GEE share price today

GEE Ltd's share price was ₹115.60 at the close on 6 November 2026. It has been rising for 21 weeks. That is 11.3% above its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today GEE Ltd is in stage 2. The phase helps read everything below.

Since its first close in our records, on 8 May 2026, it has traded between ₹78 and ₹137, and at that close it sat 64% of the way up from that low.

Over the last 6 months the share price moved +36% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: highest quarterly profit in 14 quarters, revenue up on a year earlier for 4 quarters in a row and profit up on a year earlier for 4 quarters in a row.

1. Highest quarterly profit in 14 quarters

   Profit of ₹7 crore in the June 2026 quarter is the highest of the last 14 quarters.

2. Revenue up on a year earlier for 4 quarters in a row

   In the June 2026 quarter revenue was ₹103 crore, +29.9% on a year earlier.

3. Profit up on a year earlier for 4 quarters in a row

   In the June 2026 quarter profit was ₹7 crore, +599% on a year earlier.

For April to June 2026 (the quarter ended 30 June 2026), GEE reported revenue of ₹103 crore, up 29.9% from ₹79.2 crore a year earlier, and a profit of ₹6.85 crore, up 599.0% from ₹0.98 crore.

GEE results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 18 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

GEE closed at ₹115.60 on 6 November 2026. Its highest weekly close since May 2026 was ₹136.50 on 4 September 2026.

GEE share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

29 weekly closes from 8 May 2026 to 6 November 2026.

6 Nov 2026: GEE closed at ₹115.60, down 2.7% on the week and up 0.0% on the month. Our read, 19 Jul 2026: Flux-cored wire, defense and nuclear approvals provide observable routes to growth using existing capacity. The recovery is real at the operating-profit line, but it starts from an impaired comparison period and the latest cash flow was negative.

Earlier

• Results for April to June 2026: Revenue up 29.9% and profit up 599.0% on a year earlier.
• 18 May 2026: GEE held its results call for January to March 2026. Management guided: Revenue goal ₹1,000 crore by FY29-30 at 25.0-30.0% yearly growth through FY29.

Our read of the business

Flux-cored wire, defense and nuclear approvals provide observable routes to growth using existing capacity. The recovery is real at the operating-profit line, but it starts from an impaired comparison period and the latest cash flow was negative.

January to March 2026: The March quarter closed the year with the strongest recent revenue and a positive operating margin.

Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

Not in its latest year. GEE Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 3 of its last 12 reported years, so there is a history but no current dividend (as of 6 November 2026).

On the call for January to March 2026, held on 18 May 2026, GEE's management guided: Revenue goal ₹1,000 crore by FY29-30 at 25.0-30.0% yearly growth through FY29.

“We are looking at a 25 to 30 percent target revenue growth CAGR till FY29, with the target to hit a 1,000 crore mark by FY29-2030”Payal Agarwal, on the call for January to March 2026

What management guided

• FY27 revenue aiming for ₹500+ crore with 10.0%+ double-digit operating margin.
• Sustainable operating margin progression to 10.0%, 11.0%, 12.0%, 13.0%+ over time as operating leverage accrues.
• Capacity utilization goal 80.0-90.0% by FY27 (from current 57.0%) achievable via ancillary equipment additions.
• Flux-cored wire production commencing July 2026 with ₹50+ crore annual revenue goal at scale.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 18 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

What is changing at GEE, from the latest results and calls: flux-cored wire localization, specialty approvals and existing-capacity operating leverage.

• Flux-cored wire localization. Domestic flux-cored wire production can replace import activity with a larger share of unit economics. ⚠ estimate
• Specialty approvals. Defense and nuclear approvals can shift revenue toward products with stronger pricing power. ⚠ estimate
• Existing-capacity operating leverage. Utilization growth can improve fixed-cost absorption without a new plant build. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

Confidence increases if flux-cored wire starts on schedule, specialty approvals convert to revenue, operating margin remains resilient and operating cash flow turns positive. The case fails if the new line is delayed, margin reverts as utilization rises, or inventory keeps absorbing cash without a disclosed order or commissioning bridge.

