Goldstar Power Ltd
Incorporated in 1999, Goldstar Power Ltd manufactures Batteries and Battery Product[1]
- Market Cap ₹ 216 Cr.
- Current Price ₹ 7.55
- High / Low ₹ 10.4 / 4.50
- Stock P/E 214
- Book Value ₹ 2.85
- Dividend Yield 0.00 %
- ROCE 3.57 %
- ROE 1.80 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 2.65 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -2.48% over past five years.
- Company has a low return on equity of 6.58% over last 3 years.
- Earnings include an other income of Rs.1.80 Cr.
- Promoter holding has decreased over last 3 years: -11.6%
* 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
Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments
Part of Nifty SME Emerge
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 37.48 | 40.03 | 54.47 | 43.13 | 36.37 | 35.88 | 42.06 | 42.91 | 49.98 | 50.17 | 48.38 | 37.10 | |
| 38.79 | 38.00 | 50.86 | 41.00 | 34.58 | 34.98 | 41.10 | 40.51 | 44.00 | 43.34 | 43.80 | 35.08 | |
| Operating Profit | -1.31 | 2.03 | 3.61 | 2.13 | 1.79 | 0.90 | 0.96 | 2.40 | 5.98 | 6.83 | 4.58 | 2.02 |
| OPM % | -3.50% | 5.07% | 6.63% | 4.94% | 4.92% | 2.51% | 2.28% | 5.59% | 11.96% | 13.61% | 9.47% | 5.44% |
| 3.82 | 0.48 | 0.58 | 1.10 | 1.26 | 1.93 | 1.75 | 1.27 | 2.09 | 2.08 | 2.08 | 1.80 | |
| Interest | 1.76 | 1.41 | 1.65 | 1.42 | 0.86 | 0.89 | 0.96 | 1.19 | 1.48 | 1.84 | 1.57 | 1.07 |
| Depreciation | 1.53 | 1.57 | 1.36 | 1.31 | 1.57 | 1.63 | 1.58 | 1.42 | 1.59 | 1.57 | 1.59 | 1.48 |
| Profit before tax | -0.78 | -0.47 | 1.18 | 0.50 | 0.62 | 0.31 | 0.17 | 1.06 | 5.00 | 5.50 | 3.50 | 1.27 |
| Tax % | -15.38% | -17.02% | 50.00% | 44.00% | -64.52% | -22.58% | 52.94% | 33.02% | 25.60% | 26.55% | 34.57% | 20.47% |
| -0.66 | -0.39 | 0.59 | 0.29 | 1.01 | 0.37 | 0.08 | 0.71 | 3.73 | 4.05 | 2.28 | 1.01 | |
| EPS in Rs | -0.23 | -0.13 | 0.20 | 0.01 | 0.04 | 0.02 | 0.00 | 0.03 | 0.15 | 0.17 | 0.09 | 0.04 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | -2% |
| 3 Years: | -9% |
| TTM: | -23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 66% |
| 3 Years: | -35% |
| TTM: | -56% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 53% |
| 3 Years: | 7% |
| 1 Year: | -23% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 8% |
| 3 Years: | 7% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 1.30 | 1.30 | 1.30 | 10.70 | 10.70 | 10.70 | 10.70 | 10.70 | 19.26 | 24.07 | 24.07 | 28.62 |
| Reserves | 9.66 | 9.27 | 9.30 | 7.55 | 8.56 | 8.94 | 9.01 | 9.72 | 4.89 | 4.12 | 6.40 | 52.90 |
| 15.77 | 14.11 | 11.33 | 7.93 | 7.87 | 8.80 | 11.57 | 17.64 | 13.15 | 18.21 | 10.91 | 8.09 | |
| 11.36 | 8.86 | 11.43 | 9.05 | 7.23 | 7.00 | 4.17 | 8.17 | 7.19 | 7.44 | 10.06 | 8.34 | |
| Total Liabilities | 38.09 | 33.54 | 33.36 | 35.23 | 34.36 | 35.44 | 35.45 | 46.23 | 44.49 | 53.84 | 51.44 | 97.95 |
| 15.59 | 14.16 | 13.00 | 12.27 | 13.33 | 11.80 | 10.62 | 9.79 | 15.21 | 18.19 | 16.96 | 15.77 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.76 | 0.00 | 0.00 | 0.00 | 7.02 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 7.60 | 9.70 | 60.52 |
| 22.49 | 19.37 | 20.35 | 22.19 | 21.02 | 23.63 | 24.83 | 29.42 | 29.28 | 28.05 | 24.78 | 21.66 | |
| Total Assets | 38.09 | 33.54 | 33.36 | 35.23 | 34.36 | 35.44 | 35.45 | 46.23 | 44.49 | 53.84 | 51.44 | 97.95 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10.58 | 1.35 | 2.17 | -1.99 | 2.57 | 0.50 | -0.17 | -0.93 | 6.54 | 7.99 | 8.96 | 4.71 | |
