Gujarat Alkalies & Chemicals
- P/E
- 62.80
Key Fundamentals
MicrocapChemicals & PetrochemicalsChemicalsPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 1.42%
- Debt to Equity
- 0.11
- EPS (TTM)
- ₹9.04
- Book Value
- ₹706.82
- Market Cap
- —
- P/E (TTM)
- 62.80
- P/B
- 0.80
- ROE
- −0.05%
- Dividend Yield
- 3.19%
- EBITDA
- ₹522 Cr
- 52W High
- ₹815.00
- 52W Low
- ₹409.15
- Volume
- 0
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 55
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 52
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 42
- Weak
- Sales & profit trajectory 9% weight
- Financial Health
- 41
- Weak
- Solvency, leverage, coverage 9% weight
- Momentum
- 23
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 35
- Poor
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Stock is trading at 0.84 times its book value
Weaknesses
1- Company has a low return on equity of -1.76% over last 3 years.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 10 | 5 | 4 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bearish | 8 | 0 | 2 |
Oscillators
Neutral
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 43.41
- Neutral
- MACD (12,26,9)
- −20.86
- Bullish
- SMA (50)
- 633.69
- Bearish
- SMA (200)
- 608.62
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +8.13% |
|---|---|
| 5Y | +12.40% |
| 3Y | −1.18% |
| 1Y | +7.00% |
| TTM | +7.07% |
Net profit
| 10Y | Turned to loss |
|---|---|
| 5Y | Turned to loss |
| 3Y | Turned to loss |
| 1Y | Loss narrowed by ₹63 Cr |
| TTM | Turned to profit |
Operating cash flow
| 10Y | +7.28% |
|---|---|
| 5Y | −0.72% |
| 3Y | −24.94% |
| 1Y | +6.56% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −8.00 pp |
|---|---|
| 5Y | −5.91 pp |
| 3Y | −12.22 pp |
| 1Y | +1.94 pp |
| TTM | +3.54 pp |
Revenue by year
| Mar 2017 | ₹2,070 Cr |
|---|---|
| Mar 2018 | ₹2,455 Cr |
| Mar 2019 | ₹3,161 Cr |
| Mar 2020 | ₹2,725 Cr |
| Mar 2021 | ₹2,429 Cr |
| Mar 2022 | ₹3,759 Cr |
| Mar 2023 | ₹4,516 Cr |
| Mar 2024 | ₹3,807 Cr |
| Mar 2025 | ₹4,073 Cr |
| Mar 2026 | ₹4,358 Cr |
Net profit by year
| Mar 2017 | ₹307 Cr |
|---|---|
| Mar 2018 | ₹534 Cr |
| Mar 2019 | ₹690 Cr |
| Mar 2020 | ₹332 Cr |
| Mar 2021 | ₹166 Cr |
| Mar 2022 | ₹560 Cr |
| Mar 2023 | ₹410 Cr |
| Mar 2024 | −₹237 Cr |
| Mar 2025 | −₹65.00 Cr |
| Mar 2026 | −₹2.00 Cr |
AI Analysis — Bull vs Bear
Gujarat Alkalies & Chemicals Ltd (GACL) is a state-promoted commodity chemicals company trading at a market cap of ₹4,450 Cr with a price-to-book of 0.86x, reflecting depressed profitability — the company posted a negative PE of -1846x and a 3-year average ROE of -2%. While FY25 revenue grew 7% YoY to ₹4,073 Cr and net profit turned marginally positive at ₹15.8 Cr (vs a loss of ₹132 Cr in FY24), the recovery remains nascent against a backdrop of heavy capex commitments and weak interest coverage.
