---
title: "Grandeur Products Ltd(Merged) (539235) — Share Price, Financials & Analysis"
symbol: "539235"
company: "Grandeur Products Ltd(Merged)"
canonical: "https://tapetide.com/stocks/539235"
isin: "INE545R01010"
bse_code: "539235"
sector: "Fast Moving Consumer Goods"
industry: "Agricultural Food & other Products"
generated_at: "2026-09-13T18:37:43.172Z"
---

# Grandeur Products Ltd(Merged) (539235)

Canonical page: https://tapetide.com/stocks/539235

## Company

- **BSE Code:** 539235
- **ISIN:** INE545R01010
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Agricultural Food & other Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** DELISTED
- **Listed Since:** 2017-02-13
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** grandeurproducts.com

## About

Grandeur Products Limited is engaged in the business of seed research and development, and sales & marketing of related products. [1]

## Latest Price

- **Price:** ₹173.1
- **Change:** 0 (0%)
- **Open:** ₹172.95
- **Day High:** ₹173.1
- **Day Low:** ₹172.95
- **Previous Close:** ₹173.1
- **Volume:** 0
- **As Of:** 2021-12-07T04:29:51+00:00

## Key Insights

### Strengths

- Company is expected to give good quarter
- Debtor days have improved from 94.2 to 49.5 days.

### Weaknesses

- Stock is trading at 8.20 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -1.80% over last 3 years.
- Working capital days have increased from 92.7 days to 191 days

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | -420% | -42% |
| revenue growth | -83% | 73% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4.81 | 23.78 | 72.53 | -3.83 | 12.42 | 17.56 | 64.44 | 13.11 | 7.82 | -28.53 | 34.07 | 5.14 |
| Expenses | 10.92 | 21.58 | 55.47 | 4.14 | 17.39 | 18.29 | 46.82 | 21.37 | 11.63 | -21.06 | 29.14 | 11.06 |
| Operating Profit | -6.11 | 2.2 | 17.06 | -7.97 | -4.97 | -0.73 | 17.62 | -8.26 | -3.81 | -7.47 | 4.93 | -5.92 |
| OPM % | -127.03 | 9.25 | 23.52 | — | -40.02 | -4.16 | 27.34 | -63.01 | -48.72 | — | 14.47 | -115.18 |
| Other Income | 0.04 | 0.1 | 0.01 | 0.04 | 0.17 | 2.57 | 0.06 | 0.07 | 0.04 | 1.37 | 0.06 | 0.05 |
| Interest | 1.37 | 1.15 | 1.05 | 1.17 | 1.59 | 1.8 | 1.85 | 1.71 | 1.81 | 1.59 | 1.88 | 1.96 |
| Depreciation | 0.1 | 0.08 | 0.08 | 0.08 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.04 | 0.06 | 0.06 |
| Profit before tax | -7.54 | 1.07 | 15.94 | -9.18 | -6.45 | -0.03 | 15.76 | -9.97 | -5.65 | -7.73 | 3.05 | -7.89 |
| Tax % | 0.13 | -181.31 | 0 | 0 | 7.44 | -1400 | 29.44 | -27.28 | -21.24 | -26.52 | -0.33 | -12.17 |
| Net Profit | -7.55 | 3.01 | 15.94 | -9.18 | -6.94 | 0.4 | 11.11 | -7.26 | -4.44 | -5.68 | 3.06 | -6.93 |
| EPS in Rs | -3.38 | 1.35 | 7.14 | -4.11 | -3.11 | 0.18 | 4.98 | -2.89 | -1.77 | -2.26 | 1.22 | -2.75 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
| --- | --- | --- | --- | --- | --- |
| Sales | 11 | 106 | 99 | 57 | 18 |
| Expenses | 14 | 98 | 93 | 59 | 31 |
| Operating Profit | -3 | 8 | 6 | -2 | -12 |
| OPM % | -27 | 8 | 6 | -3.4 | -66 |
| Other Income | 1 | 0 | 0 | 2 | 2 |
| Interest | 1 | 4 | 6 | 7 | 7 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -4 | 5 | 0 | -8 | -18 |
| Tax % | -7 | 19 | 22 | -17 | — |
| Net Profit | -3 | 4 | 0 | -6 | -14 |
| EPS in Rs | -2.58 | 1.66 | 0.09 | -2.49 | -5.56 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- |
| Equity Capital | 13 | 22 | 22 | 25 |
| Reserves | 0 | 26 | 26 | 32 |
| Borrowings | 12 | 34 | 62 | 62 |
| Other Liabilities | 60 | 82 | 81 | 43 |
| Total Liabilities | 84 | 164 | 191 | 162 |
| Fixed Assets | 59 | 60 | 84 | 84 |
| CWIP | 0 | 0 | 0 | 2 |
| Investments | 2 | 12 | 1 | 1 |
| Other Assets | 23 | 92 | 106 | 76 |
| Total Assets | 84 | 164 | 191 | 162 |

### Cash Flow

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | -7 | -31 | -12 | 6 |
| Cash from Investing Activity | -53 | 0 | -4 | -2 |
| Cash from Financing Activity | 42 | 30 | 19 | -6 |
| Net Cash Flow | -18 | -1 | 2 | -2 |
| Free Cash Flow | -44 | -31 | -12 | 5 |
| CFO/OP | 224 | -376 | -202 | -318 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- |
| Debtor Days | 132 | 100 | 133 | 50 |
| Inventory Days | 1250 | 229 | 347 | 588 |
| Days Payable | 1687 | 162 | 295 | 194 |
| Cash Conversion Cycle | -305 | 167 | 185 | 443 |
| Working Capital Days | -551 | -8 | 95 | 191 |
| ROCE % | — | 15 | 6 | -1 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 25.33% | 25.33% | 14.32% | 25.63% | 27.23% | 27.23% |
| Public | 69.81% | 69.81% | 82.94% | 71.63% | 70.34% | 70.34% |
| Others | 4.85% | 4.85% | 2.74% | 2.74% | 2.43% | 2.43% |
| No. of Shareholders | 502 | 512 | 508 | 574 | 665 | 870 |

