Gyan Developers and Builders Limited

Real Estate — Real Estate Services · BSE

₹49.00−₹2.55 (−4.95%)

DalalBaazaar Score

43 / 100

🟡 Moderate

Verdict

CAUTION

Risk

Very High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

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

What does this company do?

Gyan Developers and Builders Limited engages in buying and selling vacant land in India.

IndustryReal Estate Services

SectorReal Estate

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-0 reaches shareholders as profit, with ₹-114 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY 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 ROE10.3%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +29% 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+29%

Margin effect-100%

DalalBaazaar Score

43/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROCE of -2.2% is below 10% — capital is not working hard
• ROCE has been broadly stable
✗ EBITDA margin of -114.2% is thin — little cushion if costs rise
✗ The business is lossmaking at the net level
• Revenue has compounded at 8.7% a year, which is the base these returns are earned on

Quality vs. Valuation

Company Quality

45/ 100

Average

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

Valuation

29/ 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.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from -203.7% to -114.2% over 3 years.
Return on equity is rising
ROE has improved from -4.0% to -0.0%.

🔴 What Needs Attention0

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

Red Flags

2 items require attention · 1 high · 1 watch

🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹2 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -203.7% to -114.2%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
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

1EBITDA margin holds above -116%✓ -114.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹2 Cr
Profit that never becomes cash eventually stops being profit.
3Revenue growth stays above 7% a year✓ 8.7% CAGR
Latest reported year was -97.4%. 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.

Investment Checklist

4 / 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

0 good · 4 neutral · 7 weak

Market Cap

₹15 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

3.12x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-0.59

Loss-making

Negative earnings per share — the business is losing money

ROE

-1.0%

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)

-97.4%

Shrinking

Sales are contracting

Profit Growth (YoY)

-100.0%

Falling

Profits are shrinking

Dividend Yield

None

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

Free Cash Flow

-₹2 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

204.91

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.12

Defensive

Steadier than the market

52W Range Position

54%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

54.0 / 51.9

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

12.7

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	₹1 Cr	₹4 Cr	₹0 Cr	+8.7%
EBITDA	-₹0 Cr	₹0 Cr	₹1 Cr	-₹0 Cr	—
EBITDA Margin	-203.7%	26.6%	39.1%	-114.2%	—
PAT (Net Profit)	-₹0 Cr	₹0 Cr	₹1 Cr	-₹0 Cr	—
EPS	₹-0.49	₹0.47	₹3.2	—	—
ROE	-4.0%	3.7%	20.2%	-0.0%	—
ROCE	-4.0%	3.8%	28.8%	-2.2%	—
Free Cash Flow	-₹0 Cr	₹0 Cr	₹2 Cr	-₹2 Cr	—

🟢 Revenue has grown at 8.7% a year over 3 years.

🟢 EBITDA Margin has risen from -203.7% to -114.2% over 3 years (+89.5 pts).

🟢 ROE has risen from -4.0% to -0.0% over 3 years (+4.0 pts).

🟢 ROCE has risen from -4.0% to -2.2% over 3 years (+1.7 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹5 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹2 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

58.1%

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

1 positive1 mixed4 general

Arham Global raises Gyan Developers stake to 19.34% via off-market deal

scanx.trade, 20 Aug

Gyan Developers promoters sell 10.27% stake to Pushp Jain

scanx.trade, 02 Sept

Emmvee Photovoltaic Power consolidated net profit rises 102.64% in the June 2026 quarter

Business Standard, 16 JulResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

GYAN DEVELOPERS & BUILDERS LTD Share Price

Upstox, 26 Jul

Q1 results 2026: Groww to Union Bank among companies to declare Q1 results today; full list here

Livemint, 15 JulResults

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

Stock Alert: Angel One, HDFC Life Insurance Company, Artson, ICICI Prudential Life Insurance Company

Business Standard, 16 Jul

Watch Items

Revenue growth is negative (-97.4%) on the latest reported period — check if this is one-off or a trend.
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 oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

MiddlingFinancial Health · Growth

WeakBusiness Quality · Profitability · Valuation · 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. 1 high-severity red flag sits above this conclusion and should be read first.

2 of 4 tripwires tripped — Free cash flow remains positive; ROCE stays above 8% · see Key things to watch ↑