Garg Furnace Ltd: Intrinsic Value & Share Price Analysis

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

As of 25 April 2026, Garg Furnace Ltd's intrinsic value is 166.46, which is 11.72% higher than the current market price of 149.00, suggesting the stock is undervalued. Calculated using the PE ratio method factoring in ROE (13.7 %), book value (136), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Garg Furnace Ltd is trading at 149.00 as of 25 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 102 Cr..

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

Garg Furnace Ltd has a P/E ratio of 9.29, which is above the industry average of 3.10. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced.

Q: Is Garg Furnace Ltd financially healthy?

Key indicators: ROCE of 13.5 % is moderate. Dividend yield is 0.00 %.

Q: 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.

Fair Value

₹141.24Fairly Valued by 5.21%vs CMP ₹149.00

P/E (9.3) × ROE (13.7%) × BV (₹136.00) × DY (2.00%)

₹169.53Undervalued by 13.78%vs CMP ₹149.00

MoS: +12.1% (Thin)Confidence: 49/100 (Moderate)Models: 5 Under, 2 Fair, 1 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹145.78	25%	Fair (-2.2%)
Graham Number	Earnings	₹237.74	18%	Under (+59.6%)
Earnings Power	Earnings	₹75.64	12%	Over (-49.2%)
DCF	Cash Flow	₹200.66	15%	Under (+34.7%)
Net Asset Value	Assets	₹135.85	8%	Fair (-8.8%)
EV/EBITDA	Enterprise	₹173.83	10%	Under (+16.7%)
Earnings Yield	Earnings	₹184.70	8%	Under (+24%)
Revenue Multiple	Revenue	₹191.36	6%	Under (+28.4%)
Consensus (8 models)		₹169.53	100%	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

Analyst Summary

Garg Furnace Ltd operates in the Metals - Ferrous segment, NSE: GARGFUR | BSE: 530615, current market price is ₹149.00, market cap is 102 Cr.. At a glance, stock P/E is 9.29, ROE is 13.7 %, ROCE is 13.5 %, book value is 136, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹169.53, which is about 13.8% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹262 Cr versus the prior period change of 1.6%, while latest net profit is about ₹8 Cr with a prior-period change of 33.3%. The 52-week range shown on this page is 266/115, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisGarg 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 L99999PB1…

This summary is generated from the stock page data available for Garg Furnace Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

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 9.3 vs industry 9.3 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.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 1:33 am

Market Cap	102 Cr.
Current Price	149
Intrinsic Value	₹166.46
High / Low	266/115
Stock P/E	9.29
Book Value	136
Dividend Yield	0.00 %
ROCE	13.5 %
ROE	13.7 %
Face Value	10.0
PEG Ratio	2.89

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

Stock P/E Current Price Intrinsic Value

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	102 Cr.	149	266/115	9.29	136	0.00 %	13.5 %	13.7 %	10.0
Monind Ltd	11.1 Cr.	30.2	31.0/22.2		149	0.00 %	%	%	10.0
Gopal Iron & Steels Co.(Gujarat) Ltd	7.95 Cr.	16.2	16.9/5.50		1.85	0.00 %	1.40 %	2.22 %	10.0
Industry Average	102.00 Cr	65.13		9.29	95.62	0.00%	7.45%	7.96%	10.00

All Competitor Stocks of Garg Furnace Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	53.38	62.35	61.75	61.75	65.40	71.02	62.33	62.16	62.97	74.16	60.15	61.38	92.39
Expenses	52.51	58.10	60.83	60.83	63.34	68.92	60.47	61.09	60.77	71.60	58.68	58.27	88.35
Operating Profit	0.87	4.25	0.92	0.92	2.06	2.10	1.86	1.07	2.20	2.56	1.47	3.11	4.04
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	0.06	0.04	0.03	0.03	0.08	1.17	0.13	0.11	0.30	1.16	0.23	0.09	0.11
Interest	0.04	0.06	0.05	0.05	0.04	0.04	0.03	0.03	0.03	0.02	0.02	0.02	0.03
Depreciation	0.36	0.38	0.38	0.38	0.40	0.40	0.39	0.41	0.42	0.42	0.43	0.44	0.44
Profit before tax	0.53	3.85	0.52	0.52	1.70	2.83	1.57	0.74	2.05	3.28	1.25	2.74	3.68
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	0.53	3.85	0.51	0.51	1.70	2.83	1.56	0.74	2.05	3.28	1.25	2.74	3.68
EPS in Rs	1.32	9.60	1.27	1.27	4.24	6.14	3.38	1.61	4.09	6.55	2.50	4.02	5.40

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

Quarterly Chart

Profit & Loss - Annual Report

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

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	148	146	90	54	66	112	99	119	179	238	258	262	288
Expenses	139	139	95	65	70	118	105	119	171	231	253	254	277
Operating Profit	9	8	-5	-11	-4	-6	-6	0	7	7	5	8	11
OPM %	6%	5%	-5%	-21%	-7%	-5%	-7%	0%	4%	3%	2%	3%	4%
Other Income	1	1	0	0	5	13	12	-3	0	0	2	2	2
Interest	8	8	7	1	1	1	1	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	2	2	2
Profit before tax	1	0	-13	-14	-1	5	4	-5	6	6	6	8	11
Tax %	29%	-80%	0%	0%	-91%	0%	0%	1%	0%	0%	0%	0%
Net Profit	1	1	-13	-14	-0	5	4	-5	6	6	6	8	11
EPS in Rs	2.34	1.35	-33.00	-33.80	-0.32	12.75	8.93	-11.75	15.77	14.82	12.06	15.25	18.47
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	4	4	4	4	4	4	4	4	4	4	5	5	7
Reserves	27	27	14	0	0	5	9	4	11	17	44	57	86
Borrowings	43	54	75	75	73	39	9	8	10	5	2	1	1
Other Liabilities	37	64	19	12	5	10	25	28	25	33	11	14	18
Total Liabilities	111	148	112	92	82	58	48	44	50	59	61	78	112
Fixed Assets	15	25	23	22	21	20	19	14	15	15	14	14	14
CWIP	5	0	0	0	0	0	0	0	0	0	0	0	0
Investments	2	2	3	2	2	0	0	0	0	0	0	4	37
Other Assets	89	121	86	67	59	38	29	29	35	43	46	59	62
Total Assets	111	148	112	92	82	58	48	44	50	59	61	78	112

