Investor presentationJul 2026
Jul 2026 · PPT
Source: Nse
GSM Foils Ltd. (GSMFOILS)
SME CapIndustrials stocks · SME cap · NSE
GSM Foils Ltd., established in 2019, manufactures Blister Foils and Aluminium Pharma Foils for the pharmaceutical industry. An ISO 9001:2015 certified company, it focuses on quality, technical expertise, and modern manufacturing. It serves 110+ clients across 14+ states, with a production capacity of 17,000+ MT/Annum.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals18 Oct 2026 · screener
Latest result19 Jul, 01:14 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
34Bearishfull bear SMA stack · SMA20 -29.6% / mo · MACD + · near 52W low
Stock trend: 24
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
GSMFOILSD candles · FIT view-63.8%Latest close ₹69.95 on 2026-10-19
Bar
-9.4%
RSI
39
MACD hist
2.31
52W pos
5%
2026-10-19O ₹77.25H ₹77.25L ₹69.95C ₹69.95Vol 4.9L 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
GSMFOILSNifty India ManufacturingNifty 500
- GSMFOILS
- -74.9%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -69.3 pp
Chart stats
19 Oct 2026- From 52W high
- -76.2%
- 52W range position
- 5%
- ATR (14)
- 7.1%
- Volume vs 20D
- 2.19x
- Avg traded value
- ₹1.6 Cr
- 20D price channel
- ₹58.5 - ₹87.4
₹293.9
₹58.5 - ₹293.9
₹5
Latest completed session
20-session average
66.6% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE77
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +86.3% · PAT +99.0% YoY
Technical
Bearish34
Price trend and sector-relative-strength timing.
Valuation
Legacy model+89.4%
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
Excellent · 100/100Rev +86% YoY · PAT +99% YoY · margin expansion · +19% QoQ · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹96.9 Cr | +86.3% | +18.6% |
| EBITDA | ₹11.5 Cr | +97.8% | +22.1% |
| Operating margin | 11.9% | +69 bps | +34 bps |
| PAT | ₹7.6 Cr | +99.0% | +21.3% |
| PAT margin | 7.9% | +49 bps | +17 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 4.39
- P/B
- 1.39
- EV/EBITDA
- 4.11
- Market Cap
- 104.00Cr
Profitability
- ROE
- 37.50%
- ROCE
- 35.40%
- ROA
- 14.55%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 83.03%
- EPS 5Y
- 121.34%
- Revenue 3Y
- 36.00%
- EPS 3Y
- 36.00%
Balance Sheet
- Debt/Equity
- 0.59
- Interest Coverage
- 8.75×
- Altman Z
- 3.89
- Book Value
- 52.80
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -37.00 Cr
- EPS TTM
- 16.77
Shareholding
- Promoter Hold
- 54.38%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 96.9+18.6% vs prev
Net Profit
₹ CrLatest: 7.6+21.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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
Mixed signalsSignals are conflicting — long-term trend down. RSI 39. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~42.1% over last month) — short-term momentum negative.
- RSI(14) at 39 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 76% off 52W high · 20% 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.
Valuation & peers
U-Score 77 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 77 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation30/30
Growth22/25
Quality20/20
Balance Sheet9/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-7
Raw sum
77
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
77/100 · legacy band DEEP VALUE
Positive drivers
- Fair-value margin of safety is positive at 89.4%.
- Valuation contributes 30/30 to the score.
- Quality contributes 20/20 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Balance sheet is weaker at 9/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
4.4
PB
1.4
EV/EBITDA
4.1
ROE
37.5%
ROCE
35.4%
FCF Yield
—
Debt/Equity
0.6
MoS
+89.4%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 4.4, so peak-cycle earnings risk should be checked.
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
77
Previous: 77
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+89.4%
Previous: +89.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
76
76
76
76
76
76
76
76
77
77
77
77
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
₹141.15
+50.4% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹659.06
+89.4% MoS
PEG
0.05
Comparable companies
Peers
Business-comparable peers in Industrials — 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
QFIL
SME
Quality Foils (India) Ltd.
Packaging
match 83
43
9.7
4.8%
+60%
WATCHLIST
DKEGL
SME
D.K. Enterprises Global Ltd.
Packaging
match 56
66
9.2
18.9%
+77%
UNDERVALUED
BULKCORP
SME
Bulkcorp International Ltd.
Packaging
match 55
48
15.8
11.4%
+60%
FAIR VALUE
PURVFLEXI
SME
Purv Flexipack Ltd.
Packaging
match 55
15
17.3
3.7%
-108%
OVERVALUED
BARFLEX
SME
Barflex Polyfilms Ltd.
Packaging
match 55
15
43.8
3.0%
-10252%
OVERVALUED
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
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-17T03:42:15.615Z
Management commentary snapshot
Q1 FY27 saw robust financial growth with revenue up 86.3% YoY to INR 96.89 Cr and PAT up 98.8% YoY to INR 7.62 Cr. EBITDA margin expanded by 70 bps YoY to 11.9%, while PAT margin improved by 50 bps YoY to 7.9%.
