GOCL Corporation Ltd

₹ 367 -3.71%

29 May - close price

About

GOCL Corporation Ltd is engaged in the business of Energetics, Mining & Infrastructure Services and Realty.^[1]

It is a part of Hinduja Group which has presence across various industries such as Automotive, information technology, media, entertainment & communications, infrastructure project, development, oil & specialty chemicals, power, real estate and healthcare. The group employees 200,000 people around the world.^[2]

Key Points

Business^[1]
The company is in the business of manufacturing and marketing packaged and bulk explosives, and blast initiating devices.

Website BSE NSE

Market Cap ₹ 1,822 Cr.
Current Price ₹ 367
High / Low ₹ 418 / 223
Stock P/E 6.77
Book Value ₹ 634
Dividend Yield 2.72 %
ROCE 13.1 %
ROE 11.4 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.58 times its book value
Company has delivered good profit growth of 27.9% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 27.4%

Cons

The company has delivered a poor sales growth of -52.8% over past five years.
Company has a low return on equity of 8.11% over last 3 years.
Earnings include an other income of Rs.1,671 Cr.
Promoter holding has decreased over last 3 years: -6.01%
Working capital days have increased from 37,888 days to 1,12,006 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

Commodities Chemicals Chemicals & Petrochemicals Explosives

Part of BSE Commodities BSE 1000 BSE India Defence

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	242	197	163	167	158	4	3	5	3	3	2	2	2
	245	202	155	176	168	18	7	12	8	9	9	12	10
Operating Profit	-3	-4	8	-9	-11	-14	-4	-7	-5	-6	-7	-10	-8
OPM %	-1%	-2%	5%	-5%	-7%	-376%	-116%	-163%	-169%	-177%	-327%	-549%	-348%
	61	65	55	68	49	106	44	119	61	1,264	44	253	109
Interest	39	42	37	37	30	27	27	25	24	26	12	7	4
Depreciation	3	3	3	3	2	1	1	1	0	1	1	1	1
Profit before tax	17	16	23	19	6	64	13	87	31	1,232	24	236	97
Tax %	17%	25%	32%	20%	16%	43%	58%	-7%	26%	1%	42%	11%	22%
	14	12	16	15	5	36	5	92	23	1,223	14	210	75
EPS in Rs	2.78	2.45	3.17	3.11	1.00	7.31	1.10	18.64	4.66	246.62	2.83	42.42	15.16
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	390	484	499	483	532	499	416	498	921	610	555	10
	360	458	469	455	500	483	406	494	942	632	581	41
Operating Profit	30	26	30	27	32	15	9	4	-21	-22	-27	-31
OPM %	8%	5%	6%	6%	6%	3%	2%	1%	-2%	-4%	-5%	-322%
	90	82	86	72	69	60	141	252	479	239	344	1,671
Interest	63	64	62	46	41	16	53	57	119	146	111	49
Depreciation	5	5	6	6	6	7	8	9	10	9	9	2
Profit before tax	52	39	47	48	54	53	90	191	329	63	197	1,589
Tax %	21%	30%	31%	29%	25%	6%	13%	8%	36%	23%	20%	4%
	42	27	33	34	41	50	79	176	211	48	157	1,522
EPS in Rs	8.39	5.43	6.59	6.88	8.18	10.01	15.88	35.52	42.59	9.73	31.71	307.01
Dividend Payout %	24%	28%	24%	23%	24%	40%	38%	14%	23%	41%	32%	10%

