Gujarat Apollo Industries Limited (GUJAPOLLO)
₹343.80 -1.93% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Gujarat Apollo's revenue was ₹10.0 Cr (-10.0% year on year, -22.3% on the previous quarter), and net profit ₹1.0 Cr (-15.2% year on year); the operating margin was -34.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹10.0 | -10.0% | -22.3% |
| Operating profit | ₹-3.4 | loss widened | loss widened |
| Net profit | ₹1.0 | -15.2% | -46.7% |
| EPS (₹) | 0.62 | -36.7% | -56.0% |
| Operating margin | -34.5% | — | — |
GUJAPOLLO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 32.83% of the GUJAPOLLO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 62.96%. That is lower than usual for this stock. Turnover was only ₹22 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 55.9% · 53.3% · 48.6% · 74.1% · 32.8%
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
Gujarat Apollo Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RTA MUFG Intime India Private Limited confirms that share certificates received for dematerialisation were duly processed, confirmed or rejected, and mutilated/cancelled within prescribed timelines. This is a purely administrative compliance filing and presents no impact on operational performance or financial results.
- Quarter ended September 30, 2026 compliance certificate under Regulation 74(5)
- RTA MUFG Intime India Private Limited confirmed processing and mutilation of certificates
- Filing submitted to BSE and NSE on October 14, 2026
Gujarat Apollo Industries Limited has completed the sale of its entire 17.92% equity stake (1,34,40,000 shares) in unlisted Credo Advanced Chemicals Limited on October 6, 2026. The total consideration received stands at ₹37.63 crore, which represents approximately 71% of the company's TTM revenue of ₹52 crore and ~10% of its market capitalization (₹377 crore). The transaction had previously received board approval on September 3, 2026, as well as shareholder approval. Deloitte Touche Tohmatsu India LLP acted as the exclusive transaction advisor.
- Sold 1,34,40,000 equity shares of ₹10 each, representing entire 17.92% stake in Credo Advanced Chemicals
- Total aggregate sale consideration received is ₹37,63,20,000 (₹37.63 crore)
- Sale consideration represents ~71% of TTM revenue (₹52 Cr) and ~10% of current market cap (₹377 Cr)
- Deloitte Touche Tohmatsu India LLP acted as the exclusive advisor to the company
Gujarat Apollo Industries Limited released its voting results and Scrutinizer's Report for the 39th AGM held on September 28, 2026. Shareholders approved all agenda items with an overall 95.11% majority, including the adoption of FY26 financial statements and a final dividend of ₹2 per share (20% of face value). Crucially, the special resolution for the sale/disinvestment in Credo Advanced Chemicals Limited was approved under Regulation 37A, securing 73.83% approval from voting public shareholders. Re-appointment of Mr. Asit A. Patel as Chairman cum Managing Director was also approved.
- Final dividend of ₹2 per equity share (20% on face value of ₹10) approved by shareholders
- Overall 95.11% of valid votes (64,63,929 votes) cast in favour across all resolutions, while 4.89% (3,32,407 votes) voted against
- Special resolution for sale/disinvestment in Credo Advanced Chemicals Limited passed with 73.83% public shareholder approval
- Total voter turnout represented 52.40% of outstanding shares (67,96,336 votes polled out of 1,29,70,000 shares)
Gujarat Apollo Industries concluded its 39th Annual General Meeting on September 28, 2026, with 40 members attending in person. Key agenda items placed before shareholders included the declaration of a dividend of ₹2 per share and a special resolution approving the sale/disinvestment in Credo Advanced Chemicals Limited. Additionally, shareholders voted on the re-appointment of Mr. Asit A. Patel as Chairman and Managing Director. Scrutinizer voting results are expected within two working days.
- Meeting conducted on September 28, 2026, with 40 members present in person
- Shareholder resolution tabled for declaration of dividend at ₹2 per share
- Special resolution presented for approval of sale/disinvestment in Credo Advanced Chemicals Limited
- Special resolution tabled for re-appointment of Mr. Asit A. Patel as Chairman Cum Managing Director
- Final voting results to be disclosed within 2 working days
Gujarat Apollo Industries Limited has fixed September 21, 2026, as the record date and cut-off date to determine shareholder eligibility for the FY26 dividend and voting at its 39th Annual General Meeting (AGM). The AGM is scheduled to be held on Monday, September 28, 2026. Remote e-voting will be open from September 25 to September 27, 2026. Dividend disbursement remains subject to approval by shareholders at the AGM.
