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Last Updated: April 2, 2026, 4:42 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 542850 | NSE: GOBLIN

Goblin India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹14.37Undervalued by 131.03%vs CMP ₹6.22

P/E (11.6) × ROE (4.6%) × BV (₹32.80) × DY (2.00%)

₹16.33Undervalued by 162.54%vs CMP ₹6.22
MoS: +61.9% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹17.9824%Under (+189.1%)
Graham NumberEarnings₹19.7814%Under (+218%)
Earnings PowerEarnings₹4.3912%Over (-29.4%)
DCFCash Flow₹3.6112%Over (-42%)
Net Asset ValueAssets₹32.778%Under (+426.8%)
EV/EBITDAEnterprise₹27.7210%Under (+345.7%)
Earnings YieldEarnings₹5.308%Over (-14.8%)
ROCE CapitalReturns₹4.268%Over (-31.5%)
Revenue MultipleRevenue₹40.016%Under (+543.2%)
Consensus (9 models)₹16.33100%Undervalued
Key Drivers: EPS CAGR 25.1% lifts DCF — verify sustainability. | ROE 4.6% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 25.1%

*Investments are subject to market risks

Investment Snapshot

61
Goblin India Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health49/100 · Moderate
ROCE 7.7% WeakROE 4.6% WeakD/E 0.86 ModerateInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 29.4% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-2% → 8%) ImprovingWorking capital: 298 days Capital intensive
Quarterly Momentum90/100 · Strong
Revenue (4Q): +48% YoY AcceleratingProfit (4Q): +185% YoY Strong
Industry Rank65/100 · Strong
P/E 11.6 vs industry 39.6 Cheaper than peersROCE 7.7% vs industry 12.8% AverageROE 4.6% vs industry 24.7% Below peers3Y sales CAGR: 43% 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.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:42 am

Market Cap 8.60 Cr.
Current Price 6.22
Intrinsic Value₹16.33
High / Low 24.7/5.95
Stock P/E11.6
Book Value 32.8
Dividend Yield0.00 %
ROCE7.73 %
ROE4.63 %
Face Value 10.0
PEG Ratio0.46

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

View Share Price Target for Goblin India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Goblin India Ltd 8.60 Cr. 6.22 24.7/5.9511.6 32.80.00 %7.73 %4.63 % 10.0
Deccan Polypacks Ltd 6.87 Cr. 32.5 46.5/13.911.6 64.40.00 %%% 10.0
Cosmo First Ltd 1,638 Cr. 624 1,307/52611.2 5870.64 %9.77 %9.26 % 10.0
Uflex Ltd 2,666 Cr. 369 686/33011.2 1,0700.81 %7.75 %3.29 % 10.0
Shree Rama Multi-Tech Ltd 635 Cr. 47.6 72.0/31.011.2 12.60.00 %15.3 %40.4 % 5.00
Industry Average1,921.04 Cr295.8439.62189.000.36%12.76%24.70%7.38

All Competitor Stocks of Goblin India Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 27.9942.7916.4922.927.5111.2617.7518.5022.0222.4124.9530.3724.92
Expenses 25.8237.8217.2521.297.1413.0317.9417.1020.4020.2821.6030.0822.75
Operating Profit 2.174.97-0.761.630.37-1.77-0.191.401.622.133.350.292.17
OPM % 7.75%11.61%-4.61%7.11%4.93%-15.72%-1.07%7.57%7.36%9.50%13.43%0.95%8.71%
Other Income 0.000.150.010.010.142.031.662.281.270.611.360.830.82
Interest 0.781.180.841.590.881.151.411.551.331.281.170.960.81
Depreciation 0.150.220.210.210.150.130.080.310.330.370.320.340.29
Profit before tax 1.243.72-1.80-0.16-0.52-1.02-0.021.821.231.093.22-0.181.89
Tax % 0.00%0.00%0.00%-18.75%0.00%5.88%0.00%6.04%0.00%-14.68%0.00%344.44%18.52%
Net Profit 1.243.71-1.80-0.13-0.51-1.08-0.021.711.221.253.22-0.801.54
EPS in Rs 1.653.55-1.72-0.12-0.49-1.03-0.021.320.880.902.33-0.581.11

Last Updated: December 26, 2025, 6:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 3:38 am

