Gulf Lloyds (India) Limited

Gulf Lloyds (India) Limited is launching an SME Initial Public Offering (IPO) on the BSE SME platform.

ipoind.com

Here are the fundamental details, financial performance metrics, and the current Grey Market Premium (GMP) for the company.

1. IPO & Company Overview

Incorporated in 2014, Gulf Lloyds operates in the service sector, providing independent Third-Party Inspection, Auditing, Certification, Testing, and Training services. Its client base spans multiple sectors including Oil & Gas, Marine, Power, Mining, Manufacturing, and Infrastructure both in India and internationally.

Key Dates & Issue Details

  • IPO Opening Date: July 20, 2026

  • IPO Closing Date: July 22, 2026

  • Allotment Finalization: July 23, 2026

  • Tentative Listing Date: July 27, 2026 (BSE SME)

  • Issue Price: ₹100 per share (Fixed Price Issue)

  • Lot Size: 1,200 shares

  • Minimum Investment (Retail): ₹2,40,000 (Requires bidding for 2 lots / 2,400 shares depending on broker configurations)

  • Total Issue Size: ₹18.19 Crore (Entirely a Fresh Issue)

2. Fundamental & Financial Highlights

The company has shown stable growth over the past few fiscal years, though its cash flow operations bear close watching.

Key Financials (in ₹ Crores)

Financial Year Total Income / Revenue Profit After Tax (PAT) Total Borrowings Net Worth
FY26 ₹35.97 Cr ₹4.30 Cr ₹15.68 Cr ₹13.48 Cr
FY25 ₹35.88 Cr ₹4.67 Cr ₹8.94 Cr ₹9.33 Cr
FY24 ₹23.51 Cr ₹1.68 Cr ₹6.94 Cr ₹4.66 Cr

Key Performance Indicators (KPIs)

  • EBITDA Margin: 21.97%

  • PAT Margin: ~11.95%

  • Return on Equity (ROE): 37.49%

  • Return on Capital Employed (ROCE): 24.88%

  • Debt-to-Equity Ratio: 1.15x

  • Post-Issue P/E Ratio: ~15.64x

Strengths & Risks

  • Strengths: Diverse client base reduces concentration risk; a robust project pipeline (over 100 ongoing projects); accredited and compliance-driven processes.

  • Risks: High working-capital needs due to delayed or retained client payments; heavily dependent on external, NABL-accredited labs for heavy testing; borrowings have risen notably over the past year.

3. Grey Market Premium (GMP)

As of July 16, 2026, the unofficial market indicates a mild response:

  • Current GMP: ~₹6 per share

  • Estimated Listing Price: ₹106 per share

  • Expected Listing Gain/Premium: ~6.00%

> Note: Grey Market Premium (GMP) is an entirely unofficial and unregulated trading metric. It serves as a sentiment gauge but should not be relied upon as a guarantee for actual stock performance or the final listing price.

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