GILLANDERS

Gillanders Arbuthnot & Company Limited

Diversified conglomerate with tea, engineering, textiles and property businesses

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Agricultural Food & other Products›Tea & Coffee

gillandersarbuthnot.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹106.70
Market cap
228 Cr
Stock P/E
13.1
P/B
0.88
Dividend yield
0.0%
ROE (FY26)
3.7%
ROCE (FY26)
5.9%
Operating margin (FY26)
2.9%
Debt / equity (FY26)
0.58
OCF / EBITDA (FY26)
61.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Gillanders Arbuthnot (Gillanders) is a Kolkata-based diversified company that runs tea estates, an engineering business under the MICCO name, a cotton mill and a property division.

Company snapshot

8thBy market cap

Ranked among 14 companies in Tea & Coffee.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 45.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Engineering (MICCO)
34.3%
44 Cr3 Cr105 Cr
Property
1.7%
2 Cr1 Cr80 Cr
Tea
45.7%
58 Cr1 Cr196 Cr
Textiles
18.4%
23 Cr-0.03 Cr101 Cr

What we see

Concerns
  • ✗Net margin is very thin at 2.2% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales105 Cr101 Cr69 Cr85 Cr127 Cr128 Cr104 Cr88 Cr132 Cr107 Cr103 Cr91 Cr
Operating expenses (approx.)96 Cr126 Cr84 Cr90 Cr101 Cr120 Cr106 Cr88 Cr113 Cr99 Cr108 Cr85 Cr
EBITDA9 Cr-24 Cr-16 Cr-5 Cr25 Cr8 Cr-2 Cr-0.12 Cr20 Cr8 Cr-4 Cr6 Cr
OPM %8.5%-24.0%-22.8%-6.2%19.9%6.1%-2.0%-0.1%14.8%7.8%-4.2%7.0%
Other income2 Cr8 Cr-1 Cr2 Cr4 Cr1 Cr4 Cr0.49 Cr3 Cr3 Cr6 Cr2 Cr
Interest4 Cr4 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Depreciation3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr2 Cr
Profit before tax4 Cr-23 Cr-22 Cr-10 Cr23 Cr15 Cr-4 Cr-6 Cr16 Cr5 Cr-5 Cr2 Cr
Tax %13.4%2.3%-10.5%-1.7%7.4%14.6%153.6%1.3%12.0%14.4%20.9%-5.8%
Net profit4 Cr-22 Cr-25 Cr-10 Cr21 Cr13 Cr2 Cr-5 Cr14 Cr5 Cr-4 Cr3 Cr
EPS (₹)₹1.71₹-10.47₹-11.55₹-4.60₹10.06₹6.11₹0.96₹-2.56₹6.68₹2.13₹-1.82₹1.18

