Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Garg Furnace
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 53.38 | 62.35 | 61.75 | 61.75 | 65.40 | 71.02 | 62.33 | 62.16 | 62.97 | 74.16 | 60.15 | 61.38 | 92.39 |
| Expenses + | 52.51 | 58.10 | 60.83 | 60.83 | 63.34 | 68.92 | 60.47 | 61.09 | 60.77 | 71.60 | 58.68 | 58.27 | 88.35 |
| Operating Profit | 0.87 | 4.25 | 0.92 | 0.92 | 2.06 | 2.10 | 1.86 | 1.07 | 2.20 | 2.56 | 1.47 | 3.11 | 4.04 |
| OPM % | 1.63% | 6.82% | 1.49% | 1.49% | 3.15% | 2.96% | 2.98% | 1.72% | 3.49% | 3.45% | 2.44% | 5.07% | 4.37% |
| Other Income + | 0.06 | 0.04 | 0.03 | 0.03 | 0.08 | 1.17 | 0.13 | 0.11 | 0.30 | 1.16 | 0.23 | 0.09 | 0.11 |
| Interest | 0.04 | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 |
| Depreciation | 0.36 | 0.38 | 0.38 | 0.38 | 0.40 | 0.40 | 0.39 | 0.41 | 0.42 | 0.42 | 0.43 | 0.44 | 0.44 |
| Profit before tax | 0.53 | 3.85 | 0.52 | 0.52 | 1.70 | 2.83 | 1.57 | 0.74 | 2.05 | 3.28 | 1.25 | 2.74 | 3.68 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit + | 0.53 | 3.85 | 0.51 | 0.51 | 1.70 | 2.83 | 1.56 | 0.74 | 2.05 | 3.28 | 1.25 | 2.74 | 3.68 |
| EPS in Rs | 1.32 | 9.60 | 1.27 | 1.27 | 4.24 | 6.14 | 3.38 | 1.61 | 4.09 | 6.55 | 2.50 | 4.02 | 5.40 |
Financials of Garg Furnace
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 148 | 146 | 90 | 54 | 66 | 112 | 99 | 119 | 179 | 238 | 258 | 262 | 288 |
| Expenses + | 139 | 139 | 95 | 65 | 70 | 118 | 105 | 119 | 171 | 231 | 253 | 254 | 277 |
| Operating Profit | 9 | 8 | -5 | -11 | -4 | -6 | -6 | 0 | 7 | 7 | 5 | 8 | 11 |
| OPM % | 6% | 5% | -5% | -21% | -7% | -5% | -7% | 0% | 4% | 3% | 2% | 3% | 4% |
| Other Income + | 1 | 1 | 0 | 0 | 5 | 13 | 12 | -3 | 0 | 0 | 2 | 2 | 2 |
| Interest | 8 | 8 | 7 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 1 | 0 | -13 | -14 | -1 | 5 | 4 | -5 | 6 | 6 | 6 | 8 | 11 |
| Tax % | 29% | -80% | 0% | 0% | -91% | 0% | 0% | 1% | 0% | 0% | 0% | 0% | |
| Net Profit + | 1 | 1 | -13 | -14 | -0 | 5 | 4 | -5 | 6 | 6 | 6 | 8 | 11 |
| EPS in Rs | 2.34 | 1.35 | -33.00 | -33.80 | -0.32 | 12.75 | 8.93 | -11.75 | 15.77 | 14.82 | 12.06 | 15.25 | 18.47 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Garg Furnace
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 7 |
| Reserves | 27 | 27 | 14 | 0 | 0 | 5 | 9 | 4 | 11 | 17 | 44 | 57 | 86 |
| Borrowings + | 43 | 54 | 75 | 75 | 73 | 39 | 9 | 8 | 10 | 5 | 2 | 1 | 1 |
| Other Liabilities + | 37 | 64 | 19 | 12 | 5 | 10 | 25 | 28 | 25 | 33 | 11 | 14 | 18 |
| Total Liabilities | 111 | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 | 61 | 78 | 112 |
| Fixed Assets + | 15 | 25 | 23 | 22 | 21 | 20 | 19 | 14 | 15 | 15 | 14 | 14 | 14 |
| CWIP | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 2 | 3 | 2 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 37 |
| Other Assets + | 89 | 121 | 86 | 67 | 59 | 38 | 29 | 29 | 35 | 43 | 46 | 59 | 62 |
| Total Assets | 111 | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 | 61 | 78 | 112 |
Financials of Garg Furnace
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 11 | 6 | -18 | -1 | 3 | 31 | 23 | 3 | 0 | 8 | -13 | 4 |
| Cash from Investing Activity + | -5 | -7 | 2 | 0 | -0 | 3 | -0 | -0 | -2 | -4 | -0 | -5 |
| Cash from Financing Activity + | -6 | 3 | 15 | -1 | -1 | -35 | -23 | -2 | 2 | -6 | 19 | 6 |
| Net Cash Flow | -1 | 2 | -2 | -2 | 2 | -2 | -0 | 1 | 1 | -1 | 5 | 4 |
| Free Cash Flow | 5 | -1 | -18 | -1 | 2 | 33 | 23 | 3 | -2 | 6 | -14 | 2 |
| CFO/OP | 115% | 81% | 395% | 10% | -64% | -516% | -355% | 2,164% | 6% | 118% | -267% | 45% |
Financials of Garg Furnace
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139 | 212 | 171 | 237 | 129 | 35 | 35 | 33 | 21 | 27 | 32 | 32 |
| Inventory Days | 39 | 39 | 50 | 23 | 82 | 71 | 44 | 41 | 41 | 28 | 12 | 26 |
| Days Payable | 91 | 177 | 68 | 72 | 28 | 25 | 28 | 25 | 18 | 16 | 14 | 12 |
| Cash Conversion Cycle | 87 | 74 | 153 | 188 | 184 | 81 | 51 | 49 | 44 | 39 | 30 | 47 |
| Working Capital Days | 13 | 25 | -73 | -258 | -200 | -35 | -19 | -18 | 4 | 3 | 33 | 40 |
| ROCE % | 12% | 10% | -6% | -15% | -1% | -9% | -17% | -6% | 32% | 24% | 15% | 14% |
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