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10 Yrs X-Ray 
Valuation 
Analyst Note 
Qtr. Results 
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About
Gokul Refoils and Solvent Ltd (GOKUL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532980 NSE: GOKUL Edible Oil | Small Cap | Gokul Refoils & Solv Share Price
₹39.31 0.59 (1.52%)
As on 16-Oct'26 16:59
Gokul Refoils and Solvent Ltd (GOKUL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532980 NSE: GOKUL Edible Oil | Small Cap | Gokul Refoils & Solv Share Price
₹39.31 0.59 (1.52%)
As on 16-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹389 Cr.
Current Price
₹39.3
52-Week Low / High
₹31 / 47
TTM EPS
₹2.1
TTM Sales
₹4,211 Cr.
Book Value per Share
₹37.3
P/E Ratio
18.80
Lower than its 5-year historical median
Industry PE
34.4
Price to Book (P/B)
1.05
Lower than its 5-year historical median
Price to Sales (P/S)
0.09
Lower than its 5-year historical median
EV/EBITDA
9.21
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
5.22%
Underperforms industry median
Return on Capital Employed (ROCE)
8.45%
Underperforms industry median
Return on Assets (ROA)
2.19%
Operating Profit Margin
0.9%
Net Profit Margin
0.45%
Gross Profit Margin
0.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
6962.44%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-0.19%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
24.78%
Asset Quality
Promoter Holding
74.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹350 Cr.
Equity
₹19.8 Cr.
Face Value
₹2
All Time Low / High
₹7.25 / 111.60
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Gokul Refoils and Solvent Ltd a good quality company?
Gokul Refoils and Solvent Ltd is a average quality company, based on a somewhat consistent 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 Gokul Refoils and Solvent Ltd performance compare with that of its Peers?
Revenue growth of Gokul Refoils and Solvent Ltd vs industry peers?
Gokul Refoils and Solvent Ltd revenue CAGR is 10.83%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Gokul Refoils and Solvent Ltd?
Promoters hold 74.00% of the Gokul Refoils and Solvent Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Gokul Refoils and Solvent Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 10.7% 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.
Gokul Refoils and Solvent Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -0.3% | 0.1% | 1.9% | 5.2% | 1.5% | 0.8% | 1.2% | -5% | 2% | 2.2% | - |
| Value Creation Index ⓘ | -1.0 | -1.0 | -0.9 | -0.6 | -0.9 | -0.9 | -0.9 | -1.4 | -0.9 | -0.9 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 232 | 186 | 8 | 17.6 | 10 | 11.4 | 7.4 | 83.7 | 10.6 | 747 | 604 |
| Sales YoY Gr. | - | -19.6% | -95.7% | 119.1% | -42.9% | 13.9% | -34.9% | 1,026.7% | -87.4% | 6,962.4% | - |
| Adj EPS ⓘ | 0.3 | 1.9 | 0.2 | 0.5 | 0.2 | 0 | 0.1 | 0.4 | 0.3 | 0.2 | 0.4 |
| YoY Gr. | - | 626.9% | -90% | 179% | -60.4% | -85.7% | 266.7% | 290.9% | -30.2% | -33.3% | - |
| BVPS (₹) ⓘ | 20.1 | 18.8 | 19 | 19.5 | 21.5 | 21.6 | 21.8 | 21 | 21.4 | 21.7 | 21.8 |
| Adj Net Profit ⓘ | 3.5 | 24.9 | 2.5 | 6.9 | 2.1 | 0.3 | 1.1 | 4.2 | 3 | 2 | 4 |
| Cash Flow from Ops. ⓘ | 23.5 | 45.9 | -1 | 10.3 | 25.3 | 6 | -2.3 | -23.8 | 1 | -3.7 | - |
| Debt/CF from Ops. ⓘ | 13.8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 13.9% | 136.8% | 364.9% | 6962.4% | ||||
| Adj EPS ⓘ | -2.9% | -1% | 22.1% | -33.3% | ||||
| BVPSⓘ | 0.8% | 0.2% | -0.2% | 1.5% | ||||
| Share Price | 11.1% | 7.1% | -1.6% | -3.2% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.3 | 9.7 | 1 | 2.7 | 0.9 | 0.2 | 0.5 | 2 | 1.4 | 0.9 | 1.9 |
| Op. Profit Mgn % ⓘ | -1 | -4.8 | -81.6 | 11.6 | -19.3 | -31.2 | -45.6 | 3.4 | -35.7 | -0.2 | -0.1 |
