GHCL Ltd.

•

₹ 442.4-0.17%

2026-08-21

ghcl.co.inBSE: 500171NSE: GHCL

Market Cap₹ 4,081 Cr.

Current Price₹ 442

High / Low₹ 667 / 417

Stock P/E0.0

Book Value₹ 406

Price to Book1.10

Dividend Yield2.71 %

ROCE18.3 %

ROE13.6 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Inorganic Chemicals: 75.6% • Textiles: 24.4%

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 23.7%
Latest quarter profit grew 32.0% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.11x)
Company comfortably covers its interest (67.3x coverage)
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 11.3% versus prior year
Company has delivered a poor sales growth of 4.2% over past five years
Operating margins have contracted to 25.7% from 32.4%
Company has delivered a poor profit growth of 9.3% over past five years
Growth is decelerating - 3Y profit CAGR (-24.0%) trails the 5Y trend (9.3%)

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

Peer comparison

EDIT COLUMNS

ChemicalsChemicalsChemicals

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	SOLARINDS	19650.00	89.29	177812.96	0.06	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1662.05	63.86	169161.84	1.29	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2570.50	35.25	76196.00	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4678.85	83.57	51397.17	0.06	219.00	19.02	1588.00	23.97	10.02	26.83
5.	NAVINFLUOR	8250.30	53.60	42324.05	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1226.50	35.14	41314.78	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1749.95	30.47	23868.10	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1634.55	92.24	21695.03	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6520.15	24.13	19196.47	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	521.50	35.62	18916.20	0.19	155.00	260.47	2387.00	42.42	6.39	16.00
11.	DEEPAKFERT	1458.05	18.77	18468.08	0.69	490.04	100.95	3256.26	22.47	12.12	25.96
12.	GHCL	443.00	8.64	4081.39	2.71	115.64	-23.05	790.51	1.16	18.12	22.22

Detailed Comparison with:

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
	1,019	806	798	823	830	793	779	781	796	721	757	791	774
	719	593	648	639	614	582	549	563	599	564	598	615	594
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	11	10	14	16	18	17	29	26	27	18	17	18	24
Interest	8	7	6	5	4	4	4	4	2	2	3	2	2
Depreciation	24	26	26	26	27	28	28	28	27	28	29	27	27
	497	191	133	170	203	196	227	212	195	145	144	164	258
Tax %	14.27%	25.40%	24.90%	26.47%	25.92%	21.15%	25.90%	27.85%	25.84%	26.06%	25.94%	26.93%	25.76%
Net Profit	426	143	100	125	151	155	168	153	145	107	107	120	191
	45	15	10	13	16	16	18	16	15	11	11	13	2
Equity Capital	96	96	96	96	96	96	96	96	96	96	92	92	92
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%
Equity Capital	96	96	96	96	96	96	96	96	96	96	92	92	92
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%

