Reported Earnings • May 17
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹6.04 (down from ₹57.57 in FY 2025). Revenue: ₹5.38b (down 2.3% from FY 2025). Net income: ₹32.2m (down 90% from FY 2025). Profit margin: 0.6% (down from 5.6% in FY 2025). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 79%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.6% Last year net profit margin: 5.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.6% net profit margin). New Risk • May 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.45b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹9.45b market cap, or US$98.7m). Announcement • May 12
GRP Limited to Report Q4, 2026 Results on May 15, 2026 GRP Limited announced that they will report Q4, 2026 results on May 15, 2026 Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹1.60 (vs ₹8.22 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.60 (down from ₹8.22 in 3Q 2025). Revenue: ₹1.35b (up 1.8% from 3Q 2025). Net income: ₹8.52m (down 81% from 3Q 2025). Profit margin: 0.6% (down from 3.3% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. Announcement • Feb 03
GRP Limited to Report Q3, 2026 Results on Feb 10, 2026 GRP Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹1,860, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 26x in the Auto Components industry in India. Total returns to shareholders of 134% over the past three years. New Risk • Dec 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.98b (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹8.98b market cap, or US$99.4m). New Risk • Nov 21
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Nov 10
GRP Limited to Report Q2, 2026 Results on Nov 13, 2025 GRP Limited announced that they will report Q2, 2026 results on Nov 13, 2025 New Risk • Sep 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (75% net debt to equity). Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Announcement • Jul 22
GRP Limited to Report Q1, 2026 Results on Jul 25, 2025 GRP Limited announced that they will report Q1, 2026 results on Jul 25, 2025 Reported Earnings • Jul 07
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹57.57 (up from ₹42.45 in FY 2024). Revenue: ₹5.50b (up 19% from FY 2024). Net income: ₹307.0m (up 36% from FY 2024). Profit margin: 5.6% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 30
Dividend of ₹14.50 announced Shareholders will receive a dividend of ₹14.50. Ex-date: 18th July 2025 Payment date: 24th August 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 140% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 29
GRP Limited announces Annual dividend, payable on August 24, 2025 GRP Limited announced Annual dividend of INR 14.5000 per share payable on August 24, 2025, ex-date on July 18, 2025 and record date on July 18, 2025. Announcement • Jun 23
GRP Limited, Annual General Meeting, Jul 25, 2025 GRP Limited, Annual General Meeting, Jul 25, 2025, at 12:30 Indian Standard Time. Reported Earnings • May 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹57.57 (up from ₹42.45 in FY 2024). Revenue: ₹5.52b (up 20% from FY 2024). Net income: ₹307.0m (up 36% from FY 2024). Profit margin: 5.6% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 97% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 02
GRP Limited to Report Q4, 2025 Results on May 09, 2025 GRP Limited announced that they will report Q4, 2025 results on May 09, 2025 Buy Or Sell Opportunity • Apr 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₹2,983. The fair value is estimated to be ₹3,851, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 22% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹3,086, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 25x in the Auto Components industry in India. Total returns to shareholders of 742% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,609, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 23x in the Auto Components industry in India. Total returns to shareholders of 651% over the past three years. Reported Earnings • Jan 25
Third quarter 2025 earnings released: EPS: ₹8.22 (vs ₹8.09 in 3Q 2024) Third quarter 2025 results: EPS: ₹8.22 (up from ₹8.09 in 3Q 2024). Revenue: ₹1.33b (up 21% from 3Q 2024). Net income: ₹43.8m (up 1.7% from 3Q 2024). Profit margin: 3.3% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 107% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 16
GRP Limited to Report Q3, 2025 Results on Jan 24, 2025 GRP Limited announced that they will report Q3, 2025 results on Jan 24, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹4.70 (vs ₹8.79 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.70 (down from ₹8.79 in 2Q 2024). Revenue: ₹1.32b (up 15% from 2Q 2024). Net income: ₹25.1m (down 47% from 2Q 2024). Profit margin: 1.9% (down from 4.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 139% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 12
