Godrej Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Estate and Property Development: 32.6% • Animal Feed: 19.0% • Chemicals: 15.9%
AI Sector View
AI GENERATEDDiversified
Diversified groups track the broad economy, which remains positive but not accelerating cleanly. GST collections rose 8% YoY (2026-07), the core industries Overall Index was 5.4% YoY (2026-07), and GDP annual growth was 7.8% (Jun/26), but e-way bills slowed to 6% YoY (2026-07). Flat sector FPI flows with net 3-month flow of INR 0 crore to 2026-08-31 argue for market weight rather than a tilt.
PROS
- Company has delivered good profit growth of 44.0% CAGR over last 5 years
- Promoters have been increasing their shareholding - up 7.5pp over 2 years
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 19.0% CAGR over last 5 years
- Working capital cycle has improved - days down from 228 to 120
CONS
- Company has a high debt-to-equity of 4.57x
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (110.3% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.76x)
- Company has a low return on capital employed of 9.3%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22307.50 | 101.37 | 201860.69 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1567.45 | 60.23 | 159547.55 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2483.00 | 34.05 | 73602.28 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4771.75 | 85.23 | 52417.67 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8541.10 | 55.49 | 43822.77 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1127.00 | 32.29 | 37963.11 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| AETHER | 1672.95 | 94.41 | 22204.70 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| DEEPAKNTR | 1587.10 | 27.64 | 21646.94 | 0.47 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| ATUL | 6244.55 | 23.11 | 18385.05 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 492.15 | 33.62 | 17851.59 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1320.45 | 17.00 | 16725.20 | 0.76 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| BASF | 3665.15 | 24.67 | 15864.84 | 0.68 | 360.29 | 162.22 | 4824.26 | 24.57 | 15.23 | 10.46 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,506 | 3,938 | 3,590 | 4,567 | 4,248 | 4,805 | 4,825 | 5,780 | 4,460 | 5,032 | 5,051 | 7,694 | 5,448 | |
| 4,264 | 3,672 | 3,311 | 4,109 | 3,914 | 4,230 | 4,228 | 5,186 | 4,063 | 4,898 | 4,507 | 6,527 | 5,752 | |
| Operating Profit | 242 | 266 | 279 | 458 | 334 | 575 | 597 | 593 | 397 | 134 | 544 | 1,167 | -304 |
| OPM % | 5.36% | 6.74% | 7.78% | 10.03% | 7.86% | 11.96% | 12.37% | 10.27% | 8.90% | 2.66% | 10.77% | 15.17% | -5.58% |
| 388 | 319 | 254 | 536 | 1,011 | 313 | 322 | 620 | 1,259 | 1,258 | 583 | 579 | 912 | |
| Interest | 303 | 333 | 348 | 369 | 433 | 477 | 505 | 542 | 576 | 584 | 626 | 684 | 745 |
| Depreciation | 86 | 89 | 96 | 100 | 101 | 108 | 111 | 110 | 114 | 121 | 126 | 141 | 133 |
| Profit before Tax | 241 | 162 | 90 | 524 | 812 | 303 | 303 | 560 | 966 | 687 | 375 | 921 | 732 |
| Tax % | 39.17% | 46.75% | 57.09% | 28.16% | 28.54% | -19.86% | 34.41% | 39.09% | 34.49% | 33.52% | 35.59% | 30.93% | 28.52% |
| Net Profit | 0 | 0 | 0 | 0 | 641 | 489 | 3,124 | 416 | 725 | 493 | 353 | 841 | 523 |
| 5.29 | 2.59 | 3.16 | -9.26 | 9.58 | 8.54 | 5.59 | 5.44 | 10.37 | 7.20 | 6.07 | 13.19 | 8.44 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,365 | 9,076 | 10,848 | 11,291 | 9,334 | 14,130 | 16,740 | 16,601 | 19,657 | 22,237 | 23,225 | |
| 7,724 | 9,424 | 10,159 | 10,480 | 9,020 | 13,087 | 15,230 | 15,356 | 17,558 | 19,995 | 21,684 | |
| Operating Profit | 641 | -348 | 690 | 811 | 313 | 1,043 | 1,510 | 1,245 | 2,099 | 2,242 | 1,541 |
| OPM % | 7.66% | -3.83% | 6.36% | 7.18% | 3.36% | 7.38% | 9.02% | 7.50% | 10.68% | 10.08% | 6.63% |
| 192 | 1,190 | 570 | 562 | 661 | 851 | 1,022 | 1,496 | 2,267 | 3,678 | 3,331 | |
| Interest | 402 | 413 | 508 | 491 | 469 | 623 | 943 | 1,352 | 1,957 | 2,470 | 2,639 |
