Gretex Industries Ltd

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Gretex Industrie Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Gretex Industries Ltd

₹ 215 -4.51%
11 Sep 3:31 p.m.
gretexindustries.com NSE - SME: GRETEX
About

Gretex Industries Limited is a Kolkata-based wholesale/retail distributor of musical instruments, professional audio/AV equipment and accessories, with 23+ brand partnerships, 5,500+ products and multi-channel sales through retail, dealers, institutions/B2B and online.[1]

Key Points

Business model & products
The company sources branded products and earns trading margins through wholesale/distribution and Yamaha Music Square retail stores. The Products include pianos/keyboards, guitars, drums, wind/string instruments, microphones, mixers, speakers, amplifiers, studio/PA systems, home theatre/AV, and accessories. FY26 also introduced four OEM-made products under the in-house GRETEX brand. [1]

Website NSE - SM
  • Market Cap ₹ 333 Cr.
  • Current Price ₹ 215
  • High / Low ₹ 304 / 180
  • Stock P/E 263
  • Book Value ₹ 33.8
  • Dividend Yield 0.00 %
  • ROCE 2.09 %
  • ROE 3.27 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Earnings include an other income of Rs.0.76 Cr.
  • Company's cost of borrowing seems high

* 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 Media, Entertainment & Publication Entertainment Media & Entertainment

Part of Nifty SME Emerge

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Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
4.83 3.03 6.59 5.32 7.74 10.74 11.14 15.71 15.42 15.69 17.23 25.68 25.62
5.00 3.03 6.30 5.22 7.67 10.50 10.60 15.25 15.49 15.77 16.63 25.38 25.26
Operating Profit -0.17 0.00 0.29 0.10 0.07 0.24 0.54 0.46 -0.07 -0.08 0.60 0.30 0.36
OPM % -3.52% 0.00% 4.40% 1.88% 0.90% 2.23% 4.85% 2.93% -0.45% -0.51% 3.48% 1.17% 1.41%
0.07 -0.50 0.10 0.09 0.19 0.27 -0.13 0.21 13.01 0.74 1.62 2.01 -1.25
Interest 0.02 0.01 0.01 0.00 0.04 0.05 0.01 0.09 0.16 0.10 0.42 0.21 0.08
Depreciation 0.06 0.05 0.02 0.02 0.02 0.01 0.02 0.04 0.04 0.04 0.16 0.22 0.27
Profit before tax -0.18 -0.56 0.36 0.17 0.20 0.45 0.38 0.54 12.74 0.52 1.64 1.88 -1.24
Tax % -27.78% 21.43% 0.00% 0.00% -85.00% -6.67% 55.26% 25.93% 24.80% 19.23% -21.95% 17.02% -76.61%
-0.13 -0.68 0.36 0.17 0.37 0.47 0.17 0.40 9.58 0.42 2.00 1.56 -0.28
EPS in Rs -0.31 -1.61 0.85 0.40 0.88 1.12 0.40 0.95 22.75 0.28 1.35 1.01 -0.18
Raw PDF

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
3.89 3.71 2.38 8.05 14.21 11.14 9.62 13.06 21.88 31.13 32.92 51.30
3.03 2.71 2.22 7.70 13.98 11.42 8.74 12.89 21.10 30.75 32.43 50.65
Operating Profit 0.86 1.00 0.16 0.35 0.23 -0.28 0.88 0.17 0.78 0.38 0.49 0.65
OPM % 22.11% 26.95% 6.72% 4.35% 1.62% -2.51% 9.15% 1.30% 3.56% 1.22% 1.49% 1.27%
0.16 0.04 -1.44 0.08 0.08 0.22 -1.00 0.28 0.15 13.23 1.31 0.76
Interest 0.26 0.21 0.16 0.12 0.12 0.05 0.01 0.04 0.07 0.25 0.55 0.28
Depreciation 0.34 0.45 0.50 0.14 0.14 0.13 0.07 0.05 0.04 0.09 0.09 0.49
Profit before tax 0.42 0.38 -1.94 0.17 0.05 -0.24 -0.20 0.36 0.82 13.27 1.16 0.64
Tax % 33.33% 36.84% -24.23% 64.71% 60.00% -4.17% 55.00% -47.22% 21.95% 24.79% -37.07% -100.00%
0.28 0.24 -1.47 0.06 0.02 -0.23 -0.32 0.54 0.64 9.98 1.60 1.27
EPS in Rs 44.16 0.76 -3.49 0.14 0.05 -0.55 -0.76 1.28 1.52 23.70 1.08 0.82
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: 30%
5 Years: 40%
3 Years: 33%
TTM: 56%
Compounded Profit Growth
10 Years: 18%
5 Years: 82%
3 Years: 26%
TTM: -21%
Stock Price CAGR
10 Years: %
5 Years: 84%
3 Years: 76%
1 Year: 19%
Return on Equity
10 Years: 13%
5 Years: 17%
3 Years: 17%
Last Year: 3%

