Gretex Industries Ltd.

•

gretexindustries.comBSE: -NSE: GRETEX

Market Cap₹ 341 Cr.

Current Price

High / Low₹ 304 / 180

Stock P/E231.4

Book Value₹ 28

Price to Book10.50

Dividend Yield0.00 %

ROCE3.6 %

ROE4.3 %

Face Value₹ 10

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AI Sector View

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Oil Gas & Consumable Fuels

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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.

Confidence

78%

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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

Oil Gas & Consumable FuelsTradingTrading

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

S.No.	Name
1.	ADANIENT	3057.10	55.59	413846.54	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	AEGISLOG	1353.10	37.96	47493.81	0.64	544.84	210.70	2356.86	37.07	19.76	30.28
3.	CPPLUS	3830.15	94.94	45310.84	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	PREMIERENE	974.55	26.57	44239.84	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
5.	REDINGTON	393.65	18.09	30774.55	1.52	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.95	61.70	15354.11	0.64	90.45	118.87	755.95	27.00	20.87	14.58
7.	LLOYDSENT	69.79	94.88	10653.81	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	751.25	76.16	9468.39	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	61.96	20.78	9294.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1819.35	63.14	7918.37	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	EBGNG	683.00	54.67	7786.99	0.00	28.93	56.21	412.46	32.08	20.58	11.97
12.	GRETEX	215.00	231.40	340.69	0.00	1.29	18.51	16.19	62.73	3.58	4.69

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.99	52.99	63.40	63.64	63.64	63.39	63.39	64.95	64.95
	0.00	0.00	0.20	0.22	0.22	0.21	0.21	0.21	0.00
	0.00	0.00	0.18	0.18	0.18	0.17	0.17	0.17	0.17
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	47.01	47.01	36.22	35.96	35.96	36.22	36.22	34.67	34.88

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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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

Jun 2024

Sep 2024

Dec 2024

Jun 2025

Sep 2025

Dec 2025

Operating Profit

OPM %

2.26%

3.63%

4.52%

2.74%

1.16%

4.69%

Interest

Depreciation

Profit before Tax

Tax %

26.09%

24.68%

-26.74%

31.67%

21.60%

10.79%

Net Profit

0.20

1.25

0.61

0.22

0.52

1.09

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

OPM %

3.48%

1.27%

3.52%

2.03%

1.84%

1.01%

3.23%

Interest

Depreciation

Profit before Tax

Tax %

32.14%

-46.88%

24.12%

25.42%

-1.23%

-16.88%

9.27%

Net Profit

EPS

-0.76

1.28

1.53

23.62

1.95

0.95

—

Dividend Payout %

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-1

-0

Trade Payables

Total Liabilities

Cash & Bank

Total Assets

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-0

-8

-7

Cash from Investing

-1

-2

-17

Cash from Financing

-0

-1

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.99

63.40

63.64

63.39

64.95

0.00

0.20

0.22

0.21

0.00

0.18

0.17

Government

0.00

47.01

36.22

35.96

36.22

34.67

34.88

Gretex Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Gretex Industries 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