GFLLIMITED
GFL financials
- Market cap
- ₹644 Cr
- Sector
- Financial Services
What GFL does
GFL Limited (formerly Gujarat Fluorochemicals Limited, renamed after its 2019 chemicals demerger into GFCL) operates as an investment-holding company. It wholly owns subsidiary INOX Infrastructure Limited, holds its multiplex-chain investment in PVR INOX Limited as an associate, and is also engaged in the business of mutual fund distribution. Its 2020 renewable-energy business (wind turbines and wind farming, run through INOX Wind Limited and INOX Renewables Limited) was subsequently demerged out into INOX Wind Energy Limited, leaving the company with its present holding and distribution structure.
Segments
- Investment holding
- Mutual fund distribution
- Employees
- 4
- Wholly-owned subsidiaries
- 1 (INOX Infrastructure Limited)
- Associate investee
- PVR INOX Limited (multiplex chain)
Quarterly results
Q1 FY27: revenue up 12.0%, net profit up 191.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 +8% | 1 +16% | 1 +6% | 1 +12% |
| EBITDA | -3 | 0 | -21 | -10 | 1 +119% | 1 +26% | 0 +101% | 0 +103% |
| Net profit | -35 | 5 | -18 | -8 | 15 +141% | 13 +184% | 26 +240% | 7 +191% |
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 −4.8% 1Y
1Y: ₹61.2 on 10 Sept 2025 → ₹58.27. High ₹77.13 (21 Oct 2025), low ₹37.54 (30 Mar 2026).
Financials, as filed
Revenue fell 0.3% a year over 3 years, FY23 to FY26. Operating margin widened to -225.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹4 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr |
| Operating profit | ₹-55 Cr | ₹-36 Cr | ₹-54 Cr | ₹-8 Cr |
| Operating margin | -1476.3% | -1133.1% | -1614.8% | -225.3% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹2.2k Cr | ₹-8 Cr | ₹-76 Cr | ₹45 Cr |
| Net margin | 60249.6% | -236.6% | -2276.5% | 1223.6% |
| Cash from operations | ₹402 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Free cash flow | ₹402 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| ROCE | -1.0% | 0.0% | -2.0% | 2.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹362 Cr | ₹342 Cr | ₹2.6k Cr | ₹2.6k Cr | ₹2.5k Cr | ₹2.6k Cr |
| Borrowings | ₹2.9k Cr | ₹2.9k Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹655 Cr | ₹733 Cr | ₹139 Cr | ₹138 Cr | ₹166 Cr | ₹172 Cr |
| Total liabilities | ₹3.9k Cr | ₹4.0k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k Cr |
| Fixed assets | ₹3.1k Cr | ₹3.1k Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Capital work in progress | ₹57 Cr | ₹26 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹22 Cr | ₹167 Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k Cr |
| Other assets | ₹721 Cr | ₹755 Cr | ₹34 Cr | ₹34 Cr | ₹33 Cr | ₹33 Cr |
| Total assets | ₹3.9k Cr | ₹4.0k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k Cr | ₹2.7k 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, DIIs trimmed −1.53 pp while the public added +1.53 pp. The shareholder count shrank 2% to 28,941.
- Promoters
- 68.7%
- FIIs
- 0.2%
- Public
- 31.1%
Since Jun 2025
- DIIs −1.53 pp
- Public +1.53 pp
- FIIs −0.01 pp
How it drifted, 12 quarters
Over this window the public went from 28.8% to 31.1% — +2.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 68.7%, FIIs 0.4%, DIIs 2.0%, Public 28.8%.Dec '23: Promoters 68.7%, FIIs 0.4%, DIIs 2.1%, Public 28.8%.Mar '24: Promoters 68.7%, FIIs 0.5%, DIIs 2.0%, Public 28.8%.Jun '24: Promoters 68.7%, FIIs 0.2%, DIIs 2.0%, Public 29.0%.Sep '24: Promoters 68.7%, FIIs 0.3%, DIIs 2.0%, Public 29.0%.Dec '24: Promoters 68.7%, FIIs 0.2%, DIIs 2.0%, Public 29.1%.Mar '25: Promoters 68.7%, FIIs 0.3%, DIIs 1.8%, Public 29.2%.Jun '25: Promoters 68.7%, FIIs 0.2%, DIIs 1.5%, Public 29.5%.Sep '25: Promoters 68.7%, FIIs 0.2%, DIIs 1.4%, Public 29.6%.Dec '25: Promoters 68.7%, FIIs 0.2%, DIIs 0.4%, Public 30.6%.Mar '26: Promoters 68.7%, FIIs 0.2%, DIIs 0.1%, Public 31.1%.Jun '26: Promoters 68.7%, FIIs 0.2%, Public 31.1%.
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.
- Blue Daimond Properties Pvt Ltd newly disclosed 1.97% held
The same filing shows 0 holders 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 GFL above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Pavan Kumar Jain | 42.16% | unchanged |
| Siddharth Jain | 13.50% | unchanged |
| Nayantara Jain | 8.52% | unchanged |
| Meenu Bhanshali | 5.00% | unchanged |
| INOX Chemicals LLP | 2.69% | unchanged |
| Blue Daimond Properties Pvt Ltd | 1.97% | newly disclosed |
| Siddho Mal Trading LLP | 1.84% | unchanged |
| Ishita Jain | 0.02% | 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.
Learn to analyse GFL
Guides on how to read this kind of business and the numbers that matter.