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Gaja Alternative Asset Management Ltd (GAJA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544885 NSE: GAJA Finance - NBFC | Small Cap | Gaja Alternative Ass Share Price
₹163.90 1.75 (1.08%)
As on 02-Sep'26 16:59
Gaja Alternative Asset Management Ltd (GAJA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544885 NSE: GAJA Finance - NBFC | Small Cap | Gaja Alternative Ass Share Price
₹163.90 1.75 (1.08%)
As on 02-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,311 Cr.
Current Price
₹163.9
52-Week Low / High
₹150 / 191
TTM EPS
₹0.7
Book Value per Share
₹57.4
P/E Ratio
230.71
Industry PE
27.3
Price to Book (P/B)
2.85
EV/EBITDA
118.39
Dividend Yield
0.46%
Profitability Efficiency
Return on Equity (ROE)
3.39%
Return on Capital Employed (ROCE)
5.22%
Return on Assets (ROA)
2.79%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Slowing versus 3-year growth rate
0.37%
Book Value Growth (1 Year)
Improving versus 3-year growth rate
43.67%
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
0.00%
TTM Sales
₹55 Cr.
Reserves
₹739 Cr.
Equity
₹70.5 Cr.
Face Value
₹5
All Time Low / High
₹149.55 / 191.35
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Gaja Alternative Asset Management Ltd a good quality company?
Gaja Alternative Asset Management Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare 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 Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
-
How efficiently has it grown and managed operations?
By checking its Total Asset growth.
-
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.
How does Gaja Alternative Asset Management Ltd performance compare with that of its Peers?
AUM Growth of Gaja Alternative Asset Management Ltd vs Industry Peers?
Gaja Alternative Asset Management Ltd AUM CAGR is 19.24%, compared to the 5-year industry median CAGR of 10.14%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Gaja Alternative Asset Management Ltd?
Promoters hold 54.23% of the Gaja Alternative Asset Management Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Gaja Alternative Asset Management Ltd over the last decade?
Over the last - years, the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Gaja Alternative Asset Management Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 18.5 | 19 | 22.2 | 27.7 | 12.1 | 30.9 | 39 | 58.1 | 51.7 | 55 | 55 | |
| YoY Gr. Rt. % | - | 3% | 16.9% | 24.8% | -56.3% | 154.2% | 26.4% | 48.9% | -10.9% | 6.4% | - | |
| Adj EPS (₹ ) | -0 | 0.7 | 4.4 | 3.8 | 0.4 | 0.1 | 0 | 1 | 0.5 | 0.9 | 0.7 | |
| YoY Gr. Rt. % | - | NA | 573.9% | -14.2% | -88.3% | -72.7% | -66.7% | 2500% | -51% | 74.5% | - | |
| BVPS (₹ ) | 6.2 | 6.2 | 9.8 | 12.6 | 13.2 | 13.3 | 13.4 | 22.2 | 22.2 | 31.9 | 57.4 | |
| YoY Gr. Rt. % | - | 0.8% | 57.4% | 28.4% | 4.8% | 0.9% | 0.3% | 66% | -0.1% | 43.7% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | -0.4 | 9.2 | 48.1 | 30.3 | 2.9 | 0.8 | 0.3 | 5.2 | 1.9 | 2.8 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 12.9% | 35.3% | 12.2% | 6.4% | ||||
| Adj EPS | NA | 15.1% | 181.3% | 74.5% | ||||
| BVPS | 20% | 19.3% | 33.6% | 43.7% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | -1.6 | 33.6 | 193 | 132.9 | 37.5 | 4.1 | 1 | 18.7 | 10.2 | 18.2 | 18.2 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | -0.5 | 10.5 | 54.5 | 33.6 | 3.5 | 0.9 | 0.3 | 5.9 | 2.3 | 3.4 | 1.2 | |
Valuation of Gaja Alternative Ass - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income + | 20 | 29 | 85 | 88 | 19 | 36 | 41 | 60 | 55 | 68 |
| Exceptional Items ⓘ | 1 | 10 | 62 | 60 | 7 | 5 | 2 | 1 | 3 | 13 |
| Expenditure ⓘ + | 20 | 24 | 33 | 42 | 21 | 36 | 39 | 41 | 54 | 56 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -0 | 4 | 52 | 46 | -2 | 0 | 2 | 19 | 1 | 13 |
| Taxes ⓘ | -0 | -2 | 9 | 9 | -7 | -1 | 1 | 8 | -4 | 3 |
| Profit After Tax | -0 | 6 | 43 | 37 | 5 | 1 | 0 | 11 | 5 | 10 |
| Adjusted EPS (₹) | -0.0 | 0.7 | 4.4 | 3.8 | 0.4 | 0.1 | 0.0 | 1.0 | 0.5 | 0.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 18.30% | 0% | 0% | 0% | 0% | 0% | 0% | 84.50% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital + | 61 | 61 | 96 | 124 | 136 | 137 | 138 | 231 | 231 | 362 |
| Short term borrowings | 7 | 5 | 5 | 5 | 36 | 1 | 3 | 0 | 0 | 33 |
| Long Term Borrowings | 0 | -3 | -5 | -3 | -2 | -2 | -1 | 34 | 32 | 40 |
| Current Liabilities | 9 | 10 | 19 | 12 | 51 | 4 | 7 | 7 | 9 | 45 |
| Trade Payables | 1 | 1 | 4 | 4 | 1 | 1 | 2 | 1 | 5 | 5 |
| Other Liabilities | -8 | -6 | -9 | -9 | -37 | -2 | -5 | -2 | -5 | -38 |
| Total Liabilities ⓘ | 70 | 68 | 110 | 133 | 185 | 139 | 144 | 272 | 271 | 446 |
Assets | ||||||||||
| Non Current Asset + | 67 | 63 | 64 | 70 | 75 | 106 | 125 | 245 | 240 | 379 |
| Current Asset + | 3 | 6 | 47 | 63 | 109 | 33 | 19 | 28 | 31 | 67 |
| Total Assets ⓘ | 70 | 68 | 110 | 133 | 185 | 139 | 144 | 272 | 271 | 446 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 0 | -54 | -32 | 33 | -18 | 1 | 17 | 14 | -30 |
