Arthneeti

GEE Q1 FY27 Share Price & Earnings Call Analysis

₹109.45-7.60% today
Market cap
₹569 Cr
P/E
31.66
ROE
7.53%
PEG
1.47
Price to sales
1.44
Debt to equity
0.28
52W high / low
₹141 / ₹54.0
Sales growth (5Y)
7.88%
EBITDA margin
9.39%
Net profit margin
4.17%
Promoter holding
63.58%
Sales (last year)
₹393 Cr

Incorporated in 1996, GEE Ltd manufactures Welding Electrodes, Copper Coated Wires, Flux Cored Wires and Welding Fluxes[1]

Guidance scorecard · Q1 FY27 call

What GEE's management guided
and where it ranks in Electrical Equipment

Revenue20–40%MarginsUp 2%+CapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ4 FY26 call

20–40%
  • GEE Limited targets 25%-30% CAGR revenue growth till FY29, aiming to reach INR1,000 crore by FY29-2030.
  • Growth driven by increasing market share from current ~INR400 crore, targeting 10%-15% of INR15,000-20,000 crore Indian welding market.
  • Expansion fueled by growth in power sector (thermal, nuclear, hydro), defense, railways (including bullet train and metro), and exports.
  • Plans to triple export business within two years.
  • Capacity utilization to increase from current ~57% by adding ancillary machines and new production lines, focusing on flux core wires (targeting INR50 crore+ revenue annually).

2 more points from GEE's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Up 2%+

See what GEE said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • Planned capex of around INR 20-30 crores for ancillary machines and shifting machinery from the Thane facility to a new location.
  • Addition of new production lines, including flux core wire lines, expected to start generating over INR 50 crore revenue annually from July.
  • Intends to utilize unutilized capacity (current usage around 57%) by adding ancillary machines to boost capacity utilization to 80-90%.
  • Strategic investments planned to acquire companies in related sectors such as welding equipment, safety equipment, and maintenance products to expand business.
  • Target to grow company size from INR 1,000 crore to INR 2,000 crore in 5-6 years via acquisitions.

2 more points from GEE's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what GEE said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Rising
  • The company has a pending order of more than 20 tons for Inconel electrodes, priced between INR 2,500 to INR 3,500 per kg.
  • For cobalt alloys, GEE Limited recorded a business of more than INR 10 crore last year, with plans to double this business in the current year. Prices range from INR 3,500 to INR 5,500 per kg.
  • For defense, specialized applications yielded around INR 25 crores last year, with orders expected to grow.
  • Power sector approvals from players like BHEL, NPCIL, and Adani Power indicate a strong order pipeline.

2 more points from GEE's call on the order book

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Full Q4 FY26 analysis
Full Electrical Equipment ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Electrical Equipment
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does GEE rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Electrical Equipment companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹66,283 Cr16.5
240%+Up 2%+₹464 Cr11.6
340%+Up 0–2%₹12,066 Cr47.0
440%+Up 0–2%₹500 Cr6.7
540%+Flat₹20,621 Cr111.2
640%+Flat₹15,855 Cr11.2

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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment ranking

Financials of GEE

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of GEE

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +99.5595.1397.4984.6191.9182.0982.8380.9587.9779.1885.4592.35112.16
Expenses +98.4588.5087.7375.7787.6175.6077.2676.04104.1274.6476.4683.61101.03
Operating Profit1.106.639.768.844.306.495.574.91-16.154.548.998.7411.13
OPM %1.10%6.97%10.01%10.45%4.68%7.91%6.72%6.07%-18.36%5.73%10.52%9.46%9.92%
Other Income +0.330.080.130.050.470.040.250.11-0.120.020.030.02-2.22
Interest3.601.721.653.001.801.992.242.262.422.242.382.021.82
Depreciation1.071.021.021.020.961.021.021.031.091.021.021.030.77
Profit before tax-3.243.977.224.872.013.522.561.73-19.781.305.625.716.32
Tax %-26.85%25.19%25.21%25.26%58.21%25.28%25.00%25.43%-23.71%25.38%25.27%25.22%43.99%
Net Profit +-2.382.975.403.640.842.641.911.29-15.080.984.214.273.54
EPS in Rs-0.460.571.040.700.160.510.370.25-2.900.190.810.820.68

Financials of GEE

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +180190199216274271253324396369334369
Expenses +166175185203260251227296372340333336
Operating Profit15141413152026282330133
OPM %8%8%7%6%5%8%10%9%6%8%0%9%
Other Income +13011121110-2
Interest775577569898
Depreciation433444444444
Profit before tax476551118201218-1219
Tax %46%37%39%31%42%8%29%23%26%29%-23%31%
Net Profit +25333101315913-913
EPS in Rs0.460.880.670.660.531.882.432.901.642.47-1.782.50
Dividend Payout %30%16%0%21%0%0%0%0%0%0%0%0%

Financials of GEE

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital5555555555510
Reserves5458138142144154166181188199188205
Borrowings +534348566559607787828164
Other Liabilities +253726253637333539383637
Total Liabilities137142217227250254264298320324311315
Fixed Assets +4847130130131128137147143171167128
CWIP110122100002
Investments330000000000
Other Assets +86928896118124126150176152144186
Total Assets137142217227250254264298320324311315

Financials of GEE

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +517513256314514-11
Cash from Investing Activity +-3-1-4-4-5-4-10-14-1-34-522
Cash from Financing Activity +-1-14-122-13-4112-13-9-11
Net Cash Flow110-1-08-8-01-2-00
Free Cash Flow3141-3-3235-4-011127
CFO/OP43%133%50%21%31%131%43%28%25%166%1,959%-21%

Financials of GEE

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days706571687075846267504854
Inventory Days9910892948980102106109120116121
Days Payable385745404651473233323527
Cash Conversion Cycle131116118122113104139137143139129148
Working Capital Days392325363226555352392895
ROCE %11%13%7%5%6%8%10%10%8%9%-1%11%
86out of 100

Momentum score · price trend

86 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+37.2%81%
Last 6 months+82.4%95%
Last 3 months+4.7%76%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For GEE: 0.4 × 81 + 0.4 × 95 + 0.2 × 76 = 86.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What GEE's management said in earlier quarters

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