Goldstar Power Ltd.

•

goldstarpower.comBSE: -NSE: GOLDSTAR

Market Cap₹ 215 Cr.

Current Price

High / Low₹ 10 / 4

Stock P/E2104.4

Book Value₹ 1

Price to Book6.08

Dividend Yield0.00 %

ROCE11.5 %

ROE7.8 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Manufacturing: 68.2% • Trading: 31.8%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.34x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 93.4% versus prior year
A large part of profit comes from other income (59.7% of PBT)
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -11.6pp
Company has delivered a poor sales growth of 6.2% over past five years
Stock is trading at 6.1x its book value

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

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesBatteries

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

S.No.	Name
1.	EXIDEIND	410.90	37.49	34926.50	0.49	351.30	27.94	5528.38	17.75	9.04	11.25
2.	HBLENGINE	731.25	25.96	20269.88	0.41	109.14	-23.86	638.03	6.03	58.30	22.72
3.	ARE&M	832.55	16.53	15237.78	1.27	190.94	15.86	4214.54	23.92	15.73	9.63
4.	EVEREADY	349.05	14.23	2537.15	0.72	36.97	22.30	407.71	8.97	23.95	15.01
5.	NIPPOBATRY	324.00	0.00	243.00	1.16	2.01	96.10	116.14	-2.76	35.63	0.11
6.	GOLDSTAR	7.50	9.88	214.65	0.00	145.85	20327.17	5084.07	51546.38	11.52	3.05
7.	LAKHNNATNL	265.25	46.21	198.94	0.74	1.66	97.26	63.52	9.49	17.04	4.07

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8	15	7	26	10	18	5	4	7
	7	13	8	24	8	19	5	3	7
Operating Profit	0	2	-0	2	1	-1	0	1	-1
OPM %	5.56%	14.58%	-4.60%	8.08%	13.62%	-4.26%	2.18%	32.04%	-8.27%
	0	1	0	1	0	1	0	0	0
Interest	1	0	0	1	0	0	0	0	0
Depreciation	0	0	0	1	0	0	0	0	0
Profit before Tax	-0	2	-1	2	1	-0	-0	1	-0
Tax %	-0.00%	33.19%	-2.78%	31.58%	33.33%	61.54%	18.92%	14.63%	8.57%
Net Profit	-0	2	-1	1	1	-0	-0	1	-0
	0.00	0.06	-0.05	0.06	0.03	0.00	-0.01	0.04	-0.01

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
	40	56	43	36	36	42	43	50	50	48	34
	38	52	41	35	35	41	41	44	43	44	34
Operating Profit	2	4	2	2	1	1	2	6	7	5	0
OPM %	4.83%	6.43%	4.91%	4.90%	2.51%	2.27%	5.59%	11.87%	13.62%	9.44%	0.27%
	1	1	1	1	2	2	1	2	2	2	2
Interest	1	2	1	1	1	1	1	1	2	2	1
Depreciation	1	1	1	2	2	2	1	2	2	2	1
Profit before Tax	0	1	1	1	0	0	1	5	6	3	-0
Tax %	-4.84%	49.99%	42.47%	-64.96%	-21.55%	53.36%	33.03%	25.52%	26.47%	34.72%	640.00%
Net Profit	0	1	0	1	0	0	1	4	4	2	0
EPS	0.00	0.00	0.00	0.00	0.35	0.07	0.04	0.19	0.17	0.09	—
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:: 3%
5 Years:: 6%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 43%
3 Years:: 48%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 52%
3 Years:: 0%
1 Year:: -13%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 9%
3 Years:: 13%
Last Year:: 8%

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	1	1	11	11	11	11	11	19	24	24
	9	9	8	9	9	9	10	5	4	6
	12	11	8	8	9	12	18	13	16	9
Trade Payables	5	5	3	3	3	1	2	0	0	4
	6	7	6	4	4	3	6	7	10	8
Total Liabilities	33	33	35	34	35	35	46	44	54	51
	14	13	12	13	12	11	10	15	18	17
Capital Work in Progress	0	0	1	0	0	0	7	0	0	0
	0	0	0	0	0	0	0	0	8	10
	7	6	6	12	14	11	13	13	12	8
	0	0	0	0	0	0	0	0	12	14
Cash & Bank	1	0	0	0	1	3	0	0	0	0
	11	14	16	9	8	11	16	17	5	3
Total Assets	33	33	35	34	35	35	46	44	54	51

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
	0	2	-2	3	1	0	-0	7	8	9
Cash from Investing	1	-0	-1	-2	0	1	-7	-1	-11	-0
Cash from Financing	-2	-2	3	-1	0	1	6	-6	3	-9
	-1	0	-0	-0	1	2	-3	0	0	0

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

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.91	72.91	72.91	72.91	72.91	61.32	61.32	61.32	61.32
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.09	27.09	27.09	27.09	27.09	38.68	38.68	38.68	38.68

Documents

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

No announcements filed.

News

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