As of 6 Nov 2026, Ganges Securities trades at 38.8× trailing earnings, above the industry P/E of 19.5×, and the shares are 32% below their 52-week high. Sales and net profit fell 4.3% and 35% a year over 3 years, with ROCE of 0.8% and ROE of 0.4%. It carries very little debt. It is a small-cap company with a market cap of ₹112 Cr, ranked 81st of 127 Packaged Foods companies by market cap; the shares fell 23% over the past year.
- ₹116.00
- ₹116.00
- ₹109.19
- ₹117.38
- 1.2K
Health check
- ReturnsBehind
−22.9% over a year, better than 2 of 7 peers.
- Price tagPricier
P/E 38.8 vs industry 19.5.
- GrowthShrinking
Sales −4.3%, profit −34.9% a year over 3 years.
- ProfitabilityWeak
ROCE 0.8% vs peer median 15.3%.
- Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
- Red flags3 to check
Return on equity is low at 0.4%.
Small cap
Defensive
Key metrics
- Market cap
- ₹112 Cr
- Small cap
- P/E
- 38.8
- Industry 19.5
- Price to book
- 0.21
- Peers 8.88
- Dividend yield
- 0.00%
- ROE
- 0.4%
- Peers 14.8%
- ROCE
- 0.8%
- Peers 15.3%
- Debt to equity
- 0.00
- Debt ₹0.07 Cr
- EPS (TTM)
- ₹2.89
- Face value ₹10
- OPM (TTM)
- 9.9%
- Net margin 7.6%
- Sales growth
- +21.2%
- Latest quarter vs a year ago
- Profit growth
- +18.5%
- Latest quarter vs a year ago
- Price to sales
- 2.95
- EV/EBITDA 18.1
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 21.2% on a year ago.
Risks to check
- Return on equity is low at 0.4%.
- P/E of 38.8 against an industry P/E of 19.5.
- 32% below its 52-week high.
About Ganges Securities
Ganges Securities Limited, through its subsidiaries, engages in the manufacture and sale of tea and other related agricultural produce in India. It also invests and deals in securities and in immovable properties. The company was incorporated in 2015 and is based in Kolkata, India.
- Headquarters
- Kolkata
- Employees
- 2
- Sector
- Consumer Defensive
- ISIN
- INE335W01016
- Website
- birla-sugar.com
Price range
- Avg volume (3M)
- 2.2K
- 1-year return
- minus 22.9%
- From 52-week high
- minus 32.0%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| GANGESSECUGanges Securities | 112.03 | minus 4.56% | 112 | 38.8 | 0.21 | 0.8% | 0.4% | 9.9% | −4.3% | −34.9% | 0.00% | minus 22.9% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 6.4 | 15.5 | 11.2 | 3 | 7.7 | |
| 5.5 | 11.2 | 9 | 6.6 | 6.9 | |
| 0.9 | 4.3 | 2.2 | −3.6 | 0.8 | |
| 13.9% | 27.8% | 19.8% | −120.4% | 10.2% | |
| 0.6 | 0.7 | 0.2 | 0.2 | 0.9 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |
| 1.3 | 4.8 | 2.2 | −3.7 | 1.5 | |
| 21.7% | 39.3% | 33.8% | 26.2% | 16.2% | |
| 1 | 2.9 | 1.5 | −2.7 | 1.2 | |
| 1.03 | 2.91 | 1.46 | -2.70 | 1.22 |
Profit & loss
- Sales CAGR 3Y
- −4.3%
- Profit CAGR 3Y
- −34.9%
- EPS CAGR 3Y
- −34.9%
- ROE
- 0.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 41.2 | 34.8 | 38 | 36.1 | |
| – | minus 15.6% | +9.1% | minus 4.9% | |
| 29.7 | 28.7 | 31.3 | 31.7 | |
| 11.5 | 6.1 | 6.6 | 4.5 | |
| 27.9% | 17.5% | 17.5% | 12.3% | |
| 1.3 | 0.5 | 0.4 | 0.4 | |
| 0.2 | 0 | 0 | 0 | |
| 0.7 | 0.8 | 1 | 0.8 | |
| 0.7 | 0.1 | −0.3 | 0.5 | |
| 12.7 | 5.9 | 5.7 | 4.6 | |
| 23.1% | 41.1% | 10.7% | 42.0% | |
| 9.7 | 3.5 | 5.1 | 2.7 | |
| – | minus 64.3% | +45.5% | minus 46.9% | |
| 9.74 | 3.48 | 5.06 | 2.69 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10 | 10 | 10 | 10 | |
| 441 | 535 | 666 | 530 | |
| 0 | – | – | – | |
| 6.1 | 25.1 | 56.2 | 40.9 | |
| 457 | 570 | 732 | 581 | |
| 13 | 13.1 | 13.7 | 13.8 | |
| 2.3 | 0.8 | 1.2 | 0.2 | |
| 384 | 494 | 668 | 536 | |
| 35.6 | 40.3 | 35.7 | 5.6 | |
| 22.3 | 22.4 | 14 | 25.2 | |
| 457 | 570 | 732 | 581 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 23.1 | −5.2 | 21.3 | 22.1 | |
| −21.3 | −0.9 | −19.1 | −23.8 | |
| −2.8 | −0 | −0 | −0 | |
| −1 | −6.1 | 2.2 | −1.7 | |
| −1.9 | −0.9 | −1.5 | −1.6 | |
| 21.2 | −6.1 | 19.8 | 20.5 | |
| −0.4 | – | – | – |
Shareholding pattern
- Promoters66.64%
- Public33.36%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 66.64% | 33.36% | 0.00 | |
| 30 Jun 2026 | 66.64% | 33.36% | 0.00 | |
| 31 Mar 2026 | 66.64% | 33.36% | 0.00 | |
| 31 Dec 2025 | 66.64% | 33.36% | 0.00 | |
| 30 Sep 2025 | 66.64% | 33.36% | – |
Major shareholders
Filings & events
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