Godrej Industries Limited (GODREJIND)

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Godrej Industries Limited (GODREJIND) · mywealthgrid

About

Godrej Industries Limited is a diversified industrial company with a market capitalisation of ₹42,184.2 Crores. The company operates two primary business segments with combined standalone quarterly revenue of ₹5.5–9 Crores, generating variable profitability across the portfolio. Promoter shareholding at 74.64% provides stable ownership.

Face value: ₹1

Market cap

₹34,340 Cr

P/E

29.2×

P/B

3.1×

Dividend yield

ROE

11.6%

ROCE

12.6%

Debt / equity

4.57

OPM

10.1%

EPS (TTM)

₹34.9

Book value

₹331.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Debt-to-equity ratio of 4.57 is significantly elevated; secondary segment's net losses despite operational profitability (15.73% OPM in Jun 2025 but −₹30 Cr net profit) indicate substantial finance costs are eroding returns
Primary segment operating margins show high volatility (2.66% to 15.17% OPM over four quarters), suggesting operational inconsistency or significant mix variations; verify whether margins reflect pricing pressure, cost inflation, or operational execution
Expensive valuation with PE of 34.01 against ROE of 11.63%; earnings growth must accelerate materially to justify current multiples
Secondary segment profit is highly erratic (−₹30 Cr in June, +₹99 Cr in Sep, −₹21 Cr in Dec 2025), constraining earnings predictability and making segment viability unclear

Generated analysis · source review pending

Growth drivers

Primary segment revenue of ₹4.5–7.7 Cr per quarter provides scale; if operating margins can stabilise at 15%+ levels seen in Mar 2026, profitability would improve significantly
Secondary segment achieved 22.48% OPM in Sep 2025, demonstrating underlying operational strength; verify whether this margin level can be sustained and expanded
Diversified revenue streams from two segments provide exposure to multiple industrial verticals; verify which segments align with India's infrastructure and manufacturing investment cycles

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,019.6-3.4%1Y

Quick read

rule-based

Pros

+Profit CAGR of 30% over the last 5 years
+Revenue CAGR of 19% over the last 5 years
+High promoter holding of 74.6% with no pledge

Cons

−Low return on equity of 7.7% (3-yr avg)
−Heavily leveraged (debt/equity 4.6)

Research score

Structured signal from quality, growth, valuation and momentum.

32/100

Business quality: 16
Growth: 40
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.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
3m India Limited3MINDIA3MINDIA	₹34,798 Cr	₹34,798 Cr	₹4,186 Cr	₹791 Cr	18.1%	₹611 Cr	13.9%	40%	30.5%	19
Godrej Industries LimitedGODREJINDGODREJIND	₹34,340 Cr	₹85,378 Cr	₹23,225 Cr	₹2,419 Cr	10.1%	₹1,176 Cr	10.9%	12.6%	11.6%	1,365
Dcm Shriram LimitedDCMSHRIRAMDCMSHRIRAM	₹14,138 Cr	₹16,950 Cr	₹14,593 Cr	₹1,530 Cr	10.5%	₹1,436 Cr	6%	12%	11.6%	126
Balmer Lawrie & Company LimitedBALMLAWRIEBALMLAWRIE	₹2,724 Cr	₹2,799 Cr	₹2,785 Cr	₹367 Cr	12.9%	₹279 Cr	10%	13.1%	13.7%	35
Ttk Healthcare LimitedTTKHLTCARETTKHLTCARE	₹1,428 Cr	₹1,452 Cr	₹888 Cr	₹38 Cr	3.1%	₹74 Cr	7.7%	8.2%	6%	63
Empire Industries LtdEMPINDEMPIND	₹636 Cr	₹778 Cr	₹498 Cr	₹31 Cr	10.3%	₹23 Cr	5.1%	13.4%	11.2%	143
Panth Infinity LtdPANTHPANTH	₹58 Cr	₹133 Cr	₹30 Cr	₹2 Cr	6.3%	₹1 Cr	4.7%	10%	18.9%	183
Krypton Industries LtdKRYPTONQKRYPTONQ	₹48 Cr	₹69 Cr	₹52 Cr	₹7 Cr	13.1%	₹1 Cr	5.1%	14.4%	8.4%	224
Galactico Corporate Services LtdGALACTICOGALACTICO	₹35 Cr	₹42 Cr	₹24 Cr	₹2 Cr	7.8%	₹2 Cr	6.7%	6.3%	4.8%	-40
Swasti Vinayaka Art And Heritage Corporation LtdSVARTCORPSVARTCORP	₹29 Cr	₹37 Cr	₹8 Cr	₹3 Cr	24.9%	₹2 Cr	18.3%	19.4%	20%	618
Billwin Industries LtdBILLWINBILLWIN	₹19 Cr	—	₹8 Cr	₹1 Cr	10.8%	₹0 Cr	5.8%	—	—	—
HCKK Ventures LtdHCKKVENTUREHCKKVENTURE	₹12 Cr	₹12 Cr	₹0 Cr	₹-0 Cr	-853.3%	₹-1 Cr	-653.3%	-27.3%	-25.1%	0

