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GFL Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2,027.69Undervalued by 5,072.68%vs CMP ₹39.20

P/E (365.0) × ROE (3.0%) × BV (₹230.00) × DY (2.00%)

₹1,019.85Undervalued by 2,501.66%vs CMP ₹39.20
MoS: +96.2% (Strong)Confidence: 43/100 (Low)Models: 3 Under, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,289.1129%Under (+8290.6%)
Graham NumberEarnings₹23.8617%Over (-39.1%)
Earnings PowerEarnings₹269.5814%Under (+587.7%)
DCFCash Flow₹2.6414%Over (-93.3%)
Net Asset ValueAssets₹230.369%Under (+487.7%)
Earnings YieldEarnings₹1.109%Over (-97.2%)
Revenue MultipleRevenue₹0.507%Over (-98.7%)
Consensus (7 models)₹1,019.85100%Undervalued
Key Drivers: EPS CAGR 62.2% lifts DCF — verify sustainability. | P/E of 365 makes PE-ROE unreliable — asset/earnings models are better benchmarks.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 62.2%

*Investments are subject to market risks

Analyst Summary

GFL Ltd operates in the Chemicals - Organic - Others segment, current market price is ₹39.20, market cap is 430 Cr.. At a glance, stock P/E is 365, ROE is 2.96 %, ROCE is 1.89 %, book value is 230, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹1,019.85, which is about 2,501.7% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹4 Cr versus the prior period change of 3.7%, while latest net profit is about ₹-76 Cr with a prior-period change of -898.5%. The 52-week range shown on this page is 81.0/37.1, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisGFL Ltd. is a Public Limited Listed company incorporated on 04/02/1987 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L65100MH1987P…

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

Investment Snapshot

36
GFL Ltd scores 36/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 1.9% WeakROE 3.0% WeakD/E 0.18 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 1.37% MF sellingPromoter holding at 68.7% Stable
Earnings Quality30/100 · Weak
OPM contracting (55% → -782%) DecliningWorking capital: 3,161 days Capital intensive
Quarterly Momentum60/100 · Moderate
Revenue (4Q): 0% YoY FlatOPM: 58.0% (up 383.0% YoY) Margin expansion
Industry Rank10/100 · Weak
P/E 365.0 vs industry 143.3 Premium to peersROCE 1.9% vs industry 13.8% Below peersROE 3.0% vs industry 10.0% Below peers3Y sales CAGR: -83% Shrinking

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 2, 2026, 2:57 am

Market Cap 430 Cr.
Current Price 39.2
Intrinsic Value₹1,019.85
High / Low 81.0/37.1
Stock P/E365
Book Value 230
Dividend Yield0.00 %
ROCE1.89 %
ROE2.96 %
Face Value 1.00
PEG Ratio5.87

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

View Share Price Target for GFL Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
GFL Ltd 430 Cr. 39.2 81.0/37.1365 2300.00 %1.89 %2.96 % 1.00
Fairchem Organics Ltd 613 Cr. 471 1,103/428194 2261.59 %10.2 %7.51 % 10.0
Gujchem Distillers India Ltd 165 Cr. 103 437/90.0179 3920.10 %0.21 %0.09 % 1.00
IVP Ltd 127 Cr. 123 207/1109.06 1390.82 %9.99 %8.44 % 10.0
ARCL Organics Ltd 125 Cr. 156 435/15018.5 1080.00 %20.4 %16.8 % 10.0
Industry Average4,113.08 Cr1,348.11143.25384.560.50%13.78%9.96%7.56

All Competitor Stocks of GFL Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 1111111111111
Expenses 0156150024314022100
Operating Profit 00-55-1400-23-30-30-21-101
OPM % 44%5%-6,884%-1,639%60%53%-2,921%-3,694%-325%52%-2,543%-1,036%58%
Other Income -40-402,450026100050017
Interest 0000000000000
Depreciation 0000000000000
Profit before tax -40-402,395-14272-23-30-35-21-917
Tax % 0%0%6%-11%12%16%-11%-11%1,219%15%-14%-14%15%
Net Profit -40-402,258-12241-20-27-355-18-815
EPS in Rs -3.64-1.60205.48-1.112.160.13-1.86-2.41-3.220.42-1.66-0.741.33