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	11	6	-18	-1	3	31	23	3	0	8	-13	4
Cash from Investing Activity +	-5	-7	2	0	-0	3	-0	-0	-2	-4	-0	-5
Cash from Financing Activity +	-6	3	15	-1	-1	-35	-23	-2	2	-6	19	6
Net Cash Flow	-1	2	-2	-2	2	-2	-0	1	1	-1	5	4
Free Cash Flow	5	-1	-18	-1	2	33	23	3	-2	6	-14	2
CFO/OP	115%	81%	395%	10%	-64%	-516%	-355%	2,164%	6%	118%	-267%	45%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-34.00	-46.00	-80.00	-86.00	-77.00	-45.00	-15.00	-8.00	-3.00	2.00	3.00	7.00

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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	139	212	171	237	129	35	35	33	21	27	32	32
Inventory Days	39	39	50	23	82	71	44	41	41	28	12	26
Days Payable	91	177	68	72	28	25	28	25	18	16	14	12
Cash Conversion Cycle	87	74	153	188	184	81	51	49	44	39	30	47
Working Capital Days	13	25	-73	-258	-200	-35	-19	-18	4	3	33	40
ROCE %	12%	10%	-6%	-15%	-1%	-9%	-17%	-6%	32%	24%	15%	14%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 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	1,921	1,970	1,903	1,928	2,025	2,062	2,752	3,043	3,133	3,171	3,216	3,207

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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	15.88	13.84	14.82	15.77	-11.74
Diluted EPS (Rs.)	14.16	11.60	14.82	15.77	-11.74
Cash EPS (Rs.)	18.53	15.47	18.34	19.11	-8.05
Book Value[Excl.RevalReserv]/Share (Rs.)	124.28	105.69	51.63	36.75	21.15
Book Value[Incl.RevalReserv]/Share (Rs.)	124.28	105.69	51.63	36.75	21.15
Revenue From Operations / Share (Rs.)	522.32	559.87	594.32	445.52	297.73
PBDIT / Share (Rs.)	18.75	15.85	18.74	19.67	0.83
PBIT / Share (Rs.)	15.47	12.44	15.21	16.33	-2.85
PBT / Share (Rs.)	15.24	12.06	14.82	15.77	-11.58
Net Profit / Share (Rs.)	15.24	12.06	14.82	15.77	-11.74
PBDIT Margin (%)	3.58	2.83	3.15	4.41	0.28
PBIT Margin (%)	2.96	2.22	2.55	3.66	-0.95
PBT Margin (%)	2.91	2.15	2.49	3.54	-3.88
Net Profit Margin (%)	2.91	2.15	2.49	3.54	-3.94
Return on Networth / Equity (%)	12.26	11.41	28.69	42.91	-55.49
Return on Capital Employeed (%)	12.15	11.40	24.38	27.35	-7.43
Return On Assets (%)	9.80	9.11	10.10	12.68	-10.71
Long Term Debt / Equity (X)	0.02	0.02	0.19	0.61	0.78
Total Debt / Equity (X)	0.02	0.03	0.22	0.69	0.78
Asset Turnover Ratio (%)	3.77	4.31	4.39	3.81	2.60
Current Ratio (X)	3.91	3.98	1.16	1.17	0.85
Quick Ratio (X)	2.77	3.26	0.69	0.51	0.45
Inventory Turnover Ratio (X)	21.99	22.34	11.73	9.38	8.82
Interest Coverage Ratio (X)	84.60	41.39	47.28	35.10	0.95
Interest Coverage Ratio (Post Tax) (X)	69.79	32.49	38.38	29.15	-3.45
Enterprise Value (Cr.)	72.00	148.95	17.83	22.98	15.07
EV / Net Operating Revenue (X)	0.27	0.57	0.07	0.12	0.12
EV / EBITDA (X)	7.67	20.39	2.37	2.92	44.98
MarketCap / Net Operating Revenue (X)	0.31	0.60	0.06	0.08	0.08
Price / BV (X)	1.34	3.20	0.79	1.02	1.17
Price / Net Operating Revenue (X)	0.31	0.60	0.06	0.08	0.08
EarningsYield	0.09	0.03	0.36	0.41	-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.

INDUSTRY	ADDRESS	CONTACT
Metals - Ferrous	Kanganwal Road, V P O Jugiana, Ludhiana Punjab 141120	Contact not found

Management
Name	Position Held
Mr. Devinder Garg	Chairman & Managing Director
Mr. Toshak Garg	Managing Director
Mrs. Vaneera Garg	Whole Time Director
Mrs. Amardeep Kaur	Independent Director
Mrs. Shruti Gupta	Independent Director
Mrs. Mehak Jain	Independent Director

FAQ

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

As of 25 April 2026, Garg Furnace Ltd's intrinsic value is ₹169.53, which is 13.78% higher than the current market price of ₹149.00, 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 ₹149.00 as of 25 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 ₹102 Cr..

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

Garg Furnace Ltd has a P/E ratio of 9.29, which is below the industry average of 9.29. 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 ₹149.00. The company is currently not paying meaningful dividends.