Gayatri Rubbers And ChemicalsShare price, financial results, shareholding and management
- Market cap
- ₹363 cr
- Stock P/E
- 64.9peers 24.0
- Book value
- ₹34.3
- Price to book
- 18.43
- EV / operating profit
- 41.9
- Market cap to sales
- 8.68
- ROCE · FY26
- 37.8%
- ROE · FY26
- 33.1%
- ROE, 3-year average
- 25.1%
- Operating margin · FY26
- 21.1%peers 13.9%
- Sales growth, 3 years
- 35.9%
- Profit growth, 3 years
- 116.6%
- Debt to equity
- 0.35peers 0.46
- Borrowings
- ₹6.9 cr
- Interest cover
- 12.4×
- Cash from business / op. profit
- 2%
- Debtor days
- 82
- Pledged
- 0.00%
- Promoter holding
- 74.03%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 312
- 52-week high / low
- ₹664 / ₹307
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Gayatri Rubbers And Chemicals share price chart
Close on 5 Nov 2026 · -2.48% on the day · Vol 2,000
Daily prices to 5 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 5 Nov 2026
- 1 month
- +10.9%
- 3 months
- +23.5%
- 6 months
- +23.5%
- 1 year
- +62.1%
- Traded a day, 20 days
- ₹0.13 cr
- Taken for delivery
- 92%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +31% | +96% |
| 3 years, a year | +36% | +117% |
| Latest half, H2 FY26 | +34% | +87% |
About Gayatri Rubbers And Chemicals: business, products and customers
Gayatri Rubbers and Chemicals makes rubber seals, strips and gaskets for railway coaches, smart electricity meters, windows and vehicles at two plants in Faridabad. Its shares trade on NSE Emerge.
The company mixes its own rubber compounds from natural and synthetic rubber and carbon black, then extrudes or moulds them into seals, flooring rubber, gaskets and profiles. Indian Railways zones and coach factories are the largest buyers, followed by smart meter makers Genus Power and HPL Power, and then window makers' dealers, bus corporations and the vehicle repair market. It holds railway design approval, a European fire safety rating for coach rubber and domestic content status, which railway buyers require of suppliers.
How it sells shapes its margins. Railway parts are won through tenders that fix the price for two to six months, so a rise in rubber or carbon black costs cannot be passed on until the next tender, while smart meter, window and vehicle customers take price increases straight away. Railway and smart meter parts earn far more per rupee of sales than window and vehicle profiles, so the mix of buyers moves the overall margin.
Read more about the business
Customers take about ninety days to pay and the company keeps ready stock, so growth ties up cash in stock and dues and is funded partly by short term bank borrowing. A second plant, opened in FY26, makes coach flooring rubber and vestibule mountings and was running at about a third of its capacity in May 2026.
The offer document says the company has no listed peers and competes with unlisted makers, organised and unorganised.
From the offer document, the annual report for FY26, the May 2026 investor presentation and earnings call, and the company's press releases of 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 36% a year over three years.
- It earns a high return on the money it uses: ROCE 38% in FY26.
- The promoters own a large part of the company: 74.03%.
To watch
- Revenue and profit in FY27 against the company's targets of about ₹55 cr and ₹9 cr (Annual report FY26, p.64).
- Supply of the ₹4.53 cr railway orders by 28 May 2027 (Announcement, 20 June 2026, p.2).
- Plant 2 moving from trial stage railway approval to regular supply (Annual report FY26, p.64 to 65).
- Entry into bridge pads, promised within six to eight months of May 2026 (Annual report FY26, p.59).
