Golden Tobacco share price & results

Golden Tobacco Limited· Realty· Consumer Discretionary

Results to: Dec 2021
Ownership as of: Sept 2026

Vadodara-based manufacturer of cigarettes and cigars, established in 1930 and incorporated in 1955.

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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	3.8 ₹ crore	−18.3% YoY	Quarterly, as filed	Quarter to Dec 2021	Revenue from operations as filed.
Operating margin	-10.8 %	−22.2 pts YoY	Operating profit / revenue	Quarter to Dec 2021	For the quarter; a change is in percentage points.
Net profit	-1.6 ₹ crore	—	Quarterly, as filed	Quarter to Dec 2021	Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown.
Return on equity	Unavailable	−16.2 ptsFY Mar 2021 vs FY Mar 2020	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.
Free cash flow margin	Unavailable	−92.2 ptsFY Mar 2021 vs FY Mar 2020	Fiscal year	FY · period unavailable	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	Unavailable	+147.7 ptsFY Mar 2021 vs FY Mar 2020	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Dec 2021

Price

₹21.88 −4.99% · −₹1.15

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −36.6% 1Y

1Y: ₹34.53 on 24 Oct 2025 → ₹21.88. High ₹35.4 (28 Oct 2025), low ₹21.41 (1 Apr 2026).

Previous close: ₹23.03
Market cap: ₹43 Cr
52-week range: ₹21.41 – ₹35.4
One year: −35.74%

Overview

Symbol: NSE:GOLDENTOBC
Sector: Realty
Industry: Consumer Discretionary
Exchange: NSE
Currency: INR

What Golden Tobacco Limited does

Based on the company's own presentations, annual report and earnings calls.

Golden Tobacco Limited manufactures cigarettes and cigars, with its registered office and manufacturing works located at Darjipura, Post-Amaliyara, Vadodara, Gujarat, and additional offices in New Delhi and Mumbai. Its manufacturing operations hold ISO 9001:2015 certification (from TUV NORD) for the manufacture and supply of cigarettes and tobacco products. Alongside the core tobacco manufacturing business, the group comprises four subsidiaries: Golden Realty & Infrastructure Ltd., Golden Investment (Sikkim) Pvt. Ltd., GTC Inc B.V., and Western Express Industries Limited (a fellow subsidiary).

Segments

Cigarettes & Cigars manufacturing

Manufacturing works: 1 (Darjipura, Post-Amaliyara, Vadodara, Gujarat)
Office locations: 3 (Registered office & works – Vadodara; New Delhi; Mumbai)
Subsidiaries: 4 (Golden Realty & Infrastructure Ltd.; Golden Investment (Sikkim) Pvt. Ltd.; GTC Inc B.V.; Western Express Industries Ltd. – fellow subsidiary)
Quality certification: ISO 9001:2015 (Manufacture & Supply of Cigarettes and Tobacco Products, TUV NORD)

Founded 1930Headquarters Vadodara, Gujarat, India Company website

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2016 to Mar 2021).

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: −187% (quarter to dec 2021 against dec 2020).

In ₹ crore. Oldest period first.

Line item	Mar 2020	Jun 2020	Sept 2020	Dec 2020	Mar 2021	Jun 2021	Sept 2021	Dec 2021
Sales	6	0	11	5	26	1	2	4
Expenses	8	3	10	4	13	4	4	4
Operating profit	-1	-3	1	1	13	-3	-2	-0
Operating margin	−24.7%	−1711.1%	6.0%	11.4%	51.1%	−356.7%	−90.4%	−10.8%
Other income	0	0	3	0	-2	1	5	0
Interest	1	1	1	1	1	1	1	1
Depreciation	0	0	0	0	0	0	0	0
Profit before tax	-3	-4	2	-1	10	-4	2	-2
Tax rate	0.8%	0.0%	0.0%	0.0%	0.0%	0.0%	26.3%	0.0%
Net profit	-3	-4	2	-1	10	-4	2	-2
EPS (₹ per share)	-1.49	-2.39	1.18	-0.31	5.85	-2.02	0.98	-0.88

Source: Inve data · income statement, quarterly · to Dec 2021

In ₹ crore. Oldest period first.

