52-week range
Price risk
Balance sheet & cash
What is the price implying?
At a P/E of 141.1x, the price would imply about 40.1%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Fewer than six years of annual earnings are available, which is too little to measure delivered growth.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Finance The market-wide Expectations lists
What changed?
- Jun '26EPS (TTM) turned positive.
- Jun '26Moved into the top quartile of Finance on ROCE (from the 3rd quartile).
- Jun '26Dividend payout cut from 55% to 7% of profit.
- May '26Regained the 2025-11 peak, 4 months after the low.
- Apr '26Volume reached 126.9x its 50-day median on 2026-04-27; price +0.3% that day.
- Mar '26Slipped to the bottom quartile of Finance on operating margin (from the 2nd quartile).
- Jan '26Fell 26% from the Nov 2025 peak to the Jan 2026 low.
- Jan '26Volume reached 38.6x its 50-day median on 2026-01-28; price +1.0% that day.
Show 4 earlier events
- Dec '25Moved into the 2nd quartile of Finance on operating margin (from the bottom quartile).
- Nov '25Regained the 2025-09 peak, 1 month after the low.
- Oct '25Fell 30% from the Sep 2025 peak to the Oct 2025 low.
- Oct '25Volume reached 103.0x its 50-day median on 2025-10-13; price +15.8% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Are profits backed by cash?
3 of 5 checks are within range, 1 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.
Other income reliance2%Within range
Other income as a share of pre-tax profit (trailing twelve months): 1.8%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate33%Within range
Median quarterly effective tax rate over about 2.5 years: 33.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion-1.16xBeyond threshold
Operating cash flow divided by net profit over the last three fiscal years: -1.16x (cash from operations ₹-78 cr, net profit ₹67 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow2 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history—Not enough data
Not enough reported data to compute this.
Capital work in progress0% of fixed assetsWithin range
Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days—Not enough data
Not enough reported data to compute this.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Since Jun 2025, FIIs added 2.0 pts; promoters trimmed 1.6 pts.
- The number of shareholders rose from 1,186 to 2,842 (+140%) between Jun 2025 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-30.5% (2025-09 peak to 2025-10 low, recovered 2025-11)
-26.1% (2025-11 peak to 2026-01 low, recovered 2026-05)
Where does it rank among Finance peers?
Each cell is the company's percentile rank among its Finance peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Finance sector page Watch it move against Finance in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| NETWORK PEOPLE SERVICES TECH (NPST) | Technology Services | 67% | revenue, promoter holding |
| ROTO PUMPS (ROTO) | Producer Manufacturing | 54% | revenue, debt/equity |
| IRIS CLOTHINGS (IRISDOREME) | Consumer Non-Durables | 52% | revenue, promoter holding |
| SHRI AHIMSA NATURALS (SHRIAHIMSA) | Consumer Non-Durables | 50% | revenue, debt/equity |
| SIRCA PAINTS INDIA (SIRCA) | Process Industries | 49% | debt/equity, market cap |
| AGI INFRA (AGIIL) | Finance | 31% | operating margin, revenue |
| MODIS NAVNIRMAN (MODIS) | Finance | 31% | revenue, promoter holding |
| MAN INFRACONSTRUCTION (MANINFRA) | Finance | 24% | promoter holding, operating margin |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like GRETEX CORPORATE SERVICES LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −27% to +28% vs the market, against +1% for all non-financial companies in the same months.
- The gap against the base rate (−10.6%, 80% range −21.0% to +3.6%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 31 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| AJANTPHARM Health Technology |
Apr 2020 | 34x | 24% | +50% | −2% | −23% |
| DHANUKA Process Industries |
May 2020 | 24x | 23% | +53% | 0% | −7% |
| FDC Health Technology |
Apr 2020 | 25x | 17% | +42% | −6% | −22% |
| NAVINFLUOR Process Industries |
Apr 2020 | 52x | 21% | +135% | −3% | +37% |
| SAREGAMA Consumer Services |
May 2021 | 96x | 15% | +857% | 0% | +55% |
Show the other 3 matches
How reliable is this?
Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, P/E and P/S. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
Monthly history (14 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 65.6x | ₹195 cr | 17.2% | 17.0% | 0.1x |
| 2026-09 | 57.8x | ₹195 cr | 17.2% | 17.0% | 0.1x |
| 2026-08 | 68.0x | ₹179 cr | 12.1% | 17.0% | 0.1x |
| 2026-07 | 63.6x | ₹179 cr | 12.1% | 17.0% | 0.1x |
| 2026-06 | 52.7x | ₹179 cr | 12.1% | 17.0% | 0.1x |
| 2026-05 | — | ₹204 cr | -0.9% | 3.0% | 0.1x |
| 2026-04 | — | ₹204 cr | -0.9% | 3.0% | 0.1x |
| 2026-03 | — | ₹204 cr | -0.9% | 3.0% | 0.1x |
| 2026-02 | — | ₹228 cr | -2.3% | 3.0% | 0.1x |
| 2026-01 | — | ₹228 cr | -2.3% | 3.0% | 0.1x |
| 2025-12 | — | ₹228 cr | -2.3% | 3.0% | 0.1x |
| 2025-11 | — | ₹242 cr | -0.8% | 3.0% | 0.1x |
| 2025-10 | — | ₹242 cr | -0.8% | 3.0% | 0.1x |
| 2025-09 | — | ₹242 cr | -0.8% | 3.0% | 0.1x |