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

GHCL Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹488.36Fairly Valued by 9.74%vs CMP ₹445.00

P/E (8.1) × ROE (18.6%) × BV (₹396.00) × DY (2.70%)

₹574.24Undervalued by 29.04%vs CMP ₹445.00
MoS: +22.5% (Adequate)Confidence: 56/100 (Moderate)Models: 6 Under, 1 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹465.4822%Fair (+4.6%)
Graham NumberEarnings₹689.3316%Under (+54.9%)
Earnings PowerEarnings₹735.7111%Under (+65.3%)
DCFCash Flow₹536.7813%Under (+20.6%)
Net Asset ValueAssets₹395.317%Over (-11.2%)
EV/EBITDAEnterprise₹849.669%Under (+90.9%)
Earnings YieldEarnings₹533.307%Under (+19.8%)
ROCE CapitalReturns₹538.789%Under (+21.1%)
Revenue MultipleRevenue₹346.065%Over (-22.2%)
Consensus (9 models)₹574.24100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -4.7%

*Investments are subject to market risks

Investment Snapshot

60
GHCL Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 24.2% ExcellentROE 18.6% ExcellentD/E 0.24 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changeDII holding down 0.60% MF sellingPromoter increased by 0.86% Positive
Earnings Quality50/100 · Moderate
OPM stable around 27% Steady
Quarterly Momentum15/100 · Weak
Revenue (4Q): -5% YoY DecliningProfit (4Q): -15% YoY DecliningOPM: 21.0% (down 9.0% YoY) Margin pressure
Industry Rank80/100 · Strong
P/E 8.1 vs industry 38.4 Cheaper than peersROCE 24.2% vs industry 7.1% Above peersROE 18.6% vs industry 8.1% Above peers3Y sales CAGR: -6% 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 4,093 Cr.
Current Price 445
Intrinsic Value₹574.24
High / Low 668/419
Stock P/E8.07
Book Value 396
Dividend Yield2.70 %
ROCE24.2 %
ROE18.6 %
Face Value 10.0
PEG Ratio-1.72

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

View Share Price Target for GHCL Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
GHCL Ltd 4,093 Cr. 445 668/4198.07 3962.70 %24.2 %18.6 % 10.0
Gujarat Alkalies & Chemicals Ltd 4,343 Cr. 591 700/409 7592.67 %0.34 %1.13 % 10.0
Chemfab Alkalis Ltd 469 Cr. 326 906/27047.5 2880.38 %5.89 %3.69 % 10.0
Tata Chemicals Ltd 15,458 Cr. 607 1,027/58056.8 8771.81 %3.96 %1.20 % 10.0
Caprolactam Chemicals Ltd 19.8 Cr. 43.0 81.0/37.541.2 11.60.00 %0.48 %13.7 % 10.0
Industry Average6,090.75 Cr337.3838.39392.002.01%7.11%8.14%9.17

All Competitor Stocks of GHCL Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,1021,1201,019805798823830793779781796721757
Expenses 735771719592648639614582549563599564598
Operating Profit 367349299213150184217211230218197157159
OPM % 33%31%29%26%19%22%26%27%30%28%25%22%21%
Other Income 4-323011141718172923271716
Interest 101087654444223
Depreciation 22272426262627282828272829
Profit before tax 339309497191133170203196227209195145143
Tax % 26%27%14%25%25%26%26%21%26%28%26%26%26%
Net Profit 252227426143100125151155168150144107106
EPS in Rs 26.3823.7044.6014.9410.4313.0415.7316.1717.5915.6915.0011.1111.53

Last Updated: February 5, 2026, 10:40 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 4:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,2012,3562,5312,7842,9193,3413,3052,4913,7784,5453,4473,1833,055
Expenses 1,7671,8281,9012,1032,3132,5822,5761,8862,7973,0482,5962,3062,324
Operating Profit 4345286296816077597296059821,497851877731
OPM % 20%22%25%24%21%23%22%24%26%33%25%28%24%
Other Income -26-15-33738161618581242708883
Interest 183171165137127127120746439271711
Depreciation 8285828611011713111111794102112112
Profit before tax 1432573804954075314954378591,489991836692
Tax % 24%29%32%23%13%34%20%25%25%23%20%25%
Net Profit 1091822583803563513973266471,142794624507
EPS in Rs 10.8518.1925.7838.0436.5935.7741.7534.3367.79119.4182.9465.1853.33
Dividend Payout % 18%12%0%13%14%14%7%16%0%15%14%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)66.97%41.76%47.29%-6.32%-1.40%13.11%-17.88%98.47%76.51%-30.47%-21.41%
Change in YoY Net Profit Growth (%)0.00%-25.21%5.53%-53.60%4.91%14.51%-30.99%116.35%-21.96%-106.98%9.06%