- Its borrowings rose a lot last year: ₹6.9 cr, from ₹2.7 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Gayatri Rubbers And Chemicals revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Gayatri Rubbers And Chemicals half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 11.30 | 10.91 | 10.78 | 13.63 | 13.64 | 18.27 | 17.31 | 24.48 |
| Expenses | 10.52 | 10.04 | 9.76 | 11.92 | 11.57 | 15.65 | 13.32 | 19.67 |
| Operating profit | 0.78 | 0.87 | 1.02 | 1.71 | 2.07 | 2.62 | 3.99 | 4.80 |
| OPM | 6.9% | 8.0% | 9.5% | 12.6% | 15.2% | 14.3% | 23.1% | 19.6% |
| Interest | 0.12 | 0.08 | 0.08 | 0.24 | 0.16 | 0.27 | 0.29 | 0.37 |
| Depreciation | 0.17 | 0.04 | 0.14 | 0.20 | 0.22 | 0.26 | 0.25 | 0.36 |
| Profit before tax | 0.49 | 0.75 | 0.81 | 1.29 | 1.71 | 2.12 | 3.47 | 4.08 |
| Net profit | 0.37 | 0.55 | 0.61 | 0.95 | 1.27 | 1.58 | 2.63 | 2.95 |
Gayatri Rubbers And Chemicals profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 16.65 | 24.41 | 31.91 | 41.79 |
| Expenses | 15.59 | 21.68 | 27.22 | 32.99 |
| Operating profit | 1.06 | 2.73 | 4.68 | 8.80 |
| OPM | 6.4% | 11.2% | 14.7% | 21.1% |
| Other income | 0 | 0.03 | 0.05 | 0.03 |
| Interest | 0.21 | 0.32 | 0.43 | 0.66 |
| Depreciation | 0.14 | 0.35 | 0.48 | 0.62 |
| Profit before tax | 0.71 | 2.09 | 3.83 | 7.55 |
| Tax rate | 22.5% | 25.4% | 25.6% | 26.0% |
| Net profit | 0.55 | 1.56 | 2.85 | 5.59 |
| EPS ₹ | 1.31 | 2.72 | 4.96 | 9.74 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Gayatri Rubbers And Chemicals profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 6.4% | 11.2% | 14.7% | 21.1% |
| Tax rate | 22.5% | 25.4% | 25.6% | 26.0% |
| ROCE | · | 26.4% | 29.8% | 37.8% |
| ROE | · | 19.6% | 22.5% | 33.1% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Gayatri Rubbers And Chemicals debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Gayatri Rubbers And Chemicals balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 4.21 | 5.74 | 5.74 | 5.74 |
| Reserves | 0.41 | 5.53 | 8.38 | 13.96 |
| Net worth | 4.62 | 11.27 | 14.11 | 19.70 |
| Borrowings | 1.86 | 0.52 | 2.68 | 6.92 |
| Other liabilities | 2.51 | 1.07 | 2.76 | 5.26 |
| Total liabilities | 8.99 | 12.86 | 19.55 | 31.88 |
| Fixed assets | 1.08 | 2.31 | 2.48 | 5.47 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 7.91 | 10.55 | 17.07 | 26.41 |
| Receivables | · | · | 6.67 | 9.39 |
| Inventory | · | · | 9.98 | 15.32 |
| Cash | · | · | 0.05 | 0.56 |
| Trade payables | · | · | 2.10 | 3.35 |
Gayatri Rubbers And Chemicals cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 1.55 | -0.31 | -1.47 | 0.16 |
| Cash from investing | -1.09 | -1.47 | -0.65 | -3.61 |
| Cash from financing | 0.23 | 0.20 | 1.73 | 3.59 |
| Net cash flow | 0.69 | -1.58 | -0.39 | 0.14 |
| Capital spending | · | · | 0.65 | 3.61 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 83 | 75 | 76 | 82 |
| Inventory days | 68 | 84 | 151 | 210 |
| Days payable | 56 | 10 | 32 | 46 |
| Cash conversion cycle | 94 | 149 | 196 | 246 |
| Working capital days | 77 | 132 | 139 | 122 |
Gayatri Rubbers And Chemicals peers and competitors
Listed SME companies in the same industryBy sales, Gayatri Rubbers And Chemicals is number 134 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Solve Plastic Products | 8 | 18.1 | 45.6 | 0.4 | 4.5% | 1.09 |
| Polysil Irrigation Systems | 138 | 49.3 | 45.6 | 2.8 | 10.9% | 0.61 |
| Alphalogic Industries | 134 | 24.9 | 45.1 | 5.4 | 12.7% | 0.04 |
| Rajeshwari Cans | 17 | 7.4 | 42.6 | 2.2 | 12.8% | 0.53 |
| Holmarc Opto-Mechatronics | 132 | 32.2 | 42.2 | 4.1 | 15.0% | 0.02 |
| Gayatri Rubbers And Chemicals | 363 | 64.9 | 41.8 | 5.6 | 21.1% | 0.35 |
| Shayona Engineering | 54 | 13.5 | 40.3 | 4 | 18.7% | 0.76 |
| Ameya Precision Engineers | 139 | 24.8 | 40.1 | 5.6 | 19.0% | 0.01 |
| Lead Reclaim And Rubber Products | 95 | 23.2 | 39.8 | 4.1 | 21.4% | 0.52 |
| Rex Sealing and Packing Industries | 36 | 20.1 | 38.2 | 1.8 | 10.4% | 0.15 |
| Swastika Castal | 102 | 31.0 | 35.4 | 3.3 | 15.2% | 0.40 |
| Median of the 10 others | 99 | 24 | 41.3 | 3.7 | 13.9% | 0.46 |
Gayatri Rubbers And Chemicals shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Gayatri Rubbers And Chemicals shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | Sep 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 73.37% | 73.37% | 73.37% | 73.37% | 73.37% | 73.56% | 74.03% | 74.03% |
| Foreign investors (FIIs) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | - | - | - |
| Indian institutions (DIIs) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | - | - | - |
| HNIs (over ₹2 lakh each) | 12.97% | 16.94% | 17.43% | 16.58% | 17.40% | 17.14% | 17.13% | 16.57% |
| Small holders (up to ₹2 lakh) | 12.06% | 8.92% | 8.43% | 9.25% | 8.46% | 8.52% | 8.04% | 8.36% |
| Companies and others | 1.60% | 0.77% | 0.77% | 0.80% | 0.77% | 0.78% | 0.80% | 1.04% |
| Number of shareholders | 169 | 111 | 123 | 188 | 194 | 231 | 224 | 312 |
The named holders are at 30 Sept 2026, beside 31 March 2026, each under the group the pattern files them in.
