---
title: "GRUH Finance Ltd(Merged) (GRUH) — Share Price, Financials & Analysis"
symbol: "GRUH"
company: "GRUH Finance Ltd(Merged)"
canonical: "https://tapetide.com/stocks/GRUH"
isin: "INE580B01029"
nse_symbol: "GRUH"
generated_at: "2026-09-13T21:47:24.798Z"
---

# GRUH Finance Ltd(Merged) (GRUH)

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

## Company

- **NSE Symbol:** GRUH
- **ISIN:** INE580B01029
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** gruh.com

## About

GRUH Finance's principal business is to provide loans for purchase or construction of residential houses. The business is conducted through its branches in India and is supported by a network of Referral Associates for sourcing loans as well as deposits.(Source : 201903 Annual Report Page No: 86)

## Latest Price

## Key Insights

### Strengths

- Company has delivered good profit growth of 20.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
- Company has been maintaining a healthy dividend payout of 32.4%
- Company's median sales growth is 20.0% of last 10 years

### Weaknesses

- Stock is trading at 12.3 times its book value
- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 6% | 22% | 20% |
| revenue growth | 21% | 17% | 19% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 367 | 381 | 416 | 404 | 416 | 433 | 444 | 451 | 481 | 538 | 558 | 533 |
| Expenses | 36 | 54 | 25 | 37 | 53 | 50 | 2 | 31 | 44 | 30 | 4 | 27 |
| Operating Profit | 332 | 327 | 391 | 367 | 363 | 382 | 442 | 420 | 437 | 509 | 553 | 505 |
| OPM % | 90 | 86 | 94 | 91 | 87 | 88 | 99 | 93 | 91 | 94 | 99 | 95 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 235 | 230 | 231 | 237 | 242 | 252 | 253 | 263 | 290 | 373 | 374 | 349 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 |
| Profit before tax | 96 | 97 | 160 | 130 | 120 | 130 | 188 | 156 | 146 | 135 | 178 | 154 |
| Tax % | 35 | 34 | 31 | 26 | 27 | 30 | 32 | 26 | 28 | 28 | 27 | 25 |
| Net Profit | 62 | 64 | 110 | 96 | 88 | 91 | 128 | 115 | 105 | 97 | 130 | 116 |
| EPS in Rs | 0.85 | 0.88 | 1.51 | 1.31 | 1.2 | 1.24 | 1.75 | 1.57 | 1.44 | 1.32 | 1.77 | 1.58 |

### Profit & Loss

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

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 360 | 508 | 648 | 846 | 1060 | 1275 | 1487 | 1694 | 2027 | 2110 |
| Expenses | 33 | 39 | 47 | 56 | 80 | 103 | 123 | 139 | 107 | 106 |
| Operating Profit | 327 | 469 | 601 | 790 | 980 | 1172 | 1364 | 1555 | 1920 | 2004 |
| OPM % | 91 | 92 | 93 | 93 | 92 | 92 | 92 | 92 | 95 | 95 |
| Other Income | 1 | 6 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 201 | 310 | 404 | 544 | 678 | 807 | 920 | 985 | 1301 | 1386 |
| Depreciation | 2 | 2 | 2 | 2 | 1 | 3 | 3 | 3 | 3 | 5 |
| Profit before tax | 126 | 163 | 197 | 244 | 301 | 362 | 442 | 567 | 615 | 613 |
| Tax % | 27 | 26 | 26 | 28 | 32 | 33 | 33 | 29 | 27 | — |
| Net Profit | 92 | 120 | 146 | 177 | 204 | 244 | 297 | 403 | 447 | 448 |
| EPS in Rs | 1.3 | 1.7 | 2.04 | 2.46 | 2.8 | 3.35 | 4.07 | 5.51 | 6.1 | 6.11 |
| Dividend Payout % | 42 | 34 | 31 | 31 | 36 | 34 | 34 | 30 | 33 | — |

### Balance Sheet

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 35 | 35 | 35 | 36 | 36 | 73 | 73 | 73 | 73 | 147 |
| Reserves | 230 | 283 | 350 | 455 | 571 | 639 | 763 | 1040 | 1482 | 1745 |
| Borrowings | 2323 | 2962 | 3829 | 4911 | 6480 | 8207 | 10259 | 12055 | 13969 | 16507 |
| Other Liabilities | 80 | 110 | 121 | 198 | 156 | 262 | 349 | 417 | 261 | 267 |
| Total Liabilities | 2668 | 3390 | 4336 | 5600 | 7243 | 9181 | 11443 | 13586 | 15785 | 18666 |
| Fixed Assets | 10 | 12 | 12 | 12 | 11 | 14 | 15 | 14 | 15 | 15 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 33 | 35 | 24 | 65 | 53 | 80 | 143 | 158 | 158 | 148 |
| Other Assets | 2625 | 3343 | 4300 | 5523 | 7179 | 9087 | 11285 | 13414 | 15612 | 18503 |
| Total Assets | 2668 | 3390 | 4336 | 5600 | 7243 | 9181 | 11443 | 13586 | 15785 | 18666 |

