GAEL

Gujarat Ambuja Exports share price & financials

Price
₹145.9
Market cap
₹7.5k Cr
Sector
Fast Moving Consumer Goods

What Gujarat Ambuja Exports Limited does

Gujarat Ambuja Exports Limited (GAEL) is an agro-processing company, established in 1991, that mills maize (corn) and oilseeds into starch derivatives, edible oils, animal feed and cotton yarn, and is diversifying into fermentation-based specialty chemicals (such as sorbitol) and grain-based ethanol/extra-neutral alcohol. It earns by selling these ingredients to FMCG, pharmaceutical, paints, paper, textile and animal-nutrition customers in India and overseas, with products used by brands such as ITC, Dabur, HUL, Colgate and Mondelez. The Company operates an integrated, backward-and-forward-linked model spanning solvent extraction, oil refining, corn wet milling, cotton spinning and captive renewable power generation. It is also building new capacity in fermentation derivatives and specialty chemicals to move up the value chain from commodity agro-processing.

Segments

  • Maize (Corn) Processing
  • Agro Processing
  • Spinning
  • Renewable Power
Manufacturing facilities
10, across 6 Indian states
Combined maize/corn processing capacity
5,200 TPD across plants in Haveri, Malda, Sitarganj, Himmatnagar and Chalisgaon
Combined oilseed crushing (agro processing) capacity
4,500 TPD across plants in Kadi, Akola, Mandsaur and Pithampur
Combined edible oil refining capacity
1,200 TPD
Spinning capacity
42 TPD (cotton yarn, Himmatnagar)
Countries exported to
120+
Founded 1991Employees 2,561 (FY 2024-25) Company website

Quarterly results

Q1 FY27: revenue up 23.5%, net profit up 172.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,125 1,131 1,267 1,291 1,487 +32%1,484 +31%1,466 +16%1,594 +23%
EBITDA110 123 62 96 76 −31%100 −19%195 +215%232 +142%
Net profit70 72 33 65 38 −46%66 −8%135 +309%177 +172%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +51.1% 1Y

₹100₹120₹140₹160₹180Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹107.92 on 10 Sept 2025 → ₹163.08. High ₹183.36 (20 Aug 2026), low ₹101.74 (14 Oct 2025).

Financials, as filed

Revenue grew 5.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.2%.

Year endingFY23FY24FY25FY26
Revenue₹4.9k Cr₹4.9k Cr₹4.6k Cr₹5.7k Cr
Operating profit₹476 Cr₹442 Cr₹401 Cr₹467 Cr
Operating margin9.7%9.0%8.7%8.2%
Interest₹13 Cr₹18 Cr₹16 Cr₹27 Cr
Depreciation₹95 Cr₹120 Cr₹126 Cr₹137 Cr
Net profit₹330 Cr₹346 Cr₹252 Cr₹304 Cr
Net margin6.7%7.0%5.5%5.3%
Cash from operations₹242 Cr₹213 Cr₹349 Cr₹243 Cr
Free cash flow₹52 Cr₹12 Cr₹100 Cr₹-29 Cr
ROCE18.0%17.0%12.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹23 Cr₹23 Cr₹23 Cr₹46 Cr₹46 Cr₹46 Cr
Reserves₹1.6k Cr₹2.1k Cr₹2.4k Cr₹2.7k Cr₹3.0k Cr₹3.3k Cr
Borrowings₹163 Cr₹278 Cr₹227 Cr₹197 Cr₹288 Cr₹440 Cr
Other liabilities₹345 Cr₹359 Cr₹291 Cr₹337 Cr₹393 Cr₹416 Cr
Total liabilities₹2.2k Cr₹2.8k Cr₹3.0k Cr₹3.3k Cr₹3.8k Cr₹4.2k Cr
Fixed assets₹731 Cr₹771 Cr₹1.0k Cr₹1.0k Cr₹1.2k Cr₹1.2k Cr
Capital work in progress₹106 Cr₹246 Cr₹87 Cr₹153 Cr₹335 Cr₹316 Cr
Investments₹192 Cr₹726 Cr₹665 Cr₹850 Cr₹940 Cr₹1.3k Cr
Other assets₹1.1k Cr₹1.0k Cr₹1.2k Cr₹1.3k Cr₹1.3k Cr₹1.4k Cr
Total assets₹2.2k Cr₹2.8k Cr₹3.0k Cr₹3.3k Cr₹3.8k Cr₹4.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −1.30 pp while FIIs added +0.85 pp. The shareholder count shrank 22% to 1,07,147.

Promoters
63.8%
FIIs
3.0%
DIIs
0.7%
Public
32.5%

Since Jun 2025

  • Public −1.30 pp
  • FIIs +0.85 pp
  • DIIs +0.46 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 63.8%, FIIs 3.9%, DIIs 0.4%, Public 31.8%.Dec '23: Promoters 63.8%, FIIs 4.1%, DIIs 1.2%, Public 30.9%.Mar '24: Promoters 63.8%, FIIs 4.2%, DIIs 2.4%, Public 29.6%.Jun '24: Promoters 63.8%, FIIs 4.2%, DIIs 1.4%, Public 30.5%.Sep '24: Promoters 63.8%, FIIs 2.0%, DIIs 0.6%, Public 33.5%.Dec '24: Promoters 63.8%, FIIs 1.9%, DIIs 0.4%, Public 33.9%.Mar '25: Promoters 63.8%, FIIs 2.0%, DIIs 0.5%, Public 33.6%.Jun '25: Promoters 63.8%, FIIs 2.2%, DIIs 0.2%, Public 33.8%.Sep '25: Promoters 63.8%, FIIs 2.0%, DIIs 0.6%, Public 33.5%.Dec '25: Promoters 63.8%, FIIs 1.6%, DIIs 0.6%, Public 34.0%.Mar '26: Promoters 63.8%, FIIs 2.2%, DIIs 0.8%, Public 33.1%.Jun '26: Promoters 63.8%, FIIs 3.0%, DIIs 0.7%, Public 32.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Gujarat Ambuja Exports Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Manish Vijaykumar Gupta 52.40%unchanged
Investor Education and Protection Fund 6.22%−0.09 pp
Shilpa Manish Gupta 6.18%unchanged
Shreyaan Manish Gupta 3.06%unchanged
Sulochana Vijaykumar Gupta 2.16%unchanged
Massachusetts Institute of Technology - 2 Endowment1.19%newly disclosed
Jupiter Corporate Services Limited 0.04%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth trap

To justify its price of ₹163, this stock must grow earnings at 13% every year for 7 years. Our analysis caps realistic growth at ~-3%. At that growth it is worth ₹71 — downside of 57%.

Growth the price implies
12.8% a year
for 7 years, fading to 4%
It has actually compounded at
-2.7% a year
net profit, FY23–FY26 · EPS -2.6%
The gap
0.2 pp
-57% downside if it only repeats history
Price today ₹163.08 Value at the reference growth ₹70.79

Change the assumptions yourself →

Learn to analyse Gujarat Ambuja Exports Limited

Guides on how to read this kind of business and the numbers that matter.