GFL Ltd
GFLLIMITEDGFL Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the P/E sits at the 95th percentile of its own range — the multiple has already done part of the work.
The price is in a downtrend (76 weeks in) while the P/E sits at the 95th percentile of its own 10-year range. Underneath, the last four quarters read mixed, and 39% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
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.
GFL Ltd trades at ₹45.0, in a downtrend and 76 weeks into that stage. That is −12.0% against its own 200-day average. It sits at 17% of a 52-week range of ₹39 to ₹73. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).
Today the stock is in a downtrend — week 76 of stage 4, confirmed. At ₹45.0 it trades −12.0% versus its 200-day average and sits at 17% of its 52-week range (₹39–₹73).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved −28% while the NIFTY 500 moved +280% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-06-24) — 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 95th 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.
GFL Ltd trades at 11.0× P/E, at the pricey end of its own range (95th percentile). Its long-run median P/E is 2.0×, measured across 10.4 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 11.0× is at the pricey end of its own range (95th percentile), against a long-run median of 2.0× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
The price move, decomposed: over 10y, of the −4.7%/yr price move, ~−21.0%/yr came from earnings growth and ~+16.3 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
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).
GFL 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 10 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
The latest quarter’s profit carries a one-off item larger than the operating base, so the profit curve is shown but does not vote in the stage call.
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.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +0.0% | −88.2% | −49.1% | −52.6% |
| Profit | — | −72.8% | — | −22.9% |
| EPS | — | −72.8% | — | −19.6% |
| Share price | −30.1% | −6.5% | −7.8% | −4.7% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
48.1/100 — rank 9 of 20 in Chemicals - Organic · 66% evidence confidence
GFL Ltd scores 48.1 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 9. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 21.5 + 10.3 + 11.5 + 4.8 = 48.1. 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.
GFL Ltd reported ₹1.0 Cr of revenue in the Mar 26 quarter, +0.0% year on year. Over 10 years it has compounded at −52.6% a year. The last full year, FY26, came in at ₹4.0 Cr. The last four reported quarters add to ₹4.0 Cr.
GFL Ltd reported ₹1.0 Cr of revenue in the Mar 26 quarter, +0.0% year on year. Over 10 years it has compounded at −52.6% a year. The last full year, FY26, came in at ₹4.0 Cr. The last four reported quarters add to ₹4.0 Cr.
FY26 revenue came in at ₹4.0 Cr (+0.0% on the year), capping 10 years at −52.6% compound. The latest quarter (Mar 26) printed ₹1.0 Cr, +0.0% year on year.
Pace check: the last four quarters averaged +0.0% growth against the decade's −52.6% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +0.0% over the last 4 quarters against +0.0%/yr over the last 8 — stabilising.
→ Revenue grew — did margins hold as it scaled? Next: 19.0% this quarter (+2,562.0 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.
GFL Ltd's operating margin is 19.0% in the Mar 26 quarter, +2,562.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −1,325.0% to 99.0%. The current quarter sits inside that band.
GFL Ltd's operating margin is 19.0% in the Mar 26 quarter, +2,562.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −1,325.0% to 99.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 19.0%, +2,562.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −1,325.0%–99.0%.
Why the margin moved: operating margin went +2,562.0 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit null 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.
GFL Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter. That quarter carries a one-off item larger than its own revenue, so the year-on-year figure is an artefact rather than a trading result. Full-year FY26 profit was ₹45.0 Cr. The 10-year compound rate is −22.9%. That is 2,600.0% of the quarter's revenue.
GFL Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter. That quarter carries a one-off item larger than its own revenue, so the year-on-year figure is an artefact rather than a trading result. Full-year FY26 profit was ₹45.0 Cr. The 10-year compound rate is −22.9%. That is 2,600.0% of the quarter's revenue.
Mar 26 profit was ₹26.0 Cr, null year on year. On the full year, FY26 printed ₹45.0 Cr (null), and the 10-year compound rate is −22.9%.
🚨 Read this profit with care: at ₹26.0 Cr it is larger than the whole quarter's revenue of ₹1.0 Cr — no operating business earns more than it sells, so this is a one-off item (a debt-to-equity conversion, a tax write-back or an asset sale), not money the business earned. The underlying operations are running at 19.0% operating margin; the year-on-year jump and any P/E built on this number are artefacts of the one-off, not a real earnings turn.
