Gratex Industries Ltd: Intrinsic Value & Share Price Analysis

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

Gratex Industries Ltd is trading at 17.40 as of 21 April 2026, with a FY2026-2027 high of 26.2 and low of 14.2. The stock is currently in the middle of its 52-week range. Market cap stands at 5.26 Cr..

Q: Is Gratex Industries Ltd financially healthy?

Key indicators: ROCE of 3.85 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Gratex Industries Ltd profitable and how is the profit trend?

Gratex Industries Ltd reported a net profit of 0 Cr in Mar 2025 on revenue of 4 Cr. Compared to 0 Cr in Mar 2022, the net profit shows a declining trend.

Fair Value

₹14.65Overvalued by 15.80%vs CMP ₹17.40

P/E (58.4) × ROE (2.5%) × BV (₹12.20) × DY (2.00%)

₹9.01Overvalued by 48.22%vs CMP ₹17.40

MoS: -93.1% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹14.37	23%	Over (-17.4%)
Graham Number	Earnings	₹9.07	16%	Over (-47.9%)
Earnings Power	Earnings	₹2.72	11%	Over (-84.4%)
DCF	Cash Flow	₹3.01	14%	Over (-82.7%)
Net Asset Value	Assets	₹12.21	7%	Over (-29.8%)
EV/EBITDA	Enterprise	₹18.13	9%	Fair (+4.2%)
Earnings Yield	Earnings	₹3.00	7%	Over (-82.8%)
ROCE Capital	Returns	₹1.72	7%	Over (-90.1%)
Revenue Multiple	Revenue	₹12.40	5%	Over (-28.7%)
Consensus (9 models)		₹9.01	100%	Overvalued

Key Drivers: ROE 2.5% is below cost of equity. | Wide model spread (₹2–₹18) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -1.9%

*Investments are subject to market risks

Analyst Summary

Gratex Industries Ltd operates in the Paper & Paper Products segment, NSE: GRATEXI | BSE: 526751, current market price is ₹17.40, market cap is 5.26 Cr.. At a glance, stock P/E is 58.4, ROE is 2.52 %, ROCE is 3.85 %, book value is 12.2, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹9.01, around 48.2% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹4 Cr versus the prior period change of -6.0%, while latest net profit is about ₹0 Cr with a prior-period change of -22.2%. This analysis page also carries profit and loss, shareholding pattern, ratio panels data, which improves the depth of the template beyond a thin price-only snapshot. The 52-week range shown on this page is 26.2/14.2, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisGratex Industries Ltd. is a Public Limited Listed company incorporated on 23/02/1984 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L21093MH1984PLC032248 and registration number is 032248. Currently Company is i…

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

Investment Snapshot

Gratex Industries Ltd scores 40/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health58/100 · Moderate

ROCE 3.9% WeakROE 2.5% WeakD/E 0.02 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 61.9% Stable

Earnings Quality40/100 · Moderate

OPM stable around 8% SteadyWorking capital: 229 days Capital intensive

Quarterly Momentum25/100 · Weak

Revenue (4Q): -7% YoY DecliningProfit (4Q): 0% YoY Declining

Industry Rank15/100 · Weak

P/E 58.4 vs industry 25.3 Premium to peersROCE 3.9% vs industry 9.3% Below peersROE 2.5% vs industry 134.8% Below peers3Y sales CAGR: 7% Slow

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 1, 2026, 5:13 am

Market Cap	5.26 Cr.
Current Price	17.4
Intrinsic Value	₹9.01
High / Low	26.2/14.2
Stock P/E	58.4
Book Value	12.2
Dividend Yield	0.00 %
ROCE	3.85 %
ROE	2.52 %
Face Value	10.0
PEG Ratio	-30.93

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Gratex Industries Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Gratex Industries Ltd	5.26 Cr.	17.4	26.2/14.2	58.4	12.2	0.00 %	3.85 %	2.52 %	10.0
Ganga Papers India Ltd	74.0 Cr.	68.6	111/68.6	51.0	29.0	0.00 %	6.44 %	5.19 %	10.0
Genus Paper & Boards Ltd	266 Cr.	10.4	22.0/8.65	28.3	20.3	0.00 %	4.73 %	0.61 %	1.00
Cella Space Ltd	27.1 Cr.	13.4	19.3/9.55	28.2	10.3	0.00 %	10.7 %	%	10.0
West Coast Paper Mills Ltd	2,877 Cr.	434	583/375	20.2	536	1.15 %	11.5 %	9.49 %	2.00
Industry Average	694.36 Cr	69.41		25.25	107.28	0.86%	9.32%	134.80%	6.50

