Gratex Industries
GRATEXINDUSTRIESLTD NSE
Gratex Industries
Forest MaterialsNSE: GRATEXINDUSTRIESLTD BSE: 526751 Paper & Paper Products
Key Fundamentals
MicrocapPaper & Paper ProductsForest MaterialsMarket Cap
₹6.40 Cr
Volatility
Low Risk
P/E Ratio
48.3
EBITDA
₹0.30 Cr
Return on Equity
2.94%
Debt to Equity
0.05
Book Value
₹12.37
EPS
₹0.23
52W High
₹28.06
52W Low
₹16.47
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
3- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 2.89% over last 3 years.
- Debtor days have increased from 63.9 to 88.9 days.
Growth Rate
Revenue Growth
13.16% higher than
3Y
Net Income Growth
0% higher than
3Y
Cash Flow Change
-61.9% lower than
3Y
ROE
50% higher than
3Y
ROCE
41.4% higher than
3Y
EBITDA Margin (Avg.)
0.27% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1.05 | 0.96 | 1.05 | 0.94 | 1.01 | 1.04 | 1.01 | 0.7 | 0.91 | 1.11 | 0.99 | 1.27 | 1.25 |
| Expenses | 0.97 | 0.92 | 0.99 | 0.86 | 0.96 | 0.99 | 0.91 | 0.64 | 0.85 | 1.04 | 0.92 | 1.16 | 1.15 |
| Operating Profit | 0.08 | 0.04 | 0.06 | 0.08 | 0.05 | 0.05 | 0.1 | 0.06 | 0.06 | 0.07 | 0.07 | 0.11 | 0.1 |
| OPM % | 7.62% | 4.17% | 5.71% | 8.51% | 4.95% | 4.81% | 9.9% | 8.57% | 6.59% | 6.31% | 7.07% | 8.66% | 8% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 |
| Depreciation | 0.03 | 0.03 | 0.04 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 |
| PBT | 0.05 | 0.01 | 0.02 | 0.05 | 0.01 | 0.01 | 0.06 | 0.02 | 0.03 | 0.04 | 0.04 | 0.06 | 0.06 |
| Tax % | 20% | 0% | 50% | 20% | 0% | 0% | 33.33% | 50% | 33.33% | 25% | 25% | 50% | 16.67% |
| Net Profit | 0.03 | 0 | 0.02 | 0.03 | 0.01 | 0 | 0.05 | 0.01 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 |
| EPS in Rs | 0.1 | 0 | 0.07 | 0.1 | 0.03 | 0 | 0.16 | 0.03 | 0.07 | 0.1 | 0.1 | 0.13 | 0.13 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.8 | 1.26 | 1.21 | 1.99 | 3.35 | 3.47 | 1.86 | 3.02 | 4.26 | 3.99 | 3.75 | 4.27 | 4.62 |
| Expenses | 0.61 | 0.92 | 0.92 | 1.61 | 3.08 | 3.09 | 1.72 | 2.74 | 3.9 | 3.7 | 3.45 | 3.96 | 4.27 |
| Operating Profit | 0.19 | 0.34 | 0.29 | 0.38 | 0.27 | 0.38 | 0.14 | 0.28 | 0.36 | 0.29 | 0.3 | 0.31 | 0.35 |
| OPM % | 23.75% | 26.98% | 23.97% | 19.1% | 8.06% | 10.95% | 7.53% | 9.27% | 8.45% | 7.27% | 8% | 7.26% | 7.58% |
| Other Income | -0.25 | -0.32 | 0.01 | 0.02 | 0 | 0 | 0.03 | 0 | 0 | -0.02 | -0.03 | 0 | 0 |
| Interest | 0 | 0 | 0.01 | 0.01 | 0.04 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
| Depreciation | 0.14 | 0.11 | 0.1 | 0.1 | 0.16 | 0.13 | 0.11 | 0.12 | 0.13 | 0.13 | 0.16 | 0.14 | 0.13 |
| PBT | -0.2 | -0.09 | 0.19 | 0.29 | 0.07 | 0.23 | 0.04 | 0.14 | 0.22 | 0.13 | 0.1 | 0.16 | 0.2 |
| Tax % | -15% | -11.11% | 0% | 24.14% | -14.29% | 26.09% | 25% | 28.57% | 18.18% | 23.08% | 30% | 31.25% | — |
| Net Profit | -0.17 | -0.08 | 0.19 | 0.22 | 0.07 | 0.16 | 0.02 | 0.1 | 0.19 | 0.09 | 0.07 | 0.11 | 0.14 |
| EPS in Rs | -0.56 | -0.26 | 0.63 | 0.72 | 0.23 | 0.53 | 0.07 | 0.33 | 0.63 | 0.3 | 0.23 | 0.36 | 0.46 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 |
| Reserves | -0.46 | -0.54 | -0.34 | -0.11 | -0.11 | 0.05 | 0.09 | 0.19 | 0.38 | 0.47 | 0.61 | 0.72 |
| Borrowings | 0.04 | 0.04 | 0.06 | 0.46 | 0.15 | 0.11 | 0.09 | 0.12 | 0.06 | 0.08 | 0.05 | 0.17 |
| Other Liabilities | 0.12 | 0.09 | 0.1 | 0.3 | 0.35 | 0.35 | 0.28 | 0.47 | 0.64 | 0.62 | 0.4 | 0.79 |
| Total Liabilities | 2.73 | 2.62 | 2.85 | 3.68 | 3.42 | 3.54 | 3.49 | 3.81 | 4.11 | 4.2 | 4.09 | 4.71 |
| Fixed Assets | 0.93 | 0.86 | 0.83 | 1.24 | 1.18 | 1.08 | 0.98 | 1.01 | 1.08 | 1.03 | 1.04 | 1.09 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1.8 | 1.76 | 2.02 | 2.44 | 2.24 | 2.46 | 2.51 | 2.8 | 3.03 | 3.17 | 3.05 | 3.62 |
| Total Assets | 2.73 | 2.62 | 2.85 | 3.68 | 3.42 | 3.54 | 3.49 | 3.81 | 4.11 | 4.2 | 4.09 | 4.71 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0.14 | 0.05 | 0.02 | 0.07 | 0.48 | 0.1 | 0.04 | 0.15 | 0.26 | 0.06 | 0.21 | 0.08 |
