NSE: GKWLIMITED
GKW LIMITED
Operates two distinct revenue streams. The Investment and Treasury segment brought in 18.27 crore in FY26, or 56.9% of segment revenue, with an EBIT margin of 101.3%. The Warehousing segment contributed 13.83 crore, or 43.1% of segment revenue, with an EBIT margin of 63.0%. Combined revenue from operations for FY26 stood at 32.09 crore, against total assets of 3,231.65 crore. The company carries no debt. Employee costs account for 9.5% of revenue, other operating expenses make up 89.4%, and depreciation accounts for 11.6% of revenue. Capex was 3.37 crore, or 10.5% of revenue. A stamp duty dispute of Rs. 3,256.15 lakhs is pending before authorities, as flagged in the auditor's Emphasis of Matter. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Investment and Treasury (57%), Warehousing (43%). Asset-heavy holding and warehousing company with investment income driving earnings volatility
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 24 | 20 | 39 | 33 | 32 |
| EBITDA (ex other income) | 18 | 14 | 20 | (10) | 0 |
| margin % | 73.9 | 66.7 | 51.3 | (30.5) | 1.1 |
| Owners' profit | 0 | 9 | 14 | (18) | (2) |
| EPS, as reported (₹) | 22.46 | 14.71 | 23.22 | (30.95) | (3.87) |
| ROE % · ROCE % | — · — | 0.4 · 0.5 | 0.6 · 0.6 | (0.7) · (0.3) | (0.1) · 0.4 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (2) | 2 | (4) | (203) | 21 |
| Capex | (2) | (3) | (9) | (12) | (3) |
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 | 15 | 1 | 7 | 15 | 25 | 10 | (3) | 15 |
| Profit before tax | 9 | (28) | 3 | 17 | 3 | 7 | (6) | 13 |
| Net profit | 7 | (31) | 4 | 14 | (2) | 5 | (6) | 11 |
| EPS (₹) | 11.21 | (52.33) | 6.38 | 23.15 | (2.97) | 8.52 | (9.41) | 18.07 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Warehousing | 18 | 37.8 |
| Investment and Treasury | 29 | 62.2 |
| Total, before eliminations | 47 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,35,496 | 63.7 | 1.01 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 97,598 | 22.8 | 2.65 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 61,858 | 19.4 | 2.21 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,442 | 66.0 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 24,545 | 9.2 | 0.72 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,883 | 12.1 | 1.85 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,440 | 90.6 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 109.6 | 19.9 | 48 of 51 | 6% |
| P/B | 0.3 | 0.6 | 22 of 63 | 65% |
| ROCE | 0.1 | 0.4 | 18 of 28 | 37% |
| ROE | (0.1) | 1.3 | 50 of 65 | 23% |
| Debt / Equity | 0.0 | 0.0 | 1 of 27 | 39% |
| EBITDA margin | 108.5 | 61.6 | 9 of 62 | 87% |
| Revenue growth | 2.2 | 13.6 | 35 of 56 | 38% |
| Profit growth | (21.9) | 10.7 | 42 of 66 | 37% |
| Market cap | 929 | 273 | 24 of 68 | 66% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 10 Oct 2026 · GKW Limited notifies special window for physical share dematerialisation | compliance | minimal | — | — |
| 6 Oct 2026 · GKW Limited files quarterly dematerialization compliance certificate | compliance | minimal | — | — |
| 28 Sept 2026 · GKW Limited: Trading Window Closure from October 1, 2026 | compliance | minimal | — | — |
| 11 Aug 2026 · Newspaper notice on special window for physical share transfer and demat | compliance | minimal | — | — |
| 4 Aug 2026 · GKW Limited 96th AGM voting results - all resolutions passed | compliance | minimal | — | — |
| 4 Aug 2026 · GKW Limited Q1 FY27 profit jumps to Rs 10.78 cr versus year-ago loss | compliance | minimal | — | — |
| 3 Aug 2026 · GKW Limited 96th AGM Proceedings - 2 Resolutions Tabled | board shareholder meetings | low | — | — |
| 3 Aug 2026 · GKW Limited Q1 FY27 results: PAT at Rs 10.78 cr, stamp duty matter flagged | results | high | — | — |
| 11 Jul 2026 · GKW Limited 96th AGM scheduled for 3rd August 2026 via video conferencing | compliance | minimal | — | — |
| 10 Jul 2026 · GKW informs physical shareholders about 96th AGM and KYC update mandate | compliance | minimal | — | — |
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.