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Gokaldas Exports Ltd (GOKEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532630 NSE: GOKEX Textile | Small Cap | Gokaldas Exports Share Price

₹655.90 -13.00 (-1.94%)

As on 11-Jun'26 16:59

Gokaldas Exports Ltd (GOKEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532630 NSE: GOKEX Textile | Small Cap | Gokaldas Exports Share Price

₹655.90 -13.00 (-1.94%)

As on 11-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,806 Cr.
Current Price
₹655.9
52-Week Low / High
₹532 / 975
TTM EPS
₹27.8
TTM Sales
₹2,693 Cr.
Book Value per Share
₹322.3
P/E Ratio
23.57
Lower than its 5-year historical median
Industry PE
35.7
Price to Book (P/B)
2.04
Lower than its 5-year historical median
Price to Sales (P/S)
1.78
Lower than its 5-year historical median
EV/EBITDA
12.43
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
11.34%
Outperforms industry median
Return on Capital Employed (ROCE)
14.16%
Outperforms industry median
Return on Assets (ROA)
8.22%
Operating Profit Margin
9.6%
Net Profit Margin
7.72%
Gross Profit Margin
13.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
15.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.85%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
16.54%
Asset Quality
Promoter Holding
9.15%
Pledged shares (%) of Promoter's holding (%)
96.28%
Reserves
₹2,325 Cr.
Equity
₹36.6 Cr.
Face Value
₹5
All Time Low / High
₹22.75 / 1260.00

Gokaldas Exports stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Gokaldas Exports Ltd a good quality company?
Gokaldas Exports Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Gokaldas Exports Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gokaldas Exports Ltd vs industry peers?
Gokaldas Exports Ltd revenue CAGR is 12.61%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Gokaldas Exports Ltd?
Promoters hold 9.15% of the Gokaldas Exports Ltd, with 96.28% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Gokaldas Exports Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 25.9% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gokaldas Exports Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 17.7%-1.6%1.2%9.5%11.1%9.5%21.9%27.8%18.3%14.2%-
Value Creation
Index
0.3-1.1-0.9-0.3-0.2-0.30.61.00.40.1-

Growth Parameters

Sales 1,1239151,0311,1731,3681,2091,7892,2212,1392,4772,693
Sales YoY Gr.--18.5%12.7%13.8%16.6%-11.6%47.9%24.2%-3.7%15.8%-
Adj EPS 6.7-16.2-13.99.52.16.317.22825.82627.8
YoY Gr.--342.1%NANA-77.7%197.2%174.6%62.4%-7.8%0.9%-
BVPS (₹) 61.24736.554.850.864.3118.2143.5204.3291.2322.3
Adj Net
Profit
23.3-56.6-48.740.69.126.9102169163186204
Cash Flow from Ops. 84.411.725.251.397.911812136813077.6-
Debt/CF from Ops. 4.140.618.87.443.10.50.11.21.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.2%12.6%11.5%15.8%
Adj EPS 16.3%65.3%14.7%0.9%
BVPS18.9%41.8%35.1%42.6%
Share Price 17.8% 36.9% 10.6% -29.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
12.6-29.9-33223.910.320.321.114.610.79.1
Op. Profit
Mgn %
3.3-3.4-2.36.65.48.510.211.811.99.69.7
Net Profit
Mgn %
2.1-6.2-4.73.50.72.25.77.67.67.57.6
Debt to
Equity
1.62.93.71.61.81.30.100.10.10
Working Cap
Days
13020022720718421014711614919098
Cash Conv.
Cycle
56961079485987659647147

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,1239151,0311,1731,3681,2091,7892,2212,1392,477
Operating Expenses + 1,0859461,0541,1121,2941,1091,6061,9581,8852,240
Manufacturing Costs29327875645955898489102
Material Costs5954835375236896038871,1779981,196
Employee Cost 122108336394467371539619706827
Other Costs 75771071317979927892115
Operating Profit 37-31-236274101183263254237
Operating Profit Margin (%) 3.3%-3.4%-2.3%5.3%5.4%8.3%10.2%11.8%11.9%9.6%
Other Income + 283947222912323746107
Exceptional Items 4500-62000600
Interest 39363733373440252420
Depreciation 20171619545258717978
Profit Before Tax 51-46-30253226117210197246
Tax -1001-1000313355
Profit After Tax 61-46-31263226117178164191
PAT Margin (%) 5.4%-5.1%-3.0%2.2%2.4%2.2%6.5%8.0%7.7%7.7%
Adjusted EPS (₹)17.4-13.2-8.86.07.66.119.829.525.926.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%3.40%0%0%

Valuation of Gokaldas Exports - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2131641272352172766978691,2952,081
Share Capital 17171721212129303236
Reserves 1951471102131962546678391,2632,045
Debt +313474472381391339589157115
Long Term Debt00000192000
Short Term Debt313474472381391320569157115
Minority Interest0000000000
Trade Payables1048098851148611884138171
Others Liabilities 857697122216298341350330368
Total Liabilities 7157947948239389981,2141,3121,9192,735

