Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

GOCL Corporation Ltd

GOCLCORP
Lubricants

GOCL Corporation Ltd is coiled. The quarters are improving, yet the P/E sits at the 11th percentile of its own 11-year range — the business is moving before the market.

The sharpest disagreement: profits are rising, but only 1% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (16 weeks in) while the P/E sits at the 11th percentile of its own 11-year range. Underneath, the last four quarters read improving, and 1% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
partial read
Price
₹442
+25.4% 1Y
P/E
8.2×
11th pctile
of its own 11-year range
Revenue (Jun 26)
₹4.0 Cr
+33.3% YoY
Profit (Jun 26), incl. one-off
₹40.0 Cr
one-off item — see below
Operating margin
−122.0%
+55.0 pp YoY
ROCE
7%
FY26
ROIC
−0.9%
vs WACC 12.0% → −12.9 pp
Cash conversion
1%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

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.

GOCL Corporation Ltd trades at ₹442, in a confirmed uptrend and 16 weeks into that stage. That is +22.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹236 to ₹442. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a confirmed uptrend — week 16 of stage 2, confirmed. At ₹442 it trades +22.5% versus its 200-day average and sits at 100% of its 52-week range (₹236–₹442).

Sep 26: ₹442 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+22.5% versus the 200-day line, week 16 of stage 2
Price50-day avg200-day avg
S2S4S4S2S4S2₹659₹546₹432₹318₹204₹442₹360Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S4S2S4S2₹659₹546₹432₹318₹204₹442₹360Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (556 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Feb 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +251% while the NIFTY 500 moved +273% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — 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.

02 · Story check

Story check

GOCL Corporation Ltd's story is not scored yet against the markers our research file set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. Still open: Endowment Tribunal Kukatpally Land Risk Our fortnightly research layers last read it on 27 June 2026.

NOT YET CHECKED

What is proven. See the research file

What is not proven yet. Endowment Tribunal Kukatpally Land Risk

🚨 Layer 1 read, 27 June 2026 — DROP. A single-digit PE that is an illusion - all the profit is one-off land/asset-sale gains, with no operating business left. Core FY26 revenue is just Rs10cr against an operating loss of Rs31cr, while the Rs1,522cr trailing profit is almost entirely non-operating other income from land monetization and the IDL divestment, and the one-off ledger flags all 15 reviewed quarters as not-clean with cash conversion at 0.01x. This is a NAV-realization and HNPCL-merger special situation (P/B 0.63x, merger pending NCLT), not the fundamental-improvement breakout the strategy targets, so it ranks at the bottom of the batch.

What would change Layer 1’s mind. The HNPCL merger closing AND the merged entity demonstrating recurring operating EBITDA (a real cash-generating business, not asset sales) for two consecutive quarters - that would convert this from a one-off NAV/merger play into an actual operating thesis worth ranking on fundamentals.

The test written in advance. The HNPCL merger closing AND the merged entity demonstrating recurring operating EBITDA (a real cash-generating business, not asset sales) for two consecutive quarters - that would convert this from a one-off NAV/merger play into an actual operating thesis worth ranking on fundamentals. — the thesis as written as stated by the next result — from our Layer 1 read of 27 Jun 2026.

🚨 What the surface reading misses. The surface reading is: P/B 0.63x — market trades at discount to book, suggesting cheapness or distress The research reads it further: Book value ₹634/share reflects residual land assets + cash accumulated from IDL proceeds and land sales. The discount to book is a holdco discount — common when operating earnings are absent and the liquidation timeline is uncertain. Not distress but illiquidity premium on a complex asset story.

🚨 What the surface reading misses. The surface reading is: PE at 5th percentile of 10-year history — looks extremely cheap, a CYCLE_BOTTOM / GOLDEN_SETUP signal The research reads it further: The PE denominator (TTM PAT ₹1,522 Cr) is almost entirely asset-sale-driven other income — IDL proceeds and land sale gains. Cycle_normalized block shows normalized PAT of ₹345 Cr implying normalized PE 5.8x — STILL cheap by the cycle_normalized's own verdict (FAIRLY_PRICED at 2nd normalized percentile), but for a completely different reason than a cyclical margin trough. There is no cyclical operating margin to recover from — the operating business is gone. Cheapness reflects the holdco discount on illiquid assets, not a cyclical earnings trough.

