GWLC Gharibwal Cement Limited

Gharibwal Cement Limited (GWLC) financial ratios

Gharibwal Cement Limited earned a net margin of 10.5% in FY2026 against a five-year average of 9.3% (Cement median 12.5%). Return on equity was 8.7%, compared with a sector median of 15.4%. The current ratio stood at 2.47× and debt was 3.6% of equity. Cash took about 49 days to cycle through receivables, inventory and payables.

FY2026 vs the Cement median

Gross margin: 18.9%; Sector median 26.5%
Operating margin: 14.0%; Sector median 19.4%
Net margin: 10.5%; Sector median 12.5%
Return on equity (ROE): 8.7%; Sector median 15.4%
Return on assets (ROA): 5.9%; Sector median 8.0%
Current ratio: 2.47×; Sector median 1.19×
Debt to equity: 3.6%; Sector median 34.0%
Asset turnover: 0.56×; Sector median 0.56×
Dividend payout ratio: 17.1%; Sector median 6.6%

Median of the 19 companies in the sector with the figure for their latest fiscal year.

GWLC financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 * Jul 2006 – Jun 2007
Profitability
Gross margin	18.9%	23.4%	20.8%	20.7%	23.4%	26.2%	1.0%	23.3%	23.6%	34.3%	39.7%	30.9%	27.5%	27.2%	19.9%	5.0%	(19.8%)	9.6%	—	(36.1%)
EBITDA margin	19.9%	24.4%	22.5%	20.5%	24.3%	30.0%	7.1%	26.0%	27.3%	35.7%	40.8%	34.1%	30.8%	28.9%	22.5%	6.9%	(31.2%)	12.6%	—	(28.2%)
Operating margin	14.0%	17.6%	15.1%	15.2%	18.0%	21.2%	(3.7%)	17.3%	19.0%	29.3%	34.4%	27.0%	23.9%	23.4%	16.0%	(2.9%)	(42.6%)	2.7%	—	(50.7%)
Pre-tax margin	15.3%	18.2%	15.5%	14.8%	17.0%	18.9%	(6.4%)	12.2%	15.5%	27.1%	35.1%	21.8%	16.5%	17.3%	(3.9%)	(28.1%)	(100.0%)	(35.2%)	—	(38.7%)
Net margin	10.5%	11.2%	9.6%	6.7%	8.4%	12.8%	1.5%	6.5%	13.1%	20.3%	25.5%	13.4%	9.9%	17.0%	(4.9%)	(29.2%)	(47.2%)	(36.2%)	—	(43.2%)
Effective tax rate	31.4%	38.3%	38.0%	54.6%	50.8%	32.2%	—	46.6%	15.4%	25.0%	27.4%	38.6%	39.8%	1.4%	—	—	—	—	—	—
Returns
Return on equity (ROE)	8.7%	8.8%	7.5%	6.3%	8.3%	10.3%	1.0%	5.9%	12.6%	21.3%	30.5%	18.6%	16.6%	32.0%	(8.4%)	(27.6%)	(33.5%)	(36.7%)	(17.6%)	(7.3%)
Return on assets (ROA)	5.9%	5.8%	4.8%	4.0%	5.1%	5.9%	0.5%	3.2%	6.8%	11.5%	15.8%	8.3%	6.0%	8.3%	(1.9%)	(7.6%)	(8.3%)	(8.2%)	(4.9%)	(3.0%)
Return on invested capital (ROIC)	8.7%	8.9%	7.9%	6.2%	7.6%	8.9%	—	5.5%	10.7%	16.4%	23.4%	15.4%	11.9%	17.9%	—	—	—	—	—	—
Liquidity
Current ratio	2.47×	2.56×	2.27×	1.61×	1.77×	1.32×	1.11×	1.10×	0.71×	0.66×	0.84×	0.48×	0.50×	0.40×	0.25×	0.18×	0.17×	0.22×	0.63×	0.70×
Quick ratio	1.62×	0.97×	0.78×	0.66×	0.66×	0.73×	0.62×	0.56×	0.28×	0.25×	0.46×	0.15×	0.12×	0.13×	0.12×	0.10×	0.07×	0.10×	0.44×	0.65×
Leverage
Debt to equity	3.6%	3.5%	4.8%	2.1%	8.9%	16.6%	22.7%	32.1%	34.7%	39.6%	38.6%	34.7%	52.8%	126.4%	189.1%	170.5%	128.5%	333.0%	226.6%	197.7%
Debt to capital	3.5%	3.3%	4.6%	2.1%	8.1%	14.2%	18.5%	24.3%	25.8%	28.4%	27.9%	25.7%	34.5%	55.8%	65.4%	63.0%	56.2%	76.9%	69.4%	66.4%
Debt to assets	2.4%	2.3%	3.1%	1.3%	5.7%	9.8%	12.9%	17.2%	19.0%	20.8%	21.6%	16.3%	21.9%	38.0%	41.4%	41.2%	39.8%	59.4%	61.7%	57.2%
Assets to equity	1.49×	1.52×	1.56×	1.56×	1.62×	1.72×	1.81×	1.85×	1.86×	1.85×	1.93×	2.25×	2.76×	3.84×	4.34×	3.62×	4.01×	4.47×	3.56×	2.40×
Efficiency
Asset turnover	0.56×	0.52×	0.50×	0.60×	0.61×	0.46×	0.36×	0.49×	0.52×	0.57×	0.62×	0.62×	0.61×	0.49×	0.40×	0.26×	0.18×	0.23×	0.00×	0.07×
Receivable days days	26	25	27	23	25	34	45	29	25	23	16	13	13	16	20	30	68	80	—	67
Inventory days days	104	140	121	106	113	110	100	97	83	73	75	81	69	53	43	52	80	85	983	109
Payable days days	80	83	90	77	89	146	115	79	65	71	62	32	33	34	36	57	81	81	2,154	211
Cash conversion cycle days	49	82	58	52	48	(3)	29	47	43	24	29	62	49	35	27	26	67	83	(1,177)	(36)
Dividends
Dividend payout ratio	17.1%	18.2%	0.0%	32.5%	0.0%	19.4%	152.4%	81.5%	39.8%	52.6%	37.3%	0.0%	0.0%	0.0%	—	—	—	—	—	—
Earnings retention rate	0.83×	0.82×	1.00×	0.68×	1.00×	0.81×	(0.52×)	0.18×	0.60×	0.47×	0.63×	1.00×	1.00×	1.00×	—	—	—	—	—	—

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

GWLC: frequently asked questions

What is GWLC's EPS?

Gharibwal Cement Limited reported basic earnings per share of Rs 5.86 for FY2026 (Jul 2025 – Jun 2026).

What is GWLC's P/E ratio?

At the closing price of Rs 45.72 on 16 Oct 2026, GWLC trades at a P/E of 7.8× based on EPS of Rs 5.86 (FY2026).

Does GWLC pay dividends?

Gharibwal Cement Limited did not declare a cash dividend for FY2026.

What was GWLC's revenue and profit in FY2026?

Gharibwal Cement Limited reported revenue of Rs 22.3 bn and profit attributable to shareholders of Rs 2.3 bn for FY2026 (Jul 2025 – Jun 2026).

What is GWLC's book value per share?

Gharibwal Cement Limited's book value per share was Rs 70.05 at the end of FY2026. The shares trade at 0.65× book value.

Information only, not investment advice.