Godrej Industries Ltd logo

Godrej Industries Ltd

GODREJIND NSE

Key Fundamentals

MidcapDiversified GroupDiversified
Market Cap
₹38,406 Cr
Volatility
Moderate
P/E Ratio
31.52
EBITDA
₹2,176 Cr
Return on Equity
3.94%
Debt to Equity
3.7
Book Value
₹331.84
EPS
₹6.07
52W High
₹1,325
52W Low
₹744.2

Technical Indicators

Key Insights

Weaknesses

5
  • Stock is trading at 3.50 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 7.90% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.4,123 Cr.

Growth Rate

Revenue Growth
1.43% ↘
Net Income Growth
53.54% ↘
Cash Flow Change
-20.23% ↘
ROE
120.81% ↘
ROCE
23.45% ↘
EBITDA Margin (Avg.)
-58.66% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk high
HOLD Worth holding, not adding Conviction 5/10

Godrej Industries trades at a PE of 15.5x with strong profit CAGR of 45% TTM, but low ROE of 8% over 3 years, zero dividend payout, and heavy reliance on other income of Rs.4,123 Cr raise quality-of-earnings concerns. The stock's -18% one-year return signals near-term weakness despite decent long-term compounding at 11% over 10 years.

Bull Case 8
  • Compounded profit growth of 45% TTM indicates a sharp earnings recovery and improving profitability trajectory
  • 10-year compounded profit CAGR of 24% demonstrates consistent long-term earnings compounding across cycles
  • PE ratio of 15.5x is reasonable for a diversified conglomerate with multiple high-growth subsidiaries (Godrej Consumer, Godrej Properties, Godrej Agrovet)
  • 3-year stock CAGR of 32% shows strong medium-term wealth creation for investors
  • Compounded sales growth of 19% over 5 years reflects robust top-line expansion across business verticals
  • ROE improved from 8% (3-year average) to 12% last year, indicating improving capital efficiency
  • Market cap of Rs.37,459 Cr provides adequate liquidity and institutional participation
  • 10-year stock CAGR of 11% demonstrates ability to deliver above-fixed-income returns over long holding periods
Bear Case 8
  • Other income of Rs.4,123 Cr constitutes a significant portion of earnings, raising serious quality-of-earnings concerns
  • Zero dividend yield despite repeated profitability signals poor capital return policy for shareholders
  • 3-year ROE of only 7.90% is well below the 15% threshold expected for quality compounders
  • Stock is down -18% over the past 1 year, significantly underperforming broader market indices
  • Price-to-book of 3.35x is elevated given the low return on equity, implying poor value proposition
  • Company may be capitalizing interest costs, which flatters reported profits and understates true operating expenses
  • No analyst coverage or ratings available suggests limited institutional research interest or conviction
  • Debt-to-equity ratio unavailable indicates opaque balance sheet disclosure for a holding company structure

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 8h ago
Headwinds 3
  • High debt-to-equity ratio 3.7x Jun 2

    Parent company carries a debt-to-equity ratio of 3.7, limiting borrowing capacity while needing ₹3,000-4,500 crore over five years for wealth management expansion.

  • Stock fell 2.8% despite results Jun 2

    Shares settled 2.80% lower at ₹1,061.30 on NSE on June 2 despite strong Q4 earnings, hitting an intraday low of ₹1,056.5 (down 3.2%).

  • Talent and competition risks Jun 2

    Wealth management scaling requires 250-400 relationship managers with estimated annual personnel costs of ₹750-1,600 crore, competing against entrenched players like ICICI, HDFC, and 360 ONE.

Positives 6
  • Q4 profit doubled, margins expand Jun 2

    Consolidated net profit more than doubled to ₹444 crore in Q4 vs ₹183 crore YoY; revenue rose 33.1% to ₹7,694 crore with EBITDA margin expanding to 15.2% from 10.3%.

  • ₹1 lakh crore AUM target by 2031 Jun 2

    Godrej Wealth launched targeting ₹1 lakh crore AUM by 2031 across 35 locations, with ₹7,000 crore capital infusion planned into financial services businesses.

  • Godrej Capital IPO within 5 years Jun 2

    Group aims to list Godrej Capital (already ₹15,000 crore AUM, targeting ₹30,000 crore) within five years, potentially unlocking value for the holding company.

  • Godrej Properties ₹39K crore bookings Jun 2

    Godrej Properties is likely to register around ₹39,000 crore in new bookings in FY27 with several new project launches planned.

  • ₹370 crore invested in subsidiary Jun 25

    Godrej Industries invested ₹370 crore more in wholly owned subsidiary Godrej Investment Limited, which reported ₹2,477.72 crore consolidated income in FY26.

  • Suraj Godrej appointed director Jun 23

    Suraj Godrej appointed as Non-Executive Non-Independent Director via postal ballot with 99.98% votes in favour, strengthening promoter-level governance.