GHCL 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:3%
5 Years:-1%
3 Years:1%
TTM:-3%
Compounded Profit Growth
10 Years:12%
5 Years:9%
3 Years:-3%
TTM:19%
Stock Price CAGR
10 Years:18%
5 Years:30%
3 Years:-1%
1 Year:-17%
Return on Equity
10 Years:22%
5 Years:22%
3 Years:23%
Last Year:19%

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

Balance Sheet

Last Updated: December 4, 2025, 1:17 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 10010010099979895959596969696
Reserves 4876709361,2471,5131,8272,0542,3892,8523,8602,8833,3933,540
Borrowings 1,4861,3241,3651,4631,3221,3021,25478278836121011997
Other Liabilities 9417585486946957677667121,261816581578540
Total Liabilities 3,0142,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,272
Fixed Assets 1,8691,9342,0492,4102,5022,5912,6642,6752,4741,7311,8421,8441,842
CWIP 1273726741171228121310955256370
Investments 72159101291517380420651831
Other Assets 1,1259098481,0591,0431,2751,3751,2072,2922,9141,4531,4351,229
Total Assets 3,0142,8512,9493,5043,6283,9954,1693,9784,9955,1333,7704,1854,272

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 452416509458590530624621643856797638
Cash from Investing Activity + -117-127-249-375-279-271-206-109-337-403-534-358
Cash from Financing Activity + -323-296-252-113-308-258-339-569-98-536-338-230
Net Cash Flow 13-88-302180-57209-83-7550
Free Cash Flow 36828425882308257418510306506691336
CFO/OP 113%91%96%83%109%82%101%120%86%87%116%98%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow433.00527.00628.00680.00606.00758.00728.00-177.00194.00-360.00641.00758.00

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 633826362932303327181924
Inventory Days 227193194187182199198245294177185217
Days Payable 233155110107109106102121107535557
Cash Conversion Cycle 5776110117101125126158214142149183
Working Capital Days -52-39-48-30-1210266187505058
ROCE %17%22%25%24%19%21%19%16%19%36%21%24%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 19.05%19.06%19.06%19.03%19.04%19.03%19.03%19.03%19.03%18.97%18.97%19.83%
FIIs 25.09%26.04%25.27%24.66%24.99%24.76%25.70%25.41%26.06%26.41%25.67%25.22%
DIIs 10.79%10.78%9.68%8.60%8.29%9.29%9.79%10.35%10.09%10.28%10.52%9.49%
Public 45.06%44.12%45.99%47.70%47.67%46.91%45.45%45.17%44.79%44.32%44.82%45.46%
No. of Shareholders 93,00995,2021,00,2981,06,5021,12,8591,09,1131,07,0471,10,6641,08,6301,01,12896,98895,574

