---
title: "Gujarat Borosil Ltd(Merged) (GUJBOROSIL) — Share Price, Financials & Analysis"
symbol: "GUJBOROSIL"
company: "Gujarat Borosil Ltd(Merged)"
canonical: "https://tapetide.com/stocks/GUJBOROSIL"
generated_at: "2026-10-13T10:58:01.443Z"
---

# Gujarat Borosil Ltd(Merged) (GUJBOROSIL)

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

## Company

- **Stock Type:** DELISTED
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** gujaratborosil.com

## About

Gujarat Borosil Limited is engaged in manufacturing flat glass. The Company is involved in manufacturing solar glass tempered or annealed glass, and patterned (figured) glass.

## Latest Price

## Key Insights

### Weaknesses

- Stock is trading at 6.70 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.5% over past five years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -165% | 10% | 14% |
| revenue growth | 14% | 6% | 11% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 50.05 | 40.62 | 49.86 | 52.78 | 54.8 | 49.26 | 56.48 | 48.89 | 62.13 | 43.82 | 57.9 | 75.18 |
| Expenses | 40.36 | 32.37 | 40.32 | 42.01 | 47.79 | 37.84 | 43.07 | 39.74 | 54.19 | 40.62 | 53.22 | 64.68 |
| Operating Profit | 9.69 | 8.25 | 9.54 | 10.77 | 7.01 | 11.42 | 13.41 | 9.15 | 7.94 | 3.2 | 4.68 | 10.5 |
| OPM % | 19.36 | 20.31 | 19.13 | 20.41 | 12.79 | 23.18 | 23.74 | 18.72 | 12.78 | 7.3 | 8.08 | 13.97 |
| Other Income | 6.51 | 0.11 | 0.14 | 0.73 | 0.57 | 0.69 | 1.13 | 0.57 | 1.05 | 0.47 | 0.55 | 0.57 |
| Interest | 2.43 | 3.02 | 3.44 | 3.13 | 4.18 | 3.23 | 3.87 | 2.92 | 3.28 | 2.45 | 4.63 | 6.95 |
| Depreciation | 3.31 | 3.44 | 4.44 | 4.45 | 4.35 | 4.4 | 4.52 | 4.55 | 4.42 | 4.26 | 6.74 | 9.11 |
| Profit before tax | 10.46 | 1.9 | 1.8 | 3.92 | -0.95 | 4.48 | 6.15 | 2.25 | 1.29 | -3.04 | -6.14 | -4.99 |
| Tax % | 37.95 | 68.95 | 43.89 | 43.11 | -424.21 | 27.23 | 13.66 | 73.78 | 29.46 | -32.24 | -26.06 | -29.46 |
| Net Profit | 6.49 | 0.6 | 1.01 | 2.24 | 3.07 | 3.25 | 5.32 | 0.59 | 0.92 | -2.07 | -4.53 | -3.52 |
| EPS in Rs | 0.95 | 0.09 | 0.15 | 0.33 | 0.45 | 0.48 | 0.78 | 0.09 | 0.13 | -0.3 | -0.66 | -0.52 |

### Profit & Loss

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

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 92 | 79 | 94 | 131 | 150 | 182 | 182 | 197 | 216 | 239 |
| Expenses | 99 | 86 | 88 | 103 | 127 | 144 | 139 | 161 | 173 | 213 |
| Operating Profit | -8 | -7 | 5 | 28 | 23 | 37 | 42 | 36 | 43 | 26 |
| OPM % | -9 | -9 | 6 | 21 | 15 | 21 | 23 | 18 | 20 | 11 |
| Other Income | 2 | 2 | 1 | 5 | -5 | 1 | 6 | 1 | 3 | 3 |
| Interest | 9 | 12 | 4 | 3 | 3 | 13 | 12 | 14 | 14 | 17 |
| Depreciation | 13 | 14 | 15 | 16 | 13 | 14 | 14 | 17 | 18 | 25 |
| Profit before tax | -28 | -31 | -12 | 13 | 2 | 12 | 22 | 7 | 14 | -13 |
| Tax % | -31 | -32 | -34 | 36 | 31 | 37 | 36 | -4 | 29 | — |
| Net Profit | -19 | -21 | -8 | 8 | 2 | 8 | 14 | 7 | 10 | -9 |
| EPS in Rs | -2.77 | -3.1 | -1.17 | 1.22 | 0.22 | 1.1 | 2.09 | 1.01 | 1.48 | -1.35 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 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 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 |
| Reserves | 45 | 26 | 5 | -3 | 5 | 6 | 14 | 28 | 10 | 19 |
| Borrowings | 77 | 112 | 137 | 147 | 137 | 122 | 104 | 114 | 140 | 302 |
| Other Liabilities | 36 | 18 | 16 | 21 | 22 | 19 | 32 | 44 | 43 | 58 |
| Total Liabilities | 191 | 190 | 191 | 199 | 198 | 181 | 184 | 221 | 227 | 412 |
| Fixed Assets | 125 | 121 | 119 | 123 | 118 | 108 | 104 | 94 | 126 | 116 |
| CWIP | 7 | 6 | 1 | 3 | 2 | 3 | 2 | 37 | 1 | 128 |
| Investments | 3 | 0 | 0 | 3 | 1 | 3 | 15 | 0 | 31 | 41 |
| Other Assets | 56 | 62 | 71 | 70 | 77 | 68 | 63 | 89 | 69 | 127 |
| Total Assets | 191 | 190 | 191 | 199 | 198 | 181 | 184 | 221 | 227 | 412 |