Sources: our stock research file (14 June 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.

03 · Revenue

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

GOCL Corporation Ltd reported ₹4.0 Cr of revenue in the Jun 26 quarter, +33.3% year on year. Over 10 years it has compounded at −32.2% a year. The last full year, FY26, came in at ₹10.0 Cr. The last four reported quarters add to ₹10.0 Cr.

FY26 revenue came in at ₹10.0 Cr (−44.4% on the year), capping 10 years at −32.2% compound. The latest quarter (Jun 26) printed ₹4.0 Cr, +33.3% year on year.

FY26 revenue ₹10.0 Cr (−44.4% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
−32.2% a year over 10 years
RevenueYoY growth
99599%74647%497−6.0%249−59%0−112%₹ Cr%₹10−44.4%FY16FY21FY26
99599%74647%497−6.0%249−59%0−112%₹ Cr%₹10−44.4%FY16FY21FY26
Jun 26: ₹4.0 Cr (+33.3% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
180351%135231%90110%45−11%0−131%₹ Cr%₹433.3%Sep 23Dec 24Jun 26
180351%135231%90110%45−11%0−131%₹ Cr%₹433.3%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged −23.3% growth against the decade's −32.2% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −28.6% over the last 4 quarters against −85.7%/yr over the last 8 — accelerating; TTM profit −74.8% vs +117.0%/yr — rolling over.

04 · Operating margin

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.

GOCL Corporation Ltd's operating margin is −122.0% in the Jun 26 quarter, +55.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −322.0% to 8.0%. The current quarter sits inside that band.

The latest quarter's operating margin is −122.0%, +55.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −322.0%–8.0%.

Why the margin moved: operating margin went +54.9 pp year on year while gross margin went −3.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: −322.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a −322.0–8.0% band over 13 years
operating marginYoY change (pp)
34%16%−61%−34%−157%−84%−253%−134%−348%−184%%%−322%−170%FY14FY20FY26
34%16%−61%−34%−157%−84%−253%−134%−348%−184%%%−322%−170%FY14FY20FY26
Jun 26: −122.0% operating margin (+55.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
49%246%−111%76%−272%−94%−433%−263%−593%−433%%%−122%55%Sep 23Dec 24Jun 26
49%246%−111%76%−272%−94%−433%−263%−593%−433%%%−122%55%Sep 23Dec 24Jun 26
05 · Net profit

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

GOCL Corporation Ltd earned ₹40.0 Cr of net profit in the Jun 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 ₹1,522 Cr. The 10-year compound rate is 49.7%. That is 1,000.0% of the quarter's revenue.

Jun 26 profit was ₹40.0 Cr, −96.7% year on year. On the full year, FY26 printed ₹1,522 Cr (+869.4%), and the 10-year compound rate is 49.7%.

🚨 Read this profit with care: at ₹40.0 Cr it is larger than the whole quarter's revenue of ₹4.0 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 −122.0% 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.

FY26 profit ₹1,522 Cr (+869.4% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
49.7% a year over 10 years
Net profitYoY growth
1.6k945%1.2k671%822396%411122%0−153%₹ Cr%₹1,522869.4%FY16FY21FY26
1.6k945%1.2k671%822396%411122%0−153%₹ Cr%₹1,522869.4%FY16FY21FY26
Jun 26: ₹40.0 Cr (−96.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
1.3k3,567%9912,589%6601,612%330634%0−343%₹ Cr%₹40226.1%Sep 23Dec 24Jun 26
1.3k3,567%9912,589%6601,612%330634%0−343%₹ Cr%₹40226.1%Sep 23Dec 24Jun 26
06 · Cash flow — the router

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 1% of GOCL Corporation Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−34.0 Cr of operating cash against ₹1,522 Cr of profit. After ₹−27.0 Cr of capital spending, ₹−7.0 Cr was left as free cash.

