GOKUL
Gokul Refoils and Solvent financials
- Market cap
- ₹423 Cr
- Sector
- Fast Moving Consumer Goods
What Gokul Refoils and Solvent Limited does
Gokul Refoils and Solvent Limited is engaged in the Edible & Non-Edible Oil industry through its wholly-owned subsidiary Gokul Agri International Limited, which operates a production facility at Sidhpur, District Patan, Gujarat that processes seed oils via solvent extraction and refining. The Sidhpur plant processes Kachi Ghani oil, Mustard oil, Groundnut oil, Refined Cottonseed oil, Soybean Refined oil, Palmolein and Castor oil. The group is also engaged in trading of agro commodities, including spices, in domestic and international markets. The parent company itself has no production unit of its own at present and oversees the Edible Oil segment and Pack Division.
Segments
- Edible Oil
- Non-edible / Industrial Oil
- Pack Division
- Agro-commodity trading
- Production facilities
- 1 plant (Sidhpur, District Patan, Gujarat) via subsidiary Gokul Agri International Ltd
- Oil types processed at Sidhpur plant
- 7 (Kachi Ghani, Mustard, Groundnut, Refined Cottonseed, Soybean Refined, Palmolein, Castor)
- Related-party manufacturing facility (Gokul Overseas)
- Kandla Special Economic Zone, Gujarat
- Parent-company production units
- 0 (no production unit at present; operations run through subsidiary)
Quarterly results
Q1 FY27: revenue up 9.7%, net profit up 57.5% 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 | 856 | 1,007 | 860 | 926 | 1,063 +24% | 1,076 +7% | 1,056 +23% | 1,017 +10% |
| EBITDA | 12 | 7 | 9 | 14 | 8 −28% | 11 +51% | 3 −63% | 17 +20% |
| Net profit | 5 | 1 | 7 | 4 | 4 −32% | 5 +805% | 6 −12% | 6 +58% |
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 +5.2% 1Y
1Y: ₹39.96 on 10 Sept 2025 → ₹42.03. High ₹44.98 (25 Aug 2026), low ₹31.72 (13 Feb 2026).
Financials, as filed
Revenue grew 9.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.1k Cr | ₹3.0k Cr | ₹3.5k Cr | ₹4.1k Cr |
| Operating profit | ₹56 Cr | ₹46 Cr | ₹36 Cr | ₹36 Cr |
| Operating margin | 1.8% | 1.5% | 1.0% | 0.9% |
| Interest | ₹27 Cr | ₹33 Cr | ₹33 Cr | ₹33 Cr |
| Depreciation | ₹8 Cr | ₹10 Cr | ₹12 Cr | ₹11 Cr |
| Net profit | ₹24 Cr | ₹2 Cr | ₹15 Cr | ₹18 Cr |
| Net margin | 0.8% | 0.1% | 0.4% | 0.4% |
| Cash from operations | ₹92 Cr | ₹56 Cr | ₹17 Cr | ₹34 Cr |
| Free cash flow | ₹63 Cr | ₹43 Cr | ₹8 Cr | ₹25 Cr |
| ROCE | 8.0% | 8.0% | 8.0% | 8.0% |
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 | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹20 Cr |
| Reserves | ₹258 Cr | ₹284 Cr | ₹308 Cr | ₹310 Cr | ₹332 Cr | ₹344 Cr |
| Borrowings | ₹283 Cr | ₹368 Cr | ₹425 Cr | ₹282 Cr | ₹339 Cr | ₹383 Cr |
| Other liabilities | ₹144 Cr | ₹169 Cr | ₹91 Cr | ₹127 Cr | ₹212 Cr | ₹164 Cr |
| Total liabilities | ₹704 Cr | ₹841 Cr | ₹844 Cr | ₹739 Cr | ₹903 Cr | ₹910 Cr |
| Fixed assets | ₹80 Cr | ₹84 Cr | ₹109 Cr | ₹108 Cr | ₹109 Cr | ₹111 Cr |
| Capital work in progress | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹7 Cr | ₹4 Cr | ₹0 Cr |
| Investments | ₹24 Cr | ₹33 Cr | ₹74 Cr | ₹60 Cr | ₹76 Cr | ₹106 Cr |
| Other assets | ₹598 Cr | ₹721 Cr | ₹659 Cr | ₹564 Cr | ₹714 Cr | ₹693 Cr |
| Total assets | ₹704 Cr | ₹841 Cr | ₹844 Cr | ₹739 Cr | ₹903 Cr | ₹910 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 −1.29 pp while promoters added +0.80 pp. The shareholder count shrank 7% to 21,011.
- Promoters
- 73.6%
- FIIs
- 0.8%
- Government
- 0.0%
- Public
- 25.6%
Since Jun 2025
- Public −1.29 pp
- Promoters +0.80 pp
- FIIs +0.49 pp
How it drifted, 12 quarters
Over this window the public fell from 28.1% to 25.6% — −2.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 71.8%, FIIs 0.1%, Public 28.1%.Dec '23: Promoters 73.0%, FIIs 0.2%, Public 26.8%.Mar '24: Promoters 73.0%, FIIs 0.3%, Public 26.7%.Jun '24: Promoters 74.6%, FIIs 0.2%, Public 25.1%.Sep '24: Promoters 74.6%, FIIs 0.3%, Public 25.1%.Dec '24: Promoters 74.6%, FIIs 0.3%, Government 0.0%, Public 25.1%.Mar '25: Promoters 72.8%, FIIs 0.3%, Government 0.0%, Public 26.9%.Jun '25: Promoters 72.8%, FIIs 0.3%, Government 0.0%, Public 26.9%.Sep '25: Promoters 72.8%, FIIs 0.3%, Government 0.0%, Public 26.9%.Dec '25: Promoters 72.8%, FIIs 0.3%, Government 0.0%, Public 26.9%.Mar '26: Promoters 73.5%, FIIs 0.3%, Government 0.0%, Public 26.2%.Jun '26: Promoters 73.6%, FIIs 0.8%, Government 0.0%, Public 25.6%.
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.
- Bhikhiben Balvantsinh Rajput +0.06 pp 23.01% 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 Gokul Refoils and Solvent Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Balvantsinh Chandansinh Rajput | 24.63% | unchanged |
| Bhikhiben Balvantsinh Rajput | 23.01% | +0.06 pp |
| Profitline Securities Private Limited | 15.92% | unchanged |
| Dharmendrasinh Balvantsinh Rajput | 8.30% | unchanged |
| Ridhikripa Trading Private Limited | 2.01% | unchanged |
| Siddhnath Exports Private Limited | 2.00% | unchanged |
| Devpanth Trading Private Limited | 2.00% | unchanged |
| Jalam Management Private Limited | 1.96% | unchanged |
| Suryam Energy Private Limited | 1.95% | unchanged |
| Br Agritrade Private Limited | 1.93% | unchanged |
| Bhaveshsinh Dilipsinh Rajput | 1.92% | unchanged |
| Arjunsinh Rajput | 1.74% | 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 trapTo justify its price of ₹42, this stock must grow earnings at 44% every year for 7 years. Our analysis caps realistic growth at ~-8%. At that growth it is worth ₹3 — downside of 93%.
- Growth the price implies
- 44.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -8.5% a year
- net profit, FY23–FY26 · EPS -8.4%
- The gap
- 0.5 pp
- -93% downside if it only repeats history
Learn to analyse Gokul Refoils and Solvent Limited
Guides on how to read this kind of business and the numbers that matter.