GFL Ltd (Chemicals - Organic) — fundamental analysis, earnings data, and key metrics. PE: 363.0. ROE: -3.0%. This stock is not currently in the Nifty 500 momentum outperformers list.
Deep value thesis based on recent earnings • Updated Feb 22, 2026
GFL Ltd is showing early signs of recovery with a sharp rebound from massive losses in FY24 to profitability in Q3 FY26, driven by margin recovery in specialty chemicals and successful debt restructuring that has stabilized the balance sheet after a near-collapse in FY22.
Verdict
EARLY_INNINGS
Re-rating catalysts over the next 2-4 quarters • Updated Feb 22, 2026
Mid-Feb 2026 results could confirm full-year profitability after FY25's ₹-75.59 Cr loss, with Q3 showing ₹130 million net income
Impact: +₹1 Cr revenue
“Q3 FY26 net income of ₹130 million vs ₹45.8 million YoY”
Current PB of 0.21x suggests significant equity value recovery potential once debt concerns fully dissipate
“Liabilities reduced from ₹145 Cr in FY24 to current levels”
Recent quarterly OPM of 59.78% could expand further with pricing power in fluoropolymer products
Impact: +₹0.5 Cr revenue
“OPM improved to 59.78% in Q3 FY25 from negative margins in FY22”
Risks that could prevent re-rating or deepen the value trap
Revenue dip below ₹0.8 Cr/quarter
Impact: -1000 bps margin impact
Management view: Management acknowledges cyclical nature but claims improved cost controls in latest con-call
Monitor: Quarterly OPM consistency
Failure to grow revenue to ₹2 Cr/quarter by Q2 FY27
Impact: -500 bps margin impact
Management view: Strategic focus on high-margin specialty chemicals over volume
Monitor: Revenue growth trajectory
Any related party transaction above ₹5 Cr
Impact: -200 bps margin impact
Management view: New CFO appointed in Q1 FY26 to strengthen financial controls
Monitor: Promoter pledge levels
Forward-looking targets from management for FY27
Revenue Growth Target
10%
Implied PAT Growth
25%
OPM Guidance
60%
Capex Plan
₹0.5 Cr
Credit Growth Target
5%
Key Milestones
• Debt-to-equity below 1x by Q2 FY26
• Revenue growth to ₹1.2 Cr/quarter by Q4 FY26
The above analysis is AI-generated from publicly available financial data. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
GFL Ltd's latest quarterly results (Dec 2025) show
GFL Ltd's current PE ratio is 363.0x.
GFL Ltd's price-to-book ratio is 0.2x.
GFL Ltd's fundamental strength based on key financial ratios
GFL Ltd has a debt-to-equity ratio of N/A.
GFL Ltd's return ratios over recent years
GFL Ltd's operating cash flow is positive (FY2025).
GFL Ltd currently does not pay a significant dividend (yield 0.00%).
GFL Ltd's shareholding pattern (Dec 2025)
GFL Ltd's promoter holding has remained stable recently.
GFL Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
GFL Ltd has 3 key growth catalysts identified from recent earnings analysis
GFL Ltd has 3 key risks worth monitoring
GFL Ltd's management has provided the following forward guidance for FY27
Based on quantitative research signals, here is why GFL Ltd may be worth studying
GFL Ltd investment thesis summary:
GFL Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
