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Last Updated: April 2, 2026, 4:39 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 526727 | NSE: GARNET

Garnet Construction Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹17.01Overvalued by 78.58%vs CMP ₹79.40

P/E (3.0) × ROE (7.5%) × BV (₹91.80) × DY (2.00%)

₹154.93Undervalued by 95.13%vs CMP ₹79.40
MoS: +48.8% (Strong)Confidence: 48/100 (Moderate)Models: 4 Under, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹39.8423%Over (-49.8%)
Graham NumberEarnings₹232.0517%Under (+192.3%)
Earnings PowerEarnings₹14.0011%Over (-82.4%)
DCFCash Flow₹632.4811%Under (+696.6%)
Net Asset ValueAssets₹92.397%Under (+16.4%)
EV/EBITDAEnterprise₹41.149%Over (-48.2%)
Earnings YieldEarnings₹260.707%Under (+228.3%)
ROCE CapitalReturns₹42.637%Over (-46.3%)
Revenue MultipleRevenue₹11.556%Over (-85.5%)
Consensus (9 models)₹154.93100%Undervalued
Key Drivers: EPS CAGR 134.2% lifts DCF — verify sustainability. | Wide model spread (₹12–₹632) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 134.2%

*Investments are subject to market risks

Investment Snapshot

68
Garnet Construction Ltd scores 68/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health61/100 · Moderate
ROCE 10.0% AverageROE 7.5% AverageD/E 0.54 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 61.3% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-46% → 16%) ImprovingWorking capital: 2,355 days Capital intensive
Quarterly Momentum100/100 · Strong
Revenue (4Q): +196% YoY AcceleratingProfit (4Q): +620% YoY StrongOPM: 87.0% (up 113.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 3.0 vs industry 28.7 Cheaper than peersROCE 10.0% vs industry 12.3% Average3Y sales CAGR: 39% High growth

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.

Garnet Construction Ltd Investor Signals

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

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 3.0 vs Ind 28.7 | ROCE 10.0% | ROE 7.5% | CFO/NP N/A
Balance Sheet Stress
10/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.54x | IntCov 0.0x | Current 1.67x | Borrow/Reserve 0.06x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹7 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
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales 0.0% | Q NP +42.9% | Q OPM +32.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+95.1%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.06xLatest 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-45Latest shareholder count minus previous count
Quarterly Sales Change0.0%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+42.9%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+32.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

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

Market Cap 110 Cr.
Current Price 79.4
Intrinsic Value₹154.93
High / Low 116/22.6
Stock P/E3.04
Book Value 91.8
Dividend Yield0.00 %
ROCE9.96 %
ROE7.47 %
Face Value 10.0
PEG Ratio0.02

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

View Share Price Target for Garnet Construction Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Garnet Construction Ltd 110 Cr. 79.4 116/22.63.04 91.80.00 %9.96 %7.47 % 10.0
Ceenik Exports (India) Ltd 111 Cr. 276 711/189 40.54.52 %41.2 %104 % 10.0
Excel Realty N Infra Ltd 135 Cr. 0.96 1.75/0.65 1.240.00 %0.42 %0.40 % 1.00
Hampton Sky Realty Ltd 240 Cr. 8.75 32.1/7.50 5.030.00 %6.07 %3.84 % 1.00
Nila Infrastructures Ltd 254 Cr. 6.44 13.8/5.9011.1 4.490.00 %19.4 %13.2 % 1.00
Industry Average14,426.24 Cr370.0328.73148.620.68%12.33%12.56%6.13

All Competitor Stocks of Garnet Construction Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2-101171511-1401616
Expenses 101111051111672
Operating Profit 0-1-0-0-0-310-1-0-125914
OPM % 23%-126%-17%-17%-40%66%-75%-26%61%55%87%
Other Income 0205520003000
Interest 0000000000000
Depreciation 0000000000000
Profit before tax 11-144-110-1-0224913
Tax % 0%18%-1%21%21%-2%26%0%-4%1%25%25%25%
Net Profit 11-133-17-1-0118710
EPS in Rs 0.420.65-0.482.402.40-0.435.22-0.63-0.331.0713.104.707.20

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 629461467686762111672
Expenses 42340112657507313826
Operating Profit 2663311216-1-1-2846
OPM % 32%21%13%22%58%17%17%24%-22%-69%-18%49%64%
Other Income 4000011232733
Interest 3322202100111
Depreciation 0111100000000
Profit before tax 33311110171041048
Tax % 28%74%25%63%17%29%29%26%28%37%28%25%
Net Profit 212011713103736
EPS in Rs 1.650.471.560.240.870.594.969.100.370.212.115.3326.07
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172018-20192019-20202020-20212021-20222022-20232024-2025
YoY Net Profit Growth (%)-50.00%100.00%-100.00%0.00%600.00%85.71%-92.31%-100.00%133.33%
Change in YoY Net Profit Growth (%)0.00%150.00%-200.00%100.00%600.00%-514.29%-178.02%-7.69%233.33%

Garnet Construction Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-6%
5 Years:-25%
3 Years:42%
TTM:70%
Compounded Profit Growth
10 Years:27%
5 Years:2%
3 Years:179%
TTM:38%
Stock Price CAGR
10 Years:12%
5 Years:34%
3 Years:29%
1 Year:-8%
Return on Equity
10 Years:4%
5 Years:5%
3 Years:4%
Last Year:7%

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 14141414141414141414141414
Reserves 505153565758657878798289114
Borrowings 345642353747282016151197
Other Liabilities 107926868475375756055576481
Total Liabilities 206213177173155172182186168162163176216
Fixed Assets 9876655544456
CWIP 0000000000000
Investments 3333300000000
Other Assets 194202167164146167177182164158159171209
Total Assets 206213177173155172182186168162163176216

