GFL Ltd Large Corporate filing shows ₹0 borrowings (FY26)

What the disclosure is about

GFL Limited has made an “Initial Disclosure” under the SEBI framework for entities identified as Large Corporates. The filing is presented in the standard Annexure A format and specifies the stock exchange where any fine would be payable if mandatory debt-market borrowings fall short. In the same disclosure, GFL confirms it meets the applicability criteria of the SEBI circular dated November 26, 2018.

The document is notable because it states the company’s outstanding borrowing as nil. That matters because the Large Corporate framework is designed to encourage eligible issuers to raise a part of their long-term borrowings through listed debt securities, and the disclosure formally captures the company’s position at the start of a financial year.

GFL’s stated business profile and group exposure

The provided company description positions GFL Limited as a holding company with significant investments in INOX Leisure Limited and INOX Infrastructure Limited. It is also described as a core investment company and a holding company of its wholly owned subsidiary, INOX Infrastructure Limited.

Alongside investments, GFL is stated to be engaged in distribution of mutual funds. The text also notes the company is registered as a sub-broker and is involved in distribution of investment products.

Key points from the SEBI “Large Corporate” Annexure A

In the Annexure A format shown in the input text, the company name is listed as “GFL Ltd” and the CIN is given. The filing also records “Outstanding borrowing of company as on 31st March / 31st December, as applicable (in Rs cr)” as 0.00. The “Highest Credit Rating during the previous FY” is mentioned as NA, and the credit rating agency field is marked “Not Applicable”.

The disclosure names BSE as the stock exchange where the fine would be paid in case of shortfall under the framework. The note in the disclosure reiterates that, beginning FY 2022, a fine of 0.2% of the shortfall would be levied at the end of a two-year block period, as per the cited SEBI circular.

Stock snapshot and valuation metrics mentioned

The input contains multiple market snapshots for GFL Ltd across different points, including a quote showing “GFLLIMITED” at ₹45.80 (up 0.88%) on July 10, 2026 at 05:03 PM. It also lists “Market Cap (Cr): 503.11” alongside an average traded price of ₹45.73.

Separately, the text states: “The current price of GFL Ltd is ₹55.41” and “market capitalization ... ₹608.68.” Another block lists: “Market Cap ₹670 Cr.” and “Current Price ₹61.0” with “High / Low ₹105 / 47.2,” plus “Book Value ₹230,” “Dividend Yield 0.00%,” “ROCE -1.89%,” and “ROE -2.96%.” In addition, “PE is 11 and PB is 0.194” is explicitly mentioned.

Because these figures are presented without a single timestamp for all fields, they should be read as snapshots captured at different times or from different pages in the same information set.

Ownership structure highlighted in the data

The shareholding split included in the text shows a promoter holding of 68.72% and public holding of 31.06%. It also shows participation from FIIs and mutual funds, but at relatively low levels: FII at 0.17% and mutual funds at 0.06%. “Other Institutions” is shown as 0.0%.

This ownership snapshot indicates the stock is predominantly promoter-held, with limited institutional holding indicated in the provided breakdown.

Corporate actions and dividend references

The corporate actions section in the input mentions an ex-date of 11-Sep-2019 with type “D” and description “3.50/share@350.00%.” It also states that no bonus and no rights issue have been declared by GFLLIMITED.

For splits, the text lists a record date of 08-Feb-2008 and split date 01-Feb-2008, with face value shown as “2.00/1.00.” Separately, another snapshot lists face value as ₹1.00.

The text also states: “For the 2025–26 financial year, GFL Ltd declared a final dividend of 0.00% per share.”

Company history and registered office details

The background section says the company was incorporated in 1987, and references setting up “India’s largest refrigerant plant in Ranjitnagar, Gujarat.” It further states the company attained its present name “GFL Limited” from “Gujarat Fluorochemicals Limited” with effect from 17 July 2019.

The registered office address is provided as: Survey No 16/3 26 & 27, Ranjitnagar Ghoghamba Taluka, Panchmahal, Gujarat, 389380, with a fax number listed. Another address block shows a registered office at “7th Floor, Ceejay House, Dr. Annie Besant Road, Worli, Mumbai - 400 018,” along with contact details and the website (www.gfllimited.co.in).

Compliance trail: certificates and board disclosures

The text includes a compliance reference: “Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018” dated Oct 07, 2025, mentioning RTA MUFG Intime India Private Limited.

It also includes disclosures to BSE and NSE about newspaper publication for unaudited financial results for the quarter and half year ended September 30, 2024 (published in Financial Express and Loksatta on November 13, 2024). Another outcome note states that, at a board meeting on November 11, 2025, the Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with a limited review report.

Key facts table

Market impact and why the filing matters

The most direct market-related takeaway from the Large Corporate annexure is the declared borrowing level of ₹0.00 crore in the specified format. That aligns with the separate snapshot commentary stating the company is “almost debt free.” For investors tracking balance-sheet risk and compliance status, this document serves as a formal confirmation in a SEBI-prescribed template.

At the same time, the stock and market cap figures in the input vary across different snapshots (₹503.11 crore, ₹608.68 crore, and ₹670 crore), and the traded price is shown at different levels (₹45.80, ₹55.41, and ₹61.0). Readers should treat these as time-specific observations rather than a single point-in-time quote.

Conclusion

GFL Ltd’s Large Corporate disclosure to BSE records nil outstanding borrowings and identifies BSE as the exchange for any framework-related fine, while the broader dataset reiterates its holding-company profile, INOX exposure, and mutual fund distribution activity. The company’s recent compliance trail also includes SEBI DP certificate filings and board outcomes for unaudited results. Any further updates on the Large Corporate framework would typically come through subsequent annual disclosures and exchange filings.