G G Engineering Limited Share Price

New Delhi-headquartered G G Engineering Limited manufactures and trades in iron and steel metals and engineering products. It also makes packaged food juice and beverages.

Incorporated on January 23, 2006, as G G Engineering Private Limited, the company began making diesel generator sets as the authorised original equipment assemblers of Ashok Leyland and Perkins engines.

On April 3, 2017, it was made a public limited company and renamed as G G Engineering Limited. The company then successfully floated an initial public offer and its shares were listed on BSE in 2017.

In the fourth quarter of FY22, GG Engineering Limited discontinued operations at its factory in Bharuch district of Gujarat that manufactured generator sets.

In FY23, the company took multiple capital restructuring initiatives. It went for a 1:2 share split, reducing the nominal value of each equity share to ₹1 from ₹2. The company increased its authorised share capital from ₹10.5 crore to ₹50 crore and issued 27.75 crore equity shares on rights basis. Consequently its share capital rose to ₹38.06 crore from ₹10.31 crore.

GG Engineering further boosted its authorised share capital to ₹90 crore divided into 90 crore equity shares of ₹1 each through a postal ballot resolution passed by the company’s shareholders on March 30, 2023.

On March 31, 2023, the promoter and promoter group controlled 1.93% of the company’s shares, while the public holding was a whopping 98.07%. The public shareholding comprised Indian resident individuals (77.08%), non-resident Indians (1.35%), corporate bodies (14.58%) and others (5.06%).

In FY23, GG Engineering sold its entire stake in its subsidiary Shashi Beriwal and Company Private Limited. As of March 31, 2023, the company has an associate GI Engineering Solutions Limited.

As of December 31, 2023, promoters hold 3.6% shares in the company, whereas the public holds 96.4% shares in the company.

The market capitalisation of GG Engineering is over ₹237 crore as of February 26, 2024. GG Engineering share price has declined over 70% in three years.

Business operations

The company produces structural steel, TMT steel bars, steel pipes for irrigation systems, TOR Steel, mild steel (MS) pipes, industrial and marine engines, diesel generator sets, packaged fruit juice and cold drinks.

GG Engineering’s iron and steel trading vertical operates from Ghaziabad in Uttar Pradesh. Its manufacturing plant in Haryana’s Sonipat district takes care of the food and beverage business.

GG Engineering’s products are used in various industrial sectors, including construction and infrastructure. A number of mega projects, modern buildings, high-rises and engineering establishments have utilised the company’s produce.

G G Engineering Limited Financial Highlights

• Revenue: G G Engineering Limited reported revenue of ₹115.27 crore in FY23 vs ₹22.97 crore in FY22. It showed an increase of 401.83% on a yearly basis.
• Operating Profit: G G Engineering Limited reported an operating profit of ₹8.94 crore in FY23 vs ₹0.42 crore in FY22. It showed an increase of 2,028.57% on a year-on-year basis.
• Net Profit: G G Engineering Limited reported a net profit of ₹8.10 crore in FY23 vs ₹0.61 crore in FY22. It showed an increase of 1,227.87% on a yearly basis.

G G Engineering Limited Quarterly Result Highlights

• G G Engineering Limited reported revenue of ₹18.57 crore in Jun 2023, compared with ₹30.29 crore in Mar 2023, representing a decrease of 38.69% on a quarter-on-quarter (QoQ) basis.
• G G Engineering Limited reported an operating profit of ₹0.67 crore in Jun 2023, compared with ₹5.61 crore in Mar 2023, representing a decrease of 88.06% on a quarter-on-quarter (QoQ) basis.
• G G Engineering Limited reported a profit of ₹0.51 crore in Jun 2023, compared with ₹4.78 crore in Mar 2023, reflecting a decrease of 89.33% on a QoQ basis.
• The earnings per share (EPS) of G G Engineering Limited stood at ₹0.34 during Jun 2023.