---
title: "Gloster Ltd(Merged) (538595) — Share Price, Financials & Analysis"
symbol: "538595"
company: "Gloster Ltd(Merged)"
canonical: "https://tapetide.com/stocks/538595"
isin: "INE652C01016"
bse_code: "538595"
sector: "Commodities"
industry: "Paper, Forest & Jute Products"
generated_at: "2026-09-13T18:58:34.217Z"
---

# Gloster Ltd(Merged) (538595)

Canonical page: https://tapetide.com/stocks/538595

## Company

- **BSE Code:** 538595
- **ISIN:** INE652C01016
- **Sector:** Commodities
- **Industry:** Paper, Forest & Jute Products
- **Macro Sector:** Commodities
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** glosterjute.com

## About

Gloster Limited is a manufacturer and exporter of jute and jute allied products.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 19.4% CAGR over last 5 years

### Weaknesses

- The company has delivered a poor sales growth of 10.3% over past five years.
- Company has a low return on equity of 7.59% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 92% | 48% | 19% |
| revenue growth | 18% | 14% | 10% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Mar 2017 | Jun 2017 | Sep 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 82 | 76 | 93 | 76 | 118 | 107 | 126 | 112 | 153 | 133 | 119 | 108 |
| Expenses | 74 | 69 | 84 | 67 | 111 | 94 | 118 | 98 | 128 | 126 | 102 | 90 |
| Operating Profit | 8 | 6 | 10 | 9 | 7 | 12 | 9 | 14 | 25 | 8 | 17 | 18 |
| OPM % | 10 | 8 | 10 | 12 | 6 | 11 | 7 | 13 | 16 | 6 | 14 | 16 |
| Other Income | 1 | 1 | 1 | 1 | 8 | 1 | 2 | 6 | 2 | 5 | 4 | 2 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 6 | 4 | 8 | 8 | 12 | 10 | 7 | 17 | 24 | 10 | 19 | 17 |
| Tax % | 41 | 35 | 30 | 32 | 36 | 34 | 29 | 34 | 34 | 38 | 35 | 36 |
| Net Profit | 3 | 2 | 6 | 5 | 8 | 6 | 5 | 11 | 16 | 6 | 12 | 11 |
| EPS in Rs | 3.21 | 2.23 | 5.32 | 4.96 | 7.6 | 6.11 | 5.03 | 10.88 | 15.28 | 5.67 | 11.83 | 10.42 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 159 | 167 | 194 | 307 | 309 | 346 | 336 | 325 | 427 | 504 |
| Expenses | 135 | 147 | 173 | 271 | 276 | 307 | 308 | 298 | 391 | 436 |
| Operating Profit | 24 | 20 | 22 | 36 | 32 | 40 | 28 | 28 | 36 | 67 |
| OPM % | 15 | 12 | 11 | 12 | 11 | 11 | 8 | 9 | 8 | 13 |
| Other Income | 2 | 3 | 1 | -3 | 7 | 2 | 5 | 6 | 13 | 14 |
| Interest | 3 | 3 | 2 | 5 | 5 | 4 | 5 | 5 | 4 | 3 |
| Depreciation | 5 | 5 | 5 | 6 | 6 | 7 | 8 | 9 | 8 | 8 |
| Profit before tax | 18 | 15 | 15 | 22 | 28 | 30 | 20 | 20 | 37 | 71 |
| Tax % | 38 | 39 | 36 | 35 | 31 | 33 | 30 | 34 | 33 | 35 |
| Net Profit | 11 | 9 | 10 | 14 | 19 | 20 | 14 | 13 | 25 | 46 |
| EPS in Rs | — | 8.73 | 9.38 | 13.54 | 18.2 | 19.43 | 13.54 | 12.73 | 23.69 | 43.64 |
| Dividend Payout % | 6 | 14 | 16 | 13 | 28 | 13 | 22 | 24 | 13 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 10 |
| Reserves | 42 | 49 | 263 | 267 | 273 | 398 | 389 | 357 | 324 | 365 |
| Borrowings | 31 | 30 | 26 | 65 | 51 | 62 | 56 | 40 | 83 | 35 |
| Other Liabilities | 25 | 27 | 43 | 30 | 36 | 42 | 37 | 36 | 47 | 47 |
| Total Liabilities | 100 | 108 | 334 | 364 | 363 | 505 | 488 | 438 | 460 | 457 |
| Fixed Assets | 55 | 56 | 261 | 257 | 252 | 363 | 346 | 306 | 256 | 262 |
| CWIP | 3 | 1 | 4 | 5 | 3 | 1 | 4 | 1 | 4 | 2 |
| Investments | 0 | 0 | 0 | 0 | 10 | 28 | 35 | 31 | 45 | 62 |
| Other Assets | 42 | 51 | 69 | 102 | 97 | 113 | 104 | 100 | 155 | 131 |
| Total Assets | 100 | 108 | 334 | 364 | 363 | 505 | 488 | 438 | 460 | 457 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 14 | 9 | 17 | -23 | 47 | 25 | 19 | 31 | 4 | 84 |
| Cash from Investing Activity | -6 | -5 | -7 | -10 | -16 | -25 | -16 | -4 | -41 | -30 |
| Cash from Financing Activity | -8 | -4 | -8 | 33 | -21 | 1 | -14 | -25 | 36 | -56 |
| Net Cash Flow | 0 | 0 | 3 | 0 | 10 | 2 | -11 | 1 | -1 | -1 |
| Free Cash Flow | 8 | 4 | 10 | -33 | 41 | 17 | 7 | 20 | -11 | 74 |
| CFO/OP | 82 | 71 | 98 | -38 | 169 | 91 | 95 | 135 | 53 | 159 |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 14 | 16 | 17 | 12 | 14 | 12 | 16 | 20 | 22 | 14 |
| Inventory Days | 146 | 162 | 161 | 153 | 118 | 140 | 142 | 149 | 156 | 111 |
| Days Payable | 79 | 62 | 80 | 11 | 9 | 7 | 5 | 10 | 10 | 6 |
| Cash Conversion Cycle | 82 | 116 | 99 | 154 | 123 | 144 | 153 | 158 | 168 | 119 |
| Working Capital Days | 50 | 65 | 55 | 84 | 59 | 61 | 66 | 64 | 86 | 58 |
| ROCE % | 28 | 22 | 9 | 10 | 10 | 9 | 6 | 6 | 10 | 18 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 |
| --- | --- | --- |
| Promoters | 66.71% | 66.72% |
| DIIs | 22.17% | 22.17% |
| Public | 11.13% | 11.11% |
| No. of Shareholders | 3399 | 3547 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 66.48% | 66.71% | 66.71% | 66.71% | 66.71% | 66.72% | 66.72% | 66.72% |