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 8-1815122-62813-1-1-21
Cash from Investing Activity + 300003012262
Cash from Financing Activity + -1219-16-13-34-25-11-6-2-5-3
Net Cash Flow -11-2-0-1133-5-1-10
Free Cash Flow 11-1815122-62813-1-1-2-0
CFO/OP 414%-293%255%407%58%-441%254%106%68%86%59%39%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-32.00-50.00-36.00-32.00-34.00-46.00-16.00-4.00-17.00-16.00-13.00-1.00

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 2,5466243441,4901,9021,7022031932,4056,2031,008670
Inventory Days 3,676
Days Payable 132
Cash Conversion Cycle 2,5466243441,4901,9021,7022031932,4056,2034,553670
Working Capital Days 4,6301,1166082,2165,5284,4304825246,32617,9213,3192,355
ROCE %2%5%5%2%3%1%11%16%1%1%5%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 61.29%61.29%61.29%61.29%61.29%61.29%61.29%61.29%61.29%61.29%61.29%61.29%
Public 38.70%38.71%38.70%38.72%38.70%38.70%38.70%38.70%38.71%38.72%38.70%38.71%
No. of Shareholders 5,8455,7845,7585,8115,9625,7366,1966,0706,0715,9765,9705,925

Shareholding Pattern Chart

No. of Shareholders

Garnet Construction 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 19Mar 18Mar 17Mar 16Mar 15
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 0.590.870.231.550.52
Diluted EPS (Rs.) 0.590.870.231.550.52
Cash EPS (Rs.) 0.931.260.692.221.32
Book Value[Excl.RevalReserv]/Share (Rs.) 52.0351.4550.5948.3646.83
Book Value[Incl.RevalReserv]/Share (Rs.) 52.0351.4550.5948.3646.83
Revenue From Operations / Share (Rs.) 5.254.1910.2433.2720.55
PBDIT / Share (Rs.) 1.482.552.294.504.60
PBIT / Share (Rs.) 1.132.141.833.823.85
PBT / Share (Rs.) 0.831.030.632.081.98
Net Profit / Share (Rs.) 0.580.850.231.540.57
NP After MI And SOA / Share (Rs.) 0.580.860.231.550.52
PBDIT Margin (%) 28.1760.8122.3813.5222.40
PBIT Margin (%) 21.5351.1617.8411.4718.74
PBT Margin (%) 15.8324.726.206.249.63
Net Profit Margin (%) 11.1020.502.274.622.79
NP After MI And SOA Margin (%) 11.1020.672.324.652.55
Return on Networth / Equity (%) 1.121.680.473.211.12
Return on Capital Employeed (%) 1.623.012.615.975.25
Return On Assets (%) 0.420.690.171.090.30
Long Term Debt / Equity (X) 0.330.380.380.290.54
Total Debt / Equity (X) 0.370.380.390.310.54
Asset Turnover Ratio (%) 0.040.030.070.220.00
Current Ratio (X) 1.962.191.921.721.67
Quick Ratio (X) 0.680.790.930.730.71
Interest Coverage Ratio (X) 4.822.301.922.592.46
Interest Coverage Ratio (Post Tax) (X) 2.871.781.201.891.31
Enterprise Value (Cr.) 44.3458.0044.1937.6347.32
EV / Net Operating Revenue (X) 6.079.963.100.811.66
EV / EBITDA (X) 21.5416.3813.866.017.39
MarketCap / Net Operating Revenue (X) 2.445.191.210.360.64
Price / BV (X) 0.240.420.240.240.28
Price / Net Operating Revenue (X) 2.445.191.210.360.64
EarningsYield 0.040.030.010.120.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Garnet Construction Ltd. is a Public Limited Listed company incorporated on 15/10/1992 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L45200MH1992PLC069044 and registration number is 069044. Currently company belongs to the Industry of Realty. Company's Total Operating Revenue is Rs. 16.09 Cr. and Equity Capital is Rs. 13.90 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Realty501/531, Laxmi Mall, Mumbai Maharashtra 400053Contact not found
Management
NamePosition Held
Mr. Kishan Kumar KediaChairman & Managing Director
Mr. Arun KediaDirector - Marketing
Mr. Sanjay KediaDirector - Finance
Mr. Jitendra JadhavDirector
Ms. Sirya Vakil SiddiquiDirector
Mr. Akash KambleDirector

FAQ

What is the intrinsic value of Garnet Construction Ltd and is it undervalued?

As of 04 April 2026, Garnet Construction Ltd's intrinsic value is ₹154.93, which is 95.13% higher than the current market price of ₹79.40, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (7.47 %), book value (₹91.8), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Garnet Construction Ltd?

Garnet Construction Ltd is trading at ₹79.40 as of 04 April 2026, with a FY2026-2027 high of ₹116 and low of ₹22.6. The stock is currently in the middle of its 52-week range. Market cap stands at ₹110 Cr..

How does Garnet Construction Ltd's P/E ratio compare to its industry?

Garnet Construction Ltd has a P/E ratio of 3.04, which is below the industry average of 28.73. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Garnet Construction Ltd financially healthy?

Key indicators for Garnet Construction Ltd: ROCE of 9.96 % is on the lower side compared to the industry average of 12.33%; ROE of 7.47 % is below ideal levels (industry average: 12.56%). Dividend yield is 0.00 %.

Is Garnet Construction Ltd profitable and how is the profit trend?

Garnet Construction Ltd reported a net profit of ₹7 Cr in Mar 2025 on revenue of ₹16 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Garnet Construction Ltd pay dividends?

Garnet Construction Ltd has a dividend yield of 0.00 % at the current price of ₹79.40. 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 Garnet Construction 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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