1. At a Glance
Gujarat Lease Financing Ltd (GLFL) is basically a finance company that forgot the “finance” part. No operations, no revenue, and a P/E that looks like a hotline number. At ₹6.61 per share and a book value of negative ₹1.50, this is not deep value — it’s just deep.
2. Introduction with Hook
Imagine running a restaurant that hasn’t served food for 10 years but still keeps printing menus. That’s GLFL — once a lease financing firm, now a walking corporate zombie with ₹0 sales for several quarters, a P/E of 299 (LOL), and net losses that won’t quit. They just posted a Q1 FY26 loss of ₹5.86 lakh and proudly announced: “No operations planned.” We love the honesty.
3. Business Model (WTF Do They Even Do?)
GLFL was formerly into lease financing. Since then:
- It merged its three subsidiaries into itself.
- Stopped all business activities.
- Continues existing purely to test if a company can survive on vibes and auditors alone.
Basically, it’s a non-banking finance company with no finance and no company.
4. Financials Overview
A chart-topping P/E of 299 on a stock that generates ₹0 revenue should be illegal. But here we are:
| Metric | FY25 |
|---|---|
| Revenue | ₹0.42 Cr |
| Net Profit | ₹0.06 Cr |
| EBITDA | Negative for most years |
| OPM | Fluctuates between “lol” and “why” |
| ROCE | 1.02% |
| Book Value | ₹-1.50 |
This is not a company with earnings. This is a company with echoes of earnings.
5. Valuation
GLFL is currently valued at:
- Market Cap: ₹17.9 Cr
- Fair Value (based on wishful thinking): ₹0.5–2.5
(P/E and EV/EBITDA throw up errors when applied to negative earnings. DCF starts crying.)
If you’re using a P/E of 299 to justify your investment, you’re either Elon Musk or dangerously optimistic.
6. What’s Cooking – News, Triggers, Drama
Recent Update:
- Q1 FY26 Loss: ₹5.86 lakh
- Statement: “No business operations planned.”
- Drama: None. Unless “continued existence” counts.
Basically, this is the “no new episodes” screen of corporate India.
7. Balance Sheet
The balance sheet looks like this:
| Component | FY25 (₹ Cr) |
|---|---|
| Equity Capital | 27.16 |
| Reserves | -31.22 |
| Borrowings | 10.00 |
| Other Liabilities | 0.42 |
| Net Worth | -4.06 |
Narrator voice: “The liabilities had finally caught up.”
8. Cash Flow – Sab Number Game Hai
| Year | Ops (₹ Cr) | Inv (₹ Cr) | Fin (₹ Cr) | Net Flow |
|---|---|---|---|---|
| FY23 | 0.19 | 0.28 | 0.00 | 0.47 |
| FY24 | -0.91 | 0.40 | 0.00 | -0.51 |
| FY25 | -0.38 | 0.41 | 0.00 | 0.03 |
Cash flow is like your friend’s gym membership — technically exists, but no one’s really using it.
9. Ratios – Sexy or Stressy?
| Ratio | FY25 |
|---|---|
| ROCE | 1.02% |
| ROE | NA (negative NW) |
| PAT Margin | NA |
| Debt/Equity | Technically undefined |
| P/E | 299 |
This company breaks ratio logic. Even the Excel sheet is like “Why are we doing this?”
10. P&L Breakdown – Show Me the Money
| Year | Revenue | EBITDA | PAT |
|---|---|---|---|
| FY23 | ₹0.29 Cr | ₹0.00 Cr | ₹0.19 Cr |
| FY24 | ₹0.41 Cr | ₹0.02 Cr | ₹0.09 Cr |
| FY25 | ₹0.42 Cr | ₹0.06 Cr | ₹0.06 Cr |
PAT is a rounding error. Revenue is smaller than some people’s Swiggy budgets.
11. Peer Comparison
| Company | Rev (Cr) | PAT (Cr) | P/E |
|---|---|---|---|
| CRISIL | 3380.9 | 727.6 | 55.6 |
| Centrum Capital | 3503.4 | -168.4 | NA |
| Algoquant Fin | 234.7 | 31.9 | 59.6 |
| GLFL (This Stock) | 0.42 | 0.06 | 299 |
GLFL looks like the sober one at a rave where everyone else is either flexing or failing with style.
12. Miscellaneous – Shareholding, Promoters
| Shareholding | % (Jun 2025) |
|---|---|
| Promoters | 45.67% |
| Public | 54.30% |
| FIIs/DIIs | 0.01% |
The number of shareholders (29,757) is impressive for a company with no business. We assume many didn’t read the fine print.
No FPO, no anchor investors, no buzz — just background static.
13. EduInvesting Verdict™
GLFL is a corporate relic floating in regulatory purgatory — it has a market cap, a ticker, and even quarterly board meetings… but no business. This isn’t a turnaround bet. It’s more like an archaeological investment.
“A decent pit stop for corporate historians. But don’t expect revenue. Or profit. Or sanity.”
Metadata:
Written by EduInvesting Team | 25 July 2025
Tags: Gujarat Lease Financing, GLFL, NBFC, Corporate Relic, EduInvesting Premium
