WEBSITE BSE:544163 NSE: GVL Inc. Year: 2023 Industry: Petrochemicals My Bucket: Add Stock
Last updated: 11:05
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1. Business Overview
Greenhitech Ventures Ltd. (GVL) is primarily engaged in the trading and distribution of various petroleum products, including biofuels, base oil, furnace oil, light diesel oil, and other allied products. The company sources these products from both domestic oil refineries and private suppliers, distributing them to a diverse client base across industries. Additionally, GVL provides bunkering solutions, supplying marine fuels to vessels. Its core business model revolves around procuring petroleum products, managing logistics, and supplying them to end-users, earning margins on the traded volumes and service fees for bunkering.
2. Key Segments / Revenue Mix
GVL's operations are largely integrated into the trading and supply of petroleum products and bunkering services. While explicit revenue breakdown by distinct product categories or services is not typically provided publicly in detailed segments for a company of its size, its primary revenue streams stem from:
Trading of petroleum products (biofuels, base oil, furnace oil, etc.)
Bunkering solutions (marine fuel supply)
The company operates primarily within the petroleum product distribution value chain.
3. Industry & Positioning
GVL operates within the broader Indian petrochemicals and petroleum products distribution industry. This sector is critical for the nation's industrial growth, transportation, and energy needs. The upstream (refining) segment is dominated by large public sector undertakings (PSUs) and major private players. GVL positions itself in the downstream trading and distribution segment, serving as an intermediary between refiners/suppliers and industrial/commercial end-users. It operates as a smaller, niche player compared to integrated oil majors, likely focusing on specific product categories (e.g., biofuels) or regional markets, leveraging its supply chain and client network.
4. Competitive Advantage (Moat)
GVL's competitive advantages are likely derived from:
Supplier & Customer Relationships: Established network of relationships with domestic refineries and private suppliers for procurement, and a growing client base for distribution.
Logistics & Supply Chain Efficiency: Ability to efficiently manage the sourcing, storage, and timely delivery of petroleum products, which is crucial in a commodity trading business.
Product Diversification: Offering a range of petroleum products, including newer segments like biofuels, can help cater to varied market demands.
However, the trading business often faces challenges of low switching costs for customers and competition from numerous other traders. Scale is generally not a significant moat for GVL when compared to the largest industry players.
5. Growth Drivers
Key factors that can drive GVL's growth over the next 3-5 years include:
Rising Energy Demand: India's sustained economic growth and industrialization will continue to drive demand for petroleum products and derivatives.
Biofuel Adoption: Government emphasis and policy push for biofuels could create new growth avenues for GVL, especially if it expands its footprint in this segment.
Expansion of Distribution Network: Growing its geographic reach, adding new warehouses/storage facilities, and expanding its client base.
Product Portfolio Expansion: Introduction of new allied products or specialized chemicals to cater to evolving industrial needs.
Infrastructure Development: Increased demand from infrastructure projects for fuel and lubricants.
6. Risks
GVL faces several key business risks:
Crude Oil Price Volatility: As a trader of petroleum products, fluctuations in global crude oil prices directly impact its raw material costs and selling prices, potentially affecting margins.
Intense Competition: The petroleum products trading and distribution market is highly competitive with numerous small and large players, leading to potential margin pressure.
Regulatory and Policy Changes: Changes in government policies related to fuel pricing, taxation, environmental regulations, or import/export norms can impact operations and profitability.
Logistics and Supply Chain Disruptions: Dependency on efficient transportation and storage infrastructure means disruptions can impact delivery timelines and costs.
Economic Downturn: A slowdown in industrial activity or general economic recession could reduce demand for petroleum products.
Credit Risk: Exposure to credit risk from customers, especially in bulk trading, could lead to bad debts.
7. Management & Ownership
Greenhitech Ventures Ltd. is promoted by individuals such as Mr. Shailesh Kumar and Ms. Priyanka Singh, who typically hold a significant stake in the company post-listing, aligning their interests with the company's performance. The management team's experience in the petroleum products trading and distribution sector would be crucial for navigating market dynamics and executing growth strategies. Information on broader management quality and specific ownership structure beyond promoter holding would typically be detailed in their Red Herring Prospectus (RHP) and public filings.