Each change stops working if

• Flux-cored wire localization: Production is delayed, certification does not support saleable output, or customers do not adopt the domestic line.
• Specialty approvals: Approved programmes do not turn into purchase orders or specialty mix remains too small to affect company economics.
• Existing-capacity operating leverage: Revenue stalls before utilization improves or added volume requires margin concessions.

The main risks

• Working-capital absorption: Latest-year operating cash was negative despite positive profit because working capital absorbed cash. ⚠ estimate
• Ambitious growth plan: The forward goals require a material step-up from the reported revenue base. ✓ fact

Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When GEE reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Flux-cored wire production commencement July 2026 - verify actual production start date and initial run-rate achievement; core to ₹50 crore annual revenue ambition and 3x growth story credibility.

GEE is on one of our India lists: Momentum stocks.

GEE Ltd earned ₹6.8 Cr of net profit in the Jun 2026 quarter, +599.0% on the same quarter a year earlier. Full-year FY26 profit was ₹13.0 Cr. Over 10 years profit has grown 10.0% a year on average. That is 6.7% of the quarter's revenue. The same quarter a year earlier earned ₹1.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

Why profit moved: revenue changed +29.9% on a year earlier and the margin moved +2.1 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +316.8% and revenue +18.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹112 Cr and profit ₹4 Cr as reported.

FY27-Q1. revenue ₹103 Cr and profit ₹7 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

GEE Ltd reported ₹103 Cr of revenue in the Jun 2026 quarter, +29.9% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 6.9% a year on average. The last full year, FY26, came in at ₹369 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The approvals are specific commercial access points rather than broad end-market commentary. Defense revenue and nuclear order conversion are the co-movers that must show in reported mix.

The last four reported quarters add to ₹393 Cr.

FY26 revenue was ₹369 Cr, +10.5% on the year before.

Recent pace: the last four quarters grew +18.7% on average, against 6.9% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +18.7%, against +5.0% a year over the last 8 quarters (accelerating).

FY26-Q4. revenue ₹112 Cr and profit ₹4 Cr as reported.

FY27-Q1. revenue ₹103 Cr and profit ₹7 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

GEE Ltd's operating margin was 7.8% in the Jun 2026 quarter, 2.1 percentage points higher than the same quarter a year ago. Across 12 years it has been between 0.2% and 10.0%. The latest quarter is within that range.

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

Why this happened. Management identifies unused capacity and limited ancillary spending as the route to scale. Reported revenue and operating margin must move together for the leverage claim to be credible.

Why the margin moved: operating margin changed +2.1 percentage points on the year while gross margin changed +0.4 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY26-Q4. revenue ₹112 Cr and profit ₹4 Cr as reported.

FY27-Q1. revenue ₹103 Cr and profit ₹7 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Over the last 3 years, 109% of GEE Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 its operations used ₹8.0 Cr of cash, against ₹13.0 Cr of profit. After −₹21.0 Cr of spending on assets, ₹13.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 109% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: it has been selling more assets than it buys. The next section shows those figures.

GEE Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 149 days in FY26, up from 139 days in FY21. Over the last 3 years it sold more assets than it bought, by ₹1.0 Cr. Customers take 54 days to pay, and stock sits for 127 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹369 Cr, each day of that cycle ties up about ₹1.0 Cr, so roughly ₹151 Cr is tied up in the business at any time.

FY26: customers took 54 days to pay and stock sat for 127 days, about 4.2 months of sales sitting as stock, for a full cycle of 149 days, longer than FY21's 139.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 127 days. Customers pay about 54 days after that. Suppliers are paid at 32 days. Together that makes the 149-day cycle.

Over the last 3 years, money from selling assets was ₹1.0 Cr more than it spent on new ones. Work still in progress is ₹2.0 Cr (FY26).

In short: assets are being sold, not built, so this cash is not going into new capacity.

GEE Ltd's P/E is 33.6×, near the high end of its own history: higher than 72% of past readings. Its usual P/E (the middle reading) is 18.2×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹3.63.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

GEE Ltd's business is turning around. Profit growth has swung from −64.6% at its low to +599.0%, rising from a low 5 quarters ago (from single-quarter figures), with ROCE rising at 11.0%. This is based on 10 quarters of 3 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

GEE Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file.

