Automobile Corporation of Goa financials and balance sheet

NSE: ACGLBSE: 505036Auto ComponentsSmall Cap

₹1,713.10₹1.40 (0.08%)BSE ₹1,716.60

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,711.70.

52-week range of BSE trades to 23 Oct 2026

₹1,410.50Low, 30 Mar 2026₹2,403.00High, 14 Jul 2026

Market cap: ₹1,043 Cr1,424th largest listed
P/E: 18.4
P/B: 3.3
Dividend yield: 1.61%
ROE: 19.0%
ROCE: 18.6%
Debt to equity: 0.04
Volume, NSE: 9,45480.0% delivered

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Automobile Corporation of Goa annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in 1 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.1% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

Revenue934
Materials and goods−657
Employee costs−54
Other expenses−138
Operating profit86
Depreciation−5.7
Other income+18
One-off items−3.3
Finance costs−0.1
Profit before tax94
Tax−24
Net profit70

What the company owns

Cash and bank₹213 Cr
Plant, investments and other assets₹115 Cr
Inventory₹68 Cr
Receivables₹63 Cr

What pays for it: net worth and liabilities

Net worth₹309 Cr
Owed to suppliers₹109 Cr
Other liabilities₹32 Cr
Borrowings₹9 Cr

Automobile Corporation of Goa business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them.Automobile Corporation of Goa segment results by quarter

Revenue by segment

₹934 CrTotal

Bus body segment₹855 Cr91.6% of total
Pressing segment₹79 Cr8.4% of total

Profit by segment

Bus body segment₹78.7 Cr92.8% of total
Pressing segment₹6.1 Cr7.2% of total

Segment results by year

Standalone, ₹ crore, years to March.

