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Gujarat State Financial Corporation Ltd (GUJSTATFIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532160 NSE: GUJSTATFIN Finance Term Lending | Small Cap | Guj. State Fin. Corp Share Price

₹10.74 0.07 (0.66%)

As on 05-Jun'26 16:59

Gujarat State Financial Corporation Ltd (GUJSTATFIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532160 NSE: GUJSTATFIN Finance Term Lending | Small Cap | Guj. State Fin. Corp Share Price

₹10.74 0.07 (0.66%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹96 Cr.
Current Price
₹10.7
52-Week Low / High
₹8 / 18
TTM EPS
₹-14.3
Book Value per Share
₹-358.3
P/E Ratio
0.00
Industry PE
8.8
Price to Book (P/B)
-0.03
In line with its 5-year historical median
EV/EBITDA
54.58
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Return on Capital Employed (ROCE)
0.00%
Return on Assets (ROA)
-58.81%
Growth Momentum
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
-
-
Book Value Growth (1 Year)
-
-
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
0.00%
TTM Sales
₹0.1 Cr.
Reserves
₹-3,282 Cr.
Equity
₹89.1 Cr.
Face Value
₹10
All Time Low / High
₹0.57 / 39.96

Gujarat State Financial Corporation stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is Gujarat State Financial Corporation Ltd a good quality company?
Gujarat State Financial Corporation Ltd is a quality company, based on a 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.

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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.

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How does Gujarat State Financial Corporation Ltd performance compare with that of its Peers?
Q.1 AUM Growth of Gujarat State Financial Corporation Ltd vs Industry Peers?
Gujarat State Financial Corporation Ltd AUM CAGR is 5.89%, compared to the 5-year industry median CAGR of 3.91%, indicating faster growth and gaining its market share.
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Q.1 Promoter shareholding and pledge status of Gujarat State Financial Corporation Ltd?
Promoters hold 83.95% of the Gujarat State Financial Corporation Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Gujarat State Financial Corporation Ltd over the last decade?
Over the last 9 years, the stock has delivered a CAGR of 16% based on the current price.
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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 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.
Gujarat State Financial Corporation Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Operating Income (₹ Cr.)33.717.117.721.119.113.810.613.820.317.20
YoY Gr. Rt. %--49.4%3.6%19.1%-9.2%-27.8%-23%29.5%47.5%-15.5%-
Adj EPS (₹ ) -11.8-13.2-13-12.9-13.2-13.8-14.3-14-13.4-14.1-14.3
YoY Gr. Rt. %-NANANANANANANANANA-
BVPS (₹ )-221.9-235-248-260.9-274.1-287.9-302.2-316.2-329.9-344-358.3
YoY Gr. Rt. %-NANANANANANANANANA-
To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ
Net Profit/Total Funds (%)-90.9-92.9-85.9-78.5-73.8-72.4-72.2-67.6-60.1-58.80

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Net Interest Income-7.2%-2.1%17.3%-15.5%
Adj EPSNANANANA
BVPSNANANANA
Share Price 14.6% 27.6% 20% -35.3%

Key Financial Ratios

RATIOS \ YEARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Asset Quality Ratio To view Asset Quality Ratio Colour Rating Guide click here ⓘ
Net NPA to Net Advances (%)0000000000-
Capitalization Ratio To view Capitalization Ratio Colour Rating Guide click here ⓘ
Capital Adequacy Ratio (%) 0000000000-
Margins
Net Profit Margin (%)-311.5-686.5-653.5-545.5-614.2-890.3-1202.8-909.2-587.1-730.1-90892.2
Performance Ratios To view Performance Ratios Colour Rating Guide click here ⓘ
Return on Equity (%)00000000004

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Income + 35.4918.0717.9821.7619.4314.4311.1314.3621.5017.25
Interest Income33.7117.0717.6821.0619.1213.8110.6313.7620.3017.17
Other Income ⓘ 10.012.931.482.961.610.080.17000
Exceptional Items ⓘ 1.7810.310.700.310.630.510.601.190.08
Expenditure ⓘ + 140.48135.25133.51136.62136.87137.35138.94139.51140.70142.59
Interest Expense ⓘ 121.10123.67125.98128.05130131.89133.74135.62137.48139.34
Operating Expenses ⓘ 9.388.656.055.615.265.385.033.893.223.25
Provisions 10.012.931.482.961.610.080.17000
Exceptional Items ⓘ 0000000000
Profit Before Tax ⓘ -104.99-117.18-115.53-114.87-117.44-122.92-127.81-125.15-119.21-125.34
Taxes ⓘ 0000000000
Profit After Tax -104.99-117.18-115.53-114.87-117.44-122.92-127.81-125.15-119.21-125.34
Adjusted EPS (₹)-11.8-13.2-13.0-12.9-13.2-13.8-14.3-14.0-13.4-14.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Guj. State Fin. Corp - 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

Equity Capital +-1,972.64-2,089.82-2,205.35-2,320.21-2,437.65-2,560.57-2,688.38-2,813.52-2,934.93-3,060.59
Share Capital ⓘ 93.7293.7293.7293.7293.7293.7293.7293.7293.7293.72
Reserves ⓘ -2,066.36-2,183.54-2,299.06-2,413.93-2,531.37-2,654.29-2,782.09-2,907.24-3,028.65-3,154.31
Short term borrowings0000000000
Long Term Borrowings2,092.402,215.992,341.972,470.022,600.022,731.912,865.653,001.273,138.753,278.09
Current Liabilities 3.163.252.843.342.892.782.692.612.422.53
Trade Payables0000000000
Other Liabilities-000-0-0-0-00-0-0
Total Liabilities ⓘ 122.92129.42139.47153.15165.26174.12179.96190.36206.24220.03

