---
title: "Ganga Bath Fittings Ltd (GANGABATH) — Share Price, Financials & Analysis"
symbol: "GANGABATH"
company: "Ganga Bath Fittings Ltd"
canonical: "https://tapetide.com/stocks/GANGABATH"
isin: "INE0ZI101018"
nse_symbol: "GANGABATH"
sector: "Consumer Goods"
industry: "Sanitary Ware"
market_cap_cr: 44.86
generated_at: "2026-09-13T19:51:55.816Z"
---

# Ganga Bath Fittings Ltd (GANGABATH)

Canonical page: https://tapetide.com/stocks/GANGABATH

## Company

- **NSE Symbol:** GANGABATH
- **ISIN:** INE0ZI101018
- **Sector:** Consumer Goods
- **Industry:** Sanitary Ware
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2025-06-11
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** gangabathfittings.com

## About

Incorporated in 2004, Ganga Bath Fittings 
Ltd is in the business of manufacturing 
and supplying Bathroom Accessories[1]

## Latest Price

- **Price:** ₹19.9
- **Change:** -0.6 (-2.93%)
- **Open:** ₹20.25
- **Day High:** ₹20.25
- **Day Low:** ₹19.5
- **Previous Close:** ₹20.5
- **Volume:** 18000
- **As Of:** 2026-09-11T07:19:01+00:00

## Key Fundamentals

Observed at 2026-09-11T04:38:39.757056Z.

- **Market Cap:** ₹44.86 Cr
- **Classification:** SME
- **P/E (reported):** 36
- **Book Value:** ₹24.58
- **Price to Book:** 0.83
- **Dividend Yield:** 0%
- **ROE:** 16.39%
- **ROCE:** 25.25%
- **Debt to Equity:** 0.27
- **Revenue (yearly):** ₹34.99 Cr
- **Net Income:** ₹1.91 Cr
- **EBITDA:** ₹5.21 Cr
- **52-Week High:** ₹27.5
- **52-Week Low:** ₹15.5
- **RSI (14):** 39.17

