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    Consumer Defensive

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    Packaged Foods
Gujarat Ambuja Exports Limited

Gujarat Ambuja Exports Limited

GAEL.NS
Gujarat Ambuja Exports LimitedIN flagNational Stock Exchange of India
159.30
INR
-2.02
- -
73.07BMarket Cap
Gujarat Ambuja Exports Limited
GAEL.NS
(National Stock Exchange of India)

Recent

price

159.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
35.3
38.3
54.48
55.66
46.4
49.32
60.28
72.5
85.8
82.49
102.23
101.04
106.26
106.82
100.64
- -
125.05
Revenue per Share
1.68
0.9
2.04
2.01
1.75
1.81
2.87
3.92
4.32
3.18
7.37
10.37
7.2
7.54
5.44
- -
6.64
Basic EPS, GAAP
-0.18
-2.36
3.76
-4.07
2.28
0.31
-2.08
0.16
10.28
5.25
6.48
12.99
5.26
4.64
7.43
- -
- -
Free Cash Flow per Basic Share
0.17
0.17
0.23
0.2
0.24
0.19
- -
0.2
0.22
0.5
- -
0.3
0.33
0.35
0.35
- -
- -
Dividend per Share
6.19
6.81
8.4
10
11.27
12.98
11.72
17.78
21.83
24.41
31.81
41.88
48.75
56.55
61.55
- -
1
Book Value per Share
9.16
10.04
11.82
13.64
15.03
16.61
15.45
22.27
26.32
28.9
36.11
46.18
53.05
60.46
65.49
- -
71.91
Tangible Book Value per Share
553
553
553
553
553
554
552
459
459
459
459
459
459
459
458
- -
458
Basic Weighted Avg Shares
19,534
21,194
30,150
30,804
25,676
27,302
33,253
33,262
39,365
37,845
46,880
46,339
48,742
48,996
46,126
57,286
57,286
Sales/Revenue/Turnover
6.53
4.34
5.36
5.41
14.86
4.7
6.05
7.31
7.16
5.31
9.24
12.77
7.91
6.6
5.97
5.74
5.74
Operating Margin (%)
292
299
367
474
610
662
714
763
956
1,008
1,034
975
947
1,211
1,258
1,377
1,377
Depreciation Expense
932
499
1,128
1,114
966
1,004
1,586
1,799
1,982
1,458
3,381
4,754
3,301
3,459
2,493
3,043
3,043
Net Income, GAAP
18.27
19.9
25.48
18.51
21.3
15.89
20.47
22.52
26.49
19.58
25.27
25.5
25.17
22.72
26.89
- -
74.51
Effective Tax Rate (%)
4.77
2.35
3.74
3.62
3.76
3.68
4.77
5.41
5.03
3.85
7.21
10.26
6.77
7.06
5.41
5.31
5.31
Profit Margin (%)
1,523
796
1,475
1,870
2,176
2,551
814
2,112
3,915
5,480
8,241
10,773
12,720
14,457
14,802
15,185
15,185
Working Capital
38
26
- -
- -
249
217
145
72
8
116
102
86
52
30
98
389
389
LT Debt
5,074
5,562
6,559
7,563
8,330
9,206
8,531
10,224
12,082
13,265
16,566
21,183
24,340
27,740
30,023
32,950
32,950
Total Equity
15.6
8.94
13.7
13.57
26.08
9.01
11.69
11.92
13.32
10.98
19.46
20.87
11.39
8.87
6.82
- -
5.34
Return on Invested Capital (%)
20.34
9.56
17.78
15.64
10.69
10.6
14.84
13.87
15.47
11.97
23.46
24.97
14.48
13.57
8.93
- -
72.92
Return on Capital (%)
30.49
13.87
26.79
21.88
16.42
14.97
23.23
24.6
21.81
13.75
26.22
28.14
15.88
14.32
9.21
21.23
21.23
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
2,566
- -
4,021
LT Borrowings
265
- -
360
LT Finance Leases
52
- -
29
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
459
- -
459
Market Capitalization
48,412
63,029
62,253

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
19,746
- -
22,126
Cash, Cash Equivalents & STI
7,747
- -
8,738
Accounts Receivable, Net
2,971
- -
4,360
Inventories
7,520
- -
8,036
Total Current Liabilities
5,285
- -
6,940
Payables & Accruals
- -
- -
- -
ST Debt
2,566
- -
4,021
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.01%
14.94%
9.75%
Free Cash Flow
553.74%
11.21%
-33.02%
Net Income, GAAP
19.59%
1.79%
22.04%
Sales/Revenue/Turnover
8.31%
4.58%
24.2%
Total Cash Common Dividend
- -
- -
-28.54%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11,630
11,153
13,018
13,194
48,996
2025
10,904
11,246
11,309
12,666
46,126
2026
12,912
14,867
14,842
14,665
57,286

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.55
1.8
2.2
- -
7.54
2025
1.67
1.51
1.56
0.7
5.44
2026
1.42
0.83
1.44
2.95
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.35
2025
- -
- -
- -
- -
0.35
2026
- -
- -
- -
- -
- -
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Business
Gujarat Ambuja Exports Limited (GAEL), founded in 1991 and headquartered in Ahmedabad, Gujarat, India, is a diversified agro-processing company primarily engaged in maize processing, agro processing, cotton yarn manufacturing, and renewable energy generation. The company manufactures and exports a wide range of products, including corn starch derivatives such as liquid glucose, sorbitol, dextrose anhydrous, dextrose monohydrate, maltodextrin, and high fructose corn syrup from its maize processing division with a capacity of approximately 5,000 TPD across 12 facilities in Gujarat, Madhya Pradesh, Maharashtra, Uttarakhand, Karnataka, and West Bengal; soya derivatives including soya lecithin, soya flour, soya meal, and texturised vegetable protein, alongside refined edible oils (primarily soybean oil), de-oiled cake, vanaspati ghee, and wheat products from its agro processing division with soybean crushing capacity of 4,500 TPD and refining capacity of 1,200 TPD; and cotton yarn from its spinning plant in Himmatnagar, Gujarat, with 65,000 spindles. GAEL serves diverse end-user industries such as food and beverages, pharmaceuticals, animal feed, FMCG, paper, textiles, paints, and chemicals, with a clientele including Dabur, Mondelez, Nestle, Colgate, ITC, HUL, and Cargill India; its revenue is geographically diversified with about 69% domestic sales in India and 31% exports to over 100 countries, particularly Southeast Asia. Recent developments include the commissioning of a 1,200 TPD greenfield maize processing plant in Sitarganj, Uttarakhand, and another in Malda, West Bengal, increasing total maize capacity by around 50% over two years; completion of acquisition of 25% equity in Maiz Citchem Limited; launch of a 100 TPD sorbitol unit in Hubli, Karnataka, and a 120 TPD liquid glucose plant in Malda; issuance of bonus shares in a 1:1 ratio in 2024; and planned capex of approximately ₹600 crore for speciality chemicals and fermentation-based products through a wholly owned subsidiary, largely funded by internal accruals, while maintaining a net debt-free status.