Gloster Limited (GLOSTERLTD)
₹536.50 +0.07% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Gloster's revenue was ₹427 Cr (+39.8% year on year, +12.9% on the previous quarter), and net profit ₹-2.3 Cr (against a profit a year earlier); the operating margin was 8.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹427 | +39.8% | +12.9% |
| Operating profit | ₹37.2 | +23.7% | -8.6% |
| Net profit | ₹-2.3 | to loss | to loss |
| EPS (₹) | -2.13 | to loss | to loss |
| Operating margin | 8.7% | — | — |
GLOSTERLTD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 89.17% of the GLOSTERLTD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 78.93%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.1 times its average, well below normal.
Delivery in the last 5 sessions: 96.6% · 94.7% · 72.1% · 32.9% · 89.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Gloster Limited announced that Acuite Ratings & Research has reaffirmed its long-term credit rating of 'ACUITE A+' and short-term rating of 'ACUITE A1' with a 'Stable' outlook on its Rs 295.00 Cr bank facilities. Additionally, Acuite has assigned the same ratings (ACUITE A+/Stable and ACUITE A1) to fresh bank facilities of Rs 50.00 Cr. Total rated bank facilities now aggregate to Rs 345.00 Cr, which closely matches the company's existing debt profile of Rs 343 Cr. The reaffirmation indicates credit stability and steady banking support for the company's ongoing operations and capex.
- Reaffirmed long-term rating of 'ACUITE A+' with 'Stable' outlook on Rs 295.00 Cr bank facilities
- Reaffirmed short-term rating of 'ACUITE A1' on Rs 295.00 Cr bank facilities
- Assigned new long-term rating of 'ACUITE A+' (Stable) and short-term 'ACUITE A1' on Rs 50.00 Cr bank facilities
- Total rated bank facilities expand to Rs 345.00 Cr compared to existing reported debt of Rs 343 Cr
Gloster Limited announced the completion and results of its Postal Ballot remote e-voting on September 18, 2026. Shareholders approved an ordinary resolution to appoint Smt. Meeta Khare as Non-Executive Non-Independent Director. A total of 9,203,280 votes were cast, representing 84.1% of outstanding shares. The resolution passed overwhelmingly, receiving 9,203,066 votes (99.9977%) in favor and only 214 votes against.
- Resolution to appoint Smt. Meeta Khare approved with 99.9977% votes in favor
- Overall voter turnout was 84.10% (9,203,280 total votes polled out of 10,943,260 shares)
- Promoter group polled 7,848,217 votes (100% in favor), representing 98.67% of promoter holdings
- Public institutional voting saw 1,326,386 votes cast (100% in favor), while public non-institutional voted 99.25% in favor
Gloster Limited has resubmitted its corporate disclosure following an exchange query to include the resignation letter of Shri Yogendra Singh (DIN: 10229584). Shri Singh ceased to be a Non-Executive Non-Independent Director effective August 07, 2026, upon the completion of his term as LIC Nominee Director. In his place, Smt. Meeta Khare (DIN: 11846965), former Executive Director at LIC, has been appointed as an Additional Non-Executive Non-Independent Director. This is a routine rotation of institutional representation on the board and has no impact on operations or financials.
- Resignation of Nominee Director Shri Yogendra Singh effective August 07, 2026, due to completion of his LIC nomination term.
- Appointment of Smt. Meeta Khare (DIN: 11846965) as Additional Non-Executive Non-Independent Director representing LIC w.e.f. August 07, 2026.
- Filing was resubmitted with the resignation letter following a clarification query from BSE received on August 20, 2026.
Gloster Limited has dispatched a postal ballot notice to shareholders seeking approval for the appointment of Smt. Meeta Khare as a Non-Executive Non-Independent Director. Smt. Khare represents Life Insurance Corporation of India (LIC) following the resignation of previous LIC nominee Shri Yogendra Singh effective August 7, 2026. Remote e-voting is scheduled from August 20, 2026, to September 18, 2026, based on the record cut-off date of August 14, 2026. This represents a routine administrative replacement of an institutional nominee on the board with no operational impact.
