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Gratex Industries Ltd (526751)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526751 NSE: Paper & Paper Products | Small Cap | Gratex Industries Share Price

₹24.60 0.00 (0.00%)

As on 04-Aug'26 16:59

Gratex Industries Ltd (526751)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526751 NSE: Paper & Paper Products | Small Cap | Gratex Industries Share Price

₹24.60 0.00 (0.00%)

As on 04-Aug'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹7 Cr.
Current Price
₹24.6
52-Week Low / High
₹16 / 28
TTM EPS
₹0.4
TTM Sales
₹4.6 Cr.
Book Value per Share
₹12.5
P/E Ratio
56.99
Lower than its 5-year historical median
Industry PE
15.6
Price to Book (P/B)
1.97
Higher than its 5-year historical median
Price to Sales (P/S)
1.62
Higher than its 5-year historical median
EV/EBITDA
21.98
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.98%
Underperforms industry median
Return on Capital Employed (ROCE)
4.61%
Underperforms industry median
Return on Assets (ROA)
2.50%
Operating Profit Margin
7.2%
Net Profit Margin
2.58%
Gross Profit Margin
7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
13.87%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
14.81%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
57.14%
Asset Quality
Promoter Holding
61.91%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1 Cr.
Equity
₹3 Cr.
Face Value
₹10
All Time Low / High
₹0.50 / 43.95

Gratex Industries stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Gratex Industries Ltd a good quality company?
Gratex Industries Ltd is a quality company, based on a 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 Gratex Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gratex Industries Ltd vs industry peers?
Gratex Industries Ltd revenue CAGR is 17.96%, compared to the industry median CAGR of 7.38%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Gratex Industries Ltd?
Promoters hold 61.91% of the Gratex Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Gratex Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.3% 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 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.
Gratex Industries 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 7.3%10%3.4%7.7%1.7%4.8%7%3.8%3.2%4.6%-
Value Creation
Index
-0.5-0.3-0.8-0.5-0.9-0.7-0.5-0.7-0.8-0.7-

Growth Parameters

Sales 1.223.43.51.934.343.84.35
Sales YoY Gr.-64.5%68.3%3.6%-46.1%61.5%41.1%-6.3%-6%13.9%-
Adj EPS 0.60.70.30.50.10.30.60.40.30.40.4
YoY Gr.-12.7%-64.8%112%-84.9%312.5%87.9%-41.9%-16.7%20%-
BVPS (₹) 8.99.69.610.210.310.611.211.61212.412.5
Adj Net
Profit
0.20.20.10.200.10.20.10.10.10
Cash Flow from Ops. 00.10.50.100.20.30.10.20.1-
Debt/CF from Ops. 3.76.30.31.120.80.21.30.32.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15%18%0.1%13.9%
Adj EPS -6%35.1%-16.6%20%
BVPS3.7%3.8%3.2%3%
Share Price 8.3% 17.7% 7.5% 38.5%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
7.47.62.65.40.73.15.73.22.633.5
Op. Profit
Mgn %
23.919.78.110.87.19.18.57.287.37.5
Net Profit
Mgn %
15.810.82.24.71.23.34.42.82.42.62.8
Debt to
Equity
00.20.10000000.1-
Working Cap
Days
569413258248485319248282301284119
Cash Conv.
Cycle
53538422922140524418221123321094

Valuation of Gratex Industries - 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
mw4me loader

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

data not found
No data found!

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1.211.993.353.471.873.024.263.993.754.27
Operating Expenses + 0.921.603.073.091.742.753.903.733.483.96
Manufacturing Costs0.050.110.180.250.190.160.240.180.220.37
Material Costs0.090.541.311.180.481.041.821.541.431.89
Employee Cost 0.330.410.850.870.580.891.071.180.930.79
Other Costs 0.450.550.730.780.500.660.770.840.910.92
Operating Profit 0.290.390.270.370.130.280.360.270.270.31
Operating Profit Margin (%) 23.9%19.6%8.1%10.7%7.1%9.1%8.5%6.7%7.2%7.2%
Other Income + 0.010.02000.0300000
Exceptional Items 0-000000000
Interest 0.010.010.040.020.020.020.010.010.010.01
Depreciation 0.100.100.160.130.110.120.130.130.160.14
Profit Before Tax 0.190.300.070.220.040.140.230.120.110.16
Tax -00.07-00.060.010.040.040.030.040.05
Profit After Tax 0.190.220.070.160.020.100.190.090.070.11
PAT Margin (%) 15.8%11.2%2.2%4.7%1.2%3.3%4.4%2.4%1.9%2.6%
Adjusted EPS (₹)0.60.70.30.50.10.30.60.30.20.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 2.702.922.933.093.123.223.413.503.643.75
Share Capital 3.033.033.033.033.033.033.033.033.033.03
Reserves -0.34-0.11-0.110.050.090.190.380.470.610.72
Debt +0.060.460.150.110.090.120.060.060.020.10
Long Term Debt000.110.090.060.0600.050.020.10
Short Term Debt0.060.460.040.020.030.060.05000
Minority Interest0000000000
Trade Payables00.140.140.130.120.260.360.300.190.48
Others Liabilities 0.090.170.200.210.150.210.270.320.240.37
Total Liabilities 2.853.693.423.543.483.804.104.184.094.70