Bus body segment
Revenue, ₹ crore
317
276
78
218
438
511
592
855
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
11
8
−23
−8
28
40
48
79
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Pressing segment
Revenue, ₹ crore
73
69
79
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
2
4
6
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	427	334	116	282	506	584	661	934
Company revenue, as in its results	426	333	116	282	506	584	661	934
Revenue	317	276	78	218	438	511	592	855
Revenue growth	–	−12.9%	−71.9%	181.1%	100.9%	16.6%	15.8%	44.4%
Profit	11	8	−23	−8	28	40	48	79
Profit growth	–	−28.7%	–	–	–	42.2%	18.9%	64.6%
Margin	3.6%	2.9%	−29.6%	−3.6%	6.5%	7.9%	8.1%	9.2%
Return on capital	17.3%	17.4%	−2,039.7%	−32.6%	120.6%	383.4%	135.1%	114.1%
Assets	138	113	−4	123	153	150	227	202
Liabilities	73	66	−5	99	130	140	192	133
Capital employed	66	46	1	24	23	10	35	69
Revenue	–	–	–	–	–	73	69	79
Revenue growth	–	–	–	–	–	–	−5.8%	14.4%
Profit	–	–	–	–	–	2	4	6
Profit growth	–	–	–	–	–	–	86.9%	44.1%
Margin	–	–	–	–	–	3.1%	6.2%	7.8%
Return on capital	–	–	–	–	–	7.1%	13.6%	19.4%
Assets	–	–	–	–	–	41	44	41
Liabilities	–	–	–	–	–	9	12	10
Capital employed	–	–	–	–	–	32	31	31
Revenue	109	57	38	64	68	–	–	–
Revenue growth	–	−47.7%	−33.5%	67.2%	6.8%	–	–	–
Profit	13	1	0	3	3	–	–	–
Profit growth	–	−94.1%	–	–	0.7%	–	–	–
Margin	11.8%	1.3%	−0.5%	4.8%	4.5%	–	–	–
Return on capital	37.0%	2.1%	−6.2%	9.9%	9.7%	–	–	–
Assets	46	42	7	46	40	–	–	–
Liabilities	11	6	4	15	8	–	–	–
Capital employed	35	35	3	31	32	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Standalone, ₹ crore, years to March.Automobile Corporation of Goa quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 29 May	Mar 2021Filed 8 May	Mar 2022Filed 12 May	Mar 2023Filed 16 May	Mar 2024Filed 10 May	Mar 2025Filed 10 Jun	Mar 2026Filed 5 May
Revenue from operations	501	500	426	333	116	282	506	584	661	934
	470	471	395	323	137	275	475	542	608	848
Materials and goods bought	312	333	275	219	75	200	357	407	464	657
Employee costs	–	–	47	46	40	39	47	48	49	54
Other expenses	–	–	73	59	22	35	71	86	95	138
Operating profit before depreciation	31	29	31	10	−22	7	31	43	52	86
Operating margin	6.1%	5.8%	7.4%	2.9%	−18.6%	2.5%	6.1%	7.3%	7.9%	9.2%
Materials, % of revenue	–	–	64.6%	65.7%	64.8%	71.1%	70.6%	69.7%	70.2%	70.3%
Employee costs, % of revenue	–	–	11.0%	13.7%	34.7%	13.9%	9.3%	8.2%	7.4%	5.8%
Other expenses, % of revenue	–	–	17.1%	17.7%	19.1%	12.4%	14.1%	14.7%	14.4%	14.7%
Depreciation and amortisation	6	5	5	5	5	5	5	5	5	6
Operating profit after depreciation	25	23	26	4	−27	2	26	38	48	80
Other income	8	8	10	10	10	7	8	13	15	18
Finance costs	0	0	0	0	0	0	0	0	0	0
Profit before one-off items and tax	32	31	36	15	−16	9	34	51	63	97
One-off items	–	1	−4	−1	0	−6	3	0	0	−3
Profit before tax	32	33	32	13	−16	3	37	51	63	94
	11	13	11	3	−4	0	9	13	16	24
Current tax	–	13	13	5	0	0	3	12	15	24
Deferred tax	–	0	−2	−2	−4	0	6	0	1	0
Net profit	21	20	21	10	−13	3	28	38	47	70
Other comprehensive income	–	–	−1	0	1	−1	−2	−1	0	0
Total comprehensive income	–	–	20	10	−12	2	26	37	47	70
Net margin	4.2%	4.0%	4.9%	3.0%	−10.8%	1.2%	5.5%	6.6%	7.1%	7.5%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Standalone, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019Filed 14 May	Mar 2020Filed 29 May	Mar 2021Filed 8 May	Mar 2022Filed 12 May	Mar 2023Filed 16 May	Mar 2024Filed 10 May	Mar 2025Filed 10 Jun	Mar 2026Filed 5 May	Sep 2026Half yearFiled 21 Oct
	210	182	167	169	194	219	254	309	318
Share capital	6	6	6	6	6	6	6	6	6
Reserves	204	175	161	163	188	213	248	303	312
Borrowings	0	0	17	42	72	62	85	9	14
	78	69	61	109	132	141	197	135	143
Trade payables	61	55	34	0	51	65	94	109	116
Other financial liabilities	6	3	4	57	2	3	3	5	3
Other liabilities	7	5	4	7	3	7	8	5	4
Provisions	3	5	2	3	4	3	6	6	6
Tax owed	1	0	0	0	0	0	2	1	0
	12	9	6	8	10	13	14	15	17
Other financial liabilities	–	1	1	1	1	1	–	1	–
Other liabilities	–	0	0	–	0	–	1	–	1
Provisions	9	8	5	8	7	10	10	11	13
Deferred tax	3	1	0	–	2	2	3	3	3
Total assets	300	260	234	286	336	373	465	459	479
	68	65	62	60	63	61	68	99	115
Plant in use, after depreciation	56	60	55	50	49	51	61	69	–
Plant being built	7	0	0	0	0	1	1	25	–
Intangible assets	0	0	0	0	0	0	1	1	2
Intangible assets being developed	–	0	0	0	0	–	–	–	–
Property held to earn rent	–	0	0	0	0	0	0	0	0
Loans given	0	1	0	0	5	0	0	0	0
Other financial assets	–	2	1	1	1	6	1	4	1
Deferred tax	2	3	2	3	–	2	2	–	3
Other assets	2	–	3	6	8	2	2	–	2
	232	195	172	226	273	312	397	360	364
Inventories	47	40	39	40	51	49	56	68	72
Trade receivables	68	49	24	72	81	77	132	63	107
Cash and cash equivalents	2	10	0	6	1	29	36	121	42
Other bank balances	2	2	1	1	29	12	36	92	130
Current investments	7	6	9	11	0	0	120	0	0
Loans given	100	82	95	91	98	133	0	2	0
Other financial assets	3	4	1	2	4	2	2	13	1
Other assets	3	2	2	3	9	9	15	–	12
Net debt	−11	−18	6	24	42	21	−107	−205	−158