- Record date and cut-off date fixed as September 21, 2026 for dividend and AGM voting
- 39th Annual General Meeting convened for Monday, September 28, 2026 at 11:00 AM
- Remote e-voting window open from September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)
Gujarat Apollo Industries has approved in-principle the sale of its 17.96% stake (1.344 crore shares) in Credo Advanced Chemicals Limited to Mr. Naman Madhav Patel for a total cash consideration of ₹37.63 crore. The transaction size represents ~72.4% of the company's TTM revenue of ₹52 crore and ~9.9% of its market capitalization (₹379 crore). The sale is subject to shareholder approval at the upcoming 39th AGM scheduled for September 28, 2026, and is expected to close within 90 days of approval. Additionally, the Board fixed September 21, 2026, as the record date for dividend eligibility and AGM voting.
- Approved sale of 1,34,40,000 shares (17.96% stake) in Credo Advanced Chemicals Limited for ₹37,63,20,000 (₹37.63 crore).
- Divestment value equals ~72.4% of TTM revenue (₹52 crore) and ~14.1% of net worth (₹266 crore).
- Credo Advanced Chemicals contributed 7.92% to total turnover and net worth in the previous financial year.
- Sale is to a non-related party (Mr. Naman Madhav Patel) with completion expected within 90 days of shareholder approval.
- Record date set for September 21, 2026, for dividend and the 39th AGM on September 28, 2026.
Gujarat Apollo Industries has approved the re-appointment of Mr. Asit A. Patel as Chairman cum Managing Director for a 3-year term starting September 1, 2026, subject to shareholder approval. The board also approved the appointment of Mr. Aryan A. Patel (holding 35,200 shares) as Manager-Technical/Executive-Business Development effective October 1, 2026. Concurrently, the company announced its operational entry into road construction equipment by completing manufacturing and sales of its first Asphalt Mixing Plant and Paver Finisher. Q1 financial results for the quarter ended June 30, 2026, were also adopted at the board meeting.
- Re-appointed Mr. Asit A. Patel as Chairman cum Managing Director for a period of 3 years effective September 1, 2026.
- Appointed related-party Mr. Aryan A. Patel (holding 35,200 equity shares) to Senior Management effective October 1, 2026.
- CMD Mr. Asit A. Patel holds 5,000 equity shares in the company.
- Announced the commercial rollout and initial sales of Asphalt Mixing Plants and Paver Finishers in the road construction segment.
Gujarat Apollo Industries has officially commenced the manufacturing and sales of Road Construction Equipment. As part of this rollout, the company has manufactured and sold an Asphalt Mixing Plant and a Paver Finisher. This foray marks a strategic diversification beyond its traditional crushing and screening portfolio against a TTM revenue base of Rs 52 Cr. Specific unit volumes, pricing, and revenue contributions for these initial sales were not disclosed in the announcement.
- Commenced commercial manufacturing and sales of Road Construction Equipment on August 14, 2026
- Successfully manufactured and sold Asphalt Mixing Plant and Paver Finisher
- Marks initial execution of stated strategy to expand beyond crushing and screening equipment
- Specific order values and sales figures were not disclosed in the filing
Gujarat Apollo Industries reported its unaudited financial results for the quarter ended June 30, 2026. Consolidated revenue from operations declined 10.0% YoY to ₹9.98 Cr (₹997.56 Lakhs) from ₹11.08 Cr in the previous year's corresponding quarter and down 22.3% QoQ. On a standalone basis, revenue rose 11.8% YoY to ₹7.41 Cr (₹740.57 Lakhs) with a net profit of ₹0.38 Cr (₹37.81 Lakhs), though profitability remains heavily sustained by other income of ₹4.27 Cr offsetting core operating losses.
- Consolidated revenue from operations decreased 10.0% YoY to ₹9.98 Cr (₹997.56 Lakhs) vs ₹11.08 Cr in Q1 FY26
- Standalone revenue from operations stood at ₹7.41 Cr (₹740.57 Lakhs), up 11.8% YoY from ₹6.62 Cr
- Standalone PAT reached ₹0.38 Cr (₹37.81 Lakhs) vs ₹0.10 Cr (₹9.77 Lakhs) in the year-ago period
- Standalone other income of ₹4.27 Cr (₹427.40 Lakhs) helped offset core standalone operating expenses of ₹11.22 Cr
Gujarat Apollo Industries has officially entered the material handling segment, dispatching its first Pick and Carry Crane in July 2026. The company plans to scale manufacturing capacity to 200 cranes per year over the next two years. To support this foray, the management has earmarked approximately ₹9 crore for working capital requirements. This move is a strategic attempt to diversify revenue beyond its core crushing and screening equipment, which has seen volatile performance recently.