→ Profit rose — but did the cash follow? Next: 39% 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 39% of GFL Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹0.0 Cr of operating cash against ₹45.0 Cr of profit. After ₹0.0 Cr of capital spending, ₹0.0 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.
FY26: operating cash of ₹0.0 Cr against reported profit of ₹45.0 Cr, leaving free cash of ₹0.0 Cr after ₹0.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 39% 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 39%: the cash cycle stretched 6,355 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 6,355 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 29-day cycle, in money terms.
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).
GFL Ltd's cash conversion cycle runs 29 days in FY26, up from −6,326 days in FY21. Capital spending ran ₹−1.0 Cr over the last 3 years. At FY26 sales of ₹4.0 Cr each day of that cycle holds about ₹0.0 Cr, so roughly ₹0.0 Cr sits inside the business at any moment.
FY26: debtors at 29 days (an asset-light business — no inventory to speak of) — for a full cycle of 29 days, looser than FY21's −6,326.
In money terms: at FY26 sales of ₹4.0 Cr, each day of the cycle holds about ₹0.0 Cr — so the 29-day loop keeps roughly ₹0.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−1.0 Cr over the last 3 fiscal years. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 2% and the ROIC − WACC spread is −12.0 pp.
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.
GFL Ltd earns a ROCE of 2% in FY26. That is up from a trough of −2% in FY21. Return on invested capital clears the cost of that capital by −12.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 1,125.0% net margin on 0.00× asset turns.
FY26 ROCE is 2%, recovered from a FY21 trough of −2% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 1,125.0% net margin × 0.00× asset turns × 1.07× balance-sheet leverage ≈ 0.0% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 0.0% − 12.0% = a −12.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.
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.
GFL Ltd carries ₹0.0 Cr of borrowings against ₹2,565 Cr of equity in FY26, a debt-to-equity of 0.00. Over 5 years borrowings went from ₹2,856 Cr to ₹0.0 Cr. Capital spending ran ₹−1.0 Cr across the last 3 of those years.
FY26: borrowings of ₹0.0 Cr against equity of ₹2,565 Cr — a debt-to-equity of 0.00. Over 5 years borrowings went from ₹2,856 Cr to ₹0.0 Cr while capital spending ran ₹−1.0 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: Domestic institutions cut 2.0 points over 8 quarters.
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.
Domestic institutions cut 2.0 points of GFL Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 0.0% of the company. Promoters moved +0.0 points over the same window, to 68.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: −2.0 points over 8 quarters to 0.0%; Promoters: +0.0 points over 8 quarters to 68.7%; Foreign institutions: +0.0 points over 8 quarters to 0.2%.
🚨 Why the register moved: domestic institutions drove it (−2.0 points) — distribution into the market’s bid.
→ 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.
GFL 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.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| GFL Ltd this page | 11.0× | ₹494 Cr | No read | |||
| BASF India Ltd | 38.4× | ₹15,887 Cr | No read | |||
| Fine Organic Industries Ltd | 35.9× | ₹14,804 Cr | Improving | |||
| Elantas Beck India Ltd | 50.3× | ₹7,346 Cr | Mixed | |||
| Balaji Amines Ltd | 42.2× | ₹7,046 Cr | Improving | |||
| Laxmi Organic Industries Ltd | 63.2× | ₹5,053 Cr | Mixed | |||
| Foseco India Ltd | 39.0× | ₹3,805 Cr | — | — | — | — |
| Citurgia Biochemicals Ltd | — | ₹1,884 Cr | No read | |||
| Nitta Gelatin India Ltd | 13.5× | ₹1,489 Cr | Mixed | |||
| Oriental Aromatics Ltd | 379.0× | ₹1,255 Cr | Mixed | |||
| Jyoti Resins and Adhesives Ltd | 14.3× | ₹997 Cr | Topping out | |||
| Sigachi Industries Ltd | 29.9× | ₹974 Cr | Turning around | |||
| Fairchem Organics Ltd | 157.0× | ₹967 Cr | Turning around | |||
| Sacheerome Ltd | 33.3× | ₹946 Cr | — | — | — | — |
| Indo Amines Ltd | 11.8× | ₹940 Cr | Consistent | |||
| Gem Aromatics Ltd | 651.0× | ₹930 Cr | No read | |||
| Shri Ahimsa Naturals Ltd | 31.1× | ₹904 Cr | — | — | — | — |
| Valiant Organics Ltd | 25.4× | ₹737 Cr | No read | |||
| OCCL Ltd | 14.6× | ₹724 Cr | No read | |||
| Shree Ganesh Remedies Ltd | 35.1× | ₹636 Cr | Deteriorating | |||
| Valiant Organics Ltd | 33.0× | ₹600 Cr | No read |
Frequently asked questions
What is GFL Ltd's share price today?
