New Risk • Mar 02
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 7.4% 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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (₹3.62b market cap, or US$39.6m). Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹39.56, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 20x in the Food industry in India. Total returns to shareholders of 21% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹0.53 (vs ₹0.059 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.53 (up from ₹0.059 in 3Q 2025). Revenue: ₹10.8b (up 7.5% from 3Q 2025). Net income: ₹52.5m (up ₹46.7m from 3Q 2025). Profit margin: 0.5% (up from 0.1% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Feb 05
Gokul Refoils & Solvent Limited to Report Q3, 2026 Results on Feb 13, 2026 Gokul Refoils & Solvent Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Announcement • Nov 07
Gokul Refoils & Solvent Limited to Report Q2, 2026 Results on Nov 13, 2025 Gokul Refoils & Solvent Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Announcement • Aug 09
Gokul Refoils & Solvent Limited to Report Q1, 2026 Results on Aug 14, 2025 Gokul Refoils & Solvent Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • Jul 27
Full year 2025 earnings released: EPS: ₹1.50 (vs ₹0.18 in FY 2024) Full year 2025 results: EPS: ₹1.50 (up from ₹0.18 in FY 2024). Revenue: ₹35.1b (up 16% from FY 2024). Net income: ₹148.1m (up ₹130.0m from FY 2024). Profit margin: 0.4% (up from 0.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jul 25
Gokul Refoils & Solvent Limited, Annual General Meeting, Aug 21, 2025 Gokul Refoils & Solvent Limited, Annual General Meeting, Aug 21, 2025, at 10:30 Indian Standard Time. Location: gokul highway food mall, gujarat state highway 41, near sujanpur patia, siddhpur, gujarat - 384151, siddhpur India Reported Earnings • May 30
Full year 2025 earnings released: EPS: ₹1.50 (vs ₹0.18 in FY 2024) Full year 2025 results: EPS: ₹1.50 (up from ₹0.18 in FY 2024). Revenue: ₹35.4b (up 17% from FY 2024). Net income: ₹148.1m (up ₹130.0m from FY 2024). Profit margin: 0.4% (up from 0.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • May 21
Gokul Refoils & Solvent Limited to Report Q4, 2025 Results on May 28, 2025 Gokul Refoils & Solvent Limited announced that they will report Q4, 2025 results on May 28, 2025 Reported Earnings • Feb 19
Third quarter 2025 earnings released: EPS: ₹0.059 (vs ₹0.20 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.059 (down from ₹0.20 in 3Q 2024). Revenue: ₹10.1b (up 25% from 3Q 2024). Net income: ₹5.80m (down 71% from 3Q 2024). Profit margin: 0.1% (down from 0.3% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Feb 14
Gokul Refoils & Solvent Limited Announces Appointment of Nikhilkumar Vadera as Company Secretary and Compliance Officer The board of directors of Gokul Refoils & Solvent Limited at their meeting held February 13, 2025 approved the appointment of Mr. Nikhilkumar Vadera as Company Secretary and Compliance Officer, effective February 13, 2025. Mr. Nikhilkumar Vadera is an Associate Member of the Institute of Company Secretaries of India (ICSI) (Membership No. ACS 49435). He has over 9 years of post-qualification experience in Secretarial and Compliance functions. Announcement • Feb 06
Gokul Refoils & Solvent Limited to Report Q3, 2025 Results on Feb 13, 2025 Gokul Refoils & Solvent Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Announcement • Dec 05
Gokul Refoils & Solvent Limited Announces the Resignation of Abhinav Maihur as Company Secretary (Key Managerial Personnel) and Compliance Officer Gokul Refoils & Solvent Limited announced that Mr. Abhinav Maihur, Company Secretary (Key Managerial Personnel) and Compliance Officer of the Company, has submitted his resignation due to personal reasons, effective from December 05, 2024. Reported Earnings • Nov 19
Second quarter 2025 earnings released: EPS: ₹0.52 (vs ₹0.47 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.52 (up from ₹0.47 loss in 2Q 2024). Revenue: ₹8.61b (down 7.1% from 2Q 2024). Net income: ₹51.4m (up ₹98.4m from 2Q 2024). Profit margin: 0.6% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 11
Now 22% undervalued Over the last 90 days, the stock has risen 44% to ₹63.06. The fair value is estimated to be ₹80.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 50%. Announcement • Nov 08
