Gretex Corporate Services Ltd

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Gretex Corporate Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Gretex Corporate Services Ltd

₹ 823 5.09%
13 Nov - close price
gretexcorporate.com BSE: 543324 NSE: GCSL
About

Gretex Corporate Services Ltd (GCSL; formerly Dynamic Tradeserv Pvt Ltd) is a SEBI-registered Category-I merchant banker providing capital-market and corporate-finance advisory, led by SME/Mainboard IPO execution. The consolidated group also includes broking, market-making and depository services through material subsidiary Gretex Share Broking Ltd (GSBL).[1]

Key Points

Business & evolution:
Incorporated in 2008 as Dynamic Tradeserv Pvt Ltd, it was subsequently renamed Gretex Corporate Services Pvt Ltd, registered as a merchant banker in 2014, listed on BSE SME in Aug-2021, and migrated to the BSE/NSE mainboards on 4 Sep-2025. The current business is an integrated capital-markets platform; the old Screener focus only on merchant banking understates the now-dominant consolidated broking/market-making activity. [1]

Website BSE NSE
  • Market Cap ₹ 2,058 Cr.
  • Current Price ₹ 823
  • High / Low ₹ 825 / 280
  • Stock P/E 249
  • Book Value ₹ 101
  • Dividend Yield 0.09 %
  • ROCE 10.7 %
  • ROE 7.05 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 78.4% CAGR over last 5 years

Cons

  • Stock is trading at 8.12 times its book value
  • Promoter holding has decreased over last quarter: -1.11%
  • Company has a low return on equity of 9.10% over last 3 years.
  • Working capital days have increased from 69.5 days to 165 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.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
2.30 4.71 7.12 7.44 5.69 0.62 6.95 4.95 13.91 8.21 6.04 4.81 4.96
2.66 2.09 2.46 5.63 5.72 3.45 3.29 3.75 3.20 2.94 2.86 1.80 2.67
Operating Profit -0.36 2.62 4.66 1.81 -0.03 -2.83 3.66 1.20 10.71 5.27 3.18 3.01 2.29
OPM % -15.65% 55.63% 65.45% 24.33% -0.53% -456.45% 52.66% 24.24% 76.99% 64.19% 52.65% 62.58% 46.17%
1.07 0.29 -0.37 0.11 0.53 12.75 0.28 0.06 0.38 0.08 0.06 0.24 0.30
Interest 0.00 0.00 0.01 0.01 0.07 0.08 0.10 0.15 0.06 0.06 0.06 0.05 0.05
Depreciation 0.08 0.08 0.16 0.20 0.35 0.35 0.29 0.26 0.30 0.30 0.28 0.28 0.28
Profit before tax 0.63 2.83 4.12 1.71 0.08 9.49 3.55 0.85 10.73 4.99 2.90 2.92 2.26
Tax % 60.32% 16.61% 32.52% 25.15% -500.00% 17.60% 17.75% 52.94% 24.42% 52.91% 25.86% 28.08% 26.55%
0.25 2.36 2.77 1.28 0.48 7.81 2.92 0.41 8.10 2.35 2.14 2.10 1.66
EPS in Rs 0.11 1.08 1.26 0.58 0.21 3.46 1.29 0.18 3.58 1.04 0.91 0.87 0.66
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
2.36 3.15 1.18 3.14 4.37 14.07 21.18 33.69 33.60 24.02
2.64 2.46 2.10 2.05 2.71 5.26 11.03 18.08 12.37 10.27
Operating Profit -0.28 0.69 -0.92 1.09 1.66 8.81 10.15 15.61 21.23 13.75
OPM % -11.86% 21.90% -77.97% 34.71% 37.99% 62.62% 47.92% 46.33% 63.18% 57.24%
0.18 0.01 0.27 0.11 0.38 0.10 0.43 0.68 0.07 0.68
Interest 0.23 0.24 0.33 0.30 0.30 0.27 0.06 0.27 0.69 0.22
Depreciation 0.16 0.16 0.16 0.15 0.17 0.36 0.48 1.19 1.14 1.14
Profit before tax -0.49 0.30 -1.14 0.75 1.57 8.28 10.04 14.83 19.47 13.07
Tax % 10.20% 20.00% 1.75% 2.67% 2.55% 21.98% 25.60% 15.71% 33.28%
-0.54 0.25 -1.16 0.72 1.52 6.46 7.48 12.49 13.00 8.25
EPS in Rs -0.50 0.23 -1.07 0.44 0.73 3.23 3.42 5.53 5.55 3.48
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 7.93% 4.62% 5.73% 13.01%
Compounded Sales Growth
10 Years: %
5 Years: 61%
3 Years: 34%
TTM: -9%
Compounded Profit Growth
10 Years: %
5 Years: 78%
3 Years: 26%
TTM: -57%
Stock Price CAGR
10 Years: %
5 Years: 133%
3 Years: 99%
1 Year: 121%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 9%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 0.65 0.65 0.65 0.90 1.14 10.24 11.52 11.92 24.16 25.01
Reserves 4.42 4.70 3.54 6.02 11.02 30.89 70.07 136.93 196.00 228.35
2.02 2.70 3.64 2.50 1.97 0.21 0.31 6.96 2.18 1.75
0.71 1.42 1.01 1.34 1.10 5.97 2.19 2.38 22.70 22.62
Total Liabilities 7.80 9.47 8.84 10.76 15.23 47.31 84.09 158.19 245.04 277.73
3.51 3.41 3.28 3.18 3.27 4.21 11.77 13.75 12.66 12.10
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 3.52 3.90 4.32 5.47 10.08 40.15 68.71 128.94 211.07 213.97
0.77 2.16 1.24 2.11 1.88 2.95 3.61 15.50 21.31 51.66
Total Assets 7.80 9.47 8.84 10.76 15.23 47.31 84.09 158.19 245.04 277.73

