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Gandhi Spl. Tubes Overview

Gandhi Special Tubes Ltd is engaged in production and advertising of welded and seamless metallic tubes of different sizes and specifications, and cold formed coupling nuts. The Company is engaged within the enterprise of manufacturing cars components, cold formed tube nuts for fuel injection tube assemblies, hydraulic and other tube assemblies. Its segments consist of Steel Tubes, Wind Power and Others. Its merchandise are provided to the original equipment producers of the automotive section, farm gadget manufacturers, construction equipment ...Read More

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Gandhi Spl. Tubes Key Financials

Market Cap ₹1062 Cr.

Stock P/E 18.1

P/B 3.5

Current Price ₹873.6

Book Value ₹ 252.3

Face Value 5

52W High ₹1033.7

Dividend Yield 1.72%

52W Low ₹ 622

Gandhi Spl. Tubes Share Price

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Volume
Price

Gandhi Spl. Tubes Quarterly Price

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Gandhi Spl. Tubes Peer Comparison

Gandhi Spl. Tubes Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 44 41 39 41 49 40 43 48 48 48
Other Income 3 3 3 3 4 2 2 8 3 6
Total Income 47 44 42 44 53 42 46 56 51 54
Total Expenditure 28 26 24 25 29 23 27 27 27 26
Operating Profit 18 18 19 19 24 19 18 29 24 28
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 18 18 18 18 23 18 17 28 23 26
Provision for Tax 4 4 4 4 6 3 5 6 6 7
Profit After Tax 13 13 13 14 17 15 12 22 18 20
Adjustments 0 0 -0 0 0 -0 -0 0 0 0
Profit After Adjustments 13 13 13 14 17 15 12 22 18 20
Adjusted Earnings Per Share 10.9 10.9 11 11.8 14.2 12.5 9.8 17.8 14.6 16.2

Gandhi Spl. Tubes Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 92 91 98 114 123 81 114 137 167 171 173 187
Other Income 4 3 10 8 8 6 6 5 5 12 12 19
Total Income 96 94 107 122 131 87 120 142 173 183 184 207
Total Expenditure 69 64 65 73 77 57 69 88 107 107 104 107
Operating Profit 28 30 43 49 53 30 51 54 66 77 80 99
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 4 4 4 4 3 3 3 3 3 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 23 25 38 45 50 26 48 50 63 73 77 94
Provision for Tax 7 7 7 12 11 5 11 12 16 18 18 24
Profit After Tax 16 19 31 34 39 21 36 39 47 56 59 72
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 16 19 31 34 39 21 36 39 47 56 59 72
Adjusted Earnings Per Share 10.7 12.6 21 24.3 28 16.5 28 31.7 39 45.7 48.3 58.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 1% 8% 16% 7%
Operating Profit CAGR 4% 14% 22% 11%
PAT CAGR 5% 15% 23% 14%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 28% 20% 26% 15%
ROE Average 24% 27% 25% 20%
ROCE Average 31% 35% 34% 26%

Gandhi Spl. Tubes Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 160 165 188 177 201 147 172 147 182 223 266
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 10 10 12 11 12 10 9 10 9 9 10
Total Current Liabilities 4 5 7 9 8 5 11 10 11 10 10
Total Liabilities 174 180 207 197 221 162 192 166 202 243 286
Fixed Assets 63 59 55 51 51 48 45 47 44 43 43
Other Non-Current Assets 61 64 87 81 73 39 29 39 63 129 166
Total Current Assets 50 57 64 65 97 75 118 80 95 71 77
Total Assets 174 180 207 197 221 162 192 166 202 243 286

Gandhi Spl. Tubes Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 2 2 3 3 5 4 2 3 2 28 3
Cash Flow from Operating Activities 15 29 21 32 31 19 32 42 45 26 47
Cash Flow from Investing Activities -1 -14 -5 13 -17 56 -20 22 -7 -37 -30
Cash Flow from Financing Activities -13 -13 -16 -44 -15 -76 -12 -64 -12 -15 -16
Net Cash Inflow / Outflow 0 1 0 1 -1 -1 1 -0 26 -25 1
Closing Cash & Cash Equivalent 2 3 3 5 4 2 3 2 28 3 4

