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Gokaldas Exports Ltd (GOKEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532630 NSE: GOKEX Textile | Small Cap | Gokaldas Exports Share Price

₹695.50 1.35 (0.19%)

As on 22-Sep'26 16:59

Gokaldas Exports Ltd (GOKEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532630 NSE: GOKEX Textile | Small Cap | Gokaldas Exports Share Price

₹695.50 1.35 (0.19%)

As on 22-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹5,096 Cr.
Current Price
₹695.5
52-Week Low / High
₹532 / 954
TTM EPS
₹14.1
TTM Sales
₹4,185 Cr.
Book Value per Share
₹294
P/E Ratio
49.50
Higher than its 5-year historical median
Industry PE
35.8
Price to Book (P/B)
2.37
Lower than its 5-year historical median
Price to Sales (P/S)
1.22
Lower than its 5-year historical median
EV/EBITDA
13.07
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
4.85%
In line with industry median
Return on Capital Employed (ROCE)
9.10%
Outperforms industry median
Return on Assets (ROA)
2.57%
Operating Profit Margin
8.6%
Net Profit Margin
2.51%
Gross Profit Margin
8.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
8.74%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.63%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-36.84%
Asset Quality
Promoter Holding
9.15%
Pledged shares (%) of Promoter's holding (%)
96.28%
Reserves
₹2,118 Cr.
Equity
₹36.6 Cr.
Face Value
₹5
All Time Low / High
₹22.75 / 1260.00

Gokaldas Exports stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Overvalued

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Gokaldas Exports Ltd a good quality company?
Gokaldas Exports 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.

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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 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.

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How does Gokaldas Exports Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gokaldas Exports Ltd vs industry peers?
Gokaldas Exports Ltd revenue CAGR is 26.92%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Gokaldas Exports Ltd?
Promoters hold 9.15% of the Gokaldas Exports Ltd, with 96.28% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Gokaldas Exports Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.3% 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.
Gokaldas Exports 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ-1.6%1.2%9.5%11.1%9.5%21.9%27.8%18.3%14.2%12.3%-
Value Creation
Index ⓘ		-1.1-0.9-0.3-0.2-0.30.61.00.40.1-0.1-

Growth Parameters ⓘ
Sales ⓘ9151,0311,1731,3681,2091,7892,2212,1392,4772,6932,806
Sales YoY Gr.-12.7%13.8%16.6%-11.6%47.9%24.2%-3.7%15.8%8.7%-
Adj EPS ⓘ-16.2-13.99.52.16.317.22825.825.826.630.7
YoY Gr.-NANA-77.7%197.2%174.6%62.4%-7.8%-0.1%3.2%-
BVPS (₹) ⓘ4736.554.850.864.3118.2143.5204.3291.2315.5324.8
Adj Net
Profit ⓘ		-56.6-48.740.69.126.9102169163184195225
Cash Flow from Ops. ⓘ11.725.251.397.911812136813077.639.4-
Debt/CF from Ops. ⓘ40.618.87.443.10.50.11.21.57.6-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ12.8%17.4%6.6%8.7%
Adj EPS ⓘNA33.5%-1.7%3.2%
BVPSⓘ23.6%37.5%30.1%8.4%
Share Price 23.4% 29% -3.7% -15.3%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		-29.9-33223.910.320.321.114.610.68.69.6
Op. Profit
Mgn % ⓘ		-3.4-2.36.65.48.510.211.811.99.61010.3
Net Profit
Mgn % ⓘ		-6.2-4.73.50.72.25.77.67.67.47.28
Debt to
Equity ⓘ		2.93.71.61.81.30.100.10.10.1-
Working Cap
Days ⓘ		20022720718421014711614918322898
Cash Conv.
Cycle ⓘ		96107948598765964688247

Valuation of Gokaldas Exports - Consolidated

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!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.0022.3796.280.0096.2896.2896.2896.28
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales9301,0311,1751,3711,2111,7902,2222,3793,8643,988
Operating Expenses ⓘ + 9621,0551,1131,2981,1091,6061,9582,1263,5053,652
Manufacturing Costs67776459558984101163201
Material Costs4825365236926058881,1771,1351,9301,925
Employee Cost 3083393954673725396197781,2271,329
Other Costs ⓘ 10510213179789077113185198
Operating Profit ⓘ -32-236273101184264253359336
Operating Profit Margin (%) -3.4%-2.3%5.3%5.3%8.4%10.3%11.9%10.6%9.3%8.4%
Other Income ⓘ + 42472229123232326598
Exceptional Items ⓘ 00-620006000
Interest ⓘ 36373337344026367795
Depreciation ⓘ 1816195553597289128167
Profit Before Tax ⓘ -45-30253027117204159218172
Tax ⓘ 21-100-031286071
Profit After Tax -47-31263026117173131159100
PAT Margin (%) -5.1%-3.0%2.2%2.2%2.2%6.5%7.8%5.5%4.1%2.5%
Adjusted EPS (₹)-13.5-8.96.07.16.219.928.620.722.213.7
Dividend Payout Ratio (%)0%0%0%0%0%0%3.50%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1681282362152746958621,2442,0172,110
Share Capital ⓘ 17172121212930323637
Reserves ⓘ 1501112141942536668321,2131,9812,074
Debt +4744723813913395819602596932
Long Term Debt000019210281307374
Short Term Debt474472381391320569321289558
Minority Interest0000000000
Trade Payables8598861148611884184238349
Others Liabilities ⓘ 7482107203284328346669649889
Total Liabilities ⓘ 8017818099249831,1991,3112,7003,5004,280

