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Swing Capital

Gretex Corporate Services Ltd

NSE: GCSL BSE: 543324Banking

Gretex Corporate Services Ltd (GCSL) is a Banking company listed on NSE: GCSL | BSE: 543324. With a market cap of ₹926 Cr and ROCE of 10.5%, ROE of 7.05%, it operates in the Indian Banking sector.

₹395
52W: ₹213 — ₹410
PE 71.2 · Book ₹93.9 · +321% vs book
Market Cap₹926 Cr
Stock P/E71.2Price to Earnings
ROCE10.5%Return on Capital
ROE7.05%Return on Equity
Div. Yield0.12%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 78.4% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 4.20 times its book value
  • −Promoter holding has decreased over last quarter: -1.63%
  • −Company has a low return on equity of 9.10% over last 3 years.
  • −Debtor days have increased from 31.4 to 44.4 days.
  • −Working capital days have increased from 67.1 days to 159 days

Shareholding Pattern

Promoters61.64%
FIIs1.1%
DIIs0.41%
Public36.84%
CategorySep 2023Mar 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.24%66.24%66.24%64.01%▼2.263.27%▼0.763.27%63.27%61.64%▼1.6
FIIs0%0%0%0%0%0%1.23%▲1.21.1%▼0.1
DIIs0%0%0%0%0%0%0.27%▲0.30.41%▲0.1
Public33.76%33.76%33.76%35.98%▲2.236.73%▲0.836.74%▲0.035.23%▼1.536.84%▲1.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4.717.127.445.690.626.954.9513.918.216.04
Expenses2.092.465.635.723.453.293.753.22.942.86
Operating Profit2.624.661.81-0.03-2.833.661.210.715.273.18
OPM %55.63%65.45%24.33%-0.53%-456.45%52.66%24.24%76.99%64.19%52.65%
Net Profit2.362.771.280.487.812.920.418.12.352.14
EPS ₹1.081.260.580.213.461.290.183.581.040.91

AI Insights

Revenue Trend

Mar 2026 revenue at ₹33Cr, down 2.9% YoY. OPM at 62%.

Debt Position

Borrowings at ₹2Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Institutional Flow

DIIs: 0.41% (+0.41pp change). FIIs: 1.1% (+1.10pp change). Promoters hold 61.64%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 10% (Mar 2026). Working capital days: 159.

Valuation

PE 71.2x with 10.5% ROCE. Price is 321% above book value of ₹93.9. Dividend yield: 0.12%.

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