- Postal ballot initiated to approve appointment of Smt. Meeta Khare as Non-Executive Non-Independent Director
- Appointment fills vacancy created by resignation of LIC nominee Shri Yogendra Singh on August 7, 2026
- E-voting window open from 9:00 AM IST on August 20, 2026, to 5:00 PM IST on September 18, 2026
- Cut-off date for member voting eligibility established as Friday, August 14, 2026
Gloster Limited concluded its 104th Annual General Meeting on August 7, 2026, where shareholders approved a final dividend of 200% (Rs 20 per share). The total dividend payout of approximately Rs 21.88 Cr is notable as it exceeds the company's FY26 PAT of Rs 18.14 Cr, indicating a distribution from accumulated reserves. Shareholders also ratified the appointment of M/s Singhi & Co. as Statutory Auditors and the reappointment of Chairman Hemant Bangur. All resolutions were passed with a near-unanimous majority of over 99.99%.
- Approved a final dividend of 200%, equivalent to Rs 20 per equity share of Rs 10 face value.
- Total dividend payout of ~Rs 21.88 Cr exceeds the FY26 Net Profit of Rs 18.14 Cr.
- Shareholders passed the adoption of FY26 Audited Financial Statements with 9,199,299 votes in favour.
- Reappointed Shri Hemant Bangur as Director and appointed M/s Singhi & Co. as Statutory Auditors.
- The meeting saw participation from 42 shareholders via video conferencing, representing 84.06% of outstanding shares.
Gloster Limited has announced a change in its board composition representing its institutional shareholder, Life Insurance Corporation of India (LIC). Mr. Yogendra Singh resigned as a Non-Executive Non-Independent Director effective August 7, 2026, following the conclusion of his term on behalf of LIC. In his place, the board has appointed Smt. Meeta Khare, a former Executive Director (Estates) at LIC, as an Additional Non-Executive Non-Independent Director. This is a routine replacement of a nominee director and does not impact the company's operational management or financial strategy.
- Resignation of Mr. Yogendra Singh as Non-Executive Director effective August 7, 2026.
- Appointment of Smt. Meeta Khare as Additional Non-Executive Director effective August 7, 2026.
- Smt. Meeta Khare brings institutional experience as a former Executive Director (Estates) at LIC.
- The company maintains a stable promoter holding of 72.7% as of March 2026.
- Gloster Limited reported TTM revenue of ₹1427 Cr with an operating profit margin of 10.3%.
Gloster Limited has announced a change in its board representation for the Life Insurance Corporation of India (LIC). Shri Yogendra Singh has resigned as a Non-Executive Non-Independent Director effective August 7, 2026, following the completion of his term. In his place, Smt. Meeta Khare, a former Executive Director at LIC, has been appointed as an Additional Non-Executive Non-Independent Director. This is a routine replacement of a nominee director and does not alter the company's operational management or strategic direction.
- Appointment of Smt. Meeta Khare as Additional Non-Executive Non-Independent Director effective August 7, 2026
- Resignation of Shri Yogendra Singh from the Board effective August 7, 2026, due to completion of his LIC term
- Smt. Meeta Khare brings experience as a former Executive Director (Estates) at LIC
- The company maintains a market capitalization of ₹764 Cr with a TTM revenue of ₹1427 Cr
Gloster Limited reported a robust performance for Q1 FY27, with standalone revenue growing 42.7% YoY to ₹242.86 Cr. Standalone Net Profit saw a significant jump of 158% to ₹13.88 Cr from ₹5.38 Cr in Q1 FY26. The consolidated results highlight the growing importance of the 'Cables & Other Electrical Products' segment, which contributed ₹79.26 Cr to the total consolidated revenue of ₹204.56 Cr. The company is also awaiting NCLT approval for the amalgamation of two subsidiaries.