GRP Limited to Report Q2, 2025 Results on Nov 14, 2024 GRP Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹3,539, the stock trades at a trailing P/E ratio of 74.9x. Average trailing P/E is 33x in the Auto Components industry in India. Total returns to shareholders of 1,373% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹3,516, the stock trades at a trailing P/E ratio of 74.3x. Average trailing P/E is 34x in the Auto Components industry in India. Total returns to shareholders of 1,397% over the past three years. Announcement • Aug 06
GRP Limited Approves Dividend for the Financial Year 2023-24 GRP Limited at its AGM held on August 2, 2024, approved to declare a dividend of 37.50 per equity share of face value of 10/- each for the financial year 2023-24. Announcement • Jul 25
GRP Limited to Report Q1, 2025 Results on Aug 02, 2024 GRP Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • Jul 13
Full year 2024 earnings released: EPS: ₹170 (vs ₹105 in FY 2023) Full year 2024 results: EPS: ₹170 (up from ₹105 in FY 2023). Revenue: ₹4.61b (up 2.3% from FY 2023). Net income: ₹226.4m (up 62% from FY 2023). Profit margin: 4.9% (up from 3.1% in FY 2023). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 146% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 13
Dividend increased to ₹37.50 Dividend of ₹37.50 is 121% higher than last year. Ex-date: 26th July 2024 Payment date: 1st September 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 01
GRP Limited, Annual General Meeting, Aug 02, 2024 GRP Limited, Annual General Meeting, Aug 02, 2024, at 12:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹12,869, the stock trades at a trailing P/E ratio of 76x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 1,250% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹10,574, the stock trades at a trailing P/E ratio of 61.9x. Average trailing P/E is 29x in the Auto Components industry in India. Total returns to shareholders of 909% over the past three years. Announcement • May 19
GRP Limited Proposes Dividend for the Financial Year 2023-24 GRP Limited proposed dividend of INR 37.5 per share (375%) (subject to deduction of tax at applicable rates) per fully paid-up equity shares of INR 10 each for the financial year 2023-24, subject To Approve the shareholders at the upcoming Annual General Meeting of the Company. Announcement • May 11
GRP Limited to Report Q4, 2024 Results on May 17, 2024 GRP Limited announced that they will report Q4, 2024 results on May 17, 2024 New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹7,898, the stock trades at a trailing P/E ratio of 76.1x. Average trailing P/E is 30x in the Auto Components industry in India. Total returns to shareholders of 762% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹5,869, the stock trades at a trailing P/E ratio of 56.9x. Average trailing P/E is 31x in the Auto Components industry in India. Total returns to shareholders of 638% over the past three years. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: ₹32.34 (vs ₹29.65 in 3Q 2023) Third quarter 2024 results: EPS: ₹32.34 (up from ₹29.65 in 3Q 2023). Revenue: ₹1.10b (down 3.6% from 3Q 2023). Net income: ₹43.1m (up 9.1% from 3Q 2023). Profit margin: 3.9% (up from 3.5% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 07
GRP Limited to Report Q3, 2024 Results on Feb 14, 2024 GRP Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹4,589, the stock trades at a trailing P/E ratio of 45.3x. Average trailing P/E is 29x in the Auto Components industry in India. Total returns to shareholders of 469% over the past three years. Reported Earnings • Nov 05
Second quarter 2024 earnings released: EPS: ₹35.16 (vs ₹46.16 in 2Q 2023) Second quarter 2024 results: EPS: ₹35.16 (down from ₹46.16 in 2Q 2023). Revenue: ₹1.14b (down 2.2% from 2Q 2023). Net income: ₹46.9m (down 24% from 2Q 2023). Profit margin: 4.1% (down from 5.3% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 71% per year whereas the company’s share price has increased by 68% per year. Announcement • Oct 24
GRP Limited to Report Q2, 2024 Results on Oct 31, 2023 GRP Limited announced that they will report Q2, 2024 results on Oct 31, 2023 Announcement • Jul 29
GRP Limited to Report Q1, 2024 Results on Aug 04, 2023 GRP Limited announced that they will report Q1, 2024 results on Aug 04, 2023 Upcoming Dividend • Jul 21
