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Gretex Corporate Services Ltd
(GCSL)
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Rating:57Neutral
Price Target:
₹726.00
▲(228.51% Upside)
Action:Reiterated
Date:09/24/26
The score is held back primarily by weak financial quality—especially consistently negative operating/free cash flow and high year-to-year volatility—despite a low-leverage balance sheet and FY2026 profitability rebound. Technicals are supportive with a strong uptrend, but overbought signals add near-term risk. Valuation is mixed: a high P/E is a headwind, partly offset by a strong dividend yield.
Positive Factors
Conservative balance sheet
Very low leverage gives GCSL financial flexibility and reduces the burden of interest obligations during periods of uneven advisory activity. The meaningful increase in equity also strengthens its capital base, supporting resilience and the ability to sustain operations through variable transaction volumes.
Negative Factors
Negative cash generation
Persistent negative operating and free cash flow means reported profits are not converting into liquidity, weakening confidence in earnings quality. If this continues, GCSL may have less internally generated funding for growth and greater exposure to working-capital timing or collection pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives GCSL financial flexibility and reduces the burden of interest obligations during periods of uneven advisory activity. The meaningful increase in equity also strengthens its capital base, supporting resilience and the ability to sustain operations through variable transaction volumes.
Read all positive factors
Gretex Corporate Services Ltd (GCSL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹16.94B
Dividend Yield0.1%
Average Volume (3M)30.75K
Price to Earnings (P/E)45.7
Beta (1Y)0.79
Revenue Growth-21.72%
EPS GrowthN/A
CountryIN
Employees59
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)15.33
Shares Outstanding24,159,346
10 Day Avg. Volume12,260
30 Day Avg. Volume30,746
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.24
Price to Sales (P/S)3.08
P/FCF Ratio-19.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 co...
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 ...
Gretex Corporate Services Ltd Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
78
Positive
Cash Flow
25
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.95B | 1.79B | 387.13M | 354.50M | 126.26M | 43.96M |
| Gross Profit | 927.14M | 781.90M | -1.97B | -217.18M | 116.11M | 43.46M |
| EBITDA | 586.54M | 436.90M | 27.05M | 500.00M | 245.25M | 40.50M |
| Net Income | 272.51M | 188.71M | 152.09K | 271.53M | 214.17M | 35.75M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.44B | 2.70B | 1.77B | 484.46M | 197.98M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 32.21M | 2.02M | 219.29M | 122.04M | 10.33M |
| Total Debt | 0.00 | 145.94M | 108.09M | 44.21M | 2.06M | 22.95M |
| Total Liabilities | -2.19B | 254.36M | 188.41M | 270.87M | 63.84M | 30.90M |
| Stockholders Equity | 2.19B | 1.70B | 1.93B | 1.09B | 385.80M | 135.71M |
Cash Flow | ||||||
| Free Cash Flow | 29.59M | -280.44M | -4.06M | -397.00M | 94.98M | 15.86M |
| Operating Cash Flow | 31.00M | -280.44M | -3.65M | -186.18M | 105.04M | 18.48M |
| Investing Cash Flow | 88.05M | -87.11M | 145.51K | -372.15M | -75.78M | -43.38M |
| Financing Cash Flow | -121.37M | 260.92M | 3.32M | 673.54M | -21.97M | 29.32M |
Gretex Corporate Services Ltd Technical Analysis
Positive
221.00
Price Trends
579.57
Positive
515.60
Positive
429.97
Positive
Market Momentum
35.00
Negative
80.13
Negative
57.79
Neutral
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 221 is below the 20-day moving average (MA) of 649.21, below the 50-day MA of 579.57, and below the 200-day MA of 429.97, indicating a bullish trend. The MACD of 35.00 indicates Negative momentum. The RSI at 80.13 is Negative, neither overbought nor oversold. The STOCH value of 57.79 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹1.14B | 15.54 | ― | 5.38% | 6.28% | 12.91% | |
59 Neutral | ₹270.61M | 18.30 | ― | 1.26% | -3.45% | -27.44% | |
57 Neutral | ₹16.94B | 45.73 | ― | 0.10% | -21.72% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹1.57B | 47.47 | ― | ― | 14.73% | 0.98% |
* General Sector Average
IN:GCSL
Gretex Corporate Services Ltd
701.20
433.37
161.80%
IN:CKFSL
Cox & Kings Financial Service Ltd.
―
―
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IN:INDBANK
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25.66
-17.03
-39.89%
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150.00
40.70
37.24%
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0.00
0.00%
IN:TGBHOTELS
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-2.25
-19.58%
Gretex Corporate Services Ltd Corporate Events
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 ...
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...
Gretex Corporate Services Raises Capital via Preferential Allotment of Warrants to Promoter Group
Aug 10, 2026
Gretex Corporate Services Ltd has approved the first tranche allotment of 555,167 warrants on a preferential basis to a promoter group entity at an issue price of ₹358 per warrant with a face value of ₹10. This capital-raising move, ca...
Gretex Corporate Services Secures Shareholder Nod on All AGM Resolutions
Aug 3, 2026
Gretex Corporate Services Ltd reported that all resolutions proposed at its 18th Annual General Meeting, held on July 31, 2026 in Mumbai, were approved by shareholders with the requisite majority. The company said the combined voting results and s...
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.