Gokaldas Exports Ltd

Gokaldas Exports Ltd

₹ 949 1.21%
20 Nov 4:01 p.m.
About

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]

Key Points

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​

  • Market Cap 6,953 Cr.
  • Current Price 949
  • High / Low 1,262 / 668
  • Stock P/E 45.5
  • Book Value 294
  • Dividend Yield 0.00 %
  • ROCE 10.6 %
  • ROE 8.16 %
  • Face Value 5.00

Pros

Cons

  • Stock is trading at 3.22 times its book value
  • Promoter holding is low: 9.16%
  • Company has a low return on equity of 11.4% over last 3 years.
  • Promoters have pledged or encumbered 96.3% of their holding.
  • Dividend payout has been low at 2.67% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -11.8%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
569.67 518.88 523.01 514.65 500.25 551.57 812.42 932.13 929.00 987.77 1,015.34 955.79 984.35
504.43 455.68 452.93 454.45 453.21 489.27 727.95 857.16 859.45 883.86 892.80 858.50 919.73
Operating Profit 65.24 63.20 70.08 60.20 47.04 62.30 84.47 74.97 69.55 103.91 122.54 97.29 64.62
OPM % 11.45% 12.18% 13.40% 11.70% 9.40% 11.30% 10.40% 8.04% 7.49% 10.52% 12.07% 10.18% 6.56%
12.70 9.21 7.11 7.58 8.76 8.21 5.55 7.60 12.81 13.01 19.52 21.38 18.96
Interest 5.81 6.05 7.43 5.52 5.71 5.46 19.65 18.80 17.98 19.17 21.49 22.49 22.26
Depreciation 17.07 18.61 19.00 19.08 20.75 21.50 27.44 27.67 28.78 30.43 41.52 39.38 42.59
Profit before tax 55.06 47.75 50.76 43.18 29.34 43.55 42.93 36.10 35.60 67.32 79.05 56.80 18.73
Tax % 16.82% 15.04% 7.03% 24.62% 19.15% 30.15% -3.14% 24.71% 20.87% 25.22% 33.13% 26.99% 56.81%
45.80 40.58 47.19 32.55 23.71 30.42 44.28 27.18 28.16 50.34 52.86 41.47 8.08
EPS in Rs 7.56 6.70 7.79 5.37 3.91 5.02 6.99 3.82 3.94 7.04 7.40 5.67 1.10
Raw PDF

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 TTM
1,131 1,090 1,143 930 1,031 1,175 1,371 1,211 1,790 2,222 2,379 3,864 3,943
1,084 1,065 1,106 962 1,055 1,113 1,285 1,109 1,585 1,951 2,125 3,493 3,555
Operating Profit 48 25 37 -32 -23 62 86 101 206 271 254 371 388
OPM % 4% 2% 3% -3% -2% 5% 6% 8% 11% 12% 11% 10% 10%
16 91 78 42 47 15 36 12 11 31 30 53 73
Interest 40 47 40 36 37 33 37 34 40 26 36 77 85
Depreciation 27 33 22 18 16 19 55 53 59 72 89 128 154
Profit before tax -4 36 53 -45 -30 25 30 27 117 204 159 218 222
Tax % 80% 2% -15% 5% 3% -2% 0% 0% -0% 15% 18% 27%
-7 35 61 -47 -31 26 30 26 117 173 131 159 153
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 21.21
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 4% 0% 5%
Compounded Sales Growth
10 Years: 13%
5 Years: 23%
3 Years: 29%
TTM: 22%
Compounded Profit Growth
10 Years: 34%
5 Years: 73%
3 Years: 6%
TTM: 17%
Stock Price CAGR
10 Years: 31%
5 Years: 69%
3 Years: 37%
1 Year: 9%
Return on Equity
10 Years: 10%
5 Years: 13%
3 Years: 11%
Last Year: 8%

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 Sep 2025
Equity Capital 17 17 17 17 17 21 21 21 29 30 32 36 37
Reserves 106 142 198 152 113 219 205 269 679 856 1,260 2,045 2,119
311 311 343 474 472 381 442 479 193 154 805 845 993
194 189 177 157 178 188 256 221 310 301 645 611 750
Total Liabilities 628 659 736 801 781 809 925 990 1,211 1,342 2,741 3,537 3,899
172 135 96 97 96 107 172 237 288 280 1,136 1,399 1,544
CWIP 0 2 2 1 0 1 1 0 11 108 128 17 67
Investments 0 0 0 0 0 0 36 37 154 344 159 497 620
456 522 638 702 685 700 716 716 758 610 1,318 1,624 1,668
Total Assets 628 659 736 801 781 809 925 990 1,211 1,342 2,741 3,537 3,899

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 -420
-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 -19 -25 -53 -60 -59 -15 -40 -25 55 27 14 36
ROCE % 6% 8% 9% -1% 1% 10% 7% 8% 18% 21% 11% 11%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
20.97% 11.07% 11.06% 11.05% 11.05% 10.58% 9.42% 9.39% 9.38% 9.38% 9.17% 9.16%
14.65% 17.22% 16.20% 16.96% 20.46% 21.21% 26.55% 27.02% 26.54% 25.79% 24.88% 22.93%
24.21% 31.35% 32.31% 32.68% 31.55% 30.03% 31.79% 33.77% 37.01% 36.82% 37.17% 38.94%
40.16% 40.36% 40.44% 39.31% 36.93% 38.18% 32.26% 29.82% 27.08% 27.99% 28.78% 28.97%
No. of Shareholders 45,73144,31649,68062,45276,07067,06053,28748,57047,87355,50761,37664,553

* 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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