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 0.06 3.16 4.21 4.21 4.21 4.21 4.21 4.21 4.21 4.21 14.81 15.51
Reserves 2.29 0.30 -0.26 -0.20 -0.18 -0.41 -0.73 -0.19 0.46 19.42 10.41 36.89
4.19 2.71 1.16 1.12 0.89 0.09 0.03 0.82 4.44 1.05 9.73 0.71
0.80 0.66 0.45 0.16 0.62 1.42 0.89 0.76 0.98 4.92 4.69 7.47
Total Liabilities 7.34 6.83 5.56 5.29 5.54 5.31 4.40 5.60 10.09 29.60 39.64 60.58
4.69 3.80 1.33 1.20 1.08 0.79 0.08 0.05 0.71 0.64 0.77 2.03
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.22 0.69 0.69 0.23 0.00 0.00 0.00 1.32 0.68 14.11 15.51 31.47
2.43 2.34 3.54 3.86 4.46 4.52 4.32 4.23 8.70 14.85 23.36 27.08
Total Assets 7.34 6.83 5.56 5.29 5.54 5.31 4.40 5.60 10.09 29.60 39.64 60.58

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
0.81 0.04 -2.15 -0.36 0.32 0.75 -0.18 1.37 -0.25 8.10 -6.41 2.98
-0.54 -0.36 1.00 0.51 0.27 0.05 0.16 -1.29 -0.04 -4.44 -1.61 -15.65
-0.44 0.38 1.12 -0.13 -0.52 -0.47 -0.04 -0.04 -0.07 -3.64 8.13 14.03
Net Cash Flow -0.17 0.06 -0.04 0.02 0.06 0.33 -0.05 0.04 -0.36 0.03 0.11 1.37
Free Cash Flow 0.26 0.01 -1.43 -0.36 0.30 0.82 -0.01 1.36 -0.95 8.08 -6.63 2.29
CFO/OP 95% 4% -1,344% -103% 139% -268% -20% 806% -32% 2,116% -727% 494%

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 112.60 125.93 177.90 96.12 59.59 47.18 37.56 28.23 35.70 32.95 44.79 32.80
Inventory Days 74.17 417.83 57.63 39.10 60.53 86.86 67.35 64.40 59.64 138.19 94.80
Days Payable 54.65 105.66 6.75 17.01 48.64 34.23 19.24 9.17 13.12 50.71 55.16
Cash Conversion Cycle 112.60 145.45 490.07 147.01 81.68 59.07 90.19 76.34 90.93 79.47 132.28 72.44
Working Capital Days -94.77 16.73 346.60 137.84 76.29 75.03 107.00 51.70 13.68 99.55 93.80 120.24
ROCE % 11.41% 9.28% -4.79% 5.66% 3.38% -4.31% 24.59% 9.58% 12.76% 80.62% 5.74% 2.09%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2025
Number of exclusive distribution brands
count

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Number of states/territories in distribution network
count
Permanent employees on rolls
count
Number of Yamaha Music Square retail stores
count
Jam Square community engagement - artist entries
count
Number of professional audio venues nationwide
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Aug 2026
52.99% 52.99% 52.99% 52.99% 63.40% 63.64% 63.64% 63.39% 63.39% 64.95% 64.95% 65.66%
0.00% 0.00% 0.00% 0.00% 0.20% 0.22% 0.22% 0.21% 0.21% 0.21% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.18% 0.18% 0.18% 0.17% 0.17% 0.17% 0.17% 0.15%
47.01% 47.01% 47.01% 47.01% 36.22% 35.96% 35.96% 36.22% 36.22% 34.67% 34.88% 34.19%
No. of Shareholders 54555660107144145156204218272293

* 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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Documents

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