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Stock Analysis

Description

Gokaldas Exports Limited is a prominent Indian apparel manufacturer and exporter, established in 1979, serving over 50 countries with garments for men, women, and children.

Key Growth Triggers

Vertical integration through BRFL Textiles acquisition and proposed amalgamation to improve operating margins and supply chain.
Strategic capacity expansion in India and Africa, with diversification into Europe.
Potential benefits from AGOA reinstatement for Africa operations.
Focus on productivity gains and cost management driving margin improvements.

Order Book

Currently no data available for Order Book.

Key Red Flags

Q2 FY26 PAT decline due to increased expenses, forex impact, and hedging losses.
US tariffs and AGOA uncertainty in Africa pose challenges for future performance.
Past concerns noted regarding promoter holding and pledging levels.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Corporate Announcements

6th Apr 26

Impact Rating: 4

Gokaldas Exports Ltd. filed its SEBI Regulation 74(5) certificate for the quarter ended March 31, 2026. Received from KFin Technologies, the filing confirms compliance by furnishing dematerialisation of securities details to all stock exchanges where the company is listed.

3rd Apr 26

Impact Rating: 5

Gokaldas Exports Ltd has announced the appointment of Mr. Balakrishna Shetty as Chief Operating Officer – India, a Senior Management Personnel. This appointment is effective April 2, 2026.

31st Mar 26

Impact Rating: 7

As per SEBI regulations, Gokaldas Exports Ltd. will observe a trading window closure from April 1, 2026. This period will extend until 48 hours following the declaration of the company's audited financial results for the quarter and fiscal year ended March 31, 2026.

11th Mar 26

Impact Rating: 5

Gokaldas Exports will engage in one-on-one meetings with key institutional investors and research analysts like DAM Capital, Motilal Oswal, and Axis Mutual Fund on March 16, 2026.

10th Mar 26

Impact Rating: 3

Gokaldas Exports announced the allotment of 7,350 equity shares under its ESOP plan on March 10, 2026. This increases paid-up capital from ₹36,61,99,390 to ₹36,62,36,140 and total shares from 7,32,39,878 to 7,32,47,228.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Page Industries	35380.00	51.67	39486.14	2.54	194.76	-0.26	1290.86	3.58	59.40	5018.54	22.16	764.23	194.76	28.01	27.38	0.19
2.	Arvind Ltd	309.80	19.74	8116.40	1.21	106.74	73.14	2371.14	8.35	13.04	8687.36	10.42	411.10	103.40	2.12	4.65	0.40
3.	Pearl Global Ind	1621.00	28.42	7484.76	0.71	71.98	17.96	1312.93	9.24	22.11	4792.42	9.22	263.36	73.30	5.79	9.63	0.58
4.	Gokaldas Exports	684.70	24.71	5021.83	0.00	53.07	0.84	687.86	8.78	12.06	2606.48	10.05	203.25	53.07	2.19	7.15	0.14
5.	Kitex Garments	172.04	38.11	3426.58	0.29	-6.22	-113.21	122.10	-43.44	10.16	895.28	13.82	89.91	-4.93	3.29	6.01	1.14
6.	Lux Industries	1059.20	24.75	3182.02	0.19	23.84	-53.00	778.84	16.08	12.54	2755.57	7.48	128.57	23.84	1.78	6.92	0.29
7.	Kewal Kir.Cloth.	468.25	23.24	2885.60	0.43	42.55	-34.00	287.84	13.69	18.79	905.05	18.70	124.16	42.55	3.29	10.93	0.18
–	Median: 36 Co.	143.09	26.66	563.97	0.0	6.11	19.18	92.83	9.21	12.77	294.94	9.46	16.6	6.11	2.19	6.01	0.4