- FY25 revenue grew 7% YoY to ₹4,073 Cr, reversing a 3-year compounded sales decline of -1% and indicating demand stabilisation
- Net profit swung from a loss of ₹132 Cr in FY24 to a profit of ₹15.8 Cr in FY25, a turnaround reflected in TTM profit growth of 96%
- Promoter holding increased by 1.00% in the latest quarter, signalling state-government confidence in the business outlook
- Dividend yield of 2.59% provides income support even during a weak earnings cycle
- Board approved ₹1,029 Cr in expansion projects including biofuel/coal boilers at Vadodara and Dahej, plus a new 700 MTPD Caustic Evaporation Unit — one of India's largest — positioning for volume-led recovery
- Expansion into value-added products (High Purity Hydrogen Peroxide, ₹81 Cr investment in 3 new downstream plants) signals a strategic shift up the value chain from pure commodity chemicals
- Renewable energy buildout of 177.6 MW (62.7 MW + 72 MW + 42.9 MW hybrid) under captive SPV should reduce long-term power costs, which stood at ₹1,219 Cr in FY25
- Negative PE ratio of -1846x reflects near-zero profitability; FY25 net profit of ₹15.8 Cr on revenue of ₹4,073 Cr implies a net margin of just 0.4%
- 3-year average ROE of -2% and last-year ROE of approximately 0% indicate the company is barely earning its cost of equity
- Low interest coverage ratio with interest costs rising from ₹44.6 Cr in FY24 to ₹50.5 Cr in FY25, while operating profit was only ₹360 Cr before depreciation of ₹392 Cr
- Depreciation of ₹392 Cr in FY25 nearly matches EBITDA of ₹452 Cr, leaving minimal free cash flow for debt reduction
- Power and fuel costs of ₹1,219 Cr in FY25 (30% of revenue) expose the company to energy price volatility in a commodity business
- 5-year compounded profit growth is negligible (not meaningfully calculable) given the FY24 loss of ₹132 Cr and thin FY25 profit, indicating structural margin fragility
- Stock has delivered a 3-year CAGR of -3%, underperforming both broader indices and chemical sector peers during the same period
- Large capex commitments (₹1,029 Cr expansion approved) risk further balance sheet stress if caustic soda pricing remains weak, given already low interest coverage
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Limited news flow for GACL in recent weeks. The company is making steady progress on its renewable energy strategy through its Cleanmax stake, while corporate governance remains clean with no share encumbrance issues. With no material headwinds reported, the near-term outlook appears stable but lacks strong catalysts.
- ₹32Cr renewable energy investment Jun 11
GACL invested ₹32.33 Cr to maintain its 26% stake in Cleanmax Sphere Energy for a 75.9 MW renewable energy project, signaling commitment to green energy and potential long-term cost savings.
- No share encumbrance confirmed Jun 16
Gujarat Maritime Board confirmed it did not encumber any shares in Gujarat Alkalies & Chemicals during FY 2025-26, indicating clean shareholding structure.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 913 | 971 | 921 | 1,002 | 977 | 991 | 1,029 | 1,075 | 1,105 | 1,083 | 1,044 | 1,125 | 1,245 |
| Expenses | 882 | 955 | 941 | 998 | 923 | 945 | 951 | 974 | 1,010 | 1,009 | 948 | 1,015 | 1,023 |
| Operating Profit | 31 | 16 | −20 | 4 | 54 | 46 | 78 | 101 | 95 | 74 | 96 | 110 | 222 |
| OPM % | 3.4% | 1.7% | −2.2% | 0.4% | 6% | 4.7% | 8% | 9% | 9% | 7% | 9% | 10% | 18% |
| Other Income | 12 | 71 | 5 | 3 | 3 | 49 | 15 | 24 | 8 | 59 | 30 | 25 | 9 |
| Interest | 10 | 11 | 11 | 12 | 11 | 11 | 10 | 18 | 14 | 16 | 18 | 15 | 16 |
| Depreciation | 89 | 95 | 96 | 97 | 97 | 100 | 98 | 97 | 102 | 104 | 104 | 104 | 103 |
| PBT | −57 | −18 | −123 | −102 | −50 | −16 | −15 | 10 | −12 | 13.48 | 4 | 15 | 112 |
| Tax % | 0% | 0% | −6% | −55% | −11% | 15% | −27% | 13% | 15% | −21% | 621% | 3% | 51% |
| Net Profit | −57 | −18 | −115 | −46 | −45 | −18 | −11 | 9 | −14 | 16 | −20 | 15 | 55 |
| EPS (₹) | −7.78 | −2.5 | −15.68 | −6.29 | −6.06 | −2.48 | −1.53 | 1.2 | −1.88 | 2.23 | −2.72 | 2.04 | 7.49 |
Profit & Loss
