On 6 Nov 2026, Gokul Refoils and Solvent was priced at ₹36.11, or 17.3× trailing earnings, against an industry P/E of 19.5×, and the shares are 23% below their 52-week high. It earns ROCE of 14% and ROE of 5.2%, and sales grew 9.6% a year over 3 years while net profit fell 8.5%. Debt is 1.06× equity. It is a small-cap company with a market cap of ₹357 Cr, ranked 52nd of 127 Packaged Foods companies by market cap; the shares fell 12% over the past year.
- ₹36.33
- ₹36.42
- ₹35.21
- ₹36.33
- 1.3 L
Health check
- ReturnsIn line
−11.8% over a year, better than 3 of 7 peers.
- Price tagIn line
P/E 17.3 vs industry 19.5.
- GrowthSlow
Sales +9.6%, profit −8.5% a year over 3 years.
- ProfitabilityAverage
ROCE 14.5% vs peer median 15.3%.
- Balance sheetFair
Debt 1.06× equity, interest covered 1.8×, Piotroski 5 of 9.
- Red flags2 to check
Return on equity is low at 5.2%.
Small cap
Defensive
Key metrics
- Market cap
- ₹357 Cr
- Small cap
- P/E
- 17.3
- Industry 19.5
- Price to book
- 0.98
- Peers 8.88
- Dividend yield
- 0.00%
- ROE
- 5.2%
- Peers 14.8%
- ROCE
- 14.5%
- Peers 15.3%
- Debt to equity
- 1.06
- Debt ₹386 Cr
- EPS (TTM)
- ₹2.09
- Face value ₹2
- OPM (TTM)
- 0.9%
- Net margin 0.5%
- Sales growth
- +9.7%
- Latest quarter vs a year ago
- Profit growth
- +57.6%
- Latest quarter vs a year ago
- Price to sales
- 0.08
- EV/EBITDA 14.4
Strengths and risks
Strengths
- Quarterly profit up 57.6% on a year ago.
- Positive operating cash flow in each of the last 4 years.
- Promoter stake up from 72.8% to 74.0%.
Risks to check
- Return on equity is low at 5.2%.
- Interest coverage of only 1.3×.
About Gokul Refoils and Solvent
Gokul Refoils & Solvent Limited engages in the seed processing, solvent extraction, and refining edible and non-edible industrial oils in India and internationally. The company offers various oils, including kachi ghani, mustard, groundnut, refined cottonseed, soyaben refined, palmolein and castor, and sunflower oils, as well as de-oiled cake/oil cake. It also provides organic manures/fertilizers; and trades in agro commodities, such as spices. The…
- Headquarters
- Ahmedabad
- Employees
- 332
- Sector
- Consumer Defensive
- ISIN
- INE020J01029
- Website
- gokulgroup.com
Price range
- Avg volume (3M)
- 1.8 L
- 1-year return
- minus 11.8%
- From 52-week high
- minus 22.8%
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% |
| GOKULGokul Refoils and Solvent | 36.11 | minus 0.61% | 357 | 17.3 | 0.98 | 14.5% | 5.2% | 0.9% | 9.6% | −8.5% | 0.00% | minus 11.8% |
| 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 |
|---|---|---|---|---|---|
| 926 | 1,063 | 1,076 | 1,056 | 1,017 | |
| 913 | 1,054 | 1,065 | 1,052 | 1,000 | |
| 13.9 | 8.4 | 10.6 | 3.4 | 16.6 | |
| 1.5% | 0.8% | 1.0% | 0.3% | 1.6% | |
| 3 | 8.4 | 6.8 | 14.2 | 3.5 | |
| 8.8 | 9.6 | 7.4 | 7.3 | 9.3 | |
| 2.7 | 2.8 | 2.7 | 2.7 | 2.8 | |
| 5.3 | 4.4 | 7.3 | 7.6 | 8 | |
| 27.3% | 20.0% | 28.0% | 23.4% | 23.8% | |
| 3.9 | 3.5 | 5.2 | 5.8 | 6.1 | |
| 0.39 | 0.36 | 0.53 | 0.59 | 0.61 |
Profit & loss
- Sales CAGR 3Y
- +9.6%
- Profit CAGR 3Y
- −8.5%
- EPS CAGR 3Y
- −8.5%
- ROE
- 5.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,123 | 3,014 | 3,507 | 4,110 | |
| – | minus 3.5% | +16.3% | +17.2% | |
| 3,062 | 2,974 | 3,470 | 4,071 | |
| 60.5 | 40.2 | 36.8 | 38.7 | |
| 1.9% | 1.3% | 1.1% | 0.9% | |
| −2.1 | 16.8 | 22.4 | 26.5 | |
| 19.6 | 27.2 | 29 | 29.1 | |
| 7.7 | 10.4 | 11.6 | 10.9 | |
| 0.3 | −16.8 | 1.2 | −0.5 | |
| 31.4 | 2.7 | 19.8 | 24.6 | |
| 23.1% | 32.1% | 25.3% | 25.0% | |
| 24.1 | 1.8 | 14.8 | 18.5 | |
| – | minus 92.5% | +716.6% | +24.8% | |
| 2.44 | 0.18 | 1.50 | 1.87 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 19.8 | 19.8 | 19.8 | 19.8 | |
| 308 | 310 | 325 | 344 | |
| 425 | 282 | 280 | 386 | |
| 90.7 | 127 | 143 | 161 | |
| 844 | 739 | 768 | 910 | |
| 98.1 | 103 | 101 | 98.5 | |
| 2.5 | 7.8 | 0.3 | 0.5 | |
| 0.5 | 0.6 | 0.9 | 1.1 | |
| 51.8 | 50.7 | 23.3 | 124 | |
| 691 | 577 | 643 | 686 | |
| 844 | 739 | 768 | 910 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 92 | 55.6 | 17.1 | 33.8 | |
| −21.9 | 16.8 | −4.8 | −3.1 | |
| 26.8 | −123 | −35.4 | 72.5 | |
| 96.9 | −50.7 | −23.2 | 103 | |
| −29.4 | −12.7 | −9.7 | −8.4 | |
| 62.6 | 42.9 | 7.4 | 25.4 |
Shareholding pattern
- Promoters74.00%
- Public26.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.00% | 26.00% | plus 0.40 | |
| 30 Jun 2026 | 73.60% | 26.40% | plus 0.06 | |
| 31 Mar 2026 | 73.54% | 26.46% | plus 0.73 | |
| 31 Dec 2025 | 72.81% | 27.19% | 0.00 | |
| 30 Sep 2025 | 72.81% | 27.19% | – |
Major shareholders
Filings & events
News
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