Goyal Salt Ltd.

•

goyalsaltltd.comBSE: -NSE: GOYALSALT

Market Cap₹ 184 Cr.

Current Price

High / Low₹ 200 / 97

Stock P/E16.2

Book Value₹ 30

Price to Book5.13

Dividend Yield0.00 %

ROCE29.0 %

ROE27.4 %

Face Value₹ 10

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ABOUT

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%

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PROS

Company has a healthy return on capital (ROCE) of 29.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
Operating margins have improved to 9.2% from 4.6%
Company comfortably covers its interest (30.2x coverage)
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (42.9% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.58x)
Equity base is being diluted - shares outstanding up 796.9%
Total debt has risen sharply - up 287.5% year on year
Free cash flow has been persistently negative
Stock is trading at 5.1x its book value

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

Peer comparison

Fast Moving Consumer GoodsFMCGConsumer Food

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

S.No.	Name
1.	NESTLEIND	1384.00	70.03	266878.70	0.87	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	416.25	41.58	140795.10	0.36	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	4970.00	45.97	119711.54	1.82	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	470.40	71.52	31039.12	0.26	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	1222.80	78.20	27237.66	0.49	60.58	—	2363.72	17.61	17.40	10.81
6.	MILKYMIST	293.30	177.78	22579.51	0.00	646.79	—	9734.46	—	13.79	14.77
7.	ZYDUSWELL	552.65	93.43	17583.15	0.22	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	DEVYANI	137.95	0.00	17008.40	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
9.	LTFOODS	437.85	23.74	15204.47	0.69	183.45	8.87	3151.83	27.92	19.77	11.26
10.	BIKAJI	548.50	53.20	13752.89	0.23	59.47	1.62	734.26	15.26	21.65	13.48
11.	MANORAMA	2063.45	52.81	13024.99	0.04	78.66	67.55	404.01	39.53	35.00	26.29
12.	GOYALSALT	102.60	16.18	183.66	0.00	—	—	—	—	28.98	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	60	66	118	118	130
	57	63	111	110	118
Operating Profit	3	3	7	7	12
OPM %	4.70%	4.49%	5.72%	6.34%	9.19%
	0	0	0	6	7
Interest	1	1	1	1	1
Depreciation	1	1	1	1	1
Profit before Tax	1	1	5	12	17
Tax %	26.78%	42.15%	27.02%	21.56%	23.45%
Net Profit	1	1	4	9	13
EPS	3.41	3.14	3.30	5.28	7.40
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 25%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 176%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -42%

RETURN ON EQUITY

10 Years:: —
5 Years:: 19%
3 Years:: 28%
Last Year:: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2	2	11	18	18
	9	10	5	24	38
	12	11	9	6	19
Trade Payables	3	4	3	2	3
	1	1	2	3	8
Total Liabilities	27	27	30	53	85
	5	6	6	10	12
Capital Work in Progress	0	0	0	4	29
	0	0	0	8	6
	5	5	5	5	14
	0	0	0	19	15
	17	16	19	7	9
Total Assets	27	27	30	53	85

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-4	5	-2	5	12
Cash from Investing	-1	-1	-2	-17	-27
Cash from Financing	5	-3	4	12	15
	-0	-0	0	0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	72.61	72.61	72.61	72.61	72.61
	1.02	0.49	0.46	0.46	0.46
	0.00	0.14	0.49	1.53	2.37
Government	0.00	0.00	0.00	0.00	0.00
	26.36	26.76	26.44	25.40	24.55

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for GOYALSALT

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Goyal Salt Ltd.

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Name

NESTLEIND

1384.00

70.03

266878.70

0.87

9586.80

1382.67

63781.80

1157.04

98.35

23.86

VBL

416.25

41.58

140795.10

0.36

1525.36

15.08

8650.57

20.77

20.73

27.04

BRITANNIA

4970.00

45.97

119711.54

1.82

593.38

14.08

4999.97

10.26

56.48

16.77

JUBLFOOD

470.40

71.52

31039.12

0.26

100.03

6.03

2569.65

13.66

25.56

19.77

HATSUN

1222.80

78.20

27237.66

0.49

60.58

—

2363.72

17.61

17.40

10.81

MILKYMIST

293.30

177.78

22579.51

0.00

646.79

—

9734.46

—

13.79

14.77

ZYDUSWELL

552.65

93.43

17583.15

0.22

118.90

-7.04

1437.00

67.54

4.42

16.82

DEVYANI

137.95

0.00

17008.40

0.00

171.04

7576.84

15805.16

1064.74

8.98

16.09

LTFOODS

437.85

23.74

15204.47

0.69

183.45

8.87

3151.83

27.92

19.77

11.26

BIKAJI

548.50

53.20

13752.89

0.23

59.47

1.62

734.26

15.26

21.65

13.48

MANORAMA

2063.45

52.81

13024.99

0.04

78.66

67.55

404.01

39.53

35.00

26.29

GOYALSALT

102.60

16.18

183.66

0.00

—

28.98

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

118

130

111

110

118

Operating Profit

OPM %

4.70%

4.49%

5.72%

6.34%

9.19%

Interest

Depreciation

Profit before Tax

Tax %

26.78%

42.15%

27.02%

21.56%

23.45%

Net Profit

EPS

3.41

3.14

3.30

5.28

7.40

Dividend Payout %

0.00%

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

Capital Work in Progress

Total Assets

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-2

Cash from Investing

-1

-2

-17

-27

Cash from Financing

-3

-0

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Mar 2026

72.61

1.02

0.49

0.46

0.00

0.14

0.49

1.53

2.37

Government

0.00

26.36

26.76

26.44

25.40

24.55

Goyal Salt Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Goyal Salt Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI