---
title: "Giriraj Civil Developers Ltd (GIRIRAJ) — Share Price, Financials & Analysis"
symbol: "GIRIRAJ"
company: "Giriraj Civil Developers Ltd"
canonical: "https://tapetide.com/stocks/GIRIRAJ"
isin: "INE614Z01017"
nse_symbol: "GIRIRAJ"
sector: "Construction"
industry: "Civil Construction"
market_cap_cr: 185.38
generated_at: "2026-09-13T19:32:12.504Z"
---

# Giriraj Civil Developers Ltd (GIRIRAJ)

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

## Company

- **NSE Symbol:** GIRIRAJ
- **ISIN:** INE614Z01017
- **Sector:** Construction
- **Industry:** Civil Construction
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2022-09-02
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** giriraj.co

## About

Incorporated in 2005, Giriraj Civil Developers Ltd is in the business of civil construction[1]

## Latest Price

- **Price:** ₹84.5
- **Change:** +4 (+4.97%)
- **Open:** ₹82.95
- **Day High:** ₹84.5
- **Day Low:** ₹82
- **Previous Close:** ₹80.5
- **Volume:** 6250
- **As Of:** 2026-09-11T09:44:45+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:37.546267Z.

- **Market Cap:** ₹185.38 Cr
- **Classification:** SME
- **P/E (reported):** 12.8
- **Book Value:** ₹61.13
- **Price to Book:** 1.32
- **Dividend Yield:** 0%
- **ROE:** 13.64%
- **ROCE:** 14.41%
- **Debt to Equity:** 0.15
- **Revenue (yearly):** ₹308.98 Cr
- **Net Income:** ₹15.14 Cr
- **EBITDA:** ₹23.95 Cr
- **52-Week High:** ₹378
- **52-Week Low:** ₹52.3
- **RSI (14):** 48.88

## Tapetide Score

- **Score:** 39 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 12 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 55.7 | 9% |
| growth | 36.83 | 9% |
| momentum | 4.11 | 12% |
| ownership | 58.08 | 24% |
| quality | 35.51 | 22% |
| valuation | 35.07 | 24% |

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

## Key Insights

### Strengths

- Company has delivered good profit growth of 39.4% CAGR over last 5 years
- Promoter holding has increased by 3.86% over last quarter.
- Company's median sales growth is 19.2% of last 10 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.8% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 87.84% | -466.41% | -114.07% |
| ebitda margin growth | 28.57% | -16.83% | -22.04% | — |
| net income growth | 166.67% | -15.42% | 56% | 39% |
| revenue growth | 243.08% | -2.99% | 46% | 36% |
| roce | 33.82% | 4.12% | 5.18% | — |
| roe | 148.39% | 52.57% | 10.02% | — |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 15 | 49 | 42 | 41 | 33 | 62 | 42 | 93 | 72 | 223 | 134 | 162 |
| Expenses | 13 | 45 | 39 | 38 | 30 | 58 | 38 | 82 | 67 | 203 | 123 | 149 |
| Operating Profit | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 11 | 4 | 20 | 11 | 13 |
| OPM % | 12 | 7 | 7 | 8 | 9 | 7 | 8 | 12 | 6 | 9 | 8 | 8 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 1 | 3 | 1 | 0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 1 | 3 | 2 | 3 | 2 | 4 | 2 | 11 | 4 | 21 | 9 | 12 |
| Tax % | 29 | 26 | 24 | 25 | 23 | 24 | 20 | 24 | 24 | 27 | 25 | 26 |
| Net Profit | 1 | 2 | 2 | 2 | 2 | 3 | 2 | 9 | 3 | 15 | 7 | 8 |
| EPS in Rs | 0.38 | 1.28 | 1.16 | 1.18 | 1.01 | 1.43 | 0.79 | 3.56 | 1.22 | 6.26 | 2.76 | 3.55 |

