Glittek Granites Ltd (GLITTEKG)

Loading page…

Glittek Granites Ltd (GLITTEKG) · mywealthgrid

About

Glittek Granites Ltd operates in construction materials (granite or similar segments) at very small scale: quarterly revenues between ₹0.2–₹2.3 Cr and market cap ₹172.38 Cr. The company has exhibited extreme stock volatility (1y return 486.73%, 52w range ₹8.32–₹79.23) that appears disconnected from its minimal revenue base.

Face value: ₹5

Market cap

₹208 Cr

P/E

30.3×

P/B

19.4×

Dividend yield

ROE

-3.5%

ROCE

-3.4%

Debt / equity

OPM

—

EPS (TTM)

₹2.6

Book value

₹4.1

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Chronic operating losses: negative operating margins in 8 of last 8 quarters (ranging -610.99% to -1.01% where computable), indicating operations do not generate profit from revenue

Sharp revenue collapse: quarterly revenue fell 81% from ₹1.6 Cr (Mar 2024) to ₹0.31 Cr (Mar 2025), signaling severe demand or capacity crisis

Extreme stock volatility (52w range ₹8.32–₹79.23, 1y return 486%) despite minimal revenues indicates illiquidity and speculative trading; difficult exit for material positions

Erratic profitability: EPS negative in 7 of last 8 quarters; Mar 2025 anomaly (₹26.04 Cr profit, EPS=0) requires verification; PE 25.13 is expensive relative to mostly-negative, unreliable earnings

Generated analysis · source review pending

Growth drivers

Very low debt (D/E 0.03) provides balance-sheet capacity for growth capex or acquisitions should operations stabilize

Mar 2025 net profit ₹26.04 Cr breaks 7-quarter loss streak — verify if sustainable or one-time, and whether reflects operational improvement

Verify if construction materials sector is in demand recovery (infrastructure spending, real estate capex) that could lift utilization and margins for small producers

Verify company's niche or cost advantage; small scale and historical losses suggest survival depends on specific competitive positioning to verify

Generated analysis · source review pending

1,865 historical price candles were omitted because the exchange source has not been verified.

₹79.9-0%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+High promoter holding of 70.6% with no pledge

Cons

−Low return on equity of 1% (3-yr avg)
−Revenue shrank over the last 5 years (-67.8% a year)
−Weak interest coverage of -38×
−Trading at 19.4× book value

Research score

Structured signal from quality, growth, valuation and momentum.

24/100

Business quality: 25
Growth: 0
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	34	26	24	21	18	14	9	13	7	2	0
COGS	-12	-10	-10	-9	-8	8	3	6	6	18	0
Gross profit	—	—	—	—	—	6	6	8	1	-16	-0
	43	34	32	29	25	8	7	6	6	6	2
	3	2	2	1	1	-2	-0	1	-4	-22	-2
OPM %	9.1%	6.9%	7.7%	3.7%	3.4%	-13%	-3.8%	9.4%	-59.2%	-1,060.8%	—
Depreciation	1	1	1	1	1	1	1	1	0	0	0
Interest	1	1	1	1	2	1	1	2	2	2	0
	-0	0	0	0	0	0	0	0	0	31	1
Profit before tax	1	0	0	-1	-2	-4	-2	-1	-6	7	-0
Tax	0	0	-1	—	-0	-1	-0	-0	0	1	0
Tax %	20.9%	64.3%	-239.4%	—	-20.7%	-20%	-0.9%	-9.3%	0%	8.2%	0%
	1	0	1	-1	-1	-3	-2	-1	-6	7	-0
PAT margin %	2.1%	0.4%	4.8%	-4.3%	-7.7%	-21.6%	-25.2%	-5.8%	-88.6%	336.3%	-780%
EPS (₹)	0.3	0	0.4	-0.3	-0.5	-2.4	-0.9	-0.3	-2.4	2.6	0.2
EPS adjusted (₹)	—	—	—	—	-0.5	-1.2	-0.9	-0.3	-2.3	2.6	-0.2
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	13	13	13	13
Reserves	—	1	-2	-2	-8	-2	-2
	—	18	20	22	20	0	0
	—	2	1	2	2	2	0
Total equity & liabilities	—	34	33	35	27	13	11
	6	5	4	3	3	0	0
CWIP	—	0	0	0	0	0	0
Investments	—	0	0	0	0	1	3
	—	29	29	32	24	12	8
Total assets	—	34	33	35	27	13	11