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 52.3360.7168.2870.7739.4118.7736.2544.4355.3255.29
Expenses 49.7855.1861.4963.6338.5420.1735.0340.6751.6852.83
Operating Profit 2.555.536.797.140.87-1.401.223.763.642.46
OPM % 4.87%9.11%9.94%10.09%2.21%-7.46%3.37%8.46%6.58%4.45%
Other Income 0.050.200.140.150.022.173.931.882.191.65
Interest 1.611.792.441.962.432.032.962.622.131.77
Depreciation 0.180.180.300.370.420.280.390.710.650.63
Profit before tax 0.813.764.194.96-1.96-1.541.802.313.051.71
Tax % 20.99%17.55%17.66%14.52%-1.53%3.90%6.11%-6.93%20.33%
Net Profit 0.633.093.454.24-1.93-1.601.692.482.420.74
EPS in Rs 9.2845.5350.844.06-1.85-1.531.311.791.750.53
Dividend Payout % 0.00%0.55%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)390.48%11.65%22.90%-145.52%17.10%205.62%46.75%-2.42%
Change in YoY Net Profit Growth (%)0.00%-378.83%11.25%-168.42%162.62%188.53%-158.88%-49.16%

Goblin India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:-5%
3 Years:43%
TTM:25%
Compounded Profit Growth
10 Years:%
5 Years:-14%
3 Years:43%
TTM:-22%
Stock Price CAGR
10 Years:%
5 Years:-14%
3 Years:-37%
1 Year:-55%
Return on Equity
10 Years:%
5 Years:0%
3 Years:5%
Last Year:5%

Last Updated: September 5, 2025, 3:36 pm

Balance Sheet

Last Updated: December 10, 2025, 4:24 am

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.680.680.6810.4410.4410.4412.9413.8213.8213.82
Reserves 1.343.707.3017.8615.3913.8518.3826.8129.3431.49
Borrowings 16.8618.8323.1520.4623.8827.5327.0021.7013.0413.16
Other Liabilities 3.9510.075.675.318.416.8514.529.9125.4520.04
Total Liabilities 22.8333.2836.8054.0758.1258.6772.8472.2481.6578.51
Fixed Assets 1.561.422.022.274.343.946.806.533.573.35
CWIP 0.000.000.000.000.000.000.000.000.000.00
Investments 0.000.000.002.500.000.000.000.000.000.00
Other Assets 21.2731.8634.7849.3053.7854.7366.0465.7178.0875.16
Total Assets 22.8333.2836.8054.0758.1258.6772.8472.2481.6578.51

Reserves and Borrowings Chart

Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1.811.82-1.29-7.54-3.04-7.441.711.238.20
Cash from Investing Activity + -0.11-0.02-0.90-3.290.000.26-3.01-0.442.31
Cash from Financing Activity + -0.97-2.081.6911.242.327.131.27-0.79-9.78
Net Cash Flow 0.72-0.28-0.500.41-0.72-0.05-0.03-0.010.73
Free Cash Flow 1.681.78-2.19-8.16-3.06-7.45-1.880.798.01
CFO/OP 78%45%-8%-95%-349%531%141%33%237%

Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-14.31-13.30-16.36-13.32-23.01-28.93-25.78-17.94-9.40

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 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 76.6590.7883.4598.51224.41393.59304.99258.94210.87
Inventory Days 57.9885.84107.74158.08233.42388.77209.37177.62209.55
Days Payable 21.2761.5018.7020.4974.45111.20158.0585.40183.91
Cash Conversion Cycle 113.36115.13172.49236.09383.37671.15356.31351.15236.52
Working Capital Days 35.7146.7181.41154.00305.73799.23441.52394.33298.10
ROCE %26.37%24.40%17.32%0.95%-0.04%6.14%8.18%7.73%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 42.63%39.93%39.93%39.93%39.61%39.61%39.61%39.61%32.37%30.32%29.36%29.36%
FIIs 2.01%4.78%4.78%4.78%5.05%3.66%3.66%2.74%4.39%3.92%3.92%3.92%
DIIs 6.64%5.53%4.89%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public 48.73%49.77%50.41%55.29%55.33%56.72%56.72%57.65%63.24%65.76%66.73%66.72%
No. of Shareholders 458481477723955951891929900966953967