- Standalone Revenue from operations rose 42.7% YoY to ₹242.86 Cr vs ₹170.19 Cr in Q1 FY26
- Standalone Net Profit increased 158% YoY to ₹13.88 Cr from ₹5.38 Cr
- Cables segment revenue reached ₹79.26 Cr, contributing significantly to the consolidated top line
- Amortization of goodwill totaling ₹141.66 Cr is being processed as per NCLT orders dated January 2018
- Amalgamation of Gloster Lifestyle and Gloster Specialities is pending final NCLT approval after being reserved for order on Feb 14, 2026
Gloster Limited has announced its 104th Annual General Meeting (AGM) to be held on August 7, 2026, via video conferencing. The company has released its Annual Report for the financial year 2025-26, providing shareholders with a comprehensive review of the past year's performance. This filing is a procedural requirement under SEBI LODR regulations to ensure all shareholders, including those without registered emails, are notified. Investors should look to the annual report for updates on the company's diversification into industrial cables and its jute capacity expansion from 252 to 300 TPD.
- 104th Annual General Meeting scheduled for August 7, 2026, at 11:00 AM
- Annual Report for the financial year 2025-26 released and made available online
- Company is currently expanding jute manufacturing capacity from 252 TPD to 300 TPD
- Subsidiary FGIL holds a significant order book of INR 1,200 Cr to be executed over 2 years
- Physical letters being dispatched to shareholders whose email addresses are not registered
Gloster Limited has announced its 104th Annual General Meeting (AGM) for August 7, 2026. The Board has recommended a final dividend of Rs 20 per share (200% of face value) for FY26, representing a yield of approximately 2.9% at current prices. The company is also seeking shareholder approval to appoint M/s Singhi & Co. as statutory auditors for a five-year term with a proposed fee of Rs 42 lakhs for FY27. Additionally, the re-appointment of Executive Chairman Hemant Bangur is on the agenda.
- Final dividend of Rs 20 per equity share (200% of face value) recommended for FY 2025-26
- Record date for dividend entitlement was fixed as July 3, 2026
- Proposed statutory auditor fee of Rs 42,00,000 for FY 2026-27 for M/s Singhi & Co.
- Executive Chairman Hemant Bangur's remuneration for FY 2025-26 stood at Rs 255.09 lakhs
- Cut-off date for e-voting eligibility is July 31, 2026
Gloster Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, Maheshwari Datamatics Pvt. Ltd., confirmed that no requests for dematerialization of equity shares were received during the quarter ended June 30, 2026. This is a standard procedural filing required by SEBI to ensure the integrity of shareholding records. It has no impact on the company's financial performance or business operations.
- Reporting period covered: April 1, 2026, to June 30, 2026
- Total dematerialization requests received: 0
- Compliance filing date: July 10, 2026
- Registrar and Share Transfer Agent: Maheshwari Datamatics Pvt. Ltd.
Gloster Limited has fixed July 3, 2026, as the record date to determine shareholder eligibility for the dividend pertaining to the financial year ended March 31, 2026. The company will hold its 104th Annual General Meeting (AGM) on August 7, 2026, to seek formal approval for this payout. Additionally, July 31, 2026, has been established as the cut-off date for e-voting eligibility for the AGM. This announcement provides clarity on the timeline for corporate actions following the 2025-26 fiscal year.
- Record date for dividend eligibility is fixed as July 3, 2026
- 104th Annual General Meeting scheduled for August 7, 2026, at 11:00 A.M.
- Cut-off date for e-voting eligibility set for July 31, 2026
- Dividend is subject to shareholder approval at the upcoming AGM
Gloster Limited has announced a final dividend of Rs. 20 per equity share for the financial year ended March 31, 2026, representing a 200% payout. This recommendation was approved during the Board Meeting held on May 23, 2026, alongside the company's audited financial results. The statutory auditors have issued an unmodified opinion on both standalone and consolidated financial statements. The dividend payment remains subject to shareholder approval at the upcoming Annual General Meeting.
- Recommended a final dividend of Rs. 20 per equity share (200% of face value) for FY 2025-26.
- Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.
- Statutory Auditor M/s Singhi & Co. issued an unmodified opinion on the financial statements.
