Gujarat State Financial Corporation

Guj. State Fin. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Gujarat State Financial Corporation

₹ 10.6 0.57%
23 Jul 11:02 a.m.
gsfc.gujarat.gov.in BSE: 532160
About

Incorporated in 1960, Gujarat State Financial Corporation is a term lending development financial institution mandated to provide finance to small and medium scale enterprises.

Key Points

Mandate and Present Role:[1]
Gujarat State Financial Corporation was established under the State Financial Corporations Act, to provide medium- and long-term finance to small and medium industrial units in Gujarat. However, it stopped sanctioning and disbursing fresh loans from FY02 and has operated only as a recovery institution. Management states that it is not contemplating a restart of lending in the near future.[2]

Website BSE
  • Market Cap ₹ 94.4 Cr.
  • Current Price ₹ 10.6
  • High / Low ₹ 16.9 / 8.40
  • Stock P/E
  • Book Value ₹ -358
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has low interest coverage ratio.
  • 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

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Quarterly Results

Figures in Rs. Crores

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
0 3 1 0 1 1 0 -1 0 0 0 0 4
Interest 34 34 35 35 34 35 35 35 35 35 36 36 35
1 1 3 -1 1 1 1 1 1 1 1 1 1
Financing Profit -35 -32 -36 -34 -34 -35 -36 -37 -35 -36 -36 -36 -32
Financing Margin % -69,100% -1,046% -3,736% -168,750% -5,524% -6,558% -10,462% 3,813% -14,056% -39,456% -72,320% -776%
4 3 5 3 5 4 4 5 4 4 4 4 -1
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax -31 -28 -31 -30 -30 -31 -31 -32 -31 -31 -32 -32 -32
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-31 -28 -31 -30 -30 -31 -31 -32 -31 -31 -32 -32 -32
EPS in Rs -3.44 -3.18 -3.47 -3.41 -3.32 -3.50 -3.53 -3.55 -3.48 -3.48 -3.59 -3.58 -3.63
Gross NPA % 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Net NPA % 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
29 34 12 15 12 13 11 10 10 18 15 16
Interest 118 121 124 126 128 130 132 134 136 137 139 141
45 19 11 7 8 6 5 5 4 3 3 2
Financing Profit -134 -106 -122 -118 -124 -123 -126 -128 -129 -123 -127 -127
Financing Margin % -465% -309% -1,001% -802% -1,049% -937% -1,149% -1,246% -1,272% -696% -829% -776%
40 1 6 3 10 6 3 1 4 4 2 0
Depreciation 0 0 1 0 0 0 0 0 0 0 0 0
Profit before tax -95 -105 -117 -116 -115 -117 -123 -128 -125 -119 -125 -127
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-95 -105 -117 -116 -115 -117 -123 -128 -125 -119 -125 -127
EPS in Rs -10.64 -11.78 -13.15 -12.96 -12.89 -13.18 -13.79 -14.34 -14.04 -13.38 -14.07 -14.28
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -7%
5 Years: 8%
3 Years: 17%
TTM: 7%
Compounded Profit Growth
10 Years: -2%
5 Years: -1%
3 Years: -1%
TTM: -2%
Stock Price CAGR
10 Years: 13%
5 Years: 6%
3 Years: 13%
1 Year: -32%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 94 94 94 94 94 94 94 94 94 94 94 94
Reserves -1,961 -2,066 -2,184 -2,299 -2,414 -2,531 -2,654 -2,782 -2,907 -3,029 -3,154 -3,282
Borrowing 662 662 662 662 662 662 662 662 662 662 662 662
1,314 1,434 1,558 1,683 1,812 1,941 2,073 2,207 2,342 2,479 2,619 2,760
Total Liabilities 108 123 129 139 153 165 174 180 190 206 220 234
4 4 4 4 4 3 3 3 2 2 2 2
CWIP 1 1 0 0 0 0 0 0 0 0 0 0
Investments 3 2 2 126 141 153 163 170 179 194 206 221
101 116 123 10 8 9 8 7 9 10 12 11
Total Assets 108 123 129 139 153 165 174 180 190 206 220 234

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-2 1 -2 3 5 2 -1 -14 -8 -12 -14 -17
25 11 9 -2 -7 -2 1 9 9 11 14 16
0 0 0 0 0 0 0 0 0 0 0 0
Net Cash Flow 23 12 7 1 -2 -0 0 -4 1 -1 1 -1
Free Cash Flow 1 1 -2 3 5 2 -1 -14 -8 -12 -14 -17
CFO/OP 12% 7% -141% 38% 123% 26% -21% -258% -125% -79% -111% -122%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
ROE %

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Outstanding Loan Portfolio (Net NPA)
INR crore

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Recovery of Dues
INR crore
Number of Regional Offices
count
Total Staff Strength
count

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95% 83.95%
1.44% 1.44% 1.44% 1.44% 1.44% 1.44% 1.44% 1.44% 1.38% 1.13% 1.13% 1.13%
4.20% 4.20% 4.20% 4.20% 4.20% 4.20% 4.20% 4.20% 4.20% 2.10% 2.10% 2.10%
10.41% 10.40% 10.41% 10.41% 10.40% 10.41% 10.42% 10.41% 10.48% 12.82% 12.83% 12.82%
No. of Shareholders 12,44512,62514,38517,78219,69122,37122,94423,12623,04423,10823,19622,642

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports