BSE: 526965
GUJARAT CRAFT INDUSTRIES LTD.
Makes plastic packaging materials, generating FY26 revenue from operations of ₹18,405.68 lakh, down 9.3% from ₹20,288.62 lakh in FY25. Profit after tax fell sharply to ₹96.98 lakh from ₹268.62 lakh in the prior year, dragged by lower revenue and a ₹52.24 lakh exceptional charge tied to new Labour Codes. Raw materials account for 56.1% of revenue, pointing to polymer or resin as the dominant input, while other operating expenses run at 22.6%, employee costs at 5.5%, and depreciation at 3.0% of revenue. The company invested ₹1,305.14 lakh in capex in FY26, well above historical levels, even as earnings weakened. It is a BSE-listed, Ahmedabad-based packaging firm with promoter Ms. Sushma Chhajer holding 39.33% and promoter-cum-MD Mr. Rishab Chhajer holding 14.83%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plastic packaging materials. Small-cap, asset-light-in-margin plastic packaging manufacturer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 171 | 164 | 176 | 203 | 184 |
| EBITDA (ex other income) | 14 | 9 | 11 | 13 | 12 |
| margin % | 8.3 | 5.5 | 6.3 | 6.3 | 6.8 |
| Owners' profit | 8 | 3 | 3 | 3 | 1 |
| EPS, as reported (₹) | 15.51 | 7.10 | 6.19 | 5.50 | 1.98 |
| ROE % · ROCE % | 13.9 · 16.4 | 6.0 · 9.1 | 5.0 · 9.2 | 4.2 · 9.4 | 1.5 · 7.1 |
| Debt / equity (x) | 0.67 | 0.57 | 0.74 | 0.94 | 0.99 |
| Cash from operations | 4 | 9 | 0 | 6 | 9 |
| Capex | (3) | (2) | (8) | (6) | (13) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 48 | 53 | 63 | 48 | 44 | 50 | 42 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 0 | (0) |
| Net profit | 1 | 1 | 1 | 1 | 0 | 1 | 0 | (0) |
| EPS (₹) | 1.20 | 1.05 | 1.57 | 1.67 | 0.87 | 1.08 | 0.11 | (0.08) |
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. % |
|---|---|---|---|---|---|---|---|---|
| EPL LIMITED | 7,122 | 14.6 | 2.48 | 7.8 | 13.7 | 13.6 | 9.0 | 19.1 |
| AGI GREENPAC LIMITED | 4,672 | 12.9 | 1.94 | 7.1 | 14.6 | 16.5 | — | 23.4 |
| UFLEX LIMITED | 4,177 | 6.1 | 0.51 | 6.6 | 3.9 | 2.7 | 11.6 | 17.1 |
| TCPL PACKAGING LIMITED | 3,700 | 32.0 | 5.15 | 14.0 | 13.6 | 13.0 | 15.4 | 17.8 |
| JINDAL POLY FILMS LIMITED | 2,999 | 146.7 | 0.74 | 10.1 | 0.6 | 0.8 | 8.5 | 23.0 |
| POLYPLEX CORPORATION LTD | 2,900 | 18.7 | 0.41 | 8.0 | 0.6 | 0.3 | 7.6 | 14.3 |
| XPRO INDIA LIMITED | 2,359 | 71.4 | 2.95 | 51.2 | 2.4 | 2.8 | 6.2 | 11.4 |
| COSMO FIRST LIMITED | 1,940 | 11.5 | 1.20 | 7.3 | 9.6 | 6.4 | 9.8 | 12.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.9 | 16.6 | 52 of 64 | 19% |
| P/B | 0.7 | 1.3 | 14 of 61 | 78% |
| ROCE | 1.3 | 6.9 | 56 of 68 | 18% |
| ROE | 1.5 | 6.8 | 51 of 61 | 17% |
| Debt / Equity | 1.0 | 0.4 | 51 of 61 | 17% |
| EBITDA margin | 6.9 | 12.1 | 48 of 62 | 23% |
| Revenue growth | (32.8) | 14.0 | 55 of 61 | 10% |
| Profit growth | (104.5) | 23.4 | 54 of 60 | 10% |
| Market cap | 42 | 113 | 49 of 73 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve September quarter unaudited results | results | low | — | — |
| 7 Oct 2026 · Filing of demat confirmation certificate under SEBI Reg 74(5) for Sep 2026 quarter | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closed from Oct 1 for Q2 FY26 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Secretarial Auditor appointed at 42nd AGM for 5-year term | management changes | low | — | — |
| 23 Sept 2026 · 42nd AGM Results: All 4 Resolutions Passed Including Re 0.50 Dividend | board shareholder meetings | low | — | — |
| 23 Sept 2026 · All 4 resolutions passed at 42nd AGM; final dividend of Re 0.50 declared | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 42nd AGM proceedings: Re. 0.50 dividend declared, CMD re-appointed | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 42nd AGM held via VC; final dividend of Re 0.50 per share declared | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Newspaper clippings of 42nd AGM notice and e-voting details filed with BSE | compliance | minimal | — | — |
| 24 Aug 2026 · 42nd AGM notice and Annual Report FY 2025-26 submitted | board shareholder meetings | medium | — | — |
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.