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Last Updated: April 2, 2026, 4:39 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 530615 | NSE: GARGFUR

Garg Furnace Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹127.71Fairly Valued by 5.40%vs CMP ₹135.00

P/E (8.4) × ROE (13.7%) × BV (₹136.00) × DY (2.00%)

₹166.46Undervalued by 23.30%vs CMP ₹135.00
MoS: +18.9% (Adequate)Confidence: 49/100 (Moderate)Models: 5 Under, 2 Fair, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹131.8125%Fair (-2.4%)
Graham NumberEarnings₹237.7418%Under (+76.1%)
Earnings PowerEarnings₹75.9812%Over (-43.7%)
DCFCash Flow₹201.5715%Under (+49.3%)
Net Asset ValueAssets₹136.478%Fair (+1.1%)
EV/EBITDAEnterprise₹174.6210%Under (+29.3%)
Earnings YieldEarnings₹184.708%Under (+36.8%)
Revenue MultipleRevenue₹192.236%Under (+42.4%)
Consensus (8 models)₹166.46100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 3.2%

*Investments are subject to market risks

Investment Snapshot

64
Garg Furnace Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health64/100 · Moderate
ROCE 13.5% GoodROE 13.7% GoodD/E 0.78 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 53.4% Stable
Earnings Quality50/100 · Moderate
OPM stable around 3% Steady
Quarterly Momentum80/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +53% YoY Strong
Industry Rank75/100 · Strong
P/E 8.4 vs industry 8.4 In-lineROCE 13.5% vs industry 7.5% Above peersROE 13.7% vs industry 8.0% Above peers3Y sales CAGR: 14% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Garg Furnace Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 8.4 vs Ind 8.4 | ROCE 13.5% | ROE 13.7% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.78x | IntCov 0.0x | Current 0.85x | Borrow/Reserve 0.01x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹8 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
+89
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +50.5% | Q NP +34.3% | Q OPM -0.7 pp
Derived FieldValueHow it is derived
Valuation Gap %+23.3%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.01xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-9Latest shareholder count minus previous count
Quarterly Sales Change+50.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+34.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-0.7 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:39 am

Market Cap 92.0 Cr.
Current Price 135
Intrinsic Value₹166.46
High / Low 266/115
Stock P/E8.40
Book Value 136
Dividend Yield0.00 %
ROCE13.5 %
ROE13.7 %
Face Value 10.0
PEG Ratio2.62

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Garg Furnace Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Garg Furnace Ltd 92.0 Cr. 135 266/1158.40 1360.00 %13.5 %13.7 % 10.0
Monind Ltd 10.9 Cr. 29.5 31.0/22.2 1490.00 %%% 10.0
Gopal Iron & Steels Co.(Gujarat) Ltd 6.68 Cr. 13.6 14.3/5.50 1.850.00 %1.40 %2.22 % 10.0
Industry Average0 Cr59.378.4095.620.00%7.45%7.96%10.00

All Competitor Stocks of Garg Furnace Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 53.3862.3561.7561.7565.4071.0262.3362.1662.9774.1660.1561.3892.39
Expenses 52.5158.1060.8360.8363.3468.9260.4761.0960.7771.6058.6858.2788.35
Operating Profit 0.874.250.920.922.062.101.861.072.202.561.473.114.04
OPM % 1.63%6.82%1.49%1.49%3.15%2.96%2.98%1.72%3.49%3.45%2.44%5.07%4.37%
Other Income 0.060.040.030.030.081.170.130.110.301.160.230.090.11
Interest 0.040.060.050.050.040.040.030.030.030.020.020.020.03
Depreciation 0.360.380.380.380.400.400.390.410.420.420.430.440.44
Profit before tax 0.533.850.520.521.702.831.570.742.053.281.252.743.68
Tax % 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%
Net Profit 0.533.850.510.511.702.831.560.742.053.281.252.743.68
EPS in Rs 1.329.601.271.274.246.143.381.614.096.552.504.025.40

Last Updated: March 3, 2026, 9:40 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:40 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 14814690546611299119179238258262288
Expenses 139139956570118105119171231253254277
Operating Profit 98-5-11-4-6-60775811
OPM % 6%5%-5%-21%-7%-5%-7%0%4%3%2%3%4%
Other Income 110051312-300222
Interest 8871111000000
Depreciation 1111111111222
Profit before tax 10-13-14-154-5666811
Tax % 29%-80%0%0%-91%0%0%1%0%0%0%0%
Net Profit 11-13-14-054-5666811
EPS in Rs 2.341.35-33.00-33.80-0.3212.758.93-11.7515.7714.8212.0615.2518.47
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%-1400.00%-7.69%100.00%-20.00%-225.00%220.00%0.00%0.00%33.33%
Change in YoY Net Profit Growth (%)0.00%-1400.00%1392.31%107.69%-120.00%-205.00%445.00%-220.00%0.00%33.33%

Garg Furnace Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:22%
3 Years:14%
TTM:0%
Compounded Profit Growth
10 Years:30%
5 Years:25%
3 Years:6%
TTM:11%
Stock Price CAGR
10 Years:34%
5 Years:66%
3 Years:66%
1 Year:-51%
Return on Equity
10 Years:-9%
5 Years:18%
3 Years:18%
Last Year:14%

Last Updated: September 5, 2025, 3:31 pm

Balance Sheet

Last Updated: December 4, 2025, 2:55 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4444444444557
Reserves 272714005941117445786
Borrowings 43547575733998105211
Other Liabilities 3764191251025282533111418
Total Liabilities 111148112928258484450596178112
Fixed Assets 15252322212019141515141414
CWIP 5000000000000
Investments 22322000000437
Other Assets 891218667593829293543465962
Total Assets 111148112928258484450596178112