| Depreciation | 148 | 175 | 163 | 234 | 242 | 274 | 305 | 371 | 430 | 501 | 521 |
| Profit before Tax | 626 | 597 | 1,161 | 909 | 616 | 1,282 | 1,681 | 964 | 2,353 | 3,393 | 2,714 |
| Tax % | 26.73% | 18.85% | 19.14% | 29.85% | 36.72% | 22.61% | 15.47% | 38.29% | 21.03% | 28.92% | 31.58% |
| Net Profit | 459 | 484 | 939 | 638 | 390 | 992 | 1,421 | 595 | 1,858 | 2,412 | 1,857 |
| EPS | 7.12 | 9.99 | 17.52 | 16.46 | 9.94 | 19.42 | 28.96 | 1.78 | 29.14 | 36.83 | — |
| Dividend Payout % | 22.94% | 17.42% | 6.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 19%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 23%
- 5 Years:
- 30%
- 3 Years:
- 8%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 15%
- 3 Years:
- 27%
- 1 Year:
- -7%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 17%
- 3 Years:
- 17%
- Last Year:
- 23%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 |
| Minority Interest | 1,475 | 1,357 | 2,212 | 3,562 | 5,817 | 5,954 | 6,317 | 7,118 | 11,196 | 12,008 |
| 3,155 | 3,293 | 4,303 | 5,745 | 7,511 | 7,084 | 7,940 | 7,955 | 10,104 | 11,124 | |
| 7,163 | 6,311 | 6,845 | 7,212 | 9,976 | 14,218 | 17,252 | 27,195 | 34,929 | 46,886 | |
| Trade Payables | 1,691 | 1,628 | 1,878 | 2,180 | 3,404 | 3,729 | 4,869 | 4,989 | 5,235 | 8,657 |
| 1,414 | 3,599 | 2,350 | 1,217 | 1,861 | 2,596 | 7,094 | 13,820 | 26,142 | 47,192 | |
| Total Liabilities | 14,931 | 16,222 | 17,622 | 19,950 | 28,604 | 33,616 | 43,506 | 61,110 | 87,639 | 1,25,901 |
| 3,160 | 3,166 | 3,682 | 3,879 | 4,025 | 4,646 | 4,950 | 6,050 | 6,374 | 6,900 | |
| Capital Work in Progress | 54 | 270 | 200 | 329 | 439 | 459 | 926 | 442 | 231 | 406 |
| 3,203 | 4,137 | 5,473 | 6,594 | 9,952 | 9,609 | 8,009 | 8,669 | 11,165 | 11,247 | |
| 5,020 | 4,819 | 3,410 | 3,188 | 6,187 | 7,719 | 13,977 | 24,443 | 34,723 | 59,872 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 1,500 | 1,275 | 1,636 | 2,010 | |
| Cash & Bank | 235 | 504 | 945 | 978 | 852 | 1,824 | 2,955 | 3,510 | 6,782 | 6,927 |
| 3,259 | 3,326 | 3,912 | 4,982 | 7,149 | 9,360 | 11,189 | 16,722 | 26,728 | 38,538 | |
| Total Assets | 14,931 | 16,222 | 17,622 | 19,950 | 28,604 | 33,616 | 43,506 | 61,110 | 87,639 | 1,25,901 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 819 | 1,849 | 1,397 | 522 | -563 | -1,386 | -4,409 | -4,284 | -5,151 | -8,855 | |
| Cash from Investing | -234 | -1,016 | -1,373 | -1,874 | -5,152 | 43 | 1,775 | -2,752 | -4,597 | 202 |
| Cash from Financing | -528 | -959 | 1,056 | 1,349 | 5,772 | 1,916 | 3,535 | 7,219 | 10,689 | 8,056 |
| -193 | -286 | 923 | -133 | -52 | 202 | 900 | 182 | 941 | -597 |
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
2026-09-11 - Godrej Industries Limited has informed the Exchange about approval of Key Information Document for issue of up to 75,000 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures aggregating up to Rs. 750 Crore on Private Placement Basis.
2026-08-27 - Please find attached a copy of intimation sent to Shareholders holding shares in physical form.
2026-08-24 - Please find enclosed Press release dated August 24, 2026.
2026-08-22 - Please find attached copies of Newspaper Advertisement published today in connection with completion of dispatch of Postal Ballot Notice dated August 13, 2026.
2026-08-21 - Godrej Industries Limited has informed the Exchange regarding Notice of Postal Ballot dated August 13, 2026
2026-08-14 - Godrej Industries Limited has submitted the Exchange a copy Srutinizers report of undefined held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-13 - Godrej Industries Limited has informed the Exchange regarding Proceedings of 38th Annual General Meeting held on August 13, 2026
2026-08-13 - Please find enclosed intimation for Change in Management of Company which is self-explanatory in nature.
2026-08-13 - Please find enclosed herewith Performance Update for the Quarter ended June 30, 2026
News
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