GFCL EV Unlisted Shares
About The Company
Strong
Market Position
Consistent
YoY Growth
Experienced
Management
Key Indicators
A snapshot of GFCL EV Unlisted Shares's financial health, valuation multiples and capital efficiency at a glance.
Pricing Trends
Financial Performance
| Indicators | 2025 | 2024 |
|---|---|---|
| Revenue | 30.4 | 0.6 |
| Expense | 37.2 | 2.1 |
| EBITDA | -6.9 | -1.6 |
| Other Cost | 25.2 | 2.1 |
| PBT | -32.0 | -3.6 |
| Tax Expense | -5.0 | -0.6 |
| PAT | -27.0 | -3.0 |
| Other Inc./Exp. | 0.1 | -0.6 |
| Net Income | -26.9 | -3.6 |
| Shares O/S | 730.36 | 707.53 |
| EPS (₹) | -0.04 | -0.01 |
| Rev. Growth % | 4966.7% | — |
| EBITDA Mgn % | -22.7% | -266.7% |
| Net Mgn % | -88.5% | -600.0% |
| EPS Growth | 300.0% | — |
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GFCL EV Unlisted Shares Unlisted Shares
GFCL EV Products Limited (GEPL) is engaged in the business of manufacturing lithium and sodium ion batteries, battery components, and products for electric vehicles (EV). It offers products such as LiPF6, NaPF6, PVDF, Electrolyte, and LFP(CAMs). It is a part of the Inoxgfl Group. The company was incorporated in 2021 and has its registered office located in Gujarat.
GFCL EV Products
GFCL EV manufactures battery materials used in lithium-ion and sodium-ion batteries.
Their product portfolio includes:
1. LiPF (Lithium Hexafluorophosphate)
This is the core salt used inside EV batteries, like a conductor that helps lithium ions flow in the battery.
2. NaPF (Sodium Hexafluorophosphate)
This is a similar salt to LiPF₆ but for sodium ion batteries. Sodium batteries are usually cheaper than lithium batteries.
3. PVDF (Polyvinylidene Fluoride)
This is the binding material inside the battery, making it durable and stable.
4. Electrolytes
This is the liquid put inside the battery, which works with a core salt like LiPF.
5. LFP CAM (Cathode Active Materials)
This is the main rod used as a battery material.
GFCL Funding History
Year | Amount | Valuation | Name of investor |
2024 | Rs 1,000 crore | ₹25,000 crore | INOXGFL Group promoters and other investors |
2025 | US$50 million | Undisclosed | International Finance Corporation (IFC) |
2026 | US$80 million | Undisclosed | Global marquee investor |
GFCL EV Products Ltd. Financial Analysis Overview
Particulars (in Rs. Cr) | 2025 | 2024 |
Revenue | 30.4 | 0.6 |
Expense | 37.2 | 2.1 |
EBITDA | -6.9 | -1.6 |
Net Profit | -26.9 | -3.6 |
EPS | -0.04 | -0.01 |
Revenue
The GFCL EV financials show revenue of Rs. 30.4 Cr in FY25, compared to Rs. 0.6 Cr in FY24, indicating an exceptional rise. This figure indicates massive growth of around 4967% in just a year. This kind of growth is due to operational progress.
Expenses
Expenses increased significantly to Rs. 37.2 Cr in FY25 from Rs. 2.1 Cr in FY24, reflecting aggressive scaling. The figure has increased sharply by 1671% YoY. The rise in costs can indicate capacity expansion, operational setup, and higher input costs, which are typical during their growth phase. Even though expenses grew more slowly than revenue, they are still higher than total revenue, which might keep the company in losses.
EBITDA
EBITDA stood at -Rs.6.9 Cr, compared to -Rs.1.6 Cr last year, showing a widening operating loss. EBITDA loss widened by 331%. This means the company might not be profitable at the core business level, as operating costs continue to exceed revenue.
EBITDA Margin
The EBITDA margin remains negative at -22.7% in FY25. This indicates that the business has not yet achieved operational efficiency. But early signs of margin improvement likely emerge with scale.
Net Profit
The company reported a net loss of -Rs.26.9 Cr in FY25, significantly higher than last year’s loss. Despite strong revenue growth, profitability likely remains under pressure, showing that the company might still be using more cash and that break-even may take time
Earnings Per Share (EPS)
EPS declined to -Rs. 0.04 from -Rs. 0.01, likely reflecting increased losses and a rise in share count. This means shareholder returns are currently negative, which might be common in early-stage growth companies.
GFCL EV Share Price Overview

The GFCL EV unlisted share price today is Rs. 40.54, and at this level, the company commands a market cap of around Rs. 29,609 Cr, which might be significant for a business that is still in its early growth phase. On the valuation side, the company is currently trading at a Price-to-Book (P/B) of 19.6x and an extremely high Price-to-Sales (P/S) of 975x, while the P/E ratio remains negative, likely due to continuous losses. This indicates that a recent correction is likely to occur in the GFCL EV share price while it reaches such highs.