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8,483	9,405	11,140	11,291	9,334	14,130	16,740	16,601	19,657	22,237
COGS	5,191	7,152	8,619	8,356	6,862	10,550	12,114	11,420	12,698	14,030
Gross profit	3,291	2,253	2,521	2,935	2,471	3,580	4,626	5,180	6,959	8,207
	2,651	1,425	1,317	1,863	1,805	2,252	2,721	3,989	4,485	5,520
	641	827	1,204	1,072	666	1,328	1,906	1,191	2,474	2,687
OPM %	7.6%	8.8%	10.8%	9.5%	7.1%	9.4%	11.4%	7.2%	12.6%	12.1%
Depreciation	148	175	173	234	242	274	305	371	430	501
Interest	402	413	516	493	469	623	943	1,352	1,957	2,470
	192	576	572	735	663	851	1,022	1,496	2,267	3,678
Profit before tax	626	815	1,086	1,081	617	1,282	1,681	964	2,353	3,393
Tax	167	184	222	273	226	290	260	369	495	982
Tax %	26.7%	22.5%	20.5%	25.2%	36.7%	22.6%	15.5%	38.3%	21%	28.9%
	459	631	864	808	391	992	1,421	595	1,858	2,412
PAT margin %	5.4%	6.7%	7.8%	7.2%	4.2%	7%	8.5%	3.6%	9.5%	10.9%
EPS (₹)	7.1	12.5	17.5	16.4	9.9	19.4	29	1.8	29.1	36.8
EPS adjusted (₹)	7.6	12.5	25.7	16.4	9.9	19.4	29	1.8	29.1	36.8
	24.5%	14%	6.6%	0%	0%	0%	0%	0%	0%	—
Annual report	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	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	34	34	34	34	34	34	34	34	34	34	34
Reserves	2,985	3,162	2,657	4,313	5,755	7,520	7,093	7,951	7,968	10,118	11,143
Minority interest	—	1,475	1,098	2,212	3,562	5,817	5,954	6,317	7,118	11,196	12,008
	5,643	7,101	7,101	6,823	6,650	9,955	14,390	19,449	28,807	37,851	51,038
	3,923	3,450	5,398	4,890	4,449	5,677	6,570	10,226	17,622	28,745	52,082
Total equity & liabilities	12,585	15,220	16,287	18,271	20,449	29,002	34,041	43,975	61,548	87,944	1,26,305
	1,696	3,155	3,155	3,663	3,740	4,007	4,625	4,916	5,982	6,295	6,830
CWIP	723	54	54	200	329	439	459	926	442	231	406
Investments	615	723	723	1,974	2,763	10,465	9,934	8,328	8,984	11,745	11,680
	9,551	11,288	12,355	12,435	13,618	14,092	19,023	29,805	46,140	69,673	1,07,389
Total assets	12,585	15,220	16,287	18,271	20,449	29,002	34,041	43,975	61,548	87,944	1,26,305

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Estate and Property Development	8,504.33	2,862.3	81,695.32	61,818.11	19,877.21	14.4
Animal Nutrition	4,941.54	350.55

