Pharmaceuticals & Drugs · Founded 1991 · www.gujaratinject.in · BSE 524238 · · ISIN INE659F01014
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Business
Gujarat Inject (Kerala) Ltd. operates within the Pharmaceuticals & Drugs sector in India. Given the company name, its core business likely involves the manufacturing and marketing of pharmaceutical formulations, with a probable specialization in injectable products ("Inject" in the name). The company's business model involves developing, manufacturing (potentially through its own facilities or contract manufacturing), and distributing pharmaceutical products to healthcare providers, hospitals, pharmacies, and potentially government agencies within India. It generates revenue through the sale of these pharmaceutical formulations.
Revenue Mix
Without specific financial reports or detailed company disclosures, precise revenue segmentation is not available. However, given its name, the primary and likely dominant segment is the manufacturing and sale of injectable pharmaceutical formulations. The company may also produce other non-injectable dosage forms or engage in contract manufacturing, but this cannot be confirmed without further data.
Industry
The Indian pharmaceutical industry is highly fragmented, characterized by a large number of domestic players ranging from large multinational corporations to mid-sized and small enterprises. It is largely driven by the production and export of generic drugs, a growing domestic market, and increasing healthcare expenditure.
Gujarat Inject (Kerala) Ltd., being a company with "Gujarat" and "Kerala" in its name, suggests a potential regional focus or operational base. In this competitive landscape, it is likely positioned as a smaller-to-mid-sized player, potentially specializing in a niche area like injectables. It competes with a multitude of domestic companies, including larger integrated players and other specialized SMEs, on factors like product quality, pricing, distribution reach, and regulatory compliance.
MOAT
For a smaller player in the Indian pharmaceutical sector, establishing a strong, durable competitive advantage can be challenging. Potential sources of a moat for Gujarat Inject (Kerala) Ltd. could include:
Niche Specialization: Expertise and facilities for sterile injectable manufacturing, which can be a higher barrier to entry compared to other dosage forms.
Regulatory Approvals: Possession of specific product approvals (e.g., from DCGI in India) for its formulations.
Regional Distribution Network: A strong, established network in specific regions (e.g., Gujarat, Kerala, or surrounding states) leading to efficient market penetration.
Cost Efficiency: Ability to produce certain formulations at a competitive cost.
However, without specific information, it is difficult to ascertain a significant and durable moat against larger, more diversified competitors. Many smaller players primarily compete on price and operational efficiency within their chosen niches.
Growth Drivers
Growing Domestic Healthcare Demand: Increasing population, rising disposable incomes, higher prevalence of lifestyle and chronic diseases, and expanding health insurance penetration in India will drive demand for pharmaceuticals.
Focus on Injectables: Continued demand for sterile and critical care injectables in hospitals and clinics.
Product Portfolio Expansion: Launch of new generic formulations or expanding into new therapeutic areas.
Improved Healthcare Infrastructure: Expansion of hospitals and clinics, particularly in tier 2 and tier 3 cities, creating new market opportunities.
Contract Manufacturing: Potential for growth through contract manufacturing arrangements for larger pharma companies, leveraging its manufacturing capabilities.
Risks
Intense Competition: High fragmentation in the Indian pharma market leads to fierce competition and pricing pressures, particularly for generic products.
Regulatory Scrutiny: Strict and evolving regulatory requirements (e.g., by DCGI, state FDA) for manufacturing, quality control, and product approvals.
Raw Material Price Volatility: Dependence on imports for Active Pharmaceutical Ingredients (APIs) and excipients can expose the company to currency fluctuations and supply chain disruptions.
Limited Scale & Resources: As a smaller entity, it may face challenges in R&D investment, large-scale distribution, and marketing compared to bigger players.
Product Concentration Risk: Over-reliance on a limited number of products or therapeutic areas could expose the company to significant revenue fluctuations if those products face issues.
Management & Ownership
Typical for many Indian companies, Gujarat Inject (Kerala) Ltd. is likely promoter-driven, with significant ownership held by the founding family or individuals. The quality of management would be crucial for navigating the competitive pharmaceutical landscape, ensuring regulatory compliance, and driving growth. As a publicly listed entity (GUJINJK), there would also be public shareholding, but the promoter group usually holds a controlling stake. Specific details on management individuals and their track records are not available in the provided information.
Outlook
Gujarat Inject (Kerala) Ltd. operates in the resilient and growing Indian pharmaceutical market, which benefits from strong domestic demand and government healthcare initiatives. Its potential specialization in injectables could provide a niche advantage, given the technical expertise required for sterile manufacturing.
