Ganges Securities Ltd

GANGESSECU

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Market Cap

₹ 143 Cr

P/E

119.50

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Ganges Securities Limited (GSL) is part of the K K Birla Group and functions primarily as an Unregistered Core Investment Company, focusing on investments in securities and immovable properties.

The company's structure and operations were significantly shaped by a Composite Scheme of Arrangement in 2016-17, leading to vested interests in several group companies, including the tea sector through Cinnatolliah Tea Ltd.

GSL does not operate in any specific advanced technology or industrial areas like EVs, 5G, AI, etc., but maintains strategic investments within group subsidiaries, focusing on core investment roles.

The company's corporate actions include issuing equity to shareholders of Upper Ganges Sugar & Industries Ltd, indicating a focus on streamlining group-based investments and asset management.

Ganges Securities Limited continues to amplify its investment pursuits without directly engaging in new product innovation or technology leadership, as per current descriptions.

Sector

Finance

Industry

Finance - Investment / Others

Market Cap

143 Cr

Volatility

High Risk

P/E Ratio

119.5

Industry P/E

30.0

PEG Ratio

2.6

P/B Ratio

0.2

52W High

218.60

52W Low

124.85

Sales CAGR

8.80%

-0.16%

60.06%

10Y

—

Profit CAGR

45.40%

-17.44%

58.09%

10Y

—

ROE

TTM

0.18%

1.27%

1.40%

10Y

1.30%

ROCE

TTM

0.32%

1.59%

1.64%

10Y

1.54%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ESCORP	146.40	162 Cr	12.70	2.30	0.00	18.11	21.55	17.27
BEACON	86.85	157 Cr	28.85	3.50	0.00	11.44	14.60	9.78
ZMILGFIN	68.00	146 Cr	138.04	4.28	0.00	1.86	1.12	1.43
GANGESSECU	143.40	143 Cr	119.50	0.22	0.00	0.18	0.32	0.14
OCCL	140.00	141 Cr	23.08	0.52	0.00	2.27	3.20	2.39
SAFE	245.00	140 Cr	95.33	10.02	0.00	25.01	32.04	23.61
STELLANT	368.20	136 Cr	4.37	4.13	0.00	94.16	125.92	68.68

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	5.89	13	13	2.64	7.72	15	13	2.00	6.36	16
Expenses	6.21	4.49	12	7.03	6.08	6.22	12	7.67	5.47	11
Interest	0.00	0.00	0.01	0.01	0.00	0.00	0.00	0.01	0.00	0.00
Financing Profit	-0.32	8.84	1.31	-4.40	1.64	8.94	1.50	-5.68	0.89	4.95
Financing Margin %	-5.43	66.32	10.10	-166.67	21.24	58.97	11.45	-284.00	13.99	31.91
Other Income	0.17	0.17	0.65	0.29	0.12	0.18	0.12	0.73	0.60	0.04
Depreciation	0.19	0.20	0.20	0.19	0.19	0.19	0.19	0.47	0.16	0.20
Profit Before Tax	-0.34	8.80	1.75	-4.31	1.56	8.92	1.43	-5.41	1.32	4.79
Tax %	-52.94	24.32	23.43	6.96	26.92	19.06	27.97	31.42	21.97	39.25
Net Profit	-0.52	6.67	1.34	-4.01	1.14	7.22	1.03	-3.71	1.03	2.91
EPS in Rs	-0.52	6.67	1.34	-4.01	1.14	7.22	1.03	-3.71	1.03	2.91
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	28	32	32	32	35	34	41	35	38	37
Expenses	21	20	22	23	23	26	30	29	31	31
Interest	0.18	0.82	0.51	0.16	0.08	0.20	0.17	0.01	0.01	0.01
Financing Profit	6.54	11	9.15	9.09	12	8.07	11	5.42	6.59	5.65
Financing Margin %	23.76	34.32	28.50	28.54	34.16	23.56	27.47	15.56	17.36	15.43
Other Income	1.29	1.39	0.32	0.27	0.51	1.75	2.07	1.28	1.14	1.63
Depreciation	1.23	1.25	0.73	0.65	0.70	0.74	0.73	0.78	1.04	1.01
Profit Before Tax	6.60	11	8.74	8.71	12	9.08	13	5.91	6.69	6.26
Tax %	11.34	17.74	13.90	18.01	16.32	11.95	23.06	41.13	9.08	11.02
Net Profit	5.85	9.23	7.52	7.14	9.79	7.99	9.75	3.48	5.06	5.57
EPS in Rs	—	—	7.78	7.13	9.79	7.99	9.74	3.48	5.68	1.26
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.05	10	10	10	10	10	10	10	10	10
Reserves	-0.04	75	84	304	198	328	614	441	535	666
Borrowings	0.00	10	4.75	2.45	2.58	2.47	2.63	0.00	0.00	0.00
Other Liabilities	0.00	6.24	6.30	6.06	6.18	5.94	14	6.13	25	56
Total Liabilities	0.01	101	105	322	217	346	641	457	570	732
Fixed Assets	0.00	11	11	11	11	11	12	12	13	13
CWIP	0.00	0.76	0.50	0.81	0.67	0.68	1.32	2.27	0.83	1.21
Investments	0.00	0.00	0.00	248	135	256	554	383	493	667
Other Assets	0.01	89	93	63	70	78	74	60	63	51
Total Assets	0.01	101	105	322	217	346	641	457	570	732