Upcoming dividend of ₹17.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 03 September 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%). New Risk • Jul 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 85% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Significant insider selling over the past 3 months (₹5.2m sold). Market cap is less than US$100m (₹4.91b market cap, or US$59.8m). Reported Earnings • Jul 15
Full year 2023 earnings released: EPS: ₹105 (vs ₹43.20 in FY 2022) Full year 2023 results: EPS: ₹105 (up from ₹43.20 in FY 2022). Revenue: ₹4.51b (up 16% from FY 2022). Net income: ₹139.5m (up 142% from FY 2022). Profit margin: 3.1% (up from 1.5% in FY 2022). Over the last 3 years on average, earnings per share has increased by 82% per year whereas the company’s share price has increased by 81% per year. Announcement • Jul 14
GRP Limited, Annual General Meeting, Aug 04, 2023 GRP Limited, Annual General Meeting, Aug 04, 2023, at 12:30 Indian Standard Time. Agenda: To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March, 2023 together with the Reports of the Board of Directors and the Auditors thereon; to consider the audited consolidated financial statements of the Company for the financial year ended 31st March, 2023 together with the Report of the Auditors thereon; to declare dividend on equity shares for the financial year 2022-23; to appoint a director in place of Rajendra V. Gandhi, who retires by rotation and being eligible, offers himself for re-appointment; to consider payment of remuneration by way of commission to Rajeev M. Pandia, Independent Director, for the financial year ending 31st March, 2024; to consider ratification of Remuneration payable to M/s. Kishore Bhatia & Associates, Cost Accountants as Cost Auditor for auditing the cost accounting records of the company for the year ending 31st March, 2024; and to consider other matters. New Risk • Jun 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹4.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (₹4.4m sold). Market cap is less than US$100m (₹4.93b market cap, or US$60.1m). Recent Insider Transactions • Jun 19
Insider recently sold ₹465k worth of stock On the 15th of June, Jagdish Desai sold around 124 shares on-market at roughly ₹3,753 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹678k. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Recent Insider Transactions • Jun 02
Insider recently sold ₹350k worth of stock On the 30th of May, Jagdish Desai sold around 100 shares on-market at roughly ₹3,502 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹548k. Insiders have been net sellers, collectively disposing of ₹9.9m more than they bought in the last 12 months. Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹105 (vs ₹43.20 in FY 2022) Full year 2023 results: EPS: ₹105 (up from ₹43.20 in FY 2022). Revenue: ₹4.61b (up 19% from FY 2022). Net income: ₹139.5m (up 142% from FY 2022). Profit margin: 3.0% (up from 1.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year whereas the company’s share price has increased by 81% per year. Announcement • May 29
GRP Limited Recommends Dividend for the Financial Year 2022-23 GRP Limited at its meeting held on May 27, 2023 recommended a dividend of INR 17/- per share (170%) (subject to deduction of tax at applicable rates) per fully paid up equity shares of INR 10/- each for the financial year 2022-23, subject To Approve the shareholders at the upcoming Annual General Meeting of the company. Announcement • May 20
GRP Limited to Report Q4, 2023 Results on May 27, 2023 GRP Limited announced that they will report Q4, 2023 results on May 27, 2023 Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹3,127, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 24x in the Auto Components industry in India. Total returns to shareholders of 372% over the past three years. Recent Insider Transactions • Mar 28
Insider recently sold ₹131k worth of stock On the 23rd of March, Jagdish Desai sold around 46.0 shares on-market at roughly ₹2,843 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹611k. Insiders have been net sellers, collectively disposing of ₹9.8m more than they bought in the last 12 months. Recent Insider Transactions • Mar 16
Insider recently sold ₹548k worth of stock On the 13th of March, Jagdish Desai sold around 200 shares on-market at roughly ₹2,739 per share. This transaction amounted to 5.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹1.3m. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Recent Insider Transactions • Feb 20
