Gokaldas Exports Limited (GOKEX) AI Stock Analysis

• Market Cap: ₹47.84B
• Dividend Yield: N/A
• Average Volume (3M): 30.57K
• Price to Earnings (P/E): 29.0
• Beta (1Y): 1.37
• Revenue Growth: 22.27%
• EPS Growth: 7.09%
• Country: IN
• Employees: 33,550
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 1.10
• Shares Outstanding: 73,239,876
• 10 Day Avg. Volume: 25,091
• 30 Day Avg. Volume: 30,565
• PEG Ratio: 10.30
• Price to Book (P/B): 2.95
• Price to Sales (P/S): 1.67
• P/FCF Ratio: -45.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: ₹648.00 ▼(-9.84% Downside)

The score is supported by strong recent revenue growth and improved operating efficiency, but is held back by weak cash flow (negative free cash flow) and deteriorating margins. Technical indicators are notably bearish with the stock below major moving averages and very weak momentum, while valuation is only middling given the P/E and lack of dividend data.

Positive Factors

Revenue Growth

A near 79% revenue jump reflects expanding order volumes and stronger take‑rates from global retail clients. Over 2–6 months this supports scale economics, deeper customer ties and bargaining leverage with suppliers, enabling sustained top‑line resilience if demand persists.

Operating Efficiency

A materially higher EBIT margin indicates improved production efficiency and fixed cost absorption from higher volumes. If structural, this enhances operating cash generation potential, makes the business more resilient to price pressure, and supports reinvestment capacity over time.

Stronger Capital Structure

Lower leverage and a higher equity ratio reduce financial risk and interest burden, increasing flexibility for capex, working capital, or opportunistic investment. A healthier balance sheet supports longer‑term growth plans and cushions external shocks to funding availability.

Negative Factors

Negative Free Cash Flow

Persistent negative FCF despite positive operating cash flow means heavy capital or working capital demands are draining liquidity. Over months this constrains debt reduction, dividend capacity and discretionary investment unless capex or receivables are managed down.

Sharp Gross Margin Decline

A pronounced fall in gross margin points to rising input costs or pricing pressure that erodes the core manufacturing spread. Structurally lower gross margins reduce buffer for SG&A and interest, making earnings more sensitive to volume cycles and commodity cost swings.

Weak Net Margin Conversion

Low net margin despite strong revenue suggests limited profit retention after operating costs, interest and tax. Over time this hampers internal cash buildup, leaves less room for reinvestment, and increases reliance on external funding to support growth or capex.

Gokaldas Exports Limited Business Overview & Revenue Model

Company Description

Gokaldas Exports Limited engages in the design, manufacture, and sale of various garments and related products in India and internationally. The company's products include outerwear, activewear, and fashionwear, such as shorts, trousers, and jackets for men, women, and children. It serves international fashion brands and retailers. The company also exports its products to approximately 50 countries. Gokaldas Exports Limited was founded in 1979 and is based in Bengaluru, India.

How the Company Makes Money

Gokaldas Exports generates revenue primarily through the export of finished garments to international markets, leveraging its strong relationships with major global retailers and brands. The company's revenue model is centered around contract manufacturing, where it produces apparel based on specific orders from clients, allowing for flexibility and responsiveness to market demands. Key revenue streams include sales from bulk orders, custom designs, and long-term partnerships with prominent brands in the fashion industry. Additionally, Gokaldas Exports benefits from its ability to streamline production processes and reduce costs, enhancing its competitiveness in pricing. The company also focuses on sustainability and ethical manufacturing practices, which appeal to a growing segment of environmentally conscious consumers and brands, further driving its revenue growth.

Gokaldas Exports Limited Financial Statement Overview

Summary

Gokaldas Exports Limited exhibits robust revenue growth and improved operational efficiency, as seen in the increased EBIT margin. However, challenges persist with maintaining high gross profit margins and managing capital expenditures efficiently. The balance sheet shows a strengthened equity position, but further improvement in cash flow management is essential to enhance financial stability.

