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Swing Capital

Godrej Industries Ltd

NSE: GODREJIND BSE: 500164

Godrej Industries is one of the holding companies of Godrej Group. It is one of the leading manufacturers of oleochemicals on a standalone basis.

₹1,165
52W: ₹744 — ₹1392
PE 567 · Book ₹52.5 · +2119% vs book
Market Cap₹39,234 Cr
Stock P/E567Price to Earnings
ROCE7.38%Return on Capital
ROE3.99%Return on Equity
Div. Yield0%Face Value ₹1

Weaknesses

  • −Stock is trading at 22.0 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −Tax rate seems low
  • −Company has a low return on equity of -0.54% over last 3 years.
  • −Earnings include an other income of Rs.271 Cr.

Shareholding Pattern

Promoters74.63%
FIIs4.47%
DIIs3.47%
Public17.43%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.16%67.69%▲0.565.73%▼2.069.65%▲3.970.97%▲1.371.31%▲0.374.64%▲3.374.63%▼0.0
FIIs8.02%8.38%▲0.48.24%▼0.16.97%▼1.35.66%▼1.35.12%▼0.54.86%▼0.34.47%▼0.4
DIIs5.01%4.76%▼0.34.42%▼0.32.49%▼1.92.54%▲0.02.77%▲0.23.29%▲0.53.47%▲0.2
Public19.81%19.17%▼0.621.61%▲2.420.89%▼0.720.83%▼0.120.81%▼0.017.22%▼3.617.43%▲0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales7476849861,0751,0231,0861,0181,3301,2271,234
Expenses6086847137588349578581,0311,0781,121
Operating Profit1390273317189130160299149112
OPM %19%0%28%30%18%12%16%22%12%9%
Net Profit-14-1541051530-68-3099-2113
EPS ₹-0.43-4.583.134.530.01-2.03-0.892.94-0.620.39

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4,809Cr, up 15.3% YoY. OPM at 15%.

Debt Position

Borrowings at ₹11,063Cr. Debt-to-equity ratio: 6.37x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹58Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 3.47% (+1.63pp change). FIIs: 4.47% (-6.29pp change). Promoters hold 74.63%.

Margin & Efficiency

ROCE improving from 2% (Mar 2015) to 7% (Mar 2026). Working capital days: -381.

Valuation

PE 567x with 7.38% ROCE. Price is 2119% above book value of ₹52.5. Dividend yield: 0%.

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