Gokul Refoils & Solvent Limited to Report Q2, 2025 Results on Nov 14, 2024 Gokul Refoils & Solvent Limited announced that they will report Q2, 2025 results on Nov 14, 2024 New Risk • Nov 07
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 7.8% 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 Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 7.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.05% net profit margin). Market cap is less than US$100m (₹6.58b market cap, or US$78.1m). Announcement • Sep 11
Gokul Refoils & Solvent Limited Announces Cessation of Prof. Dr. Dipooba Devada as Independent Director Gokul Refoils & Solvent Limited announced that the second and final term of 5 years of Prof. Dr. Dipooba Devada (DIN: 018449583) as an Independent Director of the Company, has come to an end on September 11, 2024 and consequently, ceased to be the Independent Director of the Company with effect from September 11, 2024. Announcement • Sep 05
Gokul Refoils & Solvent Limited, Annual General Meeting, Sep 27, 2024 Gokul Refoils & Solvent Limited, Annual General Meeting, Sep 27, 2024, at 10:30 Indian Standard Time. Location: gokul highway food mall, gujarat state highway 41, near sujanpur patia, siddhpur, gujarat - 384151, siddhpur India Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: ₹0.25 (vs ₹0.26 in 1Q 2024) First quarter 2025 results: EPS: ₹0.25 (down from ₹0.26 in 1Q 2024). Revenue: ₹7.88b (up 34% from 1Q 2024). Net income: ₹24.4m (down 3.3% from 1Q 2024). Profit margin: 0.3% (down from 0.4% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jul 24
Gokul Refoils & Solvent Limited to Report Q1, 2025 Results on Jul 30, 2024 Gokul Refoils & Solvent Limited announced that they will report Q1, 2025 results on Jul 30, 2024 Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹0.18 (vs ₹2.44 in FY 2023) Full year 2024 results: EPS: ₹0.18 (down from ₹2.44 in FY 2023). Revenue: ₹30.4b (down 3.1% from FY 2023). Net income: ₹18.1m (down 93% from FY 2023). Profit margin: 0.1% (down from 0.8% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 23
Gokul Refoils & Solvent Limited to Report Q4, 2024 Results on May 28, 2024 Gokul Refoils & Solvent Limited announced that they will report Q4, 2024 results on May 28, 2024 Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹46.80, the stock trades at a trailing P/E ratio of 79.5x. Average trailing P/E is 26x in the Food industry in India. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹41.90, the stock trades at a trailing P/E ratio of 71.2x. Average trailing P/E is 27x in the Food industry in India. Total returns to shareholders of 112% over the past three years. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₹0.20 (vs ₹0.34 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.20 (down from ₹0.34 in 3Q 2023). Revenue: ₹8.10b (up 49% from 3Q 2023). Net income: ₹20.2m (down 41% from 3Q 2023). Profit margin: 0.2% (down from 0.6% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jan 02
Chairman recently bought ₹21m worth of stock On the 28th of December, Balvantsinh Rajput bought around 450k shares on-market at roughly ₹46.50 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Balvantsinh has been a buyer over the last 12 months, purchasing a net total of ₹53m worth in shares. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹53.95, the stock trades at a trailing P/E ratio of 68.8x. Average trailing P/E is 29x in the Food industry in India. Total returns to shareholders of 201% over the past three years. Recent Insider Transactions • Dec 28
Chairman recently bought ₹13m worth of stock On the 22nd of December, Balvantsinh Rajput bought around 300k shares on-market at roughly ₹42.38 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Balvantsinh's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹45.15, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 28x in the Food industry in India. Total returns to shareholders of 227% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: ₹0.47 loss per share (vs ₹0.79 profit in 2Q 2023) Second quarter 2024 results: ₹0.47 loss per share (down from ₹0.79 profit in 2Q 2023). Revenue: ₹9.30b (up 19% from 2Q 2023). Net loss: ₹47.0m (down 160% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Announcement • Nov 04