| Cash Flow From Investing Activity ⓘ | -0 | 0 | 63 | 53 | -84 | 68 | -17 | -9 | -5 | -126 |
| Cash Flow From Financing Activity ⓘ | -2 | 0 | -8 | -9 | 39 | -35 | 4 | -6 | -7 | 152 |
| Net Cash Flow ⓘ | -2 | 0 | 1 | 12 | -12 | 15 | -12 | 2 | 3 | -4 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios | ||||||||||
| EPS (₹) | -153.40 | 3,257.90 | 21,894.30 | 18,821.70 | 2,211 | 614 | 192.70 | 5,218.20 | 1,267.70 | 0.90 |
| DPS (₹) | 0 | 0 | 4,000 | 0 | 0 | 0 | 0 | 0 | 0.50 | 0.80 |
| BVPS (₹) | 30947.9 | 31205.8 | 49100.1 | 63099.5 | 66054.6 | 66668.6 | 66861.4 | 111026.1 | 55494.5 | 31.9 |
Performance Ratios | ||||||||||
| ROA (%) | -0.4 | 9.2 | 48.1 | 30.3 | 2.9 | 0.8 | 0.3 | 5.2 | 1.9 | 2.8 |
| ROE (%) | -0.5 | 10.5 | 54.5 | 33.6 | 3.5 | 0.9 | 0.3 | 5.9 | 2.3 | 3.4 |
| ROCE (%) | -0.6 | 6.8 | 61.8 | 40.0 | 0.3 | 2.4 | 1.4 | 10.7 | 0.8 | 5.2 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
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Gaja Alternative Asset Management Ltd FAQs
The current trading price of Gaja Alternative Ass on 02-Sep-2026 16:59 is ₹163.9.
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 01-Sep-2026 the market cap of Gaja Alternative Ass stood at ₹2,311.2 Cr
The latest P/E ratio of Gaja Alternative Ass as of 01-Sep-2026 is 230.7.
The latest P/B ratio of Gaja Alternative Ass as of 01-Sep-2026 is 2.85.
The 52-week high of Gaja Alternative Ass is ₹191.3 and the 52-week low is ₹149.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gaja Alternative Ass is ₹55.04 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gaja Alternative Asset Management Ltd is a below average quality company.
The key valuation ratios of Gaja Alternative Asset Management 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 Weak which suggest that the price of Gaja Alternative Asset Management Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Gaja Alternative Asset Management Ltd
Gaja Alternative Asset Management was incorporated on April 9, 1999 in New Delhi as ‘View Advisors Private Limited’, a private limited company. Subsequently, pursuant to a special resolution passed by the shareholders dated May 18, 2006, the name of the company was changed to ‘Gaja Advisors Private Limited’ on June 8, 2006. Thereafter, pursuant to a special resolution passed by the shareholders dated May 25, 2022, the name of the company was changed to ‘Gaja Alternative Asset Management Private on July 5, 2022. The company was then converted into a public limited company pursuant to a special resolution adopted by the shareholders on December 9, 2024, consequent to which, the name of the company was changed to ‘Gaja Alternative Asset Management Limited’ on January 1, 2025.
The company is a well-established alternative asset management company. It acts as an investment manager to India focused funds, including category II and category I alternative investment funds (AIFs) and also acts as advisors to offshore funds, which provide capital to companies in India. It is an experienced, independent and home-grown alternative asset management company (AMC).
The portfolio of investments across the funds managed and advised by the company, has been focused on various sectors, including, EEE, financial services, consumer and digital technology. It derives its income primarily from three income streams i.e. Management Fee, Carried Interest, and Income from Sponsor Commitment.
Business area of the company
The company is primarily engaged in managing and advising funds including Domestic Venture Capital Funds (DVCFs) and Alternative Investment Funds (AIFs) including offshore funds, which provide capital to companies in India.
Awards, accreditations and recognition
- 2011: Best Growth Capital Investor, Apex Awards, Venture Intelligence.
- 2019: Mid-market PE Investor of the Year (2018), Apex 2019 Awards, Venture Intelligence.
- 2019: Operational Value Add Award, Asian Private Equity and Venture Capital Awards.
- 2020: Mid-market PE Investor of the Year (2019), Apex 2020 Awards, Venture Intelligence.
History and milestones
- 2006: Commencement of operations under the ‘Gaja Capital’ brand
- 2007: Launch of Fund II.
- 2010: First transaction in the banking sector by Fund II.
- 2013: First buy-out transaction with Fund II’s acquisition of majority stake in an education platform.
- 2015: Launch of Fund III.
- 2017: First cross-border M&A exit through sale of Fund II’s stake in an alcobev company to a US-based multinational.
- 2018: First technology buy-out transaction with Fund III’s acquisition of majority stake in a B2B ed-tech solutions provider.
- 2019: First secondary buy-out exit through sale of Fund II’s stake in an education platform.
- 2021: Launch of Fund IV.
- 2022: Name of the Company changed to Gaja Alternative Asset Management Private Limited to reflect the broader focus on the Indian alternatives industry.
- 2025: Entry into secondaries business.
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