Fixed Assets

Net Fixed Assets ⓘ +97961071722372882801,1361,3991,539
Gross Block1161301592783884795201,5201,9052,216
Accumulated Depreciation183552106151191240384507677
CWIP ⓘ 101101110812817117
Investments ⓘ 0003637154344159497590
Inventories192178263289259434293604682875
Trade Receivables21421616214418092136353429601
Cash Equivalents 46171112151324127166136
Others Assets ⓘ 251274265270255208127194310423
Total Assets ⓘ 8017818099249831,1991,3112,7003,5004,280
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 12255199119117369-1775752
PBT ⓘ -45-30253027117198159218172
Adjustment ⓘ 47445162888998107191209
Changes in Working Capital ⓘ 1113-2951-75111-401-306-272
Tax Paid ⓘ -1-1403-13-38-41-46-57
Cash Flow From Investing Activity ⓘ + 26-140-39-32-52-291-537-421-286
Capex -12-12-22-8-34-78-126-688-188-222
Net Investments 25-1010-40-817-168147-238-68
Others ⓘ 12912101093354
Cash Flow From Financing Activity ⓘ + -54-40-57-45-86-43-75753473203
Net Proceeds from Shares ⓘ 006800293424859754
Net Proceeds from Borrowing ⓘ -30000000000
Interest Paid ⓘ -36-38-35-29-29-25-10-22-60-66
Dividend Paid ⓘ 0000000-600
Others ⓘ 12-2-91-16-58-310-70534-64215
Net Cash Flow ⓘ -17-28-615022239110-32
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)-24.62-20.9414.0613.4810.8324.1722.2212.439.724.85
ROCE (%)-1.441.189.4710.859.622.0627.213.7912.759.1
Asset Turnover Ratio1.231.31.481.581.271.641.771.191.271.05
PAT to CFO Conversion(x)N/AN/A1.963.34.5812.13-1.350.360.52
Working Capital Days
Receivable Days58.3076.1058.7040.6048.7027.7018.7037.5036.1046.20
Inventory Days76.2065.4068.5073.5082.7070.6059.7068.8059.4069.80
Payable Days72.5062.2064.1052.8060.4041.9031.3043.1039.9055.70

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Gokaldas Exports Ltd FAQs

The current trading price of Gokaldas Exports on 22-Sep-2026 16:59 is ₹695.5.

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 21-Sep-2026 the market cap of Gokaldas Exports stood at ₹5,096.5 Cr

The latest P/E ratio of Gokaldas Exports as of 21-Sep-2026 is 22.69.

The latest P/B ratio of Gokaldas Exports as of 21-Sep-2026 is 2.14.

The 52-week high of Gokaldas Exports is ₹953.5 and the 52-week low is ₹531.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gokaldas Exports is ₹2,806 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gokaldas Exports Ltd is a average quality company.

The key valuation ratios of Gokaldas Exports 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 Gokaldas Exports Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Gokaldas Exports Ltd

Gokaldas Exports Limited (GEL) is a leading apparel manufacturer since 1979. The company exports to some of the major fashion brands and retailers across many countries. The company consistently strives to deliver excellence every step of the way.

The company’s world class apparel manufacturing facilities are complemented by integrated ancillary units which provide services such as laundry, embroidery, printing, quilting, and poly wadding. It is one of the largest organized apparel manufacturers in India with a manufacturing capacity of multimillion apparel pieces per annum.

The company has a proud workforce of nearly thousands of people, 80% of whom are women. All the units are certified to international standards for environmental and social compliance. The Company is listed on the Bombay Stock Exchange (BSE) Limited and National Stock Exchange (NSE) Limited.

Business area of the company

The company is engaged in the designing, manufacturing and exporting of a wide range of apparel products ranging from outerwear, activewear and fashion wear for all seasons.

Products

  • High fashion garments
  • Outerwear
  • Industrial workwear
  • Healthcare garments
  • Sportswear

Services offered

  • Laying
  • Cutting
  • Sewing
  • Checking
  • Labs
  • Washing
  • Ironing
  • Finishing
  • Design
  • Embroidery
  • Printing
  • Laser
  • Fusing
  • Scraping
  • Hand Grinding
  • Quilting
  • Polyfill

Milestones

  • 1947: After India’s partition in the year 1947, Jhamandas Hinduja and his two brothers, Naraindas and Devkishendas, moved their Sindh-based silk trading business Gokaldas Harbhagwandas Partners to India.
  • 1979: The business was split among the three brothers, with Jhamandas Hinduja taking the lead of the major successor, Gokaldas Exports. The Company was subsequently run by his three sons, Madanlal, Rajendra, and Dinesh Hinduja, who were involved since its inception.
  • 2005: The Company went public in 2005 and was listed on Indian stock exchanges.
  • 2007: Gokaldas Exports Ltd. crossed the Rs 10 billion sales milestone, a first for an Indian apparel Company. Looking at the growing potential of the textile industry, Blackstone, the global private equity giant, acquired a controlling stake of approximately 70% in the Company.
  • 2007-2017: Under the management and leadership of Blackstone, the Company confronted a changing business environment ushered in by abolition of Multi Fibre Agreement imposed Quotas and a growing apparel business in Bangladesh.
  • 2017: Blackstone steadily reduced its investment in the Company and finally exited from its decadelong investment by selling its stake to another Private Equity firm Clear Wealth Consultancy Services LLP.
  • 2021: Clear Wealth now holds about 33% of the Company, and the Company is listed on BSE and NSE of India. With the COVID-19 pandemic, Gokaldas Exports faced a new kind of challenge, but it turned the crisis into an opportunity and achieved greater market share in the bargain. The journey continues as the Company gears up to take monumental strides.
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