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.04	-14	3.11	6.08	11	5.11	17	23	-5.22	21
Cash from Investing Activity	0.00	20	6.91	-0.80	-1.02	-2.54	-22	-21	-0.85	-19
Cash from Financing Activity	0.00	10.00	-6.07	-5.06	-0.10	-0.04	-0.07	-2.83	-0.04	-0.04
Net Cash Flow	-0.04	16	3.95	0.22	9.45	2.53	-5.66	-0.99	-6.11	2.16

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.08%	0.03%	0.00%	0.03%
DIIs	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.04%	0.01%
Public	33.35%	33.35%	33.35%	33.35%	33.35%	33.35%	33.35%	33.34%	33.27%	33.32%	33.32%	33.32%
Total Shareholders	5,259	5,116	4,987	5,237	5,178	5,536	5,457	5,395	6,048	6,000	5,853	5,758

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
May 06, 2024	Nk securities research privat...	Bulk	Buy	171.26	0.88 Cr	51,261	0.51
May 06, 2024	Nk securities research privat...	Bulk	Sell	171.59	0.90 Cr	52,285	0.52
Aug 29, 2023	Shekhar family trust revised	Insider - Promoter Group	Acquisition	—	—	2,00,011	1.99
Aug 29, 2023	Shekhar family trust	Insider - Promoter Group	Acquisition	—	—	2,00,011	1.99
Aug 29, 2023	Nandini nopany revised	Insider - Promoter	Disposal	—	—	2,00,011	1.99
Aug 29, 2023	Nandini nopany	Insider - Promoter	Disposal	—	—	2,00,011	1.99

Projection

Actions

Action Type

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Announcements

Last 7 days

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Oscillators

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Bearish

Neutral

Bullish

Overall

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Neutral

Bullish

Moving Averages

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ESCORP	146.40	162 Cr	12.70	2.30	0.00	18.11	21.55	17.27
BEACON	86.85	157 Cr	28.85	3.50	0.00	11.44	14.60	9.78
ZMILGFIN	68.00	146 Cr	138.04	4.28	0.00	1.86	1.12	1.43
GANGESSECU	143.40	143 Cr	119.50	0.22	0.00	0.18	0.32	0.14
OCCL	140.00	141 Cr	23.08	0.52	0.00	2.27	3.20	2.39
SAFE	245.00	140 Cr	95.33	10.02	0.00	25.01	32.04	23.61
STELLANT	368.20	136 Cr	4.37	4.13	0.00	94.16	125.92	68.68

Overview

Detailed Summary

Ganges Securities Limited (GSL) is part of the K K Birla Group and functions primarily as an Unregistered Core Investment Company, focusing on investments in securities and immovable properties.

GSL does not operate in any specific advanced technology or industrial areas like EVs, 5G, AI, etc., but maintains strategic investments within group subsidiaries, focusing on core investment roles.

The company's corporate actions include issuing equity to shareholders of Upper Ganges Sugar & Industries Ltd, indicating a focus on streamlining group-based investments and asset management.

Ganges Securities Limited continues to amplify its investment pursuits without directly engaging in new product innovation or technology leadership, as per current descriptions.

Sector

Finance

Industry

Finance - Investment / Others

Market Cap

143 Cr

Volatility

High Risk

P/E Ratio

119.5

Industry P/E

30.0

PEG Ratio

2.6

P/B Ratio

0.2

52W High

218.60

52W Low

124.85

Sales CAGR

8.80%

-0.16%

60.06%

10Y

—

Profit CAGR

45.40%

-17.44%

58.09%

10Y

—

ROE

TTM

0.18%

1.27%

1.40%

10Y

1.30%

ROCE

TTM

0.32%

1.59%

1.64%

10Y

1.54%