Gujarat State Financial share price & results
- Sept 2026
- Sept 2026
Gujarat state-level statutory development finance corporation, now wound down to pure recovery of legacy SME loan dues
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 | 0.00 | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Operating margin | Operating profit / revenue | Quarter to Sept 2026 | Not in the filed figures for the quarter to sept 2026. No older figure is substituted. | ||
| Net profit | -20.0 | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | 3.20 | −0.1 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | Fiscal year | FY ending Mar 2026 | Not in the analysed materials. No older figure is substituted. | ||
| Revenue growth (YoY) | +23.3 pts | Trailing twelve months | TTM to Sept 2026 | Not in the analysed materials. No older figure is substituted. |
Price
- Market cap
- ₹74 Cr
- Return on equity (TTM to Sept 2026)
- 3.20%
Overview
- Symbol
- NSE:GUJSTATFIN
- Sector
- Financial Services
- Exchange
- NSE
- Currency
- INR
What Gujarat State Financial corporation does
Based on the company's own presentations, annual report and earnings calls.
Gujarat State Financial Corporation is a statutory body corporate set up under the State Financial Corporations Act, 1951 to provide medium- and long-term credit to small and medium industrial units in Gujarat and the Union Territory of Dadra and Nagar Haveli. It was forced to stop sanctioning and disbursing fresh loans from FY2001-02 after its finances deteriorated under competition from banks and other lenders. Since then its sole activity has been recovery of outstanding dues from its legacy loan book, run out of a Head Office and three Regional Offices.
Segments
- Recovery of dues
- Offices (Head Office + Regional Offices)
- Head Office (Gandhinagar) + 3 Regional Offices (Gandhinagar, Surat, Rajkot)
- Staff strength
- 12 (8 effective after deputations)
- Staff grade split
- 1 'A' grade officer, 8 'B' grade, 3 'C' grade employees
- Geographic mandate
- State of Gujarat + Union Territory of Dadra and Nagar Haveli
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: +38% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | -1 | 0 | 0 | 0 | 0 | 4 | 0 | 0 |
| Expenses | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| Other income | 5 | 4 | 4 | 4 | 4 | -1 | 4 | 4 |
| Interest | 35 | 35 | 35 | 36 | 36 | 35 | 23 | 24 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -32 | -31 | -31 | -32 | -32 | -32 | -20 | -20 |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net profit | -32 | -31 | -31 | -32 | -32 | -32 | -20 | -20 |
| EPS (₹ per share) | -3.55 | -3.48 | -3.48 | -3.59 | -3.58 | -3.63 | -2.21 | -2.27 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 5 | 0 | 4 |
| Expenses | 4 | 4 | 4 |
| Other income | 16 | 17 | 11 |
| Interest | 138 | 140 | 142 |
| Depreciation | 0 | 0 | 0 |
| Profit before tax | -119 | -125 | -127 |
| Net profit | -119 | -125 | -127 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 94 | 94 | 94 | 94 | 94 | 94 |
| Reserves | -2,907 | -3,029 | -3,154 | -3,218 | -3,282 | -3,322 |
| Borrowings | 662 | 662 | 662 | — | 662 | 662 |
| Other liabilities | 2,342 | 2,479 | 2,619 | 2,689 | 2,760 | 2,807 |
| Total liabilities | 190 | 206 | 220 | 227 | 234 | 241 |
| Fixed assets | 2 | 2 | 2 | 2 | 2 | 2 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 179 | 194 | 206 | 218 | 221 | 232 |
| Other assets | 9 | 10 | 12 | 7 | 11 | 7 |
| Total assets | 190 | 206 | 220 | 227 | 234 | 241 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -1 | -14 | -8 | -12 | -14 | -17 |
| Cash from investing | 1 | 9 | 9 | 11 | 14 | 16 |
| Cash from financing | 0 | 0 | 0 | 0 | 0 | 0 |
| Net cash flow | 0 | -4 | 1 | -1 | 1 | -1 |
| Free cash flow | -1 | -14 | -8 | -12 | -14 | -17 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 83.95% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
- Promoters 83.95%
- Domestic institutions 1.13%
- Government 2.10%
- Public 12.82%
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.
- Bank newly disclosed 0.10% held
- newly disclosed 0.02% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Gujarat State Financial corporation above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 55.09% | unchanged | |
| 28.41% | unchanged | |
| 1.05% | unchanged | |
| 1.05% | unchanged | |
| 1.05% | unchanged | |
| 1.05% | unchanged | |
| Insurer | 0.11% | unchanged |
| Bank | 0.10% | newly disclosed |
| Bank | 0.05% | unchanged |
| Bank | 0.03% | unchanged |
| Bank | 0.03% | unchanged |
| Bank | 0.03% | 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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