Ganges Securities Ltd. (GANGESSECU) AI Stock Analysis

Ganges Securities Ltd.

(NSE:GANGESSECU)

Select Model

Rating:63Neutral

Price Target:INR 109.00▲(6.86% Upside)

Action:downgraded

Date:08/18/26

The score is primarily supported by a very conservative balance sheet and generally solid cash generation, which lowers financial risk. Offsetting this are inconsistent revenue/earnings performance after FY2023 and an expensive valuation (high P/E), while technical indicators are largely neutral with only mild near-term momentum.

Positive Factors

Conservative Balance SheetMinimal-to-zero debt and substantial equity relative to assets provide a strong solvency base. This reduces financing pressure and interest-related risk, preserving flexibility to withstand weaker periods and support future operations without relying heavily on external borrowing.

Negative Factors

Volatile Revenue TrendThe uneven revenue path makes forward earnings less predictable and weakens confidence in sustained business momentum. A sharp FY2024 contraction followed by only a partial recovery suggests that growth has not yet become consistent enough to support dependable medium-term operating performance.

Ganges Securities Ltd. (GANGESSECU) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.15B
Dividend Yield: ―
Average Volume (3M): 354
Price to Earnings (P/E): 39.6
Beta (1Y): 0.93
Revenue Growth: 2.29%
EPS Growth: -48.29%
Country: India
Employees: 2
Sector: General
Sector Strength: 55
Industry: Investment - Banking & Investment Services

Ganges Securities Ltd. Business Overview & Revenue Model

Company Description

Ganges Securities Limited is primarily engaged in the business of holding investments and operating tea plantations. The company's main objective is to invest and deal in securities, mainly of group companies, and in immovable properties. It also ope...

How the Company Makes Money

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Ganges Securities Ltd. Financial Statement Overview

Summary

Strong balance sheet strength (minimal-to-zero debt) and generally positive operating/free cash flow in most years support a solid financial foundation. However, revenue and earnings have been volatile since FY2023, with a sharp FY2024 downturn and only partial recovery, limiting confidence in consistent profitability.

Income Statement

64Positive

Balance Sheet

86Very Positive

Cash Flow

71Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	374.57M	361.09M	379.83M	348.21M	412.35M	342.77M
Gross Profit	164.45M	102.68M	357.01M	333.25M	389.02M	137.61M
EBITDA	45.43M	54.33M	67.27M	67.07M	135.71M	99.84M
Net Income	28.81M	26.90M	50.62M	34.79M	97.47M	79.95M
Balance Sheet
Total Assets	0	5.81B	7.32B	5.70B	4.57B	6.41B
Cash, Cash Equivalents and Short-Term Investments	263.51M	56.48M	347.98M	402.71M	345.66M	281.50M
Total Debt	0	736.00K	999.00K	1.24M	153.00K	26.74M
Total Liabilities	-5.40B	409.34M	562.13M	250.56M	61.34M	169.87M
Stockholders Equity	5.40B	5.40B	6.76B	5.45B	4.51B	6.24B
Cash Flow
Free Cash Flow	181.94M	204.89M	197.87M	-61.11M	211.94M	152.44M
Operating Cash Flow	189.46M	220.58M	213.03M	-52.20M	231.28M	166.66M
Investing Cash Flow	-132.00M	-237.57M	-191.02M	-8.53M	-212.95M	-222.58M
Financing Cash Flow	-2,000	-342.00K	-376.00K	-342.00K	-28.27M	-718.00K

Ganges Securities Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price102.00

Price Trends

50DMA115.86Negative

100DMA117.84Negative

200DMA120.80Negative

Market Momentum

MACD-1.61Positive

RSI33.57Neutral

STOCH37.70Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GANGESSECU, the sentiment is Negative. The current price of 102.00 is below the 20-day moving average (MA) of 113.60, below the 50-day MA of 115.86, and below the 200-day MA of 120.80, indicating a bearish trend. The MACD of -1.61 indicates Positive momentum. The RSI at 33.57 is Neutral, neither overbought nor oversold. The STOCH value of 37.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GANGESSECU.

Ganges Securities Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GANGESSECU against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BBTC	74Outperform	INR 80.02B	6.20	―	1.83%	6.63%	13.07%
IN:DVL	64Neutral	INR 9.46B	4.83	―	1.85%	-23.39%	33.38%
IN:GANGESSECU	63Neutral	INR 1.02B	39.63	―	―	2.29%	-48.29%
IN:COASTCORP	57Neutral	INR 2.18B	6.74	―	0.86%	53.28%	348.44%
IN:REGAAL	57Neutral	INR 8.88B	14.24	―	0.29%	―	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:PALASHSECU	42Neutral	INR 900.28M	5.06	―	―	-35.60%	―

* General Sector Average

Performance Comparison

IN:GANGESSECU and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GANGESSECU	Ganges Securities Ltd.	102.00	-55.20	-35.11%
IN:BBTC	Bombay Burmah Trading Corp. Ltd.	1146.85	-814.56	-41.53%
IN:COASTCORP	Coastal Corporation Limited	32.62	-8.15	-19.99%
IN:DVL	Dhunseri Ventures Limited	270.20	-48.96	-15.34%
IN:PALASHSECU	Palash Securities Ltd.	90.00	-28.05	-23.76%
IN:REGAAL	Regaal Resources Limited	86.19	-3.57	-3.98%

Ganges Securities Ltd. Corporate Events

Ganges Securities Closes Trading Window Ahead of Quarterly Results

Sep 27, 2026

Ganges Securities Limited has announced that its trading window for dealing in the company’s shares will be closed from October 1, 2026 until 48 hours after the declaration of its financial results for the quarter ending September 30, 2026. Thi...

Ganges Securities shareholders clear all resolutions at fully virtual AGM

Aug 11, 2026

Ganges Securities Ltd. held its 12th Annual General Meeting on 11 August 2026 via two-way video conferencing and other audio-visual means, in line with MCA and SEBI guidelines for virtual meetings. The session, chaired by director Brij Mohan Agarwal,...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 18, 2026

Ganges Securities Ltd. AI Stock Analysis