Insider recently sold ₹487k worth of stock On the 16th of February, Varsha Shah sold around 152 shares on-market at roughly ₹3,207 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹1.3m. Insiders have been net sellers, collectively disposing of ₹9.9m more than they bought in the last 12 months. Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: ₹29.65 (vs ₹5.93 in 3Q 2022) Third quarter 2023 results: EPS: ₹29.65 (up from ₹5.93 in 3Q 2022). Revenue: ₹1.14b (up 22% from 3Q 2022). Net income: ₹39.5m (up 400% from 3Q 2022). Profit margin: 3.5% (up from 0.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹3,220, the stock trades at a trailing P/E ratio of 41.6x. Average trailing P/E is 22x in the Auto Components industry in India. Total returns to shareholders of 287% over the past three years. Announcement • Feb 02
GRP Limited to Report Q3, 2023 Results on Feb 09, 2023 GRP Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Recent Insider Transactions • Dec 07
Insider recently sold ₹484k worth of stock On the 1st of December, Jagdish Desai sold around 250 shares on-market at roughly ₹1,934 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹7.0m more than they bought in the last 12 months. Recent Insider Transactions • Nov 23
Insider recently sold ₹277k worth of stock On the 18th of November, Jagdish Desai sold around 150 shares on-market at roughly ₹1,849 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹908k. Insiders have been net sellers, collectively disposing of ₹6.2m more than they bought in the last 12 months. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: ₹46.16 (vs ₹25.26 in 2Q 2022) Second quarter 2023 results: EPS: ₹46.16 (up from ₹25.26 in 2Q 2022). Revenue: ₹1.23b (up 23% from 2Q 2022). Net income: ₹61.5m (up 83% from 2Q 2022). Profit margin: 5.0% (up from 3.3% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 02
Joint MD & Executive Director recently bought ₹1.8m worth of stock On the 28th of September, Harsh Gandhi bought around 1k shares on-market at roughly ₹1,820 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Harsh's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 31
Insider recently sold ₹181k worth of stock On the 26th of August, Jagdish Desai sold around 100 shares on-market at roughly ₹1,807 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹329k. Insiders have been net sellers, collectively disposing of ₹5.9m more than they bought in the last 12 months. Upcoming Dividend • Aug 04
Upcoming dividend of ₹9.00 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 21 September 2022. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.7%). In line with average of industry peers (0.6%). Reported Earnings • Jul 26
Full year 2022 earnings released: EPS: ₹43.20 (vs ₹12.52 in FY 2021) Full year 2022 results: EPS: ₹43.20 (up from ₹12.52 in FY 2021). Revenue: ₹3.88b (up 39% from FY 2021). Net income: ₹57.6m (up 245% from FY 2021). Profit margin: 1.5% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,667, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 24x in the Auto Components industry in India. Total returns to shareholders of 83% over the past three years. Recent Insider Transactions • May 29
Insider recently sold ₹331k worth of stock On the 26th of May, Jagdish Desai sold around 250 shares on-market at roughly ₹1,323 per share. In the last 3 months, they made an even bigger sale worth ₹699k. Insiders have been net sellers, collectively disposing of ₹5.9m more than they bought in the last 12 months. Reported Earnings • May 18
Full year 2022 earnings released: EPS: ₹43.20 (vs ₹12.52 in FY 2021) Full year 2022 results: EPS: ₹43.20 (up from ₹12.52 in FY 2021). Revenue: ₹3.90b (up 39% from FY 2021). Net income: ₹57.6m (up 245% from FY 2021). Profit margin: 1.5% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Non-Executive Independent Director Saurabh Shah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Recent Insider Transactions • Mar 18
Insider recently sold ₹97k worth of stock On the 15th of March, Jagdish Desai sold around 70.0 shares on-market at roughly ₹1,392 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹2.1m. Insiders have been net sellers, collectively disposing of ₹4.0m more than they bought in the last 12 months. Recent Insider Transactions • Feb 04
Insider recently sold ₹2.1m worth of stock On the 27th of January, Devayani Toli sold around 1k shares on-market at roughly ₹1,507 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹3.9m more than they bought in the last 12 months. Reported Earnings • Feb 01
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹5.93 (down from ₹12.31 in 3Q 2021). Revenue: ₹934.6m (up 10% from 3Q 2021). Net income: ₹7.90m (down 52% from 3Q 2021). Profit margin: 0.8% (down from 1.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,268, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 21x in the Auto Components industry in India. Total returns to shareholders of 23% over the past three years.