Last Updated: January 12, 2026, 7:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 2, 2026, 2:00 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3,431.305,310.316,971.516,288.403,892.562,968.842,730.13117.11698.762,453.723.523.653.63
Expenses 2,832.174,275.125,668.345,127.293,147.082,504.372,223.44188.50618.9233.9511.9052.0333.45
Operating Profit 599.131,035.191,303.171,161.11745.48464.47506.69-71.3979.842,419.77-8.38-48.38-29.82
OPM % 17.46%19.49%18.69%18.46%19.15%15.64%18.56%-60.96%11.43%98.62%-238.07%-1,325.48%-821.49%
Other Income 44.44293.9791.34-92.01112.371,279.2614.7368.81155.53-47.360.220.0031.45
Interest 178.92218.77217.68278.99279.21167.48445.22252.55258.280.000.000.000.00
Depreciation 200.44284.75324.53348.70299.22168.68354.16283.22293.860.020.020.020.01
Profit before tax 264.21825.64852.30441.41279.421,407.57-277.96-538.35-316.772,372.39-8.18-48.401.62
Tax % 14.25%19.20%28.51%51.40%14.09%4.15%-14.93%-20.13%-23.12%5.79%-7.46%56.16%
Net Profit 230.67667.13609.33214.51240.071,349.09-236.47-429.98-243.542,234.99-7.57-75.591.18
EPS in Rs 16.9353.2536.338.0223.07118.73-11.23-21.08-10.12204.58-0.69-6.880.11
Dividend Payout % 20.67%6.57%9.63%43.65%15.17%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)189.21%-8.66%-64.80%11.92%461.96%-117.53%-81.83%43.36%1017.71%-100.34%-898.55%
Change in YoY Net Profit Growth (%)0.00%-197.88%-56.13%76.71%450.04%-579.49%35.70%125.19%974.35%-1118.05%-798.21%

GFL Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-52%
5 Years:-71%
3 Years:19%
TTM:8%
Compounded Profit Growth
10 Years:%
5 Years:6%
3 Years:%
TTM:-162%
Stock Price CAGR
10 Years:-4%
5 Years:-6%
3 Years:-7%
1 Year:-29%
Return on Equity
10 Years:6%
5 Years:-1%
3 Years:-2%
Last Year:-3%

Last Updated: September 5, 2025, 4:40 am

Balance Sheet

Last Updated: April 22, 2026, 2:00 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 10.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.99
Reserves 3,285.994,224.274,442.604,507.274,755.815,965.842,167.75361.60342.032,590.772,583.272,509.682,515.87
Borrowings 2,302.312,565.422,972.773,307.962,019.491,220.162,836.792,855.602,948.08-0.00-0.00-0.00-0.00
Other Liabilities 1,482.382,562.803,053.083,104.542,966.474,334.034,570.66654.88733.45139.38137.84164.87165.80
Total Liabilities 7,081.679,363.4810,479.4410,930.769,752.7611,531.029,586.193,883.074,034.552,741.142,732.102,685.542,692.66
Fixed Assets 3,728.584,230.754,600.353,504.673,813.332,052.343,145.693,083.473,086.552.512.502.472.46
CWIP 762.61403.36238.41410.21724.32522.1585.3556.9526.29-0.00-0.00-0.00-0.00
Investments 369.47159.20404.18678.09524.04148.8328.1522.13166.822,704.992,696.052,650.242,657.01
Other Assets 2,221.014,570.175,236.506,337.794,691.078,807.706,327.00720.52754.8933.6433.5532.8333.19
Total Assets 7,081.679,363.4810,479.4410,930.769,752.7611,531.029,586.193,883.074,034.552,741.142,732.102,685.542,692.66

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 542.21149.11379.49731.69951.84995.611,214.23-155.7488.95402.170.360.50
Cash from Investing Activity + -471.17248.34-1,469.94-674.44589.29-955.73-608.2460.59-159.76-240.93-0.10-0.96
Cash from Financing Activity + -93.46658.70135.5253.20-1,668.06-79.39-629.2356.0185.41-184.410.000.00
Net Cash Flow -22.421,056.15-954.93110.45-126.93-39.51-23.24-39.1414.61-23.170.26-0.46
Free Cash Flow 120.35-270.04-455.5073.62-64.07587.181,000.99-216.2612.99402.160.350.50
CFO/OP 102%31%44%77%157%228%147%218%117%17%-8%-2%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow597.13-1.00-1.00-2.00743.48463.47504.69-73.3977.842.00-8.38-48.38

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 10112815116118219012554,95102222
Inventory Days 16715010417373641640624
Days Payable 1671491491814714593867,006
Cash Conversion Cycle 101129105153447148-334-6,3264,95102222
Working Capital Days -227162166504-58-318-31,82953,2533,161
ROCE %8%11%13%11%6%19%5%-2%6%-1%-0%-2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 68.72%68.72%68.72%68.72%68.72%68.72%68.72%68.72%68.72%68.72%68.72%68.72%
FIIs 3.52%1.81%0.39%0.39%0.45%0.23%0.27%0.22%0.25%0.21%0.23%0.20%
DIIs 2.05%2.05%2.05%2.06%2.05%2.05%1.97%1.97%1.79%1.53%1.39%0.42%
Public 25.70%27.40%28.84%28.80%28.76%29.00%29.04%29.10%29.23%29.53%29.65%30.65%
No. of Shareholders 22,33723,72423,66926,94828,51829,10228,37129,67729,64529,51829,07729,641