However, the company faces significant challenges typical of smaller players in a highly competitive and fragmented industry. Intense pricing pressure, strict regulatory oversight, and the need for continuous investment in quality and product development are ongoing hurdles. Its ability to achieve sustainable growth will depend on efficient operations, strategic product selection, strong quality control, and effective market penetration against larger, well-resourced competitors. The outlook is cautiously optimistic, acknowledging the sector's tailwinds but emphasizing the execution risks for a mid-to-small enterprise.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 5 | 3 | 9 | 3 | 4 | 2 | 2 | 2 | 31 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 5 | 3 | 9 | 3 | 4 | 2 | 2 | 2 | 31 |
| Total Expenditure | 0 | 5 | 3 | 8 | 3 | 4 | 2 | 2 | 2 | 28 |
| Operating Profit | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit After Tax | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Adjusted Earnings Per Share | 0 | 0 | 0.1 | 0.4 | 0.1 | 0 | 0 | 0 | 0 | 1.1 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 37 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 1 | 6 | 37 |
| Total Expenditure | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 1 | 6 | 34 |
| Operating Profit | -0 | -0 | 0 | 0 | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | 2 | 0 | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit After Tax | -0 | -0 | 2 | 0 | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | 2 | 0 | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 2 |
| Adjusted Earnings Per Share | -0 | -0 | 4.7 | 0 | -0 | -0 | 0 | -0.2 | 0 | 0.1 | 0.1 | 1.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 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 | 300% | 126% | NA% | NA% |
| ROE Average | 3% | 1% | 1% | 0% |
| ROCE Average | 3% | 1% | 1% | 0% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -3 | -3 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | 9 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 3 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Total Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Total Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Total Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 0 | -0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 | 0 | -6 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| Net Cash Inflow / Outflow | 0 | -0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 | 0 | 3 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.01 | -0.01 | 4.72 | 0.01 | -0.03 | -0.01 | 0 | -0.22 | 0 | 0.08 | 0.07 |
| CEPS(Rs) | -0.01 | -0.01 | 4.72 | 0.01 | -0.03 | -0.01 | 0 | -0.22 | 0 | 0.08 | 0.07 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -6.27 | -6.27 | -1.56 | -1.54 | -1.58 | -1.59 | -1.59 | -1.8 | -1.8 | -1.71 | 5.01 |
| Core EBITDA Margin(%) | 0 | 0 | 4.06 | 0.63 | 0 | 0 | 0 | -982.24 | -200.24 | -216.96 | 0.78 |
| EBIT Margin(%) | 0 | 0 | 0 | 0.63 | 0 | 0 | 0 | -911.24 | 13.14 | 31.96 | 1.83 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0.63 | 0 | 0 | 0 | -911.24 | 13.05 | 31.93 | 1.82 |
| PAT Margin (%) | 0 | 0 | 0 | 0.4 | 0 | 0 | 0 | -911.24 | 9.78 | 23.62 | 1.43 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0.4 | 0 | 0 | 0 | -911.24 | 9.78 | 23.62 | 1.43 |
| ROA(%) | -1.68 | -1.84 | 1373.74 | 6.93 | -102.49 | -30.2 | 1.57 | -664.44 | 5.37 | 22.31 | 1.84 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.44 |
| ROCE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.54 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 96.56 | 96.48 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 765.47 | 14.62 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 93.33 | 135.74 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.57 | 1.99 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 326.31 | 3.46 | 0 | 0 | 0 | 482.09 | 248.3 | 25.18 | 1.44 |
| EV/Core EBITDA(x) | -2398.44 | -2416.62 | 8036.83 | 545.8 | -320.67 | -1060.91 | 0 | -52.9 | 1889.18 | 78.78 | 78.68 |
| Net Sales Growth(%) | -100 | 0 | 0 | 9330.97 | -100 | 0 | 0 | 0 | 95.67 | 668.88 | 3231.11 |
| EBIT Growth(%) | 62.19 | -3.44 | 0 | -99.57 | -271.29 | 69.78 | 104.27 | 0 | 102.82 | 1769.8 | 90.33 |
| PAT Growth(%) | 62.06 | -3.37 | 0 | -99.73 | -372.15 | 69.78 | 104.27 | 0 | 102.1 | 1757.47 | 101.63 |
| EPS Growth(%) | 62.06 | -3.37 | 0 | -99.73 | -372.66 | 69.8 | 104.74 | 0 | 102.09 | 1766.67 | -12.74 |
| Debt/Equity(x) | -0.83 | -0.94 | -0.74 | -0.75 | -0.76 | -0.76 | -0.76 | -0.79 | -0.84 | -0.73 | 0 |
| Current Ratio(x) | 0.06 | 0.06 | 0.27 | 0.03 | 0.04 | 0.03 | 0.03 | 0.02 | 0.05 | 0.1 | 40.77 |
| Quick Ratio(x) | 0.06 | 0.06 | 0.27 | 0.03 | 0.04 | 0.03 | 0.03 | 0.02 | 0.03 | 0.1 | 40.77 |
| Interest Cover(x) | -50.03 | -51.75 | 0 | 0 | 0 | 0 | 0 | 0 | 144.19 | 1108.59 | 237.71 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.16 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.49 | 1.4 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.49 | 1.4 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +300% | +126% | — | — |
| ROE Average | +3% | +1% | +1% | 0% |
| ROCE Average | +3% | +1% | +1% | 0% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.49 | 1.4 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.49 | 1.4 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 |
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