Gujarat State Financial Corporation Ltd.
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Asset quality is healthy - gross NPA of just 0.0%
- Operating margins have improved to 86.1% from 78.0%
CONS
- Net worth is negative - accumulated losses have eroded equity
- Company is loss-making at the operating / net level
- Company has a low return on capital employed of 0.0%
- Company has a low return on equity of 0.0% over last 3 years
- Effective tax rate is unusually low at 0.0% - earnings may be flattered
- Company has delivered a poor sales growth of 4.1% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PFC | 353.40 | 4.48 | 116625.60 | 5.25 | 8997.92 | 0.18 | 28526.86 | 0.32 | 10.05 | 99.88 |
| IRFC | 83.08 | 15.10 | 108573.15 | 2.53 | 19272.10 | 1003.98 | 82611.10 | 1094.60 | 5.64 | 99.49 |
| RECLTD | 316.50 | 5.20 | 83341.54 | 5.86 | 4192.76 | -6.11 | 14434.92 | -1.51 | 9.71 | 96.90 |
| IFCI | 102.62 | 158.51 | 27649.05 | 0.00 | 60.27 | -3.46 | 327.06 | 4.79 | 7.56 | 57.66 |
| TFCILTD | 140.55 | 76.12 | 6507.15 | 0.43 | 18.38 | -8.25 | 51.00 | -17.46 | 11.13 | 90.10 |
| SATIN | 217.25 | 5.86 | 2399.98 | 0.00 | 1226.46 | 2619.42 | 7621.36 | 983.89 | 12.15 | 62.96 |
| GUJSTATFIN | 9.94 | 0.00 | 88.58 | 0.00 | -19.68 | 36.57 | 0.00 | -100.00 | 0.00 | — |
| TRU | 4.09 | 0.00 | 48.61 | 0.00 | -10.58 | -16.29 | 11.27 | -62.55 | 3.48 | -79.12 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 1 | 0 | 1 | 1 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 1 | 3 | -1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 24 | |
| Operating Profit | 3 | 3 | 1 | 2 | -0 | 0 | 1 | -0 | 1 | -0 | -0 | -2 | -0 |
| OPM % | 114.80% | 258.76% | 3700.00% | 350.79% | -58.49% | 47.06% | -131.63% | -176.00% | 588.89% | -640.00% | — | — | — |
| Other Income | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Interest | 34 | 35 | 35 | 34 | 35 | 35 | 35 | 35 | 35 | 36 | 36 | 35 | 23 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| -28 | -31 | -30 | -30 | -31 | -31 | -32 | -31 | -31 | -32 | -32 | -32 | -20 | |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -28 | -31 | -30 | -30 | -31 | -31 | -32 | -31 | -31 | -32 | -32 | -32 | -20 |
| -3 | -3 | -3 | -3 | -4 | -4 | -4 | -3 | -3 | -4 | -4 | -4 | -0 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 18 | 21 | 19 | 14 | 11 | 14 | 20 | 17 | 17 | 0 | |
| 11 | 7 | 8 | 7 | 5 | 5 | 4 | 3 | 3 | 2 | 26 | |
| Operating Profit | 6 | 11 | 13 | 13 | 9 | 6 | 10 | 17 | 14 | 15 | -26 |
| OPM % | 35.25% | 60.07% | 61.25% | 65.96% | 62.83% | 53.79% | 73.62% | 85.26% | 82.28% | 86.10% | -51206.00% |
| 1 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 0 | -0 | 16 | |
| Interest | 124 | 126 | 128 | 130 | 132 | 134 | 136 | 137 | 139 | 141 | 129 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 | -127 | -116 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 | -127 | -116 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -13.79 | -14.34 | -14.04 | -13.38 | -14.07 | -14.28 | — |
| 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:
- -7%
- 5 Years:
- 4%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 0%
- 5 Years:
- 0%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 |
| -2,184 | -2,299 | -2,414 | -2,531 | -2,654 | -2,782 | -2,907 | -3,029 | -3,154 | -3,282 | |
| 2,216 | 2,342 | 2,470 | 2,600 | 2,732 | 2,866 | 3,001 | 3,139 | 3,278 | 3,419 | |
| 8 | 7 | 8 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | |
| Total Liabilities | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 | 234 |
| 5 | 4 | 4 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | |
| 2 | 2 | 2 | 1 | 2 | 2 | 2 | 3 | 3 | 2 | |
| Cash & Bank | 115 | 127 | 141 | 153 | 163 | 169 | 179 | 192 | 205 | 219 |
| 7 | 6 | 7 | 8 | 7 | 6 | 7 | 9 | 10 | 10 | |
| Total Assets | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 | 234 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -2 | 3 | 5 | 2 | -1 | -14 | -8 | -12 | -14 | -17 | |
| Cash from Investing | 9 | -2 | -7 | -2 | 1 | 9 | 9 | 11 | 14 | 16 |
| Cash from Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 7 | 1 | -2 | -0 | 0 | -4 | 1 | -1 | 1 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | 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 GUJSTATFIN
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