Gokaldas Exports Ltd
Gokaldas Exports Limited is engaged in the business of design, manufacture, and sale of a wide range of garments for men, women, and children and caters to the needs of several leading international fashion brands and retailers [1]
- Market Cap ₹ 6,845 Cr.
- Current Price ₹ 936
- High / Low ₹ 1,262 / 735
- Stock P/E 43.2
- Book Value ₹ 291
- Dividend Yield 0.00 %
- ROCE 11.8 %
- ROE 9.40 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 3.22 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 9.38%
- Company has a low return on equity of 11.9% over last 3 years.
- Promoters have pledged 96.3% of their holding.
- Dividend payout has been low at 1.17% of profits over last 3 years
- Promoter holding has decreased over last 3 years: -14.7%
- Working capital days have increased from 70.6 days to 103 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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,131 | 1,090 | 1,143 | 930 | 1,031 | 1,175 | 1,371 | 1,211 | 1,790 | 2,222 | 2,379 | 3,864 | |
1,084 | 1,065 | 1,106 | 962 | 1,055 | 1,113 | 1,285 | 1,109 | 1,585 | 1,951 | 2,125 | 3,493 | |
Operating Profit | 48 | 25 | 37 | -32 | -23 | 62 | 86 | 101 | 206 | 271 | 254 | 371 |
OPM % | 4% | 2% | 3% | -3% | -2% | 5% | 6% | 8% | 11% | 12% | 11% | 10% |
16 | 91 | 78 | 42 | 47 | 15 | 36 | 12 | 11 | 31 | 30 | 53 | |
Interest | 40 | 47 | 40 | 36 | 37 | 33 | 37 | 34 | 40 | 26 | 36 | 77 |
Depreciation | 27 | 33 | 22 | 18 | 16 | 19 | 55 | 53 | 59 | 72 | 89 | 128 |
Profit before tax | -4 | 36 | 53 | -45 | -30 | 25 | 30 | 27 | 117 | 204 | 159 | 218 |
Tax % | 80% | 2% | -15% | 5% | 3% | -2% | 0% | 0% | -0% | 15% | 18% | 27% |
-7 | 35 | 61 | -47 | -31 | 26 | 30 | 26 | 117 | 173 | 131 | 159 | |
EPS in Rs | -1.95 | 10.03 | 17.63 | -13.53 | -8.87 | 5.97 | 7.10 | 6.18 | 19.85 | 28.55 | 20.66 | 22.18 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 4% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 23% |
3 Years: | 29% |
TTM: | 62% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 78% |
3 Years: | 12% |
TTM: | 42% |
Stock Price CAGR | |
---|---|
10 Years: | 34% |
5 Years: | 92% |
3 Years: | 31% |
1 Year: | 13% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 13% |
3 Years: | 12% |
Last Year: | 9% |
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 | 17 | 17 | 17 | 17 | 17 | 21 | 21 | 21 | 29 | 30 | 32 | 36 |
Reserves | 106 | 142 | 198 | 152 | 113 | 219 | 205 | 269 | 679 | 856 | 1,260 | 2,045 |
311 | 311 | 343 | 474 | 472 | 381 | 442 | 479 | 193 | 154 | 805 | 845 | |
194 | 189 | 177 | 157 | 178 | 188 | 256 | 221 | 310 | 301 | 645 | 611 | |
Total Liabilities | 628 | 659 | 736 | 801 | 781 | 809 | 925 | 990 | 1,211 | 1,342 | 2,741 | 3,537 |
172 | 135 | 96 | 97 | 96 | 107 | 172 | 237 | 288 | 280 | 1,136 | 1,399 | |
CWIP | 0 | 2 | 2 | 1 | 0 | 1 | 1 | 0 | 11 | 108 | 128 | 17 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 36 | 37 | 154 | 344 | 159 | 497 |
456 | 522 | 638 | 702 | 685 | 700 | 716 | 716 | 758 | 610 | 1,318 | 1,624 | |
Total Assets | 628 | 659 | 736 | 801 | 781 | 809 | 925 | 990 | 1,211 | 1,342 | 2,741 | 3,537 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
40 | 68 | 83 | 12 | 25 | 51 | 99 | 119 | 117 | 369 | -177 | 57 | |
20 | -16 | -83 | 26 | -14 | 0 | -39 | -32 | -52 | -291 | -537 | -421 | |
-37 | -37 | 4 | -54 | -40 | -57 | -45 | -86 | -43 | -75 | 753 | 473 | |
Net Cash Flow | 23 | 15 | 4 | -17 | -28 | -6 | 15 | 0 | 22 | 2 | 40 | 110 |
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 | 32 | 28 | 27 | 84 | 77 | 50 | 38 | 54 | 19 | 22 | 54 | 40 |
Inventory Days | 130 | 144 | 122 | 132 | 121 | 183 | 153 | 156 | 178 | 91 | 194 | 129 |
Days Payable | 73 | 69 | 66 | 58 | 67 | 60 | 60 | 52 | 48 | 26 | 59 | 45 |
Cash Conversion Cycle | 89 | 102 | 84 | 157 | 131 | 174 | 130 | 159 | 149 | 87 | 189 | 124 |
Working Capital Days | 60 | 63 | 47 | 126 | 108 | 103 | 70 | 88 | 73 | 37 | 73 | 103 |
ROCE % | 6% | 8% | 9% | -1% | 1% | 10% | 7% | 8% | 18% | 21% | 11% | 12% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 May - Scheduled meetings with institutional investors and analysts on June 4-5, 2025 in Mumbai.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
29 May - Q4 FY25 earnings call: 63% revenue growth, tariff challenges, capacity expansion, and market diversification plans.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Annual Secretarial Compliance Report for FY ended March 31, 2025 submitted.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 May - Scheduled meeting with Aberdeen Asset Management on May 30, 2025, in Bengaluru.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 May - Audio recording of Q4 FY'25 results conference call made available online.
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2010
from nse
Concalls
-
May 2025Transcript PPT
-
Feb 2025Transcript PPT
-
Nov 2024Transcript PPT REC
-
Aug 2024Transcript PPT REC
-
Jun 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT REC
-
Sep 2023TranscriptPPTREC
-
Aug 2023TranscriptPPTREC
-
Aug 2023TranscriptNotesPPT REC
-
Jun 2023Transcript PPT
-
May 2023TranscriptNotesPPT
-
Feb 2023Transcript PPT
-
Oct 2022TranscriptPPT
-
Jul 2022TranscriptPPT
-
Jan 2022TranscriptPPT
-
Oct 2021TranscriptPPT
-
Aug 2021TranscriptNotesPPTREC
-
May 2021TranscriptPPT
-
Jan 2021Transcript PPT
-
May 2019TranscriptNotesPPT
Business Overview[1]
Gokaldas Exports Limited (GEX) is a premier apparel manufacturer in India, operational since 1979. It specializes in designing, manufacturing, and exporting apparel products to 50+ countries. The company serves some of the world's most prestigious fashion brands with a workforce of over 54,000 employees, 75% of whom are women