommendations of the Committee of Independent Directors (IDC) on the Open ...
2026-06-05Shareholder meetingNotice of Annual General Meeting to be held on Jun 30, 2026
2026-06-04Change in ManagementAppointment of Internal Auditor
2026-06-04Board meeting outcomeOutcome of Board Meeting held on Jun 04, 2026.
2026-06-01UpdatesD & A Financial Services (P) Ltd. has Submitted to the Exchange a copy of Letter of Offer.
2026-06-01CorrigendumD & A Financial Services (P) Limited (Manager to the Offer) has submitted to the Exchange a copy of Corrigendum to the Detailed Public Statement for t...
2026-05-15General UpdatesGeneral Updates
2026-05-14UpdatesDisclosure u/R31A(8) of SEBI (LODR) Regulation 2015.
2026-05-12UpdatesFinancials in Machine Readable Form .
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.
ESM: stage 2Less than 100 unique PAN traded in previous 30 days
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03