Jun 2023

: 1,019
: 719
Operating Profit: —
OPM %: —
Other Income: 11
Interest: 8
Depreciation: 24
: 497
Tax %: 14.27%
Net Profit: 426
: 45
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 806
: 593
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 7
Depreciation: 26
: 191
Tax %: 25.40%
Net Profit: 143
: 15
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 798
: 648
Operating Profit: —
OPM %: —
Other Income: 14
Interest: 6
Depreciation: 26
: 133
Tax %: 24.90%
Net Profit: 100
: 10
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 823
: 639
Operating Profit: —
OPM %: —
Other Income: 16
Interest: 5
Depreciation: 26
: 170
Tax %: 26.47%
Net Profit: 125
: 13
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 830
: 614
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 4
Depreciation: 27
: 203
Tax %: 25.92%
Net Profit: 151
: 16
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 793
: 582
Operating Profit: —
OPM %: —
Other Income: 17
Interest: 4
Depreciation: 28
: 196
Tax %: 21.15%
Net Profit: 155
: 16
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 779
: 549
Operating Profit: —
OPM %: —
Other Income: 29
Interest: 4
Depreciation: 28
: 227
Tax %: 25.90%
Net Profit: 168
: 18
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 781
: 563
Operating Profit: —
OPM %: —
Other Income: 26
Interest: 4
Depreciation: 28
: 212
Tax %: 27.85%
Net Profit: 153
: 16
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 796
: 599
Operating Profit: —
OPM %: —
Other Income: 27
Interest: 2
Depreciation: 27
: 195
Tax %: 25.84%
Net Profit: 145
: 15
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 721
: 564
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 2
Depreciation: 28
: 145
Tax %: 26.06%
Net Profit: 107
: 11
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 757
: 598
Operating Profit: —
OPM %: —
Other Income: 17
Interest: 3
Depreciation: 29
: 144
Tax %: 25.94%
Net Profit: 107
: 11
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 791
: 615
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 2
Depreciation: 27
: 164
Tax %: 26.93%
Net Profit: 120
: 13
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 774
: 594
Operating Profit: —
OPM %: —
Other Income: 24
Interest: 2
Depreciation: 27
: 258
Tax %: 25.76%
Net Profit: 191
: 2
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 92
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,754	2,882	3,371	3,256	2,491	3,778	4,551	3,447	3,183	3,064	3,043
	2,067	2,268	2,601	2,519	1,894	2,797	3,064	2,598	2,306	2,375	2,371
Operating Profit	724	649	784	753	604	992	1,520	901	967	769	—
OPM %	26	23	23	23	24	26	33	26	30	25	—
Other Income	37	36	14	16	7	11	33	52	90	80	76
Interest	134	124	126	118	74	64	39	27	17	10	8
Depreciation	86	110	116	131	111	117	94	102	112	111	111
	502	415	541	504	418	787	1,443	991	838	649	711
Tax %	23	12	33	19	27	27	24	20	25	26	26
Net Profit	387	365	361	406	307	574	1,092	794	626	479	525
EPS	39	37	37	42	33	66	117	83	65	52	—
Dividend Payout %	13	13	14	7	17	25	15	14	18	23	—
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	39	37	37	43	32	60	114	83	65	52	—
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	39	37	37	43	32	60	114	83	65	52	—

Mar 2017

: 2,754
: 2,067
Operating Profit: 724
OPM %: 26
Other Income: 37
Interest: 134
Depreciation: 86
: 502
Tax %: 23
Net Profit: 387
EPS: 39
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 39
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 39

Mar 2018

: 2,882
: 2,268
Operating Profit: 649
OPM %: 23
Other Income: 36
Interest: 124
Depreciation: 110
: 415
Tax %: 12
Net Profit: 365
EPS: 37
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 37
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 37

Mar 2019

: 3,371
: 2,601
Operating Profit: 784
OPM %: 23
Other Income: 14
Interest: 126
Depreciation: 116
: 541
Tax %: 33
Net Profit: 361
EPS: 37
Dividend Payout %: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 37
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 37

Mar 2020

: 3,256
: 2,519
Operating Profit: 753
OPM %: 23
Other Income: 16
Interest: 118
Depreciation: 131
: 504
Tax %: 19
Net Profit: 406
EPS: 42
Dividend Payout %: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 43
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 43

Mar 2021

: 2,491
: 1,894
Operating Profit: 604
OPM %: 24
Other Income: 7
Interest: 74
Depreciation: 111
: 418
Tax %: 27
Net Profit: 307
EPS: 33
Dividend Payout %: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 32
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 32

Mar 2022

: 3,778
: 2,797
Operating Profit: 992
OPM %: 26
Other Income: 11
Interest: 64
Depreciation: 117
: 787
Tax %: 27
Net Profit: 574
EPS: 66
Dividend Payout %: 25
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 60
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 60

Mar 2023

: 4,551
: 3,064
Operating Profit: 1,520
OPM %: 33
Other Income: 33
Interest: 39
Depreciation: 94
: 1,443
Tax %: 24
Net Profit: 1,092
EPS: 117
Dividend Payout %: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 114
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 114

Mar 2024

: 3,447
: 2,598
Operating Profit: 901
OPM %: 26
Other Income: 52
Interest: 27
Depreciation: 102
: 991
Tax %: 20
Net Profit: 794
EPS: 83
Dividend Payout %: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 83
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 83

Mar 2025

: 3,183
: 2,306
Operating Profit: 967
OPM %: 30
Other Income: 90
Interest: 17
Depreciation: 112
: 838
Tax %: 25
Net Profit: 626
EPS: 65
Dividend Payout %: 18
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 65
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 65