### 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 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3 | -31 | -6 | 16 | 17 | 22 | 35 | 26 | 55 | 7 |
| Cash from Investing Activity | -73 | 2 | -7 | -23 | -3 | -5 | -21 | -24 | -45 | -160 |
| Cash from Financing Activity | 69 | 27 | 13 | 7 | -13 | -18 | -13 | -2 | -11 | 154 |
| Net Cash Flow | -1 | -2 | 0 | 0 | 1 | -1 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -74 | -39 | -13 | -4 | 12 | 18 | 25 | -14 | 41 | -148 |
| CFO/OP | 96 | 382 | 79 | 288 | 64 | 94 | 93 | 72 | 170 | 26 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 37 | 62 | 73 | 67 | 64 | 52 | 50 | 54 | 45 | 41 |
| Inventory Days | 246 | 388 | 337 | 320 | 380 | 202 | 148 | 238 | 162 | 242 |
| Days Payable | 336 | 228 | 191 | 218 | 172 | 101 | 77 | 84 | 77 | 67 |
| Cash Conversion Cycle | -53 | 222 | 219 | 168 | 273 | 153 | 121 | 208 | 131 | 216 |
| Working Capital Days | 124 | -177 | 128 | 55 | 59 | 46 | 35 | 43 | -161 | 45 |
| ROCE % | 0 | -12 | -11 | -5 | 7 | 6 | 16 | 21 | 13 | 10 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Dec 2019 |
| --- | --- | --- | --- | --- |
| Promoters | 74.95% | 74.95% | 74.95% | 74.95% |
| DIIs | 0.07% | 0.07% | 0.07% | 0.07% |
| Public | 24.98% | 24.98% | 24.98% | 24.97% |
| No. of Shareholders | 48628 | 31810 | 32307 | 31135 |

### Quarterly

| Category | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% |
| DIIs | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.98% | 24.97% |
| No. of Shareholders | 48628 | 49171 | 49041 | 31876 | 31810 | 31693 | 32032 | 32043 | 32307 | 31898 | 31678 | 31135 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 39.02 | Sell |
| EMA (10) | 39.11 | Sell |
| SMA (20) | 41.97 | Sell |
| EMA (20) | 41.26 | Sell |
| SMA (50) | 45.85 | Sell |
| EMA (50) | 44.91 | Sell |
| SMA (100) | 49.09 | Sell |
| EMA (100) | 48.32 | Sell |
| SMA (200) | 53.43 | Sell |
| EMA (200) | 53.58 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 34.67 | Neutral |
| MACD (12,26,9) | -2.64 | Sell |
| Stochastic (14,3,3) | 5.82 | Buy |
| ADX (14) | 22.96 | Neutral |
| Williams %R (14) | -99.5 | Buy |
| ATR (14) | 3.2 | High Volatility |
| ROC (12) | -11.12 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 29.71 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2020-02-18 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f220a656-f3d9-4f7d-bca8-8eb52eddaf2a.pdf) |
| 2020-02-18 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f220a656-f3d9-4f7d-bca8-8eb52eddaf2a.pdf) |
| 2020-02-05 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2b4f8e17-5dbf-43b0-93fc-58abb3416b89.pdf) |
| 2020-02-05 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2b4f8e17-5dbf-43b0-93fc-58abb3416b89.pdf) |
| 2020-02-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7e1ccc7d-b9de-4af3-920e-e61b45ec0b2a.pdf) |
| 2020-02-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7e1ccc7d-b9de-4af3-920e-e61b45ec0b2a.pdf) |
| 2020-02-03 | [Outcome Of Board Meeting Held On February 03, 2020 - Other Than Results - Intimation Of 'Record Date 1'](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=29a15737-e326-4053-99cb-76aceadbacc8.pdf) |
| 2020-02-03 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=defc5cf5-440e-4c28-99ff-2b5a930f3525.pdf) |
| 2020-02-03 | [Outcome Of Board Meeting Held On February 03, 2020 - Other Than Results - Intimation Of 'Record Date 1'](https://www.bseindia.com/xml-data/corpfiling/AttachHis/29a15737-e326-4053-99cb-76aceadbacc8.pdf) |
| 2020-02-03 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/defc5cf5-440e-4c28-99ff-2b5a930f3525.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2019 | [Annual Report 2019](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680319.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680311.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/523768/5237680310.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2020 | [Concall - Feb 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f220a656-f3d9-4f7d-bca8-8eb52eddaf2a.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b0a2ad5a-5c16-43e0-b0ae-fa942c6782a7.pdf) |
| Aug 2019 | [Concall - Aug 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e509fc6-75fb-417a-ba17-e09f63c8ac3e.pdf) |
| May 2019 | [Concall - May 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8866e409-9bb5-47b5-b462-74f4456f30ff.pdf) |
| Feb 2019 | [Concall - Feb 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d2e78f3c-811f-45e3-9426-7c0a154e674b.pdf) |
| Nov 2018 | [Concall - Nov 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1c18dc0b-c7d9-4b96-b835-567c5790d39a.pdf) |
| Aug 2018 | [Concall - Aug 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3e022d32-4631-4266-8669-7ce7c10d6c63.pdf) |
| Jun 2018 | [Concall - Jun 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=72c14ea7-2edf-4d54-90d9-51703aeeb02c.pdf) |
| May 2018 | [Concall - May 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2e4bf24b-3ced-4000-b6b1-bd29c95e1616.pdf) |
| Feb 2018 | [Concall - Feb 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7fd829c7-48b0-41b1-a759-01ee3844f9bb.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2020-02-03 | Credit rating update — India Ratings |
| 2019-09-05 | Credit rating update — India Ratings |
| 2018-09-06 | Credit rating update — India Ratings |
| 2018-06-27 | Credit rating update — India Ratings |
| 2017-09-28 | Credit rating update — India Ratings |
| 2016-10-07 | Credit rating update — India Ratings |

---

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 2026-10-13T10:58:01.443Z.