FY26: operating cash of ₹−34.0 Cr against reported profit of ₹1,522 Cr, leaving free cash of ₹−7.0 Cr after ₹−27.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 1% of profit.

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

FY26: CFO ₹−34.0 Cr vs profit ₹1,522 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY17 reflects an acquisition year — point shown clipped.
1% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1.7k1.2k714245−224₹ Cr₹−34₹1,522₹−7FY16FY21FY26
1.7k1.2k714245−224₹ Cr₹−34₹1,522₹−7FY16FY21FY26
FY26: CFO = −2% of profit (three-year rate 1%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
163%109%56%2.6%−51%%−2%FY16FY21FY26
163%109%56%2.6%−51%%−2%FY16FY21FY26

🚨 Why conversion sits at 1%: the cash cycle tightened 8,055 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

07 · Where the cash goes

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).

GOCL Corporation Ltd's cash conversion cycle runs −7,990 days in FY26, down from 65 days in FY21. Capital spending ran ₹−212 Cr over the last 3 years. At FY26 sales of ₹10.0 Cr each day of that cycle holds about ₹0.0 Cr, so roughly ₹−219 Cr sits inside the business at any moment.

FY26: debtors at 37 days, inventory at 260 days — roughly 8.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −7,990 days, tighter than FY21's 65.

The full loop: cash goes out to suppliers and production on day 0; stock waits 260 days to sell; customers pay about 37 days after that; and suppliers themselves are paid at 8,287 days — netting out to the −7,990-day cycle.

In money terms: at FY26 sales of ₹10.0 Cr, each day of the cycle holds about ₹0.0 Cr — so the −7,990-day loop keeps roughly ₹−219 Cr sitting inside the business at any moment.

FY26: a −7,990-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−8,055 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
9,5894,8690−4,572−9,292days−7,990d260d37d8,287dFY14FY17FY20FY23FY26
9,5894,8690−4,572−9,292days−7,990d260d37d8,287dFY14FY20FY26

On the investment side: capital spending of ₹−212 Cr over the last 3 fiscal years against ₹13.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹1.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹−27.0 Cr, work-in-progress ₹1.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
73−115−303−490−678₹ Cr₹−27₹1FY16FY18FY21FY23FY26
73−115−303−490−678₹ Cr₹−27₹1FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

08 · Return on capital

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.⚠ unverified

GOCL Corporation Ltd earns a ROCE of 7% in FY26. That is up from a trough of 4% in FY15. Return on invested capital clears the cost of that capital by −12.9 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 15,220.0% net margin on 0.00× asset turns.

FY26 ROCE is 7%, recovered from a FY15 trough of 4% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 15,220.0% net margin × 0.00× asset turns × 1.13× 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: −0.9% − 12.0% = a −12.9 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.

FY26: ROCE 7% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY15's 4%
ROCEROIC (annual)WACC
13%9.3%5.5%1.7%−2.0%%7%−1%FY14FY20FY26
13%9.3%5.5%1.7%−2.0%%7%−1%FY14FY20FY26
Q4 FY26: ROCE −1.0% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%9.0%4.9%0.9%−3.2%%−1%−0.3%Q3 FY23Q4 FY24Q4 FY26
13%9.0%4.9%0.9%−3.2%%−1%−0.3%Q3 FY23Q4 FY24Q4 FY26
09 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

GOCL Corporation Ltd carries total debt of ₹1.0 Cr against shareholder equity of ₹3,143 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 1.38 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Why this happened. Borrowings collapsed from ₹1,767 Cr (Mar 2023) to ₹1 Cr (Mar 2026), entirely funded by asset disposal proceeds (CFI ₹1,082 Cr FY26, CFF -₹1,046 Cr). The resultant clean balance sheet creates optionality: special dividends (₹30/share recommended for FY26), capital returns, or funding the HNPCL integration without dilution.