Mar 2026

: 3,064
: 2,375
Operating Profit: 769
OPM %: 25
Other Income: 80
Interest: 10
Depreciation: 111
: 649
Tax %: 26
Net Profit: 479
EPS: 52
Dividend Payout %: 23
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 52
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 52

TTM

: 3,043
: 2,371
Operating Profit: —
OPM %: —
Other Income: 76
Interest: 8
Depreciation: 111
: 711
Tax %: 26
Net Profit: 525
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 2%
5 Years:: 4%
3 Years:: -12%

COMPOUNDED PROFIT GROWTH

10 Years:: 6%
5 Years:: 9%
3 Years:: -24%

STOCK PRICE CAGR

10 Years:: 6%
5 Years:: 6%
3 Years:: -4%
1 Year:: -24%

RETURN ON EQUITY

10 Years:: 22%
5 Years:: 22%
3 Years:: 19%
Last Year:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	99	97	98	95	95	95	96	96	96	92
	1,252	1,525	1,834	2,081	2,395	2,989	3,824	2,861	3,375	3,454
	733	569	565	432	204	343	103	0	0	0
Trade Payables	334	382	408	406	376	342	243	194	165	280
	1,164	1,158	1,098	1,331	1,028	1,448	859	610	544	473
Total Liabilities	3,581	3,732	4,004	4,345	4,098	5,217	5,125	3,761	4,179	4,300
ASSETS	-	-	-	-	-	-	-	-	-	-
	2,399	2,492	2,581	2,655	2,675	2,469	1,731	1,842	1,844	1,821
Capital Work in Progress	25	73	114	120	81	213	109	55	256	450
	9	10	47	34	40	17	380	420	651	1,042
	509	588	668	724	740	942	772	651	626	597
	0	0	0	0	0	0	0	180	210	173
Cash & Bank	32	24	28	105	46	242	140	491	446	90
	607	545	566	706	516	1,335	1,993	122	148	128
Total Assets	3,581	3,732	4,004	4,345	4,098	5,217	5,125	3,761	4,179	4,300
Total Debt	1,431	1,314	1,292	1,240	768	767	346	196	97	62
Net Working Capital	-178	-52	92	334	459	501	1,111	1,357	1,579	1,483
Contingent Liabilities	235	336	360	351	311	166	162	191	238	174
Book Value per Share	135.85	166.49	197.07	229.00	262.12	323.52	410.02	308.93	362.45	385.74
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	1,431	1,314	1,292	1,240	768	767	346	196	97	62
Net Working Capital	-178	-52	92	334	459	501	1,111	1,357	1,579	1,483
Contingent Liabilities	235	336	360	351	311	166	162	191	238	174
Book Value per Share	135.85	166.49	197.07	229.00	262.12	323.52	410.02	308.93	362.45	385.74
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2017

Equity Capital: 99
: 1,252
: 733
Trade Payables: 334
: 1,164
Total Liabilities: 3,581
: 2,399
Capital Work in Progress: 25
: 9
: 509
: 0
Cash & Bank: 32
: 607
Total Assets: 3,581
Total Debt: 1,431
Net Working Capital: -178
Contingent Liabilities: 235
Book Value per Share: 135.85
Face Value: 10.00
Total Debt: 1,431
Net Working Capital: -178
Contingent Liabilities: 235
Book Value per Share: 135.85
Face Value: 10.00

Mar 2018

Equity Capital: 97
: 1,525
: 569
Trade Payables: 382
: 1,158
Total Liabilities: 3,732
: 2,492
Capital Work in Progress: 73
: 10
: 588
: 0
Cash & Bank: 24
: 545
Total Assets: 3,732
Total Debt: 1,314
Net Working Capital: -52
Contingent Liabilities: 336
Book Value per Share: 166.49
Face Value: 10.00
Total Debt: 1,314
Net Working Capital: -52
Contingent Liabilities: 336
Book Value per Share: 166.49
Face Value: 10.00

Mar 2019

Equity Capital: 98
: 1,834
: 565
Trade Payables: 408
: 1,098
Total Liabilities: 4,004
: 2,581
Capital Work in Progress: 114
: 47
: 668
: 0
Cash & Bank: 28
: 566
Total Assets: 4,004
Total Debt: 1,292
Net Working Capital: 92
Contingent Liabilities: 360
Book Value per Share: 197.07
Face Value: 10.00
Total Debt: 1,292
Net Working Capital: 92
Contingent Liabilities: 360
Book Value per Share: 197.07
Face Value: 10.00