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	22.6%	26%	26.5%	25.3%	27.6%	31.2%	35.4%	36.9%
EBITDA margin %	5.7%	7.2%	3.4%	7.4%	9%	7.5%	10.7%	10.1%
EBIT margin %	4.1%	5.1%	0.8%	5.4%	7.2%	5.3%	8.5%	7.8%
PAT margin %	7.8%	7.2%	4.2%	7%	8.5%	3.6%	9.5%	10.9%
Working capital
Receivable days	38	53	60	43	33	28	30	33
Inventory days	144	139	329	267	421	781	998	1,558
Payable days	80	95	181	129	147	159	150	225
NWC days	103	97	208	181	307	650	878	1,365
Leverage
Current ratio	—	—	1.46	1.36	1.18	1.15	1.27	1.09
Debt to EBITDA	10.81	8.2	31.76	13.79	12.88	23.15	18.03	22.77
Debt to equity	1.57	1.15	1.32	2.02	2.44	3.6	3.73	4.57
Interest coverage	1.8	2.3	1.6	2.7	2.4	1.8	2	2.2
Asset turnover	0.61	0.55	0.32	0.42	0.38	0.27	0.22	0.18
Return ratios
Return on assets %	4.7%	4%	1.3%	2.9%	3.2%	1%	2.1%	1.9%
Return on capital employed %	—	—	4.3%	9.5%	10.9%	9.7%	11.6%	12.6%
Return on equity %	19.9%	14%	5.2%	13.9%	17.8%	7.4%	18.3%	21.6%

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.

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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
	67.16%	67.16%	67.16%	67.16%	67.69%	65.73%	69.65%	70.97%	71.31%	74.64%	74.64%	74.64%
	10.39%	10.17%	7.93%	8.03%	8.38%	8.25%	6.97%	5.66%	5.12%	4.86%	4.47%	4.57%
	2.35%	2.91%	4.86%	5.01%	4.76%	4.42%	2.5%	2.54%	2.77%	3.29%	3.48%	3.47%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	20.1%	19.76%	20.05%	19.8%	19.17%	21.6%	20.88%	20.83%	20.8%	17.21%	17.41%	17.32%
No. of shareholders	—	—	—	—	—	—	—	—	82,219	81,889	84,014	84,502

Promoter holding up 7.48 percentage points since Sep 2023.

48 deals · 19 Sept 2022 – 14 Nov 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Nov 2025	GODREJ FOUNDATION	Bulk	BSE	Sell	1,12,13,760	₹1,062.45	₹1,191.41 Cr
14 Nov 2025	GODREJ SEEDS & GENETICS LIMITED	Bulk	BSE	Buy	75,29,766	₹1,062.45	₹800.00 Cr
14 Nov 2025	GODREJ SEEDS & GENETICS LIMITED	Block	BSE	Buy	75,29,766	₹1,062.45	₹800.00 Cr
14 Nov 2025	GODREJ FOUNDATION	Block	BSE	Sell	75,29,766	₹1,062.45	₹800.00 Cr
14 Nov 2025	ANAMUDI REAL ESTATES LLP	Block	BSE	Buy	36,83,994	₹1,062.45	₹391.41 Cr
14 Nov 2025	GODREJ FOUNDATION	Block	BSE	Sell	36,83,994	₹1,062.45	₹391.41 Cr
14 Nov 2025	ANAMUDI REAL ESTATES LLP	Bulk	BSE	Buy	36,83,994	₹1,062.45	₹391.41 Cr
26 Mar 2025	LANA PIROJSHA GODREJ	Block	BSE	Sell	88,230	₹1,193.00	₹10.53 Cr
26 Mar 2025	PIROJSHA ADI GODREJ	Block	BSE	Buy	88,230	₹1,193.00	₹10.53 Cr
21 Feb 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	31,15,093	₹1,100.30	₹342.75 Cr

1–10 of 48

1 / 5

Mr. NADIR BURJOR GODREJExecutive Director-Chairperson related to Promoter-MD
Ms. TANYA DUBASHExecutive Director
Clement PintoChief Financial Officer
Mr. PIROJSHA ADI GODREJNon-Executive - Non Independent Director
Ms. NISABA GODREJNon-Executive - Non Independent Director
Mr. VISHAL SHARMAExecutive Director
Mr. EIPE MATHEWNon-Executive - Independent Director
Mr. GANAPATI DADASAHEB YADAVNon-Executive - Independent Director
Ms. MONAZ NOBLENon-Executive - Independent Director
Ms. SHWETA BHATIANon-Executive - Independent Director
Mr. SANDEEP MURTHYNon-Executive - Independent Director