All Competitor Stocks of Gratex Industries 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	1.30	1.02	1.05	0.96	1.05	0.94	1.01	1.04	1.01	0.70	0.91	1.11	0.99
Expenses	1.21	0.93	0.97	0.92	0.99	0.86	0.96	0.99	0.91	0.64	0.85	1.04	0.92
Operating Profit	0.09	0.09	0.08	0.04	0.06	0.08	0.05	0.05	0.10	0.06	0.06	0.07	0.07
OPM %	6.92%	8.82%	7.62%	4.17%	5.71%	8.51%	4.95%	4.81%	9.90%	8.57%	6.59%	6.31%	7.07%
Other Income	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
Interest	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
Depreciation	0.03	0.03	0.03	0.03	0.04	0.03	0.04	0.04	0.04	0.04	0.03	0.03	0.03
Profit before tax	0.06	0.06	0.05	0.01	0.02	0.05	0.01	0.01	0.06	0.02	0.03	0.04	0.04
Tax %	16.67%	-16.67%	20.00%	0.00%	50.00%	20.00%	0.00%	0.00%	33.33%	50.00%	33.33%	25.00%	25.00%
Net Profit	0.04	0.06	0.03	0.00	0.02	0.03	0.01	0.00	0.05	0.01	0.02	0.03	0.03
EPS in Rs	0.13	0.20	0.10	0.00	0.07	0.10	0.03	0.00	0.16	0.03	0.07	0.10	0.10

Last Updated: March 3, 2026, 9:26 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 6:25 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	7.28	0.80	1.26	1.21	1.99	3.35	3.47	1.86	3.02	4.26	3.99	3.75	3.71
Expenses	6.67	0.61	0.92	0.92	1.61	3.08	3.09	1.72	2.74	3.90	3.70	3.45	3.45
Operating Profit	0.61	0.19	0.34	0.29	0.38	0.27	0.38	0.14	0.28	0.36	0.29	0.30	0.26
OPM %	8.38%	23.75%	26.98%	23.97%	19.10%	8.06%	10.95%	7.53%	9.27%	8.45%	7.27%	8.00%	7.01%
Other Income	-0.36	-0.25	-0.32	0.01	0.02	0.00	0.00	0.03	0.00	0.00	-0.02	-0.03	0.00
Interest	0.03	0.00	0.00	0.01	0.01	0.04	0.02	0.02	0.02	0.01	0.01	0.01	0.00
Depreciation	0.09	0.14	0.11	0.10	0.10	0.16	0.13	0.11	0.12	0.13	0.13	0.16	0.13
Profit before tax	0.13	-0.20	-0.09	0.19	0.29	0.07	0.23	0.04	0.14	0.22	0.13	0.10	0.13
Tax %	-84.62%	-15.00%	-11.11%	0.00%	24.14%	-14.29%	26.09%	25.00%	28.57%	18.18%	23.08%	30.00%
Net Profit	0.24	-0.17	-0.08	0.19	0.22	0.07	0.16	0.02	0.10	0.19	0.09	0.07	0.09
EPS in Rs	0.79	-0.56	-0.26	0.63	0.72	0.23	0.53	0.07	0.33	0.63	0.30	0.23	0.30
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-170.83%	52.94%	337.50%	15.79%	-68.18%	128.57%	-87.50%	400.00%	90.00%	-52.63%	-22.22%
Change in YoY Net Profit Growth (%)	0.00%	223.77%	284.56%	-321.71%	-83.97%	196.75%	-216.07%	487.50%	-310.00%	-142.63%	30.41%

Gratex Industries 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:	17%
5 Years:	2%
3 Years:	7%
TTM:	-8%

