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Gamco Overview

1. Business Overview

Gamco Ltd. is an Non-Banking Financial Company (NBFC) based in India. As an NBFC, its core business involves providing various financial services without holding a banking license. This typically includes extending loans and advances, undertaking acquisition of shares/stocks/bonds/debentures or other marketable securities, and managing financial assets. Gamco makes money primarily through interest income generated from its lending activities and investments, as well as fees for financial services rendered.

2. Key Segments / Revenue Mix

Specific details regarding Gamco Ltd.'s key business segments and their exact revenue contribution are not readily available in general public overviews. Typically, NBFCs in India may operate across various segments such as retail finance (e.g., personal loans, vehicle loans, housing loans), corporate finance (e.g., project finance, working capital loans), asset financing, or investment activities. Without specific data, a detailed breakdown cannot be provided.

3. Industry & Positioning

The Indian NBFC sector is a significant and dynamic part of the financial system, regulated primarily by the Reserve Bank of India (RBI). It complements traditional banking by catering to diverse credit needs, often reaching segments or niches underserved by banks (e.g., MSMEs, rural customers, specific asset classes). The industry is competitive, comprising a large number of players ranging from large, diversified NBFCs to smaller, specialized entities. Gamco Ltd., as an NBFC, operates within this competitive landscape, likely focusing on specific asset classes or customer segments where it has developed expertise or a distribution advantage. Its positioning relative to larger peers would depend on its scale, market share, and specialization.

4. Competitive Advantage (Moat)

Without specific details on Gamco Ltd.'s operations, it's challenging to identify strong, durable competitive advantages. Potential moats for NBFCs generally include:

Niche Specialization: Deep expertise and strong risk assessment in a particular lending segment (e.g., specific asset finance, microfinance).

Distribution Network: Extensive physical or digital reach into target customer segments.

Cost Efficiency: Lean operating model allowing for competitive pricing.

Customer Relationships: Long-standing relationships or strong service quality leading to repeat business.

Given the general nature, Gamco's moat, if any, would likely stem from its ability to efficiently assess and manage credit risk within its chosen lending areas or a strong localized presence.

5. Growth Drivers

Key factors that could drive Gamco Ltd.'s growth over the next 3-5 years include:

Robust Economic Growth: Sustained growth in the Indian economy leads to increased demand for credit across various sectors (retail, MSME, corporate).

Under-penetrated Credit Markets: Many segments in India still lack adequate access to formal credit, providing growth opportunities for NBFCs.

Financial Inclusion Initiatives: Government and regulatory push for broader financial access creates new customer bases.

Digitalization: Adoption of digital lending platforms and analytics can improve efficiency, reach, and risk assessment.

Infrastructure Spending: Increased government and private sector investment in infrastructure can drive demand for project and asset finance.

6. Risks

Gamco Ltd., like any NBFC, faces several inherent risks:

Credit Risk: Potential for Non-Performing Assets (NPAs) due to borrower defaults, especially during economic downturns or sector-specific stress.

Liquidity Risk: Dependence on market borrowings (banks, bond markets) makes NBFCs vulnerable to funding squeezes and rising borrowing costs.

Interest Rate Risk: Mismatch between the repricing of assets and liabilities can impact net interest margins.

Regulatory Risk: Changes in RBI regulations (e.g., capital adequacy norms, asset classification, provisioning requirements) can significantly impact profitability and operations.

Competition: Intense competition from banks, larger NBFCs, and emerging FinTech players can compress margins and market share.

Economic Slowdown: A general economic downturn can lead to reduced credit demand and higher defaults.

7. Management & Ownership

As an Indian listed company, Gamco Ltd. is likely promoted by a specific group or family, who typically hold a significant ownership stake and play a key role in its strategic direction. The quality of management – including their experience, risk management capabilities, and corporate governance practices – is crucial for an NBFC's long-term success. Ownership structure would typically involve the promoter group, institutional investors, and public shareholders. Specific details on the current management team's background or the promoter group's history are not available in a generic overview.

8. Outlook

The outlook for Gamco Ltd. is shaped by a balance of opportunities and challenges. On the upside, India's growing economy and persistent credit demand across various segments offer a fertile ground for NBFCs to expand their lending portfolios. Gamco's ability to identify and serve specific underserved niches, coupled with efficient risk management and leveraging digital advancements, could drive steady growth. However, the company operates in a highly competitive and regulated sector, exposed to significant credit, liquidity, and interest rate risks. The ability to maintain asset quality, manage funding costs effectively, and adapt to evolving regulatory landscapes will be critical for its sustained performance. The overall health of the Indian financial system and economic growth trajectory will also heavily influence its trajectory.

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Gamco Key Financials

Market Cap ₹219 Cr.

Stock P/E 33.9

P/B 2.2

Current Price ₹40.5

Book Value ₹ 18.6

Face Value 2

52W High ₹52

Dividend Yield 0.25%

52W Low ₹ 32.7

Gamco Share Price

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Volume
Price

Gamco Quarterly Price

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Gamco Peer Comparison

Gamco 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
Operating Revenue 70 68 40 37 23 5 -3 55 87 86
Other Income 1 0 0 0 0 0 0 0 0 0
Total Income 70 68 40 37 23 6 -3 55 87 86
Total Expenditure 59 51 31 13 7 10 18 33 94 87
Operating Profit 11 17 8 25 16 -4 -21 22 -7 -1
Interest Expense 2 2 2 2 2 2 2 2 3 5
Depreciation 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 9 15 7 23 14 -6 -23 20 -10 -6
Provision for Tax 1 3 1 4 4 -1 -5 5 -1 -1
Profit After Tax 8 12 5 19 11 -5 -18 15 -8 -5
Adjustments -0 -0 -0 -0 -0 -0 -0 -0 0 0
Profit After Adjustments 8 12 5 19 11 -5 -18 15 -8 -5
Adjusted Earnings Per Share 1.5 2.2 1 3.5 0.9 -0.4 -3.3 2.7 -1.5 -0.9

