Gretex Corporate Services (GCSL) had a P/E of 50.9× on 6 Nov 2026, above the industry P/E of 18.4×. Sales and net profit grew 74% and 2.5% a year over 3 years, with ROCE of 19% and ROE of 13%. It carries very little debt, and its dividend yield is 0.1%. It is a small-cap company with a market cap of ₹1,966 Cr, ranked 16th of 219 Capital Markets companies by market cap; the shares rose 222% over the past year.
- ₹780.55
- ₹792.75
- ₹777.20
- ₹782.75
- 2.1 L
Health check
- ReturnsAhead
+222.2% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 50.9 vs industry 18.4.
- GrowthSteady
Sales +73.8%, profit +2.5% a year over 3 years.
- ProfitabilityAverage
ROCE 18.6% vs peer median 22.1%.
- Balance sheetFair
Debt 0.07× equity, interest covered 21.2×, Piotroski 5 of 9.
- Red flags2 to check
P/E of 50.9 against an industry P/E of 18.4.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,966 Cr
- Small cap
- P/E
- 50.9
- Industry 18.4
- Price to book
- 11.19
- Peers 4.53
- Dividend yield
- 0.09%
- ROE
- 12.7%
- Peers 18.9%
- ROCE
- 18.6%
- Peers 22.1%
- Debt to equity
- 0.07
- Debt ₹15 Cr
- EPS (TTM)
- ₹15.44
- Face value ₹10
- OPM (TTM)
- 23.7%
- Net margin 18.3%
- Sales growth
- +70.7%
- Latest quarter vs a year ago
- Profit growth
- +1118.1%
- Latest quarter vs a year ago
- Price to sales
- 11.35
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 1118.1% on a year ago.
- Quarterly sales up 70.7% on a year ago.
Risks to check
- P/E of 50.9 against an industry P/E of 18.4.
- Interest coverage of only −24.9×.
About Gretex Corporate Services
Gretex Corporate Services Limited, a merchant banking company, provides financial and consultancy services in the areas of capital markets advisory, corporate finance, corporate restructuring, debt syndication, and compliance advisory in India. The company offers initial public offerings, follow-on public offers, rights issues and qualified institutional placements, and open offers, exit offers, and delisting; corporate finance advisory services, such as…
- Headquarters
- Mumbai
- Employees
- 59
- Sector
- Financial Services
- ISIN
- INE199P01028
- Website
- gretexcorporate.com
Price range
- Avg volume (3M)
- 5.6 L
- 1-year return
- plus 222.2%
- From 52-week high
- minus 1.4%
Peers · Capital Markets
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWWBillionbrains Garage Ventures | 215.08 | minus 3.93% | 1,33,585 | 50.3 | 13.78 | 29.3% | 21.6% | 62.9% | – | – | 0.00% | plus 63.8% |
| MOTILALOFSMotilal Oswal Financial Services | 1,102.00 | plus 0.64% | 66,448 | 25.0 | 4.27 | 18.1% | 18.9% | 52.4% | 29.0% | 26.1% | 0.54% | plus 11.1% |
| AIILAuthum Investment & Infrastructure | 570.05 | plus 0.08% | 48,410 | 27.6 | 3.29 | 15.2% | 13.1% | 74.0% | 44.4% | −23.5% | 0.00% | minus 0.7% |
