Annual reportAug 2026
Aug 2026 · Reg. 34 (1) Annual Report. 20 Jul - Annual report and audited FY26 results filed; 12th AGM on August 11, 2026.
Source: Bse
Ganges Securities Limited (GANGESSECU)
Small CapFinancial Services stocks · Small cap · NSE
Ganges Securities Limited operates in Investment Holding, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 05:59 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
30Bearishfull bear SMA stack · SMA20 -3.4% / mo · MACD − · near 52W low
Stock trend: 20
Sector RS: 45
Sector 3M: -5.7% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
GANGESSECUD candles · FIT view-12.1%Latest close ₹110.73 on 2026-10-21
Bar
-1.1%
RSI
41
MACD hist
-0.04
52W pos
12%
2026-10-21O ₹112.00H ₹114.80L ₹105.21C ₹110.73Vol 1,642 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
GANGESSECUNifty Financial ServicesNifty 500
- GANGESSECU
- -4.3%
- Nifty 500
- -6.5%
- Nifty Financial Services
- -6.9%
- Vs Nifty 500
- +2.2 pp
Chart stats
21 Oct 2026- From 52W high
- -37.8%
- 52W range position
- 10%
- ATR (14)
- 4.9%
- Volume vs 20D
- 0.78x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹103.4 - ₹121
₹178.2
₹103.3 - ₹178.2
₹5.5
Latest completed session
20-session average
30.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED23
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average52
Revenue +21.1% · PAT +18.4% YoY
Technical
Bearish30
Price trend and sector-relative-strength timing.
Valuation
Legacy model-1722.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +21% YoY · PAT +18% YoY · +157% QoQ
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹7.7 Cr | +21.1% | +156.7% |
| EBITDA | ₹0.8 Cr | -10.2% | +121.9% |
| Operating margin | 10.3% | -358 bps | +13059 bps |
| PAT | ₹1.2 Cr | +18.4% | NDF |
| PAT margin | 15.8% | -35 bps | +10617 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 39.20
- P/B
- 0.21
- EV/EBITDA
- 21.77
- Market Cap
- 113.00Cr
Profitability
- ROE
- 0.44%
- ROCE
- 0.76%
- ROA
- 0.50%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 1.00%
- EPS 5Y
- -23.00%
- Revenue 3Y
- -4.00%
- EPS 3Y
- -35.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 3.38
- Book Value
- 540.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 22.06 Cr
- EPS TTM
- 2.88
Shareholding
- Promoter Hold
- 66.64%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 19%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 36.7-5.6% vs prev
Net Profit
₹ CrLatest: 2.7-46.8% vs prev
Return on Equity
%Latest: 0.5-33.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 41.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~3.5% over last month) — short-term momentum negative.
- RSI(14) at 41 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 34% off 52W high · 7% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
33
RS percentile
Stage 4 Downtrend
1M return
-3.0%
3M return
-4.5%
6M return
-13.5%
1Y return
-31.7%
RS 1D
-1
RS 20D
0
Sector rank
#10
Industry rank
#38
Stage evidence
- Price is 7.0% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.7%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
261 observations
21 Oct 2026Value 78.75-1.35%
RS vs Nifty 50079
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation8/30
Growth2/25
Quality0/20
Balance Sheet11/15
Cash Flow4/10
Piotroski
7/9 (+5)
Penalties
-7
Raw sum
23
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
23/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Balance sheet contributes 11/15 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -1722.3%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
39.2
PB
0.2
EV/EBITDA
21.8
ROE
0.4%
ROCE
0.8%
FCF Yield
—
Debt/Equity
0.0
MoS
-1722.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
23
Previous: 23
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-1722.3%
Previous: -1722.3%
Score history
12 stored score snapshots. Latest stored move: +1 points.
22 Oct 2026
v4.3-runtime-valuation
22
22
22
22
22
22
22
22
22
22
22
23
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹187.06
+40.8% MoS
Growth-justified P/E
2.1
Growth-justified Value
₹6.08
-1722.3% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
AMJLAND
Small
Amj Land Holdings Limited
Holding Company
match 64
58
10.4
3.4%
+62%
FAIR VALUE
3PLAND
Small
3P Land Holdings Limited
Holding Company
match 63
45
24.2
1.8%
+2%
WATCHLIST
MASKINVEST
Small
Mask Investments Limited
Holding Company
match 55
36
486.0
0.1%
-1740%
WATCHLIST
SMARTLINK
Small
Smartlink Holdings Limited
Holding Company
match 51
38
13.4
6.5%
-10%
WATCHLIST
ELCIDIN
Small
EL CID Investments Limited
Holding Company
match 51
36
20.3
1.2%
-49%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Ganges Securities Limited operates in Investment Holding, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
67Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 66th percentile within Financial Services. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Financial Services: 66th pctile, median 62 · Small: 56th pctile, median 66
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
50
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 66.6%.
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸ROCE is low at 0.8%.
- ▸ROE is low at 0.4%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 342.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Ganges Securities Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 27 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 May
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 15 May - FY2026 audited standalone and consolidated results approved; no dividend; M Parasrampuria & Co appointed internal auditor for FY27.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Directorate 14 May - Board approved FY26 audited standalone and consolidated results; appointed internal auditor for FY27, no dividend.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.