Goldstar Power

Jamnagar, India Founded: 1982 • Age: 44 yrs Listed
Batteries are manufactured and developed for automotive and other uses.
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About Goldstar Power

Goldstar Power is a publicly listed company based in Jamnagar (India) founded in 1982 by Muljibhai Mohanbhai Pansara. Batteries are manufactured and developed for automotive and other uses. The company has 15 employees. Its Indian entity Goldstar Power Limited reported revenue of ₹83,991,914 Cr. Its focus areas include Energy Tech, Energy Storage Tech, Battery and Secondary Battery.

Company details

Goldstar Power was founded in 1982 in Jamnagar, India, where operations in battery manufacturing are conducted. Various battery types, including automotive, tubular, VRLA, and e-rickshaw models, are designed and developed. The company focuses on the energy storage sector, serving industrial and vehicular applications within the Indian market and beyond. Leadership includes the founder and managing director from the Pansara family.

  • Headquarters Jamnagar, India
  • Employees 15
  • Founders Muljibhai Mohanbhai Pansara
  • Stage Public
  • Sectors
    Energy & Utilities
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website goldstarpower.com
  • Social LinkedIn X
  • Legal Name Goldstar Power Ltd.
Operational Areas
Energy & Utilities → Energy Storage Systems
Key Metrics
  • Market Cap
    ₹292 Cr

    GOLDSTAR-ST · NSE

  • Share Price
    ₹10.70

    +4.90% today

  • Revenue
    ₹8,38,12,378 Cr

    FY 2025-26 · +1632.3% YoY

  • EBITDA
    ₹32,16,720 Cr

    Margin 3.8%

  • Net Profit
    ₹29,41,305 Cr

    FY 2025-26 · +1190.0% YoY

  • P/E (TTM)
    6.5x

    P/B 1.7x

  • ROE
    29.8%

    ROCE 29.0%

  • Debt / Equity
    0.10

    Interest cover 6.0x

  • Employee Count
    15

Board of directors of Goldstar Power Limited (Goldstar Power)

Goldstar Power Limited is the primary company behind Goldstar Power. The boards of the 3 registered companies of Goldstar Power currently have 11 directors; the longest-serving is Amratlal Mohanbhai Pansara, appointed in 1999. 16 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Amratlal Mohanbhai Pansara
DIN 00300786
Whole-time director12 Jul 199927 yrs 3 moGoldstar Power Limited
Navneetbhai Pansara
DIN 00300843
Managing Director19 Jan 200620 yrs 9 moGoldstar Power Limited, Dms Energy Private Limited
Shivam Amrutlal Pansara
DIN 03008493
Director30 Mar 201016 yrs 7 moDms Energy Private Limited
Sanjay Ravjibhai Kotadiya
DIN 01685747
Director07 May 201214 yrs 6 moBlue Star Energy Private Limited
Gitaben Amrutlal Panashara
DIN 05110690
Director10 Oct 201214 yrsBlue Star Energy Private Limited
Chetan Vishandas Khattar
DIN 00020777
Director31 Jul 20179 yrs 3 moGoldstar Power Limited
Hemrajbhai Hansharajbhai Patel
DIN 07830488
Director31 Jul 20179 yrs 3 moGoldstar Power Limited
Maheshbhai Tulsibhai Sojitra
DIN 09234220
Director24 Jul 20215 yrs 3 moGoldstar Power Limited
Dhruti Navneet Pansara
DIN 01943399
Director20 Apr 20224 yrs 6 moBlue Star Energy Private Limited, Goldstar Power Limited
Pareshkumar Bhagwanjibhai Vekaria
DIN 02416862
Director28 Jul 20263 moGoldstar Power Limited
Chandrakant Bhagwanjibhai Mehta
DIN 11852465
Director28 Jul 20263 moGoldstar Power Limited

People of Goldstar Power

2 people are tracked at Goldstar Power (2 in leadership); the tracked headcount is 15.

NameRoleGroup
Muljibhai Mohanbhai Pansara
FounderLeadership
Navneet Pansara
Managing DirectorLeadership
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IPO & Listings of Goldstar Power

Goldstar Power is a publicly listed company on the NSE with ticker symbol GOLDSTAR in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date10 Oct 2017
  • Listed onNSE: GOLDSTAR
  • Listed entityGoldstar Power Ltd.
  • Exchange sectorProducer manufacturing
  • ISININE405Y01021
  • Share price₹10.15 (+1.5% on the day) · 2026-10-14
  • Market capitalisation₹241 Cr
  • Price to earnings10.1
  • EPS (diluted, trailing year)₹1.01
  • Volume (last session)202,500