Shareholding Pattern Chart

No. of Shareholders

GHCL 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
DSP Small Cap Fund 2,273,226 0.75 120.642,600,0002026-01-26 05:28:27-12.57%
DSP ELSS Tax Saver Fund 1,265,155 0.39 67.141,447,0192026-01-26 05:28:27-12.57%
Franklin India Small Cap Fund 1,159,493 0.48 61.531,449,4722026-01-26 05:28:27-20.01%
UTI Large & Mid Cap Fund 745,257 0.7 39.55687,8492026-02-23 04:08:478.35%
UTI Aggressive Hybrid Fund 690,910 0.55 36.67631,1832026-02-23 04:08:479.46%
ICICI Prudential Smallcap Fund 396,420 0.26 21.04850,0002026-01-26 05:28:27-53.36%
HDFC Dividend Yield Fund 369,983 0.33 19.64400,0002026-01-26 05:28:27-7.5%
UTI Retirement Fund 211,462 0.24 11.22187,6582026-02-23 04:08:4712.68%
Mahindra Manulife Flexi Cap Fund 55,455 0.19 2.94147,3612026-01-26 05:28:27-62.37%
Mahindra Manulife ELSS Tax Saver Fund 25,456 0.14 1.3585,0002026-01-26 05:28:27-70.05%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 65.5083.43120.0667.8934.32
Diluted EPS (Rs.) 65.3483.33120.0667.8934.23
Cash EPS (Rs.) 76.8393.61129.2880.3648.37
Book Value[Excl.RevalReserv]/Share (Rs.) 364.37311.17413.83324.73261.47
Book Value[Incl.RevalReserv]/Share (Rs.) 364.37311.17413.83324.73261.47
Revenue From Operations / Share (Rs.) 332.48360.06475.51397.68305.24
PBDIT / Share (Rs.) 100.6594.00159.03104.3269.80
PBIT / Share (Rs.) 89.0083.33149.1792.0355.76
PBT / Share (Rs.) 87.32103.58153.0585.3446.16
Net Profit / Share (Rs.) 65.1982.94119.4268.0734.32
NP After MI And SOA / Share (Rs.) 65.1982.94119.4268.0734.32
PBDIT Margin (%) 30.2726.1033.4426.2322.86
PBIT Margin (%) 26.7623.1431.3723.1418.26
PBT Margin (%) 26.2628.7632.1821.4515.12
Net Profit Margin (%) 19.6023.0325.1117.1111.24
NP After MI And SOA Margin (%) 19.6023.0325.1117.1111.24
Return on Networth / Equity (%) 17.8826.6528.8520.9613.12
Return on Capital Employeed (%) 22.3223.7631.9722.9715.93
Return On Assets (%) 14.9121.0622.2312.948.19
Long Term Debt / Equity (X) 0.010.030.060.130.22
Total Debt / Equity (X) 0.020.060.080.240.24
Asset Turnover Ratio (%) 0.800.770.890.840.69
Current Ratio (X) 5.314.304.691.821.71
Quick Ratio (X) 3.612.733.541.030.53
Inventory Turnover Ratio (X) 4.991.551.491.751.48
Dividend Payout Ratio (NP) (%) 18.3220.9612.498.080.00
Dividend Payout Ratio (CP) (%) 15.5418.5711.546.840.00
Earning Retention Ratio (%) 81.6879.0487.5191.920.00
Cash Earning Retention Ratio (%) 84.4681.4388.4693.160.00
Interest Coverage Ratio (X) 59.7835.3339.3115.597.27
Interest Coverage Ratio (Post Tax) (X) 39.7223.5627.9010.414.58
Enterprise Value (Cr.) 5531.623948.485021.665717.822744.15
EV / Net Operating Revenue (X) 1.741.151.101.510.94
EV / EBITDA (X) 5.744.393.305.774.14
MarketCap / Net Operating Revenue (X) 1.851.231.061.380.75
Retention Ratios (%) 81.6779.0387.5091.910.00
Price / BV (X) 1.691.421.221.690.88
Price / Net Operating Revenue (X) 1.851.231.061.380.75
EarningsYield 0.100.180.230.120.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

GHCL Ltd. is a Public Limited Listed company incorporated on 14/10/1983 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24100GJ1983PLC006513 and registration number is 006513. Currently Company is involved in the business activities of Manufacture of basic chemicals, fertilizer and nitrogen compounds, plastics and synthetic rubber in primary forms. Company's Total Operating Revenue is Rs. 3183.48 Cr. and Equity Capital is Rs. 95.75 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Inorganic - Caustic Soda/Soda AshGHCL House, Opp. Punjabi Hall, Ahmedabad Gujarat 380009Contact not found
Management
NamePosition Held
Mr. Anurag DalmiaNon Executive Chairman
Mr. R S JalanManaging Director
Mr. Raman ChopraExecutive Director (Finance) & CFO
Mr. Neelabh DalmiaExecutive Director
Mrs. Vijaylaxmi JoshiIndependent Director
Dr. Manoj VaishIndependent Director
Justice(Retd) Ravindra SinghIndependent Director
Mr. Arun Kumar JainIndependent Director

FAQ

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

As of 16 April 2026, GHCL Ltd's intrinsic value is ₹574.24, which is 29.04% higher than the current market price of ₹445.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (18.6 %), book value (₹396), dividend yield (2.70 %), and 5-year EPS CAGR.

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

GHCL Ltd is trading at ₹445.00 as of 16 April 2026, with a FY2026-2027 high of ₹668 and low of ₹419. The stock is currently near its 52-week low. Market cap stands at ₹4,093 Cr..

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

GHCL Ltd has a P/E ratio of 8.07, which is below the industry average of 38.39. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is GHCL Ltd financially healthy?

Key indicators for GHCL Ltd: ROCE of 24.2 % indicates efficient capital utilization; ROE of 18.6 % shows strong shareholder returns. Dividend yield is 2.70 %.

Is GHCL Ltd profitable and how is the profit trend?

GHCL Ltd reported a net profit of ₹624 Cr in Mar 2025 on revenue of ₹3,183 Cr. Compared to ₹647 Cr in Mar 2022, the net profit shows a declining trend.

Does GHCL Ltd pay dividends?

GHCL Ltd has a dividend yield of 2.70 % at the current price of ₹445.00. This is a relatively attractive yield for income-seeking investors.

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 GHCL 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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