GFL Ltd Q2 FY21 Share Price & Earnings Call Analysis

Financials of GFL Ltd

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

Financials of GFL Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +1111111111111
Expenses +1561500243140221000
Operating Profit0-55-1400-23-30-30-21-1011
OPM %5%-6,884%-1,639%60%53%-2,921%-3,694%-325%52%-2,543%-1,036%58%57%
Other Income +-402,45002610005001715
Interest0000000000000
Depreciation0000000000000
Profit before tax-402,395-14272-23-30-35-21-91715
Tax %0%6%-11%12%16%-11%-11%1,219%15%-14%-14%15%15%
Net Profit +-402,258-12241-20-27-355-18-81513
EPS in Rs-1.60205.48-1.112.160.13-1.86-2.41-3.220.42-1.66-0.741.331.18

Financials of GFL Ltd

Profit & Loss

Annual income statement trend

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +3,431.305,310.316,971.516,288.403,892.562,968.841,907.70117.11698.762,453.723.523.653.63
Expenses +2,832.174,275.125,668.345,127.293,147.082,504.371,049.51188.50618.9233.9511.9052.0333.45
Operating Profit599.131,035.191,303.171,161.11745.48464.47858.19-71.3979.842,419.77-8.38-48.38-29.82
OPM %17.46%19.49%18.69%18.46%19.15%15.64%44.99%-60.96%11.43%98.62%-238.07%-1,325.48%-821.49%
Other Income +44.44293.9791.34-92.01112.371,279.26-497.6068.81155.53-47.360.220.0031.45
Interest178.92218.77217.68278.99279.21167.48219.06252.55258.280.000.000.000.00
Depreciation200.44284.75324.53348.70299.22168.68264.22283.22293.860.020.020.020.01
Profit before tax264.21825.64852.30441.41279.421,407.57-122.69-538.35-316.772,372.39-8.18-48.401.62
Tax %14.25%19.20%28.51%51.40%14.09%4.15%92.73%-20.13%-23.12%5.79%-7.46%56.16%
Net Profit +230.67667.13609.33214.51240.071,349.09-236.47-429.98-243.542,234.99-7.57-75.591.18
EPS in Rs16.9353.2536.338.0223.07118.73-11.23-21.08-10.12204.58-0.69-6.880.11
Dividend Payout %20.67%6.57%9.63%43.65%15.17%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Financials of GFL Ltd

Balance Sheet

Capital structure and asset base

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital10.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.9910.99
Reserves3,285.994,224.274,442.604,507.274,755.815,965.842,167.75361.60342.032,590.772,583.272,509.682,515.87
Borrowings +2,302.312,565.422,972.773,307.962,019.491,220.162,836.792,855.602,948.080.000.000.000.00
Other Liabilities +1,482.382,562.803,053.083,104.542,966.474,334.034,570.66654.88733.45139.38137.84164.87165.80
Total Liabilities7,081.679,363.4810,479.4410,930.769,752.7611,531.029,586.193,883.074,034.552,741.142,732.102,685.542,692.66
Fixed Assets +3,728.584,230.754,600.353,504.673,813.332,052.343,145.693,083.473,086.552.512.502.472.46
CWIP762.61403.36238.41410.21724.32522.1585.3556.9526.290.000.000.000.00
Investments369.47159.20404.18678.09524.04148.8328.1522.13166.822,704.992,696.052,650.242,657.01
Other Assets +2,221.014,570.175,236.506,337.794,691.078,807.706,327.00720.52754.8933.6433.5532.8333.19
Total Assets7,081.679,363.4810,479.4410,930.769,752.7611,531.029,586.193,883.074,034.552,741.142,732.102,685.542,692.66

Financials of GFL Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +542.21149.11379.49731.69951.84995.611,214.23-155.7488.95402.170.360.50
Cash from Investing Activity +-471.17248.34-1,469.94-674.44589.29-955.73-608.2460.59-159.76-240.93-0.10-0.96
Cash from Financing Activity +-93.46658.70135.5253.20-1,668.06-79.39-629.2356.0185.41-184.410.000.00
Net Cash Flow-22.421,056.15-954.93110.45-126.93-39.51-23.24-39.1414.61-23.170.26-0.46
Free Cash Flow120.35-270.04-455.5073.62-64.07587.181,000.99-216.2612.99402.160.350.50
CFO/OP102%31%44%77%157%228%147%218%117%17%-8%-2%

Financials of GFL Ltd

Ratios

Working capital efficiency and return ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days101.02128.09150.71161.05182.26190.4412.0155.4215.300.0421.7822.00
Inventory Days167.28149.81104.09173.43735.50416.4940.33623.82114.40
Days Payable167.27148.79149.33181.03471.06459.41386.337,005.591,085.18
Cash Conversion Cycle101.03129.11105.48153.45446.69147.53-334.00-6,326.35-955.470.0421.7822.00
Working Capital Days-22.467.2715.7320.6466.24503.86-17.91-317.59-81.684.583,252.863,161.00
ROCE %7.56%11.43%13.43%10.71%6.37%19.22%8.31%-1.91%-1.58%-0.97%-0.31%-1.89%