Ganges Securities Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Tea: 79.2% • Investments: 20.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Asset quality is healthy - gross NPA of just 0.0%
- Company has consistently been profitable over the last 5 years
CONS
- Company has a low return on capital employed of 1.0%
- Company has a low return on equity of 0.7% over last 3 years
- Company has delivered a poor profit growth of -22.8% over past five years
- Operating margins have contracted to 12.3% from 32.9%
- Company has delivered a poor sales growth of 0.7% over past five years
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1917.30 | 30.28 | 307163.22 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 546.65 | 22.13 | 46422.91 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.75 | 10.74 | 28650.15 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13000.05 | 13.35 | 26301.84 | 0.66 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 266.10 | 22.71 | 25602.92 | 0.08 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13002.55 | 53.35 | 14860.05 | 1.69 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11435.95 | 92.40 | 12693.48 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 124.75 | 11.48 | 11938.08 | 2.61 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 437.25 | 19.95 | 9711.49 | 2.55 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 256.95 | 161.25 | 8857.93 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2282.95 | 7.87 | 7326.12 | 1.82 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| GANGESSECU | 115.11 | 39.97 | 115.15 | 0.00 | 1.22 | 18.51 | 7.70 | 21.13 | 0.76 | 10.16 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 13 | 13 | 3 | 8 | 15 | 13 | 2 | 6 | 16 | 11 | 3 | 8 | |
| 6 | 4 | 12 | 7 | 6 | 6 | 12 | 8 | 5 | 11 | 9 | 7 | 7 | |
| Operating Profit | -0 | 9 | 1 | -5 | 1 | 8 | 1 | -6 | 1 | 5 | 2 | -4 | 1 |
| OPM % | -5.43% | 66.24% | 10.10% | -171.59% | 16.58% | 53.43% | 6.72% | -283.00% | 13.84% | 31.91% | 19.84% | -120.67% | 10.16% |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| -0 | 9 | 2 | -4 | 1 | 9 | 1 | -5 | 1 | 5 | 2 | -4 | 1 | |
| Tax % | -52.94% | 24.32% | 23.43% | 6.96% | 26.90% | 18.74% | 28.57% | 31.42% | 21.97% | 39.25% | 34.09% | 26.16% | 16.23% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 7 | 1 | -4 | 1 | 3 | 1 | -3 | 1 |
| -1 | 7 | 1 | -4 | 1 | 7 | 1 | -4 | 1 | 3 | 1 | -3 | 0 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 28 | 32 | 32 | 32 | 35 | 34 | 41 | 35 | 38 | 36 | 37 | |
| 21 | 20 | 22 | 23 | 23 | 26 | 30 | 29 | 31 | 32 | 33 | |
| Operating Profit | 7 | 12 | 10 | 9 | 12 | 8 | 11 | 6 | 7 | 4 | 4 |
| OPM % | 24.42% | 36.86% | 30.08% | 29.03% | 34.40% | 24.14% | 27.88% | 17.47% | 17.39% | 12.34% | 11.07% |
| 1 | 1 | 0 | 0 | 1 | 2 | 2 | 1 | 0 | 1 | 1 | |
| Interest | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 7 | 11 | 9 | 9 | 12 | 9 | 13 | 6 | 6 | 5 | 5 |
| Tax % | 11.34% | 17.74% | 13.90% | 18.01% | 16.32% | 11.95% | 23.06% | 41.13% | 10.71% | 42.03% | 39.90% |
| Net Profit | 6 | 9 | 8 | 7 | 10 | 8 | 10 | 3 | 5 | 3 | 3 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 9.79 | 7.99 | 9.74 | 3.48 | 5.06 | 2.69 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 1%
- 3 Years:
- -4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -23%
- 3 Years:
- -35%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- -2%
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 1%
- 3 Years:
- 1%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
| 75 | 84 | 304 | 198 | 328 | 614 | 441 | 535 | 666 | 530 | |
| 10 | 5 | 2 | 3 | 2 | 3 | 0 | 0 | 0 | 0 | |
| Trade Payables | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 |
| 6 | 6 | 13 | 14 | 7 | 16 | 9 | 27 | 56 | 41 | |
| Total Liabilities | 101 | 105 | 330 | 225 | 348 | 643 | 461 | 573 | 733 | 582 |
| 11 | 11 | 11 | 12 | 12 | 12 | 12 | 13 | 13 | 15 | |
| Capital Work in Progress | 1 | 1 | 1 | 1 | 0 | 1 | 2 | 1 | 1 | 1 |
| 36 | 36 | 248 | 135 | 256 | 554 | 383 | 493 | 667 | 536 | |
| 1 | 2 | 3 | 3 | 2 | 3 | 2 | 3 | 2 | 2 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | |
| Cash & Bank | 17 | 21 | 23 | 31 | 41 | 27 | 35 | 38 | 35 | 6 |
| 35 | 35 | 45 | 44 | 37 | 46 | 26 | 23 | 14 | 21 | |
| Total Assets | 101 | 105 | 330 | 225 | 348 | 643 | 461 | 573 | 733 | 582 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -13 | 5 | 8 | 12 | 7 | 18 | 25 | -5 | 21 | 22 | |
| Cash from Investing | 5 | 7 | -1 | -1 | -3 | -22 | -21 | -1 | -19 | -24 |
| Cash from Financing | 10 | -6 | -5 | -0 | -0 | -0 | -3 | -0 | -0 | -0 |
| 2 | 4 | 0 | 9 | 3 | -6 | -1 | -6 | 2 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - The Exchange has sought clarification from Ganges Securities Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-08-26 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Ganges Securities Limited has informed the Exchange about General Updates
2026-08-13 - Ganges Securities Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11 - Ganges Securities Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-11 - Ganges Securities Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026
2026-07-21 - Ganges Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-20 - Ganges Securities Limited has informed the Exchange regarding 'Disclosure under Requlation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
News
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