₹ Cr| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,995 | 2,070 | 2,455 | 3,161 | 2,725 | 2,429 | 3,759 | 4,516 | 3,807 | 4,073 | 4,358 | 4,498 |
| Expenses | 1,660 | 1,622 | 1,669 | 2,046 | 2,148 | 2,072 | 2,774 | 3,568 | 3,775 | 3,793 | 3,975 | 3,996 |
| Operating Profit | 335 | 448 | 786 | 1,115 | 577 | 357 | 984 | 949 | 32 | 279 | 383 | 501 |
| OPM % | 17% | 22% | 32% | 35% | 21% | 15% | 26% | 21% | 0.8% | 7% | 9% | 11% |
| Other Income | 45 | 56 | 106 | 62 | 90 | 67 | 46 | 42 | 90 | 92 | 115 | 124 |
| Interest | 10 | 13 | 15 | 21 | 14 | 15 | 6 | 19 | 45 | 51 | 63 | 66 |
| Depreciation | 107 | 111 | 127 | 140 | 162 | 174 | 198 | 276 | 377 | 392 | 414 | 416 |
| PBT | 262 | 381 | 749 | 1,016 | 491 | 235 | 826 | 695 | −300 | −71 | 21 | 144 |
| Tax % | 16% | 19% | 29% | 32% | 32% | 29% | 32% | 41% | −21% | −9% | 112% | — |
| Net Profit | 220 | 307 | 534 | 690 | 332 | 166 | 560 | 410 | −237 | −65 | −2 | 66 |
| EPS (₹) | 29.9 | 41.85 | 72.78 | 93.98 | 45.22 | 22.57 | 76.22 | 55.78 | −32.25 | −8.87 | −0.33 | 9.04 |
| Div. Payout % | 15% | 12% | 9% | 9% | 18% | 35% | 13% | 42% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | — |
Balance Sheet
₹ Cr| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 73 | 73 | 73 | 73 | 73 | 73 | 73 | 73 | 73 | 73 | 73 |
| Reserves | 2,854 | 3,282 | 3,748 | 4,222 | 4,522 | 5,301 | 5,826 | 6,066 | 6,002 | 5,596 | 5,117 |
| Borrowings | 295 | 353 | 291 | 247 | 205 | 498 | 594 | 597 | 544 | 561 | 575 |
| Other Liabilities | 671 | 726 | 859 | 988 | 1,090 | 1,282 | 1,484 | 1,599 | 1,404 | 1,756 | 1,766 |
| Total Liabilities | 3,894 | 4,435 | 4,970 | 5,531 | 5,891 | 7,154 | 7,977 | 8,335 | 8,023 | 7,987 | 7,533 |
| Fixed Assets | 1,821 | 2,073 | 2,104 | 2,300 | 2,610 | 2,587 | 2,702 | 4,250 | 4,617 | 4,584 | 4,343 |
| CWIP | 83 | 151 | 252 | 307 | 445 | 1,109 | 1,787 | 544 | 95 | 79 | 122 |
| Investments | 854 | 1,016 | 1,145 | 1,065 | 1,242 | 2,092 | 2,110 | 1,831 | 2,093 | 1,976 | 1,633 |
| Other Assets | 1,136 | 1,196 | 1,469 | 1,858 | 1,594 | 1,366 | 1,379 | 1,710 | 1,218 | 1,348 | 1,434 |
| Total Assets | 3,894 | 4,435 | 4,970 | 5,531 | 5,891 | 7,154 | 7,977 | 8,335 | 8,023 | 7,987 | 7,533 |
Cash Flow
₹ Cr| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 201 | 502 | 514 | 838 | 630 | 421 | 735 | 960 | 67 | 381 | 406 |
| Investing | −352 | −467 | −395 | −581 | −634 | −334 | −804 | −662 | −90 | −264 | −225 |
| Financing | 84 | 13 | −116 | −136 | −146 | 226 | 12 | −140 | −277 | −145 | −150 |
| Net Cash Flow | −67 | 49 | 3 | 122 | −150 | 313 | −58 | 158 | −301 | −28 | 31 |
| Free Cash Flow | −80 | 63 | 230 | 451 | 56 | −370 | −173 | 277 | −164 | 59 | 148 |
| CFO/OP | 75 | 132 | 83 | 98 | 121 | 133 | 106 | 121 | 353 | 112 | 100 |
Ratios
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 60 | 58 | 60 | 56 | 50 | 43 | 29 | 23 | 17 | 24 | 34 |
| Inventory Days | 99 | 94 | 147 | 99 | 92 | 88 | 101 | 111 | 93 | 110 | 102 |
| Days Payable | 99 | 125 | 154 | 134 | 126 | 111 | 101 | 119 | 86 | 115 | 111 |
| Cash Conversion Cycle | 60 | 27 | 53 | 22 | 17 | 21 | 29 | 15 | 25 | 19 | 25 |
| Working Capital Days | 89 | 81 | 98 | 96 | 107 | 10 | 4 | 5 | −1 | −3 | 0 |
| ROCE % | — | 11% | 18% | 24% | 11% | 5% | 13% | 11% | −4% | 0% | 1% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Gujarat Alkalies & Chemicals insights
67 extracted metrics across FY07–FY27.
Documents
- 3 Aug 2026
- 4 Aug 2025
- 5 Aug 2024
- 13 Feb 2024
- 20 Sep 2023
- General announcements 29 Oct 2026
- General announcements 22 Oct 2026
Frequently Asked Questions about Gujarat Alkalies & Chemicals
What does Gujarat Alkalies & Chemicals Ltd do?
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Company Information
Incorporated in 1973, Gujarat Alkalies and Chemicals Ltd is promoted by the Government of Gujarat, with promoter-group shareholding of 47.28% as of FY26. The company operates manufacturing complexes at Vadodara and Dahej, Gujarat, and has 50+ years of operating history in chlor-alkali and allied chemicals.
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