Mar 26: total debt of ₹1.0 Cr against shareholder equity of ₹3,143 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 1.38 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹1.0 Cr at 0.00× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1.9k1.5×1.4k1.1×9540.7×4770.3×0−0.1×₹ Cr×₹10.00×FY22FY24FY26
1.9k1.5×1.4k1.1×9540.7×4770.3×0−0.1×₹ Cr×₹10.00×FY22FY24FY26
Mar 26: debt ₹1.0 Cr, debt-to-equity 0.00 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1.9k1.4×1.4k1.0×9540.6×4770.3×0−0.1×₹ Cr×₹10.00×Jun 23Sep 24Mar 26
1.9k1.4×1.4k1.0×9540.6×4770.3×0−0.1×₹ Cr×₹10.00×Jun 23Sep 24Mar 26
10 · Ownership

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.

Foreign institutions added 5.2 points of GOCL Corporation Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 5.3% of the company. Promoters moved −5.0 points over the same window, to 67.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +5.2 points over 8 quarters to 5.3%; Promoters: −5.0 points over 8 quarters to 67.8%; Domestic institutions: +0.1 points over 8 quarters to 1.3%.

Why the register moved: foreign institutions drove it (+5.2 points), absorbed on the other side by promoters (−5.0 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters −5.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
79%58%36%15%−5.7%%67.8%5.1%1.3%25.6%Mar 24Mar 25Mar 26
79%58%36%15%−5.7%%67.8%5.1%1.3%25.6%Mar 24Mar 25Mar 26
Foreign institutions added 5.2 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
80%58%37%16%−5.8%%67.8%5.3%1.3%25.2%Jun 23Dec 24Jun 26
80%58%37%16%−5.8%%67.8%5.3%1.3%25.2%Jun 23Dec 24Jun 26
11 · 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.

GOCL Corporation 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.

12 · Valuation

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.

GOCL Corporation Ltd trades at 8.2× P/E, near the bottom of its own range — cheaper only 11% of the time. Its long-run median P/E is 24.3×, measured across 10.6 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 8.2× is near the bottom of its own range — cheaper only 11% of the time, against a long-run median of 24.3× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 8.2× vs a 24.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.6-year window; loss-period spikes above 73× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 11% of the time
P/EMedianEPS (TTM) (quarterly)
78.4×₹58.958.8×₹44.239.2×₹29.419.6×₹14.70.0×₹0.0×8.20×₹54Feb 16Oct 18Jun 21Mar 24Sep 26
78.4×₹58.958.8×₹44.239.2×₹29.419.6×₹14.70.0×₹0.0×8.20×₹54Feb 16Jun 21Sep 26
P/E
8.2×
11th percentile of 11y

Why the multiple sits where it does: over the past year annual EPS moved +869.4% against a +25.4% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +10.0%/yr price move, ~+25.9%/yr came from earnings growth and ~−15.9 pp from the multiple (compressing); over 10y, of the +5.2%/yr price move, ~+28.0%/yr came from earnings growth and ~−22.8 pp from the multiple (compressing). 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 low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

13 · Stage: Mixed

Stage: Mixed 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).

GOCL Corporation Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is lifting off its trough at −28.6% while eps growth is falling at −74.7% — the curves disagree, so the per-curve reads carry the story. The read is built from 9 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue −44.4% in FY26, profit +869.4% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
99%330%47%221%−6.0%111%−59%0.0%−112%−107%%%−44.4%300%FY16FY21FY26
99%330%47%221%−6.0%111%−59%0.0%−112%−107%%%−44.4%300%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit rolling over
RevenueProfitEPS
−23%330%−43%221%−63%113%−83%0.0%−103%−105%%%−28.6%−74.8%−74.7%Sep 23Dec 24Jun 26
−23%330%−43%221%−63%113%−83%0.0%−103%−105%%%−28.6%−74.8%−74.7%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
7.1%6.8%6.5%6.2%5.9%%7%FY23FY24FY26
7.1%6.8%6.5%6.2%5.9%%7%FY23FY24FY26
Revenue growth
Recovering
latest −28.6% · span −97.8% to −28.6%
Profit growth
Falling
latest −74.8% · span −74.8% to +2,116.4%
EPS growth
Falling
latest −74.7% · span −74.7% to +2,078.5%
ROCE
Stuck low
latest 7.0% · span 6.0%–7.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

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.