Financials of Goldstar Power

Exchange-reported figures of Goldstar Power Limited, the listed company behind Goldstar Power (NSE: GOLDSTAR-ST).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹8,38,12,378 Cr
+1632.3% YoY
EBITDA
₹32,16,720 Cr
+604.5% YoY
Profit After Tax
₹29,41,305 Cr
+1190.0% YoY
Net Worth
₹1,67,12,792 Cr
+448.5% YoY
Total Assets
₹3,07,00,659 Cr
+641.8% YoY
Total Debt
₹8,06,097 Cr
-26.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25
Income statement
Revenue8,38,12,37848,38,130
Revenue growth+1632.3%-
EBITDA32,16,7204,56,584
EBITDA margin+3.8%+9.4%
Profit before tax29,71,3093,49,291
Net profit29,41,3052,28,002
Net profit margin+3.5%+4.7%
EPS (₹)1.030.09
Balance sheet
Total assets3,07,00,65941,38,620
Net worth1,67,12,79230,47,169
Total debt8,06,09710,91,451
Cash & bank5,20,93517,437
Net working capital2,80,69,16116,49,987
Cash flow
Cash from operations(1,08,34,634)8,95,820
Cash from investing67,96,735(6,652)
Cash from financing45,41,396(8,86,897)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue5084322701279.8418.997.1814.95
Revenue growth (YoY)+5066.8%+2174.5%+3655.0%+747.8%+30.3%---
Other income0.360.020.191.200.390.860.010.53
EBITDA15.5018.9411.340.541.342.62(0.33)2.18
EBITDA margin+3.0%+4.4%+4.2%+0.4%+13.6%+13.8%-4.6%+14.6%
Depreciation0.600.410.840.860.370.400.400.00
Interest0.690.860.300.330.290.260.360.43
Profit before tax14.5717.6910.390.551.072.82(1.08)2.28
Tax(0.02)0.10(0.01)(0.16)0.360.490.030.76
Net profit14.5917.5910.400.710.712.33(1.11)1.52
EPS (₹)0.260.170.390.020.030.00(0.05)0.06
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue37.1048.3850.1749.9842.9142.0635.88
Revenue growth-23.3%-3.6%+0.4%+16.5%+2.0%+17.2%-
EBITDA2.024.566.835.942.410.950.90
EBITDA margin+5.4%+9.4%+13.6%+11.9%+5.6%+2.3%+2.5%
Profit before tax1.273.485.505.011.070.160.31
Net profit1.012.274.043.760.720.070.38
Net profit margin+2.7%+4.7%+8.1%+7.5%+1.7%+0.2%+1.1%
EPS (₹)0.040.090.170.190.660.070.35
Balance sheet
Total assets89.5841.3946.4137.3038.0631.2828.44
Net worth81.5230.4728.1924.1520.4219.7119.64
Total debt8.0610.9118.2113.1517.6411.578.80
Cash & bank2.362.560.150.110.082.660.72
Net working capital15.0016.4921.9122.4721.6721.1115.82
Cash flow
Cash from operations4.748.967.996.54(0.93)(0.17)0.50
Cash from investing(0.80)(0.07)(11.17)(0.54)(7.44)1.050.10
Cash from financing(3.92)(8.87)3.22(5.97)5.791.060.02
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue6.884.125.0518.089.8425.877.1814.95
Revenue growth (YoY)-30.1%-84.1%-29.7%+20.9%+30.3%---
Other income0.360.020.191.200.391.160.010.53
Total expenses6.922.804.9418.858.5023.787.5112.77
EBITDA(0.04)1.320.11(0.77)1.342.09(0.33)2.18
EBITDA margin-0.6%+32.0%+2.2%-4.3%+13.6%+8.1%-4.6%+14.6%
Depreciation0.370.370.370.370.370.800.400.00
Interest0.160.150.300.330.290.750.360.43
Profit before tax(0.21)0.82(0.37)(0.27)1.071.70(1.08)2.28
Tax(0.02)0.12(0.07)(0.16)0.360.540.030.76

