---
title: "Gretex Industries Ltd (GRETEX) — Share Price, Financials & Analysis"
symbol: "GRETEX"
company: "Gretex Industries Ltd"
canonical: "https://tapetide.com/stocks/GRETEX"
isin: "INE985P01012"
nse_symbol: "GRETEX"
sector: "Media"
industry: "Media & Entertainment"
market_cap_cr: 349.12
generated_at: "2026-09-13T19:33:19.400Z"
---

# Gretex Industries Ltd (GRETEX)

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

## Company

- **NSE Symbol:** GRETEX
- **ISIN:** INE985P01012
- **Sector:** Media
- **Industry:** Media & Entertainment
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2016-10-14
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** gretexindustries.com

## About

Gretex Industries Limited is a Kolkata-based wholesale/retail distributor of musical instruments, professional audio/AV equipment and accessories, with 23+ brand partnerships, 5,500+ products and multi-channel sales through retail, dealers, institutions/B2B and online.[1]

## Latest Price

- **Price:** ₹215
- **Change:** -10.15 (-4.51%)
- **Open:** ₹214
- **Day High:** ₹215
- **Day Low:** ₹214
- **Previous Close:** ₹225.15
- **Volume:** 1500
- **As Of:** 2026-09-11T06:34:48+00:00

## Key Fundamentals

Observed at 2026-09-11T04:38:54.919600Z.

- **Market Cap:** ₹349.12 Cr
- **Classification:** SME
- **P/E (reported):** 261.8
- **Book Value:** ₹33.52
- **Price to Book:** 6.72
- **Dividend Yield:** 0%
- **ROE:** 5.31%
- **ROCE:** 6.13%
- **Debt to Equity:** 0.01
- **Revenue (yearly):** ₹55.71 Cr
- **Net Income:** ₹0.89 Cr
- **EBITDA:** ₹0.97 Cr
- **52-Week High:** ₹304
- **52-Week Low:** ₹180.5
- **RSI (14):** 30.68

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 26.7 to 19.0 days.

### Weaknesses

- Stock is trading at 6.41 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 4.92% over last 3 years.
- Earnings include an other income of Rs.1.29 Cr.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 100.37% | -92.5% | 116.67% |
| ebitda margin growth | -205.88% | -65.93% | -94.14% | -49.7% |
| net income growth | -192.31% | -40.67% | 30% | 23% |
| revenue growth | -41.86% | 50.98% | 30% | 42% |
| roce | -236.3% | -88.8% | -67.18% | 19.82% |
| roe | -192.25% | -86.77% | 19.58% | -21.45% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 6.59 | 5.32 | 7.74 | 11.87 | 10.87 | 17.74 | 17.01 | 18.26 | 19.17 | 28.11 | 27.6 |
| Expenses | 6.3 | 5.22 | 7.68 | 11.54 | 10.31 | 17.08 | 16.99 | 18.24 | 18.55 | 27.55 | 27.23 |
| Operating Profit | 0.29 | 0.1 | 0.06 | 0.33 | 0.56 | 0.66 | 0.02 | 0.02 | 0.62 | 0.56 | 0.37 |
| OPM % | 4.4 | 1.88 | 0.78 | 2.78 | 5.15 | 3.72 | 0.12 | 0.11 | 3.23 | 1.99 | 1.34 |
| Other Income | 0.1 | 0.09 | 0.2 | 0.23 | -0.13 | 0.25 | 12.9 | 0.71 | 1.59 | 1.74 | -0.42 |
| Interest | 0.01 | 0 | 0.04 | 0.05 | 0.02 | 0.09 | 0.2 | 0.1 | 0.36 | 0.21 | 0.08 |
| Depreciation | 0.02 | 0.02 | 0.02 | 0.01 | 0.02 | 0.04 | 0.04 | 0.04 | 0.27 | 0.37 | 0.48 |
| Profit before tax | 0.36 | 0.17 | 0.2 | 0.5 | 0.39 | 0.78 | 12.68 | 0.59 | 1.58 | 1.72 | -0.61 |
| Tax % | 0 | 0 | -85 | 0 | 56.41 | 26.92 | 25.32 | 25.42 | -14.56 | 27.91 | -114.75 |
| Net Profit | 0.36 | 0.17 | 0.37 | 0.5 | 0.17 | 0.57 | 9.47 | 0.44 | 1.8 | 1.23 | 0.1 |
| EPS in Rs | 0.85 | 0.4 | 0.88 | 1.19 | 0.4 | 1.35 | 22.27 | 0.3 | 1.19 | 0.81 | 0.09 |