NOT YET CHECKED

What is not proven yet. Confidence increases if flux-cored wire starts on schedule, specialty approvals convert to revenue, operating margin remains resilient and operating cash flow turns positive. The case fails if the new line is delayed, margin reverts as utilization rises, or inventory keeps absorbing cash without a disclosed order or commissioning bridge.

What would change our mind. Confidence increases if flux-cored wire starts on schedule, specialty approvals convert to revenue, operating margin remains resilient and operating cash flow turns positive. The case fails if the new line is delayed, margin reverts as utilization rises, or inventory keeps absorbing cash without a disclosed order or commissioning bridge.

The test written in advance. Working-capital absorption. Measured by: Working-capital absorption Operating cash remains negative while inventory expands and no order or commissioning explanation is provided. by the next result.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: The new line creates a material revenue opportunity. The research reads it further: Existing import activity is the commercial co-mover: domestic production can capture more unit economics only after machinery commissioning, certification and customer adoption.

What the surface reading misses. The research reads it further: Specialized approval and existing project relationships are the co-movers; realized purchase orders and defense revenue must validate the stated share.

• 1 · Operating leveragebuilding
• 2 · Value-added mixquiet
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsbuilding
• 16 · Asset qualityquiet

Lever 15 · Market-share gains: building. Domestic flux-cored wire production can replace import activity with a larger share of unit economics. What proves it keeps working: Flux-cored wire localization. It stops working if Production is delayed, certification does not support saleable output, or customers do not adopt the domestic line.

Lever 1 · Operating leverage: building. Utilization growth can improve fixed-cost absorption without a new plant build. What proves it keeps working: Existing-capacity operating leverage. It stops working if Revenue stalls before utilization improves or added volume requires margin concessions.

Sources: our stock research file (19 July 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

GEE Ltd earned a ROCE of 11% in FY26. That is up from a low of −1% in FY25. Its return on capital used (ROIC) is 3.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 3.5% net margin and 1.17× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 3.5% net margin × 1.17× asset turnover × 1.47× leverage (assets divided by equity) ≈ 6.0% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 8.4% − 12.0% = −3.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

GEE Ltd had ₹61.0 Cr of borrowings against ₹215 Cr of equity in FY26, so its debt is 0.28× its equity. Its operating profit is 4 times its interest bill. Over 5 years borrowings went from ₹60.0 Cr to ₹61.0 Cr. Over the last 3 of those years it sold more assets than it bought, by ₹1.0 Cr.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

No group of GEE Ltd's owners changed its stake by a full percentage point over the last two years. Foreign institutions moved −0.2 points over the same period, to 1.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Promoters: −0.4 points over 8 quarters, to 63.6%; Foreign institutions: −0.2 points over 8 quarters, to 1.2%; Domestic institutions: +0.0 points over 8 quarters, to 0.0%.

For GEE Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

61.1 out of 100, rank 2 of 3 in Electrodes - Welding Equipment, with 58% of the evidence available.

GEE Ltd scores 61.1 out of 100 against the 3 companies it is compared with in Electrodes - Welding Equipment, ranking 2. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 29.9 + 8.7 + 10 + 12.5 = 61.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

GEE ranks 2 of 3 Electrodes - Welding Equipment companies on the 4-Factor Sector Score, with 61.1 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Electrodes - Welding Equipment, all 3 compared on one page.

GEE is the 3rd largest of 3 Electrodes - Welding Equipment companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Graphite India and HEG. It is the smallest.

Electrodes - Welding Equipment companies close in size

1. Graphite India Ltd ₹14,448 crore
2. HEG Ltd ₹4,575 crore
3. GEE Ltd ₹599 crore

All 3 Electrodes - Welding Equipment companies, largest first

Companies close in size in other industries

1918. Vakrangee Ltd ₹602 crore · IT Enabled Services/Business Process Outsourcing
1919. Virat Industries Ltd ₹602 crore · Textiles - Socks
1920. GEE Ltd ₹599 crore
1921. OSEL Devices Ltd ₹597 crore · Electronics - Others
1922. Allied Digital Services Ltd ₹596 crore · IT - Software

Sector Alpha, written by code from the published numbers. Data as of 6 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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