Mar 2020

Equity Capital: 95
: 2,081
: 432
Trade Payables: 406
: 1,331
Total Liabilities: 4,345
: 2,655
Capital Work in Progress: 120
: 34
: 724
: 0
Cash & Bank: 105
: 706
Total Assets: 4,345
Total Debt: 1,240
Net Working Capital: 334
Contingent Liabilities: 351
Book Value per Share: 229.00
Face Value: 10.00
Total Debt: 1,240
Net Working Capital: 334
Contingent Liabilities: 351
Book Value per Share: 229.00
Face Value: 10.00

Mar 2021

Equity Capital: 95
: 2,395
: 204
Trade Payables: 376
: 1,028
Total Liabilities: 4,098
: 2,675
Capital Work in Progress: 81
: 40
: 740
: 0
Cash & Bank: 46
: 516
Total Assets: 4,098
Total Debt: 768
Net Working Capital: 459
Contingent Liabilities: 311
Book Value per Share: 262.12
Face Value: 10.00
Total Debt: 768
Net Working Capital: 459
Contingent Liabilities: 311
Book Value per Share: 262.12
Face Value: 10.00

Mar 2022

Equity Capital: 95
: 2,989
: 343
Trade Payables: 342
: 1,448
Total Liabilities: 5,217
: 2,469
Capital Work in Progress: 213
: 17
: 942
: 0
Cash & Bank: 242
: 1,335
Total Assets: 5,217
Total Debt: 767
Net Working Capital: 501
Contingent Liabilities: 166
Book Value per Share: 323.52
Face Value: 10.00
Total Debt: 767
Net Working Capital: 501
Contingent Liabilities: 166
Book Value per Share: 323.52
Face Value: 10.00

Mar 2023

Equity Capital: 96
: 3,824
: 103
Trade Payables: 243
: 859
Total Liabilities: 5,125
: 1,731
Capital Work in Progress: 109
: 380
: 772
: 0
Cash & Bank: 140
: 1,993
Total Assets: 5,125
Total Debt: 346
Net Working Capital: 1,111
Contingent Liabilities: 162
Book Value per Share: 410.02
Face Value: 10.00
Total Debt: 346
Net Working Capital: 1,111
Contingent Liabilities: 162
Book Value per Share: 410.02
Face Value: 10.00

Mar 2024

Equity Capital: 96
: 2,861
: 0
Trade Payables: 194
: 610
Total Liabilities: 3,761
: 1,842
Capital Work in Progress: 55
: 420
: 651
: 180
Cash & Bank: 491
: 122
Total Assets: 3,761
Total Debt: 196
Net Working Capital: 1,357
Contingent Liabilities: 191
Book Value per Share: 308.93
Face Value: 10.00
Total Debt: 196
Net Working Capital: 1,357
Contingent Liabilities: 191
Book Value per Share: 308.93
Face Value: 10.00

Mar 2025

Equity Capital: 96
: 3,375
: 0
Trade Payables: 165
: 544
Total Liabilities: 4,179
: 1,844
Capital Work in Progress: 256
: 651
: 626
: 210
Cash & Bank: 446
: 148
Total Assets: 4,179
Total Debt: 97
Net Working Capital: 1,579
Contingent Liabilities: 238
Book Value per Share: 362.45
Face Value: 10.00
Total Debt: 97
Net Working Capital: 1,579
Contingent Liabilities: 238
Book Value per Share: 362.45
Face Value: 10.00

Mar 2026

Equity Capital: 92
: 3,454
: 0
Trade Payables: 280
: 473
Total Liabilities: 4,300
: 1,821
Capital Work in Progress: 450
: 1,042
: 597
: 173
Cash & Bank: 90
: 128
Total Assets: 4,300
Total Debt: 62
Net Working Capital: 1,483
Contingent Liabilities: 174
Book Value per Share: 385.74
Face Value: 10.00
Total Debt: 62
Net Working Capital: 1,483
Contingent Liabilities: 174
Book Value per Share: 385.74
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	445	564	561	628	620	639	899	797	638	681
Cash from Investing	-374	-279	-306	-215	-109	-344	-440	-534	-358	-284
Cash from Financing	-103	-281	-259	-328	-568	-97	-529	-338	-230	-451
	-32	4	-5	85	-57	198	-70	-75	50	-54
Free Cash Flow	47	331	335	446	509	639	899	649	339	404
OCF / Net Profit	1.15	1.55	1.55	1.55	2.02	1.11	0.82	1.00	1.02	1.42
Cumulative 5-Year FCF	0	0	0	0	1,669	2,261	2,829	3,143	3,035	2,930
OCF / Net Profit	1.15	1.55	1.55	1.55	2.02	1.11	0.82	1.00	1.02	1.42
Cumulative 5-Year FCF	0	0	0	0	1,669	2,261	2,829	3,143	3,035	2,930

