Garg Furnace Ltd

₹ 201 3.61%

17 Sep - close price

About

Incorporated in 1973, Garg Furnace Ltd does manufacturing and trading of Iron and Steel products^[1]

Key Points

Business Overview:^[1]^[2]
GFL is in the business of manufacturing non-alloy steel round bars, wire rods, and M S billets. It operates in the steel industry, primarily supplying to the agricultural, auto, nut and bolt and cycle parts market in India.

Website BSE

Market Cap ₹ 137 Cr.
Current Price ₹ 201
High / Low ₹ 207 / 109
Stock P/E 12.8
Book Value ₹ 145
Dividend Yield 0.00 %
ROCE 12.8 %
ROE 12.8 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 53.2% CAGR over last 5 years
Promoter holding has increased by 3.50% over last quarter.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Company has a low return on equity of 13.7% over last 3 years.
Promoter holding has decreased over last 3 years: -7.32%

* 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

Industrials Capital Goods Industrial Products Iron & Steel Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.75	61.75	65.40	71.02	62.33	62.16	62.97	74.16	60.15	61.38	92.39	75.37	57.18
	60.83	60.83	63.34	68.92	60.47	61.09	60.77	71.60	58.68	58.27	88.35	71.20	54.12
Operating Profit	0.92	0.92	2.06	2.10	1.86	1.07	2.20	2.56	1.47	3.11	4.04	4.17	3.06
OPM %	1.49%	1.49%	3.15%	2.96%	2.98%	1.72%	3.49%	3.45%	2.44%	5.07%	4.37%	5.53%	5.35%
	0.03	0.03	0.08	1.17	0.13	0.11	0.30	1.16	0.23	0.09	0.11	0.08	0.14
Interest	0.05	0.05	0.04	0.04	0.03	0.03	0.03	0.02	0.02	0.02	0.03	0.38	0.39
Depreciation	0.38	0.38	0.40	0.40	0.39	0.41	0.42	0.42	0.43	0.44	0.44	0.47	0.45
Profit before tax	0.52	0.52	1.70	2.83	1.57	0.74	2.05	3.28	1.25	2.74	3.68	3.40	2.36
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.94%	28.81%
	0.51	0.51	1.70	2.83	1.56	0.74	2.05	3.28	1.25	2.74	3.68	2.62	1.68
EPS in Rs	1.27	1.27	4.24	6.14	3.38	1.61	4.09	6.55	2.50	4.02	5.40	3.85	2.47
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	TTM
	146	90	54	66	112	99	119	179	238	258	262	289	286
	139	95	65	70	118	105	119	171	231	253	254	276	272
Operating Profit	8	-5	-11	-4	-6	-6	0	7	7	5	8	13	14
OPM %	5%	-5%	-21%	-7%	-5%	-7%	0.1%	4.2%	3.1%	1.9%	2.9%	4.4%	5%
	1	0	0	5	13	12	-3	0	0	2	2	0	0
Interest	8	7	1	1	1	1	0	0	0	0	0	0	1
Depreciation	1	1	1	1	1	1	1	1	1	2	2	2	2
Profit before tax	0	-13	-14	-1	5	4	-5	6	6	6	8	11	12
Tax %	-80%	0%	0%	-91%	0%	0%	1%	0%	0%	0%	0%	7%
	1	-13	-14	-0	5	4	-5	6	6	6	8	10	11
EPS in Rs	1.35	-33.00	-33.80	-0.32	12.75	8.93	-11.75	15.77	14.82	12.06	15.25	15.11	15.74
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	12%
5 Years:	19%
3 Years:	7%
TTM:	10%

Compounded Profit Growth
10 Years:	11%
5 Years:	53%
3 Years:	20%
TTM:	46%

Stock Price CAGR
10 Years:	33%
5 Years:	59%
3 Years:	13%
1 Year:	14%

Return on Equity
10 Years:	3%
5 Years:	18%
3 Years:	14%
Last Year:	13%

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	4	4	4	4	4	4	4	4	4	5	5	7
Reserves	27	14	0	0	5	9	4	11	17	44	57	92
	54	75	75	73	39	9	8	10	5	2	1	18
	64	19	12	5	10	25	28	25	33	11	14	17
Total Liabilities	148	112	92	82	58	48	44	50	59	61	78	133
	25	23	22	21	20	19	14	15	15	14	14	14
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	2	3	2	2	0	0	0	0	0	0	4	37
	121	86	67	59	38	29	29	35	43	46	59	82
Total Assets	148	112	92	82	58	48	44	50	59	61	78	133

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
	6	-18	-1	3	31	23	3	0	8	-13	4	-12
	-7	2	0	-0	3	-0	-0	-2	-4	-0	-5	-36
	3	15	-1	-1	-35	-23	-2	2	-6	19	6	42
Net Cash Flow	2	-2	-2	2	-2	-0	1	1	-1	5	4	-6
Free Cash Flow	-1	-18	-1	2	33	23	3	-2	6	-14	2	-14
CFO/OP	81%	395%	10%	-64%	-516%	-355%	2,164%	6%	118%	-267%	45%	-96%

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	212	171	237	129	35	35	33	21	27	32	32	25
Inventory Days	39	50	23	82	71	44	41	41	28	12	26	29
Days Payable	177	68	72	28	25	28	25	18	16	14	11	14
Cash Conversion Cycle	74	153	188	184	81	51	49	44	39	30	48	40
Working Capital Days	25	-73	-258	-200	-35	-19	-18	4	3	33	42	61
ROCE %	10%	-6%	-15%	-1%	-9%	-17%	-6%	32%	24%	15%	14%	13%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Billets Revenue Share
Percentage (%)

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	x.xx	x.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx	x.xx	x.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx				xxx.xx	xxx.xx
xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
x,xxx	xxx	xxx	xxx
								xx,xxx	xx,xxx

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Non Alloy Steel Round Revenue Share
Percentage (%)

Scrap Revenue Share
Percentage (%)

Wire Rod Revenue Share
Percentage (%)

Capacity Utilization
Percentage (%)

Steel Production Volume
Metric Tons (MT)

Electricity Consumption per MT of Production
KWH per Metric Ton

Installed Capacity
Metric Tons per Annum (MT p.a.)

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.23%	64.23%	68.86%	68.89%	49.36%	56.85%	53.41%	53.41%	53.41%	53.41%	53.41%	56.91%
	35.76%	35.76%	31.13%	31.11%	50.63%	43.16%	46.59%	46.59%	46.60%	46.59%	46.60%	43.08%
No. of Shareholders	1,903	1,928	2,025	2,062	2,752	3,043	3,133	3,171	3,216	3,207	3,121	3,116

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	64.23%	64.23%	64.23%	64.23%	64.23%	64.23%	64.23%	64.23%	68.86%	53.41%	53.41%	56.91%
	35.77%	35.77%	35.77%	35.76%	35.76%	35.76%	35.76%	35.75%	31.13%	46.59%	46.60%	43.08%
No. of Shareholders	1,554	1,558	1,550	1,526	1,529	1,521	1,530	1,921	2,025	3,133	3,121	3,116

Garg Furnace Ltd

Garg Furnace Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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Announcements

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