Fixed Assets

Net Fixed Assets +929495107171235282261254268
Gross Block374111130159277385471500548638
Accumulated Depreciation282173552105150189239294370
CWIP 2101100004
Investments 292920205557174365504842
Inventories194187173258286258433292363458
Trade Receivables8021221616214418092136210267
Cash Equivalents 2094517111215132186122
Others Assets 109228272264269254221238503773
Total Assets 7157947948239389981,2141,3121,9192,735

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 841225519811812136813078
PBT 51-46-30253226117204197246
Adjustment 5444551628887917521
Changes in Working Capital 311411-2931-70112-101-151
Tax Paid -2-1-1402-13-39-41-38
Cash Flow From Investing Activity + -8326-140-39-32-57-283-448-462
Capex 36-11-12-22-8-34-53-33-51-62
Net Investments -27925-1010-40-817-166147-237
Others 159129121010-21-84-543-163
Cash Flow From Financing Activity + 4-54-40-57-44-85-42-85318493
Net Proceeds from Shares 10068002934248597
Net Proceeds from Borrowing -18-3000000000
Interest Paid -33-36-38-34-29-29-25-10-12-14
Dividend Paid 00000000-60
Others 5512-2-91-15-57-309-7988-90
Net Cash Flow 6-16-28-61502211108

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)32.86-24.53-21.1914.1514.3210.642422.7815.1711.34
ROCE (%)17.69-1.581.29.4711.119.4921.9227.8218.2914.16
Asset Turnover Ratio1.651.221.31.451.551.251.621.761.321.06
PAT to CFO Conversion(x)1.38N/AN/A1.963.064.541.032.070.790.41
Working Capital Days
Receivable Days25.5057.9075.7058.8040.7048.8027.8018.7029.5035.10
Inventory Days65.4075.5063.706772.6082.1070.4059.6055.9060.50
Payable Days62.9069.5060.406452.8060.3041.8031.2040.6047.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.0022.3796.280.0096.2896.2896.28
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Gokaldas Exports Ltd FAQs

The current trading price of Gokaldas Exports on 11-Jun-2026 16:59 is ₹655.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Jun-2026 the market cap of Gokaldas Exports stood at ₹4,806 Cr

The latest P/E ratio of Gokaldas Exports as of 10-Jun-2026 is 23.57.

The latest P/B ratio of Gokaldas Exports as of 10-Jun-2026 is 2.04.

The 52-week high of Gokaldas Exports is ₹974.7 and the 52-week low is ₹531.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gokaldas Exports is ₹2,693 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gokaldas Exports Ltd is a good quality company.

The key valuation ratios of Gokaldas Exports Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Gokaldas Exports Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Gokaldas Exports Ltd

Gokaldas Exports Limited (GEL) is a leading apparel manufacturer since 1979. The company exports to some of the major fashion brands and retailers across many countries. The company consistently strives to deliver excellence every step of the way.

The company’s world class apparel manufacturing facilities are complemented by integrated ancillary units which provide services such as laundry, embroidery, printing, quilting, and poly wadding. It is one of the largest organized apparel manufacturers in India with a manufacturing capacity of multimillion apparel pieces per annum.

The company has a proud workforce of nearly thousands of people, 80% of whom are women. All the units are certified to international standards for environmental and social compliance. The Company is listed on the Bombay Stock Exchange (BSE) Limited and National Stock Exchange (NSE) Limited.

Business area of the company

The company is engaged in the designing, manufacturing and exporting of a wide range of apparel products ranging from outerwear, activewear and fashion wear for all seasons.

Products

  • High fashion garments
  • Outerwear
  • Industrial workwear
  • Healthcare garments
  • Sportswear

Services offered

  • Laying
  • Cutting
  • Sewing
  • Checking
  • Labs
  • Washing
  • Ironing
  • Finishing
  • Design
  • Embroidery
  • Printing
  • Laser
  • Fusing
  • Scraping
  • Hand Grinding
  • Quilting
  • Polyfill

Milestones

  • 1947: After India’s partition in the year 1947, Jhamandas Hinduja and his two brothers, Naraindas and Devkishendas, moved their Sindh-based silk trading business Gokaldas Harbhagwandas Partners to India.
  • 1979: The business was split among the three brothers, with Jhamandas Hinduja taking the lead of the major successor, Gokaldas Exports. The Company was subsequently run by his three sons, Madanlal, Rajendra, and Dinesh Hinduja, who were involved since its inception.
  • 2005: The Company went public in 2005 and was listed on Indian stock exchanges.
  • 2007: Gokaldas Exports Ltd. crossed the Rs 10 billion sales milestone, a first for an Indian apparel Company. Looking at the growing potential of the textile industry, Blackstone, the global private equity giant, acquired a controlling stake of approximately 70% in the Company.
  • 2007-2017: Under the management and leadership of Blackstone, the Company confronted a changing business environment ushered in by abolition of Multi Fibre Agreement imposed Quotas and a growing apparel business in Bangladesh.
  • 2017: Blackstone steadily reduced its investment in the Company and finally exited from its decadelong investment by selling its stake to another Private Equity firm Clear Wealth Consultancy Services LLP.
  • 2021: Clear Wealth now holds about 33% of the Company, and the Company is listed on BSE and NSE of India. With the COVID-19 pandemic, Gokaldas Exports faced a new kind of challenge, but it turned the crisis into an opportunity and achieved greater market share in the bargain. The journey continues as the Company gears up to take monumental strides.
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