Neutral 3
  • ₹1,000 Cr NCDs at 8.23% coupon Jun 24

    Allotted 1,00,000 unsecured redeemable NCDs aggregating ₹1,000 crore in two equal series at 8.23% annual coupon on private placement basis.

  • Independent director tenure ends Jun 22

    Independent Director Ajaykumar Vaghani ceased to be director on June 22, 2026 after completing his tenure.

  • No promoter share encumbrance in FY26 Jun 17

    Confirmed no new encumbrance created by promoters or promoter group on their shareholding during FY26; existing encumbrances from FY20 remain unchanged.

TL;DR: Godrej Industries is executing an aggressive pivot into financial services with its wealth management launch targeting ₹1 lakh crore AUM by 2031, backed by strong Q4 results showing profit doubling and margin expansion. The real estate arm continues to perform well with ₹39,000 crore booking guidance. Key risks include elevated leverage at 3.7x debt-to-equity, heavy capital requirements of ₹3,000-4,500 crore for expansion, and execution challenges in a competitive wealth management market. The trend is improving as the group diversifies toward fee-based income, but near-term stock price weakness suggests the market wants proof of execution before re-rating.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
4,852
4,506
3,938
3,590
4,567
4,248
4,805
4,825
5,780
4,460
5,032
5,051
7,694
Expenses
4,252
4,264
3,672
3,311
4,511
3,914
4,230
4,228
5,186
4,063
4,898
4,507
6,527
Operating Profit
600
242
266
279
56
334
575
597
593
397
134
544
1,167
OPM %
12%
5%
7%
8%
1%
8%
12%
12%
10%
9%
3%
11%
15%
Other Income
442
532
397
380
536
1,072
439
436
695
1,352
1,294
694
784
Interest
284
303
333
348
369
433
477
505
542
576
584
626
684
Depreciation
79
86
89
96
100
101
108
111
110
114
121
126
141
PBT
679
386
240
216
122
873
429
417
635
1,059
723
486
1,126
Tax %
17%
24%
32%
24%
121%
27%
-14%
25%
34%
31%
32%
27%
25%
Net Profit
562
291
164
165
-25
641
489
312
416
725
493
353
841
EPS in Rs
8.91
5.29
2.59
3.16
-9.26
9.58
8.54
5.59
5.44
10.37
7.2
6.07
13.19
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
9,101
7,454
8,365
9,076
10,848
11,291
9,334
14,130
16,740
16,601
19,657
22,237
Expenses
8,615
7,061
7,708
8,805
10,233
10,479
9,020
13,083
15,230
15,406
17,553
19,995
Operating Profit
487
392
657
271
615
812
314
1,047
1,510
1,195
2,104
2,242
OPM %
5%
5%
8%
3%
6%
7%
3%
7%
9%
7%
11%
10%
Other Income
317
255
520
915
1,142
996
1,015
1,132
1,418
1,493
2,636
4,123
Interest
192
343
402
413
508
491
469
623
943
1,352
1,957
2,470
Depreciation
93
117
148
175
163
234
242
274
305
371
430
501
PBT
519
187
626
597
1,086
1,083
617
1,282
1,681
964
2,353
3,393
Tax %
26%
58%
27%
19%
20%
25%
37%
23%
15%
38%
21%
29%
Net Profit
589
323
459
484
864
812
391
992
1,421
595
1,858
2,412
EPS in Rs
11.98
4.78
7.63
10.05
17.53
16.46
9.94
19.42
28.96
1.78
29.14
36.83
Div. Payout %
15%
37%
23%
17%
7%
0%
0%
0%
0%
0%
0%
0%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
34
34
34
34
34
34
34
34
34
34
34
34
Reserves
3,194
2,968
3,162
3,301
4,313
5,755
7,520
7,093
7,951
7,968
10,118
11,143
Borrowings
5,885
7,200
7,554
6,918
7,116
7,275
10,071
14,506
19,642
28,996
38,088
51,564
Other Liabilities
4,392
3,931
4,241
6,500
6,530
7,143
11,157
12,202
16,117
24,331
39,488
63,564
Total Liabilities
13,504
14,133
14,991
16,753
17,993
20,207
28,781
33,835
43,744
61,329
87,728
1,26,305
Fixed Assets
1,837
2,828
3,281
3,302
3,824
4,049
4,520
4,971
5,269
6,365
6,954
7,359
CWIP
775
274
54
271
202
334
444
483
942
462
258
406
Investments
2,691
3,052
3,203
4,137
5,473
6,594
9,952
9,609
8,009
8,669
11,165
11,247
Other Assets
8,202
7,979
8,452
9,042
8,494
9,229
13,866
18,772
29,525
45,832
69,350
1,07,292
Total Assets
13,504
14,133
14,991
16,753
17,993
20,207
28,781
33,835
43,744
61,329
87,728
1,26,305
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-1,050
199
569
1,689
1,240
392
-672
-1,756
-4,409
-4,284
-5,151
-8,855
Investing
-459
-185
-234
-1,016
-1,360
-1,874
-5,147
46
1,851
-2,646
-4,562
202
Financing
1,409
2
-528
-959
1,056
1,349
5,772
1,916
3,535
7,219
10,689
8,056
Net Cash Flow
-99
16
-193
-286
936
-133
-47
206
977
288
976
-597
Free Cash Flow
-1,533
-159
300
1,221
836
11
-1,399
-2,256
-5,150
-5,471
-5,912
-9,417
CFO/OP
-179
90
125
683
227
64
-179
-132
-273
-321
-222
-367
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
25
42
40
40
39
50
60
43
33
28
30
33
Inventory Days
325
437
356
299
161
171
594
335
913
1,952
10,759
1,558
Days Payable
109
103
120
101
88
117
327
162
318
398
1,622
225
Cash Conversion Cycle
241
376
276
238
111
104
327
217
627
1,581
9,168
1,365
Working Capital Days
13
-37
-42
-137
-116
-85
-12
-15
-24
-36
17
10
ROCE %
5%
4%
8%
7%
11%
10%
5%
8%
8%
6%
8%
9%