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales681 Cr665 Cr751 Cr660 Cr431 Cr406 Cr449 Cr363 Cr443 Cr431 CrSign in free for the trailing twelve months
Operating expenses (approx.)654 Cr611 Cr686 Cr632 Cr400 Cr377 Cr437 Cr397 Cr417 Cr408 CrSign in free for the trailing twelve months
EBITDA28 Cr53 Cr65 Cr28 Cr31 Cr30 Cr12 Cr-34 Cr26 Cr23 CrSign in free for the trailing twelve months
OPM %4.1%8.0%8.7%4.3%7.1%7.3%2.7%-9.3%5.8%5.4%Sign in free for the trailing twelve months
Other income8 Cr17 Cr12 Cr17 Cr9 Cr17 Cr20 Cr14 Cr11 Cr12 CrSign in free for the trailing twelve months
Interest54 Cr50 Cr50 Cr48 Cr37 Cr23 Cr18 Cr14 Cr12 Cr13 CrSign in free for the trailing twelve months
Depreciation22 Cr24 Cr20 Cr20 Cr16 Cr12 Cr12 Cr12 Cr11 Cr11 CrSign in free for the trailing twelve months
Profit before tax-18 Cr-4 Cr7 Cr-12 Cr-15 Cr11 Cr12 Cr-46 Cr25 Cr11 CrSign in free for the trailing twelve months
Tax %-4.1%-111.9%95.2%-21.9%-2.3%-42.4%-21.6%-5.6%-7.0%14.6%Sign in free for the trailing twelve months
Net profit-19 Cr-9 Cr0.32 Cr-15 Cr-16 Cr16 Cr15 Cr-49 Cr27 Cr9 CrSign in free for the trailing twelve months
EPS (₹)₹-8.83₹-4.01₹0.15₹-7.13₹-7.32₹7.66₹6.95₹-22.78₹12.52₹4.43Sign in free for the trailing twelve months
Dividend payout %—————0.2%0.0%—0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr
Reserves262 Cr271 Cr268 Cr255 Cr231 Cr249 Cr255 Cr196 Cr224 Cr237 Cr
Borrowings405 Cr375 Cr350 Cr293 Cr186 Cr183 Cr145 Cr129 Cr139 Cr149 Cr
Other liabilities247 Cr275 Cr286 Cr288 Cr185 Cr144 Cr129 Cr130 Cr130 Cr146 Cr
Total liabilities936 Cr942 Cr925 Cr857 Cr624 Cr597 Cr550 Cr477 Cr514 Cr553 Cr
Fixed assets (net)440 Cr432 Cr427 Cr420 Cr315 Cr311 Cr298 Cr263 Cr256 Cr252 Cr
CWIP9 Cr17 Cr14 Cr15 Cr14 Cr12 Cr11 Cr9 Cr13 Cr20 Cr
Investments29 Cr34 Cr29 Cr17 Cr8 Cr3 Cr0.09 Cr0.09 Cr0.02 Cr0.02 Cr
Loans & advances——0.25 Cr1 Cr2 Cr0.09 Cr0.07 Cr0.08 Cr0.08 Cr0.09 Cr
Inventories161 Cr185 Cr195 Cr158 Cr99 Cr122 Cr107 Cr93 Cr92 Cr133 Cr
Trade receivables102 Cr97 Cr98 Cr82 Cr64 Cr40 Cr26 Cr29 Cr62 Cr63 Cr
Cash & bank2 Cr2 Cr3 Cr4 Cr2 Cr0.72 Cr3 Cr2 Cr0.61 Cr3 Cr
Other assets193 Cr176 Cr159 Cr160 Cr122 Cr109 Cr105 Cr80 Cr91 Cr81 Cr
Total assets936 Cr942 Cr925 Cr857 Cr624 Cr597 Cr550 Cr477 Cr514 Cr553 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity47 Cr69 Cr102 Cr73 Cr66 Cr69 Cr59 Cr33 Cr8 Cr14 Cr
Cash from investing41 Cr-13 Cr-18 Cr1 Cr111 Cr-2 Cr0.27 Cr-3 Cr-7 Cr-8 Cr
Cash from financing-83 Cr-74 Cr-82 Cr-73 Cr-178 Cr-68 Cr-57 Cr-30 Cr-3 Cr-4 Cr
Net cash flow5 Cr-19 Cr0.89 Cr0.99 Cr-2 Cr-1 Cr2 Cr-0.28 Cr-2 Cr2 Cr
Free cash flow (OCF − Capex)34 Cr48 Cr85 Cr50 Cr61 Cr61 Cr48 Cr28 Cr-0.36 Cr4 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.1%6.9%9.0%6.2%4.9%7.7%7.2%-9.2%9.7%5.9%
ROE %-6.6%-2.9%0.1%-5.5%-6.2%6.1%5.4%-22.4%10.9%3.7%
Debtor days54534745543521295153
Inventory days2542952833024934284525706581023
Days payable182210207241336242203297380495
Cash conversion cycle127138123106211221270302329581
OCF / EBITDA %171.4%128.7%155.4%255.7%216.1%230.3%n.m.—30.0%61.0%
OCF / EBITDA % (3 years)——148.7%165.1%193.3%233.6%267.8%n.m.n.m.n.m.
Debt / equity1.431.281.211.060.740.680.520.590.570.58
Current ratio1.000.930.950.880.971.000.940.790.881.05
Net debt / EBITDA14.60—5.3210.166.036.1211.88—5.396.24