### Profit & Loss

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

| Item | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3.71 | 2.38 | 9.62 | 13.06 | 25.27 | 34.74 | 35.76 | 55.71 |
| Expenses | 2.71 | 2.22 | 8.74 | 12.89 | 24.38 | 34.04 | 35.08 | 54.75 |
| Operating Profit | 1 | 0.16 | 0.88 | 0.17 | 0.89 | 0.7 | 0.68 | 0.96 |
| OPM % | 26.95 | 6.72 | 9.15 | 1.3 | 3.52 | 2.01 | 1.9 | 1.72 |
| Other Income | 0.04 | -1.56 | -1 | 0.28 | 0.1 | 13.16 | 1.18 | 1.29 |
| Interest | 0.21 | 0.16 | 0.01 | 0.04 | 0.07 | 0.32 | 0.5 | 0.29 |
| Depreciation | 0.45 | 0.5 | 0.07 | 0.05 | 0.04 | 0.09 | 0.09 | 0.85 |
| Profit before tax | 0.38 | -2.06 | -0.2 | 0.36 | 0.88 | 13.45 | 1.27 | 1.11 |
| Tax % | 36.84 | -22.82 | 55 | -47.22 | 23.86 | 25.43 | -18.9 | -19.82 |
| Net Profit | 0.24 | -1.59 | -0.32 | 0.54 | 0.66 | 10.04 | 1.52 | 1.33 |
| EPS in Rs | 0.76 | -3.78 | -0.76 | 1.28 | 1.52 | 23.63 | 0.96 | 0.9 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3.16 | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 | 14.81 | 15.51 |
| Reserves | 0.3 | -0.39 | -0.73 | -0.19 | 0.46 | 19.38 | 10.2 | 36.47 |
| Borrowings | 2.71 | 1.16 | 0.03 | 0.82 | 4.44 | 1.05 | 8.04 | 0.76 |
| Other Liabilities | 0.66 | 0.45 | 0.89 | 1.15 | 1.56 | 6.78 | 8.68 | 13.17 |
| Total Liabilities | 6.83 | 5.43 | 4.4 | 5.99 | 10.67 | 31.42 | 41.73 | 65.91 |
| Fixed Assets | 3.8 | 1.33 | 0.08 | 0.05 | 0.71 | 6.75 | 15.15 | 26.51 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.69 | 0.57 | 0 | 0 | 0.02 | 7.14 | 1.16 | 8.05 |
| Other Assets | 2.34 | 3.53 | 4.32 | 5.94 | 9.94 | 17.53 | 25.42 | 31.35 |
| Total Assets | 6.83 | 5.43 | 4.4 | 5.99 | 10.67 | 31.42 | 41.73 | 65.91 |