Shareholding Pattern Chart

No. of Shareholders

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

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 1.751.791.30-1.53-1.85
Diluted EPS (Rs.) 1.751.791.30-1.53-1.85
Cash EPS (Rs.) 2.232.301.61-1.26-1.44
Book Value[Excl.RevalReserv]/Share (Rs.) 31.2329.3324.2023.2724.73
Book Value[Incl.RevalReserv]/Share (Rs.) 31.2329.3324.2023.2724.73
Revenue From Operations / Share (Rs.) 40.0332.1528.0117.9837.74
PBDIT / Share (Rs.) 3.784.083.090.390.85
PBIT / Share (Rs.) 3.313.572.790.120.44
PBT / Share (Rs.) 2.201.671.39-1.82-1.88
Net Profit / Share (Rs.) 1.751.791.30-1.53-1.85
NP After MI And SOA / Share (Rs.) 1.751.791.30-1.53-1.85
PBDIT Margin (%) 9.4412.6911.042.182.25
PBIT Margin (%) 8.2611.099.960.701.18
PBT Margin (%) 5.505.204.95-10.13-4.97
Net Profit Margin (%) 4.375.574.65-8.50-4.89
NP After MI And SOA Margin (%) 4.375.574.65-8.50-4.89
Return on Networth / Equity (%) 5.616.105.39-6.56-7.47
Return on Capital Employeed (%) 9.098.897.030.281.21
Return On Assets (%) 2.963.422.31-2.72-3.32
Long Term Debt / Equity (X) 0.160.360.630.880.48
Total Debt / Equity (X) 0.300.530.861.130.86
Asset Turnover Ratio (%) 0.710.610.550.230.63
Current Ratio (X) 2.473.883.054.222.68
Quick Ratio (X) 1.712.922.292.831.58
Inventory Turnover Ratio (X) 2.760.000.010.000.00
Interest Coverage Ratio (X) 2.452.151.350.200.36
Interest Coverage Ratio (Post Tax) (X) 1.851.951.180.030.20
Enterprise Value (Cr.) 39.8685.75113.5248.8647.15
EV / Net Operating Revenue (X) 0.721.933.132.601.20
EV / EBITDA (X) 7.6315.2128.36118.9753.04
MarketCap / Net Operating Revenue (X) 0.501.452.391.150.63
Price / BV (X) 0.641.592.770.880.97
Price / Net Operating Revenue (X) 0.501.452.391.150.63
EarningsYield 0.080.030.01-0.07-0.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Goblin India Ltd. is a Public Limited Listed company incorporated on 26/04/1989 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L51100GJ1989PLC012165 and registration number is 012165. Currently Company is involved in the business activities of T anning and dressing of leather; dressing and dyeing of fur. Company's Total Operating Revenue is Rs. 37.29 Cr. and Equity Capital is Rs. 13.82 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Packaging & ContainersCamex House, 1st Floor, Stadium Commercial Road, Ahmedabad Gujarat 380009Contact not found
Management
NamePosition Held
Mr. Manojkumar ChoukhanyChairman & Managing Director
Mrs. Sonam ChoukhanyWhole Time Director
Mr. Manish AgrawalNon Executive Director
Mr. Yatin Hasmukhlal DoshiExecutive Director
Mr. Deepakkumar Kushalchandra ChaubisaAddnl.Non Exe.Independent Director
Mr. Vimal Laljibhai KalariaAddnl.Non Exe.Independent Director

FAQ

What is the intrinsic value of Goblin India Ltd and is it undervalued?

As of 13 April 2026, Goblin India Ltd's intrinsic value is ₹16.33, which is 162.54% higher than the current market price of ₹6.22, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (4.63 %), book value (₹32.8), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Goblin India Ltd is trading at ₹6.22 as of 13 April 2026, with a FY2026-2027 high of ₹24.7 and low of ₹5.95. The stock is currently near its 52-week low. Market cap stands at ₹8.60 Cr..

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

Goblin India Ltd has a P/E ratio of 11.6, which is below the industry average of 39.62. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Goblin India Ltd financially healthy?

Key indicators for Goblin India Ltd: ROCE of 7.73 % is on the lower side compared to the industry average of 12.76%; ROE of 4.63 % is below ideal levels (industry average: 24.70%). Dividend yield is 0.00 %.

Is Goblin India Ltd profitable and how is the profit trend?

Goblin India Ltd reported a net profit of ₹2 Cr in Mar 2025 on revenue of ₹55 Cr. Compared to ₹-2 Cr in Mar 2022, the net profit shows an improving trend.

Does Goblin India Ltd pay dividends?

Goblin India Ltd has a dividend yield of 0.00 % at the current price of ₹6.22. 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 Goblin India 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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