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Godrej Industries

GODREJIND NSE

Key Fundamentals

SmallcapDiversified GroupDiversified
Market Cap
₹37,156 Cr
Volatility
Moderate
P/E Ratio
32.29
EBITDA
₹5,985 Cr
Return on Equity
10.4%
Debt to Equity
4.61
Book Value
₹331.79
EPS
₹6.07
52W High
₹1,443
52W Low
₹744.2

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

5
  • Stock is trading at 3.40 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 6.70% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.3,808 Cr.

Growth Rate

Revenue Growth
18.5% higher than 3Y
Net Income Growth
29.8% higher than 3Y
Cash Flow Change
-71.91% higher than 3Y
ROE
19.54% higher than 3Y
ROCE
21.37% lower than 3Y
EBITDA Margin (Avg.)
15.72% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Godrej Industries Ltd, a diversified conglomerate with a market cap of ₹37,156 Cr, trades at a PE of 17.1x and PB of 3.39x. The company has delivered 17% TTM sales growth and 19% TTM profit growth, but carries a low 3-year average ROE of approximately 6.7% and pays zero dividend despite reporting repeated profits.

Bull Case 7
  • Strong TTM sales growth of 17% indicates improving revenue momentum across the group's diversified businesses
  • TTM profit growth of 19% outpaces sales growth, suggesting operating leverage and margin expansion
  • Long-term compounded profit growth of 21% over 10 years demonstrates a sustained earnings trajectory
  • 5-year compounded profit CAGR of 26% reflects a significant acceleration in earnings over the medium term
  • PE ratio of 17.1x is moderate for a diversified conglomerate, with the 10-year sales CAGR of 12% providing a reasonable growth backdrop
  • 3-year stock CAGR of 27% has significantly outperformed the 10-year CAGR of 10%, reflecting recent re-rating by the market
  • ROE has improved from a 3-year average of 7% to 9% in the last year, indicating a positive direction in capital efficiency
Bear Case 8
  • 3-year average ROE of approximately 6.7% is well below the 12-15% threshold typically expected of quality compounders
  • Other income of ₹3,808 Cr forms a substantial portion of earnings, raising questions about the sustainability and quality of core operating profits
  • Zero dividend yield despite repeated profitability suggests either heavy reinvestment needs or poor free cash flow conversion
  • Stock trades at 3.39x book value, which is elevated given the low single-digit ROE — a PB above 3x typically demands ROE well above 15%
  • Potential capitalization of interest costs may be understating true operating expenses and inflating reported profits
  • 1-year stock return of -7% signals recent negative sentiment or earnings disappointment relative to expectations
  • 3-year compounded profit CAGR of only 5% contrasts sharply with the 10-year figure of 21%, pointing to earnings volatility in the recent period
  • 5-year compounded sales CAGR of 19% is substantially higher than the 3-year figure of 10%, indicating a deceleration in top-line growth

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 2
  • ₹2,000 cr private credit fund Aug 18

    Godrej Industries launched a Category-II AIF targeting ₹2,000 crore (₹1,000 cr base + ₹1,000 cr greenshoe) focused on secured lending to established mid-market companies. This expands the group's financial services portfolio beyond lending and wealth management.

  • ₹20,000 cr Haryana investment MoU Aug 24

    Godrej Industries Group signed an MoU with Haryana to invest ₹20,000 crore and create 40,000 jobs. Godrej Properties will deploy ₹16,000 cr by FY28 and Godrej Ventures will invest ₹3,500 cr in Grade A+ office infrastructure in Gurugram.

Neutral 1
  • Pirojsha Godrej reappointment sought Aug 21

    Godrej Industries issued a postal ballot seeking shareholder approval for Pirojsha Godrej's re-designation as Executive Chairperson for a five-year tenure starting August 2026, with fixed, variable, and flexible compensation components.