| Net Profit Mgn % ⓘ | 1.5 | 13.4 | 31.4 | 39.5 | 21 | 3 | 14.8 | 5.1 | 28.2 | 0.3 | 0.7 |
| Debt to Equity ⓘ | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 445 | 429 | 6,477 | 2,724 | 4,162 | 3,126 | 4,679 | 399 | 2,966 | 39 | 39 |
| Cash Conv. Cycle ⓘ | -33 | 94 | -105 | 26 | 124 | 11 | 8 | -0 | -3 | -0 | 37 |
Valuation of Gokul Refoils & Solv - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,856 | 1,987 | 2,198 | 2,161 | 2,465 | 3,053 | 3,137 | 3,020 | 3,511 | 4,120 |
| Operating Expenses ⓘ + | 1,826 | 1,971 | 2,164 | 2,123 | 2,425 | 3,014 | 3,081 | 2,974 | 3,474 | 4,084 |
| Operating Profit ⓘ | 30 | 17 | 33 | 38 | 40 | 39 | 56 | 46 | 36 | 36 |
| Operating Profit Margin (%) | 1.6% | 0.8% | 1.5% | 1.7% | 1.6% | 1.3% | 1.8% | 1.5% | 1.0% | 0.9% |
| Other Income ⓘ + | 11 | 58 | 23 | 23 | 12 | 21 | 10 | 19 | 28 | 32 |
| Interest ⓘ | 32 | 33 | 32 | 29 | 20 | 18 | 27 | 33 | 33 | 33 |
| Depreciation ⓘ | 4 | 5 | 5 | 6 | 5 | 6 | 8 | 10 | 12 | 11 |
| Profit Before Tax ⓘ | 5 | 13 | 19 | 27 | 27 | 37 | 31 | 3 | 20 | 25 |
| Tax ⓘ | 3 | 4 | 7 | 7 | 6 | 10 | 7 | 1 | 5 | 6 |
| Profit After Tax | 2 | 9 | 12 | 20 | 20 | 27 | 24 | 2 | 15 | 18 |
| PAT Margin (%) | 0.1% | 0.5% | 0.6% | 0.9% | 0.8% | 0.9% | 0.8% | 0.1% | 0.4% | 0.5% |
| Adjusted EPS (₹) | 0.2 | 0.7 | 0.9 | 1.5 | 2.1 | 2.7 | 2.4 | 0.2 | 1.5 | 1.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 280 | 273 | 285 | 305 | 277 | 304 | 328 | 330 | 345 | 363 | |
| Debt + | 695 | 309 | 263 | 232 | 283 | 367 | 419 | 275 | 273 | 383 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 46 | 35 | 26 | 21 | 91 | 146 | 64 | 115 | 125 | 141 | |
| Others Liabilities ⓘ | 45 | 40 | 34 | 42 | 59 | 31 | 33 | 21 | 29 | 29 | |
| Total Liabilities ⓘ | 1,066 | 656 | 609 | 599 | 710 | 848 | 844 | 742 | 771 | 916 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 231 | 69 | 68 | 73 | 68 | 70 | 96 | 95 | 100 | 98 | |
| CWIP ⓘ | 3 | 5 | 3 | 2 | 2 | 2 | 2 | 7 | 0 | 0 | |
| Investments ⓘ | 68 | 36 | 42 | 39 | 24 | 33 | 74 | 60 | 43 | 106 | |
| Inventories | 294 | 195 | 141 | 162 | 280 | 338 | 246 | 211 | 220 | 187 | |
| Trade Receivables | 177 | 88 | 105 | 87 | 107 | 167 | 138 | 130 | 160 | 210 | |
| Cash Equivalents | 136 | 75 | 58 | 68 | 66 | 58 | 116 | 73 | 58 | 109 | |
| Others Assets ⓘ | 157 | 189 | 192 | 169 | 162 | 179 | 172 | 166 | 190 | 204 | |
| Total Assets ⓘ | 1,066 | 656 | 609 | 599 | 710 | 848 | 844 | 742 | 771 | 916 | |
| 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 ⓘ + | 41 | 111 | 72 | 65 | 6 | -72 | 92 | 56 | 17 | 34 |
| Cash Flow From Investing Activity ⓘ + | -28 | 280 | -0 | 8 | 9 | -7 | -22 | 17 | -5 | -3 |
| Cash Flow From Financing Activity ⓘ + | -28 | -417 | -78 | -62 | -16 | 66 | 27 | -123 | -35 | 73 |
| Net Cash Flow ⓘ | -15 | -27 | -6 | 11 | -0 | -13 | 97 | -51 | -23 | 103 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.87 | 3.27 | 4.35 | 6.7 | 7.03 | 9.13 | 7.64 | 0.55 | 4.39 | 5.22 |
| ROCE (%) | 5.42 | 5.87 | 9.04 | 10.17 | 8.56 | 8.88 | 8.23 | 5.3 | 8.66 | 8.45 |
| Asset Turnover Ratio | 1.75 | 2.31 | 3.48 | 3.58 | 3.77 | 3.92 | 3.71 | 3.81 | 4.65 | 4.89 |
| PAT to CFO Conversion(x) | 20.5 | 12.33 | 6 | 3.25 | 0.3 | -2.67 | 3.83 | 28 | 1.13 | 1.89 |
| Working Capital Days | ||||||||||
| Receivable Days | 39.30 | 24.30 | 16 | 16.20 | 14.40 | 16.40 | 17.80 | 16.20 | 15 | 16.30 |
| Inventory Days | 55.60 | 45 | 27.90 | 25.50 | 32.70 | 36.90 | 34 | 27.60 | 22.40 | 18 |
| Payable Days | 68.80 | 7.90 | 5.30 | 4.20 | 8.80 | 14.80 | 12.90 | 11.40 | 13 | 12.20 |
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Gokul Refoils and Solvent Ltd FAQs
The current trading price of Gokul Refoils & Solv on 16-Oct-2026 16:59 is ₹39.31.
