Suyog Gurbaxani Funicular Ropeways share price & results
- Mar 2026
- Sept 2026
Operates India's first fully functional funicular ropeway (cable railway) at Saptashrungi Gad Temple, Nashik, under a 30+ year BOT concession, plus onsite tourism services.
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 | 22.6 | −25.2% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 58.5 | +17.4 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | -0.42 | −104.8% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | −17.3 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | 12.71 | +6.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −31.4% 1Y
1Y: ₹118.1 on 24 Oct 2025 → ₹81. High ₹142 (19 Dec 2025), low ₹78 (30 Sept 2026).
- Previous close
- ₹85
- Market cap
- ₹269 Cr
- 52-week range
- ₹78 – ₹142
- One year
- −32.50%
- Price to earnings (FY ending Mar 2026)
- 45.21×
- Return on equity (FY ending Mar 2026)
- 18.24%
Overview
- Symbol
- NSE:SGFRL
- Sector
- Construction
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Suyog Gurbaxani Funicular Ropeways Limited does
Based on the company's own presentations, annual report and earnings calls.
Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) designs, constructs, and operates funicular ropeway (cable railway) systems that move visitors up steep, hilly terrain. Its flagship and currently sole operating asset is the Saptashrungi Gad Temple ropeway at Vani, Nashik, Maharashtra, built and run under a Build-Operate-Transfer (BOT) government concession awarded via a long-term public-private-partnership tender. Revenue is earned mainly from passenger ticketing, with tariffs pre-fixed and escalated per the tender terms, supplemented by ancillary onsite services such as accommodation, a shopping complex, parking, a food court and a kids' zone.
Segments
- Ropeway operations
- Ancillary onsite services
- Operating ropeway projects
- 1 (Saptashrungi Gad Temple, Vani, Nashik, Maharashtra)
- Years of operating experience
- 15 years (since 2010)
- Concession/tender tenure
- 30+ years (BOT/PPP model)
- Onsite ancillary service lines
- 6 (travel, stay, shopping, parking, food court, kids zone)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2025 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −105% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2022 | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6 | 12 | 11 | 52 | 23 | 30 | 27 | 23 |
| Expenses | 3 | 7 | 4 | 44 | 18 | 18 | 16 | 9 |
| Operating profit | 3 | 5 | 7 | 8 | 5 | 12 | 11 | 13 |
| Operating margin | 48.0% | 44.0% | 64.0% | 15.0% | 22.0% | 41.1% | 42.0% | 58.5% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 6 | 1 | 1 | 2 | 5 |
| Depreciation | 3 | 3 | 3 | -3 | 3 | 3 | 3 | 5 |
| Profit before tax | -1 | 1 | 2 | 5 | 0 | 8 | 6 | 4 |
| Tax rate | 0.0% | −34.0% | −13.0% | 6.0% | 90.0% | −10.0% | 7.0% | 111.9% |
| Net profit | -1 | 1 | 3 | 5 | 0 | 9 | 6 | -0 |
| EPS (₹ per share) | -0.36 | 0.49 | 1.12 | 2.04 | 0.01 | 3.48 | 2.24 | -0.17 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 25 | 25 | 25 | 25 | 25 | 25 |
| Reserves | -15 | -15 | -9 | -0 | 6 | 16 |
| Borrowings | 68 | 66 | 87 | 86 | 162 | 170 |
| Other liabilities | 5 | 4 | 13 | 30 | 35 | 53 |
| Total liabilities | 82 | 80 | 116 | 141 | 228 | 264 |
| Fixed assets | 73 | 67 | 60 | 54 | 50 | 195 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 41 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 9 | 13 | 56 | 87 | 177 | 28 |
| Total assets | 82 | 80 | 116 | 141 | 228 | 264 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -6 | 4 | 1 | -14 | 4 | 7 |
| Cash from investing | 0 | 0 | 0 | 0 | -0 | 8 |
| Cash from financing | 6 | -1 | -4 | 14 | -3 | -14 |
| Net cash flow | 0 | 3 | -3 | 0 | 0 | 0 |
| Free cash flow | -6 | 4 | 1 | -14 | 4 | 6 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 67 | 34 | 18 | 3 | 6 | 9 |
| Cash conversion cycle | 67 | 34 | 18 | 3 | 6 | 9 |
| Working capital days | -180 | -215 | 32 | 189 | 331 | -47 |
| Return on capital employed | −7.0% | −3.0% | 6.0% | 17.0% | — | 9.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 63.04% as of Sept 2026.
- Promoters 63.04%
- Public 36.97%
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.
- +0.08 pp 1.11% 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 Suyog Gurbaxani Funicular Ropeways Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 15.04% | unchanged | |
| 14.37% | unchanged | |
| 12.34% | unchanged | |
| 4.02% | unchanged | |
| 3.84% | unchanged | |
| 3.74% | unchanged | |
| 2.35% | unchanged | |
| 2.00% | unchanged | |
| 1.61% | unchanged | |
| 1.32% | unchanged | |
| 1.21% | unchanged | |
| 1.16% | 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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