Gayatri Rubbers And Chemicals study: the business from its own documents
Read from 9 of the company's own documentsGayatri Rubbers And Chemicals so far
From the company's own record
- 7 Feb 2023Listed on NSE Emerge
- 21 Aug 2026An order announced
- 30 Sept 2026Promoters at 74.03%
- 5 Nov 2026Highest close since listing, ₹632.00
Gayatri Rubbers And Chemicals key facts from the filings
Each figure with the document it comes from
- Railway share of sales
- About 55%
- Share of FY26 revenue from railways; smart meter and other industrial parts gave about 20%, and windows and vehicles the rest.Annual report FY26, p.64
- Coach rubber parts covered
- 65 of 75
- Railway rubber product categories the company supplies for a passenger coach.Annual report FY26, p.59
- Smart meter orders
- ₹12 cr a year
- Average yearly orders from Genus Power and HPL Power, for whom it is a single source supplier.Annual report FY26, p.60 and p.64
- Margin by segment
- 35% / 30% / 15 to 20%
- The company's approximate EBITDA margins for railway, smart meter and window and vehicle parts.Annual report FY26, p.60
- Plant 1 use
- 80%
- 160 of 200 tonnes a month in use; the company says it can reach 90% to 95% with more labour, not new machines.Press release, 20 June 2026, p.2; Annual report FY26, p.60
Show 5 more facts
- Plant 2 use
- About 30%
- Built for ₹8 to 10 cr from internal accruals; the company puts its revenue at about ₹60 cr a year at peak use.Investor presentation, May 2026, p.18; Annual report FY26, p.65
- Railway orders
- ₹4.5 cr
- Two Indian Railways orders for rubber with metal parts in June 2026, to be supplied in equal instalments by 28 May 2027.Announcement, 20 June 2026, p.2
- Stock on hand
- ₹15.3 cr
- Inventory at March 2026, up from ₹10.0 cr, partly carbon black stocked during a shortage.Annual report FY26, p.62 to 63
- Short term borrowings
- ₹6.5 cr
- Current borrowings at March 2026 against ₹0.3 cr a year earlier, used for working capital.Annual report FY26, p.62
- New customers
- BEML, KSRTC, ISRO
- A ₹1.2 cr BEML gasket order in March 2026, a ₹1.29 cr KSRTC order in May 2026 and a pilot ISRO order in August 2026.Annual report FY26, p.60; Announcement, 8 May 2026, p.2; Announcement, 21 August 2026, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company has set targets of revenue of about ₹55 cr and profit of about ₹9 cr in FY27, and revenue of ₹70 to 80 cr and profit of about ₹14 cr in FY28. It says it will fill Plant 1 further, take Plant 2 to 70% to 80% use over one and a half to two years as railway approvals move from the trial stage to regular supply, enter bridge pads within six to eight months of May 2026, start solar rubber in FY27 and begin exports in 2027. It plans no major spending on plant but may borrow ₹1.5 to 2.0 cr more for working capital in FY27.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Gayatri Rubbers earns most of its money making approved rubber parts for railway coaches and smart meters, which pay better than its older window and vehicle profiles.
Its weak spots are dependence on railways and two meter makers, fixed tender prices when costs rise, and cash tied up in stock and customer dues.
AverageCan it set its own prices?It passes cost rises to meter, window and vehicle buyers, but railway tender prices stay fixed for months.
StrongHow strong is it against rivals?Railway approvals, a fire safety rating and a good vendor rating keep most small rubber makers out of its main market.
WatchWho are its customers?Indian Railways gives over half of sales and two meter makers most of the rest of the high margin work.
AverageDoes it need a lot of money?Plants are cheap to build, but stock and slow paying customers need a growing amount of working capital.