- The dividend is subject to final approval by shareholders at the ensuing Annual General Meeting.
Gloster Limited reported a significant 44.7% increase in annual revenue from operations, reaching ₹90,686.36 lakhs for FY26 compared to ₹62,668.27 lakhs in FY25. However, net profit for the year saw a decline of 11.4%, falling to ₹3,876.03 lakhs from ₹4,373.17 lakhs, primarily due to a sharp rise in raw material costs and other expenses. Despite the profit dip, the Board has recommended a substantial dividend of 200% (₹20 per share). The company continues to amortize goodwill of ₹14,582.23 lakhs as per NCLT orders, which impacts the bottom line.
- Revenue from operations grew by 44.7% YoY to ₹90,686.36 lakhs in FY26.
- Net Profit after tax decreased by 11.4% to ₹3,876.03 lakhs for the full year.
- Board recommended a dividend of ₹20 per equity share (200% of face value).
- Total expenses rose significantly to ₹88,668.13 lakhs from ₹61,629.50 lakhs in the previous year.
- Basic EPS for the year stood at ₹35.42, down from ₹39.96 in FY25.
Gloster Limited has received the First Motion Order from the NCLT, Kolkata Bench, for the amalgamation of its two wholly-owned subsidiaries, Gloster Lifestyle Limited and Gloster Specialities Limited, into the parent company. The NCLT has dispensed with the requirement for shareholder meetings for the applicant companies, streamlining the process. As these are 100% owned subsidiaries, no new shares will be issued, and there will be no change in the shareholding pattern of the listed entity. The merger, effective from April 1, 2025, is intended to improve capital efficiency and operational synergy.
- NCLT Kolkata Bench issued the First Motion Order on May 22, 2026, for the Scheme of Amalgamation.
- Two wholly-owned subsidiaries, Gloster Lifestyle Ltd and Gloster Specialities Ltd, to merge with Gloster Limited.
- No new shares will be issued, resulting in zero dilution for existing shareholders.
- The merger is effective from the appointed date of April 1, 2025.
- Gloster Limited reported a standalone turnover of ₹62,668.27 lakhs for the fiscal year ended March 31, 2025.
Financial Performance
Revenue Growth by Segment
Jute Goods segment (Standalone) generated INR 626.68 Cr in FY25, representing a 3.07% YoY decline from INR 646.55 Cr in FY24. The Cables & Other Electrical Products segment, operated through subsidiary Fort Gloster Industries Limited, commenced operations in Q1 FY25 and is expected to contribute significantly following the securing of a INR 1,200 Cr order book.
Geographic Revenue Split
The company maintains a diversified geographic presence with export earnings of INR 177.02 Cr (approx. 28% of standalone revenue) from markets including the USA, European Union, Middle East, Australia, and Japan. Domestic sales account for the remaining approx. 72% of revenue.
Profitability Margins
Standalone Profit for the year was INR 43.73 Cr, a marginal decline of 0.78% YoY. Consolidated PAT margins declined sharply to -1.75% in FY25 from 3.75% in FY24, primarily due to a 252% increase in standalone finance costs (INR 9.16 Cr) and higher depreciation from new manufacturing facilities.
EBITDA Margin
Consolidated EBITDA was impacted by initial operational phases of subsidiaries; however, Gloster Nuvo Limited (GNL) has already achieved EBITDA positivity. Group-level profitability was constrained by high interest expenses and depreciation related to the INR 517 Cr CAPEX for FGIL.
Capital Expenditure
The group has undertaken a major debt-funded CAPEX of INR 517 Cr to upgrade and restart the manufacturing facility of Fort Gloster Industries Limited (FGIL). Additional CAPEX in Gloster Nuvo Limited (GNL) has increased total jute manufacturing capacity to 252 TPD, with a target of 300 TPD.
Credit Rating & Borrowing
Acuité has reaffirmed a long-term rating of 'ACUITE A+' (Stable) and a short-term rating of 'ACUITE A1'. Standalone finance costs rose 251.95% to INR 9.16 Cr in FY25 due to increased utilization of working capital limits and long-term debt for subsidiaries.