### Quarterly

| Category | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 14.32% | 14.32% | 25.63% | 25.63% | 25.63% | 25.63% | 25.63% | 27.23% | 27.23% | 27.23% | 27.23% | 27.23% |
| Public | 82.94% | 82.94% | 71.63% | 71.63% | 71.63% | 71.63% | 71.63% | 70.34% | 70.34% | 70.34% | 70.34% | 70.34% |
| Others | 2.74% | 2.74% | 2.74% | 2.74% | 2.74% | 2.74% | 2.74% | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
| No. of Shareholders | 511 | 508 | 537 | 566 | 564 | 574 | 582 | 603 | 634 | 665 | 818 | 870 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 30 Jan - Rs.7 interim dividend (INR13,498.2m); Q3 sales INR5,643.5cr; new CFO from 1 Mar 2026; SPV investments up to 26%. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Jan - Rs.7 interim dividend (INR13,498.2m); Q3 sales INR5,643.5cr; new CFO from 1 Mar 2026; SPV investments up to 26%.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b244c9ca-a1d2-41dc-9556-0463dc6fe8f0.pdf) |
| 30 Jan - Q3 results; interim dividend Rs7/share (paid from 26 Feb); record INR 5,643.5cr turnover; CFO appointed effective 1 Mar 2026. | [Approved (In-Principle) Investments In Two Special Purpose Vehicles (Spvs), Subject To Customary Closing Conditions, For Establishing Captive Renewable Energy Power Plants 30 Jan - Q3 results; interim dividend Rs7/share (paid from 26 Feb); record INR 5,643.5cr turnover; CFO appointed effective 1 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/868b31f8-531a-4e12-b603-16228a06b86c.pdf) |
| 30 Jan - Declared Rs7 interim dividend (payable from 26 Feb); Q3 sales INR 5,643.5 crore; CFO appointed effective 1 Mar 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 30 Jan - Declared Rs7 interim dividend (payable from 26 Feb); Q3 sales INR 5,643.5 crore; CFO appointed effective 1 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f6ee4606-f8f3-4a6e-be46-5fcd6d5f76b6.pdf) |
| 25 Feb - Public notice regarding loss of share certificates | [Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Feb - Public notice regarding loss of share certificates](https://www.bseindia.com/xml-data/corpfiling/AttachHis/30b6a46e-c6b2-4c5c-ae92-d515313d765a.pdf) |
| 19 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT') together with the certified … | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement 19 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT') together with the certified …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6929ef77-4687-4b2e-951c-bcb8155f4a79.pdf) |
| 19 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT') together with the certified … | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement 19 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT') together with the certified …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6929ef77-4687-4b2e-951c-bcb8155f4a79.pdf) |
| 18 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT'), today i.e., November 18, … | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement 18 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT'), today i.e., November 18, …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=599dca8e-6192-4bda-bb82-0f6644099573.pdf) |
| 18 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT'), today i.e., November 18, … | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement 18 Nov 2021 - The company has received the certified copy of the order passed by the Hon'ble National Company Law Tribunal, Hyderabad Bench ('NCLT'), today i.e., November 18, …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/599dca8e-6192-4bda-bb82-0f6644099573.pdf) |
| 16h - One-on-one investor meetings on 16 Mar, 17 Mar, 23 Mar 2026 (physical and virtual). | [Intimation Of One-On-One Meet(S) With Institutional Investor(S) 16h - One-on-one investor meetings on 16 Mar, 17 Mar, 23 Mar 2026 (physical and virtual).](https://www.bseindia.com/xml-data/corpfiling/AttachLive/91e24be4-343e-4ad4-91fb-20baa37c5c14.pdf) |
| 15 Nov 2021 - Copies of the newspaper publications for financial results of the Company for the second quarter and half-year ended September 30, 2021. The advertisements were published … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Nov 2021 - Copies of the newspaper publications for financial results of the Company for the second quarter and half-year ended September 30, 2021. The advertisements were published …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=35a2215d-2404-4195-bcb1-0c3f246108ad.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2023 | [Concall - Oct 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/51f589ba-8cc4-4dc1-8483-5790d410f3c1.pdf) |
| Mar 2019 | [Concall - Mar 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/39f0ab5a-4bca-49c8-b94d-1f8d23894565.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cce29c06-5e1f-4c2a-9585-327e6d47710c.pdf) |
| Feb 2023 | [Concall - Feb 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/57b18a55-2938-4a2d-be61-e5c4f0cbc195.pdf) |
| Feb 2022 | [Concall - Feb 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2a7e2d99-1b7b-4105-ade8-c861660ea776.pdf) |
| Aug 2022 | [Concall - Aug 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c76ed253-7075-4364-97ae-7040bd89009a.pdf) |
| Aug 2019 | [Concall - Aug 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6daa0869-6102-480c-a5ed-6989f1a5ac5a.pdf) |
| Apr 2024 | [Concall - Apr 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c7a9fd0e-2d40-4a71-b421-2882033e2aea.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e5d14b70-7e0c-4ecc-8a8e-74ccd0214e39.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9e88129a-3672-4a4b-b840-a88568c49369.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e4b5f094-a03f-4989-9447-52a43d69ecb8.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/500790/72944500790.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/539235/70191539235.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/500790/68403500790.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/539235/67134539235.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/500790/5007901219.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/539235/5392350319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/500790/5007901218.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 2026-09-13T18:37:43.172Z.