Compounded Profit Growth
10 Years:	1%
5 Years:	-11%
3 Years:	-3%
TTM:	33%

Stock Price CAGR
10 Years:	8%
5 Years:	17%
3 Years:	-10%
1 Year:	8%

Return on Equity
10 Years:	5%
5 Years:	3%
3 Years:	4%
Last Year:	3%

Last Updated: September 5, 2025, 3:40 pm

Balance Sheet

Last Updated: February 1, 2026, 2:54 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	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.03
Reserves	-0.18	-0.46	-0.54	-0.34	-0.11	-0.11	0.05	0.09	0.19	0.38	0.47	0.61	0.66
Borrowings	0.31	0.04	0.04	0.06	0.46	0.15	0.11	0.09	0.12	0.06	0.08	0.05	0.04
Other Liabilities	0.46	0.12	0.09	0.10	0.30	0.35	0.35	0.28	0.47	0.64	0.62	0.40	0.60
Total Liabilities	3.62	2.73	2.62	2.85	3.68	3.42	3.54	3.49	3.81	4.11	4.20	4.09	4.33
Fixed Assets	1.15	0.93	0.86	0.83	1.24	1.18	1.08	0.98	1.01	1.08	1.03	1.04	1.00
CWIP	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
Investments	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
Other Assets	2.47	1.80	1.76	2.02	2.44	2.24	2.46	2.51	2.80	3.03	3.17	3.05	3.33
Total Assets	3.62	2.73	2.62	2.85	3.68	3.42	3.54	3.49	3.81	4.11	4.20	4.09	4.33

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 +	0.09	0.14	0.05	0.02	0.07	0.48	0.10	0.04	0.15	0.26	0.06	0.21
Cash from Investing Activity +	-0.05	-0.03	-0.04	-0.06	-0.50	-0.10	-0.04	0.00	-0.15	-0.19	-0.08	-0.17
Cash from Financing Activity +	-0.03	-0.12	0.00	0.02	0.40	-0.35	-0.06	-0.03	0.01	-0.07	0.02	-0.04
Net Cash Flow	0.01	0.00	0.00	-0.02	-0.03	0.02	0.00	0.01	0.00	0.00	0.00	0.00
Free Cash Flow	0.04	0.11	0.01	-0.04	-0.43	0.38	0.06	0.03	0.00	0.07	-0.02	0.04
CFO/OP	15%	74%	15%	7%	37%	196%	32%	79%	71%	86%	24%	83%

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	0.30	0.15	0.30	0.23	-0.08	0.12	0.27	0.05	0.16	0.30	0.21	0.25

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	0.00	0.00	0.00	467.56	291.63	173.24	159.88	186.42	95.48	77.11	67.69	35.04
Inventory Days	0.00			1,662.78	533.98	164.39	256.74	859.27	558.03	345.05	478.77	581.96
Days Payable				0.00	94.63	39.01	40.21	91.25	91.25	71.80	71.10	48.50
Cash Conversion Cycle	0.00	0.00	0.00	2,130.34	730.99	298.62	376.41	954.45	562.26	350.36	475.36	568.50
Working Capital Days	60.16	606.81	472.18	564.09	315.48	207.01	227.20	386.59	242.93	179.93	207.66	228.73
ROCE %	17.13%	1.73%	8.95%	7.58%	9.79%	3.41%	7.99%	1.88%	4.89%	6.75%	4.54%	3.85%

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	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%	61.91%
Public	38.09%	38.09%	38.09%	38.09%	38.09%	38.09%	38.10%	38.10%	38.10%	38.09%	38.09%	38.10%
No. of Shareholders	3,727	3,708	3,709	3,741	3,751	3,771	3,760	3,758	3,760	3,776	3,765	3,752