Mar 2017

: 445
Cash from Investing: -374
Cash from Financing: -103
: -32
Free Cash Flow: 47
OCF / Net Profit: 1.15
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.15
Cumulative 5-Year FCF: 0

Mar 2018

: 564
Cash from Investing: -279
Cash from Financing: -281
: 4
Free Cash Flow: 331
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0

Mar 2019

: 561
Cash from Investing: -306
Cash from Financing: -259
: -5
Free Cash Flow: 335
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0

Mar 2020

: 628
Cash from Investing: -215
Cash from Financing: -328
: 85
Free Cash Flow: 446
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0

Mar 2021

: 620
Cash from Investing: -109
Cash from Financing: -568
: -57
Free Cash Flow: 509
OCF / Net Profit: 2.02
Cumulative 5-Year FCF: 1,669
OCF / Net Profit: 2.02
Cumulative 5-Year FCF: 1,669

Mar 2022

: 639
Cash from Investing: -344
Cash from Financing: -97
: 198
Free Cash Flow: 639
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: 2,261
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: 2,261

Mar 2023

: 899
Cash from Investing: -440
Cash from Financing: -529
: -70
Free Cash Flow: 899
OCF / Net Profit: 0.82
Cumulative 5-Year FCF: 2,829
OCF / Net Profit: 0.82
Cumulative 5-Year FCF: 2,829

Mar 2024

: 797
Cash from Investing: -534
Cash from Financing: -338
: -75
Free Cash Flow: 649
OCF / Net Profit: 1.00
Cumulative 5-Year FCF: 3,143
OCF / Net Profit: 1.00
Cumulative 5-Year FCF: 3,143

Mar 2025

: 638
Cash from Investing: -358
Cash from Financing: -230
: 50
Free Cash Flow: 339
OCF / Net Profit: 1.02
Cumulative 5-Year FCF: 3,035
OCF / Net Profit: 1.02
Cumulative 5-Year FCF: 3,035

Mar 2026

: 681
Cash from Investing: -284
Cash from Financing: -451
: -54
Free Cash Flow: 404
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 2,930
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 2,930

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	38.88	37.42	36.83	42.78	32.31	60.25	114.28	82.90	65.40	52.08
Book Value (₹)	135.85	166.49	197.07	229.00	262.12	323.52	410.02	308.93	362.45	385.74
Dividend per Share (₹)	5.00	5.00	5.00	3.00	5.50	15.00	17.50	12.00	12.00	12.00
Cash EPS (₹)	47.50	48.66	48.69	56.52	44.04	72.50	124.14	93.57	77.05	64.14
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	24.62%	22.14%	23.25%	23.13%	22.72%	25.23%	32.40%	22.81%	31.03%	25.69%
Net Margin %	13.14%	12.43%	10.71%	12.48%	11.55%	14.60%	23.28%	21.33%	22.15%	17.84%
ROE %	32.44%	24.52%	20.32%	19.79%	13.16%	20.61%	31.19%	23.08%	19.49%	13.65%
ROCE %	24.73%	18.88%	21.60%	18.67%	14.72%	23.87%	36.40%	27.34%	25.37%	18.31%
	11.74%	9.97%	9.33%	9.74%	7.27%	12.33%	21.12%	17.86%	15.77%	11.29%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	36	38	36	41	42	24	19	20	25	26
Inventory Days	57	68	68	78	101	78	67	70	82	83
Payable Days	101	105	99	104	126	78	67	62	62	74
	-9	2	5	15	17	25	19	27	45	35
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	1.06x	0.81x	0.67x	0.57x	0.31x	0.25x	0.09x	0.07x	0.03x	0.02x
Interest Coverage (x)	4.75x	4.35x	5.28x	5.27x	6.63x	13.38x	38.30x	38.22x	48.95x	67.33x
	0.86x	0.96x	1.08x	1.31x	1.61x	1.38x	3.60x	4.28x	5.29x	4.38x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	8.76%	4.64%	16.98%	-3.42%	-23.49%	51.67%	20.45%	-24.27%	-7.63%	-3.75%
Operating Profit Growth %	13.95%	-10.39%	20.73%	-3.90%	-19.80%	64.27%	53.19%	-40.76%	7.40%	-20.46%
Net Profit Growth %	50.71%	-5.76%	-0.95%	12.59%	-24.48%	87.13%	90.16%	-27.36%	-21.09%	-23.54%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-27.46%	-21.11%	-20.36%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.35x	9.39x	8.12x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.43x	1.69x	1.10x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.71%	1.95%	2.84%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.38x	5.72x	5.02x