| Investing | -0.03 | -0.04 | -0.06 | -0.5 | -0.1 | -0.04 | 0 | -0.15 | -0.19 | -0.08 | -0.17 | -0.18 |
| Financing | -0.12 | 0 | 0.02 | 0.4 | -0.35 | -0.06 | -0.03 | 0.01 | -0.07 | 0.02 | -0.04 | 0.1 |
| Net Cash Flow | 0 | 0 | -0.02 | -0.03 | 0.02 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 0.11 | 0.01 | -0.04 | -0.43 | 0.38 | 0.06 | 0.03 | 0 | 0.07 | -0.02 | 0.04 | -0.1 |
| CFO/OP | 74 | 15 | 7 | 37 | 196 | 32 | 79 | 71 | 86 | 24 | 83 | 39 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 468 | 292 | 173 | 160 | 186 | 95.48 | 77.11 | 67.69 | 35.04 | 88.9 |
| Inventory Days | — | — | 1,663 | 534 | 164 | 257 | 859 | 558 | 345 | 479 | 582 | 423 |
| Days Payable | — | — | 0 | 94.63 | 39.01 | 40.21 | 91.25 | 91.25 | 71.8 | 71.1 | 48.5 | 93.19 |
| Cash Conversion Cycle | 0 | 0 | 2,130 | 731 | 299 | 376 | 954 | 562 | 350 | 475 | 569 | 419 |
| Working Capital Days | 607 | 472 | 564 | 315 | 207 | 227 | 387 | 243 | 180 | 208 | 229 | 214 |
| ROCE % | 1.73% | 8.95% | 7.58% | 9.79% | 3.41% | 7.99% | 1.88% | 4.89% | 6.75% | 4.54% | 3.85% | 4.47% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Gratex Industries insights
61 extracted metrics + investor summaries across FY10–FY26.
Documents
1
Waiver Request Approved For SOP Fines Levied
29 Apr - BSE fully waived Gratex’s SOP fine for FY25 investor grievance disclosure lapse. 29 Apr - BSE fully waived Gratex’s SOP fine for FY25 investor grievance disclosure lapse.
2
Waiver Request Approved For SOP Fines Levied
29 Apr - BSE fully waived Gratex’s SOP fine for FY25 investor grievance disclosure lapse. 29 Apr - BSE fully waived Gratex’s SOP fine for FY25 investor grievance disclosure lapse.
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
13 Apr - Gratex Industries confirms it is not a Large Corporate; outstanding borrowings were Rs. 0.17 crore on 31 March 2026. 13 Apr - Gratex Industries confirms it is not a Large Corporate; outstanding borrowings were Rs. 0.17 crore on 31 March 2026.
4
Compliances-Reg.24(A)-Annual Secretarial Compliance
8 Apr - Gratex Industries says Annual Secretarial Compliance Report is not applicable for FY ended 31 March 2026. 8 Apr - Gratex Industries says Annual Secretarial Compliance Report is not applicable for FY ended 31 March 2026.
5
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Regulation 74(5) depository compliance certificate filed for quarter ended 31 March 2026. 8 Apr - Regulation 74(5) depository compliance certificate filed for quarter ended 31 March 2026.
Frequently Asked Questions about Gratex Industries
What does Gratex Industries Ltd do?
Incorporated in 1995, Gratex Industries Ltd manufactures Paper & Paper Products.[1]
Where is Gratex Industries Ltd (526751) listed?
Gratex Industries Ltd trades as GRATEXINDUSTRIESLTD on the NSE and under code 526751 on the BSE.
Which sector does Gratex Industries Ltd belong to?
Gratex Industries Ltd is classified under the Forest Materials sector, in the Paper & Paper Products industry.
What is the market capitalisation of Gratex Industries Ltd?
Gratex Industries Ltd has a market capitalisation of ₹6.4 Cr, which places it in the Small Cap band.
What is the PE ratio of Gratex Industries Ltd?
Gratex Industries Ltd trades at a PE ratio of 48.30, on earnings per share of ₹0.23, against a book value of ₹12.37 per share.
What is the 52-week high and low of Gratex Industries Ltd?
Over the last 52 weeks Gratex Industries Ltd has traded between ₹16.47 and ₹28.06.
What is the Return on Equity (ROE) of Gratex Industries Ltd?
Gratex Industries Ltd reported a return on equity of 2.94%. Its debt-to-equity ratio is 0.05.
Company Information
Incorporated in 1995, Gratex Industries Ltd manufactures Paper & Paper Products.[1]
Website gratex.in
Face Value ₹ 10
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