āagman

Not investment advice. Data and computed figures, for information only.

GHCL Ltd

NSE: GHCL
₹385.35
+₹1.70 (+0.44%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹3,868 Cr
CMP
₹385.35
52-wk High / Low
₹667 / 381
P/E
8.5
P/B
1.1
Book Value
₹386.0
Div Yield
2.86%
ROCE
17.0%
ROE
13.0%
Face Value
₹10
D/E
0.02

Price−39.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹668
√(22.5 × EPS × book value per share)
ROIC
11.7%
vs 7.5% sector median
Cash flow to profit
1.46
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−566
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
9.9%
ROE × earnings retention ratio
ROE stability
5.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.04FII −2.22DII +0.63
Latest quarter vs the previous one
Cash-accrual divergence
−5.1%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 93.9% since FY2016 (1365 to 83)
+Promoter holding rose by 0.8pp over the last year
+PE of 8.5x is below the sector median of 36.2x
Watch-outs
−Price trades below its 200-day moving average (0.8x)
−Price is 42.2% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 31 Mar 2026
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,1201,019805798823830793779781796721757791
Expenses771719592648639614582549563599564598615
Operating Profit349299213150184217211230218197157159176
OPM %31.2%29.3%26.5%18.8%22.4%26.1%26.6%29.5%27.9%24.7%21.8%21.0%22.3%
Other Income−32301114171817292327171614
Interest10876544442232
Depreciation27242626262728282827282927
Profit before tax309497191133170203196227209195145143160
Net Profit227426143100125151155168150144107106116
EPS (₹)23.7044.6014.9410.4313.0415.7316.1717.5915.6915.0011.1111.5312.58

Profit & Loss

As of 31 Mar 2026
Consolidated · ₹ Cr · 12 years
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales2,3562,5312,7842,9193,3413,3052,4913,0524,5513,4473,1833,064
Expenses1,8281,9012,1032,3132,5822,5761,8862,3223,0482,5962,3062,375
Operating Profit5286296816077597296057301,503851877690
OPM %22.4%24.9%24.5%20.8%22.7%22.1%24.3%23.9%33.0%24.7%27.6%22.5%
Other Income−15−337381616182111192708873
Interest171165137127127120745139271710
Depreciation8582861101171311118794102112111
Profit before tax2573804954075314954378021,489991836642
Net Profit1822583803563513973266501,142794624472
EPS (₹)18.1925.7838.0436.5935.7741.7534.3368.14119.4182.9465.1851.39

Balance Sheet

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital10010099979895959596969692
Reserves6709361,2471,5131,8272,0542,3892,8523,8602,8833,3933,460
Borrowings1,3241,3651,4631,3221,3021,25478278836121011983
Other Liabilities7585486946957677667121,261816581578665
Total Liabilities2,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,300
Fixed Assets1,9342,0492,4102,5022,5912,6642,6752,4741,7311,8421,8441,821
CWIP73726741171228121310955256450
Investments21591012915173804206511,042
Other Assets9098481,0591,0431,2751,3751,2072,2922,9141,4531,435987
Total Assets2,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,300

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity416509458590530624621643856797638687
Cash from Investing Activity−127−249−375−279−271−206−109−337−409−534−358−291
Cash from Financing Activity−296−252−113−308−258−339−569−98−530−338−230−451
Net Cash Flow−88−302180−57209−83−7550−55

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.025.024.019.021.019.015.019.036.021.024.017.0
ROE %———————————13.0
EPS (₹)18.1925.7838.0436.5935.7741.7534.3368.14119.4182.9465.1851.39
Book Value (₹)———————————386.0
Face Value (₹)———————————10
P/E———————————8.5
Div Yield %———————————2.86
NPM %7.810.213.512.010.512.013.019.924.521.419.115.0
OPM %22.025.024.021.023.022.024.024.033.025.028.022.0
D/E1.721.321.090.820.680.580.310.270.090.070.030.02
P/B———————————1.1

Growth

As of 27 Sep 2026
Compounded sales growth
10 years+2.0%
5 years+4.0%
3 years−12.0%
TTM−4.0%
Compounded profit growth
10 years+6.0%
5 years+7.0%
3 years−25.0%
TTM−24.0%
Stock price CAGR
10 years+6.0%
5 years+1.0%
3 years−12.0%
Last year−28.0%
Return on equity
10 years21.0%
5 years21.0%
3 years16.0%
Last year13.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters18.59%18.59%18.98%18.87%19.18%19.24%19.07%19.05%19.04%19.03%19.87%19.83%
FIIs18.26%18.26%17.30%16.12%14.71%15.96%15.42%25.09%24.99%26.06%24.66%22.44%
DIIs7.47%7.47%13.73%16.10%20.52%21.04%19.08%10.79%8.29%10.09%10.57%11.20%
Government0.00%0.00%0.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public55.68%55.68%49.28%48.91%45.59%43.76%46.43%45.06%47.67%44.79%44.89%46.52%
No. of shareholders59,35659,35665,07558,86864,35566,21769,04493,0091,12,8591,08,63094,81998,031
Change since Jun 2023 (pp)
Promoters +1.24FIIs +4.18DIIs +3.73Public −9.16

Documents

As of 27 Sep 2026
Announcements
Closure of Trading WindowIntimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Declaration As "Preferred Bidder" For Composite License Of The Kadaya Block Situated At Village Kadaya, Taluka Maliya Hatina, District Junagadh Of Gujarat State.Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Commencement Of Commercial Production Of "Vacuum Salt"Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 -Intimation W.R.T. Order Passed By Hon'Ble National Green Tribunal (NGT) Western Zone Bench, PuneAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 18 Jun 2026
18 Jun 2026DIVIDENDDividend - Rs 12 Per Share—
17 Jul 2025DIVIDENDDividend - Rs 12 Per Share—
1 Jul 2024DIVIDENDDividend - Rs 12 Per Share—
23 Jun 2023DIVIDENDAnnual General Meeting/Dividend - Rs 17.50 Per Share—
6 Apr 2023DEMERGERDemerger—
22 Jun 2022DIVIDENDAnnual General Meeting/Dividend - Rs 10 Per Share/Special Dividend- Rs 5 Per Share—
10 Jun 2021DIVIDEND Annual General Meeting/Dividend - Rs 5.50 Per Share—
24 Mar 2020DIVIDEND Interim Dividend - Rs 3 Per Share—
22 May 2019DIVIDEND Annual General Meeting/ Dividend - Rs 5 Per Share—
23 May 2018DIVIDEND Annual General Meeting/Dividend- Rs 5 Per Share—
21 Jun 2017DIVIDEND Annual General Meetin/Dividend - Rs 3.50 Per Share (Purpose Revised)—
9 Feb 2017DIVIDEND Interim Dividend Rs 1.50 Per Share—
11 Jul 2016DIVIDEND Dividend - Rs 3.50/- Per Share—
15 Jul 2015DIVIDENDAnnual General Meeting/Dividend - Rs 2.20/- Per Share—
7 Aug 2014DIVIDENDAnnual General Meeting/Dividend Rs.2/- Per Share—
12 Sep 2013DIVIDENDAnnual General Meeting/Dividend Rs 2/- Per Share—
6 Sep 2012DIVIDENDAnnual General Meeting/Dividend Rs 2 Per Share—
24 Aug 2011DIVIDENDDividend-Rs.2/- Per Share—
31 Aug 2010DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman