---
title: "GSM Foils Ltd (GSMFOILS) — Share Price, Financials & Analysis"
symbol: "GSMFOILS"
company: "GSM Foils Ltd"
canonical: "https://tapetide.com/stocks/GSMFOILS"
isin: "INE0SQY01018"
nse_symbol: "GSMFOILS"
sector: "Industrial Products"
industry: "Packaging"
market_cap_cr: 121.34
generated_at: "2026-09-13T19:03:04.049Z"
---

# GSM Foils Ltd (GSMFOILS)

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

## Company

- **NSE Symbol:** GSMFOILS
- **ISIN:** INE0SQY01018
- **Sector:** Industrial Products
- **Industry:** Packaging
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2024-05-31
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** gsmfoils.com

## About

Incorporated in 2019, GSM Foils Ltd manufactures a broad array of Blister Foils and Aluminium Pharma Foils[1]

## Latest Price

- **Price:** ₹86.1
- **Change:** -4.5 (-4.97%)
- **Open:** ₹86.1
- **Day High:** ₹86.1
- **Day Low:** ₹86.1
- **Previous Close:** ₹90.6
- **Volume:** 44000
- **As Of:** 2026-09-11T09:58:19+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:30.235863Z.

- **Market Cap:** ₹121.34 Cr
- **Classification:** SME
- **P/E (reported):** 5.4
- **P/E (TTM):** 5.13
- **EPS (TTM):** ₹16.77
- **Book Value:** ₹52.84
- **Price to Book:** 1.71
- **Dividend Yield:** 0%
- **ROE:** 30.89%
- **ROCE:** 47.81%
- **Debt to Equity:** 0.59
- **Revenue (yearly):** ₹258.15 Cr
- **Net Income:** ₹19.86 Cr
- **EBITDA:** ₹29.78 Cr
- **52-Week High:** ₹293.85
- **52-Week Low:** ₹79.7
- **RSI (14):** 29.13

## Tapetide Score

- **Score:** 45 / 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: Fair · Momentum: Falling
- **Percentile:** 28.3 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 62.22 | 9% |
| growth | 98.9 | 9% |
| momentum | 4.4 | 12% |
| ownership | 50 | 24% |
| quality | 43.2 | 22% |
| valuation | 53.14 | 24% |

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

## Key Insights

### Strengths

- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.3%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -12.2%
- Debtor days have increased from 96.7 to 133 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 100% | 100% | -100% |
| ebitda margin growth | 21.87% | 1.23% | 74.28% | — |
| net income growth | 20.63% | 104.74% | — | — |
| revenue growth | 18.58% | 92.94% | 84.96% | — |
| roce | — | 122.48% | -59.24% | — |
| roe | — | 149.11% | 47.19% | — |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13.66 | 21 | 31.18 | 36.02 | 45.61 | 52 | 58.14 | 66.33 | 81.69 | 96.89 |
| Expenses | 12.81 | 18.85 | 27.98 | 31.97 | 39.81 | 46.18 | 51.5 | 58.45 | 72.26 | 85.38 |
| Operating Profit | 0.85 | 2.15 | 3.2 | 4.05 | 5.8 | 5.82 | 6.64 | 7.88 | 9.43 | 11.51 |
| OPM % | 6.22 | 10.24 | 10.26 | 11.24 | 12.72 | 11.19 | 11.42 | 11.88 | 11.54 | 11.88 |
| Other Income | 0 | 0 | 0 | 0 | 0.02 | 0.06 | 0.08 | 0.11 | 0.13 | 0.15 |
| Interest | 0.44 | 0.16 | 0.2 | 0.2 | 0.75 | 0.38 | 0.91 | 0.76 | 0.95 | 1.23 |
| Depreciation | 0.04 | 0.06 | 0.06 | 0.08 | 0.08 | 0.1 | 0.1 | 0.11 | 0.16 | 0.23 |
| Profit before tax | 0.37 | 1.93 | 2.94 | 3.77 | 4.99 | 5.4 | 5.71 | 7.12 | 8.45 | 10.2 |
| Tax % | 27.03 | 27.46 | 27.89 | 27.85 | 31.46 | 29.07 | 22.94 | 25.14 | 25.56 | 25.29 |
| Net Profit | 0.26 | 1.4 | 2.12 | 2.72 | 3.42 | 3.83 | 4.39 | 5.33 | 6.28 | 7.62 |
| EPS in Rs | 0.25 | 0.99 | 1.5 | 1.93 | 2.43 | 2.72 | 3.12 | 3.78 | 4.46 | 5.41 |

### Profit & Loss

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

| Item | Dec 2023 6m | Mar 2024 9m | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- |
| Sales | 27 | 41 | 134 | 258 | 303 |
| Expenses | 25 | 38 | 119 | 228 | 268 |
| Operating Profit | 2 | 3 | 15 | 30 | 35 |
| OPM % | 7 | 7 | 11 | 12 | 12 |
| Other Income | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 1 | 1 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 2 | 2 | 14 | 27 | 31 |
| Tax % | 25 | 26 | 29 | 26 | — |
| Net Profit | 1 | 1 | 10 | 20 | 24 |
| EPS in Rs | — | 1.33 | 6.84 | 14.08 | 16.77 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Dec 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Equity Capital | 0.02 | 9 | 13 | 14 |
| Reserves | 1 | 2 | 18 | 60 |
| Borrowings | 14 | 5 | 18 | 44 |
| Other Liabilities | 7 | 4 | 12 | 46 |
| Total Liabilities | 22 | 20 | 61 | 165 |
| Fixed Assets | 1 | 1 | 2 | 5 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 3 | 10 |
| Other Assets | 21 | 19 | 56 | 150 |
| Total Assets | 22 | 20 | 61 | 165 |

### Cash Flow

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

| Item | Dec 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | -2 | -14 | 0 | -37 |
| Cash from Investing Activity | 0 | -1 | 0 | -10 |
| Cash from Financing Activity | 3 | 15 | 0 | 47 |
| Net Cash Flow | 0 | 0 | 0 | 0 |
| Free Cash Flow | -2 | -15 | 0 | -40 |
| CFO/OP | -114 | -495 | 0 | -124 |

### Ratios

| Item | Dec 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Debtor Days | 94 | 65 | 92 | 133 |
| Inventory Days | 188 | 113 | 62 | 78 |
| Days Payable | 92 | 29 | 24 | 61 |
| Cash Conversion Cycle | 190 | 149 | 130 | 151 |
| Working Capital Days | 1 | 96 | 70 | 83 |
| ROCE % | — | — | 46 | 35 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 99.99% | 73.14% | 73.14% | 73.14% | 73.14% | 66.49% | 66.54% | 66.54% | 66.54% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 1.16% | 1.82% | 1.82% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 21.05% | 22.75% | 22.98% | 24.15% | 27.88% | 27.76% | 27.28% | 27.28% |
| Others | 0.01% | 5.81% | 4.11% | 3.87% | 2.71% | 5.63% | 4.54% | 4.36% | 4.36% |
| No. of Shareholders | 8 | 450 | 531 | 521 | 730 | 1150 | 1375 | 1360 | 1360 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 7 / 1 / 11

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 108.24 | Sell |
| EMA (10) | 101.52 | Sell |
| SMA (20) | 103.11 | Sell |
| EMA (20) | 112.23 | Sell |
| SMA (50) | 170.46 | Sell |
| EMA (50) | 147.26 | Sell |
| SMA (100) | 189.76 | Sell |
| EMA (100) | 172.86 | Sell |
| SMA (200) | 196.4 | Sell |
| EMA (200) | 183.97 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 27.59 | Buy |
| MACD (12,26,9) | -16.91 | Buy |
| Stochastic (14,3,3) | 7.42 | Buy |
| ADX (14) | 37.27 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 7.73 | High Volatility |
| ROC (12) | -19.31 | Sell |
| Stoch RSI (14) | 7.61 | Buy |
| UO (7,14,28) | 15.03 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - August 2026 net sales fell 43.56% YoY to Rs. 10.71 crore; April-August sales were Rs. 131.78 crore. | [Monthly Business Updates 9 Sep - August 2026 net sales fell 43.56% YoY to Rs. 10.71 crore; April-August sales were Rs. 131.78 crore.](https://nsearchives.nseindia.com/corporate/GSMFOILS_09092026165408_Monthly_Update_August_signed.pdf) |
| 9 April 2026 - Annual promoter-group encumbrance disclosure under SEBI Regulation 31(4) for FY ended March 31, 2026. | [Disclosure under SEBI Takeover Regulations 9 April 2026 - Annual promoter-group encumbrance disclosure under SEBI Regulation 31(4) for FY ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_07042026125332_GSM.pdf) |
| 8 May 2026 - GSM Foils submitted FY26 SDD compliance certificate; no non-compliance observed. | [Structural Digital Database 8 May 2026 - GSM Foils submitted FY26 SDD compliance certificate; no non-compliance observed.](https://nsearchives.nseindia.com/corporate/GSMFOILS_08052026190009_GSMSDDCertificateMarch2026Signed.pdf) |
| 7 Aug - Regarding update on health of Mr. Mohansingh Parmar, Managing Director of the Company'. | [Updates 7 Aug - Regarding update on health of Mr. Mohansingh Parmar, Managing Director of the Company'.](https://nsearchives.nseindia.com/corporate/GSMFOILS_07082026130151_GSMIntimationasperReg3007082026.pdf) |
| 6 March 2026 - February 2026 net sales Rs256,759,665; 78.08% YoY growth; YTD April-February Rs2,297,133,766. | [Monthly Business Updates 6 March 2026 - February 2026 net sales Rs256,759,665; 78.08% YoY growth; YTD April-February Rs2,297,133,766.](https://nsearchives.nseindia.com/corporate/GSMFOILS_06032026142947_GSMMonthlySalesUpdatebyListedCompanyFeb2026Signed.pdf) |
| 6 February 2026 - Released Q3/9M-FY26 transcript; Q3 revenue Rs66.33cr, PAT Rs5.33cr; Ahmedabad plant operational, >10,000 MT capacity. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 February 2026 - Released Q3/9M-FY26 transcript; Q3 revenue Rs66.33cr, PAT Rs5.33cr; Ahmedabad plant operational, >10,000 MT capacity.](https://nsearchives.nseindia.com/corporate/GSMFOILS_06022026122841_GSMTranscript02022026Signed.pdf) |
| 6 Aug - GSM Foils Limited has informed regarding Monthly Business Updates for the month of July 2026 | [Monthly Business Updates 6 Aug - GSM Foils Limited has informed regarding Monthly Business Updates for the month of July 2026](https://nsearchives.nseindia.com/corporate/GSMFOILS_06082026110829_GSMMonthlySalesUpdatebyListedCompanyJuly2027.pdf) |
| 5 May 2026 - April 2026 net sales rose 66.75% to Rs. 27.03 crore; receivables were Rs. 73.61 crore. | [Monthly Business Updates 5 May 2026 - April 2026 net sales rose 66.75% to Rs. 27.03 crore; receivables were Rs. 73.61 crore.](https://nsearchives.nseindia.com/corporate/GSMFOILS_05052026124311_GSMMonthlySalesUpdatebyListedCompanyApril2026Signed.pdf) |
| 5 Aug - GSM Foils Limited has informed regarding 'Clarification on Price Movement in the Equity Shares of GSM Foils Limited'. | [Updates 5 Aug - GSM Foils Limited has informed regarding 'Clarification on Price Movement in the Equity Shares of GSM Foils Limited'.](https://nsearchives.nseindia.com/corporate/GSMFOILS_05082026123136_GSMPriceMovement.pdf) |
| 31 July 2026 - Pratik M. Makwana resigned as Company Secretary and Compliance Officer effective 30 July 2026. | [Resignation 31 July 2026 - Pratik M. Makwana resigned as Company Secretary and Compliance Officer effective 30 July 2026.](https://nsearchives.nseindia.com/corporate/GSMFOILS_31072026124124_CSPratikMakwanaResignationLetter.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/GSMFOILS_12112025161726_GSMFoilsLtdEarningCallTranscriptQ2H1FY2612112025Signed.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/GSMFOILS_13052025144309_GSM_Foils_Ltd_Transcript.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/GSMFOILS_19072025140242_GSM_Investor_Presentation_Signed.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/GSMFOILS_19072025140636_GSM_Investor_Presentation_Signed.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/GSMFOILS_25072025111024_GSM_Transcript_Earning_Conference_Call_Signed.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://nsearchives.nseindia.com/corporate/GSMFOILS_20082024155937_GSMInvestorPresentation02082024.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28335_GSMFOILS_2024_2025_A_3420764_03092025192916.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25726_GSMFOILS_2023_2024_04092024191524.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 2026-09-13T19:03:04.049Z.