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.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−44.4%−77.9%−52.6%−32.2%
Profit+869.4%+93.2%+80.7%+49.7%
EPS+869.4%+93.2%+80.8%+49.7%
Share price+25.4%−0.7%+10.0%+5.2%
Revenue YoY (Jun 26)
+33.3%
latest quarter vs a year ago
Revenue 10y
−32.2%
long-run compound pace
14 · 4-Factor Sector Score

4-Factor Sector Score

43.5/100 — rank 4 of 4 in Lubricants · 78% evidence confidence

GOCL Corporation Ltd scores 43.5 out of 100 against the 4 companies it is compared with in Lubricants, ranking 4. Price leads the evidence: RS versus the benchmark is 33.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

The four contributions add to the total exactly: 10.4 + 4.4 + 13 + 15.7 = 43.5. 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.

15 · Related companies · Lubricants
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Castrol India LtdCASTROLIND 62.0/100Mixed-positive evidence97% evidence TURNING 25.8/35 Revenue 11.8% · PAT 11.3% · OPM change 3 pp 100% evidence 22.0/25 ROCE 60.3% · OPM 26% 100% evidence 8.8/20 P/E 17.2× · PEG 2.25 85% evidence 5.4/20 RS sector -7.4% · RS bench 1.4% · 1Y -4.9%0 of 12 weeks ahead 100% evidence
Exact sum: 25.8 + 22 + 8.8 + 5.4 = 62 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.4% and the one-year return is -4.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
2Veedol Corporation LtdVEEDOL 60.4/100Mixed-positive evidence97% evidence TURNING 25.7/35 Revenue 12.9% · PAT 20.9% · OPM change 5 pp 100% evidence 18.9/25 ROCE 24.1% · OPM 16% 100% evidence 14.7/20 P/E 11.3× · PEG 1.4 85% evidence 1.1/20 RS sector -13.2% · RS bench -5.2% · 1Y -12.1%1 of 12 weeks ahead 100% evidence
Exact sum: 25.7 + 18.9 + 14.7 + 1.1 = 60.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -13.2% and the one-year return is -12.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Gulf Oil Lubricants India LtdGULFOILLUB 48.8/100Mixed-negative evidence91% evidence BREAKING OUT 14.7/35 Revenue 16.4% · PAT 0.8% · OPM change -1 pp 100% evidence 17.9/25 ROCE 25.9% · OPM 12% 100% evidence 11.2/20 P/E 13.5× · PEG 1.54 85% evidence 5.0/20 RS sector -7.9% · RS bench -1% · 1Y -15.3%8 of 10 weeks ahead 70% evidence
Exact sum: 14.7 + 17.9 + 11.2 + 5 = 48.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4GOCL Corporation Ltdthis pageGOCLCORP 43.5/100Mixed-negative evidence78% evidence BREAKING OUT 10.4/35 Revenue -28.6% · PAT -74.8% · OPM change 55 pp 95% evidence 4.4/25 ROCE 7% · OPM -122% 95% evidence 13.0/20 P/E 8.2× · PEG — 35% evidence 15.7/20 RS sector 3.6% · RS bench 33.8% · 1Y 22.8%9 of 11 weeks ahead 70% evidence
Exact sum: 10.4 + 4.4 + 13 + 15.7 = 43.5 · Decision use: Price leads the evidence: RS versus the benchmark is 33.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is GOCL Corporation Ltd's share price today?

GOCL Corporation Ltd trades at ₹442, +25.4% over the past year. The company is valued at ₹2,189 Cr. The stock sits at the very top of its 52-week range (₹236–₹442), +22.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 16 weeks in. — as of 11 September 2026.

What were GOCL Corporation Ltd's latest quarterly results?

GOCL Corporation Ltd reported revenue of ₹4.0 Cr and net profit of ₹40.0 Cr for the Jun 26 quarter. Revenue rose 33.3% and profit fell 96.7% year on year. Earnings per share were ₹8.15. The operating margin was −122.0%, 55.0 pp higher than a year earlier. — as of 11 September 2026.

What is GOCL Corporation Ltd's revenue?