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021Filed 8 May	Mar 2022Filed 12 May	Mar 2023Filed 16 May	Mar 2024Filed 10 May	Mar 2025Filed 10 Jun	Mar 2026Filed 5 May	Sep 2026Half yearFiled 21 Oct
	−16	−29	−4	61	10	136	−21
	−16	−27	1	68	36	159	−3
	–	−28	−34	23	−31	73	−39
Receivables	–	−48	−9	4	−55	69	−45
Inventories	–	0	−11	1	−7	−12	−4
Payables	–	21	−5	15	29	15	6
Other working capital	–	−1	−9	3	2	1	3
Tax paid	–	−2	−5	−7	−14	−23	−12
Capital spending	–	0	4	6	16	37	18
Free cash flow	−16	−29	−8	54	−7	99	−39
	–	9	−29	−11	−14	41	−50
Plant and property sold	–	0	0	0	0	0	0
Interest received	–	5	4	12	15	14	6
Dividends received	–	1	0	0	0	0	0
	–	25	28	−22	11	−92	−8
Borrowings raised	–	0	0	0	23	0	5
Borrowings repaid	–	25	30	−10	0	−76	0
Interest paid	–	0	0	0	0	0	0
Lease payments	–	0	0	0	0	0	0
Dividends paid	–	0	2	12	12	15	14
Shares bought back	–	0	0	0	0	0	0
Shares issued	–	0	0	0	0	0	0
Net change in cash	−16	6	−5	28	7	85	−79

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Standalone, ₹ per share, years to March.Automobile Corporation of Goa dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 29 May	Mar 2021Filed 8 May	Mar 2022Filed 12 May	Mar 2023Filed 16 May	Mar 2024Filed 10 May	Mar 2025Filed 10 Jun	Mar 2026Filed 5 May
Earnings per share	₹32.67	₹31.39	₹32.49	₹15.81	−₹20.54	₹5.65	₹45.73	₹63.02	₹76.54	₹114.79
Diluted earnings per share	₹32.67	₹31.39	₹32.49	₹15.81	−₹20.54	₹5.65	₹45.73	₹63.02	₹76.54	₹114.79
Dividend per share	₹17.50	₹17.50	₹17.50	₹10.00	–	–	₹17.50	₹20.00	₹25.00	₹27.50
Book value per share	–	–	₹327.56	₹298.23	₹273.89	₹277.45	₹318.14	₹359.60	₹416.75	₹506.84
Dividend payout	53.6%	55.8%	53.9%	61.1%	–	–	38.3%	31.7%	32.7%	24.0%
Shareholder yield	–	–	–	–	–	0.0%	0.4%	0.9%	1.6%	1.7%
Market cap at the year end (₹ crore)	407	716	360	179	248	569	437	1,317	773	886