| DIIs | 22.17% | 22.17% | 22.17% | 22.17% | 22.17% | 22.17% | 22.17% | 22.17% |
| Public | 11.35% | 11.13% | 11.13% | 11.13% | 11.13% | 11.11% | 11.11% | 11.11% |
| No. of Shareholders | 3029 | 3103 | 3362 | 3399 | 3521 | 3638 | 3348 | 3547 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 7 Sep 2018 - Insulators Ltd has now informed regarding Record Date in the matter of Capital Reduction approved by Hon'ble BIFR. | [Corporate Action - Reduction of Capital 7 Sep 2018 - Insulators Ltd has now informed regarding Record Date in the matter of Capital Reduction approved by Hon'ble BIFR.](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/9/8147A789_09AF_4A80_A737_A7B1AB900971_194342.pdf) |
| 18 Apr 2018 - We are sending herewith Compliance Certificate for the half-year ended 31st March, 2018 under Regulation 40(9) of SEBI (LODR) Regulations, 2015. | [Compliance Certificate For The Half-Year Ended 31St March, 2018 18 Apr 2018 - We are sending herewith Compliance Certificate for the half-year ended 31st March, 2018 under Regulation 40(9) of SEBI (LODR) Regulations, 2015.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=be39c9ce-eebc-47d0-86ae-89c2c86af0df.pdf) |
| 18 Apr 2018 - Compliance Certificate from M/s. Maheshwari Datamatics Pvt. Ltd., Registrar & Transfer Agent, under Regulation 7(3) of the SEBI (LODR) Regulations, 2015, for the period from … | [Compliance Certificate For The Period Ended 31St March,2018 18 Apr 2018 - Compliance Certificate from M/s. Maheshwari Datamatics Pvt. Ltd., Registrar & Transfer Agent, under Regulation 7(3) of the SEBI (LODR) Regulations, 2015, for the period from …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/f21f0e78-6b00-45ed-9691-0fb1011c2d16.pdf) |
| 18 Apr 2018 - Compliance Certificate for the half-year ended 31st March, 2018 under Regulation 40(9) of SEBI (LODR) Regulations, 2015. | [Compliance Certificate For The Half-Year Ended 31St March, 2018 18 Apr 2018 - Compliance Certificate for the half-year ended 31st March, 2018 under Regulation 40(9) of SEBI (LODR) Regulations, 2015.](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/be39c9ce-eebc-47d0-86ae-89c2c86af0df.pdf) |
| 18 Apr 2018 - A Compliance Certificate from M/s. Maheshwari Datamatics Pvt. Ltd., Registrar & Transfer Agent, under Regulation 7(3) of the SEBI (LODR) Regulations, 2015, for the period … | [Compliance Certificate For The Period Ended 31St March,2018 18 Apr 2018 - A Compliance Certificate from M/s. Maheshwari Datamatics Pvt. Ltd., Registrar & Transfer Agent, under Regulation 7(3) of the SEBI (LODR) Regulations, 2015, for the period …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f21f0e78-6b00-45ed-9691-0fb1011c2d16.pdf) |
| 17 Aug 2018 - Insulators Ltd has now informed regarding Record Date for the purpose of giving effect to amalgamation of Modern Terry Towels Ltd with Modern Insulators Ltd … | [Corporate Action - Amalagamation 17 Aug 2018 - Insulators Ltd has now informed regarding Record Date for the purpose of giving effect to amalgamation of Modern Terry Towels Ltd with Modern Insulators Ltd …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/8/6EF54127_48F6_46B7_BA47_E6B7743C1D09_175218.pdf) |
| — | [Fixation Of Record Date For Issuance Of Equity Shares Pursuant To Scheme Of Amalgamation ('Scheme') Of Gloster Limited ('Transferor Company') With Kettlewell Bullen & Company Ltd ('Transferee Company'). 16 Apr 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9cd8b81d-dd22-442a-9595-5a9b95191c9b.pdf) |
| — | [Fixation Of Record Date For Issuance Of Equity Shares Pursuant To Scheme Of Amalgamation ('Scheme') Of Gloster Limited ('Transferor Company') With Kettlewell Bullen & Company Ltd ('Transferee Company'). 16 Apr 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/9cd8b81d-dd22-442a-9595-5a9b95191c9b.pdf) |
| — | [Board Meeting-Outcome of Board Meeting 27 Mar 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=05810ac5-f09e-44f9-96dd-92739bbb7d29.pdf) |
| — | [Board Meeting-Outcome of Board Meeting 27 Mar 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/3/05810ac5-f09e-44f9-96dd-92739bbb7d29.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5385950317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5385950316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5385950315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5385950314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5900850313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5900850312.PDF) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5900850311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/538595/5900850310.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:34.217Z.