Shareholding Pattern

As of Mar 2026
Promoters 74.64%
Others 13.44%
FIIs 4.47%
Public 3.97%
DIIs 3.48%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
67.19%
67.19%
67.18%
67.18%
67.18%
67.18%
67.17%
67.17%
67.17%
67.17%
67.16%
67.16%
67.16%
67.16%
67.69%
65.73%
69.65%
70.97%
71.31%
74.64%
74.64%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
8.96%
9.79%
10.41%
0.00%
10.39%
10.17%
7.93%
8.03%
8.38%
8.25%
6.97%
5.66%
5.12%
4.86%
4.47%
DIIs
5.07%
5.17%
3.76%
3.77%
3.26%
3.19%
2.28%
2.83%
2.13%
1.84%
2.35%
2.91%
4.86%
5.01%
4.76%
4.42%
2.50%
2.54%
2.77%
3.29%
3.48%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
5.87%
5.73%
6.35%
6.15%
6.32%
6.50%
6.26%
5.73%
5.82%
5.79%
5.43%
4.80%
5.17%
5.06%
4.44%
4.47%
4.07%
3.98%
3.97%
3.74%
3.97%
Others
21.87%
21.91%
22.71%
22.89%
23.24%
23.13%
15.33%
14.48%
14.47%
25.20%
14.67%
14.96%
14.88%
14.74%
14.74%
17.14%
16.81%
16.85%
16.83%
13.48%
13.44%
No. of Shareholders
87,357
87,381
95,264
89,890
95,100
98,455
1,05,570
94,918
96,476
92,342
91,441
94,147
90,399
95,338
87,922
85,797
87,744
84,610
82,219
81,889
84,014

Documents

Frequently Asked Questions about Godrej Industries Ltd

What does Godrej Industries Ltd do?
Godrej Industries is one of the holding companies of Godrej Group. It is one of the leading manufacturers of oleochemicals on a standalone basis. Godrej Industries is promoter of Godrej Agrovet Ltd and Godrej Properties Ltd. It also has stake in Godrej Consumer Products Ltd [1].
Where is Godrej Industries Ltd (GODREJIND) listed?
Godrej Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: GODREJIND and BSE: 500164. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Godrej Industries Ltd belong to?
Godrej Industries Ltd operates in the Diversified sector within the Diversified Group industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Godrej Industries Ltd?
Godrej Industries Ltd has a market capitalisation of approximately ₹38405.86 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Godrej Industries Ltd?
The Price-to-Earnings (PE) ratio of Godrej Industries Ltd is 31.52. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Godrej Industries Ltd?
Over the past 52 weeks, Godrej Industries Ltd has traded between a low of ₹744.2 and a high of ₹1,325. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Godrej Industries Ltd?
Godrej Industries Ltd has a Return on Equity (ROE) of 3.94%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Godrej Industries Ltd on Tapetide?
On Tapetide, you can view Godrej Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Godrej Industries is one of the holding companies of Godrej Group. It is one of the leading manufacturers of oleochemicals on a standalone basis. Godrej Industries is promoter of Godrej Agrovet Ltd and Godrej Properties Ltd. It also has stake in Godrej Consumer Products Ltd [1].

Website godrejindustries.com
CEO Mr. Nadir Burjorji Godrej B.S., M.S.
Employees 1,148
Listed 2003-02-25
Face Value ₹ 1
Issued Size 33,68,04,842

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