GFL Ltd trades at ₹45.0, −30.1% over the past year. The company is valued at ₹494 Cr. The stock sits at 17% of its 52-week range of ₹39–₹73, −12.0% versus its 200-day average. On the tape, the price is in a downtrend, 76 weeks in. — as of 24 July 2026.
What were GFL Ltd's latest quarterly results?
GFL Ltd reported revenue of ₹1.0 Cr and net profit of ₹26.0 Cr for the Mar 26 quarter. Earnings per share were ₹2.33. The operating margin was 19.0%, 2,562.0 pp higher than a year earlier. — as of 24 July 2026.
What is GFL Ltd's revenue?
GFL Ltd reported revenue of ₹1.0 Cr in the Mar 26 quarter, +0.0% year on year. For the full FY26 fiscal year, revenue was ₹4.0 Cr (+0.0%). Over the last 10 years revenue compounded at −52.6% a year. — as of 24 July 2026.
What is GFL Ltd's profit?
GFL Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹45.0 Cr. The operating margin ran 19.0% in the latest quarter. — as of 24 July 2026.
What is GFL Ltd's market cap?
GFL Ltd's market capitalisation is ₹494 Cr at a share price of ₹45.0. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is GFL Ltd's P/E ratio?
GFL Ltd trades at a P/E of 11.0×, at the 95th percentile of its own 10-year range, against a long-run median of 2.0×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Is GFL Ltd overvalued?
On its own history, GFL Ltd looks expensive against its own history: its P/E of 11.0× sits at the 95th percentile of its 10-year range (long-run median 2.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
How is GFL Ltd performing?
GFL Ltd is in a downtrend, 76 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is GFL Ltd in an uptrend?
No — the price is in a downtrend (week 76 of stage 4), trading −12.0% versus its 200-day average and at 17% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is GFL Ltd beating the market?
Not lately — on a trailing-13-week view GFL Ltd is currently behind the NIFTY 500 (5 weeks and counting; last ahead the week of 2026-06-24), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved −28% against the NIFTY 500's +280% — behind the index over the full window. — as of 24 July 2026.
Will GFL Ltd's share price go up?
This page publishes no price forecast for GFL Ltd. What it measures instead: the share price is ₹45.0, the price is in a downtrend 76 weeks in. Its P/E of 11.0× sits at the 95th percentile of its own 10-year range. Direction is not something this site claims to know. — as of 24 July 2026.
Who owns GFL Ltd?
Promoters hold 68.7% of GFL Ltd, foreign institutions 0.2%, domestic institutions 0.0% and the public 31.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 2.0 points over 8 quarters. — as of 24 July 2026.
Does GFL Ltd have too much debt?
No — GFL Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 0×. FY26 borrowings were ₹0.0 Cr against equity of ₹2,565 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is GFL Ltd's capex?
GFL Ltd spent ₹−1.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹0.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is GFL Ltd's cash flow?
GFL Ltd generated ₹0.0 Cr of operating cash flow in FY26 and ₹0.0 Cr of free cash flow after ₹0.0 Cr of capital spending. Reported profit that year was ₹45.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is GFL Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 39% of GFL Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹0.0 Cr against reported profit of ₹45.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is GFL Ltd in its business cycle?
GFL Ltd's FY26 operating margin was 48.0%, against a 13-year band of −1,325.0%–99.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 19.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the GFL Ltd story?
Biggest watch item: the P/E sits at the 95th percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is GFL Ltd a stock worth studying right now?
This is not investment advice. The machine read: GFL Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.