Gujarat State Financial Corporation
Incorporated in 1960, Gujarat State Financial Corporation is a term lending development financial institution mandated to provide finance to small and medium scale enterprises.
- Market Cap ₹ 147 Cr.
- Current Price ₹ 16.5
- High / Low ₹ 27.8 / 13.2
- Stock P/E
- Book Value ₹ -343
- Dividend Yield 0.00 %
- ROCE %
- ROE %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 3.10% over past five years.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Finance Financial Institution
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | 29 | 34 | 12 | 15 | 12 | 13 | 11 | 10 | 10 | 18 | 15 | |
| Interest | 115 | 118 | 121 | 124 | 126 | 128 | 130 | 132 | 134 | 136 | 137 | 139 |
| 19 | 45 | 19 | 11 | 7 | 8 | 6 | 5 | 5 | 4 | 3 | 3 | |
| Financing Profit | -110 | -134 | -106 | -122 | -118 | -124 | -123 | -126 | -128 | -129 | -123 | -127 |
| Financing Margin % | -441% | -465% | -309% | -1,001% | -802% | -1,049% | -937% | -1,149% | -1,246% | -1,272% | -696% | -829% |
| -3 | 40 | 1 | 6 | 3 | 10 | 6 | 3 | 1 | 4 | 4 | 2 | |
| Depreciation | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -113 | -95 | -105 | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| -113 | -95 | -105 | -117 | -116 | -115 | -117 | -123 | -128 | -125 | -119 | -125 | |
| EPS in Rs | -12.66 | -10.64 | -11.78 | -13.15 | -12.96 | -12.89 | -13.18 | -13.79 | -14.34 | -14.04 | -13.38 | -14.07 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -6% |
| 5 Years: | 3% |
| 3 Years: | 14% |
| TTM: | -13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | -1% |
| 3 Years: | 1% |
| TTM: | -5% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 54% |
| 3 Years: | 32% |
| 1 Year: | -35% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | % |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 | 94 |
| Reserves | -1,867 | -1,961 | -2,066 | -2,184 | -2,299 | -2,414 | -2,531 | -2,654 | -2,782 | -2,907 | -3,029 | -3,154 |
| Borrowing | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 | 662 |
| 1,201 | 1,314 | 1,434 | 1,558 | 1,683 | 1,812 | 1,941 | 2,073 | 2,207 | 2,342 | 2,479 | 2,619 | |
| Total Liabilities | 90 | 108 | 123 | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 |
| 3 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 2 | 2 | 2 | |
| CWIP | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 5 | 3 | 2 | 2 | 126 | 141 | 153 | 163 | 170 | 179 | 194 | 206 |
| 81 | 101 | 116 | 123 | 10 | 8 | 9 | 8 | 7 | 9 | 10 | 12 | |
| Total Assets | 90 | 108 | 123 | 129 | 139 | 153 | 165 | 174 | 180 | 190 | 206 | 220 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -16 | -2 | 1 | -2 | 3 | 5 | 2 | -1 | -14 | -8 | -12 | -14 | |
| 5 | 25 | 11 | 9 | -2 | -7 | -2 | 1 | 9 | 9 | 11 | 14 | |
| 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net Cash Flow | 5 | 23 | 12 | 7 | 1 | -2 | -0 | 0 | -4 | 1 | -1 | 1 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % |
Documents
Announcements
- Closure of Trading Window 13h
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Notice Of 65Th AGM Scheduled On July 30, 2025
17 Jun - Notice of 65th AGM on 30 July 2025 with financials adoption, auditor re-appointment, and e-voting details.
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Book Closure For The Purpose Of 65Th Annual General Meeting
17 Jun - Notice of book closure from 28-30 July 2025 for 65th AGM on 30 July 2025 at Gandhinagar.
-
Disclosure Of Event Or Information Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Fine Imposed By BSE Ltd
30 May - BSE fined 11.68 lakh for non-compliance on independent directors; awaiting Act amendment.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
28 May - Submission of audited financial results for the quarter and year ended March 31, 2025, please find attached Extract of the said financial results published in …
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from nse
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Financial Year 2011
from bse
Business Overview:[1]
GSFC was created under the State Financial Corporation Act, 1951 passed by Parliament, with an objective to provide financial assistance to small and medium scale new/existing industrial and service sector units in Gujarat and for acquisition of fixed assets, preliminary & pre-operative expenses, expansion, modernization, diversification etc.
At present, company has financed 47,331 units and disbursed Rs. 3,300 crore, generating employment for over 6,00,000 persons. Many financed units have also graduated from small to medium and large scale.