Gretex Industries Ltd.
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ABOUT
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 32.3%
- Promoters have been increasing their shareholding - up 12.0pp over 2 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.0%
- Company has delivered good sales growth of 42.1% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
CONS
- A large part of profit comes from other income (142.8% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.86x)
- Operating cash flow has been negative in recent years
- Equity base is being diluted - shares outstanding up 268.2%
- Valuation is stretched - P/E of 231.4 is well above its own 5-year median (116.7)
- Effective tax rate is unusually low at -16.9% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 3057.10 | 55.59 | 413846.54 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| AEGISLOG | 1353.10 | 37.96 | 47493.81 | 0.64 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3830.15 | 94.94 | 45310.84 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| PREMIERENE | 974.55 | 26.57 | 44239.84 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| REDINGTON | 393.65 | 18.09 | 30774.55 | 1.52 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.95 | 61.70 | 15354.11 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 20.87 | 14.58 |
| LLOYDSENT | 69.79 | 94.88 | 10653.81 | 0.21 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 751.25 | 76.16 | 9468.39 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 61.96 | 20.78 | 9294.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1819.35 | 63.14 | 7918.37 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| EBGNG | 683.00 | 54.67 | 7786.99 | 0.00 | 28.93 | 56.21 | 412.46 | 32.08 | 20.58 | 11.97 |
| GRETEX | 215.00 | 231.40 | 340.69 | 0.00 | 1.29 | 18.51 | 16.19 | 62.73 | 3.58 | 4.69 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|
| 10 | 9 | 10 | 14 | 15 | 16 | |
| 10 | 9 | 10 | 13 | 14 | 15 | |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 1 |
| OPM % | 2.26% | 3.63% | 4.52% | 2.74% | 1.16% | 4.69% |
| 0 | 1 | 1 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 0 | 1 | 1 | 1 | 1 | 1 |
| Tax % | 26.09% | 24.68% | -26.74% | 31.67% | 21.60% | 10.79% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 |
| 0.20 | 1.25 | 0.61 | 0.22 | 0.52 | 1.09 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 10 | 13 | 25 | 35 | 37 | 56 | 54 | |
| 9 | 13 | 24 | 34 | 36 | 55 | 52 | |
| Operating Profit | 0 | 0 | 1 | 1 | 1 | 1 | 2 |
| OPM % | 3.48% | 1.27% | 3.52% | 2.03% | 1.84% | 1.01% | 3.23% |
| 0 | 0 | 0 | 13 | 3 | 2 | 4 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Profit before Tax | 0 | 0 | 1 | 13 | 3 | 1 | 4 |
| Tax % | 32.14% | -46.88% | 24.12% | 25.42% | -1.23% | -16.88% | 9.27% |
| Net Profit | 0 | 1 | 1 | 10 | 3 | 2 | 4 |
| EPS | -0.76 | 1.28 | 1.53 | 23.62 | 1.95 | 0.95 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 42%
- 3 Years:
- 30%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 32%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 82%
- 3 Years:
- 73%
- 1 Year:
- 13%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 23%
- 3 Years:
- 29%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 15 | 16 |
| Minority Interest | 0 | 0 | 0 | 1 | 4 | 3 |
| -1 | -0 | 0 | 19 | 12 | 29 | |
| 0 | 1 | 4 | 1 | 8 | 0 | |
| Trade Payables | 1 | 1 | 0 | 1 | 4 | 10 |
| 0 | 0 | 1 | 4 | 1 | 9 | |
| Total Liabilities | 4 | 6 | 11 | 31 | 44 | 66 |
| 0 | 0 | 1 | 1 | 1 | 2 | |
| 0 | 0 | 0 | 13 | 3 | 8 | |
| 2 | 4 | 4 | 5 | 12 | 16 | |
| 0 | 0 | 0 | 3 | 5 | 3 | |
| Cash & Bank | 1 | 1 | 0 | 1 | 1 | 2 |
| 2 | 2 | 6 | 8 | 22 | 35 | |
| Total Assets | 4 | 6 | 11 | 31 | 44 | 66 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -0 | -0 | 0 | -8 | -7 | 3 | |
| Cash from Investing | 0 | 0 | -1 | 9 | -2 | -17 |
| Cash from Financing | -0 | -0 | -0 | -0 | 8 | 16 |
| -0 | 0 | -0 | 1 | -1 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for GRETEX
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Gretex Industries Ltd.
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