Gretex Corporate Services Ltd (GCSL) AI Stock Analysis

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Gretex Corporate Services Ltd

(NSE:GCSL)

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Rating:60Neutral

Price Target:INR 824.00▲(5.18% Upside)

Action:reiterated

Date:09/24/26

The overall score reflects a cautiously positive but moderate view: the strongest factor is financial performance, where a healthy balance sheet and improved margins are offset by poor cash flow conversion and questions around earnings sustainability; technicals are supportive with a clear uptrend and strong momentum but appear stretched and overbought, increasing volatility risk; valuation is elevated given the current fundamentals, and while the dividend yield provides some cushion, it does not fully mitigate the premium pricing and reliance on continued strong execution.

Positive Factors

Strong FY2026 profitabilityThe FY2026 rebound demonstrates that GCSL can generate meaningful operating and net profitability when transaction activity supports its business. The reported margins provide an earnings base that can fund operations and strengthen resilience, although consistency across periods remains important.

Negative Factors

Negative cash generationPersistent negative operating and free cash flow means reported earnings are not converting into liquidity, weakening confidence in earnings quality. If this continues, GCSL may have less internally generated cash for investment, distributions, or absorbing working-capital and timing pressures.

Gretex Corporate Services Ltd (GCSL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 19.22B
Dividend Yield: 0.09%
Average Volume (3M): 26.03K
Price to Earnings (P/E): 66.1
Beta (1Y): 0.67
Revenue Growth: -7.25%
EPS Growth: ―
Country: India
Employees: 59
Sector: General
Sector Strength: 55
Industry: Financial - Capital Markets

Gretex Corporate Services Ltd Business Overview & Revenue Model

Company Description

Gretex Corporate Services Limited, a merchant banking firm established in Mumbai, India, in 2008, provides a comprehensive array of financial and consulting solutions throughout the country. The company's offerings span diverse areas, including corpo...

How the Company Makes Money

GCSL primarily earns revenue through professional fees and commissions tied to corporate advisory and transaction execution. Key revenue streams typically include: (1) Fees for capital-market and fundraising advisory/management (e.g., structuring and...

Gretex Corporate Services Ltd Financial Statement Overview

Summary

Financial performance is mixed: profitability has improved sharply and the balance sheet is conservatively financed with growing equity, but cash generation is weak, with negative operating and free cash flow that casts doubt on the durability and quality of recent earnings.

Income Statement

42Neutral

Balance Sheet

78Positive

Cash Flow

31Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2022
Income Statement
Total Revenue	1.95B	1.79B	387.13M	354.50M	43.96M	126.26M
Gross Profit	927.14M	781.90M	-1.97B	-217.18M	43.46M	116.11M
EBITDA	586.54M	436.90M	27.05M	500.00M	40.50M	245.25M
Net Income	272.51M	188.71M	152.09K	271.53M	35.75M	214.17M
Balance Sheet
Total Assets	0	2.44B	2.70B	1.77B	197.98M	484.46M
Cash, Cash Equivalents and Short-Term Investments	0	32.21M	2.02M	219.29M	10.33M	122.04M
Total Debt	0	145.94M	108.09M	44.21M	22.95M	2.06M
Total Liabilities	-2.19B	254.36M	188.41M	270.87M	30.90M	63.84M
Stockholders Equity	2.19B	1.70B	1.93B	1.09B	135.71M	385.80M
Cash Flow
Free Cash Flow	29.59M	-280.44M	-4.06M	-397.00M	15.86M	94.98M
Operating Cash Flow	31.00M	-280.44M	-3.65M	-186.18M	18.48M	105.04M
Investing Cash Flow	88.05M	-87.11M	145.51K	-372.15M	-43.38M	-75.78M
Financing Cash Flow	-121.37M	260.92M	3.32M	673.54M	29.32M	-21.97M

Gretex Corporate Services Ltd Technical Analysis

Technical Analysis SentimentPositive

Last Price783.40

Price Trends

50DMA684.82Positive

100DMA590.85Positive

200DMA476.03Positive

Market Momentum

MACD30.01Positive

RSI76.26Negative

STOCH81.31Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GCSL, the sentiment is Positive. The current price of 783.40 is above the 20-day moving average (MA) of 755.99, above the 50-day MA of 684.82, and above the 200-day MA of 476.03, indicating a bullish trend. The MACD of 30.01 indicates Positive momentum. The RSI at 76.26 is Negative, neither overbought nor oversold. The STOCH value of 81.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GCSL.

Gretex Corporate Services Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GCSL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ALMONDZ	71Outperform	INR 3.36B	8.09	―	―	26.41%	89.57%
IN:DAMCAPITAL	70Outperform	INR 10.05B	30.46	―	0.68%	―	―
IN:ARIHANTCAP	67Neutral	INR 10.40B	21.61	―	0.52%	22.07%	0.35%
IN:GCSL	60Neutral	INR 18.96B	66.14	―	0.09%	-7.25%	―
IN:EMKAY	57Neutral	INR 7.21B	14.23	―	0.57%	58.43%	107.34%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:CHOICEIN	54Neutral	INR 165.29B	61.87	―	―	33.57%	22.48%

* General Sector Average

Performance Comparison

IN:GCSL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GCSL	Gretex Corporate Services Ltd	783.40	415.20	112.77%
IN:ALMONDZ	Almondz Global Securities Limited	17.16	-0.81	-4.51%
IN:ARIHANTCAP	Arihant Capital Markets Limited	95.68	-4.15	-4.16%
IN:CHOICEIN	Choice International Limited	734.30	-50.60	-6.45%
IN:EMKAY	Emkay Global Financial Services Limited	261.40	-40.57	-13.43%
IN:DAMCAPITAL	DAM Capital Advisors Ltd.	146.90	-91.14	-38.29%

Gretex Corporate Services Ltd Corporate Events

Gretex Publishes Advertisements of September 2026 Financial Results

Nov 6, 2026

Gretex Corporate Services Limited notified the stock exchanges that it published newspaper advertisements containing extracts of its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The a...

Gretex Corporate Services reports full demat compliance for September quarter

Oct 9, 2026

Gretex Corporate Services Ltd has disclosed to BSE and NSE that it has obtained the regulatory certificate required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The cer...

Gretex Corporate Services Closes Trading Window Ahead of Q2 Results

Sep 26, 2026

Gretex Corporate Services Ltd has announced the closure of its trading window for all designated persons and their immediate relatives from October 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations. The restriction will remain i...

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: Sep 24, 2026

Gretex Corporate Services Ltd AI Stock Analysis