Oswal Greentech Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Real Estate: 38.9% • Unallocated: 33.4% • Investment Activities: 27.7%
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
- Promoters have been increasing their shareholding - up 6.3pp over 2 years
- Asset quality is healthy - gross NPA of just 0.0%
- Company has delivered good sales growth of 29.2% CAGR over last 5 years
- Latest quarter profit grew 26.4% YoY, showing strong momentum
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Recent results are weak - TTM profit is down 558.1% versus prior year
- A large part of profit comes from other income (272.6% of PBT)
- Company has a low return on capital employed of 1.1%
- Company has a low return on equity of 0.7% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1970.00 | 31.11 | 315606.09 | 0.08 | 6296.67 | 18.15 | 42036.90 | 92.22 | 11.88 | 40.79 |
| AIIL | 538.30 | 21.79 | 45713.81 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 30.27 | 88.91 |
| CHOLAHLDNG | 1473.75 | 10.37 | 27673.70 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13257.45 | 13.61 | 26822.61 | 0.65 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 251.10 | 21.43 | 24159.69 | 0.08 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13687.45 | 56.16 | 15642.80 | 1.61 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11745.75 | 94.90 | 13037.34 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 128.45 | 11.82 | 12292.15 | 2.53 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 403.10 | 18.39 | 8953.01 | 2.77 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 249.55 | 156.61 | 8602.83 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 11.46 | -2.08 |
| KAMAHOLD | 2350.85 | 8.11 | 7544.01 | 1.76 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| OSWALGREEN | 20.45 | 12.49 | 525.17 | 0.00 | 84.19 | 1163.73 | 47.06 | 283.88 | 0.43 | -79.92 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 11 | 10 | 25 | 16 | 15 | 15 | 20 | 20 | 17 | 13 | 11 | 5 | |
| 9 | 23 | 18 | 25 | 15 | 15 | 22 | 26 | 19 | 15 | 10 | 16 | 9 | |
| Operating Profit | -2 | -12 | -8 | 0 | 1 | -0 | -6 | -6 | 1 | 2 | 4 | -208 | -4 |
| OPM % | -31.89% | -104.75% | -80.39% | 0.20% | 4.42% | -1.74% | -42.04% | -32.48% | 5.15% | 11.08% | 27.22% | -1928.62% | -79.92% |
| Other Income | 17 | 8 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 24 | 14 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 14 | -5 | -3 | 5 | 6 | 5 | -0 | -0 | 8 | 8 | 9 | -84 | 9 | |
| Tax % | 35.73% | 34.88% | 16.92% | 29.92% | 15.68% | 21.67% | 229.27% | -82.35% | 11.44% | 26.90% | 8.43% | 0.55% | 9.88% |
| Net Profit | 9 | -3 | -3 | 3 | 5 | 4 | 1 | -1 | 7 | 6 | 9 | -83 | 8 |
| 0 | -0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -3 | 0 | |
| Equity Capital | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 394 | 23 | 20 | 21 | 18 | 19 | 24 | 20 | 56 | 66 | 46 | |
| 400 | 29 | 30 | 42 | -13 | 30 | 40 | 35 | 75 | 78 | 50 | |
| Operating Profit | 62 | 76 | 73 | 71 | 130 | 85 | 66 | 63 | 16 | 14 | — |
| OPM % | 16 | 328 | 361 | 331 | 708 | 438 | 275 | 309 | 28 | 22 | — |
| Other Income | 68 | 82 | 83 | 91 | 99 | 95 | 82 | 78 | 35 | 27 | 51 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 5 | 4 | 3 |
| 49 | 28 | 71 | 69 | 102 | 80 | 61 | 58 | 11 | 10 | -57 | |
| Tax % | 27 | -67 | 39 | 30 | 30 | 38 | 25 | 35 | 39 | 13 | -6 |
| Net Profit | 36 | 47 | 43 | 48 | 71 | 50 | 46 | 38 | 6 | 9 | -61 |
| EPS | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 1 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 84 | 102 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 2 | 2 | 2 | 3 | 2 | 2 | 1 | 0 | 0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -1%
- 5 Years:
- 29%
- 3 Years:
- 40%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -14%
- 5 Years:
- -35%
- 3 Years:
- -43%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -8%
- 1 Year:
- -52%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 1%
- 3 Years:
- 1%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 | 257 |
| 1,927 | 1,968 | 2,011 | 2,059 | 2,130 | 2,180 | 2,227 | 2,226 | 2,233 | 2,243 | |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 1 | 0 |
| 88 | 35 | 32 | 10 | 28 | 34 | 27 | 26 | 31 | 44 | |
| Total Liabilities | 2,272 | 2,260 | 2,300 | 2,325 | 2,415 | 2,471 | 2,510 | 2,519 | 2,521 | 2,544 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 127 | 125 | 123 | 122 | 128 | 123 | 125 | 123 | 120 | 122 | |
| 171 | 138 | 47 | 9 | 6 | 113 | 156 | 152 | 153 | 293 | |