Shareholding Pattern Chart

No. of Shareholders

Gratex Industries 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

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.)	0.24	0.31	0.62	0.33	0.08
Diluted EPS (Rs.)	0.24	0.31	0.62	0.33	0.08
Cash EPS (Rs.)	0.74	0.74	1.03	0.71	0.44
Book Value[Excl.RevalReserv]/Share (Rs.)	12.01	11.55	11.24	10.62	10.29
Book Value[Incl.RevalReserv]/Share (Rs.)	12.01	11.55	11.24	10.62	10.29
Revenue From Operations / Share (Rs.)	12.36	13.16	14.03	9.96	6.16
PBDIT / Share (Rs.)	0.90	0.87	1.20	0.91	0.54
PBIT / Share (Rs.)	0.38	0.44	0.78	0.52	0.17
PBT / Share (Rs.)	0.35	0.40	0.74	0.45	0.12
Net Profit / Share (Rs.)	0.23	0.30	0.61	0.32	0.07
PBDIT Margin (%)	7.28	6.67	8.52	9.14	8.90
PBIT Margin (%)	3.13	3.35	5.58	5.22	2.90
PBT Margin (%)	2.86	3.08	5.29	4.57	2.01
Net Profit Margin (%)	1.90	2.35	4.41	3.27	1.22
Return on Networth / Equity (%)	1.96	2.68	5.50	3.07	0.73
Return on Capital Employeed (%)	3.13	3.66	6.73	4.68	1.67
Return On Assets (%)	1.73	2.22	4.55	2.59	0.65
Long Term Debt / Equity (X)	0.01	0.01	0.00	0.01	0.01
Total Debt / Equity (X)	0.01	0.02	0.01	0.03	0.02
Asset Turnover Ratio (%)	0.90	0.95	1.07	0.82	0.53
Current Ratio (X)	7.54	5.11	4.58	5.46	8.89
Quick Ratio (X)	1.22	1.48	1.64	1.95	4.31
Inventory Turnover Ratio (X)	1.75	0.95	0.00	0.00	0.00
Interest Coverage Ratio (X)	26.49	24.67	28.75	14.09	10.11
Interest Coverage Ratio (Post Tax) (X)	7.92	9.71	15.88	6.05	2.39
Enterprise Value (Cr.)	6.02	5.45	4.51	3.30	3.54
EV / Net Operating Revenue (X)	1.61	1.37	1.06	1.09	1.89
EV / EBITDA (X)	22.04	20.47	12.41	11.93	21.27
MarketCap / Net Operating Revenue (X)	1.59	1.35	1.05	1.05	1.85
Price / BV (X)	1.64	1.53	1.31	0.98	1.11
Price / Net Operating Revenue (X)	1.59	1.35	1.05	1.05	1.85
EarningsYield	0.01	0.01	0.04	0.03	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Gratex Industries Ltd. is a Public Limited Listed company incorporated on 23/02/1984 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L21093MH1984PLC032248 and registration number is 032248. Currently Company is involved in the business activities of Manufacture of wall paper. Company's Total Operating Revenue is Rs. 3.75 Cr. and Equity Capital is Rs. 3.03 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Paper & Paper Products	Gratex House, A73, TTC Industrial Area,MIDC, Navi mumbai Maharashtra 400703	Contact not found

Management
Name	Position Held
Mr. Baldevkrishan Sharma	Chairman & Director
Mr. Karan Baldevkrishan Sharma	Managing Director
Ms. Mona Pratap Menon	Director & CFO
Mr. Prashant Sawant	Independent Director
Ms. Akanksha Bector	Independent Director

FAQ

What is the intrinsic value of Gratex Industries Ltd and is it undervalued?

As of 21 April 2026, Gratex Industries Ltd's intrinsic value is ₹9.01, which is 48.22% lower than the current market price of ₹17.40, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.52 %), book value (₹12.2), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Gratex Industries Ltd is trading at ₹17.40 as of 21 April 2026, with a FY2026-2027 high of ₹26.2 and low of ₹14.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹5.26 Cr..

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

Gratex Industries Ltd has a P/E ratio of 58.4, which is above the industry average of 25.25. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Gratex Industries Ltd financially healthy?

Key indicators for Gratex Industries Ltd: ROCE of 3.85 % is on the lower side compared to the industry average of 9.32%; ROE of 2.52 % is below ideal levels (industry average: 134.80%). Dividend yield is 0.00 %.

Is Gratex Industries Ltd profitable and how is the profit trend?

Gratex Industries Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹4 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows a declining trend.

Does Gratex Industries Ltd pay dividends?

Gratex Industries Ltd has a dividend yield of 0.00 % at the current price of ₹17.40. The company is currently not paying meaningful dividends.