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	44.5%	69.5%	57.7%	20.3%	-788.7%	-60%
EBITDA margin %	3.7%	3.4%	-13%	-3.8%	9.4%	-59.2%	-1,060.8%	-3,400%
EBIT margin %	-1%	-1.9%	-19.7%	-14.1%	3.1%	-65.8%	-1,067.2%	-3,480%
PAT margin %	-4.3%	-7.7%	-21.6%	-25.2%	-5.8%	-88.6%	336.3%	-780%
Working capital
Receivable days	—	—	157	180	218	161	0	0
Inventory days	—	—	913	2,848	1,357	1,218	2	0
Payable days	—	—	67	82	111	70	6	0
NWC days	—	—	1,003	2,946	1,464	1,309	-5	0
Leverage
Current ratio	—	—	1.36	1.58	1.63	1.26	6.19	188.2
Debt to EBITDA	—	—	—	—	17.49	—	—	—
Debt to equity	—	—	1.29	1.73	1.99	4.09	0	0
Interest coverage	0	-0	-2	-0.8	0.5	-2.6	4.9	-38
Asset turnover	—	—	0.42	0.27	0.38	0.26	0.15	0
Return ratios
Return on assets %	—	—	-9%	-6.9%	-2.2%	-22.8%	52%	-3.5%
Return on capital employed %	—	—	-18.2%	-6.9%	5%	-33.5%	90.1%	-3.4%
Return on equity %	—	—	-22.1%	-19.6%	-7.1%	-123.8%	59.4%	-3.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.91%	63.91%	64.79%	64.79%	64.69%	64.76%	64.76%	64.76%	64.18%	62.99%	62.99%	70.59%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	7.77%	7.77%	7.6%	7.6%	7.6%	7.6%	7.6%	7.6%	7.6%	7.6%	7.6%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.32%	28.32%	27.61%	27.61%	27.71%	27.64%	27.64%	27.64%	28.22%	29.41%	29.41%	29.41%
No. of shareholders	—	—	—	—	—	—	—	—	10,898	10,733	11,071	10,807

Promoter holding up 6.68 percentage points since Sep 2023.

10 deals · 22 Jul 2025 – 25 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Mar 2026	MANISH ARVIND SHAH HUF	Bulk	BSE	Buy	1,55,450	₹33.74	₹0.52 Cr
1 Feb 2026	NEO APEX VENTURE LLP	Bulk	BSE	Sell	1,50,000	₹30.29	₹0.45 Cr
1 Feb 2026	NEO APEX VENTURE LLP	Bulk	BSE	Buy	84,269	₹27.42	₹0.23 Cr
27 Jan 2026	SUDHANSHU KANDA	Bulk	BSE	Sell	1,53,340	₹22.92	₹0.35 Cr
27 Jan 2026	NEO APEX VENTURE LLP	Bulk	BSE	Buy	1,50,000	₹22.58	₹0.34 Cr
27 Jan 2026	ALGOQUANT FINTECH LIMITED	Bulk	BSE	Sell	1,30,807	₹22.58	₹0.30 Cr
27 Jan 2026	NEO APEX VENTURE LLP	Bulk	BSE	Sell	25,000	₹24.93	₹0.06 Cr
2 Jan 2026	RASILA ARVIND SHAH	Bulk	BSE	Sell	1,74,481	₹12.05	₹0.21 Cr
24 Dec 2025	ASHOKE AGARWAL	Bulk	BSE	Sell	1,60,000	₹11.18	₹0.18 Cr
22 Jul 2025	ADITYA KUMAR MITTAL	Bulk	BSE	Sell	1,81,822	₹13.13	₹0.24 Cr

1–10 of 10

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. MAHESHKUMAR JATASHANKAR THANKIExecutive Director-Chairperson
Mr. BHARGAV GIRJASHANKAR THANKIExecutive Director-MD
Mr. BHAVIN HARIHAR THANKIExecutive Director
Mr. SUNIL KUMAR BANSALNon-Executive - Independent Director-Shareholder Director
Mrs. KAVITA RAKESH SHAHNon-Executive - Independent Director-Shareholder Director
Mr. DEEPENDRA SINGHNon-Executive - Independent Director-Shareholder Director
Mr. Gautam ThankiChief Financial Officer
Lata BagriCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Glittek Granites Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results12 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