| 62 | 62 | 63 | 63 | 114 | 111 | 139 | 191 | 261 | 223 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 5 | 11 | 5 | 4 | 5 | 6 | 4 | 29 | 382 | 405 |
| 1,906 | 1,923 | 2,061 | 2,127 | 2,162 | 2,118 | 2,087 | 2,024 | 1,606 | 1,501 | |
| Total Assets | 2,272 | 2,260 | 2,300 | 2,325 | 2,415 | 2,471 | 2,510 | 2,519 | 2,521 | 2,544 |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 1,389 | 1,250 | 1,244 | 1,351 | 792 | 1,001 | 522 | 1,018 | 1,361 | 1,420 |
| Contingent Liabilities | 249 | 232 | 228 | 221 | 221 | 220 | 221 | 201 | 262 | 266 |
| Book Value per Share | 85.05 | 86.65 | 88.30 | 90.18 | 92.93 | 94.89 | 96.70 | 96.68 | 96.94 | 97.35 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -13 | 55 | -13 | -22 | -43 | -46 | -57 | -145 | -466 | 110 | |
| Cash from Investing | -86 | -50 | 9 | 20 | 47 | 50 | 54 | 186 | 474 | -110 |
| Cash from Financing | -0 | -0 | 0 | 0 | -3 | -3 | 1 | -42 | -3 | -2 |
| -99 | 4 | -4 | -1 | 1 | 1 | -2 | -0 | 5 | -2 | |
| Free Cash Flow | -13 | 55 | -13 | -22 | -53 | -46 | -68 | -147 | -466 | 104 |
| OCF / Net Profit | -0.37 | 1.17 | -0.31 | -0.45 | -0.60 | -0.92 | -1.24 | -3.83 | -73.19 | 12.91 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -46 | -79 | -202 | -335 | -780 | -623 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 1.39 | 1.82 | 1.68 | 1.87 | 2.78 | 1.95 | 1.79 | 1.48 | 0.25 | 0.33 |
| Book Value (₹) | 85.05 | 86.65 | 88.30 | 90.18 | 92.93 | 94.89 | 96.70 | 96.68 | 96.94 | 97.35 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.50 | 1.50 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.48 | 1.91 | 1.76 | 1.94 | 2.94 | 2.09 | 1.93 | 1.63 | 0.42 | 0.47 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 15.66% | 328.11% | 361.07% | 331.42% | 708.44% | 437.96% | 274.54% | 309.27% | -35.58% | -18.86% |
| Net Margin % | 9.06% | 201.16% | 214.10% | 225.51% | 390.27% | 258.02% | 191.77% | 184.78% | 11.46% | 12.94% |
| ROE % | 1.66% | 2.12% | 1.92% | 2.10% | 3.04% | 2.07% | 1.87% | 1.53% | 0.26% | 0.34% |
| ROCE % | 2.28% | 1.29% | 3.16% | 3.01% | 4.38% | 3.37% | 2.53% | 2.39% | 0.45% | 0.43% |
| 1.59% | 2.06% | 1.90% | 2.08% | 3.01% | 2.05% | 1.85% | 1.51% | 0.25% | 0.34% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
| Inventory Days | 76 | 981 | 1132 | 1075 | 1761 | 2118 | 1897 | 2939 | 1484 | 1337 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1306 | 65 | 5 |
| 90 | 981 | 1132 | 1075 | 1761 | 2118 | 1897 | 1633 | 1421 | 1332 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 100.23x | 93.11x | 276.17x | 226.50x | 86.85x | 82.80x | 53.65x | 55.72x | 16.32x | 11.20x |
| 28.49x | 33.62x | 21.79x | 37.45x | 21.16x | 22.13x | 14.84x | 22.34x | 36.76x | 31.79x | |
| GROWTH | ||||||||||
| Revenue Growth % | 434.37% | -94.10% | -13.05% | 5.57% | -14.12% | 5.87% | 23.89% | -14.64% | 171.24% | 18.63% |
| Operating Profit Growth % | 5.97% | 23.61% | -4.31% | -3.10% | 83.58% | -34.55% | -22.34% | -3.84% | -75.21% | -8.83% |
| Net Profit Growth % | -4.38% | 30.99% | -7.45% | 11.20% | 48.63% | -30.01% | -7.92% | -17.75% | -83.18% | 33.90% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -83.18% | 33.89% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 117.44x | 107.47x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.30x | 0.37x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 23.30x | 35.74x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-26 - Oswal Greentech Limited has informed the Exchange regarding 'Receipt of ISO Certification'.
2026-08-24 - Oswal Greentech Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-24 - Oswal Greentech Limited has informed the Exchange regarding 'appointment of M/s AnujGupta & Associates. Practising Company Secretaries as the scrutinizer for the upcoming 44thAnnual General Meeting.'.
2026-08-24 - Oswal Greentech Limited has informed the Exchange regarding 'Register of Member and Share Transfer Books of the Company will remain closedfrom September 22, 2026 to September 29, 2026 (both days inclusive) for taking record of theMembers of the Company for the purpose of 44th Annual General Meeting.'.
2026-08-24 - Oswal Greentech Limited has informed the Exchange regarding Outcome of Board Meeting held on August 24, 2026.
2026-08-12 - Oswal Greentech Limited has informed the Exchange about Resignation of Statutory Auditor
2026-08-12 - Oswal Greentech Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-08 - Oswal Greentech Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-07 - Oswal Greentech Limited has informed the Exchange regarding Change in Auditors of the company.
News
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