Film Production, Distribution & Entertainment · Founded 1986 · www.cineradcommunications.com · BSE 530457 · · ISIN INE959B01017
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Business
GTT Data Solutions Ltd. (formerly GTT Industries Ltd. and Goenka Business & Finance Ltd.) is primarily engaged in trading activities, specifically dealing in textile products, garments, and other related items. Additionally, the company undertakes investment activities, which include trading and investing in shares and securities. While the company's name changed to "GTT Data Solutions Ltd.", its publicly reported primary revenue-generating activities remain centered around trading and investments rather than data solutions or film production. The company generates revenue through the margins on its trading goods and profits from its investment portfolio.
Revenue Mix
The primary revenue streams for GTT Data Solutions Ltd. are:
Trading Activities: Revenue generated from the purchase and sale of textile products, garments, and other goods.
Investment Activities: Income derived from dealing in shares, securities, and potentially other financial instruments.
Due to the company's small scale and available public disclosures, a precise breakdown of the percentage contribution from each segment is generally not readily available.
Industry
The company operates within the fragmented and competitive trading industry in India, particularly in textiles and garments, and also participates in the broader financial markets through its investment activities. In the trading sector, it competes with numerous small and large-scale traders. In investment activities, it operates as a small-scale player with its own proprietary book. Given its relatively small market capitalization and operational scale, GTT Data Solutions Ltd. holds a niche or minor position within these industries, lacking significant market share or distinct leadership.
MOAT
GTT Data Solutions Ltd. does not appear to possess significant durable competitive advantages or a strong moat. Its core businesses of trading textiles and investing in securities are highly commoditized and competitive. There are typically low barriers to entry, and companies in these sectors often struggle to build sustainable differentiation based on brand, proprietary technology, network effects, or significant cost advantages at a small scale. Its name change to "Data Solutions" might indicate future aspirations, but as of current operations, no such advantage is evident.
Growth Drivers
Expansion of Trading Operations: Increased volumes and diversification in its textile and garment trading business, potentially into new geographies or product lines.
Favorable Investment Climate: Positive movements in the equity and debt markets could boost returns from its investment portfolio.
Successful Business Transformation: If the company successfully pivots into the "Data Solutions" space as its name suggests, and develops competitive products or services, this could be a significant growth driver, though this remains an unproven hypothesis based on current operations.
Strategic Alliances/Acquisitions: Potential partnerships or small acquisitions that could expand its trading network or introduce new business lines.
Risks
Commodity Price Volatility: Fluctuations in the prices of textiles and garments can impact trading margins and profitability.
Market Risks: Its investment portfolio is exposed to the inherent volatility and risks of the Indian stock and bond markets.
Intense Competition: The trading sector is highly competitive with thin margins, and investment activities are subject to broader market forces.
Execution Risk: Any attempted pivot into "Data Solutions" carries significant execution risk, requiring substantial capital, expertise, and market acceptance.
Liquidity Risk: As a small-cap company, its stock may experience lower trading volumes, making it less liquid.
Regulatory Changes: Changes in trading policies, import/export regulations, or financial market regulations could impact operations.
Management & Ownership
The company is likely promoter-driven, typical for many small-cap Indian companies. Information regarding specific management quality and detailed ownership structure beyond promoter holdings and public float would require deeper investigation into regulatory filings. Given its history of name changes and diversified, albeit small-scale, operations, management's strategic direction might be seen as opportunistic, seeking new avenues for growth.
Outlook
GTT Data Solutions Ltd. operates in highly competitive and low-margin segments of trading and investments. Its past performance and current operational scale suggest it is a small player with limited leverage. The company's name change to "GTT Data Solutions Ltd." indicates a potential future pivot towards a new business area, which could be a significant upside if successfully executed. However, currently, the revenue generation is predominantly from its traditional trading and investment activities. The outlook is balanced between the inherent challenges of its current commoditized businesses and the speculative potential of a successful strategic transformation into a "data solutions" provider. Investors would need to carefully assess the company's plans and progress in this purported new direction, as well as its ability to generate sustainable profits from its existing operations.
