On 6 Nov 2026, Gaja Alternative Asset Management was priced at ₹134.31, or 23.8× trailing earnings, against an industry P/E of 25.9×, and the shares are 30% below their 52-week high. Sales and net profit grew 2.5% and 25% a year over 3 years, with ROCE of 14% and ROE of 16%. It carries very little debt, and its dividend yield is 0.6%. It is a small-cap company with a market cap of ₹2,596 Cr, ranked 23rd of 69 Asset Management companies by market cap; the shares fell 20% over the past year.
- ₹138.40
- ₹138.40
- ₹133.56
- ₹139.47
- 2 L
Health check
- ReturnsBehind
−20.4% over a year, better than 1 of 7 peers.
- Price tagIn line
P/E 23.8 vs industry 25.9.
- GrowthSlow
Sales +2.5%, profit +24.7% a year over 3 years.
- ProfitabilityWeak
ROCE 13.9% vs peer median 38.5%.
- Balance sheetStretched
Practically debt-free, Piotroski 2 of 9.
- Red flags1 to check
Quarterly sales down 5.3% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,596 Cr
- Small cap
- P/E
- 23.8
- Industry 25.9
- Price to book
- 1.51
- Peers 13.19
- Dividend yield
- 0.56%
- ROE
- 16.0%
- Peers 35.3%
- ROCE
- 13.9%
- Peers 38.5%
- Debt to equity
- 0.01
- Debt ₹13 Cr
- EPS (TTM)
- ₹5.65
- Face value ₹5
- OPM (TTM)
- 79.3%
- Net margin 66.6%
- Sales growth
- −5.3%
- Latest quarter vs a year ago
- Profit growth
- +40.9%
- Latest quarter vs a year ago
- Price to sales
- 15.84
- EV/EBITDA 10.0
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 40.9% on a year ago.
- Net margin of 66.6%.
Risks to check
- Quarterly sales down 5.3% on a year ago.
About Gaja Alternative Asset Management
Gaja Alternative Asset Management Limited is a private equity and venture capital firm specializing in turnaround, series C and investments in smaller end of middle market. The firm prefers to invest through growth capital and buyout. It also invests in acquisitions and shareholder settlement and considers buy-outs, turnarounds, and pre-IPO deals given an underlying growth thesis. It also invests in listed companies. The firm seeks to invest in technology…
- Headquarters
- Mumbai
- Employees
- 23
- Sector
- Financial Services
- ISIN
- INE18UN01038
- Website
- gajacapital.com
Price range
- Avg volume (3M)
- 26.9 L
- 1-year return
- minus 20.4%
- From 52-week high
- minus 29.9%
Peers · Asset Management
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JIOFINJio Financial Services | 231.20 | plus 0.69% | 1,58,445 | 87.9 | 1.19 | 1.7% | 1.3% | 75.8% | 431.5% | 268.2% | 0.26% | minus 23.9% |
| ICICIAMCICICI Prudential Asset Management Company | 2,935.80 | minus 1.45% | 1,45,104 | 41.1 | 27.16 | 98.3% | 76.2% | 74.1% | 28.9% | 29.6% | 1.44% | plus 13.5% |
| BAJAJHLDNGBajaj Holdings & Investment | 11,044.00 | plus 1.80% | 1,22,913 | 13.2 | 1.67 | – | 11.6% | 78.8% | 19.0% | 25.7% | 1.18% | minus 10.3% |
| HDFCAMCHDFC Asset Management Company | 2,649.80 | plus 0.37% | 1,13,701 | 38.3 | 13.19 | 38.5% | 36.4% | 81.4% | 23.9% | 26.2% | 2.04% | minus 2.3% |
| SBIFUNDSSBI Funds Management | 499.55 | minus 1.30% | 1,01,750 | 33.3 | 13.47 | – | 40.4% | 78.5% | – | – | 0.00% | minus 18.1% |
| NAM-INDIANippon Life India Asset Management | 1,065.20 | minus 0.37% | 68,177 | 42.8 | 14.29 | 40.0% | 35.3% | 67.3% | 26.1% | 28.3% | 2.07% | plus 21.3% |
| 360ONE360 ONE WAM | 1,145.00 | plus 0.36% | 49,107 | 38.7 | 4.50 | 13.5% | 12.7% | 47.3% | 24.0% | 22.7% | 1.18% | plus 5.7% |
| GAJAGaja Alternative Asset Management | 134.31 | minus 3.70% | 1,894 | 23.8 | 1.51 | 13.9% | 16.0% | 64.1% | 2.5% | 24.7% | 0.56% | minus 20.4% |
| Median of 7 peers | – | 0.36% | 1,13,701 | 38.7 | 13.19 | 38.5% | 35.3% | 75.8% | 25.0% | 27.2% | 1.18% | −2.3% |
Quarterly results
This company doesn’t report these figures in a format we can read yet.
Profit & loss
- Sales CAGR 3Y
- +2.5%
- Profit CAGR 3Y
- +24.7%
- EPS CAGR 3Y
- +24.7%
- ROE
- 16.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 55.8 | 77.2 | 57.6 | 60.1 | |
| – | +38.4% | minus 25.5% | +4.4% | |
| 53 | 28 | −10.9 | −13.1 | |
| 2.8 | 49.3 | 68.5 | 73.2 | |
| 5.0% | 63.8% | 119.0% | 121.7% | |
| 1.2 | 1.4 | 1.3 | 4.6 | |
| 0.9 | 1.2 | 0.9 | 4 | |
| 1.5 | 1.4 | 2.4 | 2.9 | |
| 56.4 | 6.9 | −7.7 | 16.5 | |
| 58 | 55 | 58.8 | 87.4 | |
| 28.8% | 18.6% | −5.3% | 6.2% | |
| 41.1 | 44.5 | 59.5 | 79.7 | |
| – | +8.3% | +33.7% | +33.8% | |
| 2.92 | 3.16 | 4.22 | 5.65 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0 | 0 | 0 | 56.4 | |
| 287 | 332 | 389 | 550 | |
| 11.7 | 10.2 | 9.8 | 53.2 | |
| 40.8 | 46.6 | 53.1 | 46.8 | |
| 340 | 389 | 452 | 706 | |
| 7.1 | 7.3 | 5.7 | 16.4 | |
| – | – | – | 4.3 | |
| 240 | 252 | 238 | 360 | |
| 16.1 | 28 | 33.4 | 138 | |
| 77.1 | 102 | 175 | 188 | |
| 340 | 389 | 452 | 706 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −6.2 | 20.9 | −8.8 | −15 | |
| −14.3 | −6.2 | 14.2 | −109 | |
| 2 | −5.6 | −6.8 | 152 | |
| −18.6 | 9.1 | −1.3 | 27.9 | |
| −0.3 | −1.6 | −0.4 | −5.9 | |
| −6.6 | 19.3 | −9.2 | −20.9 | |
| – | −5.1 | −5.2 | −5.6 |
Shareholding pattern
- Promoters54.23%
- Public45.77%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 54.23% | 45.77% | 0.00 | |
| 25 Aug 2026 | 54.23% | 45.77% | – |
Major shareholders
Filings & events
News
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