Fixed Assets

Net Fixed Assets +0.831.241.181.080.981.011.081.031.041.09
Gross Block1.451.952.052.092.102.252.442.522.722.90
Accumulated Depreciation0.610.710.871.011.121.241.361.491.681.81
CWIP 0000000000
Investments 0000000000
Inventories0.410.790.590.831.131.591.732.022.282.18
Trade Receivables1.551.591.591.520.950.790.900.740.361.04
Cash Equivalents -0-0.03-0.01-0.0100.010.010.010.010.01
Others Assets 0.060.110.070.120.420.410.380.400.410.38
Total Assets 2.853.693.423.543.483.804.104.184.094.70
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 0.020.070.480.100.040.150.260.060.210.08
PBT 0.190.300.070.220.040.140.230.120.110.16
Adjustment 0.100.100.200.150.140.150.150.120.230.14
Changes in Working Capital -0.27-0.250.25-0.25-0.06-0.09-0.07-0.17-0.09-0.19
Tax Paid 0-0.07-0.05-0.02-0.07-0.05-0.05-0.01-0.04-0.04
Cash Flow From Investing Activity + -0.06-0.50-0.10-0.04-0-0.15-0.19-0.08-0.17-0.18
Capex -0.06-0.50-0.10-0.04-0.01-0.15-0.19-0.08-0.17-0.18
Net Investments 0000000000
Others 000000-0-000
Cash Flow From Financing Activity + 0.020.40-0.35-0.06-0.030.01-0.070.02-0.040.10
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0.020.400.11-0.02-0.040-0.050.05-0.030.07
Interest Paid 00-0.04-0.020.02-0.02-0.01-0.01-0.01-0.01
Dividend Paid 0000000000
Others 00-0.42-0.02-0.010.03-0-0.0200.04
Net Cash Flow -0.02-0.030.0200.010-00-00
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)7.367.962.565.360.743.125.662.7222.98
ROCE (%)7.3310.023.47.731.694.836.993.83.234.61
Asset Turnover Ratio0.440.610.9410.530.831.080.960.910.97
PAT to CFO Conversion(x)0.110.326.860.6321.51.370.6730.73
Working Capital Days
Receivable Days400.70288.40173.50163.90241.40105.1072.3074.8053.3059.70
Inventory Days136.80109.807574.50190.50163.80142.40171.40209190.70
Payable Days21.6047.1038.4041.5095.9066.406278.4062.4065.10

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Announcements

Gratex Industries Ltd FAQs

The current trading price of Gratex Industries on 04-Aug-2026 16:59 is ₹24.60.

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 03-Aug-2026 the market cap of Gratex Industries stood at ₹7.47 Cr

The latest P/E ratio of Gratex Industries as of 03-Aug-2026 is 56.99.

The latest P/B ratio of Gratex Industries as of 03-Aug-2026 is 1.97.

The 52-week high of Gratex Industries is ₹28.06 and the 52-week low is ₹16.18.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gratex Industries is ₹4.61 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gratex Industries Ltd is a below average quality company.

The key valuation ratios of Gratex Industries 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 Weak which suggest that the price of Gratex Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Gratex Industries Ltd

Gratex Industries was incorporated in the state of Maharashtra on Feb 23, 1984 as a private limited company under the name of Gratex Decorative Industries. The company was converted into a public limited company by passing a special resolution on Oct 7, 1992 and obtained certificate of change of name on November 5th 1992. The name was changed from Gratex Decorative Industries to Gratex Industries on 9th day of March 1993 under the companies act. The main objects of the company are fully set out in the memorandum and articles of association of the company and are also detailed in the prospectus.

The facilities of the company are located at Gratex house, Thane Belapur road, Khairne, New Bombay in the state of Maharashtra.

Against company's installed capacity of 84 000 vinyl rolls and1 80 000 non-vinyl rolls p.a. it had manufactured 72000 vinyl rolls and 36 000 non-vinyl during the year 93-94. For lack of demand, the company has discontinued manufacture of non- vinyl rolls as such there is ideal capacity available which can also be utilized for production of vinyl rolls.

The company intends to expand its vinyl capacity to 2 10 000 rolls per annum. The expansion unit will be located at the existing premises situated at Gratex house, Thane Belapur road, Khairne, New Bombay. The cost of the expansion project has been estimated at Rs 225 lakh. The proposed expansion will increase the installed capacity from 84000 rolls p.a. to 2,10,00 rolls p.a. for vinyl and no change in the non-vinyl capacity.

Product

The company is manufacturer of vinyl rolls (decorative and printing paper).

 

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