Gandhi Spl. Tubes Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 10.75 12.62 20.96 24.29 27.96 16.54 27.98 31.74 38.95 45.74 48.28
CEPS(Rs) 14.11 15.82 23.99 27.09 30.63 19.3 30.54 34.41 41.53 48.27 51.04
DPS(Rs) 7.5 7.5 9 9 9 9 9 10 12 13 15
Book NAV/Share(Rs) 108.91 112.51 127.66 128.26 145.49 113.46 133.1 121.11 149.85 183.33 218.68
Core EBITDA Margin(%) 22.74 26.38 30.24 35.07 37.24 29.4 39.46 35.91 36.23 37.53 39.64
EBIT Margin(%) 22.23 24.71 34.92 38.79 40.51 32.23 41.96 37.03 37.61 42.97 44.59
Pre Tax Margin(%) 22.21 24.7 34.9 38.78 40.48 32.16 41.9 36.85 37.54 42.92 44.48
PAT Margin (%) 15.39 18.17 28.24 28.62 31.43 26.41 31.85 28.15 28.27 32.52 34.01
Cash Profit Margin (%) 20.21 22.78 32.33 31.93 34.43 30.8 34.75 30.52 30.14 34.32 35.95
ROA(%) 9.13 10.48 15.92 16.61 18.47 11.17 20.42 21.5 25.68 24.98 22.2
ROE(%) 9.94 11.4 17.45 18.4 20.42 12.3 22.7 24.17 28.75 27.45 24.02
ROCE(%) 14.37 15.5 21.58 24.94 26.32 15.01 29.91 31.79 38.26 36.28 31.49
Receivable days 49.76 51.48 54.21 55.6 51.72 67.87 64.61 56.16 37.68 40.01 43.96
Inventory Days 91.4 80.11 69.19 69.1 69.75 117.62 74.28 59.63 51.74 70.22 91.7
Payable days 16.91 11.73 10.82 12.36 14.38 16.76 13.27 11.6 8.55 8.92 10.41
PER(x) 23.58 15.94 15.94 14.99 12.41 12.39 9.51 11.01 12.59 16.07 13.47
Price/Book(x) 2.33 1.79 2.62 2.84 2.39 1.81 2 2.88 3.27 4.01 2.97
Dividend Yield(%) 2.96 3.73 2.69 2.47 2.59 4.39 3.38 2.86 2.45 1.77 2.31
EV/Net Sales(x) 4.03 3.21 5 4.38 3.87 3.25 3 3.08 3.39 5.21 4.56
EV/Core EBITDA(x) 13.34 9.78 11.46 10.1 8.9 8.86 6.69 7.82 8.59 11.63 9.8
Net Sales Growth(%) 10.02 -0.79 7.02 16.77 7.88 -34.15 40.26 20.67 22.25 2.04 0.97
EBIT Growth(%) -21.88 10.53 51.01 19.44 9.45 -47.6 82.58 6.5 24.17 16.58 4.75
PAT Growth(%) -8.74 17.43 66.07 8.96 15.09 -44.67 69.15 6.68 22.74 17.41 5.57
EPS Growth(%) -8.74 17.43 66.07 15.89 15.09 -40.82 69.15 13.41 22.74 17.41 5.57
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 12.45 12.43 9.28 7.24 11.89 15.17 10.7 8.33 8.45 6.79 7.81
Quick Ratio(x) 5.53 8.73 5.76 5.02 8.58 10.05 8.79 5.87 6.35 2.75 3.3
Interest Cover(x) 1078.07 1608.38 2104.39 2419.84 1364.11 426.28 720.61 207.99 510.86 774.64 431.2
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Gandhi Spl. Tubes Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 73.53 73.53 73.53 73.53 73.53 73.53 73.53 73.53 73.53 73.53
FII 1.48 1.42 1.42 1.41 1.41 1.4 1.4 1.23 1.23 1.23
DII 0.01 0.01 0.01 0.01 0.05 0.05 0.05 0.05 0.06 0.06
Public 24.99 25.04 25.04 25.05 25.01 25.02 25.03 25.19 25.19 25.18
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Gandhi Spl. Tubes News

Gandhi Spl. Tubes Pros & Cons

Pros

  • Company has delivered good profit growth of 22% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 8.92 to 10.41days.
  • Stock is trading at 3.5 times its book value.
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