---
title: "Girdharilal Sugar & Allied Industries Ltd (NARMADASUG) — Share Price, Financials & Analysis"
symbol: "NARMADASUG"
company: "Girdharilal Sugar & Allied Industries Ltd"
canonical: "https://tapetide.com/stocks/NARMADASUG"
nse_symbol: "NARMADASUG"
sector: "Fast Moving Consumer Goods"
industry: "Agricultural Food & other Products"
generated_at: "2026-09-13T18:20:02.063Z"
---

# Girdharilal Sugar & Allied Industries Ltd (NARMADASUG)

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

## Company

- **NSE Symbol:** NARMADASUG
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Agricultural Food & other Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** gsail.org

## About

Girdharilal Sugar& Allied Industries is engaged in Agro based activities. The company has a Dairy plant, Soya Solvent plant and edible oil refinery at Dewas (M.P.).

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 71.4 to 22.6 days.

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -22.8% over past five years.
- Company has a low return on equity of -52.2% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 65% | — | — |
| revenue growth | -71% | -30% | -23% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 19.31 | 8.82 | 3.54 | 8.32 | 16.46 | 7.1 | 9.96 | 8.14 | 11.89 | 0.03 | 0.02 | 0 |
| Expenses | 19.29 | 7.82 | 4.09 | 8.08 | 13.69 | 9.15 | 22.86 | 8.44 | 12.81 | 0.37 | 0.21 | 0.13 |
| Operating Profit | 0.02 | 1 | -0.55 | 0.24 | 2.77 | -2.05 | -12.9 | -0.3 | -0.92 | -0.34 | -0.19 | -0.13 |
| OPM % | 0.1 | 11.34 | -15.54 | 2.88 | 16.83 | -28.87 | -129.52 | -3.69 | -7.74 | -1133.33 | -950 | — |
| Other Income | 0.72 | 0.04 | 0.02 | 0.05 | 0.33 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 |
| Interest | 0.92 | 0.86 | 0.95 | 0.46 | 0.54 | 0.05 | 0.05 | 0.05 | -0.01 | 0 | 0 | 0 |
| Depreciation | 0.59 | 0.52 | 0.5 | 0.49 | 0.33 | 0.43 | 0.31 | 0.47 | 0.62 | 0.46 | 0.46 | 0.46 |
| Profit before tax | -0.77 | -0.34 | -1.98 | -0.66 | 2.23 | -2.53 | -13.26 | -0.82 | -1.52 | -0.8 | -0.65 | -0.59 |
| Tax % | -19.48 | 0 | 0 | 0 | 20.18 | 0 | 0 | 0 | 111.18 | 0 | 0 | 0 |
| Net Profit | -0.62 | -0.34 | -1.98 | -0.66 | 1.79 | -2.54 | -13.26 | -0.82 | -3.21 | -0.8 | -0.65 | -0.59 |
| EPS in Rs | -0.32 | -0.18 | -1.03 | -0.34 | 0.93 | -1.33 | -6.92 | -0.43 | -1.67 | -0.42 | -0.34 | -0.31 |