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Aditya Birla Sun Life Midcap Fund 365,729 0.03 1.77461,1592026-02-22 06:51:32-20.69%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) -6.88-0.69203.46-22.17-39.14
Diluted EPS (Rs.) -6.88-0.69203.46-22.17-39.14
Cash EPS (Rs.) -2.280.25208.494.40-13.87
Book Value[Excl.RevalReserv]/Share (Rs.) 229.46236.16236.8567.6964.50
Book Value[Incl.RevalReserv]/Share (Rs.) 229.46236.16236.8567.6964.50
Revenue From Operations / Share (Rs.) 0.300.290.2962.429.74
PBDIT / Share (Rs.) 0.190.200.0921.188.30
PBIT / Share (Rs.) 0.190.190.09-5.57-17.49
PBT / Share (Rs.) 0.190.19223.15-29.02-40.94
Net Profit / Share (Rs.) -2.280.25208.49-22.35-39.66
NP After MI And SOA / Share (Rs.) -6.88-0.68204.68-10.13-21.09
PBDIT Margin (%) 64.1969.4232.7333.9385.20
PBIT Margin (%) 63.5368.7632.13-8.92-179.55
PBT Margin (%) 63.5368.7676025.87-46.48-420.38
Net Profit Margin (%) -756.1487.9071029.76-35.80-407.22
NP After MI And SOA Margin (%) -2279.38-236.9369732.26-16.22-216.61
Return on Networth / Equity (%) -2.99-0.2986.41-31.51-62.19
Return on Capital Employeed (%) 0.070.080.03-1.68-5.49
Return On Assets (%) -2.81-0.2782.02-2.75-5.96
Long Term Debt / Equity (X) 0.000.000.000.190.12
Total Debt / Equity (X) 0.000.000.000.240.18
Current Ratio (X) 95.9264.2732.340.870.59
Quick Ratio (X) 95.9264.2732.340.830.57
Interest Coverage Ratio (X) 0.000.001507.860.900.36
Interest Coverage Ratio (Post Tax) (X) 0.000.00-194803.710.04-0.33
Enterprise Value (Cr.) 566.02744.31523.171284.311229.66
EV / Net Operating Revenue (X) 170.69232.99162.261.8711.50
EV / EBITDA (X) 265.89335.58495.665.5213.49
MarketCap / Net Operating Revenue (X) 170.83233.38162.651.268.47
Price / BV (X) 0.220.280.202.452.43
Price / Net Operating Revenue (X) 170.87233.39162.661.268.47
EarningsYield -0.13-0.014.29-0.12-0.25

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

GFL Ltd. is a Public Limited Listed company incorporated on 04/02/1987 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L65100MH1987PLC374824 and registration number is 009362. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company's Total Operating Revenue is Rs. 3.32 Cr. and Equity Capital is Rs. 10.99 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Organic - OthersCeejay House, 7th Floor, Dr. Annie Besant Road, Mumbai Maharashtra 400018Contact not found
Management
NamePosition Held
Mr. Devendra Kumar JainChairman & Managing Director
Mr. Pavan Kumar JainNon Executive Director
Mr. Siddharth JainNon Executive Director
Mr. Shashi Kishore JainIndependent Director
Ms. Girija BalakrishnanIndependent Director
Mr. Sudip MullickIndependent Director

FAQ

What is the intrinsic value of GFL Ltd and is it undervalued?

As of 25 April 2026, GFL Ltd's intrinsic value is ₹1019.85, which is 2501.66% higher than the current market price of ₹39.20, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (2.96 %), book value (₹230), dividend yield (0.00 %), and 5-year EPS CAGR.

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

GFL Ltd is trading at ₹39.20 as of 25 April 2026, with a FY2026-2027 high of ₹81.0 and low of ₹37.1. The stock is currently near its 52-week low. Market cap stands at ₹430 Cr..

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

GFL Ltd has a P/E ratio of 365, which is above the industry average of 143.25. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is GFL Ltd financially healthy?

Key indicators for GFL Ltd: ROCE of 1.89 % is on the lower side compared to the industry average of 13.78%; ROE of 2.96 % is below ideal levels (industry average: 9.96%). Dividend yield is 0.00 %.

Is GFL Ltd profitable and how is the profit trend?

GFL Ltd reported a net profit of ₹-76 Cr in Mar 2025 on revenue of ₹4 Cr. Compared to ₹-244 Cr in Mar 2022, the net profit shows a mixed trend.

Does GFL Ltd pay dividends?

GFL Ltd has a dividend yield of 0.00 % at the current price of ₹39.20. The company is currently not paying meaningful dividends.

Last Updated: April 2, 2026, 2:57 am
Author: Getaka|Social: XLinkedIn
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 GFL 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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