Author: Prashant Marathe
Date Published: May 21, 2025

📊 At a Glance

• Revenue (Q4): ₹312.99 Cr
• Net Profit (Q4): ₹8.36 Cr
• EPS (Q4): ₹0.32
• Equity Capital: ₹26.05 Cr
• CMP: ₹8.70
• EduFair Value (annualized): ₹13–₹16
  👉 Verdict: Legit business. Valuation? Still a maybe.

🏢 About the Company

Goyal Aluminiums Ltd manufactures:

• Aluminium profiles
• Structural materials
• EV battery enclosures (via associate Wroley E India Pvt Ltd)

Also recently:

• 🛵 Entered EV assembling
• ⚡ Began supplying to government contracts

Basically: a B2B metals company trying to wear an EV cape.

📉 Q4 FY25 Financial Snapshot

For a ₹300 Cr top-line, profit margins are thin — but real.

🧠 EduInvesting Take

“This is not a multibagger. But it’s not a scam either.”

In a world full of SME pump-and-dumps, Goyal Aluminiums:

• ✅ Files results on time
• ✅ Has positive net profit
• ✅ Clean auditor report
• ❌ But razor-thin margins
• ❌ Almost zero moat in core business

It’s not a fraud. But it’s not a fortress either.

🧮 EduFair Value (Based on Q4)

• EPS (Q4): ₹0.32
• Annualized EPS = ₹1.28
• P/E (Assign conservative 10x for microcaps):
  ✅ Fair Value = ₹13–₹16

CMP = ₹8.70 → ~40–80% upside if it re-rates.

⚠️ Risks

• 💸 Extremely thin margins = low buffer
• 🧾 EV narrative might be overdone
• 🧊 Liquidity risk — microcap with limited volume
• ⚖️ High promoter pledges in past (needs monitoring)

💸 CMP vs Reality

🏁 EduFinal Word

Goyal Aluminiums is:

• Real ✅
• Profitable ✅
• Scalable ❓
• Explosive ❌

Edu Verdict:
Buy only if you’re building a basket of smallcap industrials.
Not a scam. But not a 10x either.