Income Statement

Gokaldas Exports Limited has shown significant revenue growth from 2024 to 2025 with a 78.6% increase. The gross profit margin improved to 14.2% in 2025, compared to 47.8% in 2024. However, net profit margin slightly decreased to 4.0% from 6.0% the previous year. The EBIT margin increased to 18.8%, indicating improved operational efficiency. Despite strong revenue growth, the decline in gross profit margin signals increased cost of goods sold.

Balance Sheet

The company's debt-to-equity ratio improved from 0.62 in 2024 to 0.41 in 2025, reflecting a stronger equity position. Return on equity showed improvement, rising to 7.6% from 10.1% in 2024, highlighting better profitability relative to equity. The equity ratio increased to 58.9%, indicating a solid capital structure. While the debt levels have decreased, the need for further reduction remains to mitigate financial risk.

Cash Flow

Operating cash flow has turned positive in 2025, improving from the negative figure in 2024. However, free cash flow remains negative at -1.34 billion, indicating ongoing high capital expenditures. The free cash flow to net income ratio improved but remains negative, suggesting the company needs to manage its capital investments more effectively.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	38.88B	36.71B	21.93B	22.22B	17.90B	11.64B
Gross Profit	19.94B	19.10B	1.56B	10.33B	7.25B	5.15B
EBITDA	4.48B	4.24B	2.74B	3.02B	2.16B	1.08B
Net Income	1.73B	1.59B	1.31B	1.73B	1.17B	264.92M
Balance Sheet
Total Assets	0.00	35.37B	27.41B	13.42B	12.11B	9.90B
Cash, Cash Equivalents and Short-Term Investments	4.85B	4.85B	2.83B	3.69B	1.67B	520.71M
Total Debt	0.00	8.45B	8.05B	1.54B	1.93B	4.79B
Total Liabilities	-20.81B	14.56B	14.50B	4.56B	5.03B	7.00B
Stockholders Equity	20.81B	20.81B	12.91B	8.86B	7.08B	2.90B
Cash Flow
Free Cash Flow	0.00	-1.34B	-8.66B	2.33B	373.87M	824.87M
Operating Cash Flow	0.00	571.96M	-1.77B	3.69B	1.17B	1.19B
Investing Cash Flow	0.00	-4.21B	-5.37B	-2.91B	-522.92M	-322.22M
Financing Cash Flow	0.00	4.73B	7.53B	-754.32M	-430.17M	-862.32M

Gokaldas Exports Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 718.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GOKEX, the sentiment is Negative. The current price of 718.75 is below the 20-day moving average (MA) of 741.83, below the 50-day MA of 828.43, and below the 200-day MA of 842.76, indicating a bearish trend. The MACD of -54.13 indicates Positive momentum. The RSI at 23.77 is Positive, neither overbought nor oversold. The STOCH value of 21.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GOKEX.

Gokaldas Exports Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARVIND	73 Outperform	₹77.59B	18.86	―	1.18%	8.84%	41.74%
SPAL	67 Neutral	₹17.10B	15.47	―	0.28%	34.25%	28.44%
KKCL	66 Neutral	₹28.01B	21.57	―	0.41%	28.67%	-20.77%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
GOKEX	57 Neutral	₹47.84B	29.05	―	―	22.27%	7.09%
ARVINDFASN	56 Neutral	₹63.43B	-383.08	―	0.31%	10.72%	-115.52%
ALOKINDS	40 Underperform	₹78.70B	-11.38	―	―	-20.02%	25.52%

Gokaldas Exports Limited Corporate Events

Gokaldas Exports Schedules Investor Meetings to Strengthen Market Engagement

Gokaldas Exports Limited has announced a schedule of meetings with institutional investors and research analysts, set to take place on November 20, 2025, in Mumbai. This initiative is part of the company’s efforts to engage with key stakeholders, potentially impacting its market positioning and investor relations positively.