Goel Construction Company Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Goel Construction Company Ltd trades at ₹448, in a confirmed uptrend and 9 weeks into that stage. That is +28.0% against its own 200-day average. It sits at 80% of a 52-week range of ₹278 to ₹491. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks.

Today the stock is in a confirmed uptrend — week 9 of stage 2, confirmed. At ₹448 it trades +28.0% versus its 200-day average and sits at 80% of its 52-week range (₹278–₹491).

Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +61% while the NIFTY 500 moved +11% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 10 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 93rd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Goel Construction Company Ltd trades at 13.7× P/E, at the pricey end of its own range (93rd percentile). Its long-run median P/E is 10.1×, measured across 0.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 13.7× is at the pricey end of its own range (93rd percentile), against a long-run median of 10.1× measured over 0.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Goel Construction Company Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

55.7/100 — rank 8 of 9 in Engineering - Turnkey Services · 32% evidence confidence · provisional, ranked below fully-evidenced peers

Goel Construction Company Ltd scores 55.7 out of 100 against the 9 companies it is compared with in Engineering - Turnkey Services, ranking 8. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 17.1 + 18.4 + 10.2 + 10 = 55.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Goel Construction Company Ltd reported ₹412 Cr of revenue in the Mar 26 quarter, +29.6% year on year. Over 5 years it has compounded at 32.8% a year. The last full year, FY26, came in at ₹657 Cr. The last four reported quarters add to ₹1,247 Cr.

Goel Construction Company Ltd reported ₹412 Cr of revenue in the Mar 26 quarter, +29.6% year on year. Over 5 years it has compounded at 32.8% a year. The last full year, FY26, came in at ₹657 Cr. The last four reported quarters add to ₹1,247 Cr.

FY26 revenue came in at ₹657 Cr (+11.4% on the year), capping 5 years at 32.8% compound. The latest quarter (Mar 26) printed ₹412 Cr, +29.6% year on year.

Pace check: the last four quarters averaged +9.9% growth against the decade's 32.8% — the current year is running slower than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 11.0% this quarter (+1.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Goel Construction Company Ltd's operating margin is 11.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 6 fiscal years the operating margin has ranged 9.0% to 11.0%. The current quarter sits inside that band.

Goel Construction Company Ltd's operating margin is 11.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 6 fiscal years the operating margin has ranged 9.0% to 11.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 11.0%, +1.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 9.0%–11.0%, and FY26's 11.0% is the top of that band — a record year.

Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

→ Margins held — did that reach the bottom line? Next: profit +31.8% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Goel Construction Company Ltd earned ₹29.0 Cr of net profit in the Mar 26 quarter, +31.8% year on year. Full-year FY26 profit was ₹46.0 Cr. The 5-year compound rate is 45.7%. That is 7.0% of the quarter's revenue.

Goel Construction Company Ltd earned ₹29.0 Cr of net profit in the Mar 26 quarter, +31.8% year on year. Full-year FY26 profit was ₹46.0 Cr. The 5-year compound rate is 45.7%. That is 7.0% of the quarter's revenue.

Mar 26 profit was ₹29.0 Cr, +31.8% year on year. On the full year, FY26 printed ₹46.0 Cr (+21.1%), and the 5-year compound rate is 45.7%.

→ Profit rose — but did the cash follow? Next: 139% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 139% of Goel Construction Company Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹63.0 Cr of operating cash against ₹46.0 Cr of profit. After ₹31.0 Cr of capital spending, ₹32.0 Cr was left as free cash.

FY26: operating cash of ₹63.0 Cr against reported profit of ₹46.0 Cr, leaving free cash of ₹32.0 Cr after ₹31.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 139% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 139%: the cash cycle tightened 452 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 3.1× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹71.0 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Goel Construction Company Ltd's cash conversion cycle runs 39 days in FY26, down from 491 days in FY21. Capital spending ran ₹71.0 Cr over the last 3 years. At FY26 sales of ₹657 Cr each day of that cycle holds about ₹1.8 Cr, so roughly ₹70.0 Cr sits inside the business at any moment.

FY26: debtors at 39 days, inventory at 80 days — roughly 2.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 39 days, tighter than FY21's 491.

The full loop: cash goes out to suppliers and production on day 0; stock waits 80 days to sell; customers pay about 39 days after that; and suppliers themselves are paid at 80 days — netting out to the 39-day cycle.

In money terms: at FY26 sales of ₹657 Cr, each day of the cycle holds about ₹1.8 Cr — so the 39-day loop keeps roughly ₹70.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹71.0 Cr over the last 3 fiscal years against ₹23.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹3.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 34%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Goel Construction Company Ltd earns a ROCE of 34% in FY26. That is up from a trough of 19% in FY22. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 7.0% net margin on 1.44× asset turns.

FY26 ROCE is 34%, recovered from a FY22 trough of 19% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 7.0% net margin × 1.44× asset turns × 1.79× balance-sheet leverage ≈ 18.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.03.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Goel Construction Company Ltd carries ₹8.0 Cr of borrowings against ₹254 Cr of equity in FY26, a debt-to-equity of 0.03. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹36.0 Cr to ₹8.0 Cr. Capital spending ran ₹71.0 Cr across the last 3 of those years.

FY26: borrowings of ₹8.0 Cr against equity of ₹254 Cr — a debt-to-equity of 0.03. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹36.0 Cr to ₹8.0 Cr while capital spending ran ₹71.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Goel Construction Company Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Goel Construction Company Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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