Mar 2017

EPS (₹): 38.88
Book Value (₹): 135.85
Dividend per Share (₹): 5.00
Cash EPS (₹): 47.50
Operating Margin %: 24.62%
Net Margin %: 13.14%
ROE %: 32.44%
ROCE %: 24.73%
: 11.74%
Debtor Days: 36
Inventory Days: 57
Payable Days: 101
: -9
Debt to Equity (x): 1.06x
Interest Coverage (x): 4.75x
: 0.86x
Revenue Growth %: 8.76%
Operating Profit Growth %: 13.95%
Net Profit Growth %: 50.71%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 37.42
Book Value (₹): 166.49
Dividend per Share (₹): 5.00
Cash EPS (₹): 48.66
Operating Margin %: 22.14%
Net Margin %: 12.43%
ROE %: 24.52%
ROCE %: 18.88%
: 9.97%
Debtor Days: 38
Inventory Days: 68
Payable Days: 105
: 2
Debt to Equity (x): 0.81x
Interest Coverage (x): 4.35x
: 0.96x
Revenue Growth %: 4.64%
Operating Profit Growth %: -10.39%
Net Profit Growth %: -5.76%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 36.83
Book Value (₹): 197.07
Dividend per Share (₹): 5.00
Cash EPS (₹): 48.69
Operating Margin %: 23.25%
Net Margin %: 10.71%
ROE %: 20.32%
ROCE %: 21.60%
: 9.33%
Debtor Days: 36
Inventory Days: 68
Payable Days: 99
: 5
Debt to Equity (x): 0.67x
Interest Coverage (x): 5.28x
: 1.08x
Revenue Growth %: 16.98%
Operating Profit Growth %: 20.73%
Net Profit Growth %: -0.95%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 42.78
Book Value (₹): 229.00
Dividend per Share (₹): 3.00
Cash EPS (₹): 56.52
Operating Margin %: 23.13%
Net Margin %: 12.48%
ROE %: 19.79%
ROCE %: 18.67%
: 9.74%
Debtor Days: 41
Inventory Days: 78
Payable Days: 104
: 15
Debt to Equity (x): 0.57x
Interest Coverage (x): 5.27x
: 1.31x
Revenue Growth %: -3.42%
Operating Profit Growth %: -3.90%
Net Profit Growth %: 12.59%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 32.31
Book Value (₹): 262.12
Dividend per Share (₹): 5.50
Cash EPS (₹): 44.04
Operating Margin %: 22.72%
Net Margin %: 11.55%
ROE %: 13.16%
ROCE %: 14.72%
: 7.27%
Debtor Days: 42
Inventory Days: 101
Payable Days: 126
: 17
Debt to Equity (x): 0.31x
Interest Coverage (x): 6.63x
: 1.61x
Revenue Growth %: -23.49%
Operating Profit Growth %: -19.80%
Net Profit Growth %: -24.48%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 60.25
Book Value (₹): 323.52
Dividend per Share (₹): 15.00
Cash EPS (₹): 72.50
Operating Margin %: 25.23%
Net Margin %: 14.60%
ROE %: 20.61%
ROCE %: 23.87%
: 12.33%
Debtor Days: 24
Inventory Days: 78
Payable Days: 78
: 25
Debt to Equity (x): 0.25x
Interest Coverage (x): 13.38x
: 1.38x
Revenue Growth %: 51.67%
Operating Profit Growth %: 64.27%
Net Profit Growth %: 87.13%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 114.28
Book Value (₹): 410.02
Dividend per Share (₹): 17.50
Cash EPS (₹): 124.14
Operating Margin %: 32.40%
Net Margin %: 23.28%
ROE %: 31.19%
ROCE %: 36.40%
: 21.12%
Debtor Days: 19
Inventory Days: 67
Payable Days: 67
: 19
Debt to Equity (x): 0.09x
Interest Coverage (x): 38.30x
: 3.60x
Revenue Growth %: 20.45%
Operating Profit Growth %: 53.19%
Net Profit Growth %: 90.16%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 82.90
Book Value (₹): 308.93
Dividend per Share (₹): 12.00
Cash EPS (₹): 93.57
Operating Margin %: 22.81%
Net Margin %: 21.33%
ROE %: 23.08%
ROCE %: 27.34%
: 17.86%
Debtor Days: 20
Inventory Days: 70
Payable Days: 62
: 27
Debt to Equity (x): 0.07x
Interest Coverage (x): 38.22x
: 4.28x
Revenue Growth %: -24.27%
Operating Profit Growth %: -40.76%
Net Profit Growth %: -27.36%
: -27.46%
P/E (x): 5.35x
P/B (x): 1.43x
Dividend Yield %: 2.71%
: 4.38x

