Suyog Gurbaxani Funicular Ropeways Limited

Suyog Gurbaxani Funicular Ropeways Limited

BBSE:SGFRL
88.55
INR
+8.50
(+10.62%)
2.40BMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
3.18
5.31
1.8
3.24
7.24
25.39
21.32
20.03
- -
Basic EPS, GAAP
-1.4
-0.76
-3.19
-2.79
0.13
2.25
3.5
2.39
- -
Free Cash Flow per Basic Share
-1.49
2.21
-2.42
1.49
0.3
-5.57
1.43
2.52
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
6.76
6
2.81
3.97
4.1
6.35
9.84
16.39
16.39
Tangible Book Value per Share
-29.87
-28.29
-28.9
-25.15
-22.43
-17.6
-11.52
-78.33
-78.33
Basic Weighted Avg Shares
25
25
25
25
25
25
25
25
25
Sales/Revenue/Turnover
79
132
45
81
180
631
530
498
- -
Operating Margin (%)
-20.19
0.36
-130.97
-31.05
26.02
33.84
20.54
33.4
- -
Depreciation Expense
49
67
67
66
66
66
66
79
- -
Net Income, GAAP
-35
-19
-79
-69
3
56
87
59
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
28.76
- -
37.36
- -
Profit Margin (%)
-44.06
-14.26
-177.33
-86.14
1.74
8.85
16.4
11.94
- -
Working Capital
-54
-45
-19
-18
17
-79
-224
-58
-58
LT Debt
671
637
717
625
605
797
799
1,699
1,699
Total Equity
168
149
70
99
102
158
245
689
689
Return on Invested Capital (%)
- -
- -
- -
- -
- -
17.01
- -
5.96
- -
Return on Capital (%)
- -
- -
- -
- -
- -
11.69
- -
5.57
- -
Return on Common Equity (%)
- -
-11.86
-72.42
-82.25
3.13
43.02
43.19
18.24
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
62
- -
- -
LT Borrowings
799
16
1,699
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25
25
25
Market Capitalization
3,232
2,786
2,403

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
115
17
139
Cash, Cash Equivalents & STI
2
7
5
Accounts Receivable, Net
9
- -
13
Inventories
10
- -
7
Total Current Liabilities
339
3
197
Payables & Accruals
- -
- -
- -
ST Debt
62
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
67.18%
181.5%
Free Cash Flow
- -
-448.11%
76.35%
Net Income, GAAP
- -
317.24%
-31.57%
Sales/Revenue/Turnover
- -
86.41%
-6.07%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
631
2025
- -
- -
530
2026
- -
- -
498

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
2.25
2025
- -
- -
3.5
2026
- -
- -
2.39

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

CEO
Rajkumar Dwarkadas Gurbaxani
Full Time Employees
214
Sector
Industrial services
Industry
Engineering & construction
Address
18, Suyog Industrial Estate, 1st Floor, LBS Marg, Vikhroli (West) Mumbai MH India 400083
IPO Date
Nov 16, 2021
Website
sgfrl.com
Business
Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) is an India-based infrastructure development company specializing in the design, engineering, procurement, financing, construction, operation, and maintenance of funicular ropeway systems for steep terrains, primarily operating under a build-operate-transfer (BOT) model through public-private partnerships. The company offers core services including funicular ropeway transportation at the Saptashrungi Gad Temple in Vani, Nashik, Maharashtra; ancillary facilities such as a shopping complex with over 50 shops providing goods and food options; parking for more than 150 vehicles; and hospitality solutions comprising a 28-room hotel with dormitories, a multi-cuisine restaurant, and a coffee shop, all integrated within a 10-acre project site accessible until 2034. SGFRL serves pilgrims, tourists, and visitors to hilly pilgrimage sites, enhancing connectivity and providing end-to-end transportation and support services in the highways and railtracks segment of the transportation industry. Founded on February 11, 2010, and headquartered at 18, Suyog Industrial Estate, 1st Floor, LBS Marg, Vikhroli West, Mumbai, the company listed on the BSE SME platform in November 2021 via an initial public offering of 6.555 million equity shares. In recent developments, SGFRL reported revenue of Rs 53 crore and EBITDA of Rs 17.50 crore for the fiscal year ended March 31, 2025, reflecting a decline from Rs 63.11 crore and Rs 15.16 crore in fiscal 2024 amid ongoing operations, while maintaining focus on safety certifications and project extensions granted by Maharashtra's Public Works Department. The company continues to prioritize sustainable transportation expansions without notable acquisitions, partnerships, or new product launches in the past 1-2 years, as evidenced by board meetings for financial results in May and November 2025.