Global Pet Industries Limited

Sector n/a · NSE

₹96.85−₹0.15 (−0.15%)

DalalBaazaar Score

62 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by micro-cap size, which brings thin liquidity.

In simple words: Reasonable but unspectacular business quality, with both sales and profits growing well. Nothing on this snapshot stands out as an immediate concern — the usual checks on business quality and management still apply.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:07 pm

Mixed / neutral. No major red flags jump out, but nothing here screams "obviously cheap" either. This is a name that needs a peer comparison and a view on near-term earnings triggers before sizing a position.

Understanding the Business

The 60-second version of Global Pet Industries Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

How does it make money?

Turns over ₹55 Cr a year. Of every ₹100 of sales, about ₹10 reaches shareholders as profit, with ₹13 left at the operating level before interest, tax and depreciation.

EBITDA margin13.0%

Net margin9.6%

What is its competitive advantage?Little sign of one

Returns on capital of 12.9% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROCE12.9%

ROE9.6%

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +61% while net margin moved +65% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+61%

Margin effect+65%

DalalBaazaar Score

62/ 100

Good

Weighted across six categories. Every point is explained below.

✗ Micro Cap: thinner liquidity and sharper drawdowns are normal

Quality vs. Valuation

Company Quality

70/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

60/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

No P/E available

P/E (Trailing)

—

P/B

—

EV/EBITDA

11.9x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well3

Margins are improving
EBITDA margin is up from 7.2% to 13.0% over 3 years.
Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 21.8% to 9.6% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 28.5% to 12.9% — often a sign of competition or overexpansion.

Red Flags

1 item require attention · 1 watch

🟡Shareholders have been dilutedOwnership
Shares outstanding are up 20% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 7.2% to 13.0%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Returns on shareholder capital are falling
ROE has dropped from 21.8% to 9.6%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 13% a year✓ 17.2% CAGR
Latest reported year was 23.7%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 11%✓ 13.0%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✓ ₹0 Cr
Profit that never becomes cash eventually stops being profit.
4ROCE stays above 10%✓ 12.9%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

5 / 8 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 8 neutral · 0 weak

Market Cap

₹114 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not available

No data

Source didn't return this field

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

Not available

No data

Source didn't return this field

ROE

9.6%

Moderate

Moderate capital efficiency

ROCE

12.9%

Moderate

Moderate return on the capital in the business

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

23.7%

Healthy

Healthy top-line growth

Profit Growth (YoY)

23.9%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹0 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

CMP

₹96.85

Gross Margin

28.3%

Proxy

Operating margin unavailable — showing gross margin instead

Net Margin

9.6%

Average

Average bottom-line conversion

Current Ratio

3.40

Comfortable

Healthy short-term liquidity

Technical Snapshot

SMA 20 / SMA 50

167.6 / 162.6

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

58.3

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹34 Cr	₹39 Cr	₹45 Cr	₹55 Cr	+17.2%
EBITDA	₹2 Cr	₹3 Cr	₹6 Cr	₹7 Cr	+42.7%
EBITDA Margin	7.2%	6.8%	12.8%	13.0%	—
PAT (Net Profit)	₹2 Cr	₹2 Cr	₹4 Cr	₹5 Cr	+38.4%
EPS	₹2.04	₹2.27	₹4.05	—	—
ROE	21.8%	8.4%	8.5%	9.6%	—
ROCE	28.5%	9.0%	10.8%	12.9%	—
Free Cash Flow	-₹3 Cr	-₹12 Cr	-₹7 Cr	₹0 Cr	—

🟢 Revenue has grown at 17.2% a year over 3 years.

🟢 EBITDA has grown at 42.7% a year over 3 years.

🟢 EBITDA Margin has risen from 7.2% to 13.0% over 3 years (+5.8 pts).

🟢 PAT (Net Profit) has grown at 38.4% a year over 3 years.

🔴 ROE has fallen from 21.8% to 9.6% over 3 years (-12.2 pts).

🔴 ROCE has fallen from 28.5% to 12.9% over 3 years (-15.7 pts).

🟢 Free Cash Flow has turned positive, from -₹3 Cr to ₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹70 Cr

Total Liabilities

₹15 Cr

Total Debt

—

Cash & Equivalents

₹29 Cr

Operating Cash Flow

₹7 Cr

Capex

-₹7 Cr

Recent News

1 positive5 general

Global Pet Industries Ltd. Lower Circuit Today: Price, Data and Peers

Univest, 01 Oct

Global Pet Industries Buyback 2026 Record Date, Price & Ratio Details

IPO Watch, 30 SeptCapital return

🟢Potentially positiveCash or shares returned to holders. A buyback is only good value if the shares were cheap when bought.

Global Pet Industries Ltd. Upper Circuit Today: Price, Data and Peers

Univest, 28 Sept

Explore the Global Pet Market — Key Trends, Regional Growth, Top Players, and 10-Year Forecast from 2026 to 2036

Future Market Insights, 02 Jun

PET makers stock prices soar despite dumping levies

The Economic Times, 26 Sept

Pet Fitness Trackers Market

Future Market Insights, 16 May

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
Sector/industry classification unavailable — verify manually for peer comparison.
4 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

🟡Business QualityAdequate10.5/20

🟢Financial HealthStrong17.5/20

🟢GrowthStrong18.5/20

🔴ProfitabilityWeak5.8/15

🟡ValuationFair7.5/15

🔴RiskHigh1.8/10

Good business at a fair price

A sound business at a reasonable valuation. Suitable for a long-term holding, with the valuation and the direction of margins worth watching rather than the business itself.

This thesis breaks if

✓Revenue growth stays above 13% a year17.2% CAGR
✓EBITDA margin holds above 11%13.0%
✓Free cash flow remains positive₹0 Cr
✓ROCE stays above 10%12.9%