Compounded Sales Growth
10 Years:	-32%
5 Years:	-53%
3 Years:	-78%
TTM:	-98%

Compounded Profit Growth
10 Years:	28%
5 Years:	28%
3 Years:	89%
TTM:	141%

Stock Price CAGR
10 Years:	9%
5 Years:	11%
3 Years:	3%
1 Year:	21%

Return on Equity
10 Years:	6%
5 Years:	7%
3 Years:	8%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	997	1,017	507	811	933	900	1,155	1,142	1,400	1,409	1,566	3,133
	1,339	1,248	1,024	802	538	1,193	1,114	1,595	1,767	1,188	1,115	1
	184	193	190	182	202	179	171	491	321	286	413	412
Total Liabilities	2,530	2,467	1,731	1,805	1,683	2,281	2,451	3,238	3,498	2,893	3,104	3,555
	971	972	338	351	361	369	374	303	313	191	168	88
CWIP	13	15	17	19	16	19	15	3	1	13	20	1
Investments	1	1	161	440	541	469	578	45	49	50	51	56
	1,545	1,479	1,215	995	764	1,425	1,484	2,886	3,135	2,639	2,866	3,411
Total Assets	2,530	2,467	1,731	1,805	1,683	2,281	2,451	3,238	3,498	2,893	3,104	3,555

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-20	40	27	11	38	-13	7	-62	-77	40	16
	-8	139	242	268	288	-606	102	-322	173	734	222
	-4	-169	-275	-279	-323	625	-105	387	-90	-800	-230
Net Cash Flow	-32	10	-6	1	4	7	4	4	6	-26	8
Free Cash Flow	-26	34	20	-7	25	-30	-0	-72	125	26	256
CFO/OP	-51%	188%	125%	93%	179%	-38%	213%	-1,041%	-211%	-291%	-248%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	84	57	63	75	62	57	44	48	35	47	26	37
Inventory Days	166	136	78	70	71	71	83	185	102	47	27	260
Days Payable	104	96	48	71	71	64	62	130	91	41	66	8,287
Cash Conversion Cycle	146	97	92	74	62	63	65	104	47	52	-13	-7,990
Working Capital Days	-73	-79	27	18	142	47	143	435	405	687	969	112,006
ROCE %	4%	4%	5%	6%	6%	4%	7%	5%	6%	7%	7%	13%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

May 2025

Bulk Explosives Production
MT

xx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xx,xxx	xx,xxx	xxx,xxx
		xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx
xxx.xx		xx,xxx.xx		xx,xxx.xx				xx,xxx.xx	xx,xxx.xx
xx.xx	xx.xx	xx.xx						xx.xx	xx.xx
		xxx			xxx			xxx	xxx
			x.xx	x.xx						x.xx
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x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx

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Annual Explosives Manufacturing Capacity (Licensed)
MT

Cartridge / Packaged Explosives Production
MT

Detonators Production (Incl. Electric/Plain/Electronic)
Million Units ・Standalone data

Initiating Devices Manufacturing Capacity
Million Units

Leasable Area (Ecopolis Bengaluru - Building 3)
Lakh Sq. Ft.

Hyderabad Land Bank Monetization Agreement Status
Acres ・Standalone data

Order Book (Energetics & Explosives)
Rs. Crores

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

8 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	73.83%	73.83%	73.83%	72.82%	72.82%	72.82%	72.82%	72.82%	72.82%	67.82%	67.82%	67.82%
	3.44%	3.44%	0.07%	0.13%	0.11%	0.14%	0.11%	0.37%	0.16%	5.12%	5.12%	5.08%
	1.26%	1.25%	2.69%	2.82%	1.25%	1.25%	1.25%	1.26%	1.27%	1.27%	1.25%	1.26%
	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%
	21.17%	21.16%	23.10%	23.93%	25.51%	25.49%	25.52%	25.26%	25.45%	25.48%	25.51%	25.55%
No. of Shareholders	29,559	31,405	32,192	32,667	36,169	36,353	35,314	34,947	37,967	37,109	36,951	38,139

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	69.87%	74.93%	74.93%	74.93%	73.83%	73.83%	73.83%	72.82%	72.82%	67.82%
	0.78%	0.96%	1.62%	2.04%	2.94%	2.86%	3.31%	0.13%	0.37%	5.08%
	6.31%	4.82%	3.40%	1.83%	1.44%	1.35%	1.26%	2.82%	1.26%	1.26%
	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%
	22.73%	18.98%	19.75%	20.90%	21.48%	21.66%	21.31%	23.93%	25.26%	25.55%
No. of Shareholders	49,289	34,873	33,058	31,169	30,118	31,258	29,659	32,667	34,947	38,139

* 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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