GOCL Corporation Ltd reported revenue of ₹4.0 Cr in the Jun 26 quarter, +33.3% year on year. For the full FY26 fiscal year, revenue was ₹10.0 Cr (−44.4%). Over the last 10 years revenue compounded at −32.2% a year. — as of 11 September 2026.

What is GOCL Corporation Ltd's profit?

GOCL Corporation Ltd earned ₹40.0 Cr of net profit in the Jun 26 quarter, −96.7% year on year. Full-year FY26 profit was ₹1,522 Cr. The operating margin ran −122.0% in the latest quarter. — as of 11 September 2026.

What is GOCL Corporation Ltd's market cap?

GOCL Corporation Ltd's market capitalisation is ₹2,189 Cr at a share price of ₹442. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is GOCL Corporation Ltd's P/E ratio?

GOCL Corporation Ltd trades at a P/E of 8.2×, at the 11th percentile of its own 11-year range, against a long-run median of 24.3×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does GOCL Corporation Ltd pay a dividend?

Yes — GOCL Corporation Ltd's dividend payout was 10% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is GOCL Corporation Ltd overvalued?

On its own history, GOCL Corporation Ltd looks cheap: its P/E of 8.2× has been cheaper only 11% of the time in 11 years (long-run median 24.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is GOCL Corporation Ltd growing?

Yes — GOCL Corporation Ltd is growing: latest-quarter revenue +33.3% year on year, profit −96.7%, and the margin +55.0 pp at −122.0%. The 10-year compound rates are −32.2% (revenue) and 49.7% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is GOCL Corporation Ltd performing?

GOCL Corporation Ltd is in a confirmed uptrend, 16 weeks in. Its latest quarter's revenue rose 33.3% and profit fell 96.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is GOCL Corporation Ltd in?

Mixed — revenue growth is lifting off its trough at −28.6% while eps growth is falling at −74.7% — the curves disagree, so the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth −28.6% latest, profit growth −74.8% latest, eps growth −74.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is GOCL Corporation Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 16 of stage 2), trading +22.5% versus its 200-day average and at the very top 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 11 September 2026.

Is GOCL Corporation Ltd beating the market?

On recent form, yes — GOCL Corporation Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +251% against the NIFTY 500's +273% — behind the index over the full window. — as of 11 September 2026.

Will GOCL Corporation Ltd's share price go up?

This page publishes no price forecast for GOCL Corporation Ltd. What it measures instead: the share price is ₹442, the price is in a confirmed uptrend 16 weeks in. Its P/E of 8.2× sits at the 11th percentile of its own 11-year range. — as of 11 September 2026.

Who owns GOCL Corporation Ltd?

Promoters hold 67.8% of GOCL Corporation Ltd, foreign institutions 5.3%, domestic institutions 1.3% and the public 25.2% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 5.2 points over 8 quarters. — as of 11 September 2026.

Does GOCL Corporation Ltd have too much debt?

No — GOCL Corporation Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill −1×. FY26 borrowings were ₹1.0 Cr against equity of ₹3,143 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is GOCL Corporation Ltd's capex?

GOCL Corporation Ltd spent ₹−212 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 ₹−27.0 Cr, with ₹1.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is GOCL Corporation Ltd's cash flow?

GOCL Corporation Ltd consumed ₹34.0 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−7.0 Cr). Operating cash was negative while the company reported a profit of ₹1,522 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is GOCL Corporation Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 1% of GOCL Corporation Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−34.0 Cr against reported profit of ₹1,522 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 11 September 2026.

Where is GOCL Corporation Ltd in its business cycle?

GOCL Corporation Ltd's FY26 operating margin was −322.0%, against a 13-year band of −322.0%–8.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran −122.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What could break the GOCL Corporation Ltd story?

The sharpest disagreement: profits are rising, but only 1% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. 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 11 September 2026.

Is GOCL Corporation Ltd a stock worth studying right now?

This is not investment advice. The machine read: GOCL Corporation Ltd is coiled. The quarters are improving, yet the P/E sits at the 11th percentile of its own 11-year range — the business is moving before the market. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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