TL;DR: Godrej Industries is in expansion mode, committing ₹20,000 crore to Haryana real estate and infrastructure while diversifying into private credit with a ₹2,000 crore AIF launch. No material headwinds surfaced this week. The leadership transition under Pirojsha Godrej appears smooth, with aggressive capital deployment signaling confidence in the group's growth trajectory across real estate and financial services.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,506
3,938
3,590
4,567
4,248
4,805
4,825
5,780
4,460
5,032
5,051
7,694
5,448
Expenses
4,264
3,672
3,311
4,511
3,914
4,230
4,228
5,186
4,063
4,898
4,507
6,527
4,873
Operating Profit
242
266
279
56
334
575
597
593
397
134
544
1,167
575
OPM %
5%
7%
8%
1.2%
8%
12%
12%
10%
9%
2.7%
11%
15%
11%
Other Income
532
397
380
536
1,072
439
436
695
1,352
1,294
694
784
1,036
Interest
303
333
348
369
433
477
505
542
576
584
626
684
745
Depreciation
86
89
96
100
101
108
111
110
114
121
126
141
133
PBT
386
240
216
122
873
429
417
635
1,059
723
486
1,126
732
Tax %
24%
32%
24%
121%
27%
-14%
25%
34%
31%
32%
27%
25%
29%
Net Profit
291
164
165
-25
641
489
312
416
725
493
353
841
523
EPS in Rs
5.29
2.59
3.16
-9.26
9.58
8.54
5.59
5.44
10.37
7.2
6.07
13.19
8.44
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
9,101
7,454
8,365
9,076
10,848
11,291
9,334
14,130
16,740
16,601
19,657
22,237
23,225
Expenses
8,615
7,061
7,708
8,805
10,233
10,479
9,020
13,083
15,230
15,406
17,553
19,995
20,806
Operating Profit
487
392
657
271
615
812
314
1,047
1,510
1,195
2,104
2,242
2,419
OPM %
5%
5%
8%
3%
6%
7%
3.4%
7%
9%
7%
11%
10%
10%
Other Income
317
255
520
915
1,142
996
1,015
1,132
1,418
1,493
2,636
4,123
3,808
Interest
192
343
402
413
508
491
469
623
943
1,352
1,957
2,470
2,639
Depreciation
93
117
148
175
163
234
242
274
305
371
430
501
521
PBT
519
187
626
597
1,086
1,083
617
1,282
1,681
964
2,353
3,393
3,067
Tax %
26%
58%
27%
19%
20%
25%
37%
23%
15%
38%
21%
29%
—
Net Profit
589
323
459
484
864
812
391
992
1,421
595
1,858
2,412
2,210
EPS in Rs
11.98
4.78
7.63
10.05
17.53
16.46
9.94
19.42
28.96
1.78
29.14
36.83
34.9
Div. Payout %
15%
37%
23%
17%
7%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
34
34
34
34
34
34
34
34
34
34
34
34
Reserves
3,194
2,968
3,162
3,301
4,313
5,755
7,520
7,093
7,951
7,968
10,118
11,143
Borrowings
5,885
7,200
7,554
6,918
7,116
7,275
10,071
14,506
19,642
28,996
38,088
51,564
Other Liabilities
4,392
3,931
4,241
6,500
6,530
7,143
11,157
12,202
16,117
24,331
39,488
63,160
Total Liabilities
13,504
14,133
14,991
16,753
17,993
20,207
28,781
33,835
43,744
61,329
87,728
1,25,901
Fixed Assets
1,837
2,828
3,281
3,302
3,824
4,049
4,520
4,971
5,269
6,365
6,954
7,333
CWIP
775
274
54
271
202
334
444
483
942
462
258
432
Investments
2,691
3,052
3,203
4,137
5,473
6,594
9,952
9,609
8,009
8,669
11,165
11,247
Other Assets
8,202
7,979
8,452
9,042
8,494
9,229
13,866
18,772
29,525
45,832
69,350
1,06,889
Total Assets
13,504
14,133
14,991
16,753
17,993
20,207
28,781
33,835
43,744
61,329
87,728
1,25,901
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-1,050
199
569
1,689
1,240
392
-672
-1,756
-4,409
-4,284
-5,151
-8,855
Investing
-459
-185
-234
-1,016
-1,360
-1,874
-5,147
46
1,851
-2,646
-4,562
244
Financing
1,409
2
-528
-959
1,056
1,349
5,772
1,916
3,535
7,219
10,689
8,056
Net Cash Flow
-99
16
-193
-286
936
-133
-47
206
977
288
976
-555
Free Cash Flow
-1,533
-159
300
1,221
836
11
-1,399
-2,256
-5,150
-5,471
-5,912
-9,417
CFO/OP
-179
90
125
683
227
64
-179
-132
-273
-321
-222
-367
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
25
42
40
40
39
50
60
43
33
28
30
33
Inventory Days
325
437
356
299
161
171
594
335
913
1,952
10,759
—
Days Payable
109
103
120
101
88
117
327
162
318
398
1,622
—
Cash Conversion Cycle
241
376
276
238
111
104
327
217
627
1,581
9,168
33
Working Capital Days
13
-37
-42
-137
-116
-85
-12
-15
-24
-36
17
-64
ROCE %
5%
4%
8%
7%
11%
10%
5%
8%
8%
6%
8%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs3.47%Promot.74.64%Public3.87%FIIs4.57%Others13.46%As ofJun 2026

Documents

1
Concall - May 2026 May 2026
2
Concall - May 2026 May 2026
3
Concall - Nov 2025 Nov 2025
4
Concall - Aug 2025 Aug 2025
5
Concall - May 2025 May 2025

Frequently Asked Questions about Godrej Industries

What does Godrej Industries Ltd do?
Godrej Industries is one of the holding companies of Godrej Group. It is one of the leading manufacturers of oleochemicals on a standalone basis. Godrej Industries is promoter of Godrej Agrovet Ltd and Godrej Properties Ltd. It also has stake in Godrej Consumer Products Ltd [1].
Where is Godrej Industries Ltd (GODREJIND) listed?
Godrej Industries Ltd trades as GODREJIND on the NSE and under code 500164 on the BSE.
Which sector does Godrej Industries Ltd belong to?
Godrej Industries Ltd is classified under the Diversified sector, in the Diversified Group industry.
What is the market capitalisation of Godrej Industries Ltd?
Godrej Industries Ltd has a market capitalisation of ₹37,156 Cr, which places it in the Large Cap band.
What is the PE ratio of Godrej Industries Ltd?
Godrej Industries Ltd trades at a PE ratio of 32.29, on earnings per share of ₹6.07, against a book value of ₹331.79 per share.
What is the 52-week high and low of Godrej Industries Ltd?
Over the last 52 weeks Godrej Industries Ltd has traded between ₹744.2 and ₹1,443.
What is the Return on Equity (ROE) of Godrej Industries Ltd?
Godrej Industries Ltd reported a return on equity of 10.40%. Its debt-to-equity ratio is 4.61.

Company Information

Godrej Industries is one of the holding companies of Godrej Group. It is one of the leading manufacturers of oleochemicals on a standalone basis. Godrej Industries is promoter of Godrej Agrovet Ltd and Godrej Properties Ltd. It also has stake in Godrej Consumer Products Ltd [1].

Website godrejindustries.com
CEO Mr. Nadir Burjorji Godrej B.S., M.S.
Employees 1,148
Listed 2003-02-25
Face Value ₹ 1
Issued Size 33,68,04,842

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