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10 Yrs X-Ray 
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Analyst Note 
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About
Gujarat Natural Resources Ltd (GNRL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513536 NSE: GNRL Oil Exploration | Small Cap | Guj.Natural Resource Share Price
₹95.11 -0.42 (-0.44%)
As on 19-Oct'26 16:59
Gujarat Natural Resources Ltd (GNRL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513536 NSE: GNRL Oil Exploration | Small Cap | Guj.Natural Resource Share Price
₹95.11 -0.42 (-0.44%)
As on 19-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,459 Cr.
Current Price
₹95.1
52-Week Low / High
₹80 / 121
TTM EPS
₹1.3
TTM Sales
₹32.9 Cr.
Book Value per Share
₹14.1
P/E Ratio
75.55
Industry PE
7.6
Price to Book (P/B)
6.77
Higher than its 5-year historical median
Price to Sales (P/S)
44.35
Lower than its 5-year historical median
EV/EBITDA
49.04
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
5.60%
Underperforms industry median
Return on Capital Employed (ROCE)
7.28%
Underperforms industry median
Return on Assets (ROA)
4.74%
Operating Profit Margin
35.8%
Net Profit Margin
32.41%
Gross Profit Margin
65.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
1540%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
615.03%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
1.93%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹63 Cr.
Equity
₹153.4 Cr.
Face Value
₹10
All Time Low / High
₹0.16 / 188.32
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Gujarat Natural Resources Ltd a good quality company?
Gujarat Natural Resources Ltd is a weak quality company, based on a inconsistent 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 Gujarat Natural Resources Ltd performance compare with that of its Peers?
Revenue growth of Gujarat Natural Resources Ltd vs industry peers?
Gujarat Natural Resources Ltd revenue CAGR is 30.39%, compared to the industry median CAGR of 9.12%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Gujarat Natural Resources Ltd?
Promoters hold 1.93% of the Gujarat Natural Resources Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Gujarat Natural Resources Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 10.3% 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.
Gujarat Natural Resources Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not 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 % ⓘ | 0.9% | -0.6% | -0.5% | -25.1% | 0.1% | -0.5% | 0.2% | -2% | 1.2% | 5.5% | - |
| Value Creation Index ⓘ | -0.9 | -1.0 | -1.0 | -2.8 | -1.0 | -1.0 | -1.0 | -1.1 | -0.9 | -0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 0 | 0 | 0 | 3.5 | 1.9 | 0 | 0.3 | 2.2 | 0.7 | 11.5 | 12 |
| Sales YoY Gr. | - | NA | NA | NA | -46.6% | -100% | NA | 578.8% | -68.8% | 1,540% | - |
| Adj EPS ⓘ | 0.1 | -0.1 | -0.1 | -1 | -0.1 | -0.1 | -0 | -0.5 | 0 | 0.6 | 1.2 |
| YoY Gr. | - | -237.5% | NA | NA | NA | NA | NA | NA | NA | 5400% | - |
| BVPS (₹) ⓘ | 16.2 | 15.8 | 15.7 | 12.7 | 12.6 | 11.6 | 11.5 | 11.3 | 12.8 | 14.8 | 15.5 |
| Adj Net Profit ⓘ | 0.4 | -0.5 | -0.5 | -7.5 | -0.8 | -0.8 | -0.4 | -5.1 | 0.2 | 8.4 | 19 |
| Cash Flow from Ops. ⓘ | -1.1 | 3.8 | -13.1 | -49.8 | -12.2 | -14.1 | 0.4 | -0.8 | -45.9 | -30 | - |
| Debt/CF from Ops. ⓘ | -1.9 | 5.2 | -0.9 | -0 | -1.2 | -0.4 | 41.7 | -37.6 | -0.2 | -0.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 43.8% | 226.4% | 1540% | ||||
| Adj EPS ⓘ | 23.9% | NA | NA | 5400% | ||||
| BVPSⓘ | -1% | 3.3% | 8.7% | 15.6% | ||||
| Share Price | 10.9% | 56.8% | 110.9% | 15.7% | ||||
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 % ⓘ | 0.5 | -0.7 | -0.6 | -7.8 | -0.8 | -0.7 | -0.3 | -4.2 | 0.1 | 4.2 | 8 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 0 | -0.4 | -24 | 0 | -52.5 | -127.2 | -66.3 | 52.8 | 129.8 |
| Net Profit Mgn % ⓘ | 0 | 0 | 0 | -213.9 | -44.5 | 0 | -128.3 | -228.9 | 26.1 | 73.4 | 159.2 |
| Debt to Equity ⓘ | 0 | 0.3 | 0.2 | 0 | 0.2 | 0 | 0.2 | 0.3 | 0.1 | 0 | - |
| Working Cap Days ⓘ | 0 | 0 | 0 | 8,709 | 19,914 | 0 | 1,37,412 | 21,461 | 77,543 | 6,123 | 1,984 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | -433 | -1,396 | 0 | -6,094 | -1,988 | 138 | 195 | 1,833 |
Valuation of Guj.Natural Resource - 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 | 8 | 7 | 8 | 11 | 8 | 9 | 13 | 27 | 20 | 31 |
| Operating Expenses ⓘ + | 6 | 6 | 5 | 9 | 8 | 10 | 12 | 22 | 19 | 20 |
| Operating Profit ⓘ | 2 | 1 | 3 | 2 | 0 | -1 | 1 | 6 | 2 | 11 |