### Profit & Loss

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 45 | 56 | 44 | 24 | 64 | 83 | 95 | 135 | 295 | 296 |
| Expenses | 32 | 50 | 39 | 22 | 58 | 77 | 88 | 120 | 270 | 272 |
| Operating Profit | 13 | 5 | 5 | 3 | 5 | 6 | 7 | 14 | 25 | 24 |
| OPM % | 28 | 9 | 12 | 11 | 8 | 7 | 8 | 11 | 8 | 8 |
| Other Income | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 2 | 4 | 2 |
| Interest | 10 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 |
| Profit before tax | 3 | 3 | 3 | 1 | 4 | 5 | 6 | 13 | 24 | 20 |
| Tax % | 34 | 31 | 27 | 24 | 27 | 24 | 24 | 23 | 26 | 26 |
| Net Profit | 2 | 2 | 2 | 1 | 3 | 4 | 4 | 10 | 18 | 15 |
| EPS in Rs | 2.42 | 1.31 | 1.42 | 0.64 | 1.65 | 2.34 | 2.23 | 4.23 | 7.47 | 6.31 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1 | 3 | 3 | 3 | 3 | 3 | 4 | 24 | 24 | 24 |
| Reserves | 16 | 20 | 22 | 23 | 27 | 31 | 56 | 89 | 107 | 122 |
| Borrowings | 14 | 20 | 18 | 18 | 15 | 18 | 20 | 10 | 17 | 22 |
| Other Liabilities | 33 | 15 | 19 | 13 | 32 | 32 | 31 | 46 | 142 | 79 |
| Total Liabilities | 64 | 58 | 63 | 57 | 76 | 84 | 111 | 169 | 291 | 247 |
| Fixed Assets | 0 | 1 | 1 | 1 | 1 | 1 | 9 | 10 | 12 | 11 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 2 | 2 | 1 | 26 | 23 | 2 | 12 | 9 | 2 |
| Other Assets | 62 | 55 | 60 | 56 | 50 | 61 | 101 | 148 | 270 | 233 |
| Total Assets | 64 | 58 | 63 | 57 | 76 | 84 | 111 | 169 | 291 | 247 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | 3 | -2 | -1 | 29 | -5 | -23 | -28 | -7 | -14 |
| Cash from Investing Activity | 0 | 0 | 1 | 2 | -24 | 4 | 14 | -9 | 2 | 8 |
| Cash from Financing Activity | 0 | 3 | -4 | -2 | -4 | 2 | 22 | 30 | 4 | 1 |
| Net Cash Flow | 2 | 6 | -5 | -1 | 1 | 0 | 12 | -7 | 0 | -6 |
| Free Cash Flow | 2 | 3 | -2 | -1 | 29 | -6 | -31 | -30 | -8 | -14 |
| CFO/OP | 19 | 60 | -41 | -40 | 539 | -87 | -315 | -174 | -1 | -32 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 314 | 103 | 153 | 214 | 99 | 43 | 68 | 90 | 83 | 104 |
| Inventory Days | 99 | 128 | 225 | 324 | 126 | 130 | 213 | 205 | 126 | 108 |
| Days Payable | 341 | 110 | 209 | 235 | 186 | 108 | 145 | 166 | 90 | 109 |
| Cash Conversion Cycle | 72 | 121 | 168 | 302 | 39 | 65 | 136 | 128 | 118 | 103 |
| Working Capital Days | 44 | 35 | 91 | 250 | -12 | 12 | 63 | 116 | 116 | 129 |
| ROCE % | 44 | 16 | 14 | 7 | 13 | 14 | 11 | 15 | 20 | 15 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 59.57% | 59.57% | 64.19% | 69.19% | 55.5% | 55.5% | 51.1% | 51.1% | 51.1% | 51.1% | 54.96% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 17.46% | 16.83% | 28.67% | 30.66% | 44.41% | 40% | 37.68% | 37.57% | 37.48% | 36.82% | 33.35% |
| Others | 22.97% | 23.6% | 7.14% | 0.15% | 0.09% | 4.5% | 11.23% | 11.33% | 11.42% | 12.08% | 11.69% |
| No. of Shareholders | 75 | 75 | 74 | 62 | 72 | 91 | 161 | 311 | 405 | 457 | 487 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 5 / 7 / 7