StrongCan it keep finding new work?It keeps adding railway products and new buyers, though several new lines still need approvals.
AverageDo good and bad years swing a lot?Railway and meter demand follows government programmes, and rubber and carbon black prices can squeeze margins between tenders.
Who runs Gayatri Rubbers And Chemicals?
Promoters, directors and officers; tap a name for the background
SCShilp ChotaiPromoter and Managing Director · holds 18.09%
A BSc in Biotechnology from Bharati Vidyapeeth, Pune, with a diploma in event management. Joined the family calcium carbonate business in 2008 and in 2016 started Elements India, trading rubber profiles bought from Goyal Rubbers; now handles sales, marketing and operations.
Offer document, p.131; Investor presentation, May 2026, p.20MKManoj Kumar AggarwalPromoter and Whole-time Director · holds 37.47%
Has worked in rubber products since 1996, founded Goyal Rubbers in 2008 and was studying for a BA in Political Science from IGNOU at the time of the offer document; heads operations and R&D.
Offer document, p.132; Investor presentation, May 2026, p.20URUtsav Rajendra ChotaiPromoter, Whole-time Director and Chief Financial Officer · holds 17.77%
A BBA in Marketing from Madhvani College and an MBA from Symbiosis per the company's presentation; joined the family calcium carbonate business in 2006 and co-founded Elements India in 2016. Handles finance and distribution.
Offer document, p.131 to 132; Investor presentation, May 2026, p.20SPSameer Pravinbhai RaningaIndependent Director
A BBA from Saurashtra University with over two decades in retail business and experience in real estate and construction. Independent Director since July 2022 and chairman of the audit committee at listing.
Offer document, p.119, p.122 to 123; Annual report FY26, p.8JKJaspreet KaurIndependent Director
A BSc in Biotechnology from Bharati Vidyapeeth College, Pune, who worked at Accretive Health, MetLife GOSC and WNS Global Services between 2011 and 2017.
Offer document, p.119 to 120; Annual report FY26, p.8Gayatri Rubbers And Chemicals latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹24.5 cr (+34%), net profit ₹3 cr (+87%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 74.03%.
- 21 Aug 2026: an order announced.
Gayatri Rubbers And Chemicals announcements
63 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingvoting results of Annual General Meeting held on September 25, 2026PDF ↗
- Shareholders meetingof Srutinizers report of Annual General Meeting held on September 25, 2026PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 25, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Structural Digital DatabaseStructure Digital CertificatePDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Record Datethat Record date for the purpose of Meeting is 19-Sep-2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 25, 2026PDF ↗
- AppointmentOf Mr Akash Goel as Secretarial Auditor of the company for FY 2026-27 w.e.f. August 31, 2026PDF ↗
- Press Releasea press release dated August 21, 2026, titled "Gayatri Rubbers and Chemicals Limited (GRCL) Secures Order for EPDM Rubber from Indian Space Research OrganisatioPDF ↗
- Quarterly Compliance Report on Corporate governance - within 21 days from the enNon-Applicability of filing of Quarterly Compliance Report on Corporate Governance as per Regulation 27(2) of the SEBI (Listing Obligations and Disclosure RequiPDF ↗
Gayatri Rubbers And Chemicals annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Gayatri Rubbers And Chemicals share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Gayatri Rubbers And Chemicals' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (57,38,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Gayatri Rubbers And Chemicals
What does Gayatri Rubbers And Chemicals do?
Gayatri Rubbers and Chemicals makes rubber seals, strips and gaskets for railway coaches, smart electricity meters, windows and vehicles at two plants in Faridabad. Its shares trade on NSE Emerge.
What is the share price of Gayatri Rubbers And Chemicals?
₹632 at the close on 5 Nov 2026, from the exchange's daily figures.
What is the market cap of Gayatri Rubbers And Chemicals?
₹363 cr at the close on 5 Nov 2026, on 57,38,000 shares.
What is the P/E of Gayatri Rubbers And Chemicals?
64.9 times FY26 profit at the close on 5 Nov 2026 (our arithmetic).
What are Gayatri Rubbers And Chemicals' revenue and profit?
Revenue ₹42 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Gayatri Rubbers And Chemicals?
Shilp Chotai, Manoj Kumar Aggarwal, Utsav Rajendra Chotai; promoters held 74.03% at 30 Sept 2026.
What is Gayatri Rubbers And Chemicals' website?
www.gayatrirubberchemicals.com
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Built from 3 press releases, 2 annual reports, 1 offer document, 1 result filing, 1 earnings call transcript, 1 investor presentation, 63 exchange announcements, 8 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.