Gokul Refoils and Solvent Ltd.

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gokulgroup.comBSE: 532980NSE: GOKUL

Market Cap₹ 422 Cr.

Current Price

High / Low₹ 47 / 31

Stock P/E20.4

Book Value₹ 37

Price to Book1.23

Dividend Yield0.00 %

ROCE8.7 %

ROE4.4 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Agro Base Commodity: 100.0%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Latest quarter profit grew 57.6% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.04x)
Company generates healthy free cash flow
Company converts assets efficiently - asset turnover of 4.6x

CONS

A large part of profit comes from other income (143.5% of PBT)
Company has a low return on equity of 4.2% over last 3 years
Company has a low return on capital employed of 7.4%
Interest coverage is weak at 1.6x - earnings barely cover interest
Company has delivered a poor profit growth of -5.6% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGEdible Oil

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MARICO	810.25	55.80	105347.77	0.49	652.00	27.10	3957.00	21.42	52.25	20.70
2.	PATANJALI	341.25	18.85	37131.71	1.47	3357.34	1761.48	113374.51	1173.91	10.61	4.79
3.	AWL	187.65	21.10	24388.47	0.53	351.39	47.67	20048.14	17.52	18.52	3.56
4.	GOKULAGRO	230.50	16.18	6801.75	0.00	122.63	71.26	5281.95	7.26	37.07	3.85
5.	SUNDROP	667.00	89.96	2514.38	0.00	12.13	181.44	428.08	15.22	2.01	5.84
6.	BCLIND	35.59	9.01	1050.49	0.98	35.52	6.10	623.42	-24.00	13.60	9.80
7.	MODINATUR	350.55	8.92	466.46	0.00	12.50	19.14	155.61	0.37	23.80	14.25
8.	GOKUL	42.66	20.40	422.31	0.00	6.08	57.63	1016.75	9.75	8.66	1.63
9.	KRITINUT	83.74	12.59	419.57	3.58	8.92	-6.03	247.08	7.88	20.30	4.72
10.	VIJSOLX	647.80	8.70	207.38	0.00	5.58	428.60	622.50	35.20	7.35	1.40
11.	MKPL	4.02	32.13	150.90	0.00	1.38	-60.63	115.16	0.18	13.46	2.18
12.	ROML	42.18	3.72	67.44	0.00	1.11	-21.06	35.56	5.82	15.26	5.16

Detailed Comparison with:

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
	588	927	807	697	788	856	1,007	860	926	1,063	1,076	1,056	1,017
	577	909	794	693	780	844	1,000	851	913	1,054	1,065	1,052	1,012
Operating Profit	11	18	13	4	8	12	7	9	14	8	11	3	5
OPM %	1.92%	1.93%	1.58%	0.61%	1.07%	1.35%	0.70%	1.09%	1.50%	0.79%	0.99%	0.33%	0.44%
	3	-16	3	10	5	5	7	10	3	8	7	14	3
Interest	8	6	10	9	8	9	9	8	9	10	7	7	9
Depreciation	2	3	3	3	3	2	4	3	3	3	3	3	3
Profit before Tax	3	-6	3	2	3	6	1	9	5	4	7	8	8
Tax %	25.37%	25.63%	38.60%	15.15%	23.75%	19.53%	60.81%	24.11%	27.31%	20.00%	27.98%	23.43%	23.82%
Net Profit	0	0	0	0	2	5	1	7	4	4	5	6	6
	0.26	-0.47	0.20	0.20	0.25	0.52	0.06	0.67	0.39	0.36	0.53	0.59	0.61

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	3,419	1,856	1,987	2,198	2,161	2,465	3,053	3,137	3,020	3,511	4,211
	3,365	1,826	1,971	2,164	2,123	2,425	3,014	3,081	2,974	3,474	4,184
Operating Profit	53	30	17	33	38	40	39	56	46	36	27
OPM %	1.56%	1.64%	0.84%	1.52%	1.75%	1.62%	1.29%	1.78%	1.53%	1.04%	0.64%
	20	11	34	23	23	12	21	10	0	28	33
Interest	42	32	33	32	29	20	18	27	33	33	34
Depreciation	14	4	5	5	6	5	6	8	10	12	11
Profit before Tax	17	5	13	19	27	27	37	31	3	20	27
Tax %	34.21%	52.52%	29.99%	35.38%	25.56%	23.94%	27.80%	23.07%	32.10%	25.30%	24.21%
Net Profit	11	2	9	12	20	20	27	24	2	15	21
EPS	0.00	0.00	0.00	0.92	0.00	2.07	2.68	2.44	0.18	1.48	—
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%
5 Years:: 10%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 5%
5 Years:: -6%
3 Years:: -18%

STOCK PRICE CAGR

10 Years:: 12%
5 Years:: 9%
3 Years:: 9%
1 Year:: 7%

RETURN ON EQUITY

10 Years:: 5%
5 Years:: 6%
3 Years:: 4%
Last Year:: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	26	26	26	26	26	20	20	20	20	20
	251	254	247	259	279	258	284	308	310	325
	130	695	309	263	232	283	367	422	279	277
Trade Payables	601	46	35	26	21	91	146	64	115	125
	51	44	40	34	42	59	31	29	17	25
Total Liabilities	1,059	1,066	656	609	599	710	848	844	742	771
	253	231	69	68	73	68	70	96	95	100
Capital Work in Progress	1	3	5	3	2	2	2	2	7	0
	30	68	36	42	39	24	33	74	60	43
	272	294	195	141	162	280	338	246	211	220
	0	0	0	0	0	0	0	0	130	160
Cash & Bank	138	136	75	58	68	66	58	116	73	58
	365	333	277	297	256	269	347	310	166	190
Total Assets	1,059	1,066	656	609	599	710	848	844	742	771

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	396	36	123	79	70	13	-61	101	75	18
Cash from Investing	53	-28	280	-0	8	9	-7	-22	17	-5
Cash from Financing	-504	-28	-417	-78	-62	-16	66	27	-123	-35
	-62	-15	-27	-6	11	-0	-13	97	-51	-23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.62	74.62	74.62	72.81	72.81	72.81	72.81	73.54	73.60
	0.23	0.30	0.31	0.29	0.29	0.29	0.28	0.27	0.78
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.01
	25.14	25.08	25.06	26.90	26.90	26.90	26.90	26.19	25.61

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Cessation

2026-09-10 - Gokul Refoils and Solvent Limited has informed the Exchange regarding Cessation of Ms Chetna Vyas as Non- Executive Independent Director of the company w.e.f. September 09, 2026.

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Gokul Refoils and Solvent Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Shareholders meeting

2026-09-03 - Gokul Refoils and Solvent Limited has informed the Exchange regarding Notice of undefined to be held on September 29, 2026

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Gokul Refoils and Solvent Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Change in Management

2026-08-13 - Gokul Refoils and Solvent Limited has informed the Exchange about change in Management

2026-08-13

Change in Director(s)

2026-08-13 - Gokul Refoils and Solvent Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Gokul Refoils and Solvent Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-07

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - Gokul Refoils and Solvent Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-03

Shareholders meeting

2026-07-03 - Gokul Refoils and Solvent Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

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