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Rising
- **Percentile:** 52 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 53.96 | 9% |
| growth | 56.62 | 9% |
| momentum | 70.5 | 12% |
| ownership | 47.31 | 24% |
| quality | 52.81 | 22% |
| valuation | 32.03 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.81 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.1% over last 3 years.
- Company might be capitalizing the interest cost
- Debtor days have increased from 96.2 to 117 days.
- Working capital days have increased from 157 days to 318 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 4.62% | -25.25% | -282.35% |
| ebitda margin growth | -28.5% | -41.51% | 28.63% |
| net income growth | -46.94% | 142% | — |
| revenue growth | 9.34% | 42% | 23.46% |
| roce | 15.24% | -92.97% | 113.99% |
| roe | 0.55% | — | -78.15% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 16.35 | 15.58 | 16.72 | 18.27 |
| Expenses | 12.36 | 12.99 | 15.49 | 14.29 |
| Operating Profit | 3.99 | 2.59 | 1.23 | 3.98 |
| OPM % | 24.4 | 16.62 | 7.36 | 21.78 |
| Other Income | 0.02 | 0.01 | 0 | 0.27 |
| Interest | 0.46 | 0.84 | 0.44 | 0.61 |
| Depreciation | 0.29 | 0.26 | 0.26 | 2.24 |
| Profit before tax | 3.26 | 1.5 | 0.53 | 1.4 |
| Tax % | 23.62 | 27.33 | 26.42 | 36.43 |
| Net Profit | 2.5 | 1.08 | 0.39 | 0.89 |
| EPS in Rs | 1.61 | 0.69 | 0.18 | 0.4 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 10.67 | 12.18 | 13.58 | 31.93 | 34.99 |
| Expenses | 9.94 | 10.77 | 12.04 | 25.31 | 29.78 |
| Operating Profit | 0.73 | 1.41 | 1.54 | 6.62 | 5.21 |
| OPM % | 6.84 | 11.58 | 11.34 | 20.73 | 14.89 |
| Other Income | 0.03 | 0 | 0.1 | 0.02 | 0.27 |
| Interest | 0.35 | 0.86 | 0.38 | 1.33 | 1.05 |
| Depreciation | 0.42 | 0.39 | 0.4 | 0.54 | 2.5 |
| Profit before tax | -0.01 | 0.16 | 0.86 | 4.77 | 1.93 |
| Tax % | -200 | 43.75 | 31.4 | 24.95 | 34.2 |
| Net Profit | 0.01 | 0.09 | 0.59 | 3.58 | 1.28 |
| EPS in Rs | — | — | — | 2.3 | 0.58 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0 | 0 | 0 | 15.54 | 22.21 |
| Reserves | 0.01 | 0.01 | 0.01 | 6.29 | 32.39 |
| Borrowings | 4.28 | 5.15 | 7.38 | 15.02 | 14.66 |
| Other Liabilities | 2.73 | 3.45 | 3.02 | 9.96 | 9.51 |
| Total Liabilities | 7.02 | 8.61 | 10.41 | 46.81 | 78.77 |
| Fixed Assets | 1.84 | 1.56 | 1.83 | 2.36 | 25.16 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 1.03 |
| Other Assets | 5.18 | 7.05 | 8.58 | 44.45 | 52.58 |
| Total Assets | 7.02 | 8.61 | 10.41 | 46.81 | 78.77 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.68 | 0.16 | -0.99 | -1.24 | -5.73 |
| Cash from Investing Activity | -0.66 | -0.5 | -0.41 | -1.27 | -25.1 |
| Cash from Financing Activity | -0.13 | -0.06 | 1.25 | 4.79 | 30.07 |
| Net Cash Flow | -0.1 | -0.4 | -0.15 | 2.28 | -0.76 |
| Free Cash Flow | 0.05 | 0.05 | -1.66 | -1.34 | -31.03 |
| CFO/OP | 100 | 13 | -42 | 0 | -110 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 56.44 | 51.84 | 38.17 | 133.17 | 117.35 |
| Inventory Days | 100.68 | 155.57 | 211.99 | 435.43 | 459.82 |
| Days Payable | 96.12 | 112.63 | 84.31 | 106.44 | 101.06 |
| Cash Conversion Cycle | 61 | 94.78 | 165.85 | 462.16 | 476.12 |
| Working Capital Days | -35.92 | -46.75 | -48.65 | 202.1 | 317.75 |
| ROCE % | — | 21.59 | 19.76 | 27.58 | 5.62 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 98.81% | 98.81% | 69.16% | 69.16% | 69.16% |
| FIIs | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0.18% | 0.14% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 1.19% | 0% | 26.98% | 23.07% | 22.2% |
| Others | 0% | 1.19% | 3.68% | 7.64% | 8.64% |
| No. of Shareholders | 12 | 12 | 1491 | 1269 | 1136 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 20.62 | Sell |
| EMA (10) | 20.64 | Sell |
| SMA (20) | 21.42 | Sell |
| EMA (20) | 21.14 | Sell |
| SMA (50) | 21.84 | Sell |
| EMA (50) | 21.74 | Sell |
| SMA (100) | 22.59 | Sell |
| EMA (100) | 22.01 | Sell |
| SMA (200) | 21.47 | Sell |
| EMA (200) | 23.19 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 34.53 | Neutral |
| MACD (12,26,9) | -0.56 | Sell |
