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GTL INFRASTRUCTURE LIMITED (GTLINFRA)

Industrial Services · Engineering & Construction · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.23 / 100
Profitability 12Growth 34
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.23 / 100
Price 30FII/DII 15
Compare withLARSEN AND TOUBROJSW INFRASTRUCTURERAIL VIKAS NIGAM

Share price

Closing priceAdjusted for splits and bonus issues.

₹1.08 latest close · −20.0% over the last 90 sessions

₹1₹1Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1₹1Jul 3Sep 4Nov 9

₹1.08 month-end · −19.4% over 12 months

₹1₹1₹1Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1₹1₹1Nov '25May '26Nov '26

₹1.08 month-end · +2.9% over 3 years

₹1₹2₹3Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1₹2₹3Nov '23May '25Nov '26

₹1.08 month-end · +2.9% since Jan '19

₹0₹1₹2₹3Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹1₹2₹3Jan '19Dec '22Nov '26

52-week range ₹0.96 to ₹1.67 · 1-year volatility 46.7%

How rough has the ride been?

Maximum drawdown-86.2%recovered 2021-06
1-year volatility46.7%annualised
Beta vs sector index0.773-year daily, correlation 0.35
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−86.2% 0%−25%−50%−75%2020202220242026−86.2%
Largest drawdowns

-86.2% (2019-01 peak to 2020-03 low, recovered 2021-06)

-83.3% (2021-07 peak to 2023-03 low, recovered 2024-07)

-76.5% (2024-07 peak to 2026-03 low, not yet recovered)

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services 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).

Where it ranks today

  • ROCE12th▲ 3 pts vs a year ago
  • Revenue growth26th▼ 3 pts vs a year ago
  • Cash cycle ↓77th▲ 3 pts vs a year ago
  • 12M momentum57th▲ 27 pts vs a year ago

Rank history

ROCE
Revenue growth
Cash cycle ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank

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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1.08
ROCE
4.0%
Market Cap
₹1383 cr
Revenue (TTM)
₹952 cr
P/S
1.5x
Promoter Holding
3.3%
12M Momentum
-19.4%

52-week range

₹0.96₹1.67
17% of the way from its 52-week low to its high

Price risk

1Y volatility
46.7%
Beta vs sector
1-year daily
1.02

Balance sheet & cash

Interest cover
operating profit ÷ interest
0.3x
Share count, 1Y
unchanged

Are profits backed by cash?

2 of 3checks within range1 near a threshold
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (25 vs 25). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% 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.

Tap a check to see how it is measured

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.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs trimmed 14.0 pts; FIIs added 0.7 pts.
  • The number of shareholders rose from 11.7 lakh to 26.8 lakh (+129%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters3.3%3.3%0.0 pts
FIIs0.1%0.8%+0.7 pts
DIIs45.2%31.2%-14.0 pts
Public and others51.4%64.8%+13.3 pts

Number of shareholders

26.8 lakhshareholders+129% since Sep '23
11.7L17.4L23.1L28.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 11.7 lakh
Dec '23: 12.3 lakh
Mar '24: 14.6 lakh
Jun '24: 17.7 lakh
Sep '24: 27.0 lakh
Dec '24: 27.8 lakh
Mar '25: 28.0 lakh
Jun '25: 28.7 lakh
Sep '25: 28.2 lakh
Dec '25: 27.5 lakh
Mar '26: 27.1 lakh
Jun '26: 26.8 lakh
 11.7L17.4L23.1L28.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 11.7 lakh
Dec '23: 12.3 lakh
Mar '24: 14.6 lakh
Jun '24: 17.7 lakh
Sep '24: 27.0 lakh
Dec '24: 27.8 lakh
Mar '25: 28.0 lakh
Jun '25: 28.7 lakh
Sep '25: 28.2 lakh
Dec '25: 27.5 lakh
Mar '26: 27.1 lakh
Jun '26: 26.8 lakh

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.