Mar 2025

EPS (₹): 65.40
Book Value (₹): 362.45
Dividend per Share (₹): 12.00
Cash EPS (₹): 77.05
Operating Margin %: 31.03%
Net Margin %: 22.15%
ROE %: 19.49%
ROCE %: 25.37%
: 15.77%
Debtor Days: 25
Inventory Days: 82
Payable Days: 62
: 45
Debt to Equity (x): 0.03x
Interest Coverage (x): 48.95x
: 5.29x
Revenue Growth %: -7.63%
Operating Profit Growth %: 7.40%
Net Profit Growth %: -21.09%
: -21.11%
P/E (x): 9.39x
P/B (x): 1.69x
Dividend Yield %: 1.95%
: 5.72x

Mar 2026

EPS (₹): 52.08
Book Value (₹): 385.74
Dividend per Share (₹): 12.00
Cash EPS (₹): 64.14
Operating Margin %: 25.69%
Net Margin %: 17.84%
ROE %: 13.65%
ROCE %: 18.31%
: 11.29%
Debtor Days: 26
Inventory Days: 83
Payable Days: 74
: 35
Debt to Equity (x): 0.02x
Interest Coverage (x): 67.33x
: 4.38x
Revenue Growth %: -3.75%
Operating Profit Growth %: -20.46%
Net Profit Growth %: -23.54%
: -20.36%
P/E (x): 8.12x
P/B (x): 1.10x
Dividend Yield %: 2.84%
: 5.02x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	19.04	19.04	19.04	19.04	18.97	18.97	19.83	19.87	19.83
	24.76	25.70	25.41	26.06	26.41	25.67	25.22	24.66	22.44
	9.29	9.79	10.35	10.11	10.28	10.52	9.49	10.57	11.20
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	46.90	45.45	45.18	44.79	44.33	44.82	45.45	44.89	46.53

Jun 2024

: 19.04
: 24.76
: 9.29
Government: 0.00
: 46.90

Sep 2024

: 19.04
: 25.70
: 9.79
Government: 0.00
: 45.45

Dec 2024

: 19.04
: 25.41
: 10.35
Government: 0.00
: 45.18

Mar 2025

: 19.04
: 26.06
: 10.11
Government: 0.00
: 44.79

Jun 2025

: 18.97
: 26.41
: 10.28
Government: 0.00
: 44.33

Sep 2025

: 18.97
: 25.67
: 10.52
Government: 0.00
: 44.82

Dec 2025

: 19.83
: 25.22
: 9.49
Government: 0.00
: 45.45

Mar 2026

: 19.87
: 24.66
: 10.57
Government: 0.00
: 44.89

Jun 2026

: 19.83
: 22.44
: 11.20
Government: 0.00
: 46.53

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-07 - GHCL Limited has informed the Exchange about Schedule of meet
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-06 - GHCL Limited has informed the Exchange about Transcript

Annual Reports

Credit Ratings

Credit Rating
2026-07-31 - GHCL Limited has informed the Exchange about Credit Rating

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Feb 2026
Transcript PPTREC