- Dispatched the first manufactured Pick and Carry Crane in July 2026
- Targeting a manufacturing capacity of 200 cranes per year within a 2-year timeline
- Allocated approximately ₹9 crore for working capital to support the new business line
- Diversifying into Material Handling Equipment to drive revenue growth
- Investment of ₹9 crore represents approximately 17% of TTM revenue
Gujarat Apollo Industries Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026. The company confirmed it maintained an internal, non-tamperable database to track Unpublished Price Sensitive Information (UPSI) as per SEBI regulations. During the quarter, 1 specific UPSI event was identified and recorded. This is a routine procedural filing intended to demonstrate adherence to insider trading prevention protocols.
- 1 UPSI event was required to be captured and was successfully recorded during the quarter ended June 30, 2026
- The database is maintained internally with an audit trail and is non-tamperable
- Records in the SDD are capable of being maintained for a period of 8 years
- Zero non-compliances were observed or reported for the previous quarter
Gujarat Apollo Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by the Registrar and Share Transfer Agent (RTA) MUFG Intime India Private Limited, covers the period ending June 30, 2026. It confirms that share certificates received for dematerialization were processed, mutilated, and cancelled within prescribed timelines. This is a standard procedural filing required for all listed entities to ensure the integrity of shareholding records.
- Compliance confirmed for the quarter ended June 30, 2026
- Certificate issued by RTA MUFG Intime India Private Limited (formerly Link Intime)
- Adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 confirmed
- Verification and cancellation of physical certificates completed within prescribed timelines
Gujarat Apollo Industries Limited has recommended a dividend of ₹2 per equity share (20% of face value) for the financial year 2025-26. The Board approved the audited standalone and consolidated financial results for the year ended March 31, 2026, with a clean (unmodified) audit opinion. The company also reported zero financial indebtedness and provided an update on the utilization of ₹34.16 crore raised via a preferential issue in October 2025. M/s. S.K Moondra & Co. has been appointed as the Internal Auditor for FY 2026-27.
- Recommended a dividend of ₹2 per equity share (20% on face value of ₹10) for FY 2025-26.
- Reported zero total financial indebtedness including short-term and long-term debt as of March 31, 2026.
- Utilized ₹34.16 crore raised from a preferential issue for expansion, working capital, and capital expenditure.
- Received an unmodified audit opinion from statutory auditors for both standalone and consolidated FY26 results.
- Appointed M/s. S.K Moondra & Co. as Internal Auditors for the financial year 2026-27.
Gujarat Apollo Industries has recommended a final dividend of Rs 2 per equity share (20% of face value) for FY 2025-26, subject to shareholder approval. The Board also approved the audited financial results for the quarter and year ended March 31, 2026, with auditors issuing an unmodified opinion. The company reported zero defaults on loans and disclosed the utilization of Rs 34.16 crore raised through a preferential issue in October 2025. Additionally, M/s. S.K Moondra & Co. has been appointed as the Internal Auditor for the upcoming financial year.
- Recommended a final dividend of Rs 2 per equity share (20% on face value of Rs 10) for FY 2025-26.
- Approved audited standalone and consolidated financial results for the year ended March 31, 2026, with a clean audit report.
- Disclosed zero outstanding defaults on loans or debt securities as of the reporting date.
- Utilized Rs 36.53 crore (including issue expenses) from preferential issue proceeds for expansion and working capital.
- Appointed M/s. S.K Moondra & Co. as Internal Auditors for the financial year 2026-27.
Gujarat Apollo Industries Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended March 31, 2026. The company confirmed that it maintained an internal, non-tamperable database to track Unpublished Price Sensitive Information (UPSI) as per SEBI regulations. During the quarter, the company identified 3 specific events requiring capture and successfully recorded all 3 in the system. This filing demonstrates adherence to insider trading prevention protocols and standard corporate governance requirements.
- Full compliance with Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015.
- Successfully captured 3 out of 3 required UPSI events during the quarter ended March 31, 2026.
- Maintains a non-tamperable internal database with an audit trail capable of storing records for 8 years.
- Reported zero non-compliances or remedial actions for the previous quarter.
Financial Performance
Revenue Growth by Segment
Total revenue from operations for FY 2024-25 was INR 20.07 Cr, representing a 47.6% decrease from INR 38.31 Cr in the previous year. For H1 FY26 (ending September 30, 2025), consolidated revenue from two subsidiaries was reported at INR 15.85 Cr.
Geographic Revenue Split
The company operates in domestic (India) and export markets. Exports to Nepal are active, but other export regions are facing a 'USD crisis' and geopolitical instability, leading to delayed or canceled orders. Specific % split per region is not disclosed.