Assets

Non Current Asset +14.6314.0112.8412.5511.9311.4710.8911.0914.0214.79
Loan Asset 0000000000
Other Non Current Asset ⓘ 14.6314.0112.8412.5511.9311.4710.8911.0914.0214.79
Current Asset +108.29115.41126.63140.60153.33162.65169.07179.27192.23205.23
Current Investment0000000000
Other Current Asset108.29115.41126.63140.60153.33162.65169.07179.27192.23205.23
Total Assets ⓘ 122.92129.42139.47153.15165.26174.12179.96190.36206.24220.03

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ 1.10-1.682.934.541.70-1.22-13.90-8.12-11.58-13.67
Cash Flow From Investing Activity ⓘ 10.628.81-2.27-6.51-1.801.299.459.3210.8214.19
Cash Flow From Financing Activity ⓘ 0000000000
Net Cash Flow ⓘ 11.727.120.66-1.97-0.100.08-4.461.20-0.760.51

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Operational & Financial Ratios
EPS (₹)-11.80-13.20-13-12.90-13.20-13.80-14.30-14-13.40-14.10
DPS (₹)0000000000
BVPS (₹)-221.9-235-248-260.9-274.1-287.9-302.2-316.2-329.9-344

Performance Ratios

ROA (%)-90.9-92.9-85.9-78.5-73.8-72.4-72.2-67.6-60.1-58.8
ROE (%)0.00.00.00.00.00.00.00.00.00.0
ROCE (%)0.00.00.00.00.00.00.00.00.00.0

Valuation Parameters

Price/Book(x)-0.0-0.0-0.00.0-0.0-0.0-0.0-0.0-0.1-0.0

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Gujarat State Financial Corporation Ltd FAQs

The current trading price of Guj. State Fin. Corp on 05-Jun-2026 16:59 is ₹10.74.

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 04-Jun-2026 the market cap of Guj. State Fin. Corp stood at ₹95.71 Cr

The latest P/E ratio of Guj. State Fin. Corp as of 04-Jun-2026 is 0.00.

The latest P/B ratio of Guj. State Fin. Corp as of 04-Jun-2026 is -0.03.

The 52-week high of Guj. State Fin. Corp is ₹17.99 and the 52-week low is ₹8.40.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Guj. State Fin. Corp is ₹0.14 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gujarat State Financial Corporation Ltd is a below average quality company.

The key valuation ratios of Gujarat State Financial Corporation Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Gujarat State Financial Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Gujarat State Financial Corporation Ltd

Gujarat State Financial Corporation (GSFC) incorporated on May 1, 1961 is a pioneer term lending development financial institution in the State of Gujarat. It is created under the State Financial Corporation Act, 1951 passed by Parliament. GSFC’s mandate is to provide finance to small and medium scale enterprises.

Formed in 1960, GSFC has sanctioned loans and advances of over Rs.4400 crores; out of which, it has disbursed over Rs.3,300 crores to 47,000 units in the state. This has created almost 6,83,000 jobs in Gujarat. The corporation has played a stellar role in creating new and first time entrepreneurs, has provided much needed finance to small and medium scale enterprises and has played a significant role in the industrial development and economic growth of Gujarat.

The company’s main objective is to provide financial assistance to small and medium scale new/existing industrial and service sector units all over Gujarat for acquisition of fixed assets, preliminary and pre-operative expenses, expansion, modernization, diversification etc.

GSFC has played an important role in the industrial development of the state. Till date, it has financed 47,331 units and disbursed Rs. 3,300 crore, generating employment for over 6,00,000 persons. Many units financed by it are now well established and have also graduated from small to medium and large scale.

Since the last few years, corporation is passing through financially difficult times. Due to very heavy NPA and as commercial banks are now performing similar activity has stopped advancing fresh loans since October 2001.

Currently, it is engaged in the activity of recovering dues from its borrowers and paying its lenders. One Time Settlement schemes have been introduced to expedite recovery.

Cost cutting exercise has been implemented to reduce manpower by deputing staff to various government departments and by implementing VRS.

Government has formed a high-powered committee under Chief Secretary to decide on the future of GSFC. Committee has decided to offer VRS to employees, have OTS scheme and restructure the organization.

GSFC provides the following services:

  • Providing financial assistance of up to Rs. 24 million for acquiring fixed assets like land, factory building, Plant & Machinery, including technical know-how fees and pre-operative expenses for setting up new projects.
  • Offering term finance for expansion, diversification, renovation, modernisation, procuring quality control equipment, pollution control equipment and energy -saving devices.
  • Offering financial assistance under different schemes as General Term Loan, Seed Capital and Special Capital.
  • Providing financial assistance at liberal terms to SC/ST entrepreneurs and ex-servicemen.
  • Eligibility of 1% concession on interest rates on loans up to Rs. 24 million ($4.9 million approximately) for reputed clients with good track record (GOLD CARD SCHEME)
  • Loan assistance to small or medium-sized units that are financially sound and functional for at least 4 years, earning profits for the last 3 years.
  • Soft grants to industries existing for at least 5 years, to adopt new/ improved technology and production methods. Also, loans on liberal terms for proposals aimed at better productivity, reduced production costs, pollution control etc.
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