### Cash Flow

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

| Item | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.05 | -2.28 | -0.18 | -0.28 | 0.4 | -8.01 | 0.03 | 2.86 |
| Cash from Investing Activity | -0.36 | 1.12 | 0.16 | 0.38 | -0.68 | 9.26 | -0.26 | -16.86 |
| Cash from Financing Activity | 0.38 | 1.12 | -0.04 | -0.04 | -0.07 | -0.28 | -0.48 | 15.79 |
| Net Cash Flow | 0.06 | -0.04 | -0.05 | 0.06 | -0.36 | 0.97 | -0.71 | 1.79 |
| Free Cash Flow | 0.02 | -1.56 | -0.01 | -0.29 | -0.3 | -8.03 | -0.19 | 2.17 |
| CFO/OP | 5 | -1425 | -20 | -165 | 45 | -1147 | 441 | 340 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 125.93 | 177.9 | 37.56 | 28.23 | 30.91 | 29.52 | 31.64 | 19 |
| Inventory Days | 74.17 | 417.83 | 86.86 | 108.94 | 60.48 | 61.49 | 142.65 | 117.89 |
| Days Payable | 54.65 | 105.66 | 34.23 | 19.24 | 7.87 | 15.52 | 50.2 | 63.41 |
| Cash Conversion Cycle | 145.45 | 490.07 | 90.19 | 117.93 | 83.52 | 75.5 | 124.09 | 73.48 |
| Working Capital Days | 16.73 | 346.6 | 107 | 97.82 | 26.43 | 100.76 | 116.77 | 122.58 |
| ROCE % | — | -7 | — | 9.21 | 12.97 | 8 | 5.3 | 3.01 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 52.99% | 52.99% | 52.99% | 52.99% | 52.99% | 63.4% | 63.64% | 63.64% | 63.39% | 63.39% | 64.95% | 64.95% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.21% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.17% | 0.17% | 0.17% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 18.95% | 13.68% | 14.67% | 14.82% | 14.39% | 20.06% | 20.11% | 20.12% | 19.88% | 19.88% | 19.31% | 18.37% |
| Others | 28.07% | 33.34% | 32.34% | 32.2% | 32.62% | 16.54% | 16.25% | 16.24% | 16.72% | 16.56% | 15.36% | 16.51% |
| No. of Shareholders | 54 | 54 | 55 | 56 | 60 | 107 | 144 | 145 | 156 | 204 | 218 | 272 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 6 / 1 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 256.78 | Sell |
| EMA (10) | 246.86 | Sell |
| SMA (20) | 273.18 | Sell |
| EMA (20) | 260.13 | Sell |
| SMA (50) | 273.65 | Sell |
| EMA (50) | 262.82 | Sell |
| SMA (100) | 242.84 | Sell |
| EMA (100) | 250.81 | Sell |
| SMA (200) | 235.21 | Sell |
| EMA (200) | 220.09 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 27.96 | Buy |
| MACD (12,26,9) | -12.09 | Sell |
| Stochastic (14,3,3) | 0.39 | Buy |
| ADX (14) | 27.11 | Buy |
| Williams %R (14) | -98.84 | Buy |
| ATR (14) | 9.46 | High Volatility |
| ROC (12) | -21.82 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 16.71 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Postal ballot seeks approval to sell three subsidiaries for up to ₹26.90 crore and revise preferential issue use. | [Shareholders meeting 9 Sep - Postal ballot seeks approval to sell three subsidiaries for up to ₹26.90 crore and revise preferential issue use.](https://nsearchives.nseindia.com/corporate/GRETEX_09092026191109_Postal_Ballot_Notice_dated_04092026.pdf) |
| 9 April 2026 - Submitted Regulation 74(5) certificate for quarter and FY ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Submitted Regulation 74(5) certificate for quarter and FY ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/GRETEX_09042026131120_cerificate.pdf) |
| 6 July 2026 - Promoter declared no encumbrance on 1,00,70,680 shares, 64.95% holding, as of 31-03-2026. | [Disclosure under SEBI Takeover Regulations 6 July 2026 - Promoter declared no encumbrance on 1,00,70,680 shares, 64.95% holding, as of 31-03-2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_30062026115436_GIL_Disclosure.pdf) |
| 4 Sep - Gretrex signed SPA on 25 Aug 2026 to acquire 98% of Arpan Tie Up Pvt Ltd, making it a subsidiary. | [General Updates 4 Sep - Gretrex signed SPA on 25 Aug 2026 to acquire 98% of Arpan Tie Up Pvt Ltd, making it a subsidiary.](https://nsearchives.nseindia.com/corporate/GRETEX_04092026192309_Intimation_under_Reg_30_SPA.pdf) |
| 4 Sep - Board approved sale of stakes in three subsidiaries on September 4, 2026, totaling up to ₹26.90 crore. | [Outcome of Board Meeting 4 Sep - Board approved sale of stakes in three subsidiaries on September 4, 2026, totaling up to ₹26.90 crore.](https://nsearchives.nseindia.com/corporate/GRETEX_04092026184325_Outcome_of_BM_04092026.pdf) |
| 4 Sep - Board approved sale of stakes in three subsidiaries for up to ₹26.90 crore, subject to shareholder postal ballot approval. | [General Updates 4 Sep - Board approved sale of stakes in three subsidiaries for up to ₹26.90 crore, subject to shareholder postal ballot approval.](https://nsearchives.nseindia.com/corporate/GRETEX_04092026192645_Outcome_of_BM.pdf) |
| 4 May 2026 - Board approved FY26 audited results, appointed independent/secretarial/internal auditors, and fixed AGM on 27 July 2026. | [Outcome of Board Meeting 4 May 2026 - Board approved FY26 audited results, appointed independent/secretarial/internal auditors, and fixed AGM on 27 July 2026.](https://nsearchives.nseindia.com/corporate/GRETEX_04052026211302_Outcome_of_Meeting_04052026__1_.pdf) |
| 4 May 2026 - Board approved FY26 audited results, appointed directors/auditors, and set AGM for 27 July 2026. | [Outcome of Board Meeting 4 May 2026 - Board approved FY26 audited results, appointed directors/auditors, and set AGM for 27 July 2026.](https://nsearchives.nseindia.com/corporate/GRETEX_04052026211554_Outcome_of_Meeting_04052026__1_.pdf) |
| 4 May 2026 - Board approved FY26 audited results, appointed directors/auditors, and set AGM for 27 July 2026. | [Outcome of Board Meeting 4 May 2026 - Board approved FY26 audited results, appointed directors/auditors, and set AGM for 27 July 2026.](https://nsearchives.nseindia.com/corporate/GRETEX_04052026212158_Outcome_of_Meeting_04052026__1_.pdf) |
| 4 May 2026 - Board approved FY26 audited results, appointed an independent director and auditors, and set AGM for July 27, 2026. | [Outcome of Board Meeting 4 May 2026 - Board approved FY26 audited results, appointed an independent director and auditors, and set AGM for July 27, 2026.](https://nsearchives.nseindia.com/corporate/GRETEX_04052026210538_Outcome_of_Meeting_04052026__1_.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29558_GRETEX_2025_2026_A_7915908_03072026160020.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27145_GRETEX_2024_2025_A_28072025201623.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26338_GRETEX_2023_2024_18102024155544.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23333_GRETEX_2022_2023_03092023232126_09042023070000.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21551_GRETEX_2021_2022_06092022215042_09062022220008.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19508_GRETEX_2020_2021_06092021182040_09062021190002.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17600_GRETEX_2019_2020_08092020114445_08092020120002.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15646_GRETEX_2018_2019_03092019145444_03092019150005.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13823_GRETEX_2017_2018_29092018183856.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/SME_AR_12026_GRETEX_2016_2017_05102017173715.zip) |

---

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 2026-09-13T19:33:19.400Z.