8. Outlook
Greenhitech Ventures Ltd. operates in a fundamental sector tied to India's economic growth. The growing demand for energy and industrial inputs provides a favorable backdrop for its trading business. Its focus on product diversification, particularly in biofuels, could offer opportunities for differentiation and growth, aligning with national energy policies. However, the company operates in a highly competitive, commoditized industry characterized by volatile raw material prices (crude oil) and potential margin pressures. Its ability to maintain strong supplier relationships, manage logistics efficiently, expand its customer base, and navigate regulatory complexities will be key to its sustained profitability and growth. The lack of significant scale compared to larger integrated players means it needs to be agile and efficient in its niche.
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Market Cap ₹38 Cr.
Stock P/E 24.9
P/B 1.1
Current Price ₹79.9
Book Value ₹ 76.1
Face Value 10
52W High ₹141.8
Dividend Yield 0%
52W Low ₹ 70
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) |
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| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 8 | 20 | |
| Other Income | 0 | 0 | |
| Total Income | 8 | 20 | |
| Total Expenditure | 6 | 17 | |
| Operating Profit | 2 | 3 | |
| Interest | 0 | 1 | |
| Depreciation | 0 | 0 | |
| Exceptional Income / Expenses | 0 | 0 | |
| Profit Before Tax | 2 | 2 | |
| Provision for Tax | 0 | 1 | |
| Profit After Tax | 1 | 2 | |
| Adjustments | 0 | 0 | |
| Profit After Adjustments | 1 | 2 | |
| Adjusted Earnings Per Share | 3.4 | 3.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 150% | 0% | 0% | 0% |
| Operating Profit CAGR | 50% | 0% | 0% | 0% |
| PAT CAGR | 100% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -36% | NA% | NA% | NA% |
| ROE Average | 18% | 20% | 20% | 20% |
| ROCE Average | 19% | 19% | 19% | 19% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 5 | 12 |
| Minority's Interest | 0 | 0 |
| Borrowings | 1 | 0 |
| Other Non-Current Liabilities | -0 | -0 |
| Total Current Liabilities | 26 | 13 |
| Total Liabilities | 32 | 24 |
| Fixed Assets | 0 | 1 |
| Other Non-Current Assets | 1 | 0 |
| Total Current Assets | 31 | 24 |
| Total Assets | 32 | 24 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 |
| Cash Flow from Operating Activities | -8 | -5 |
| Cash Flow from Investing Activities | -0 | -0 |
| Cash Flow from Financing Activities | 9 | 6 |
| Net Cash Inflow / Outflow | 0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | 3.44 | 3.21 |
| CEPS(Rs) | 3.74 | 3.47 |
| DPS(Rs) | 0 | 0 |
| Book NAV/Share(Rs) | 15.68 | 25.12 |
| Core EBITDA Margin(%) | 23.23 | 13.25 |
| EBIT Margin(%) | 22.06 | 12.74 |
| Pre Tax Margin(%) | 18.14 | 10.16 |
| PAT Margin (%) | 13.53 | 7.6 |
| Cash Profit Margin (%) | 14.7 | 8.23 |
| ROA(%) | 3.65 | 5.3 |
| ROE(%) | 21.95 | 17.53 |
| ROCE(%) | 19.44 | 18.67 |
| Receivable days | 928.54 | 383.71 |
| Inventory Days | 148.62 | 50.82 |
| Payable days | 1723.84 | 349.16 |
| PER(x) | 0 | 25.75 |
| Price/Book(x) | 0 | 3.29 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 0.94 | 2.25 |
| EV/Core EBITDA(x) | 3.85 | 16.64 |
| Net Sales Growth(%) | 0 | 135.37 |
| EBIT Growth(%) | 0 | 30.76 |
| PAT Growth(%) | 0 | 27.32 |
| EPS Growth(%) | 0 | -6.81 |
| Debt/Equity(x) | 0.84 | 0.45 |
| Current Ratio(x) | 1.21 | 1.9 |
| Quick Ratio(x) | 1.07 | 1.74 |
| Interest Cover(x) | 5.63 | 4.95 |
| Total Debt/Mcap(x) | 0 | 0.14 |
| # | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 70.64 | 70.64 | 56.35 | 56.35 |
| FII | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0.36 | 0.36 |
| Public | 29.36 | 29.36 | 43.28 | 43.28 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0.33 | 0.33 | 0.73 | 0.73 |
| FII | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 |
| Public | 0.14 | 0.14 | 0.56 | 0.56 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0.47 | 0.47 | 1.3 | 1.3 |
* The pros and cons are machine generated.
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