Gokul Refoils & Solvent Limited to Report Q2, 2024 Results on Nov 10, 2023 Gokul Refoils & Solvent Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹42.15, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 27x in the Food industry in India. Total returns to shareholders of 237% over the past three years. Announcement • Aug 30
Gokul Refoils & Solvent Limited, Annual General Meeting, Sep 22, 2023 Gokul Refoils & Solvent Limited, Annual General Meeting, Sep 22, 2023, at 10:00 Indian Standard Time. Location: Gokul Highway Food Mall, Gujarat State Highway 41, Near Sujanpur Patia, Siddhpur, Gujarat - 384151 Gujarat India Agenda: To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended March 31, 2023, and the reports of the Board of Directors and Auditors thereon; to consider the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2023, and the reports of the Auditors thereon; to appoint a Director in place of Dharmendrasinh Balvantsinh Rajput, who retires by rotation and being eligible, offers himself for re-appointment; and to consider other matters. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹0.26 (vs ₹0.70 in 1Q 2023) First quarter 2024 results: EPS: ₹0.26 (down from ₹0.70 in 1Q 2023). Revenue: ₹5.88b (down 38% from 1Q 2023). Net income: ₹25.3m (down 64% from 1Q 2023). Profit margin: 0.4% (down from 0.7% in 1Q 2023). The decrease in margin was driven by lower revenue. 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 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 03
Gokul Refoils & Solvent Limited to Report Q1, 2024 Results on Aug 08, 2023 Gokul Refoils & Solvent Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 31
Full year 2023 earnings released: EPS: ₹2.44 (vs ₹2.68 in FY 2022) Full year 2023 results: EPS: ₹2.44 (down from ₹2.68 in FY 2022). Revenue: ₹31.5b (up 3.1% from FY 2022). Net income: ₹241.4m (down 9.0% from FY 2022). Profit margin: 0.8% (down from 0.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
Gokul Refoils & Solvent Limited to Report Q4, 2023 Results on May 29, 2023 Gokul Refoils & Solvent Limited announced that they will report Q4, 2023 results on May 29, 2023 Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹25.15, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 19x in the Food industry in India. Total returns to shareholders of 199% over the past three years. Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: ₹0.34 (vs ₹0.61 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.34 (down from ₹0.61 in 3Q 2022). Net income: ₹34.0m (down 44% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 09
Gokul Refoils & Solvent Limited to Report Q3, 2023 Results on Feb 14, 2023 Gokul Refoils & Solvent Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 15% share price gain to ₹39.90, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 25x in the Food industry in India. Total returns to shareholders of 179% over the past three years. Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: ₹0.79 (vs ₹0.73 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.79 (up from ₹0.73 in 2Q 2022). Revenue: ₹7.79b (up 13% from 2Q 2022). Net income: ₹78.0m (up 7.4% from 2Q 2022). Profit margin: 1.0% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 36% per year. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 16% share price gain to ₹36.50, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 20x in the Food industry in India. Total returns to shareholders of 209% over the past three years. Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: ₹0.70 (vs ₹0.59 in 1Q 2022) First quarter 2023 results: EPS: ₹0.70 (up from ₹0.59 in 1Q 2022). Revenue: ₹9.54b (up 31% from 1Q 2022). Net income: ₹69.7m (up 19% from 1Q 2022). Profit margin: 0.7% (down from 0.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 40% per year. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 22% share price gain to ₹37.00, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 23x in the Food industry in India. Total returns to shareholders of 189% over the past three years. Reported Earnings • May 25
Full year 2022 earnings released: EPS: ₹2.68 (vs ₹2.07 in FY 2021) Full year 2022 results: EPS: ₹2.68 (up from ₹2.07 in FY 2021). Revenue: ₹30.7b (up 25% from FY 2021). Net income: ₹265.2m (up 30% from FY 2021). Profit margin: 0.9% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 40% per year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹37.55, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 22x in the Food industry in India. Total returns to shareholders of 279% over the past three years. Buying Opportunity • Apr 28