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 116-18-133123308-134
Cash from Investing Activity + -5-720-03-0-0-2-4-0-5
Cash from Financing Activity + -6315-1-1-35-23-22-6196
Net Cash Flow -12-2-22-2-011-154
Free Cash Flow 5-1-18-1233233-26-142
CFO/OP 115%81%395%10%-64%-516%-355%2,164%6%118%-267%45%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-34.00-46.00-80.00-86.00-77.00-45.00-15.00-8.00-3.002.003.007.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 13921217123712935353321273232
Inventory Days 393950238271444141281226
Days Payable 9117768722825282518161412
Cash Conversion Cycle 877415318818481514944393047
Working Capital Days 1325-73-258-200-35-19-18433340
ROCE %12%10%-6%-15%-1%-9%-17%-6%32%24%15%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 64.23%64.23%64.23%64.23%68.86%68.89%49.36%56.85%53.41%53.41%53.41%53.41%
Public 35.75%35.75%35.76%35.76%31.13%31.11%50.63%43.16%46.59%46.59%46.60%46.59%
No. of Shareholders 1,9211,9701,9031,9282,0252,0622,7523,0433,1333,1713,2163,207

Shareholding Pattern Chart

No. of Shareholders

Garg Furnace Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 15.8813.8414.8215.77-11.74
Diluted EPS (Rs.) 14.1611.6014.8215.77-11.74
Cash EPS (Rs.) 18.5315.4718.3419.11-8.05
Book Value[Excl.RevalReserv]/Share (Rs.) 124.28105.6951.6336.7521.15
Book Value[Incl.RevalReserv]/Share (Rs.) 124.28105.6951.6336.7521.15
Revenue From Operations / Share (Rs.) 522.32559.87594.32445.52297.73
PBDIT / Share (Rs.) 18.7515.8518.7419.670.83
PBIT / Share (Rs.) 15.4712.4415.2116.33-2.85
PBT / Share (Rs.) 15.2412.0614.8215.77-11.58
Net Profit / Share (Rs.) 15.2412.0614.8215.77-11.74
PBDIT Margin (%) 3.582.833.154.410.28
PBIT Margin (%) 2.962.222.553.66-0.95
PBT Margin (%) 2.912.152.493.54-3.88
Net Profit Margin (%) 2.912.152.493.54-3.94
Return on Networth / Equity (%) 12.2611.4128.6942.91-55.49
Return on Capital Employeed (%) 12.1511.4024.3827.35-7.43
Return On Assets (%) 9.809.1110.1012.68-10.71
Long Term Debt / Equity (X) 0.020.020.190.610.78
Total Debt / Equity (X) 0.020.030.220.690.78
Asset Turnover Ratio (%) 3.774.314.393.812.60
Current Ratio (X) 3.913.981.161.170.85
Quick Ratio (X) 2.773.260.690.510.45
Inventory Turnover Ratio (X) 21.9922.3411.739.388.82
Interest Coverage Ratio (X) 84.6041.3947.2835.100.95
Interest Coverage Ratio (Post Tax) (X) 69.7932.4938.3829.15-3.45
Enterprise Value (Cr.) 72.00148.9517.8322.9815.07
EV / Net Operating Revenue (X) 0.270.570.070.120.12
EV / EBITDA (X) 7.6720.392.372.9244.98
MarketCap / Net Operating Revenue (X) 0.310.600.060.080.08
Price / BV (X) 1.343.200.791.021.17
Price / Net Operating Revenue (X) 0.310.600.060.080.08
EarningsYield 0.090.030.360.41-0.47

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Garg Furnace Ltd. is a Public Limited Listed company incorporated on 27/12/1973 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L99999PB1973PLC003385 and registration number is 003385. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 261.61 Cr. and Equity Capital is Rs. 5.01 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Metals - FerrousKanganwal Road, V P O Jugiana, Ludhiana Punjab 141120Contact not found
Management
NamePosition Held
Mr. Devinder GargChairman & Managing Director
Mr. Toshak GargManaging Director
Mrs. Vaneera GargWhole Time Director
Mrs. Amardeep KaurIndependent Director
Mrs. Shruti GuptaIndependent Director
Mrs. Mehak JainIndependent Director

FAQ

What is the intrinsic value of Garg Furnace Ltd and is it undervalued?

As of 05 April 2026, Garg Furnace Ltd's intrinsic value is ₹166.46, which is 23.30% higher than the current market price of ₹135.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (13.7 %), book value (₹136), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Garg Furnace Ltd?

Garg Furnace Ltd is trading at ₹135.00 as of 05 April 2026, with a FY2026-2027 high of ₹266 and low of ₹115. The stock is currently near its 52-week low. Market cap stands at ₹92.0 Cr..

How does Garg Furnace Ltd's P/E ratio compare to its industry?

Garg Furnace Ltd has a P/E ratio of 8.40, which is below the industry average of 8.40. This is broadly in line with or below the industry average.

Is Garg Furnace Ltd financially healthy?

Key indicators for Garg Furnace Ltd: ROCE of 13.5 % is moderate. Dividend yield is 0.00 %.

Is Garg Furnace Ltd profitable and how is the profit trend?

Garg Furnace Ltd reported a net profit of ₹8 Cr in Mar 2025 on revenue of ₹262 Cr. Compared to ₹6 Cr in Mar 2022, the net profit shows an improving trend.

Does Garg Furnace Ltd pay dividends?

Garg Furnace Ltd has a dividend yield of 0.00 % at the current price of ₹135.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Garg Furnace Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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