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Fund holders

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

Portfolio month

Schemes holding

across 11 fund houses

Held by these funds

1.92%

of the company's equity

All mutual funds

2.78%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

34 schemes · 11 fund houses

		Shares
SMALL CAP FUND	Tata Mutual Fund	39.5 L	448.13	3.42%	1.173%	-0
LARGE & MID CAP FUND	Tata Mutual Fund	17.46 L	198.05	2.58%	0.518%	-0
RETIREMENT SAVINGS FUND-PROGRESSIVE PLAN	Tata Mutual Fund	2.53 L	28.76	1.28%	0.075%	-0
RETIREMENT SAVINGS FUND-MODERATE PLAN	Tata Mutual Fund	2.41 L	27.34	1.21%	0.072%	-0
CHILDRENS FUND	Tata Mutual Fund	50,000	5.67	1.71%	0.015%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	41,911	4.75	0.11%	0.012%	+1,482
ETF Nifty Midcap 150	Nippon India Mutual Fund	41,163	4.67	0.11%	0.012%	+2,443
Small Cap Fund	Quantum Mutual Fund	37,286	4.23	1.59%	0.011%	+2,281

1–8 of 34

1 / 5

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Documents

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

Announcements

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Events

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

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

17 announcementsExport CSV

28 Sept 2026, 3:32 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

18 Sept 2026, 1:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment

Allotment of Equity Shares PDF

11 Sept 2026, 3:00 pmCompany Update

Approval Of Key Information Document For Issue Up To 75,000 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures Aggregating Up To Rs. 750 Crore On Private Placement Basis.

General PDF

27 Aug 2026, 4:20 pmCompany Update

Intimation To Shareholders Holding Shares In Physical Form

General PDF

24 Aug 2026, 1:02 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

22 Aug 2026, 12:46 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

21 Aug 2026, 5:32 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Notice of Postal Ballot

Postal Ballot PDF

14 Aug 2026, 4:05 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

Date	Category	Subject	Filing
28 Sept 2026, 3:32 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
18 Sept 2026, 1:00 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	22.6%	26%	26.5%	25.3%	27.6%	31.2%	35.4%	36.9%
EBITDA margin %	5.7%	7.2%	3.4%	7.4%	9%	7.5%	10.7%	10.1%
EBIT margin %	4.1%	5.1%	0.8%	5.4%	7.2%	5.3%	8.5%	7.8%
PAT margin %	7.8%	7.2%	4.2%	7%	8.5%	3.6%	9.5%	10.9%
Working capital
Receivable days	38	53	60	43	33	28	30	33
Inventory days	144	139	329	267	421	781	998	1,558
Payable days	80	95	181	129	147	159	150	225
NWC days	103	97	208	181	307	650	878	1,365
Leverage
Current ratio	—	—	1.46	1.36	1.18	1.15	1.27	1.09
Debt to EBITDA	10.81	8.2	31.76	13.79	12.88	23.15	18.03	22.77
Debt to equity	1.57	1.15	1.32	2.02	2.44	3.6	3.73	4.57
Interest coverage	1.8	2.3	1.6	2.7	2.4	1.8	2	2.2
Asset turnover	0.61	0.55	0.32	0.42	0.38	0.27	0.22	0.18
Return ratios
Return on assets %	4.7%	4%	1.3%	2.9%	3.2%	1%	2.1%	1.9%
Return on capital employed %	—	—	4.3%	9.5%	10.9%	9.7%	11.6%	12.6%
Return on equity %	19.9%	14%	5.2%	13.9%	17.8%	7.4%	18.3%	21.6%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	199	569	1,689	448	411	-664	-1,756	-4,409	-4,284	-5,151	-8,855
	-188	-234	-1,016	-214	3	-5,161	43	1,775	-2,752	-4,597	202
	2	-528	-959	218	-609	5,772	1,916	3,535	7,219	10,689	8,056
Net cash flow	13	-193	-286	452	-195	-52	203	901	183	941	-597
Free cash flow	-168	287	1,205	—	—	-1,409	-2,280	-5,237	-5,482	-5,932	-9,883
CFO / Operating profit %	—	88.8%	382.4%	70.9%	50.7%	-211.7%	-168.3%	-292%	-344.2%	-245.4%	-395%

Godrej Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

13

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Animal Feeds · revenue

Godrej Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

Announcements

Annual reports

Credit ratings

Dividends13

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Animal Feeds · revenue

13

1