Gandhi Special Tubes share price & results
- Jun 2026
- Sept 2026
Mumbai-headquartered maker of precision seamless and welded steel tubes and cold-formed coupling nuts for automotive, hydraulic-systems and general-engineering OEMs, with an integrated plant in Halol, Gujarat.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 57.0 | +18.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 47.0 | +4.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 28.0 | +27.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 26.03 | +0.7 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 27.60 | +2.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 11.11 | +9.8 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −8.6% 1Y
1Y: ₹927.65 on 24 Oct 2025 → ₹847.8. High ₹1,003.2 (22 Sept 2026), low ₹697.55 (27 Jan 2026).
- Previous close
- ₹834.15
- Market cap
- ₹941 Cr
- 52-week range
- ₹697.55 – ₹1,003.2
- One year
- −3.85%
- Price to earnings (TTM to Jun 2026)
- 12.42×
- Return on equity (TTM to Jun 2026)
- 26.03%
Overview
- Symbol
- NSE:GANDHITUBE
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Gandhi Special Tubes Limited does
Based on the company's own presentations, annual report and earnings calls.
Gandhi Special Tubes Limited (GSTL) manufactures tailor-made seamless steel tubes, high-pressure tubes, welded tubes and cold-formed coupling nuts, supplied mainly to Original Equipment Manufacturers in the automotive and commercial-vehicle, hydraulic-systems, farm-equipment and general-engineering industries. It operates what it describes as India's only integrated facility for small-diameter cold-drawn seamless steel tubes, located at Halol, Gujarat, and has held OEM relationships spanning over three decades. The company also runs captive renewable-energy assets (rooftop solar and windmills) alongside its manufacturing operations.
Segments
- Seamless steel tubes
- Welded tubes
- Cold-formed coupling nuts
- Manufacturing facility
- 1 integrated plant at Halol, Panchmahal district, Gujarat
- Installed capacity (seamless steel tubes)
- 24 million metres/year
- Employees
- 385 (incl. contractual, FY25)
- Captive renewable power
- 2 MW rooftop solar + windmills of 5.35 MW total capacity (Gujarat)
- Product lines
- Seamless steel tubes, high-pressure tubes, welded tubes, cold-formed coupling nuts
- Years in tube manufacturing
- 40+ years (incorporated 1985)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +27% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 49 | 40 | 43 | 48 | 48 | 48 | 47 | 57 |
| Expenses | 29 | 23 | 27 | 27 | 27 | 26 | 28 | 31 |
| Operating profit | 20 | 17 | 16 | 21 | 21 | 22 | 19 | 27 |
| Operating margin | 41.0% | 42.0% | 37.0% | 43.0% | 44.0% | 46.0% | 41.0% | 47.0% |
| Other income | 4 | 2 | 2 | 8 | 3 | 5 | -5 | 10 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 23 | 18 | 17 | 28 | 23 | 26 | 13 | 36 |
| Tax rate | 25.0% | 15.0% | 31.0% | 23.0% | 24.0% | 25.0% | 30.0% | 23.0% |
| Net profit | 17 | 15 | 12 | 22 | 18 | 20 | 9 | 28 |
| EPS (₹ per share) | 14.20 | 12.48 | 9.83 | 17.78 | 14.56 | 16.21 | 7.70 | 22.99 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 168 | 170 | 173 | 191 |
| Expenses | 107 | 107 | 104 | 108 |
| Operating profit | 61 | 65 | 69 | 83 |
| Other income | 6 | 13 | 11 | 11 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 4 | 4 | 4 | 4 |
| Profit before tax | 63 | 74 | 76 | 90 |
| Net profit | 47 | 55 | 58 | 69 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 141 | 176 | 217 | 260 | 281 | 310 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 |
| Other liabilities | 19 | 20 | 20 | 20 | 25 | 24 |
| Total liabilities | 166 | 202 | 243 | 286 | 312 | 340 |
| Fixed assets | 47 | 44 | 43 | 43 | 42 | 42 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 73 | 85 | 132 | 170 | 188 | 213 |
| Other assets | 47 | 73 | 68 | 73 | 81 | 85 |
| Total assets | 166 | 202 | 243 | 286 | 312 | 340 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 32 | 42 | 45 | 26 | 47 | 55 |
| Cash from investing | -20 | 22 | -7 | -37 | -30 | -34 |
| Cash from financing | -12 | -64 | -12 | -15 | -16 | -18 |
| Net cash flow | 1 | 0 | 26 | -25 | 1 | 3 |
| Free cash flow | 31 | 38 | 44 | 25 | 43 | 53 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 82 | 44 | 39 | 42 | 47 | 39 |
| Inventory days | 204 | 179 | 138 | 233 | 266 | 313 |
| Days payable | 17 | 10 | 9 | 9 | 11 | 10 |
| Cash conversion cycle | 269 | 213 | 168 | 265 | 302 | 341 |
| Working capital days | 122 | 92 | 72 | 115 | 120 | 120 |
| Return on capital employed | 30.0% | 30.0% | 36.0% | 32.0% | 28.0% | 28.0% |
| Dividend payout | 32.0% | 32.0% | 31.0% | 28.0% | 31.0% | 27.0% |
What the price assumes
AttractiveTo justify its price of ₹848, this stock must grow earnings at 7% every year for 7 years. Our analysis caps realistic growth at ~13%. At that growth it is worth ₹1144 — upside of 35%.
- Growth the price implies
- 7.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 13.3% a year
- net profit, FY23–FY26 · EPS 13.0%
- The gap
- -0.1 pp
- 35% downside if it only repeats history
Ownership
Who owns it
Promoters hold 71.70% as of Sept 2026; institutions cut 0.05 pts since Jun 2026.
- Promoters 71.70%
- Foreign institutions 1.21%
- Domestic institutions 0.02%
- Public 27.07%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 1.05% held
- +0.22 pp 25.07% held
- +0.14 pp 2.19% held
- +0.12 pp 12.58% held
- +0.08 pp 8.73% held
- +0.08 pp 1.16% held
The same filing shows 4 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Gandhi Special Tubes Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 25.07% | +0.22 pp | |
| 12.58% | +0.12 pp | |
| 8.73% | +0.08 pp | |
| 5.43% | unchanged | |
| 3.28% | unchanged | |
| 3.12% | unchanged | |
| 2.60% | −1.03 pp | |
| 2.50% | unchanged | |
| 2.40% | unchanged | |
| 2.37% | −0.94 pp | |
| 2.19% | +0.14 pp | |
| 1.66% | 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.
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