Gandhi Special Tubes Ltd

₹ 892 -0.29%

21 Aug - close price

gandhitubes.com BSE: 513108 NSE: GANDHITUBE

About

Incorporated in 1959, Gandhi Special Tubes Ltd deals in manufacturing of Seamless and Welded Steel Tubes, Nuts and generation of Wind Power ^[1]

Key Points

Business Overview:^[1]
GSTL started as a project set up by The Gandhi Group in technical collaboration with a German based company BENTELER to substitute imports of small diameter welded and cold drawn seamless steel tubes in India. At present, company does manufacturing of seamless steel tubes and welded tubes coupling nuts

Website BSE NSE

Market Cap ₹ 1,084 Cr.
Current Price ₹ 892
High / Low ₹ 1,034 / 681
Stock P/E 14.4
Book Value ₹ 260
Dividend Yield 1.68 %
ROCE 28.4 %
ROE 20.0 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 28.7%

Cons

The company has delivered a poor sales growth of 11.0% over past five years.

* 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

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE Industrials

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	46	44	41	39	41	49	40	43	48	48	48	47	57
	29	28	26	24	25	29	23	27	27	27	26	28	31
Operating Profit	17	16	16	16	16	20	17	16	21	21	22	19	27
OPM %	37%	36%	38%	40%	39%	41%	42%	37%	43%	44%	46%	41%	47%
	4	3	3	3	3	4	2	2	8	3	5	-5	10
Interest	0	0	0	0	0	0	0	0	-0	0	0	-0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	20	18	18	18	18	23	18	17	28	23	26	13	36
Tax %	23%	25%	25%	25%	22%	25%	15%	31%	23%	24%	25%	30%	23%
	16	13	13	13	14	17	15	12	22	18	20	9	28
EPS in Rs	12.98	10.90	10.87	10.99	11.78	14.20	12.48	9.83	17.78	14.56	16.21	7.70	22.99
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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	TTM
	92	91	98	114	123	81	114	137	167	171	173	192	201
	69	64	65	73	77	57	69	88	107	107	104	108	111
Operating Profit	23	27	33	41	46	24	45	49	61	64	68	84	89
OPM %	25%	30%	34%	36%	37%	30%	39%	36%	36%	38%	40%	44%	45%
	4	3	10	8	8	6	6	5	5	12	12	11	13
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	5	5	4	4	4	4	3	3	3	3	3	3	3
Profit before tax	23	25	38	45	50	26	48	50	63	73	77	91	99
Tax %	31%	26%	19%	26%	22%	18%	24%	24%	25%	24%	24%	25%
	16	19	31	34	39	21	36	39	47	56	59	68	75
EPS in Rs	10.75	12.62	20.96	24.29	27.96	16.54	27.98	31.74	38.96	45.74	48.28	56.25	61.46
Dividend Payout %	70%	59%	43%	37%	32%	54%	32%	32%	31%	28%	31%	27%

Compounded Sales Growth
10 Years:	8%
5 Years:	11%
3 Years:	5%
TTM:	12%

Compounded Profit Growth
10 Years:	12%
5 Years:	10%
3 Years:	9%
TTM:	14%

Stock Price CAGR
10 Years:	11%
5 Years:	13%
3 Years:	10%
1 Year:	15%

Return on Equity
10 Years:	20%
5 Years:	22%
3 Years:	21%
Last Year:	20%

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	7	7	7	7	7	6	6	6	6	6	6	6
Reserves	153	158	180	170	194	140	165	141	176	217	260	310
	0	0	0	0	0	0	0	0	0	0	0	0
	14	15	18	20	20	15	20	19	20	20	20	24
Total Liabilities	174	180	206	197	221	162	192	166	202	243	286	340
	63	59	55	51	51	48	45	47	44	43	43	42
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	65	82	104	99	120	69	94	73	85	132	170	213
	46	40	46	47	50	44	53	47	73	68	73	85
Total Assets	174	180	206	197	221	162	192	166	202	243	286	340

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
	15	29	21	32	31	19	32	42	45	26	47	55
	-1	-14	-5	13	-17	56	-20	22	-7	-37	-30	-34
	-13	-13	-16	-44	-15	-76	-12	-64	-12	-15	-16	-18
Net Cash Flow	0	1	0	1	-1	-1	1	-0	26	-25	1	3
Free Cash Flow	11	28	20	32	27	18	31	38	44	25	43	53
CFO/OP	95%	134%	81%	109%	91%	107%	97%	110%	100%	66%	96%	93%

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
Debtor Days	50	65	61	62	46	66	82	44	39	42	47	39
Inventory Days	300	186	288	197	231	308	204	179	138	233	266	313
Days Payable	13	10	10	16	15	12	17	10	9	9	11	10
Cash Conversion Cycle	337	240	339	243	262	362	269	213	168	265	302	341
Working Capital Days	152	120	139	107	113	168	122	92	72	115	120	120
ROCE %	13%	15%	21%	25%	26%	15%	30%	30%	36%	32%	28%	28%

Insights

In beta

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Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Electricity Consumption per Tonne of Production
KWH/tonne

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					xxx	xxx	xxx	xxx	xxx

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GSPC Gas Consumption per Tonne of Production
Tonne/tonne

Cold Formed Coupling Nuts Revenue Share
%

Seamless Tubes Revenue Share
%

Solar Installed Capacity
MW

Welded Tubes Revenue Share
%

Wind Power Revenue Share
%

Total Employees (Including Contractual)
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%	73.52%
	1.49%	1.49%	1.43%	1.43%	1.42%	1.42%	1.41%	1.40%	1.23%	1.23%	1.23%	1.23%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.04%	0.05%	0.05%	0.09%	0.06%	0.05%
	24.99%	24.99%	25.05%	25.06%	25.04%	25.02%	25.02%	25.02%	25.19%	25.17%	25.19%	25.20%
No. of Shareholders	10,354	11,109	11,479	11,609	11,645	11,507	11,626	11,475	12,113	12,017	12,082	13,841

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	73.27%	68.87%	73.26%	73.39%	73.39%	73.53%	73.52%	73.52%	73.52%	73.52%	73.52%
	4.33%	1.74%	1.85%	1.81%	0.70%	0.19%	1.28%	1.43%	1.41%	1.23%	1.23%
	0.06%	0.02%	0.03%	0.00%	0.00%	0.02%	0.00%	0.00%	0.04%	0.06%	0.05%
	22.34%	29.36%	24.86%	24.80%	25.91%	26.27%	25.20%	25.05%	25.02%	25.19%	25.20%
No. of Shareholders	5,435	7,991	7,298	7,538	8,172	10,150	9,019	11,479	11,626	12,082	13,841

* 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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Gandhi Special Tubes Ltd

Gandhi Special Tubes Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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