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 79.69 | Buy |
| EMA (10) | 81.1 | Buy |
| SMA (20) | 81.6 | Buy |
| EMA (20) | 80.59 | Buy |
| SMA (50) | 86.89 | Sell |
| EMA (50) | 90.78 | Sell |
| SMA (100) | 122.76 | Sell |
| EMA (100) | 113.22 | Sell |
| SMA (200) | 143.61 | Sell |
| EMA (200) | 148.85 | Sell |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 53.09 | Neutral |
| MACD (12,26,9) | -0.59 | Buy |
| Stochastic (14,3,3) | 28.16 | Neutral |
| ADX (14) | 19.26 | Neutral |
| Williams %R (14) | -63.18 | Neutral |
| ATR (14) | 4.98 | High Volatility |
| ROC (12) | -12.53 | Sell |
| Stoch RSI (14) | 48.17 | Neutral |
| UO (7,14,28) | 55.29 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Company shared FY2025-26 annual report link and AGM notice for September 30, 2026. | [Shareholders meeting 9 Sep - Company shared FY2025-26 annual report link and AGM notice for September 30, 2026.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_09092026191855_Intimationlettertoshareholder.pdf) |
| 9 Sep - 21st AGM on September 30, 2026 at 1:00 PM; remote e-voting details announced. | [Copy of Newspaper Publication 9 Sep - 21st AGM on September 30, 2026 at 1:00 PM; remote e-voting details announced.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_09092026141237_postdispatchnotice.pdf) |
| 9 April 2026 - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_09042026171629_signedcertificate.pdf) |
| 9 April 2026 - Giriraj Civil Developers confirms non-applicability as Large Corporate as of March 31, 2026; no annual disclosure required. | [Updates 9 April 2026 - Giriraj Civil Developers confirms non-applicability as Large Corporate as of March 31, 2026; no annual disclosure required.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_09042026174539_Declarationsigned.pdf) |
| 8 Sep - 21st AGM on September 30, 2026; remote e-voting September 27-29, annual report FY2025-26 circulated. | [Shareholders meeting 8 Sep - 21st AGM on September 30, 2026; remote e-voting September 27-29, annual report FY2025-26 circulated.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_08092026144813_StockexchangeintimationAGMsign.pdf) |
| 7 Sep - Board approved AGM on September 30, 2026, auditor and independent director appointments, and e-voting dates. | [Change in Auditors 7 Sep - Board approved AGM on September 30, 2026, auditor and independent director appointments, and e-voting dates.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_07092026163655_bmoutcome.pdf) |
| 7 Sep - Board approved 21st AGM on Sept 30, 2026, auditor and independent director appointments, and e-voting schedule. | [Outcome of Board Meeting 7 Sep - Board approved 21st AGM on Sept 30, 2026, auditor and independent director appointments, and e-voting schedule.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_07092026162710_bmoutcome.pdf) |
| 7 March 2026 - India Ratings assigned IND BBB/Stable and IND A3+ to Giriraj Civil's INR800 million bank loan facilities on Mar 6, 2026. | [Credit Rating- New 7 March 2026 - India Ratings assigned IND BBB/Stable and IND A3+ to Giriraj Civil's INR800 million bank loan facilities on Mar 6, 2026.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_07032026170513_GIRIRAJCREDITRATINGSIGNED.pdf) |
| 31 January 2026 - Exchange had sought clarification from Giriraj Civil Developers Limited for the quarter ended 31-Mar-2024 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. … | [Reply to Clarification- Financial results 31 January 2026 - Exchange had sought clarification from Giriraj Civil Developers Limited for the quarter ended 31-Mar-2024 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …](https://nsearchives.nseindia.com/corporate/GIRIRAJ_26072024131940_GCDLreplynonapplicabilityofconsolidatedFS.pdf) |
| 29 May 2026 - Giriraj Civil Developers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026. | [Outcome of Board Meeting 29 May 2026 - Giriraj Civil Developers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/GIRIRAJ_29052026151240_OutcomeofBMgiriraj2905.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28915_GIRIRAJ_2024_2025_A_8472293_08092025172417.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26343_GIRIRAJ_2023_2024_29102024185359.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23948_GIRIRAJ_2022_2023_18102023115909_10182023120001.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21478_GIRIRAJ_2021_2022_06092022153937_09062022160015.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19802_GIRIRAJ_2020_2021_05102021171333_10052021180003.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17371_GIRIRAJ_2019_2020_05092020145807_05092020150003.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16369_GIRIRAJ_2018_2019_03072020180136_03072020185326.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16838_GIRIRAJ_2017_2018_22082020180114_22082020190002.zip) |

---

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 2026-09-13T19:32:12.504Z.