| ANGELONEAngel One | 331.00 | plus 1.49% | 30,290 | 26.8 | 4.53 | 26.9% | 18.4% | 39.7% | 20.3% | 0.9% | 1.95% | plus 29.5% |
| CDSLCentral Depository Services (India) | 1,331.40 | minus 0.19% | 27,826 | 55.1 | 14.03 | 29.7% | 26.4% | 51.3% | 27.3% | 18.2% | 0.96% | minus 13.3% |
| CHOICEINChoice International | 748.20 | minus 0.09% | 16,668 | 62.9 | 8.90 | 17.6% | 15.8% | 35.3% | 42.2% | 53.6% | 0.00% | minus 7.4% |
| IIFLCAPSIIFL Capital Services | 349.80 | plus 0.13% | 13,036 | 18.8 | 3.15 | 22.1% | 19.5% | 36.1% | 19.9% | 30.9% | 0.86% | plus 4.1% |
| GCSLGretex Corporate Services | 786.05 | plus 0.42% | 1,966 | 50.9 | 11.19 | 18.6% | 12.7% | 30.0% | 73.8% | 2.5% | 0.09% | plus 222.2% |
| Median of 7 peers | – | 0.08% | 30,290 | 27.6 | 4.53 | 22.1% | 18.9% | 51.3% | 28.2% | 22.2% | 0.54% | 4.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 22 | 79.6 | 42.2 | 34.8 | 37.5 | |
| 20.3 | 60 | 42.5 | 25.1 | 20.4 | |
| 1.7 | 19.6 | −0.3 | 9.7 | 17.1 | |
| 7.8% | 24.6% | −0.8% | 27.9% | 45.7% | |
| 0.7 | 0 | 12.8 | −0.8 | 1 | |
| 0.2 | 0.2 | 0.4 | 1.1 | 0.3 | |
| 0.7 | 0.6 | 0.6 | 0.2 | 0.6 | |
| 1.5 | 18.7 | 11.4 | 7.7 | 17.2 | |
| 36.4% | 33.0% | 39.8% | 6.7% | 25.6% | |
| 0.8 | 11.5 | 1.6 | 4.9 | 9.3 | |
| 0.42 | 5.71 | 3.03 | 2.73 | 3.97 |
Profit & loss
- Sales CAGR 3Y
- +73.8%
- Profit CAGR 3Y
- +2.5%
- EPS CAGR 3Y
- −2.8%
- ROE
- 12.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.6 | 35.4 | 38.7 | 66.3 | |
| – | +180.8% | +9.2% | +71.3% | |
| 5.2 | 68.3 | 255 | 115 | |
| 7.4 | −32.8 | −216 | −48.4 | |
| 58.9% | −92.6% | −558.2% | −73.0% | |
| 15.8 | 5.5 | 2.2 | −1 | |
| 0.3 | 1.3 | 0.6 | 1.9 | |
| 0.5 | 1.6 | 2.6 | 2 | |
| 1.2 | 77.3 | 222 | 92.9 | |
| 23.8 | 47.1 | 5 | 39.4 | |
| 8.6% | 22.3% | 64.0% | 29.9% | |
| 21.4 | 27.2 | 1.3 | 23.1 | |
| – | +26.8% | minus 95.2% | +1673.5% | |
| 10.68 | 12.75 | 0.57 | 9.82 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.2 | 11.5 | 11.9 | 24.2 | |
| 28.3 | 97.2 | 181 | 146 | |
| 0.2 | 4.4 | 10.8 | 15.2 | |
| 9.7 | 63.5 | 66.4 | 59.1 | |
| 48.4 | 177 | 270 | 244 | |
| 4.2 | 23.7 | 24.6 | 23.5 | |
| 0.8 | 37.7 | 129 | 58.8 | |
| 12.2 | 13.9 | 11.4 | 0.8 | |
| 31.2 | 101 | 105 | 161 | |
| 48.4 | 177 | 270 | 244 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.5 | −18.6 | −31 | −28.3 | |
| −7.6 | −37.2 | 1.7 | −8.7 | |
| −2.2 | 67.4 | 27.9 | 26.4 | |
| 0.7 | 11.5 | −1.5 | −10.7 | |
| −1 | −21.1 | −3.6 | −0.9 | |
| 9.5 | −39.7 | −34.6 | −29.2 | |
| – | −0.9 | −0.7 | −0.7 |
Shareholding pattern
- Promoters60.54%
- Public39.46%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 60.54% | 39.46% | 0.00 | |
| 8 Sep 2026 | 60.54% | 39.46% | minus 1.10 | |
| 30 Jun 2026 | 61.64% | 38.36% | 0.00 | |
| 31 Mar 2026 | 61.64% | 38.36% | 0.00 | |
| 23 Jan 2026 | 61.64% | 38.36% | – |
Major shareholders
Filings & events
News
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