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 15-Oct-2026 the market cap of Gokul Refoils & Solv stood at ₹389.1 Cr
The latest P/E ratio of Gokul Refoils & Solv as of 15-Oct-2026 is 96.30.
The latest P/B ratio of Gokul Refoils & Solv as of 15-Oct-2026 is 1.80.
The 52-week high of Gokul Refoils & Solv is ₹47.40 and the 52-week low is ₹31.07.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gokul Refoils & Solv is ₹604 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Gokul Refoils and Solvent Ltd is a average quality company.
The key valuation ratios of Gokul Refoils and Solvent Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Gokul Refoils and Solvent Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Gokul Refoils and Solvent Ltd
Gokul Refoils and Solvent was incorporated on December 29, 1992 as Gokul Refoils and Solvent Private Limited under the Companies Act, 1956. Subsequently it was converted into a public limited Company vide special resolution passed at the Extra Ordinary General Meeting of the Company held on May 2, 1994, pursuant to which, it received a fresh certificate of incorporation dated July 1, 1994 by the Registrar of Companies, Gujarat.
Gokul Refoils and Solvent is engaged in the business of trading in oil seeds and edible/nonedible oils and agro commodities and supply of services. The company, through its subsidiaries and associate, manufactures a diverse range of edible oils, including groundnut oil, mustard oil, Kachi Ghani mustard oil, refined cottonseed oil, refined soybean oil, palm oil, and refined sunflower oil. These oils cater to domestic and international markets, meeting varied consumer preferences for cooking and food processing. The company is also a leading producer of castor oil and its derivatives, which are utilized in industries such as soaps, lubricants, hydraulic and brake fluids, paints, dyes, coatings, inks, cold-resistant plastics, waxes, polishes, nylon, pharmaceuticals, and perfumes. The byproduct, castor meal, serves as an organic fertilizer, supporting sustainable agriculture.
Business area of the company
Gokul Refoils and Solvent is engaged in the business of trading in oil seeds and edible/nonedible oils and agro commodities and supply of services.
Products of the company
- Edible/non-edible oils
- Castor oil and derivatives
History and milestones
- 1992: Incorporated as a private limited company on December 29, 1992.
- 1992: Setup a small processing plant at Sidhpur.
- 1994: Converted into a public limited company w.e.f. from May 2, 1994.
- 1999: Increased inproduction capacity be setting up 200 TPD seed processing and solvent plant and 200 TPD refinery.
- 2000: Achieved a turnover of around Rs 100 crore.
- 2002: Obtained ISO 9001:2000 certification for Sidhpur plant.
- 2003: The company setups a wholly owned subsidiary in Mauritius.
- 2003: Setup a refinery of 800 MT and Vanaspati plant of 100 MT at Gandhidham.
- 2004: Achieved a turnover of around Rs 500 crore.
- 2004: Inauguration of its Corporate House at Ahmedabad.
- 2005: Achieved a turnover of around Rs 1000 crore.
- 2005: Kanubhai Thakkar, Managing Director, receives ‘Oil Man of the year’ award by ‘Globoil India’.
- 2005: The company received an award from the Malaysian Palm Oil Promotion Council.
- 2005: Initiated an aggressive brand building exercise, film actress Sridevi endorsed its products, as its Brand Ambassador.
- 2006: Setup four wind mills of 1.25 MW each and co-generation power plant of 500 KWH in Kutch to strengthen its in-house capabilities and enhance operational efficiency.
- 2006: Increased focus on export business.
- 2006: Obtained ISO 9001:2000 certification for its Gandhidham plant.
- 2006: Modernization and expansion plan of its Sidhpur plant by increasing production capacity.
- 2007: Achieved a turnover of around Rs 1500 crore.
- 2007: Purchased an operational 100 TPD refinery in Surat.
- 2007: The company setups a wholly owned subsidiary in Singapore.
- 2007: Expansion of Surat plant from 100 TPD to 400 TPD.
- 2007: Initiated the setup of its 1500 TPD Soyabean processing plant near Gandhidham.
- 2007: Entered into a MoU with GMDC for a 110/125 MW Captive Power Plant.
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