Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹23Cr
Domestic Appliances - Cookers/Others
Rev Gr TTM
Revenue Growth TTM
-22.90%
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -4.1 | -12.6 | -4.9 | -13.0 | 46.1 | 31.0 | 3.2 | 20.5 | -37.9 | 10.6 | -30.0 | -29.9 |
| 9 | 7 | 11 | 11 | 11 | 10 | 13 | 12 | 6 | 11 | 8 | 9 |
Operating Profit Operating ProfitCr |
| -11.6 | 9.3 | 6.7 | 2.1 | 9.1 | 9.7 | -2.8 | 6.9 | 11.9 | 6.2 | 7.0 | 5.7 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| -1 | 0 | 1 | 0 | 1 | 1 | -1 | 1 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | -167.4 | -30.8 | -59.6 | -93.8 | 193.6 | 41.7 | -205.3 | 925.0 | -41.4 | -51.0 | 142.5 | -61.0 |
| -7.8 | 4.5 | 3.2 | 0.4 | 5.0 | 4.8 | -3.3 | 3.2 | 4.7 | 2.1 | 2.0 | 1.8 |
| -1.1 | 0.7 | 0.7 | 0.1 | 1.1 | 0.9 | -0.8 | 0.8 | 0.6 | 0.5 | 0.3 | 0.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 47.6 | -6.7 | 25.8 | 175.1 | 1.6 | 5.0 | -14.2 | 56.3 | 46.2 | 0.7 | 1.6 | -15.0 |
| 6 | 5 | 7 | 19 | 19 | 20 | 17 | 26 | 39 | 39 | 41 | 34 |
Operating Profit Operating ProfitCr |
| 7.0 | 6.3 | 6.0 | 5.1 | 5.7 | 6.5 | 6.8 | 10.2 | 6.3 | 6.7 | 5.7 | 7.4 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 |
|
| 581.7 | -22.4 | 32.9 | 195.7 | -27.7 | 15.0 | 1.7 | 152.0 | -9.9 | -9.3 | -36.9 | 7.3 |
| 4.1 | 3.4 | 3.6 | 3.9 | 2.8 | 3.0 | 3.6 | 5.8 | 3.6 | 3.2 | 2.0 | 2.5 |
| 0.5 | 0.4 | 0.6 | 1.4 | 1.1 | 1.3 | 1.4 | 3.4 | 2.8 | 2.5 | 1.6 | 1.7 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| -3 | -2 | -2 | -1 | 0 | 0 | 1 | 3 | 6 | 7 | 8 | 8 |
Current Liabilities Current LiabilitiesCr | 3 | 3 | 7 | 8 | 7 | 7 | 6 | 10 | 16 | 15 | 17 | 20 |
Non Current Liabilities Non Current LiabilitiesCr | 4 | 4 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 8 | 8 | 7 | 10 | 9 | 10 | 9 | 17 | 25 | 25 | 28 | 31 |
Non Current Assets Non Current AssetsCr | 1 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | 1 | 0 | 0 | 1 | 2 | 1 | -5 | -1 | 0 | 0 |
Investing Cash Flow Investing Cash FlowCr | 0 | -1 | 0 | 0 | -1 | -1 | 0 | -1 | 0 | 0 | 0 |
Financing Cash Flow Financing Cash FlowCr | 1 | 0 | -1 | 0 | 1 | -2 | -1 | 7 | 3 | -2 | 0 |
|
Free Cash Flow Free Cash FlowCr | 0 | 0 | 0 | 0 | 0 | 1 | 1 | -6 | -2 | -1 | 0 |
| 116.1 | 549.8 | 0.1 | 51.0 | 106.3 | 309.6 | 215.1 | -308.2 | -90.5 | -33.0 | 32.1 |
CFO To EBITDA CFO To EBITDA% | 68.6 | 300.6 | 0.1 | 39.2 | 51.5 | 143.4 | 113.1 | -175.1 | -51.4 | -15.8 | 11.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 6 | 13 | 13 | 6 | 6 | 40 | 86 | 60 | 46 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 22.3 | 15.0 | 19.9 | 9.8 | 9.2 | 24.0 | 57.4 | 43.9 | 53.7 |
Price To Sales Price To Sales | 0.0 | 0.0 | 0.9 | 0.6 | 0.6 | 0.3 | 0.3 | 1.4 | 2.0 | 1.4 | 1.1 |
Price To Book Price To Book | 0.0 | 0.0 | 2.0 | 3.0 | 2.5 | 1.2 | 1.0 | 5.4 | 7.6 | 4.8 | 3.5 |
| 9.4 | 10.6 | 23.6 | 16.0 | 14.2 | 6.5 | 6.3 | 15.6 | 35.7 | 24.5 | 23.4 |
Profitability Ratios Profitability Ratios |
| 41.2 | 42.6 | 35.9 | 17.7 | 19.4 | 21.5 | 25.4 | 26.8 | 30.6 | 21.8 | 22.1 |
| 7.0 | 6.3 | 6.0 | 5.1 | 5.7 | 6.5 | 6.8 | 10.2 | 6.3 | 6.7 | 5.7 |
| 4.1 | 3.4 | 3.6 | 3.9 | 2.8 | 3.0 | 3.6 | 5.8 | 3.6 | 3.2 | 2.0 |
| 4.0 | 2.8 | 4.0 | 11.6 | 10.7 | 13.9 | 12.3 | 17.9 | 12.1 | 12.2 | 9.3 |
| 11.1 | 7.9 | 8.8 | 20.4 | 12.4 | 12.7 | 11.4 | 22.5 | 13.3 | 10.9 | 6.5 |
| 2.8 | 2.0 | 2.7 | 6.4 | 4.8 | 5.1 | 5.5 | 8.0 | 5.3 | 4.8 | 2.8 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Gorani Industries Ltd., established in **1996** by brothers **Sanjay Gorani** and **Narendra Gorani**, is a leading Indian manufacturer specializing in **kitchen and home appliances**. Over the past three decades, the company has evolved from producing the Nutan Kerosene Wick Stove—a popular household product at the time—into a prominent player in the modern kitchen appliances market. The company operates under well-recognized brand names **BLOWHOT** and **ONLINE**, offering ISI-certified products known for **reliability, modern design, safety, and technological sophistication**.
