Golden Crest Education & Services Limited

Industrials — Consulting Services · BSE

₹324.80₹0.00 (0.00%)

DalalBaazaar Score

55 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment.

In simple words: The business is earning a fairly low return on the money invested in it, with modest growth. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:01 pm

Understanding the Business

Company site ↗

The 60-second version of Golden Crest Education & Services Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Golden Crest Education & Services Limited provides consultancy, financial, and other allied services in India.

IndustryConsulting Services

SectorIndustrials

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹41 reaches shareholders as profit, with ₹60 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are LARSEN & TOUBRO LTD., SIEMENS LTD, ABB INDIA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 2.2% 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.

Peer median ROE15.2%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +25% while net margin moved +100% 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+25%

Margin effect+100%

DalalBaazaar Score

55/ 100

Moderate

Weighted across six categories. Every point is explained below.

✓ Beta of -0.58 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

58/ 100

Average

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

Valuation

39/ 100

Expensive

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.

Historical Valuation

Current P/E

721.8x

3Y Median

1058.1x

40 monthly readings · mean 1564.6x · range 583.7x–6044.6x

Sector Median

88.8x

median of 3 sector peers

🟢Current valuation is approximately 32% below its 3y median of 1058.1x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

⚠️Against its sector it trades 712% above the peer median of 88.8x.

vs. its own history

Cheap

1058.1x median over 40 months · -32%

vs. sector peers

Expensive

88.8x median of 3 peers · +712%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

666.0x

PEG

20.21

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 43.2% to 60.4% over 3 years.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

3 items require attention · 2 high · 1 watch

🔴Profit up while operating cash flow fallsFinancial
Reported profit rose but cash generated by operations declined — worth checking whether earnings are being supported by non-cash items or working capital.
🔴Receivables growing faster than salesFinancial
Receivables up 1526% against revenue up 25% — sales are being booked faster than they are collected.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹0 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 43.2% to 60.4%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Priced below its own history
The stock trades 32% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
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?

Sales are being booked faster than collected
Receivables are up 1526% against revenue up 25%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
A premium to the sector to defend
It trades 712% above the peer median. That premium needs a reason that persists, or it closes.
Growth barely outpaces inflation
Revenue compounding at 7.8% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
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.
Several serious flags at once
2 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

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

1EBITDA margin holds above 58%✓ 60.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
3Revenue growth stays above 6% a year✓ 7.8% CAGR
Latest reported year was 1.1%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
4ROCE stays above 8%✗ 2.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
5Valuation vs its own median of 1058.1x✓ 721.8x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

5 / 10 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
✗ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 5 neutral · 5 weak

Market Cap

₹170 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

721.8x

Expensive

Expensive — verify against sector peers

P/B Ratio

15.50x

Rich

Steep premium to book — needs high, durable returns to justify

EPS (TTM)

₹0.45

Profitable

Profitable on a per-share basis

ROE

1.6%

Weak

Weak capital efficiency

ROCE

2.2%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

1.1%

Modest

Modest growth

Profit Growth (YoY)

0.0%

Modest

Slow profit growth

Dividend Yield

None

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

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

8.6%

Average

Average margins

Net Margin

42.0%

Good

Strong bottom-line conversion

Current Ratio

66.97

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.58

Defensive

Steadier than the market

52W Range Position

65%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

324.8 / 322.2

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

100.0

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+7.8%
EBITDA	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+20.5%
EBITDA Margin	43.2%	47.1%	64.4%	60.4%	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+35.7%
EPS	₹0.13	₹0.13	₹0.31	₹0.33	+36.4%
ROE	0.7%	0.6%	1.5%	1.6%	—
ROCE	1.0%	0.8%	2.1%	2.2%	—
Free Cash Flow	₹0 Cr	-₹0 Cr	₹0 Cr	-₹0 Cr	—

🟢 Revenue has grown at 7.8% a year over 3 years.

🟢 EBITDA has grown at 20.5% a year over 3 years.

🟢 EBITDA Margin has risen from 43.2% to 60.4% over 3 years (+17.2 pts).

🟢 PAT (Net Profit) has grown at 35.7% a year over 3 years.

🟢 EPS has grown at 36.4% a year over 3 years.

🟡 ROE has held roughly flat at 1.6% over 3 years.

🟢 ROCE has risen from 1.0% to 2.2% over 3 years (+1.2 pts).

🔴 Free Cash Flow has turned negative, from ₹0 Cr to -₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹11 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

95.0%

Peer Comparison

Company	P/E	ROE
LARSEN & TOUBRO LTD.	30.1x	15.2%
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%

Recent News

2 mixed4 general

Golden Crest Education & Services Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

Golden Crest Education reappoints Lama, adds two directors at AGM

scanx.trade, 24 Aug

COMFINTE Stock Price and Chart — NSE:COMFINTE

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Veranda Learning Solutions Ltd. Share Price Rises 8.03%

Univest, 11 AugPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Q1 Results Today: DLF, Ather Energy, SBI Funds Management, CAMS Among 80+ Companies Reporting Earnings

NDTV Profit, 03 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

CSSL Stock Price and Chart — NSE:CSSL

TradingView, 08 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongBusiness Quality

MiddlingFinancial Health · Growth · Profitability

WeakValuation · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 2 high-severity red flags sit above this conclusion and should be read first.

2 of 5 tripwires tripped — Free cash flow remains positive; ROCE stays above 8% · see Key things to watch ↑