Goyal Salt Ltd
Incorporated in 2010, Goyal Salt Ltd is a manufacturer and dealer in all varieties of Sodium Chloride[1]
- Market Cap ₹ 190 Cr.
- Current Price ₹ 106
- High / Low ₹ 200 / 97.0
- Stock P/E 16.7
- Book Value ₹ 37.4
- Dividend Yield 0.00 %
- ROCE 19.7 %
- ROE 18.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 76.7% CAGR over last 5 years
- Company's working capital requirements have reduced from 47.5 days to 33.7 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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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Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 71 | 60 | 66 | 117 | 118 | 130 | 199 | |
| 69 | 57 | 63 | 110 | 110 | 118 | 175 | |
| Operating Profit | 3 | 3 | 3 | 7 | 7 | 12 | 24 |
| OPM % | 3.9% | 4.7% | 4.5% | 6% | 6% | 9% | 12% |
| 0 | 0 | 0 | 0 | 6 | 7 | 0 | |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 6 |
| Profit before tax | 0 | 1 | 1 | 5 | 12 | 17 | 15 |
| Tax % | 26% | 27% | 43% | 27% | 22% | 23% | 26% |
| 0 | 1 | 1 | 4 | 9 | 13 | 11 | |
| EPS in Rs | 1.25 | 3.41 | 3.16 | 3.27 | 5.28 | 7.40 | 6.34 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 19% |
| TTM: | 53% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 77% |
| 3 Years: | 48% |
| TTM: | 49% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -39% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 17% |
| Last Year: | 19% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 11 | 18 | 18 | 18 |
| Reserves | 9 | 9 | 10 | 5 | 24 | 38 | 49 |
| 7 | 13 | 11 | 9 | 6 | 21 | 44 | |
| 1 | 3 | 5 | 4 | 3 | 4 | 9 | |
| Total Liabilities | 20 | 27 | 27 | 29 | 51 | 81 | 121 |
| 5 | 5 | 6 | 6 | 10 | 12 | 48 | |
| CWIP | 0 | 0 | 0 | 0 | 4 | 29 | 7 |
| Investments | 0 | 0 | 0 | 0 | 8 | 6 | 6 |
| 15 | 22 | 22 | 23 | 29 | 34 | 61 | |
| Total Assets | 20 | 27 | 27 | 29 | 51 | 81 | 121 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -4 | 5 | -2 | 5 | 12 | -2 | ||
| -1 | -1 | -2 | -17 | -27 | -18 | ||
| 5 | -3 | 4 | 12 | 15 | 20 | ||
| Net Cash Flow | -0 | -0 | 0 | 0 | 0 | -0 | |
| Free Cash Flow | -6 | 3 | -3 | -5 | -16 | -21 | |
| CFO/OP | -156% | 162% | -23% | 103% | 137% | 7% |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 84 | 79 | 48 | 58 | 43 | 49 |
| Inventory Days | 33 | 55 | 49 | 20 | 21 | 58 | 91 |
| Days Payable | 7 | 31 | 41 | 12 | 9 | 11 | 26 |
| Cash Conversion Cycle | 69 | 108 | 87 | 57 | 70 | 89 | 114 |
| Working Capital Days | 43 | 38 | 38 | 27 | 55 | 54 | 34 |
| ROCE % | 9% | 9% | 25% | 18% | 17% | 20% |
Insights
In beta| Mar 2008 | Mar 2010 | Mar 2015 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Daily Production Capacity MT per day |
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| Installed Annual Capacity MT per annum |
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| Number of Manufacturing Units count |
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| Number of Permanent Employees count |
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| Number of Retail Outlets count |
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| Number of Salt Product Categories count |
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| Number of Targeted Export Countries count |
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Extracted by Screener AI
Documents
Announcements
-
Trading Window
- Trading window closed from 1 October 2026 until 48 hours after half-year results.
-
Acquisition
- Subscribed 5,10,000 subsidiary shares for Rs. 51 lakh on 28 September 2026.
-
Change in Director(s)
- AGM approved five-year reappointments of Pramesh, Rajesh and Lokesh Goyal from 1 October 2026.
-
Shareholders meeting
- Goyal Salt's 16th AGM on 25 Sept 2026 passed 7 resolutions, including MD reappointments and related-party transactions.
-
Shareholders meeting
- Goyal Salt held its 16th AGM on 25 September 2026; members considered seven resolutions, voting results pending.
Annual reports
-
Annual Report 2026
from nse
-
Annual Report 2025
from nse
-
Annual Report 2024
from nse
Business Overview:[1]
GSL refines raw salt extracted from sub-soil brine in Rajasthan, producing premium industrial and edible salts for B2B and wholesale markets. Its product range includes triple refined free-flow iodized salt, industrial salt, double fortified salt, and triple refined half-dry salt, using an integrated processing method.