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	518	545	625	514	564	638	523	583	655	569	497	632	688
Expenses	456	479	560	454	512	576	453	504	586	504	447	573	621
Operating Profit	62	65	65	61	52	62	70	79	69	65	50	59	66
Other Income	11	12	26	11	17	32	9	9	33	14	12	25	30
Profit before tax	49	53	65	48	45	61	53	59	76	56	38	60	62
Tax %	15%	26%	24%	25%	19%	21%	7%	1%	30%	17%	18%	13%	14%
Net Profit	42	39	49	36	36	48	49	58	53	47	31	53	53
EPS in Rs	6.97	6.44	6.91	5.87	5.13	6.56	8.13	9.23	7.39	7.72	5.11	7.37	7.25

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,112	1,070	1,123	915	1,031	1,173	1,368	1,209	1,789	2,221	2,139	2,477	2,606
Expenses	1,069	1,049	1,085	946	1,054	1,112	1,281	1,109	1,585	1,952	1,884	2,232	2,345
Operating Profit	43	21	37	-31	-23	62	87	101	204	269	255	244	262
Other Income	15	90	74	39	47	15	36	12	11	37	45	100	120
Interest	40	47	39	36	37	33	37	34	40	25	24	20	28
Depreciation	25	30	20	17	16	19	54	52	58	71	79	78	91
Profit before tax	-7	34	51	-46	-30	25	32	26	117	210	197	246	263
Net Profit	-7	34	61	-46	-31	26	32	26	117	178	164	191	203
EPS in Rs	-2.10	9.93	17.44	-13.23	-8.83	5.99	7.56	6.12	19.79	29.45	25.90	26.77	28.11
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	3%	0%	4%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	17	17	17	17	17	21	21	21	29	30	32	36	37
Reserves	104	139	195	148	113	218	207	270	680	863	1,310	2,109	2,249
Borrowings	311	311	343	474	472	381	440	476	191	141	254	192	310
Other Liabilities	176	177	168	154	192	202	271	237	325	309	359	426	563
Total Liabilities	608	645	725	794	794	823	939	1,005	1,226	1,343	1,955	2,763	3,159
Fixed Assets	158	125	92	94	95	107	171	235	282	261	254	268	394
Gross Block	439.81	419.96	373.59	111.26	129.96	158.77	276.58	384.97	470.92	499.70	548.28	637.77	–
Accumulated Depreciation	281.35	294.84	282.03	17.46	34.57	51.60	105.37	149.53	189.30	238.98	294.45	369.69	–
CWIP	0	2	2	1	0	1	1	0	0	0	0	4	29
Investments	32	32	29	29	20	20	55	57	174	365	504	842	965
Other Assets	417	485	602	671	679	694	712	713	770	717	1,197	1,649	1,771
Total Assets	608	645	725	794	794	823	939	1,005	1,226	1,343	1,955	2,763	3,159

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	37	69	84	12	25	51	98	118	121	368	130	78
Cash from Investing Activity	21	-17	-83	26	-14	0	-39	-32	-57	-283	-448	-462
Cash from Financing Activity	-37	-37	4	-54	-40	-57	-44	-85	-42	-85	318	493
Net Cash Flow	20	16	6	-16	-28	-6	15	0	22	1	1	108

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	32	26	26	84	77	50	38	54	19	22	36	39
Inventory Days	129	139	119	128	118	180	152	156	178	91	133	140
Days Payable	73	67	64	55	67	60	60	52	48	26	51	52
Cash Conversion Cycle	88	98	81	158	128	171	130	158	148	87	118	127
Working Capital Days	-17	-25	-54	-64	-66	-21	-44	-30	52	26	24	49
ROCE %	5%	8%	9%	-2%	1%	10%	7%	8%	18%	22%	15%	12%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	20.97%	11.07%	11.06%	11.05%	11.05%	10.58%	9.42%	9.39%	9.38%	9.38%	9.17%	9.16%
FIIs	14.65%	17.22%	16.20%	16.96%	20.46%	21.21%	26.55%	27.02%	26.54%	25.79%	24.88%	22.93%
DIIs	24.21%	31.35%	32.31%	32.68%	31.55%	30.03%	31.79%	33.77%	37.01%	36.82%	37.17%	38.94%
Public	40.16%	40.36%	40.44%	39.31%	36.93%	38.18%	32.26%	29.82%	27.08%	27.99%	28.78%	28.97%