Line item	Mar 2020	Mar 2021
Sales	23	42
Expenses	37	30
Operating profit	-14	11
Other income	24	1
Interest	11	4
Depreciation	1	0
Profit before tax	-2	8
Net profit	-2	8

Source: Inve data · income statement, annual · to Mar 2021

In ₹ crore. Oldest period first.

Line item	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Sept 2021
Equity capital	18	18	18	18	18	18
Reserves	-242	-253	-226	-232	-222	-223
Borrowings	47	0	0	2	2	2
Other liabilities	488	502	402	386	351	352
Total liabilities	311	267	194	174	149	149
Fixed assets	18	16	15	8	8	7
Capital work in progress	0	0	0	0	0	0
Investments	12	12	11	2	1	2
Other assets	280	239	167	164	139	140
Total assets	311	267	194	174	149	149

Source: Inve data · balance sheet · to Sept 2021

In ₹ crore. Oldest period first.

Line item	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Cash from operations	18	1	63	25	21	-0
Cash from investing	0	0	8	1	6	0
Cash from financing	-17	-1	-70	-27	-26	0
Net cash flow	0	0	1	-1	1	0
Free cash flow	17	1	64	25	22	0

Source: Inve data · cash flow · to Mar 2021

In days and %. Oldest period first.

Line item	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Debtor days	73	86	43	37	47	3
Inventory days	965	1292	289	965	633	263
Days payable	418	631	300	1085	147	139
Cash conversion cycle	619	747	32	-82	533	126
Working capital days	-3355	-4334	-2056	-1757	-5611	-2974
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2021

Where revenue comes from

The businesses behind the company’s reported revenue.

Reporting basis Reporting period

Historical breakdown. Showing quarter ended 31 Dec 2021; this may not reflect the current business mix.

Realty contributes 53.7% of reported segment revenue.

Quarter ended 31 Dec 2021 · Consolidated

Realty 53.7%

₹2.06 crore
Tobacco Products (net of Goods and Service Tax) 46.3%

₹1.77 crore
Others/Unallocable 0.0%

₹0.00 crore

Reported business segments for quarter ended 31 Dec 2021
Business segment	Revenue · ₹ crore	Share
Realty	2.06	53.7%
Tobacco Products (net of Goods and Service Tax)	1.77	46.3%
Others/Unallocable	0.00	0.0%

Share = segment revenue ÷ total segment revenue, before intersegment adjustments.

How these numbers add up

Total segment revenue: ₹3.83 crore
Intersegment adjustment: ₹0.00 crore
Net segment revenue: ₹3.83 crore

Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.

Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.

How the mix has moved

Realty shrank from 55% to 54% of revenue over the last two years.

GOLDENTOBC revenue by business segment, share of consolidated revenue by quarter
Segment	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Jun 2021	Sep 2021	Dec 2021	YoY growth latest quarter
Realty	55%	53%	23%	3%	61%	1%	70%	54%	—
Tobacco Products (net of Goods and Service Tax)	—	—	—	—	21%	98%	29%	46%	—
Others/Unallocable	<1%	0%	<1%	0%	18%	1%	1%	0%	—

Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.

See how segments are shifting across companies → Segment Shift

Ownership

Who owns it

Public hold 70.07% as of Sept 2026; institutions added 0.00 pts since Jun 2026.

Promoters 0.00 pts 29.77%
Foreign institutions 0.00 pts 0.02%
Domestic institutions 0.00 pts 0.14%
Public −0.02 pts 70.07%

31,024 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who is on the register

Named in the Sep 2026 filing

Every holder of Golden Tobacco Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	22.15%	unchanged
	5.45%	unchanged
	4.57%	unchanged
	4.54%	unchanged
	3.19%	unchanged
	2.84%	unchanged
	2.81%	unchanged
	2.29%	unchanged
	2.26%	unchanged
	2.05%	unchanged
	1.56%	unchanged
	1.55%	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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