GFCL EV Products Limited

GFCL EV Products Limited

Electric Equipment Unlisted Active
INE0KA501014 Est. 2021 Website
Current Price 18 Jul 2026
₹41.00

Min lot: 2,500 shares

Market Cap ₹30,287 Cr
P/E Ratio -294.0x
EPS ₹-0.14
Face Value ₹1.00
Book Value ₹3.80
P/B Ratio 10.79x
Min Lot 2,500 sh.
Total Debt ₹0 Cr

Price Trend

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Prices shown are indicative unlisted-market bid prices, updated periodically.

About GFCL EV Products Limited

Everyone is excited about electric vehicles. Almost nobody thinks about the chemistry inside the battery, which is exactly where GFCL EV Products lives.

It is a wholly owned subsidiary of Gujarat Fluorochemicals, part of the INOXGFL Group, and that group has been in chemicals and renewable energy for more than nine decades. So this is not a startup having a go at batteries.

The products are the intermediate materials that lithium ion cells are built from. Electrolyte salts, the LiPF and NaPF kind. Specialised additives and complete electrolyte formulations. LFP cathode active materials. Polymer binders such as PVDF and PTFE, the high performance ones. Because the setup is vertically integrated, most of that gets made in house instead of bought in.

Then there is the money. Roughly ₹6,000 crore, about US$720 million, spread over four to five years, with capacity meant to end up somewhere near 200 GWh a year. As of December 2023 around ₹650 crore of it was already committed.

That is an enormous bet on demand which does not exist yet. Everybody in the battery business is making the same one.

Financial Highlights

All figures are in Crores (₹)

FY23FY24FY25FY26 YOY %CAGR %
Net Sales0.000.379.4433.2+251.9%
Other Income0.790.2220.94.83-76.9%+82.9%
Total Income0.790.5930.438.1+25.3%+263.8%
Operating Profit-2.36-1.56-6.87-75.7-1,001.3%-217.7%
Interest0.380.532.6516.6+527.5%+252.4%
Depreciation0.001.5422.529.0+28.7%
Total Expenditure3.534.2162.4159.3+155.3%+256.0%
Exceptional Income0.000.000.000.00
PBT-2.74-3.6232.0-121.3-478.6%-253.7%
TAX0.000.625.03-18.3-462.8%
PAT-2.74-3.01-27.0-103.0-281.4%-235.0%
EPS (₹)₹0.00₹0.00₹-0.04₹-0.14-281.1%-235.3%
FY23FY24FY25FY26 YOY %CAGR %
Shareholder Funds389.8700.81,5122,807+85.7%+93.1%
Total Debt11.345.20.000.00
Current Liabilities49.360.3145.3510.7+251.4%+118.0%
Non Current Liabilities5.6551.77.90782.2+9,801.5%+417.3%
Total Liabilities444.8814.41,6652,807+68.6%+84.8%
Current Assets45.560.3337.2683.5+102.7%+146.7%
Non Current Assets398.3752.51,3282,123+59.9%+74.7%
Total Assets444.8814.41,6652,807+68.6%+84.8%
FY23FY24FY25FY26 YOY %CAGR %
Cash Flow From Operating Activities-43.5-60.9-154.5-177.1-14.7%-59.6%
Cash Flow From Investing Activities-319.4-287.7-612.1-822.7-34.4%-37.1%
Cash Flow From Financing Activities362.6347.3771.51,112+44.1%+45.3%
Free Cash Flow-358.8-348.6-598.3-999.9-67.1%-40.7%
FY23FY24FY25FY26YOY %
ROE(%)-0.70-0.40-1.80-3.70-105.6%
ROCE(%)-0.50-0.20-0.40-2.70-575.0%
ROA(%)-0.60-0.40-1.60-3.70-131.3%
Current Ratio(x)0.901.002.301.30-43.5%
Debt / Equity(x)0.030.060.000.00

No documents available yet.

Net Sales (in Cr.)

Total Income (in Cr.)

Net Profit (in Cr.)

Operating Profit (in Cr.)

Shareholder Funds (in Cr.)

Total Assets (in Cr.)

Operating Cash Flow (in Cr.)

Investing Cash Flow (in Cr.)

Financing Cash Flow (in Cr.)

Free Cash Flow (in Cr.)

Company Information

ISIN INE0KA501014
Industry Electric Equipment
Category Pre IPO
Incorporated 2021
Min Lot Size 2,500 shares
Demat Required Yes
ROFR Applicable No

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The minimum lot size for GFCL EV Products Limited is 2500 shares. Transactions are processed in multiples of this quantity.

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