This quarter's smart-money board

What happened next to similar setups

−8.3%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like GTL INFRASTRUCTURE LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −27% to +36% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−5.4%, 80% range −12.9% to +4.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NDLVENTURE · Oct 2022: −68.0% vs market
KRITI · Jul 2025: −62.4% vs market
DCAL · Dec 2021: −54.6% vs market
CHEMFAB · Aug 2025: −49.1% vs market
SHIVAMAUTO · Sep 2025: −46.4% vs market
V2RETAIL · Dec 2021: −38.7% vs market
GREENPOWER · May 2020: −38.3% vs market
ASIANHOTNR · Apr 2020: −38.2% vs market
FORCEMOT · Jul 2021: −35.6% vs market
CINELINE · Dec 2024: −33.7% vs market
DCW · Sep 2025: −33.2% vs market
VIPULLTD · Apr 2021: −29.2% vs market
WALCHANNAG · Sep 2020: −27.7% vs market
REPRO · Sep 2025: −25.8% vs market
TIRUMALCHM · May 2025: −19.6% vs market
VALIANTORG · Aug 2025: −19.5% vs market
PRSMJOHNSN · May 2025: −18.6% vs market
EXXARO · May 2025: −17.8% vs market
RANEHOLDIN · Apr 2021: −15.3% vs market
INDOCO · Aug 2025: −15.3% vs market
ACLGATI · Jul 2022: −14.4% vs market
ONMOBILE · May 2025: −13.7% vs market
RAMANEWS · Sep 2020: −12.4% vs market
ZUARIIND · May 2025: −11.7% vs market
SCHAND · Apr 2021: −8.5% vs market
WOCKPHARMA · Oct 2020: −8.2% vs market
SCHNEIDER · Oct 2020: −6.6% vs market
JAYNECOIND · Sep 2023: −2.7% vs market
NIPPOBATRY · Jun 2023: +1.3% vs market
BOMDYEING · Sep 2021: +2.4% vs market
KOLTEPATIL · Jun 2024: +4.9% vs market
RTNPOWER · Mar 2020: +5.1% vs market
SOLARA · Jun 2023: +5.8% vs market
ASIANTILES · Jan 2025: +7.4% vs market
MANGLMCEM · Apr 2020: +11.3% vs market
BALAJITELE · Mar 2025: +21.0% vs market
EMBDL · Apr 2023: +23.3% vs market
DREDGECORP · May 2025: +39.7% vs market
SHALPAINTS · Jun 2021: +52.6% vs market
WINDMACHIN · Jun 2020: +53.6% vs market
SMSPHARMA · Jun 2023: +67.5% vs market
DWARKESH · May 2020: +73.7% vs market
KUANTUM · Dec 2021: +78.8% vs market
ROSSELLIND · Apr 2020: +81.3% vs market
ORIENTHOT · Apr 2021: +107.9% vs market
SHILPAMED · Dec 2023: +110.0% vs market
GMDCLTD · Jul 2021: +114.4% vs market
SANGHVIMOV · Apr 2022: +115.2% vs market
JUBLPHARMA · Oct 2023: +132.2% vs market
CENTUM · Aug 2022: +190.9% vs market
Similar setups −8.3%All companies −2.9%← worse than the marketbetter than the market →

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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
−8.3%
All companies' median
−2.9%
Beat the market
44% vs 47%

50 past situations · 50 companies · 28 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KOLTEPATIL
Finance		 Jun 2024 —2% +28%−24% +5%
DCW
Process Industries		 Sep 2025 —1% −28%−38% −33%
ACLGATI
Transportation		 Jul 2022 203x2% −11%−33% −14%
ASIANTILES
Producer Manufacturing		 Jan 2025 —1% −14%−35% +7%
SHILPAMED
Health Technology		 Dec 2023 —1% +19%−14% +110%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JAYNECOIND
Producer Manufacturing		 Sep 2023 —3% +28%−15% −3%
REPRO
Commercial Services		 Sep 2025 —2% −27%−32% −26%
SMSPHARMA
Health Technology		 Jun 2023 —4% +12%−13% +68%
How reliable is this?

Matched on P/S, ROCE, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, 12-month momentum and drawdown from 12-month high. Not used (unavailable for this company): P/E, operating margin and debt/equity. This company is loss-making, so it was only compared with loss-making companies. 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.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to GTL INFRASTRUCTURE LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What changed?

30 events since Aug '19

  1. MayPriceVolume reached 8.5x its 50-day median on 2026-05-07; price +15.6% that day.
  2. MarPriceFell 76% from the Jul 2024 peak to the Mar 2026 low.
  3. FebPriceVolume reached 12.9x its 50-day median on 2026-02-04; price +18.8% that day.
  4. SepPriceVolume reached 5.3x its 50-day median on 2025-09-18; price +5.2% that day.
  5. JunPriceVolume reached 21.3x its 50-day median on 2025-06-12; price +13.3% that day.
  6. DecInstitutionsFII + DII holding fell 6.2 pts over 2 quarters to 37.1%.
  7. JulPriceRegained the 2021-07 peak, 16 months after the low.
  8. JulPriceVolume reached 20.3x its 50-day median on 2024-07-26; price -5.1% that day.
Show 22 earlier events
  1. JunPriceVolume reached 12.1x its 50-day median on 2024-06-13; price -5.1% that day.
  2. FebPriceVolume reached 10.4x its 50-day median on 2024-02-09; price +4.3% that day.
  3. DecPriceVolume reached 9.5x its 50-day median on 2023-12-20; price -3.2% that day.
  4. SepPriceVolume reached 27.5x its 50-day median on 2023-09-12; price -8.7% that day.
  5. JunPeer rankSlipped to the bottom quartile of Industrial Services on ROCE (from the 3rd quartile).
  6. MayPriceVolume reached 7.8x its 50-day median on 2023-05-11; price +12.5% that day.
  7. MarPriceFell 83% from the Jul 2021 peak to the Mar 2023 low.
  8. DecPriceVolume reached 5.2x its 50-day median on 2022-12-14; price +12.0% that day.
  9. JanPriceVolume reached 15.7x its 50-day median on 2022-01-07; price -4.2% that day.
  10. DecPriceVolume reached 11.4x its 50-day median on 2021-12-17; price +2.6% that day.
  11. SepPriceVolume reached 24.5x its 50-day median on 2021-09-06; price +3.1% that day.
  12. JunPriceRegained the 2019-01 peak, 15 months after the low.
  13. JunPeer rankMoved into the 3rd quartile of Industrial Services on ROCE (from the bottom quartile).
  14. JunPriceVolume reached 10.9x its 50-day median on 2021-06-18; price +3.4% that day.
  15. JanPriceVolume reached 12.4x its 50-day median on 2021-01-07; price +0.0% that day.
  16. DecPriceVolume reached 43.9x its 50-day median on 2020-12-09; price +9.1% that day.
  17. JulPriceVolume reached 1219.2x its 50-day median on 2020-07-13; price -5.3% that day.
  18. JunPriceVolume reached 7.6x its 50-day median on 2020-06-10; price -7.1% that day.
  19. MarPriceFell 86% from the Jan 2019 peak to the Mar 2020 low.
  20. FebPriceVolume reached 6.8x its 50-day median on 2020-02-20; price +14.3% that day.
  21. DecPriceVolume reached 12.2x its 50-day median on 2019-12-17; price +0.0% that day.
  22. AugPriceVolume reached 8.1x its 50-day median on 2019-08-22; price -9.1% 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