### Profit & Loss

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.14 | 0 | 66.51 | 135.64 | 104.26 | 109.13 | 45.53 | 37.15 | 37.09 | 11.94 |
| Expenses | 0.66 | 0.22 | 68.21 | 129.92 | 98.18 | 105.36 | 41.51 | 33.69 | 53.81 | 13.52 |
| Operating Profit | -0.52 | -0.22 | -1.7 | 5.72 | 6.08 | 3.77 | 4.02 | 3.46 | -16.72 | -1.58 |
| OPM % | -371.43 | — | -2.56 | 4.22 | 5.83 | 3.45 | 8.83 | 9.31 | -45.08 | -13.23 |
| Other Income | 1.26 | 0.23 | 0.26 | 0.93 | 0.26 | 2.4 | 1.56 | 0.44 | 0.02 | 0.01 |
| Interest | 0.04 | 0 | 0.86 | 1.13 | 2.43 | 2.9 | 3.05 | 2.81 | 0.14 | -0.01 |
| Depreciation | 0 | 0 | 0.49 | 0.47 | 0.98 | 2.04 | 2.06 | 1.84 | 1.84 | 2 |
| Profit before tax | 0.7 | 0.01 | -2.79 | 5.05 | 2.93 | 1.23 | 0.47 | -0.75 | -18.68 | -3.56 |
| Tax % | 80 | 200 | -12.9 | 35.64 | 24.91 | -101.63 | 17.02 | 60 | 6.16 | — |
| Net Profit | 0.13 | -0.02 | -2.43 | 3.25 | 2.19 | 2.48 | 0.4 | -1.19 | -19.83 | -5.25 |
| EPS in Rs | 0.07 | -0.01 | -1.25 | 1.7 | 1.14 | 1.29 | 0.21 | -0.62 | -10.34 | -2.74 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 19.47 | 19.47 | 18.59 | 19.17 | 19.17 | 19.17 | 19.17 | 19.17 | 19.17 | 19.17 |
| Reserves | 8.49 | 8.47 | -10.78 | -8.77 | -7.24 | -1.55 | -1.61 | -2.73 | -22.53 | -23.98 |
| Borrowings | 0 | 0 | 26.6 | 35.93 | 38.35 | 37.41 | 37.34 | 37.78 | 37.63 | 5.31 |
| Other Liabilities | 0.76 | 0.56 | 39.95 | 44.06 | 35.1 | 42.73 | 39.89 | 36.35 | 29.51 | 62.14 |
| Total Liabilities | 28.72 | 28.5 | 74.36 | 90.39 | 85.38 | 97.76 | 94.79 | 90.57 | 63.78 | 62.64 |
| Fixed Assets | 0.03 | 0.02 | 23.03 | 22.06 | 33.81 | 45.88 | 42.6 | 41.06 | 39.4 | 38.48 |
| CWIP | 0 | 0 | 0.12 | 10.03 | 0 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 28.69 | 28.48 | 51.21 | 58.3 | 51.57 | 51.8 | 52.11 | 49.43 | 24.3 | 24.08 |
| Total Assets | 28.72 | 28.5 | 74.36 | 90.39 | 85.38 | 97.76 | 94.79 | 90.57 | 63.78 | 62.64 |

### Cash Flow

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 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1.49 | -0.15 | -0.48 | 24.16 | 7.75 | 10.05 | 3.16 | 4.42 | 1.63 | 0.47 |
| Cash from Investing Activity | 3.16 | 1.41 | 0.23 | -0.27 | -10.02 | -2.75 | -0.63 | -0.68 | 0.75 | -0.2 |
| Cash from Financing Activity | -10.67 | -2.37 | 0.23 | -23.69 | 2.42 | -7.34 | -2.65 | -3.6 | -2.55 | -0.38 |
| Net Cash Flow | -9 | -1.11 | -0.02 | 0.2 | 0.16 | -0.03 | -0.13 | 0.14 | -0.18 | -0.1 |
| Free Cash Flow | -1.49 | -0.15 | -0.48 | 23.89 | -2.31 | 7.26 | 2.88 | 5.81 | 1.92 | 0.29 |
| CFO/OP | 66 | -79 | 200 | -1416 | 131 | 165 | 84 | 112 | 44 | -3 |

### Ratios

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 173.72 | 0 | — | 49.39 | 31.08 | 21.6 | 41.44 | 90.43 | 101 | 22.63 |
| Inventory Days | 0 | 0 | — | 79.03 | 53.94 | 59.43 | 62.87 | 186.98 | 214.6 | 8.43 |
| Days Payable | — | — | — | 169.37 | 98.64 | 87.85 | 104.04 | 290.81 | 290.99 | 111.77 |
| Cash Conversion Cycle | 173.72 | 0 | — | -40.95 | -13.62 | -6.81 | 0.27 | -13.4 | 24.61 | -80.71 |
| Working Capital Days | 593.37 | 12540.36 | — | -103.45 | -61.57 | -99 | -72.98 | -193.12 | -264.78 | -426.8 |
| ROCE % | 4.38 | 3.19 | 0.04 | -6.19 | 15.31 | 11.1 | 5.13 | 5.22 | 3.23 | -41.9 |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 67.23% | 67.23% | 67.24% | 67.24% | 67.24% |
| DIIs | 3.06% | 2.64% | 2.53% | 2.53% | 2.53% |
| Public | 29.7% | 30.13% | 30.23% | 30.23% | 30.23% |
| No. of Shareholders | 61375 | 61290 | 61163 | 61063 | 61047 |