The company delivered strong Q1 FY27 results, driven by significant revenue growth and margin expansion. Strategic capacity additions in Ahmedabad and diversification into ROPP Caps are expected to support future growth and profitability. The focus on pharmaceutical packaging aligns with strong industry tailwinds, suggesting continued positive momentum.
Growth engines
Geographic Expansion
The company plans to strengthen its footprint across India by entering new and underpenetrated regions to unlock fresh growth opportunities.
Technological Advancements
Focus on upgrading production capabilities by investing in state-of-the-art machinery and innovative technologies to enhance operational efficiency and product quality.
Product Portfolio Diversification
Committed to expanding product range within the aluminum foil segment and diversifying into Aluminium ROPP Caps, which has a higher margin profile.
Manufacturing Capacity Expansion
Planning to establish a new manufacturing facility, targeted to be operational in the first half of FY27, to enhance production capacity and support long-term growth.
Capacity and execution
Ahmedabad Manufacturing Facility (Unit 2)
Operationalized a new manufacturing facility in Ahmedabad in 2025 with an approximate leased area of 17,000 Sq Ft and 10k+ MT annual capacity, targeting 80%+ utilization by March 2027.
ROPP Caps Manufacturing Facility (Unit 3)
Diversified into Aluminium ROPP Caps through a third manufacturing facility in Mumbai, with commercial production commencing in June 2026, having a potential to generate ₹50 Cr annual revenue at peak capacity.
New Manufacturing Facility
Management is planning to establish a new manufacturing facility, targeted to be operational in the first half of FY27.
Tailwinds
Rising Pharmaceutical Exports from India
India's pharmaceutical exports reached USD 30.47 billion in FY25, registering 9.4% YoY growth, driving demand for export-quality aluminium foil packaging.
Growth in Generic Drugs & OTC Market
Rising demand for affordable healthcare and OTC medicines continues to support growth in blister and strip packaging.
Regulatory Push for Tamper-Proof, Barrier Grade Packaging
USFDA, WHO-GMP, and EU regulations mandate light/moisture/oxygen barrier packs, increasing demand for premium pharmaceutical aluminium foils.
Innovation in Drug Delivery – Rise in Blister Packaging
Global shift from bottle packaging to unit-dose formats (blisters/strips) for better compliance and hygiene, enabling precise dosing and longer shelf life.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are relevant. YoY highlights the significant growth trajectory and market expansion, while QoQ shows sequential momentum and the immediate impact of new capacities and operational efficiencies.
Sector KPIs management disclosed
Revenue from Operations
Q1 FY27 Revenue from Operations was INR 9,688.6 Lacs, an 86.3% YoY increase from INR 5,200.0 Lacs in Q1 FY26 and an 18.6% QoQ increase from INR 8,168.9 Lacs in Q4 FY26.
EBITDA
Q1 FY27 EBITDA was INR 1,151.2 Lacs, up 97.7% YoY from INR 582.3 Lacs in Q1 FY26 and up 22.1% QoQ from INR 943.0 Lacs in Q4 FY26.
EBITDA Margin
EBITDA Margin for Q1 FY27 was 11.9%, an increase of 70 bps YoY from 11.2% in Q1 FY26 and 40 bps QoQ from 11.5% in Q4 FY26.
Profit After Tax (PAT)
Q1 FY27 PAT was INR 761.8 Lacs, a 98.8% YoY increase from INR 383.2 Lacs in Q1 FY26 and a 21.3% QoQ increase from INR 627.9 Lacs in Q4 FY26.
Management forward view
Strategic MoU for ROPP Caps
GSM Foils has entered the ROPP Caps segment through a strategic MoU with AAPL Solutions Private Limited, establishing its third manufacturing facility.
Ahmedabad Unit's Operational Efficiencies
The Ahmedabad facility is expected to deliver operational efficiencies primarily through better cost optimization and operate with a slightly improved margin profile as utilization scales up.
ROPP Caps Unit Profitability
The ROPP Caps unit is expected to deliver strong growth with attractive margins, higher than the existing business, supporting long-term profitable growth.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Ahmedabad Facility Utilization | Targeting 80%+ utilization by March 2027. | Progress towards achieving the 80%+ utilization target for the Ahmedabad unit and its impact on overall margins. |
| ROPP Caps Annual Revenue Potential | Potential to generate approximately ₹50 crore in annual revenue at peak capacity. | Ramp-up of revenue contribution from the ROPP Caps unit and its impact on overall profitability, given its higher margin profile. |
| New Manufacturing Facility Commissioning | Targeted to be operational in the first half of FY27. | Timely commissioning of the new manufacturing facility and its contribution to enhanced production capacity and efficiency. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
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 50th percentile within Industrials. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
14 docs text-extracted · 5 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 · Industrials: 50th pctile, median 68 · SME: 66th pctile, median 64
Evidence depth
Financial-only
14 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
60
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸ROCE is 35.4%.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Promoter holding fell 11.6%.
- ▸Operating cash flow is negative at ₹-37 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching GSM Foils Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
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All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.