On 6 Nov 2026, Garg Furnace was priced at ₹179.80, or 10.2× trailing earnings, against an industry P/E of 19.9×, and the shares are 30% below their 52-week high. It earns ROCE of 8.0% and ROE of 13%, and sales and net profit grew 6.7% and 20% a year over 3 years. Debt is 0.13× equity. It is a small-cap company with a market cap of ₹90 Cr, ranked 106th of 150 Steel companies by market cap; the shares rose 15% over the past year.
- ₹186.00
- ₹186.00
- ₹176.55
- ₹182.95
- 1.6K
Health check
- ReturnsIn line
+15.2% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 10.2 vs industry 19.9.
- GrowthSteady
Sales +6.7%, profit +20.1% a year over 3 years.
- ProfitabilityWeak
ROCE 8.0% vs peer median 18.7%.
- Balance sheetStretched
Debt 0.13× equity, interest covered 25.5×, Piotroski 2 of 9.
- Red flags1 to check
Quarterly sales down 1.7% on a year ago.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹90 Cr
- Small cap
- P/E
- 10.2
- Industry 19.9
- Price to book
- 1.24
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 12.8%
- Peers 23.4%
- ROCE
- 8.0%
- Peers 18.7%
- Debt to equity
- 0.13
- Debt ₹18 Cr
- EPS (TTM)
- ₹17.71
- OPM (TTM)
- 5.1%
- Net margin 3.7%
- Sales growth
- −1.7%
- Latest quarter vs a year ago
- Profit growth
- +38.1%
- Latest quarter vs a year ago
- Price to sales
- 0.31
- EV/EBITDA 11.2
Strengths and risks
Strengths
- Quarterly profit up 38.1% on a year ago.
- P/E of 10.2 against an industry P/E of 19.9.
Risks to check
- Quarterly sales down 1.7% on a year ago.
About Garg Furnace
Garg Furnace Limited manufactures and trades in iron and steel products in India. The company offers mild steel (MS) round, billet, ingot, and wire rod and round bar products; and alloy and non-alloy stainless steel products. It also manufactures self-drilling screws for use in construction, solar, aerospace, automotive, electrical, and manufacturing industries under the TAGIT brand name. The company was incorporated in 1973 and is based in Ludhiana,…
- Headquarters
- Ludhiana
- Employees
- 55
- Sector
- Basic Materials
- ISIN
- INE194E01015
- Website
- gargfurnacelimited.com
Price range
- Avg volume (3M)
- 16.4K
- 1-year return
- plus 15.2%
- From 52-week high
- minus 29.6%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| GARGFURGarg Furnace | 179.80 | minus 1.72% | 90 | 10.2 | 8.0 | 8.0% | 5.1% | 0.13 | 6.7% | plus 15.2% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 60.2 | 61.7 | 94.2 | 78.5 | 59.2 | |
| 58.7 | 58.5 | 89.9 | 74.3 | 55.9 | |
| 1.5 | 3.2 | 4.3 | 4.2 | 3.2 | |
| 2.5% | 5.3% | 4.6% | 5.4% | 5.4% | |
| 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 0 | 0 | 0 | 0.4 | 0.4 | |
| 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | |
| 1.2 | 2.9 | 3.9 | 3.4 | 2.5 | |
| – | 1.3% | 1.8% | 22.7% | 28.7% | |
| 1.2 | 2.8 | 3.8 | 2.6 | 1.7 | |
| 2.23 | 4.83 | 6.15 | 4.20 | 2.53 |
Profit & loss
- Sales CAGR 3Y
- +6.7%
- Profit CAGR 3Y
- +20.1%
- EPS CAGR 3Y
- +3.3%
- ROE
- 12.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 238 | 258 | 262 | 289 | |
| – | +8.3% | +1.4% | +10.6% | |
| 231 | 252 | 254 | 276 | |
| 7.7 | 6 | 7.7 | 12.9 | |
| 3.2% | 2.3% | 2.9% | 4.5% | |
| 0.2 | 1.3 | 1.7 | 0.5 | |
| 0.2 | 0.2 | 0.1 | 0.5 | |
| 1.4 | 1.6 | 1.6 | 1.9 | |
| −0.4 | – | 0 | 0 | |
| 5.9 | 5.6 | 7.6 | 11.1 | |
| – | – | – | 7.0% | |
| 5.9 | 5.6 | 7.6 | 10.3 | |
| – | minus 6.4% | +37.4% | +34.8% | |
| 14.82 | 11.60 | 14.16 | 16.36 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4 | 4.6 | 5 | 6.8 | |
| 16.7 | 44.1 | 57.2 | 92.2 | |
| 4.8 | 1.5 | 1.4 | 17.6 | |
| 33.3 | 10.8 | 14.3 | 48.1 | |
| 58.8 | 61 | 77.9 | 165 | |
| 15 | 14.1 | 14.6 | 67.8 | |
| 0.3 | – | 0.1 | 37.8 | |
| 0.4 | 0.4 | 6.9 | 0.4 | |
| 0.8 | 6 | 13.1 | 3.9 | |
| 42.3 | 40.5 | 43.2 | 54.7 | |
| 58.8 | 61 | 77.9 | 165 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 8.4 | −13.4 | 3.8 | −13.8 | |
| −4 | −0.4 | −5.4 | −72.1 | |
| −5.7 | 19 | 5.6 | 75.8 | |
| −1.2 | 5.2 | 4 | −10.1 | |
| −2.3 | −0.7 | −2 | −35 | |
| 6.1 | −14.1 | 1.8 | −48.8 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.