| Operating Profit Margin (%) | 28.7% | 17.5% | 32.1% | 15.5% | 1.8% | -9.4% | 7.4% | 20.2% | 7.7% | 35.8% |
| Other Income ⓘ + | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 3 | 9 |
| Interest ⓘ | 1 | 1 | 1 | 0 | 1 | 1 | 3 | 3 | 4 | 1 |
| Depreciation ⓘ | 2 | 4 | 5 | 4 | 4 | 3 | 3 | 8 | 5 | 6 |
| Profit Before Tax ⓘ | 1 | 0 | -3 | -28 | -4 | -4 | -6 | -4 | -4 | 13 |
| Tax ⓘ | 0 | 0 | -0 | -0 | 0 | -0 | 0 | -0 | -1 | 4 |
| Profit After Tax | 0 | 0 | -2 | -27 | -4 | -4 | -6 | -4 | -4 | 10 |
| PAT Margin (%) | 5.0% | 2.1% | -29.4% | -256.0% | -51.8% | -46.2% | -46.6% | -14.2% | -18.8% | 32.4% |
| Adjusted EPS (₹) | 0.1 | 0.0 | -0.5 | -3.8 | -0.6 | -0.4 | -0.6 | -0.4 | -0.3 | 0.6 |
| Dividend Payout Ratio (%) | 92% | 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 + | 86 | 86 | 83 | 94 | 90 | 114 | 109 | 106 | 150 | 205 | |
| Debt + | 19 | 43 | 23 | 17 | 24 | 20 | 36 | 41 | 12 | 13 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 12 | 10 | 10 | 10 | 10 | 11 | 8 | 3 | 4 | 13 | |
| Others Liabilities ⓘ | 27 | 16 | 28 | 18 | 25 | 11 | 9 | 10 | 8 | 13 | |
| Total Liabilities ⓘ | 144 | 155 | 144 | 139 | 149 | 156 | 163 | 160 | 173 | 244 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 50 | 45 | 42 | 42 | 41 | 38 | 46 | 56 | 51 | 57 | |
| CWIP ⓘ | 43 | 42 | 42 | 38 | 38 | 39 | 39 | 21 | 22 | 49 | |
| Investments ⓘ | 15 | 19 | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 18 | 11 | |
| Trade Receivables | 10 | 10 | 10 | 4 | 3 | 6 | 2 | 3 | 2 | 4 | |
| Cash Equivalents | 2 | 3 | 2 | 6 | 6 | 5 | 6 | 5 | 7 | 2 | |
| Others Assets ⓘ | 22 | 34 | 26 | 47 | 58 | 64 | 66 | 71 | 73 | 121 | |
| Total Assets ⓘ | 144 | 155 | 144 | 139 | 149 | 156 | 163 | 160 | 173 | 244 | |
| 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 ⓘ + | 2 | 7 | 3 | -49 | 1 | -18 | 9 | -2 | -30 | 48 |
| Cash Flow From Investing Activity ⓘ + | -10 | -3 | -1 | 18 | -1 | -1 | -11 | 1 | -2 | -59 |
| Cash Flow From Financing Activity ⓘ + | 7 | -3 | -2 | 34 | 1 | 17 | 4 | 1 | 34 | 6 |
| Net Cash Flow ⓘ | -0 | 1 | -1 | 3 | 1 | -1 | 1 | -1 | 1 | -5 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.5 | 0.19 | -2.87 | -32.27 | -4.74 | -4.15 | -5.7 | -3.67 | -2.95 | 5.6 |
| ROCE (%) | 1.41 | 0.82 | -1.58 | -23.93 | -2.45 | -2.74 | -2.25 | -1.13 | -0.56 | 7.28 |
| Asset Turnover Ratio | 0.06 | 0.05 | 0.05 | 0.08 | 0.06 | 0.06 | 0.08 | 0.17 | 0.12 | 0.15 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.8 |
| Working Capital Days | ||||||||||
| Receivable Days | 421.70 | 477.90 | 441.70 | 225.30 | 145.60 | 192.30 | 113.50 | 29.50 | 41.80 | 34.40 |
| Inventory Days | 128.50 | 140.10 | 131.80 | 101.60 | 141.90 | 132.10 | 98.10 | 50.90 | 200.70 | 175.60 |
| Payable Days | 0 | 0 | 0 | 1,240.80 | 2,323.10 | 0 | 0 | 0 | 0 | 650.10 |
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Gujarat Natural Resources Ltd FAQs
The current trading price of Guj.Natural Resource on 19-Oct-2026 16:59 is ₹95.11.
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 18-Oct-2026 the market cap of Guj.Natural Resource stood at ₹1,459 Cr
The latest P/E ratio of Guj.Natural Resource as of 18-Oct-2026 is 78.59.
The latest P/B ratio of Guj.Natural Resource as of 18-Oct-2026 is 6.15.
The 52-week high of Guj.Natural Resource is ₹121.0 and the 52-week low is ₹80.01.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Guj.Natural Resource is ₹11.66 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gujarat Natural Resources Ltd is a below average quality company.
The key valuation ratios of Gujarat Natural Resources 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 Gujarat Natural Resources Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Gujarat Natural Resources Ltd
Gujarat Natural Resources, earlier known as Lesha Energy Resources was incorporated on August 23, 1991 as Lesha Steels under the Companies Act, 1956 in the state of Gujarat. The company set up a unit to manufacture different grades of low carbon alloy steels. The company has obtained the certificate of commencement of business on June 24, 1992 from the office of the Registrar of Companies, Gujarat. The company is promoted by A C Shah, a technocrat and entrepreneur who has a rich experience in industry, business & finance and Dipak C Shah, a businessman engaged in trading and consultancy business.
In 2010 the Company changed the name from "Lesha Energy Resources Ltd" to "Gujarat Natural Resources Ltd".
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