### Cash Flow

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 6 | — | — | — | — | — | — | — | — | — |
| Cash from Investing Activity | -2 | — | — | — | — | — | — | — | — | — |
| Cash from Financing Activity | 60 | — | — | — | — | — | — | — | — | — |
| Net Cash Flow | 64 | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 5 | — | — | — | — | — | — | — | — | — |
| CFO/OP | 12 | — | — | — | — | — | — | — | — | — |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -63 | 156 | 165 | 176 | 166 | 151 | 149 | 185 | -41 | -35 |
| ROCE % | 11 | 11 | 13 | 12 | 13 | 12 | 12 | 11 | 11 | 11 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- |
| Promoters | 58.45% | 57.93% | 56.09% | 47.43% |
| FIIs | 11.34% | 10.83% | 10.76% | 18.74% |
| DIIs | 8.26% | 10.23% | 10.31% | 11.83% |
| Government | 0.27% | 0.27% | 0.27% | 0.27% |
| Public | 21.68% | 20.73% | 22.56% | 21.73% |
| No. of Shareholders | 40525 | 47181 | 73434 | 72213 |

### Quarterly

| Category | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.55% | 58.55% | 58.45% | 58.36% | 57.99% | 57.95% | 57.93% | 57.93% | 57.86% | 57.83% | 56.09% | 47.43% |
| FIIs | 14.22% | 10.96% | 11.34% | 11.09% | 11.56% | 11.49% | 10.83% | 10.58% | 10.47% | 10.58% | 10.76% | 18.74% |
| DIIs | 4.51% | 8.1% | 8.26% | 8.6% | 8.91% | 9.19% | 10.23% | 10.29% | 10.51% | 10.58% | 10.31% | 11.83% |
| Government | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% |
| Public | 22.44% | 22.12% | 21.68% | 21.68% | 21.27% | 21.1% | 20.73% | 20.92% | 20.89% | 20.74% | 22.56% | 21.73% |
| No. of Shareholders | 41054 | 42028 | 40525 | 43385 | 43697 | 43812 | 47181 | 57107 | 61108 | 64837 | 73434 | 72213 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 7 / 4 / 8

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 17.68 | Buy |
| EMA (10) | 17.9 | Buy |
| SMA (20) | 17.84 | Buy |
| EMA (20) | 18 | Buy |
| SMA (50) | 18.95 | Sell |
| EMA (50) | 18.79 | Buy |
| SMA (100) | 20.1 | Sell |
| EMA (100) | 19.52 | Sell |
| SMA (200) | 20.53 | Sell |
| EMA (200) | 20.06 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 54.22 | Neutral |
| MACD (12,26,9) | -0.26 | Buy |
| Stochastic (14,3,3) | 74.8 | Neutral |
| ADX (14) | 23.17 | Neutral |
| Williams %R (14) | -0.28 | Sell |
| ATR (14) | 1.58 | High Volatility |
| ROC (12) | 11.41 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 75.3 | Sell |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a09d1fc9-ef7b-4a9f-8ce4-928665025465.pdf) |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/10/a09d1fc9-ef7b-4a9f-8ce4-928665025465.pdf) |
| Oct 2017 | [Concall - Oct 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c9e7df0-58bf-4a16-8239-de699f9d768a.pdf) |
| Oct 2017 | [Concall - Oct 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/10/7c9e7df0-58bf-4a16-8239-de699f9d768a.pdf) |
| Oct 2016 | [Concall - Oct 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9B6AA421_F5E6_4DBC_A824_BBBFBE539561_170310.pdf) |
| May 2019 | [Concall - May 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2fdb3e93-aec9-4edd-af20-91b0cdff0399.pdf) |
| May 2019 | [Concall - May 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2fdb3e93-aec9-4edd-af20-91b0cdff0399.pdf) |
| Jul 2019 | [Concall - Jul 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d720d0d5-cc19-4071-8209-f2dd30c88f00.pdf) |
| Jul 2019 | [Concall - Jul 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d720d0d5-cc19-4071-8209-f2dd30c88f00.pdf) |
| Jul 2018 | [Concall - Jul 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=59de7232-3fe4-4bde-b6d3-99a9c4da2804.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/AR_14573_GRUH_2018_2019_21062019192555_21062019200008.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/AR_12386_GRUH_2017_2018_30052018221336.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/AR_10711_GRUH_2016_2017_16062017130327.zip) |
| from nse | [Annual Report 2016 from nse](https://archives.nseindia.com/annual_reports/AR_8871_GRUH_2015_2016_11072016160319.zip) |
| from nse | [Annual Report 2015 from nse](https://archives.nseindia.com/annual_reports/AR_6284_GRUH_2014_2015_03072015154759.zip) |
| from nse | [Annual Report 2014 from nse](https://archives.nseindia.com/annual_reports/AR_3278_GRUH_2013_2014_05052014110901.zip) |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_791_GRUH_2012_2013_29072013120920.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_GRUH_2011_2012_28062012121729.zip) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport//5112880319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport//5112880318.pdf) |

---

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 2026-09-13T21:47:24.798Z.