Ratios

Standalone, years to March.Automobile Corporation of Goa PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 29 May	Mar 2021Filed 8 May	Mar 2022Filed 12 May	Mar 2023Filed 16 May	Mar 2024Filed 10 May	Mar 2025Filed 10 Jun	Mar 2026Filed 5 May
Revenue growth	–	–	–	−21.8%	−65.3%	143.5%	79.6%	15.4%	13.1%	41.3%
Operating profit growth	–	−5.6%	8.8%	−69.0%	–	–	338.6%	38.1%	22.3%	63.8%
Net profit growth	–	−3.9%	3.5%	−52.3%	–	–	709.2%	37.8%	21.5%	50.0%
Earnings per share growth	–	−3.9%	3.5%	−51.3%	–	–	709.4%	37.8%	21.5%	50.0%
	–	–	9.9%	5.1%	−7.2%	2.1%	15.4%	18.6%	19.7%	24.9%
	–	–	–	−4.8 pts	−12.3 pts	9.2 pts	13.3 pts	3.2 pts	1.1 pts	5.1 pts
From the net margin	–	–	–	−3.9 pts	−23.5 pts	8.0 pts	7.2 pts	3.0 pts	1.4 pts	1.2 pts
From asset turnover	–	–	–	−1.0 pts	11.1 pts	1.1 pts	4.6 pts	0.2 pts	−0.9 pts	5.9 pts
From borrowing	–	–	–	0.0 pts	0.1 pts	0.2 pts	1.5 pts	0.0 pts	0.6 pts	−2.0 pts
Return on capital employed	–	–	12.4%	2.5%	−14.5%	1.0%	9.9%	13.5%	14.1%	25.2%
Cash conversion	–	–	–	–	–	−832.2%	−15.4%	158.9%	20.9%	194.8%
Interest cover	99.7	60.7	180.7	24.2	–	22.2	318.5	445.7	529.9	624.0
Debt to equity	–	–	0.00	0.00	0.10	0.25	0.37	0.28	0.34	0.03
Receivable days	–	–	58	54	75	93	58	48	73	25
Inventory days	–	–	62	66	192	72	52	44	44	38
Payable days	–	–	81	91	166	0	52	59	74	61
Cash conversion cycle, days	–	–	39	29	102	166	58	33	43	2
Working capital days	–	–	123	119	368	183	132	120	51	8
Asset turnover	–	–	1.42	1.19	0.47	1.08	1.63	1.65	1.58	2.02
Assets per rupee of net worth	–	–	1.43	1.43	1.42	1.55	1.72	1.72	1.77	1.64
Sales per rupee of plant	–	–	7.68	5.59	2.11	5.62	10.41	11.45	10.78	13.52
Capital spending to depreciation	–	–	–	–	–	0.08	0.77	1.30	3.56	6.52
Plant being built, % of plant in use	–	–	13.3%	0.1%	0.0%	0.0%	0.9%	1.3%	1.9%	36.4%

Revenue growth is left blank for the years to Mar 2018 and Mar 2019: between the two periods excise duty was taken out of revenue when GST replaced it, so the two are on different bases and the change is not worked out. Interest cover is left blank for the year to Mar 2021: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year: 15.1%
Cash from operations against operating profit: 158.9%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	51.8%	22.6%
Profit growth, yearly rate	–	–	35.9%
Return on equity, average	–	16.1%	21.1%
Return on capital employed, average	–	12.7%	17.6%
Operating margin, average	3.7%	6.6%	8.1%
Net margin, average	3.3%	5.6%	7.0%
Asset turnover, average	–	1.59	1.75
Cash conversion cycle, days, average	–	60	26
Interest cover, average	256.2	388.0	533.2
Debt to equity, average	–	0.25	0.22

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	174	207	136
Cash from investing	−3	16	41
Cash from financing	−49	−103	−92
Capital spending	64	60	37
Dividends paid	41	40	15
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	23	23	0
Borrowings repaid	141	86	76

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	2	4	5	7	5	7
Altman Z-scorePublished threshold 1.81	–	–	5.75	4.36	4.00	5.22	4.99	8.50	5.32	7.76
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.61	−0.40	−1.60	−2.92	−1.68	−1.91
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	–	8.87	19.51	−3.35	12.11	−23.18
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	−2.62	0.40	0.59	1.34
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−5.08	13.48	58.74	−67.20	−20.98	58.60	−93.60
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	4.37	65.54	−166.48	−51.26	−16.72	0.07	−20.03
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−0.22	−2.36	0.72	1.62	−0.30	0.89	−0.45
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.01	0.00	0.00	0.14	0.09	0.08	1.87
Effective tax ratePublished threshold 17.16 per cent	35.32	38.50	34.24	25.29	–	−2.90	24.98	24.86	25.43	25.76
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−63.27	10.57	10.66	3.01	1.19

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
8 Oct 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - LT/ ST-BG/LC	CARE AA- / CARE A1+Review, Re-affirm	Stable	8
8 Oct 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT/ ST-Working Capital Limits	CARE AA- / CARE A1+Review, Re-affirm	Stable	32
4 Sep 2025	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash CreditLong-term scale	CARE AA-Review, Re-affirm	Stable	5
4 Sep 2025	CARE Ratings Limited (opens in a new tab)	Non-fund-based - ST-BG/LCShort-term scale	CARE A1+Review, Re-affirm		8

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.