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| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1 | 3 | 4 | 5 | 5 | 25 | 37 | 42 | 29 |
| Other Income | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Income | 2 | 3 | 4 | 5 | 5 | 26 | 37 | 42 | 30 |
| Total Expenditure | 16 | 4 | 3 | 4 | 8 | 27 | 35 | 42 | 32 |
| Operating Profit | -14 | -1 | 0 | 1 | -2 | -1 | 2 | 1 | -2 |
| Interest | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 2 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -14 | -1 | -0 | -1 | -4 | -4 | -1 | -2 | -9 |
| Provision for Tax | -1 | 0 | 0 | -0 | -0 | 0 | 1 | 0 | 0 |
| Profit After Tax | -14 | -1 | -1 | -1 | -4 | -4 | -1 | -2 | -9 |
| Adjustments | 0 | 0 | -0 | -0 | -0 | -0 | 0 | -0 | 1 |
| Profit After Adjustments | -14 | -1 | -1 | -1 | -4 | -4 | -1 | -2 | -9 |
| Adjusted Earnings Per Share | -4.1 | -0.3 | -0.3 | -0.3 | -1.8 | -1 | -0.3 | -0.5 | -2.1 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 14 | 16 | 133 |
| Other Income | 1 | 0 | 1 |
| Total Income | 15 | 17 | 135 |
| Total Expenditure | 16 | 19 | 136 |
| Operating Profit | -1 | -2 | 0 |
| Interest | 0 | 1 | 2 |
| Depreciation | 0 | 3 | 12 |
| Exceptional Income / Expenses | 0 | 0 | 0 |
| Profit Before Tax | -2 | -7 | -16 |
| Provision for Tax | 0 | 0 | 1 |
| Profit After Tax | -2 | -7 | -16 |
| Adjustments | 1 | -0 | 1 |
| Profit After Adjustments | -1 | -7 | -16 |
| Adjusted Earnings Per Share | -0.4 | -3.1 | -3.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 14% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -49% | 199% | 103% | 26% |
| ROE Average | -44% | -28% | -28% | -28% |
| ROCE Average | -20% | -15% | -15% | -15% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 16 | 28 |
| Minority's Interest | 6 | 1 |
| Borrowings | 0 | 0 |
| Other Non-Current Liabilities | 1 | 7 |
| Total Current Liabilities | 2 | 21 |
| Total Liabilities | 25 | 57 |
| Fixed Assets | 13 | 30 |
| Other Non-Current Assets | 2 | 15 |
| Total Current Assets | 10 | 13 |
| Total Assets | 25 | 57 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 |
| Cash Flow from Operating Activities | 0 | -11 |
| Cash Flow from Investing Activities | 0 | -20 |
| Cash Flow from Financing Activities | 0 | 34 |
| Net Cash Inflow / Outflow | 0 | 3 |
| Closing Cash & Cash Equivalent | 0 | 4 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | -0.36 | -3.13 |
| CEPS(Rs) | -0.5 | -1.56 |
| DPS(Rs) | 0 | 0 |
| Book NAV/Share(Rs) | 4.8 | 6.64 |
| Core EBITDA Margin(%) | -16.46 | -16.05 |
| EBIT Margin(%) | -11.16 | -34.17 |
| Pre Tax Margin(%) | -11.55 | -42.18 |
| PAT Margin (%) | -13.93 | -43.78 |
| Cash Profit Margin (%) | -11.92 | -23.2 |
| ROA(%) | -7.59 | -17.15 |
| ROE(%) | -12.17 | -44.41 |
| ROCE(%) | -9.68 | -20.1 |
| Receivable days | 40.99 | 33.65 |
| Inventory Days | 0 | 0 |
| Payable days | 0 | 0 |
| PER(x) | 0 | 0 |
| Price/Book(x) | 6.09 | 13.97 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 6.8 | 14.29 |
| EV/Core EBITDA(x) | -74.32 | -105.17 |
| Net Sales Growth(%) | 0 | 16.21 |
| EBIT Growth(%) | 0 | -255.88 |
| PAT Growth(%) | 0 | -265.16 |
| EPS Growth(%) | 0 | -766.07 |
| Debt/Equity(x) | 0.01 | 0.69 |
| Current Ratio(x) | 4.44 | 0.62 |
| Quick Ratio(x) | 7.34 | 0.64 |
| Interest Cover(x) | -28.31 | -4.27 |
| Total Debt/Mcap(x) | 0 | 0.03 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.39 | 70.57 | 70.57 | 70.57 | 70.57 | 67.85 | 62.05 | 62.24 | 62.24 | 63.21 |
| FII | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 |
| DII | 0.11 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 54.5 | 29.4 | 29.4 | 29.4 | 29.39 | 32.13 | 37.93 | 37.74 | 37.74 | 36.78 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.24 | 1.35 | 1.35 | 1.35 | 1.35 | 2.6 | 2.6 | 2.6 | 2.6 | 2.6 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.28 | 0.56 | 0.56 | 0.56 | 0.56 | 1.23 | 1.59 | 1.58 | 1.58 | 1.51 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 1.92 | 1.92 | 1.92 | 1.92 | 3.83 | 4.19 | 4.18 | 4.18 | 4.11 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +14% | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -49% | +199% | +103% | +26% |
| ROE Average | -44% | -28% | -28% | -28% |
| ROCE Average | -20% | -15% | -15% | -15% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.39 | 70.57 | 70.57 | 70.57 | 70.57 | 67.85 | 62.05 | 62.24 | 62.24 | 63.21 |
| FII | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 |
| DII | 0.11 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 54.61 | 29.43 | 29.43 | 29.43 | 29.43 | 32.15 | 37.95 | 37.76 | 37.76 | 36.79 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.24 | 1.35 | 1.35 | 1.35 | 1.35 | 2.6 | 2.6 | 2.6 | 2.6 | 2.6 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.28 | 0.56 | 0.56 | 0.56 | 0.56 | 1.23 | 1.59 | 1.58 | 1.58 | 1.51 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 1.92 | 1.92 | 1.92 | 1.92 | 3.83 | 4.19 | 4.18 | 4.18 | 4.11 |
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