Ganesh Housing Corporation Ltd
Incorporated in 1991, Ganesh Housing Corporation Ltd is in the business of real estate development in residential and commercial segment and infrastructure projects[1]
- Market Cap ₹ 8,600 Cr.
- Current Price ₹ 1,031
- High / Low ₹ 1,485 / 774
- Stock P/E 14.3
- Book Value ₹ 247
- Dividend Yield 1.07 %
- ROCE 44.0 %
- ROE 35.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 47.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.9%
Cons
- Debtor days have increased from 77.9 to 131 days.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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282 | 250 | 321 | 401 | 499 | 258 | 267 | 168 | 383 | 616 | 891 | 960 | |
151 | 119 | 117 | 195 | 304 | 188 | 320 | 216 | 248 | 364 | 267 | 180 | |
Operating Profit | 131 | 132 | 204 | 207 | 195 | 71 | -53 | -48 | 134 | 252 | 624 | 779 |
OPM % | 46% | 53% | 64% | 51% | 39% | 27% | -20% | -29% | 35% | 41% | 70% | 81% |
5 | 7 | 2 | 6 | 8 | 6 | 2 | 10 | 1 | 4 | 6 | 34 | |
Interest | 65 | 64 | 100 | 93 | 101 | 92 | 80 | 75 | 36 | 13 | 4 | 4 |
Depreciation | 3 | 4 | 4 | 4 | 3 | 2 | 2 | 2 | 2 | 3 | 7 | 7 |
Profit before tax | 69 | 72 | 102 | 116 | 100 | -17 | -132 | -114 | 97 | 240 | 620 | 802 |
Tax % | 27% | 27% | 31% | 36% | 49% | -256% | -10% | -8% | 27% | 57% | 26% | 25% |
50 | 53 | 70 | 75 | 51 | 27 | -120 | -105 | 71 | 102 | 461 | 598 | |
EPS in Rs | 10.19 | 11.27 | 12.56 | 14.16 | 10.32 | 5.39 | -24.30 | -21.38 | 8.47 | 12.25 | 55.25 | 71.72 |
Dividend Payout % | 17% | 15% | 11% | 14% | 17% | 9% | 0% | 0% | 0% | 20% | 20% | 7% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 29% |
3 Years: | 36% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 28% |
5 Years: | 48% |
3 Years: | 104% |
TTM: | 30% |
Stock Price CAGR | |
---|---|
10 Years: | 32% |
5 Years: | 114% |
3 Years: | 54% |
1 Year: | 4% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 23% |
3 Years: | 32% |
Last Year: | 35% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 33 | 33 | 33 | 49 | 49 | 49 | 49 | 49 | 83 | 83 | 83 | 83 |
Reserves | 646 | 692 | 757 | 798 | 840 | 698 | 575 | 453 | 706 | 805 | 1,246 | 1,973 |
357 | 593 | 602 | 764 | 707 | 663 | 533 | 409 | 142 | 240 | 247 | 27 | |
188 | 189 | 256 | 272 | 243 | 336 | 214 | 220 | 248 | 290 | 193 | 254 | |
Total Liabilities | 1,224 | 1,506 | 1,648 | 1,883 | 1,839 | 1,746 | 1,372 | 1,131 | 1,179 | 1,419 | 1,769 | 2,338 |
60 | 216 | 221 | 231 | 223 | 225 | 223 | 208 | 208 | 261 | 438 | 435 | |
CWIP | 0 | 0 | 2 | 0 | 0 | 0 | 2 | 0 | 0 | 21 | 148 | 360 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
1,164 | 1,291 | 1,425 | 1,652 | 1,616 | 1,521 | 1,146 | 923 | 972 | 1,136 | 1,183 | 1,543 | |
Total Assets | 1,224 | 1,506 | 1,648 | 1,883 | 1,839 | 1,746 | 1,372 | 1,131 | 1,179 | 1,419 | 1,769 | 2,338 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
149 | -380 | 168 | 202 | 75 | 129 | 123 | 132 | 41 | 31 | 638 | 410 | |
-37 | 55 | -86 | -140 | 26 | 84 | 53 | 43 | 39 | 278 | -489 | -389 | |
-124 | 338 | -60 | -57 | -105 | -216 | -202 | -173 | -85 | 1 | -244 | -94 | |
Net Cash Flow | -12 | 14 | 22 | 5 | -3 | -3 | -26 | 3 | -5 | 310 | -95 | -73 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 288 | 387 | 241 | 278 | 355 | 150 | 115 | 0 | 111 | 53 | 50 | 131 |
Inventory Days | 2,496 | 1,013 | 3,409 | 710 | 812 | 2,220 | 1,164 | |||||
Days Payable | 221 | 81 | 157 | 46 | 22 | 96 | 109 | |||||
Cash Conversion Cycle | 2,563 | 387 | 241 | 278 | 1,287 | 3,402 | 780 | 790 | 111 | 53 | 2,174 | 1,185 |
Working Capital Days | 384 | 1,221 | 1,111 | 1,038 | 893 | 1,432 | 1,054 | 1,089 | 397 | 343 | 309 | 430 |
ROCE % | 12% | 10% | 14% | 13% | 11% | 5% | -4% | -4% | 13% | 23% | 45% | 44% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Annual Secretarial Compliance Report confirms regulatory compliance; SEBI warning on past related party transactions noted.
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Disclosure Received Under Regulation 7 (2) Read With Regulation 6 (2) Of The SEBI (Prohibition Of Insider Trading) Regulations, 2015
22 May - Anubhuti Value Fund 2 acquired 20,000 shares, total 0.09% holding, disclosed under SEBI insider trading rules.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
17 May - Ganesh Housing reports record FY25 revenue ~INR994 Cr, 30% profit growth, zero debt, land acquisitions, and project updates.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
15 May - Publication of Newspaper Advertisements - Audited Financial Results for the quarter and year ended March 31, 2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 May - Audio recording link of Ganesh Housing Q4 FY25 earnings call shared.
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
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Financial Year 2011
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Concalls
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Oct 2024TranscriptNotesPPT
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Jul 2024Transcript PPT REC
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT REC
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022TranscriptPPT
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Aug 2018TranscriptNotesPPT
Business Overview:[1][2]
GHCL is a Gujarat based real estate developers certified by ISO 9001-2008, ISO 14001:2004 & OHSAS 18001:2007, ISO 9001:2000 and endorsed by KPMG, USA. It deals in organized housing and construction and has sold 22+ mn Sqft of real estate space, with another 35 million Sqft under development. Additionaly, company aims to extend its presence into Special Economic Zone and township format development