### Quarterly

| Category | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 67.23% | 67.23% | 67.23% | 67.24% | 67.24% | 67.24% | 67.24% | 67.24% | 67.24% | 67.24% | 67.24% | 67.24% |
| DIIs | 2.64% | 2.64% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
| Public | 30.13% | 30.13% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% | 30.23% |
| No. of Shareholders | 61290 | 61261 | 61233 | 61188 | 61163 | 61130 | 61117 | 61077 | 61063 | 61058 | 61047 | 61047 |

## Technical Indicators

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

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

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 2136.5 | Sell |
| EMA (10) | 2131.79 | Sell |
| SMA (20) | 2171.74 | Sell |
| EMA (20) | 2161.05 | Sell |
| SMA (50) | 2227.41 | Sell |
| EMA (50) | 2214.68 | Sell |
| SMA (100) | 2285.14 | Sell |
| EMA (100) | 2250 | Sell |
| SMA (200) | 2261.54 | Sell |
| EMA (200) | 2195.49 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.13 | Neutral |
| MACD (12,26,9) | -34.89 | Sell |
| Stochastic (14,3,3) | 18.71 | Buy |
| ADX (14) | 15.07 | Neutral |
| Williams %R (14) | -74.6 | Neutral |
| ATR (14) | 66.26 | High Volatility |
| ROC (12) | -3.72 | Sell |
| Stoch RSI (14) | 20.96 | Neutral |
| UO (7,14,28) | 57.39 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 5 Feb 2021 - Pursuant to Regulation 29 of the SEBI (LODR) Regulation, 2015, we are attaching herewith copy of Notice of the Board Meeting of the Company to … | [Announcement Under Regulation 30 (LODR)- Newspaper Publication 5 Feb 2021 - Pursuant to Regulation 29 of the SEBI (LODR) Regulation, 2015, we are attaching herewith copy of Notice of the Board Meeting of the Company to …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9a4715f0-7d63-4851-9a2c-d6abd515b46b.pdf) |
| 5 Feb 2021 - Copy of Notice of the Board Meeting of the Company to be held on Friday, 12th February, 2021, Published on Thursday, 4th February, 2021 in … | [Announcement Under Regulation 30 (LODR)- Newspaper Publication 5 Feb 2021 - Copy of Notice of the Board Meeting of the Company to be held on Friday, 12th February, 2021, Published on Thursday, 4th February, 2021 in …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9a4715f0-7d63-4851-9a2c-d6abd515b46b.pdf) |
| 15 Feb 2021 - Newspaper clippings of Published Unaudited Financial Results of the Company for the Third Quarter / Nine Months Ended December 31, 2020 | [Announcement Under Regulation 30(LODR)- Newspaper Publication 15 Feb 2021 - Newspaper clippings of Published Unaudited Financial Results of the Company for the Third Quarter / Nine Months Ended December 31, 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=981571a0-4abe-4872-9c01-de0bcb67f73e.pdf) |
| 15 Feb 2021 - Newspaper clippings of Published Unaudited Financial Results of the Company for the Third Quarter / Nine Months Ended December 31, 2020 | [Announcement Under Regulation 30(LODR)- Newspaper Publication 15 Feb 2021 - Newspaper clippings of Published Unaudited Financial Results of the Company for the Third Quarter / Nine Months Ended December 31, 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/981571a0-4abe-4872-9c01-de0bcb67f73e.pdf) |
| — | [Board Meeting Intimation for Intimation For Board Of Director'S Meeting To Be Held On Thursday 4Th March 2021 As Per Regulation 29 Of SEBI (LODR) Regulations, 2015 26 Feb 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6a48954e-d7c5-42c4-93e7-500ac8902ccb.pdf) |
| — | [Board Meeting Intimation for Intimation For Board Of Director'S Meeting To Be Held On Thursday 4Th March 2021 As Per Regulation 29 Of SEBI (LODR) Regulations, 2015 26 Feb 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6a48954e-d7c5-42c4-93e7-500ac8902ccb.pdf) |
| — | [Outcome Of The Board Meeting 12 Feb 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=302d9399-ab00-47fd-aec7-30f727bbcd39.pdf) |
| — | [Results-Financial Results For December 31, 2020 12 Feb 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=13352df3-2603-4926-ab1c-ed84173c1b01.pdf) |
| — | [Outcome Of The Board Meeting 12 Feb 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/302d9399-ab00-47fd-aec7-30f727bbcd39.pdf) |
| — | [Results-Financial Results For December 31, 2020 12 Feb 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/13352df3-2603-4926-ab1c-ed84173c1b01.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060314.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/507506/5075060311.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 2026-09-13T18:20:02.063Z.