Monthly history95 months · 2019-01 to 2026-11
MonthRevenue (TTM)ROCE
2026-11₹952 cr4.0%
2026-10₹952 cr4.0%
2026-09₹952 cr4.0%
2026-08₹952 cr4.0%
2026-07₹952 cr4.0%
2026-06₹952 cr4.0%
2026-05₹952 cr4.0%
2026-04₹952 cr4.0%
2026-03₹952 cr4.0%
2026-02₹952 cr4.0%
2026-01₹952 cr4.0%
2025-12₹952 cr4.0%
2025-11₹952 cr4.0%
2025-10₹952 cr4.0%
2025-09₹952 cr4.0%
2025-08₹952 cr4.0%
2025-07₹952 cr4.0%
2025-06₹952 cr4.0%
2025-05₹952 cr4.0%
2025-04₹952 cr4.0%
2025-03₹952 cr4.0%
2025-02₹952 cr4.0%
2025-01₹952 cr4.0%
2024-12₹952 cr4.0%
2024-11₹952 cr4.0%
2024-10₹952 cr4.0%
2024-09₹952 cr4.0%
2024-08₹952 cr4.0%
2024-07₹952 cr4.0%
2024-06₹952 cr4.0%
2024-05₹952 cr4.0%
2024-04₹952 cr4.0%
2024-03₹952 cr4.0%
2024-02₹952 cr4.0%
2024-01₹952 cr4.0%
2023-12₹952 cr4.0%
2023-11₹952 cr4.0%
2023-10₹952 cr4.0%
2023-09₹952 cr4.0%
2023-08₹952 cr4.0%
2023-07₹952 cr4.0%
2023-06₹952 cr4.0%
2023-05₹952 cr4.0%
2023-04₹952 cr4.0%
2023-03₹952 cr4.0%
2023-02₹952 cr4.0%
2023-01₹952 cr4.0%
2022-12₹952 cr4.0%
2022-11₹952 cr4.0%
2022-10₹952 cr4.0%
2022-09₹952 cr4.0%
2022-08₹952 cr4.0%
2022-07₹952 cr4.0%
2022-06₹952 cr4.0%
2022-05₹952 cr4.0%
2022-04₹952 cr4.0%
2022-03₹952 cr4.0%
2022-02₹952 cr4.0%
2022-01₹952 cr4.0%
2021-12₹952 cr4.0%
2021-11₹952 cr4.0%
2021-10₹952 cr4.0%
2021-09₹952 cr4.0%
2021-08₹952 cr4.0%
2021-07₹952 cr4.0%
2021-06₹952 cr4.0%
2021-05₹952 cr4.0%
2021-04₹952 cr4.0%
2021-03₹952 cr4.0%
2021-02₹952 cr4.0%
2021-01₹952 cr4.0%
2020-12₹952 cr4.0%
2020-11₹952 cr4.0%
2020-10₹952 cr4.0%
2020-09₹952 cr4.0%
2020-08₹952 cr4.0%
2020-07₹952 cr4.0%
2020-06₹952 cr4.0%
2020-05₹952 cr4.0%
2020-04₹952 cr4.0%
2020-03₹952 cr4.0%
2020-02₹952 cr4.0%
2020-01₹952 cr4.0%
2019-12₹952 cr4.0%
2019-11₹952 cr4.0%
2019-10₹952 cr4.0%
2019-09₹952 cr4.0%
2019-08₹952 cr4.0%
2019-07₹952 cr4.0%
2019-06₹952 cr4.0%
2019-05₹952 cr4.0%
2019-04₹952 cr4.0%
2019-03₹952 cr4.0%
2019-02₹952 cr4.0%
2019-01₹952 cr4.0%

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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