BSE: 531399
G.G.AUTOMOTIVE GEARS LTD.
Manufactures automotive gears and related auto components at its facility in Dewas, Madhya Pradesh, supplying the Indian automobile and auto components industry. Revenue in FY26 was Rs 116.37 crore with an EBITDA margin of 18.32%, against Rs 114.48 crore in FY25 and Rs 95.44 crore in FY24. The biggest input cost is raw materials at 45.7% of revenue, followed by other operating expenses at 24.1% and employee costs at 12.7%. The business is asset-heavy: depreciation accounts for 4.3% of revenue and capex ran at 9.3% of revenue. A fire at the manufacturing facility on February 4, 2026 partially disrupted operations; the company received Rs 13 crore in interim insurance proceeds and has placed orders for replacement equipment to restore capacity. The order book stood at around Rs 90 crore in March 2026 (around Rs 105 crore in December 2025). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacture and sale of automotive gears and auto components. Cyclical, small-cap auto-components manufacturer with a single manufacturing plant.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 48 | 77 | 95 | 114 | 116 |
| EBITDA (ex other income) | 6 | 8 | 12 | 17 | 21 |
| margin % | 12.2 | 9.9 | 12.6 | 15.1 | 18.1 |
| Owners' profit | 0 | 2 | 4 | 8 | 11 |
| EPS, as reported (₹) | 0.53 | 2.45 | 5.32 | 8.16 | 11.13 |
| ROE % · ROCE % | 2.0 · 7.8 | 8.7 · 10.3 | 14.0 · 17.5 | 16.5 · 19.6 | 19.1 · 19.7 |
| Debt / equity (x) | 1.56 | 1.52 | 0.86 | 0.53 | 0.50 |
| Cash from operations | 5 | 6 | 12 | 14 | 11 |
| Capex | (3) | 0 | 0 | (18) | (11) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 26 | 29 | 34 | 28 | 33 | 34 | 21 | 16 |
| Profit before tax | 2 | 3 | 4 | 4 | 5 | 5 | 1 | 2 |
| Net profit | 2 | 3 | 2 | 3 | 3 | 3 | 2 | 1 |
| EPS (₹) | 1.84 | 2.75 | 2.27 | 2.60 | 3.33 | 3.46 | 1.73 | 1.07 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.9 | 25.3 | 53 of 119 | 56% |
| P/B | 3.8 | 3.2 | 69 of 117 | 41% |
| ROCE | 17.1 | 12.6 | 37 of 125 | 71% |
| ROE | 19.1 | 11.7 | 24 of 117 | 80% |
| Debt / Equity | 0.5 | 0.3 | 78 of 117 | 34% |
| EBITDA margin | 21.5 | 12.2 | 14 of 118 | 89% |
| Revenue growth | (43.4) | 20.2 | 111 of 113 | 2% |
| Profit growth | (59.1) | 24.4 | 103 of 115 | 11% |
| Market cap | 220 | 1460 | 94 of 126 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 5 Oct 2026 · Compliance certificate for share dematerialization, Q2 FY27 | compliance | minimal | — | — |
| 12 Sept 2026 · 52nd AGM results: Both resolutions passed with over 95% approval | board shareholder meetings | low | — | — |
| 12 Sept 2026 · GG Automotive Gears 52nd AGM: Both resolutions passed with 95.38 percent majority | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · 52nd AGM held on Sept 11, 2026 via video conferencing | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · 52nd AGM held on Sep 11, 2026; two ordinary resolutions considered | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · 52nd AGM held via video conferencing on September 11, 2026 | board shareholder meetings | low | — | — |
| 19 Aug 2026 · 52nd AGM on Sept 11, 2026 via video conferencing; annual report link shared | compliance | minimal | — | — |
| 19 Aug 2026 · Notice of 52nd AGM scheduled for September 11, 2026 via video conferencing | compliance | minimal | — | — |
| 18 Aug 2026 · Book Closure for 52nd AGM from 5 to 11 Sep 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.