Gamco Profit & Loss

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Operating Revenue 5 22 16 32 10 22 84 221 62 225
Other Income 0 0 0 0 0 1 2 0 1 0
Total Income 5 22 16 32 10 23 86 221 62 225
Total Expenditure 4 21 16 34 10 23 92 175 47 232
Operating Profit 0 0 -0 -2 -0 0 -6 46 16 -7
Interest Expense 0 0 0 0 0 0 3 7 8 12
Depreciation 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 -0 -2 -0 0 -8 39 8 -19
Provision for Tax 0 0 0 0 0 0 0 6 1 -2
Profit After Tax 0 0 -1 -2 -0 0 -9 33 6 -16
Adjustments 0 0 -0 -0 -0 0 -0 -0 -0 0
Profit After Adjustments 0 0 -1 -2 -0 0 -9 33 6 -16
Adjusted Earnings Per Share 0 0 -0.1 -0.4 -0 0 -1.6 6.1 1.2 -3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -72% 41% 14% 0%
Operating Profit CAGR -65% 0% 0% 0%
PAT CAGR -82% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 10% 75% 101% NA%
ROE Average 7% 12% 7% 4%
ROCE Average 7% 10% 6% 3%

Gamco Balance Sheet

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 71 71 71 68 68 68 59 92 99
Minority's Interest 0 1 1 1 1 1 1 1 1
Borrowings 0 1 0 0 0 0 0 15 1
Current Liability 1 4 4 1 0 12 64 85 156
Other Liabilities & Provisions 0 0 -0 -0 -0 -0 0 -0 -4
Total Liabilities 72 77 75 71 69 81 124 193 253
Loans 0 0 0 0 0 0 0 38 9
Investments 44 46 38 28 26 24 18 17 32
Fixed Assets 1 1 1 1 1 1 2 2 4
Other Loans 0 0 0 0 0 0 0 0 0
Other Non Current Assets 0 0 0 0 0 0 0 0 0
Current Assets 27 31 36 42 43 56 105 135 208
Total Assets 72 77 75 71 69 81 124 193 253

Gamco Cash Flow

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 0 0 1 0 1 0 1
Cash Flow from Operating Activities 60 -0 2 -10 -2 -1 -6 41 -38
Cash Flow from Investing Activities -65 -2 0 0 2 2 5 -74 -13
Cash Flow from Financing Activities 5 2 -2 10 0 0 0 33 53
Net Cash Inflow / Outflow 0 -0 0 0 -0 1 -1 0 2
Closing Cash & Cash Equivalent 0 0 0 1 0 1 0 1 2

Gamco Ratios

# Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.01 0.04 -0.1 -0.41 -0.03 0.02 -1.58 6.14 1.19
CEPS(Rs) 0.01 0.05 -0.09 -0.4 -0.03 0.02 -1.57 6.15 1.26
DPS(Rs) 0 0 0 0 0 0 0 0.09 0.1
Book NAV/Share(Rs) 13.19 13.23 13.09 12.68 12.66 12.61 10.97 17.08 18.32
Net Profit Margin 0.76 1.04 -3.24 -6.8 -1.38 0.57 -10.14 15.06 10.48
Operating Margin 1.68 1.72 -1.93 -6.03 -0.27 1.81 -6.88 20.84 24.98
PBT Margin 1.65 1.44 -3.08 -6.75 -1.16 0.88 -9.99 17.88 12.77
ROA(%) 0.05 0.3 -0.67 -2.99 -0.19 0.17 -8.3 20.96 2.89
ROE(%) 0.05 0.32 -0.72 -3.13 -0.2 0.19 -13.35 43.83 6.74
ROCE(%) 0.11 0.52 -0.42 -2.68 -0.04 0.55 -5.71 29.38 7
Price/Earnings(x) 0 29.95 0 0 0 136.56 0 3.47 37.08
Price/Book(x) 0 0.09 0.1 0 0.1 0.26 0.77 1.25 2.4
Dividend Yield(%) 0 0 0 0 0 0 0 0.42 0.23
EV/Net Sales(x) 0.95 0.35 0.66 0.18 0.68 1.23 1.3 0.96 6.26
EV/Core EBITDA(x) 32.05 19.09 -35.06 -3.07 -259.9 68.18 -18.97 4.6 24.52
Interest Earned Growth(%) 0 375.93 -27.09 103.31 -69.32 128.42 273.09 163.01 -72.11
Net Profit Growth 0 555.22 -327.06 -326.29 93.78 194.84 -6713.92 490.43 -80.58
EPS Growth(%) 0 555.22 -337.05 -312.48 93.5 191.04 -6639.37 489.42 -80.69
Interest Coverage(x) % 60.87 6.16 -1.68 -8.32 -0.3 1.95 -2.22 7.04 2.04

Gamco Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 67.15 67.65 69.04 69.08 69.21 69.74 70.48 70.57 70.74 71.34
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 32.85 32.35 30.96 30.92 30.79 30.26 29.52 29.43 29.26 28.66
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Gamco News

Gamco Pros & Cons

Pros

  • Company has reduced debt.

Cons

  • Company has a low return on equity of 12% over the last 3 years.
  • Debtor days have increased from 1.16 to 5.04days.
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