Now 22% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be ₹55.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 46%. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 17% share price gain to ₹39.65, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 24x in the Food industry in India. Total returns to shareholders of 405% over the past three years. Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.61 (up from ₹0.45 in 3Q 2021). Revenue: ₹7.80b (up 26% from 3Q 2021). Net income: ₹60.5m (up 36% from 3Q 2021). Profit margin: 0.8% (up from 0.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 42% per year. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₹35.25, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 17x in the Food industry in India. Total returns to shareholders of 195% over the past three years. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS ₹0.73 (vs ₹0.39 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹6.94b (up 9.5% from 2Q 2021). Net income: ₹72.6m (up 41% from 2Q 2021). Profit margin: 1.0% (up from 0.8% in 2Q 2021). The increase in margin was driven by higher revenue. Executive Departure • Oct 03
Independent & Non Executive Director Piyushchandra Vyas has left the company On the 20th of September, Piyushchandra Vyas' tenure as Independent & Non Executive Director ended after 14.0 years in the role. We don't have any record of a personal shareholding under Piyushchandra's name. Piyushchandra is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.50 years. Executive Departure • Sep 29
Independent & Non Executive Director Piyushchandra Vyas has left the company On the 20th of September, Piyushchandra Vyas' tenure as Independent & Non Executive Director ended after 14.0 years in the role. We don't have any record of a personal shareholding under Piyushchandra's name. Piyushchandra is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.42 years. Board Change • Sep 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent & Non-Executive Director Parth Shah was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 24
Full year 2021 earnings released: EPS ₹2.07 (vs ₹1.50 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: ₹24.6b (up 14% from FY 2020). Net income: ₹204.6m (up 3.4% from FY 2020). Profit margin: 0.8% (down from 0.9% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improved over the past week After last week's 18% share price gain to ₹23.95, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 18x in the Food industry in India. Total returns to shareholders of 92% over the past three years. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS ₹0.45 (vs ₹0.40 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₹6.23b (up 31% from 3Q 2020). Net income: ₹44.6m (down 16% from 3Q 2020). Profit margin: 0.7% (down from 1.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₹22.00, the stock is trading at a trailing P/E ratio of 11.7x, up from the previous P/E ratio of 10x. This compares to an average P/E of 14x in the Food industry in India. Total returns to shareholders over the past three years are 3.8%. Is New 90 Day High Low • Jan 07
New 90-day high: ₹19.10 The company is up 46% from its price of ₹13.10 on 09 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: ₹16.45 The company is up 4.0% from its price of ₹15.85 on 15 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 17% share price gain to ₹15.85, the stock is trading at a trailing P/E ratio of 8.9x, up from the previous P/E ratio of 7.6x. This compares to an average P/E of 12x in the Food industry in India. Total return to shareholders over the past three years is a loss of 30%. Reported Earnings • Nov 12
Second quarter 2021 earnings released: EPS ₹0.39 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹6.37b (up 8.0% from 2Q 2020). Net income: ₹51.4m (up 67% from 2Q 2020). Profit margin: 0.8% (up from 0.5% in 2Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Sep 23
New 90-day low: ₹14.90 The company is down 14% from its price of ₹17.30 on 25 June 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 4.0% over the same period. 