60 announcementsExport CSV

22 Sept 2026, 4:36 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	44.5%	69.5%	57.7%	20.3%	-788.7%	-60%
EBITDA margin %	3.7%	3.4%	-13%	-3.8%	9.4%	-59.2%	-1,060.8%	-3,400%
EBIT margin %	-1%	-1.9%	-19.7%	-14.1%	3.1%	-65.8%	-1,067.2%	-3,480%
PAT margin %	-4.3%	-7.7%	-21.6%	-25.2%	-5.8%	-88.6%	336.3%	-780%
Working capital
Receivable days	—	—	157	180	218	161	0	0
Inventory days	—	—	913	2,848	1,357	1,218	2	0
Payable days	—	—	67	82	111	70	6	0
NWC days	—	—	1,003	2,946	1,464	1,309	-5	0
Leverage
Current ratio	—	—	1.36	1.58	1.63	1.26	6.19	188.2
Debt to EBITDA	—	—	—	—	17.49	—	—	—
Debt to equity	—	—	1.29	1.73	1.99	4.09	0	0
Interest coverage	0	-0	-2	-0.8	0.5	-2.6	4.9	-38
Asset turnover	—	—	0.42	0.27	0.38	0.26	0.15	0
Return ratios
Return on assets %	—	—	-9%	-6.9%	-2.2%	-22.8%	52%	-3.5%
Return on capital employed %	—	—	-18.2%	-6.9%	5%	-33.5%	90.1%	-3.4%
Return on equity %	—	—	-22.1%	-19.6%	-7.1%	-123.8%	59.4%	-3.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Ramco Industries LimitedRAMCOINDRAMCOIND	₹2,624 Cr	₹2,793 Cr	₹1,870 Cr	₹269 Cr	13%	₹327 Cr	17.1%	4.7%	7%	242
Glass Wall Systems (India) LimitedGLASSWALLGLASSWALL	₹2,378 Cr	₹2,384 Cr	₹457 Cr	₹105 Cr	23%	₹84 Cr	18.3%	50.4%	38.6%	—
Arisinfra Solutions LimitedARISARIS	₹1,134 Cr	₹1,189 Cr	₹1,146 Cr	₹113 Cr	9.4%	₹66 Cr	5.7%	21.4%	10.9%	71
Birlanu LimitedBIRLANUBIRLANU	₹1,043 Cr	₹1,896 Cr	₹3,852 Cr	₹43 Cr	0.3%	₹-109 Cr	-3.2%	-4.9%	-10.3%	62
Everest Industries LimitedEVERESTINDEVERESTIND	₹756 Cr	₹884 Cr	₹1,352 Cr	₹-10 Cr	-2.7%	₹-1 Cr	-7.2%	-9%	-18.6%	97
Midwest Gold LtdREMAGNETREMAGNET	₹488 Cr	₹584 Cr	₹4 Cr	₹6 Cr	-8.3%	₹3 Cr	11.5%	2%	1.1%	369
Marble City India LtdMARBLEMARBLE	₹423 Cr	₹528 Cr	₹59 Cr	₹13 Cr	25.3%	₹2 Cr	5.5%	14.6%	6.6%	661
Sahyadri Industries LimitedSAHYADRISAHYADRI	₹388 Cr	₹404 Cr	₹723 Cr	₹80 Cr	9%	₹45 Cr	4.3%	10.6%	7.4%	142
Om Galaxy LtdOMGOMG	₹303 Cr	—	—	—	—	—	—	—	—	—
Glittek Granites LtdGLITTEKGGLITTEKG	₹208 Cr	₹208 Cr	₹2 Cr	₹-22 Cr	—	₹7 Cr	-780%	-3.4%	-3.5%	0
Nidhi Granites LtdNIDHGRNNIDHGRN	₹196 Cr	₹197 Cr	₹65 Cr	₹12 Cr	18.9%	₹8 Cr	11.8%	56.6%	41%	67
Divyashakti LtdDIVSHKTDIVSHKT	₹70 Cr	₹75 Cr	₹57 Cr	₹9 Cr	-1.5%	₹6 Cr	3%	0.8%	0.5%	1,145

Date	Category	Subject	Filing
22 Sept 2026, 4:36 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
29 Aug 2026, 4:43 pm	Company Update General	Disclosure Under Regulation 30 Read With Regulation 36(1)(B) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
29 Aug 2026, 4:24 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
28 Aug 2026, 6:28 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
28 Aug 2026, 5:41 pm	AGM/EGM AGM	Notice Of 36Th Annual General Meeting Of The Company Along With The Annual Report For Financial Year 2025-26	PDF
28 Aug 2026, 5:22 pm	AGM/EGM AGM	Notice Of 36Th Annual General Meeting To Be Held On September 22, 2026 Along With The Annual Report For FY 2025-26	PDF
28 Aug 2026, 5:10 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
14 Aug 2026, 5:31 pm	Others Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate	Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	-1	-0	3	32	-2
	-0	0	0	0	1	-5
	-1	1	-0	-3	-23	3
Net cash flow	-0	0	0	0	10	-3
Free cash flow	1	-1	-0	3	32	-2
CFO / Operating profit %	—	—	-1.6%	—	—	—

Glittek Granites Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Not in the F&O segment

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Board meetings1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1