Grand Foundry Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 38.5%
- Operating margins have improved to 7.1% from -415.6%
- Company has delivered good sales growth of 58.1% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.68x)
CONS
- Net worth is negative - accumulated losses have eroded equity
- Operating cash flow has been negative in recent years
- Company has a low return on equity of 0.0% over last 3 years
- Interest coverage is weak at 1.3x - earnings barely cover interest
- Free cash flow has been persistently negative
- Effective tax rate is unusually low at 0.0% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1309.00 | 12.92 | 320109.92 | 0.54 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 183.65 | 20.78 | 229258.67 | 2.18 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 196.00 | 18.95 | 80958.30 | 1.20 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2646.15 | 30.23 | 69802.96 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 737.80 | 18.72 | 60825.68 | 0.54 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2151.00 | 48.59 | 59724.32 | 0.40 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1081.75 | 26.88 | 30195.09 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 310.70 | 30.41 | 19869.52 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2666.75 | 43.18 | 18691.78 | 0.38 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 506.95 | 15.81 | 17863.97 | 0.39 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 239.75 | 20.01 | 16140.90 | 0.42 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| GFSTEELS | 13.32 | 16.62 | 40.53 | 0.00 | 2.11 | 1507.33 | 19.65 | — | 115.57 | 11.26 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 20 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 18 | |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 1 | 2 |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | 10.26% | 10.57% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 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 |
| Profit before Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 1 | 2 |
| 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% | 0.00% |
| Net Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 1 | 2 |
| -0.02 | -0.07 | -0.05 | -0.04 | -0.07 | -0.05 | -0.05 | -0.04 | -0.05 | -0.11 | -0.08 | 0.29 | 0.69 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 13 | 26 | 7 | 1 | 0 | 0 | 0 | 0 | 11 | 30 | |
| 2 | 15 | 27 | 10 | 1 | 0 | 1 | 0 | 0 | 10 | 27 | |
| Operating Profit | 0 | -2 | -1 | -3 | -0 | -0 | -0 | -0 | -0 | 1 | 3 |
| OPM % | 14.75% | -14.95% | -4.16% | -39.74% | -13.04% | — | -417.29% | — | — | 7.07% | 9.50% |
| 0 | 1 | 0 | 0 | -0 | 0 | -1 | -0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 0 | -1 | -1 | -2 | -0 | -0 | -1 | -1 | -1 | 0 | 2 |
| Tax % | -370.80% | 96.33% | -81.81% | 12.89% | -17.50% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% |
| Net Profit | 1 | -0 | -2 | -2 | -0 | -0 | -1 | -1 | -1 | 0 | 2 |
| EPS | 0.00 | 0.00 | 0.00 | -1.96 | -0.20 | -0.07 | -0.36 | -0.19 | -0.22 | 0.06 | — |
| 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:
- 17%
- 5 Years:
- 58%
- 3 Years:
- 370%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- 50%
- 3 Years:
- 30%
- 1 Year:
- 54%
RETURN ON EQUITY
- 10 Years:
- 0%
- 5 Years:
- 0%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| -11 | -11 | -13 | -15 | -15 | -15 | -17 | -17 | -18 | -18 | |
| 11 | 9 | 10 | 0 | 1 | 0 | 4 | 5 | 6 | 7 | |
| Trade Payables | 4 | 6 | 4 | 5 | 4 | 2 | 0 | 0 | 0 | 12 |
| 2 | -0 | 1 | -0 | 0 | 2 | 0 | 0 | 0 | 0 | |
| Total Liabilities | 9 | 8 | 6 | 3 | 2 | 1 | 0 | 0 | 0 | 13 |
| 4 | 4 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | |
| 1 | 4 | 2 | 2 | 2 | 1 | 0 | 0 | 0 | 0 | |
| Total Assets | 9 | 8 | 6 | 3 | 2 | 1 | 0 | 0 | 0 | 13 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3 | 0 | -1 | -2 | -1 | 1 | -4 | -1 | -1 | -1 | |
| Cash from Investing | 1 | 0 | 0 | 3 | 0 | -3 | 0 | 0 | 0 | 0 |
| Cash from Financing | 2 | -3 | 0 | -2 | 1 | 2 | 4 | 1 | 1 | 1 |
| 0 | 0 | -0 | -0 | 0 | -0 | -0 | 0 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.62 | -0.05 | -2.24 | -0.67 | -0.07 | -0.07 | -0.36 | -0.19 | -0.22 | 0.06 |
| Book Value (₹) | -6.18 | -6.22 | -8.46 | -0.94 | -1.01 | -1.08 | -1.44 | -1.63 | -1.85 | -1.79 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.78 | 0.04 | -2.16 | -0.66 | -0.06 | -0.06 | -0.36 | -0.19 | -0.22 | 0.06 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 20.02% | -14.52% | -3.63% | -32.84% | -13.04% | 0.00% | -415.61% | 0.00% | 0.00% | 7.07% |
| Net Margin % | 26.09% | -0.38% | -9.12% | -29.68% | -19.40% | 0.00% | -1092.98% | 0.00% | 0.00% | 1.72% |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| ROCE % | 12.38% | -34.51% | -63.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 115.57% |
| 9.21% | -0.58% | -33.91% | -48.88% | -9.46% | -16.22% | -260.90% | -1674.07% | -4003.53% | 2.71% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 98 | 74 | 39 | 100 | 642 | 0 | 0 | 0 | 0 | 431 |
| Inventory Days | 622 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 29 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 4548 | 2056 | 0 | 232 |
| 720 | 74 | 44 | 100 | 642 | 0 | -4548 | -2056 | 0 | 228 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | -1.65x | -1.37x | -1.09x | -0.01x | -0.23x | 0.00x | -0.99x | -0.99x | -0.99x | -1.25x |
| Interest Coverage (x) | 1.71x | -5.07x | -3.99x | -107.28x | -866.92x | -419.40x | -5.11x | -0.65x | -0.76x | 1.32x |
| 1.22x | 0.70x | 0.48x | 0.45x | 0.41x | 0.18x | 0.01x | 0.01x | 0.00x | 1.11x | |
| GROWTH | ||||||||||
| Revenue Growth % | 10.13% | 431.73% | 94.82% | -73.09% | -84.50% | -100.00% | 0.00% | -100.00% | 0.00% | 0.00% |
| Operating Profit Growth % | 154.34% | -485.78% | 51.24% | -143.15% | 93.85% | -26.74% | -138.71% | 59.06% | -70.21% | 353.74% |
| Net Profit Growth % | 148.22% | -107.80% | -4539.54% | 12.39% | 89.87% | -1.59% | -426.21% | 48.92% | -20.46% | 126.64% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 48.91% | -20.46% | 126.64% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 184.23x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -6.46x | -4.81x | -6.13x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -214.26x | -111.44x | 53.92x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-13 - Grand Foundry Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-13 - Grand Foundry Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on August 13, 2026
2026-07-21 - Grand Foundry Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-20 - Grand Foundry Limited has informed the Exchange regarding Notice of undefined to be held on August 13, 2026
2026-07-20 - Grand Foundry Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09 - Grand Foundry Limited has informed the Exchange about change in Management
2026-07-09 - Grand Foundry Limited has informed the Exchange regarding Outcome of Board Meeting held on July 09, 2026.
2026-07-08 - D &A Financial Services ( P) Ltd has submitted to the Exchange a copy of Post offer advertisement to the shareholders of the company.
2026-07-06 - Grand Foundry Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
News
Recent coverage and analyst commentary for GFSTEELS
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Grand Foundry Ltd.
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