| Stochastic (14,3,3) | 21.09 | Neutral |
| ADX (14) | 14.73 | Neutral |
| Williams %R (14) | -88.24 | Buy |
| ATR (14) | 0.97 | High Volatility |
| ROC (12) | -9.95 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 42.82 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 6 March 2026 - GANGA BATH FITTINGS LIMITED has informed about Resignation of Statutory Auditor | [Resignation of Statutory Auditor 6 March 2026 - GANGA BATH FITTINGS LIMITED has informed about Resignation of Statutory Auditor](https://nsearchives.nseindia.com/corporate/GANGABATH_ROSA_80125_KMP_Doc.zip) |
| 6 April 2026 - Regulation 32 statement for IPO proceeds ended 31 March 2025; no deviation or variation reported. | [Reply to Clarification- Financial results 6 April 2026 - Regulation 32 statement for IPO proceeds ended 31 March 2025; no deviation or variation reported.](https://nsearchives.nseindia.com/corporate/GBFLMD_20092025092314_SOD_Certificate_signed.pdf) |
| 5 March 2026 - M/s ASDT & Co. LLP resigned effective 05-Mar-2026; cited firm restructuring; no material reasons. | [Change in Auditors 5 March 2026 - M/s ASDT & Co. LLP resigned effective 05-Mar-2026; cited firm restructuring; no material reasons.](https://nsearchives.nseindia.com/corporate/GBFLMD_05032026195212_Ganga_Bath_Intimation_Auditor_Resignation_new_Signed.pdf) |
| 31 Aug - Board approved rights issue up to Rs 1,700 lakh and AGM notice. | [Outcome of Board Meeting 31 Aug - Board approved rights issue up to Rs 1,700 lakh and AGM notice.](https://nsearchives.nseindia.com/corporate/GBFLMD_31082026182120_Outcome_s.pdf) |
| 28 May 2026 - Board approved FY26 audited results; appointed internal and secretarial auditors; statutory audit opinion unmodified. | [Integrated Filing- Financial 28 May 2026 - Board approved FY26 audited results; appointed internal and secretarial auditors; statutory audit opinion unmodified.](https://nsearchives.nseindia.com/corporate/GBFLMD_28052026193347_Ganga_Results_Mar_26_Final_S.pdf) |
| 28 May 2026 - Board approved FY26 audited results; appointed internal and secretarial auditors for FY27; auditors issued unmodified opinion. | [Outcome of Board Meeting 28 May 2026 - Board approved FY26 audited results; appointed internal and secretarial auditors for FY27; auditors issued unmodified opinion.](https://nsearchives.nseindia.com/corporate/GBFLMD_28052026192317_Ganga_Results_Mar_26_Final_S.pdf) |
| 28 May 2026 - Audited FY26 results approved; internal and secretarial auditors appointed for FY27; audit opinion unmodified. | [Appointment 28 May 2026 - Audited FY26 results approved; internal and secretarial auditors appointed for FY27; audit opinion unmodified.](https://nsearchives.nseindia.com/corporate/GBFLMD_28052026193617_Ganga_Results_Mar_26_Final_S.pdf) |
| 28 Jul - 28 July 2026 newspaper publications in English and Gujarati submitted under Regulation 30. | [Copy of Newspaper Publication 28 Jul - 28 July 2026 newspaper publications in English and Gujarati submitted under Regulation 30.](https://nsearchives.nseindia.com/corporate/GBFLMD_28072026185107_Ganga_Newspaper_Advertisement_s.pdf) |
| 27 Jul - Postal ballot on increasing authorized share capital from Rs. 25 crore to Rs. 28 crore; e-voting July 28-Aug. 26, 2026. | [Shareholders meeting 27 Jul - Postal ballot on increasing authorized share capital from Rs. 25 crore to Rs. 28 crore; e-voting July 28-Aug. 26, 2026.](https://nsearchives.nseindia.com/corporate/GBFLMD_27072026181008_Intimation_Ganga_Signed.pdf) |
| 27 Aug - Postal ballot approved increase in authorised share capital and MOA capital clause alteration. | [Shareholders meeting 27 Aug - Postal ballot approved increase in authorised share capital and MOA capital clause alteration.](https://nsearchives.nseindia.com/corporate/GBFLMD_27082026191627_Ganga_Intimation_Signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31024_GANGABATH_2025_2026_A_6703225_01092026183200.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29039_GANGABATH_2024_2025_A_5440442_15092025184642.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:51:55.816Z.