Operational Drivers
Raw Materials
Raw Jute is the primary raw material, accounting for INR 332.95 Cr or 53.13% of standalone revenue in FY25, up 3.04% YoY.
Capacity Expansion
Current jute manufacturing capacity stands at 252 TPD (Tons Per Day) following the commencement of GNL operations. Planned expansion aims to reach 300 TPD upon completion of ongoing CAPEX initiatives.
Raw Material Costs
Raw material costs stood at INR 332.95 Cr in FY25, representing 53.13% of revenue. Profitability is highly sensitive to raw jute price volatility and government-imposed stock restrictions which limit the inventory mills can maintain.
Manufacturing Efficiency
Efficiency is driven by the acquisition of new machinery and modernization of the FGIL plant, aimed at reducing production costs and increasing production rates.
Strategic Growth
Growth Strategy
Growth is targeted through business diversification into industrial cables via FGIL, which secured a INR 1,200 Cr order book to be executed over 2 years. The group is also expanding jute capacity by 19% (from 252 to 300 TPD) and expects GNL and FGIL to reach breakeven by FY26.
Products & Services
Jute goods including Hessian, Sacking, lifestyle products, and promotional made-ups; Industrial Cables and other electrical products.
Brand Portfolio
Gloster, Fort Gloster Industries.
New Products/Services
Entry into the 'Cables & Other Electrical Products' segment through FGIL, which started operations in Q1 FY25.
Market Expansion
Expansion into the industrial cable market and increasing the share of value-added jute lifestyle products in overseas markets like the EU and Japan.
Strategic Alliances
The group acquired Fort Gloster Industries Limited (FGIL) through the NCLT process to diversify its business profile.
External Factors
Industry Trends
The industry is shifting toward sustainable packaging due to carbon footprint concerns. Current mandatory packing norms (100% food grains/20% sugar) are valid until June 2025, making the regulatory outlook a critical factor for future demand.
Competitive Landscape
Competes with other jute mills in India and Bangladesh, as well as synthetic packaging manufacturers.
Competitive Moat
Durable competitive advantage derived from a 100-year operational history (since 1923), established brand equity in export markets, and recent diversification into the cable industry which provides a counter-cyclical revenue stream.
Macro Economic Sensitivity
Highly sensitive to government regulations regarding mandatory jute packaging (JPMA) and rising global demand for sustainable, biodegradable alternatives to plastic.
Consumer Behavior
Increasing consumer preference for bio-degradable and sustainable products is driving growth in the promotional and lifestyle jute goods segment.
Geopolitical Risks
Exposure to international trade dynamics in the USA and EU, which are key export destinations for lifestyle jute products.
Regulatory & Governance
Industry Regulations
Governed by the Jute Packaging Materials (Compulsory use for Packing Commodities) Act, 1987 (JPMA) and raw jute stock control orders issued by the Jute Commissioner.
Environmental Compliance
The company focuses on reducing carbon footprints through natural fiber products; specific ESG compliance costs were not disclosed.
Legal Contingencies
The company increased its borrowing limits under Section 180(1)(c) to INR 1,000 Cr and created charges on assets to secure these borrowings.
Risk Analysis
Key Uncertainties
Potential non-renewal or dilution of JPMA packing norms after June 2025 could impact 20-30% of demand; volatility in raw jute prices directly impacts the 53% raw material cost base.
Geographic Concentration Risk
Approx. 72% of revenue is domestic, with significant export concentration in the USA and EU.
Third Party Dependencies
High dependency on government procurement for food grain packaging and specific large clients like Salasar Techno Engineering for the cable segment.
Technology Obsolescence Risk
The group is mitigating technology risks by investing INR 517 Cr in modernizing FGIL and GNL facilities with new machinery.
Credit & Counterparty Risk
Creditor days increased to 74 days in FY25 from 16 days in FY24, while debtor days were 23 days in FY24, indicating a shift in working capital management during expansion.
