---
title: "GEI Industrial Systems Ltd (GEINDSYS) — Share Price, Financials & Analysis"
symbol: "GEINDSYS"
company: "GEI Industrial Systems Ltd"
canonical: "https://tapetide.com/stocks/GEINDSYS"
sector: "Industrials"
industry: "Industrial Manufacturing"
generated_at: "2026-09-13T19:17:29.000Z"
---

# GEI Industrial Systems Ltd (GEINDSYS)

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

## Company

- **Sector:** Industrials
- **Industry:** Industrial Manufacturing
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** geiind.com

## About

GEI is one of the largest manufacturers of air-cooled heat exchangers and air-cooled condensers in India. The air-cooled heat exchangers are used for cooling of hot fluids using atmospheric air and for dry cooling tower as a replacement of conventional wet type cooling towers. The company is a major supplier of air-cooled heat exchangers to the oil & gas, refining, power, chemical, sugar, cement, fertiliser and other industries.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.25 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -34.4% over past five years.
- Company has a low return on equity of -54.2% over last 3 years.
- Contingent liabilities of Rs.224 Cr.
- Company might be capitalizing the interest cost
- Company has high debtors of 1,467 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -13% | — | — |
| revenue growth | -29% | -56% | -34% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13 | 17 | 15 | 15 | 23 | 10 | 8 | 5 | 7 | 2 | 23 | 0 |
| Expenses | 15 | 20 | 15 | 20 | 28 | 12 | 11 | 6 | 16 | 6 | 26 | 2 |
| Operating Profit | -2 | -3 | 0 | -6 | -5 | -3 | -3 | -1 | -8 | -4 | -3 | -2 |
| OPM % | -14 | -15 | -2.1 | -39 | -22 | -28 | -35 | -12 | -109 | -175 | -13 | -707 |
| Other Income | 0 | 0 | 0 | 2 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Interest | 12 | 11 | 12 | 14 | 4 | 8 | 9 | 4 | 0 | 6 | 6 | 6 |
| Depreciation | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 5 | 2 | 2 | 3 |
| Profit before tax | -16 | -16 | -14 | -20 | -9 | -12 | -13 | -7 | -13 | -12 | -11 | -11 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -16 | -16 | -14 | -20 | -9 | -12 | -13 | -7 | -13 | -12 | -11 | -11 |
| EPS in Rs | -8.1 | -7.93 | -7.32 | -9.96 | -4.74 | -6.25 | -6.6 | -3.35 | -6.67 | -5.89 | -5.77 | -5.34 |

### Profit & Loss

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 249 | 359 | 365 | 153 | 66 | 30 | 33 |
| Expenses | 209 | 287 | 318 | 164 | 81 | 44 | 49 |
| Operating Profit | 41 | 72 | 47 | -11 | -15 | -14 | -17 |
| OPM % | 16 | 20 | 13 | -7 | -23 | -47 | -51 |
| Other Income | 2 | 6 | 10 | 3 | 3 | 1 | 1 |
| Interest | 18 | 30 | 50 | 50 | 41 | 21 | 18 |
| Depreciation | 2 | 3 | 4 | 6 | 7 | 11 | 13 |
| Profit before tax | 23 | 45 | 3 | -64 | -60 | -45 | -47 |
| Tax % | 30 | 36 | 92 | -8 | 0 | 0 | — |
| Net Profit | 16 | 28 | 0 | -59 | -60 | -45 | -47 |
| EPS in Rs | 9.48 | 17.13 | 0.16 | -29.77 | -30.73 | -22.87 | -23.67 |
| Dividend Payout % | 11 | 6 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 17 | 17 | 17 | 20 | 20 | 20 |
| Reserves | 85 | 176 | 110 | 121 | 61 | 15 |
| Borrowings | 117 | 209 | 342 | 336 | 335 | 351 |
| Other Liabilities | 85 | 140 | 142 | 91 | 116 | 82 |
| Total Liabilities | 303 | 542 | 611 | 568 | 531 | 468 |
| Fixed Assets | 67 | 103 | 107 | 161 | 147 | 136 |
| CWIP | 0 | 4 | 46 | 3 | 3 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 236 | 435 | 458 | 404 | 381 | 328 |
| Total Assets | 303 | 542 | 611 | 568 | 531 | 468 |