| -0.13 | -0.03 | -0.45 | -1.30 | -1.77 | 0.10 | 1.05 | -7.44 | -0.54 | -11.17 | -0.07 | -50.84 | |
| -10.40 | -2.23 | -1.60 | 3.13 | -1.00 | 0.02 | 1.06 | 5.79 | -5.97 | 3.22 | -8.87 | 46.15 | |
| Net Cash Flow | 0.05 | -0.92 | 0.12 | -0.16 | -0.21 | 0.62 | 1.94 | -2.58 | 0.03 | 0.04 | 0.02 | 0.02 |
| Free Cash Flow | 10.45 | 1.32 | 1.85 | -3.42 | 0.69 | 0.36 | -0.57 | -8.55 | 6.51 | 3.45 | 8.60 | 4.41 |
| CFO/OP | -808% | 71% | 67% | -86% | 150% | 71% | 8% | -18% | 122% | 134% | 219% | 245% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 94.66 | 78.69 | 37.26 | 47.05 | 54.19 | 36.93 | 54.15 | 81.32 | 81.06 | 84.17 | 106.15 | 125.04 |
| Inventory Days | 102.65 | 78.98 | 47.16 | 64.02 | 164.00 | 189.98 | 122.56 | 156.62 | 133.01 | 118.64 | 86.00 | 85.35 |
| Days Payable | 92.67 | 59.81 | 39.23 | 36.82 | 41.84 | 41.72 | 15.71 | 21.71 | 5.00 | 1.33 | 38.28 | 1.82 |
| Cash Conversion Cycle | 104.64 | 97.86 | 45.19 | 74.26 | 176.35 | 185.18 | 161.00 | 216.23 | 209.07 | 201.48 | 153.87 | 208.58 |
| Working Capital Days | 103.33 | -29.45 | -16.28 | 45.19 | 57.81 | 69.18 | 99.19 | 98.84 | 110.57 | 61.11 | 57.56 | 84.12 |
| ROCE % | 3.05% | 3.66% | 12.14% | 8.02% | 5.55% | 4.32% | 3.78% | 6.49% | 17.33% | 17.54% | 11.55% | 3.57% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Actual Production (Storage Batteries) Units |
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| Installed Capacity (Storage Batteries) Units/Annum |
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| Capacity Utilization % |
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| Sales Quantity (Manufactured Storage Batteries) Units |
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| Facility Floor Area Sq. Ft. |
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| Number of Employees People |
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Extracted by Screener AI
Documents
Announcements
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Disclosure under SEBI Takeover Regulations
2 June 2026 - Amrutlal Mohanbhai Pansara has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …
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Statement of deviation(s) or variation(s) under Reg. 32
29 May 2026 - No public, rights, preferential issue or QIP during FY2026; Regulation 32 statement not applicable.
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Outcome of Board Meeting
28 May 2026 - Board approved standalone and consolidated audited results for quarter and year ended 31 March 2026.
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Structural Digital Database
11 April 2026 - Submitted SDD compliance certificate for quarter ended March 31, 2026; no non-compliance reported.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
6 April 2026 - Regulation 74(5) certificate confirms demat requests for quarter ended March 31, 2026.
Business Overview:[1][2][3]
GSL manufactures and assembles all types
of batteries including storage batteries, dry batteries, solar power batteries and also does trading of Inverter, Chemicals & other battery related equipment. It procures Battery Scrap and Discarded Batteries from dealers and retailers and converts to finished product which are marketed under the brand name Goldstar. These are used in Lead Acid Batteries for Automotive, Industrial, Motorcycle, UPS, Solar, Genset and Inverter application. Company caters to all 3 segments of market viz. exports, domestic/after sales market and OEM