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-0.35 0.18 -0.50 0.54 2.17 9.09 2.53 0.14 12.65
0.68 -0.43 -0.31 -1.03 -4.73 -7.10 -27.97 -22.53 -35.03
-0.36 0.36 0.84 0.58 2.93 -2.20 25.98 26.29 17.62
Net Cash Flow -0.03 0.11 0.03 0.10 0.38 -0.22 0.54 3.91 -4.75
Free Cash Flow 0.09 0.12 -0.53 0.49 1.91 8.08 -5.30 -3.03 12.59
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 61% 36% 54% 50% 132% 103% 42% 15% 77%

Ratios

Standalone / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 15.47 25.49 49.49 144.14 40.93 15.05 37.22 48.54 43.78
Inventory Days
Days Payable
Cash Conversion Cycle 15.47 25.49 49.49 144.14 40.93 15.05 37.22 48.54 43.78
Working Capital Days -7.73 45.19 -61.86 79.04 22.55 -83.27 8.62 35.32 164.68
ROCE % 7.13% -10.20% 12.17% 15.88% 31.08% 16.11% 12.70% 10.66%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025 Sep 2026
Cumulative public issues executed
count

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Cumulative funds raised through IPOs
INR Crore
IPOs executed in the year
count
Number of permanent employees
count
Active IPO mandates in pipeline
count
Active market-making mandates
count
Number of broking retail clients
count
Number of institutional broking clients
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

68 Recently
Oct 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
73.48% 69.61% 66.24% 66.24% 66.24% 64.01% 63.27% 63.27% 63.27% 61.64% 61.64% 60.53%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.23% 1.10% 1.99% 2.34%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.27% 0.41% 0.00% 0.00%
26.51% 30.39% 33.76% 33.76% 33.76% 35.98% 36.73% 36.74% 35.23% 36.84% 36.36% 37.12%
No. of Shareholders 105969241,1011,0081,1591,1861,0121,1521,5072,8423,071

* 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.

Click on the line-items to see the names of individual entities.

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