Profitability Margins
Net Profit Margin for FY 2024-25 was 8.09%, a slight decrease from 8.69% in the previous year. Profit After Tax (PAT) fell by 51.2% to INR 1.62 Cr from INR 3.33 Cr due to lower sales volumes and fixed operating expenses.
EBITDA Margin
Operating Profit Margin was reported at 29.01% for FY 2024-25 compared to 8.49% in the previous year, although management noted a 'drastic reduction' in margins due to stagnant operating expenses against lower sales, suggesting a potential data discrepancy in the source report.
Capital Expenditure
During H1 FY26, the company recorded a purchase of assets/CWIP (net) of INR 0.70 Cr and purchase of fixed assets of INR 0.75 Cr. In the previous full year, asset purchases totaled INR 8.14 Cr.
Credit Rating & Borrowing
The company maintains a low-leverage profile with a Debt-Equity ratio of 0.05:1. Finance costs for H1 FY26 were INR 0.57 Cr. Specific credit ratings and interest rate percentages were not disclosed.
Operational Drivers
Raw Materials
The company utilizes engineering inputs for heavy machinery; however, specific names like steel or copper and their exact % of total cost are not disclosed in the documents.
Capacity Expansion
The company is leveraging core competencies to expand its product portfolio into construction and material handling equipment. Current installed capacity in units or MT is not disclosed.
Raw Material Costs
Cost of materials consumed for H1 FY26 (standalone) was INR 0.10 Cr. Procurement strategies focus on accepting orders only at break-even sales values for the domestic market to manage stiff competition.
Manufacturing Efficiency
Capacity utilization metrics are not explicitly provided, but the company noted that projects went on hold due to the general election, implying lower utilization during the early part of the year.
Strategic Growth
Growth Strategy
The company is diversifying its product portfolio beyond its core crushing and screening equipment into construction equipment and material handling equipment. This leveraging of engineering and manufacturing competencies is intended to attract new customer segments and offset domestic project delays.
Products & Services
Core products include Crushing and Screening equipment. New product lines include Construction equipment and Material Handling equipment.
Brand Portfolio
Gujarat Apollo.
New Products/Services
Construction equipment and material handling equipment are the primary new product launches; expected revenue contribution % is not disclosed.
Market Expansion
The company is targeting expansion in the construction and material handling sectors to diversify its revenue base.
Strategic Alliances
The company has investments in subsidiaries (AEML Investments Limited, Apollo FBC Crushing Equipments Ltd) and joint ventures/associates. Specific partner names for new JVs were not disclosed.
External Factors
Industry Trends
The industry is seeing a shift toward broader infrastructure equipment portfolios. Gujarat Apollo is positioning itself by moving from niche crushing equipment to a wider range of construction and material handling solutions.
Competitive Landscape
The company faces 'stiff competition' in the domestic market, forcing a focus on break-even pricing for certain orders.
Competitive Moat
The company's moat is built on its core engineering and product development competencies in the crushing and screening niche. Sustainability depends on successfully transitioning these skills to the broader construction equipment market.
Macro Economic Sensitivity
Highly sensitive to government cycles; the 2024 general election caused significant project delays. Also sensitive to global currency stability (USD availability).
Consumer Behavior
Customer demand is currently driven by government-led infrastructure projects, making the company's order book cyclical and tied to political stability.
Geopolitical Risks
Geopolitical situations in export markets have directly resulted in delayed and canceled orders, particularly in regions facing USD crises.
Regulatory & Governance
Industry Regulations
The company complies with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015. It maintains a Vigil Mechanism/Whistle Blower Policy to report unethical behavior or fraud.
Taxation Policy Impact
The company's Profit Before Tax was INR 3.45 Cr and PAT was INR 1.62 Cr for FY 2024-25, implying an effective tax rate of approximately 53% (including deferred tax adjustments).
Legal Contingencies
The company reported no instances of non-compliance related to capital markets during the last three years. Specific values for pending court cases or labor disputes were not disclosed.
Risk Analysis
Key Uncertainties
The primary uncertainty is the recovery of export markets facing USD crises and the timeline for domestic projects that were put on hold during the election period.
Geographic Concentration Risk
The company has a significant dependency on the Indian domestic market and Nepal for its current revenue, as other export markets are currently constrained.
Technology Obsolescence Risk
The company is mitigating technology risks by developing 'innovative solutions' in its new product lines (material handling and construction equipment).
Credit & Counterparty Risk
Current ratio of 9.53:1 indicates very high liquidity and low immediate credit risk. Trade payables for micro and small enterprises stood at INR 4.26 Cr.