Headquartered in **Indore, Madhya Pradesh**, with a primary manufacturing facility on **Sanwer Road**, Gorani Industries has built a strong presence across **Central, North, and South India**. It is recognized as a pioneer in **modular kitchen solutions** and was the **first company in India to receive ISI certification for gas geysers**, underscoring its commitment to quality and regulatory compliance.
---
### **Core Business & Product Portfolio**
Gorani Industries operates exclusively in the **home appliances segment**, focusing on:
- **LPG stoves and gas hobs**
- **Gas and electric geysers / water heaters**
- **Kitchen chimneys (range hood)**
- **Induction cookers**
The company emphasizes **user-friendly, aesthetically improved, and safe kitchenware**, primarily targeting key customer segments such as **women, housewives, and students**. Its product development is deeply rooted in understanding end-user needs through direct market exposure and practical innovation.
---
### **Strategic Focus & Growth Initiatives (As of Sep 2025)**
As of **September 2025**, Gorani Industries continues to strengthen its market position through a multi-pronged strategy:
#### 1. **Product Innovation & Customization**
- Developing product lines across **varied capacities, formats, and pricing tiers** to cater to diverse consumer preferences.
- Recent innovations include **high-tech range hoods (models RH:009 and RH:010)** with auto-open, downward-moving, and flip-motion mechanisms—products uniquely assembled **in-house**, making Gorani the **only Indian manufacturer** capable of producing these advanced models.
- Plans are underway to launch **6 new chimney models, 8 new gas stove variants, and 3 additional geyser models**, significantly expanding its portfolio.
#### 2. **Technology & Design Excellence**
- Despite having **no formal imported technology**, the company leverages **34 years of cumulative experience** from its founding directors, particularly **Mr. Geet Gorani**, who represents the second-generation leadership.
- Frequent, long-term visits to **China** by management have enabled deep insights into **international design trends and consumer behavior**, which have been integrated into product durability and functionality improvements.
- Emphasis on **OEM manufacturing capability**, with expanded production capacity enabling Gorani to offer **OEM services to other brands**.
#### 3. **Brand & Market Expansion**
- Under Mr. Geet Gorani’s leadership, the company expanded operations to **over 20 Indian states within three years**, more than **doubling revenue** through enhanced marketing and strategic initiatives.
- The company is preparing for a **rebranding exercise**: following a planned **merger**, it intends to change its legal name to **"Blowhot Kitchen Appliances Limited"**—aligning its corporate identity with its most recognized brand to enhance **consumer recall and market demand**.
#### 4. **Sales & Distribution Strategy**
- **E-commerce sales** have emerged as a major growth channel, with significant increases in **direct-to-consumer online purchases**.
- The company expects **turnover growth to accelerate** due to rising digital adoption and online retail dominance.
- Strong **dealer and distributor network** supports offline sales across India.
---
### **Financial & Operational Strategy**
- **Profitability Enhancement**: The company is focused on **cost optimization in manufacturing and sales**, reducing shared product costs, and maximizing **input tax credits under the GST regime** to improve internal cash generation and profitability.
- **"Make in India" Alignment**: Increasing in-house production of imported components to **reduce import dependency**, improve cost control, and strengthen competitiveness.
- **Production Efficiency**: The Indore plant is designed for **operational efficiency**, supporting scalable output. In May 2022, preliminary winter demand drove a **15% increase in geyser production**, reflecting agility in responding to seasonal trends.