### Cash Flow

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -16 | -28 | -2 | 28 | 10 | 112 |
| Cash from Investing Activity | -19 | -20 | -51 | -17 | 8 | -93 |
| Cash from Financing Activity | 44 | 101 | -6 | -15 | -23 | -21 |
| Net Cash Flow | 9 | 52 | -59 | -4 | -4 | -1 |
| Free Cash Flow | -22 | -37 | -51 | 11 | 19 | 19 |
| CFO/OP | -39 | -39 | -3 | -250 | -69 | -790 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 115 | 143 | 169 | 407 | 708 | 1467 |
| Inventory Days | 276 | 329 | 368 | 647 | 1708 | 1067 |
| Days Payable | 71 | 119 | 131 | 91 | 279 | 282 |
| Cash Conversion Cycle | 320 | 353 | 406 | 962 | 2137 | 2252 |
| Working Capital Days | 193 | 222 | 292 | 686 | 1343 | 1639 |
| ROCE % | — | 24 | 12 | -3 | -4 | -6 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 5 / 6 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 31.78 | Buy |
| EMA (10) | 32.65 | Buy |
| SMA (20) | 33.15 | Buy |
| EMA (20) | 33.25 | Buy |
| SMA (50) | 36.34 | Sell |
| EMA (50) | 35.9 | Sell |
| SMA (100) | 40.5 | Sell |
| EMA (100) | 38.32 | Sell |
| SMA (200) | 40.33 | Sell |
| EMA (200) | 39.74 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.2 | Neutral |
| MACD (12,26,9) | -1.08 | Buy |
| Stochastic (14,3,3) | 52.53 | Neutral |
| ADX (14) | 15.14 | Neutral |
| Williams %R (14) | -51.98 | Neutral |
| ATR (14) | 4.01 | High Volatility |
| ROC (12) | -0.71 | Sell |
| Stoch RSI (14) | 94.77 | Sell |
| UO (7,14,28) | 40.32 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2 Nov 2017 - Extension of 24th Annual General Meeting | [Updates 2 Nov 2017 - Extension of 24th Annual General Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=81463c91-e220-4429-863f-29fb23db99c2.pdf) |
| 2 Nov 2017 - Extension of 24th Annual General Meeting | [Updates 2 Nov 2017 - Extension of 24th Annual General Meeting](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/11/81463c91-e220-4429-863f-29fb23db99c2.pdf) |
| 2 Jan 2018 - Regarding invitation for resolution plans through advertisement in newspapers | [Updates 2 Jan 2018 - Regarding invitation for resolution plans through advertisement in newspapers](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/1/c3205d49-516b-474b-9718-31a542efb22f.pdf) |
| 2 Jan 2018 - Intimation regarding invitation for resolution plans through advertisement in newspapers | [Updates 2 Jan 2018 - Intimation regarding invitation for resolution plans through advertisement in newspapers](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c3205d49-516b-474b-9718-31a542efb22f.pdf) |
| 15 Nov 2016 - GEI Industrial Systems Ltd has submitted to BSE a copy of Balance Sheet & Profit & Loss A/C for the period ended March 31, 2016. | [Financial Statement for March 31, 2016 15 Nov 2016 - GEI Industrial Systems Ltd has submitted to BSE a copy of Balance Sheet & Profit & Loss A/C for the period ended March 31, 2016.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=44273A3F_0A47_450E_AEE0_AC537034E627_122136.pdf) |
| 15 Nov 2016 - GEI Industrial Systems Ltd has submitted to BSE a copy of Balance Sheet & Profit & Loss A/C for the period ended March 31, 2016. | [Financial Statement for March 31, 2016 15 Nov 2016 - GEI Industrial Systems Ltd has submitted to BSE a copy of Balance Sheet & Profit & Loss A/C for the period ended March 31, 2016.](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/11/44273A3F_0A47_450E_AEE0_AC537034E627_122136.pdf) |
| 11 Jan 2018 - Regarding extension of Corporate Insolvency Resolution Process (CIRP) of GEI Indsutrial Systems Limited | [Updates 11 Jan 2018 - Regarding extension of Corporate Insolvency Resolution Process (CIRP) of GEI Indsutrial Systems Limited](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/1/adcdb34e-1510-44a3-ac43-6a6b86fbeb3c.pdf) |
| 11 Jan 2018 - Intimation regarding extension of Corporate Insolvency Resolution Process (CIRP) of GEI Indsutrial Systems Limited | [Updates 11 Jan 2018 - Intimation regarding extension of Corporate Insolvency Resolution Process (CIRP) of GEI Indsutrial Systems Limited](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=adcdb34e-1510-44a3-ac43-6a6b86fbeb3c.pdf) |
| — | [Appointment of Interim Resolution Professional (IRP) 6 Sep 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=988497ab-a0ea-46ea-b6b4-944bd888b874.pdf) |
| — | [Appointment of Interim Resolution Professional (IRP) 6 Sep 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/988497ab-a0ea-46ea-b6b4-944bd888b874.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_2109_GEINDSYS_2012_2013_20112013154021.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_GEINDSYS_2011_2012_18092012070914.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_GEINDSYS_2010_2011_14092011034645.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_GEINDSYS_2009_2010_13092010120000.zip) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/530743/5307430310.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 2026-09-13T19:17:29.000Z.