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 07 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue5084322701279.8418.997.1814.95
Revenue growth (YoY)+5066.8%+2174.5%+3655.0%+747.8%+30.3%---
Other income0.360.020.191.200.390.860.010.53
EBITDA15.5018.9411.340.541.342.62(0.33)2.18
EBITDA margin+3.0%+4.4%+4.2%+0.4%+13.6%+13.8%-4.6%+14.6%
Depreciation0.600.410.840.860.370.400.400.00
Interest0.690.860.300.330.290.260.360.43
Profit before tax14.5717.6910.390.551.072.82(1.08)2.28
Tax(0.02)0.10(0.01)(0.16)0.360.490.030.76
Net profit14.5917.5910.400.710.712.33(1.11)1.52
EPS (₹)0.260.170.390.020.030.00(0.05)0.06
ParticularsFY 2025-26FY 2024-25
Revenue8,38,12,37848,38,130
Revenue growth+1632.3%-
Other income1,79,5362,08,479
Total expenses8,05,95,65743,81,546
Employee cost5,86,3922,71,585
EBITDA32,16,7204,56,584
EBITDA margin+3.8%+9.4%
Depreciation2,47,4131,59,249
Interest1,77,5341,56,523
Profit before tax29,71,3093,49,291
Tax30,0041,21,289
Net profit29,41,3052,28,002
Net profit margin+3.5%+4.7%
EPS (₹)1.030.09
ParticularsFY 2025-26FY 2024-25
Equity & liabilities
Share capital28,61,98524,07,050
Reserves & surplus1,38,50,8076,40,119
Shareholders' funds (net worth)1,67,12,79230,47,169
Minority interest1,31,29,7160.00
Secured loans5,72,0458,81,248
Unsecured loans2,34,0522,10,204
Total debt8,06,09710,91,451
Total liabilities3,07,00,65941,38,620
Assets
Gross block39,54,10836,80,435
Net block17,48,07916,95,642
Capital work in progress0.000.00
Investments10,55,5769,70,488
Inventories6,10,9448,02,260
Sundry debtors4,04,87,79314,07,386
Cash & bank balances5,20,93517,437
Loans & advances69,86,4142,50,106
Total current assets4,86,06,08624,77,189
Total current liabilities2,05,36,9258,27,202
Net working capital2,80,69,16116,49,987
Total assets3,07,00,65941,38,620
ParticularsFY 2025-26FY 2024-25
Opening cash17,43715,166
Net cash from operating activities(1,08,34,634)8,95,820
Net cash from investing activities67,96,735(6,652)
Net cash from financing activities45,41,396(8,86,897)
Net change in cash5,03,4982,272
Closing cash5,20,93517,437
ParticularsFY 2025-26FY 2024-25
Growth
Sales growth+1632.3%-
EBITDA growth+604.5%-
PBT growth+750.7%+9997.0%
Net income growth+1190.0%-
Profitability & leverage
Net income margin+3.5%+4.7%
Return on capital employed+29.0%+12.2%
Return on net worth+29.8%+7.5%
Debt / equity0.100.36
Long-term debt / equity0.020.10
Interest cover5.9852.64
Efficiency & per share
Fixed asset turnover21.961.31
Inventory turnover118.616.03
Debtors turnover4.003.44
EPS (₹)1.030.09
Dividend per share (₹)0.000.00
Book value per share (₹)5.841.27
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue6.884.125.0518.089.8425.877.1814.95
Revenue growth (YoY)-30.1%-84.1%-29.7%+20.9%+30.3%---
Other income0.360.020.191.200.391.160.010.53
Total expenses6.922.804.9418.858.5023.787.5112.77
EBITDA(0.04)1.320.11(0.77)1.342.09(0.33)2.18
EBITDA margin-0.6%+32.0%+2.2%-4.3%+13.6%+8.1%-4.6%+14.6%
Depreciation0.370.370.370.370.370.800.400.00
Interest0.160.150.300.330.290.750.360.43
Profit before tax(0.21)0.82(0.37)(0.27)1.071.70(1.08)2.28
Tax(0.02)0.12(0.07)(0.16)0.360.540.030.76
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue37.1048.3850.1749.9842.9142.0635.88
Revenue growth-23.3%-3.6%+0.4%+16.5%+2.0%+17.2%-
Other income1.802.082.082.141.271.751.93
Total expenses35.0843.8243.3444.0440.5041.1134.98
Employee cost0.002.722.622.882.882.932.98
EBITDA2.024.566.835.942.410.950.90
EBITDA margin+5.4%+9.4%+13.6%+11.9%+5.6%+2.3%+2.5%
Depreciation1.481.591.571.591.421.581.63
Interest1.071.571.841.481.190.960.89
Profit before tax1.273.485.505.011.070.160.31
Tax0.261.211.461.280.350.09(0.07)
Net profit1.012.274.043.760.720.070.38
Net profit margin+2.7%+4.7%+8.1%+7.5%+1.7%+0.2%+1.1%
EPS (₹)0.040.090.170.190.660.070.35
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital28.6224.0724.0719.2610.7010.7010.70
Reserves & surplus52.906.404.124.899.729.018.94
Shareholders' funds (net worth)81.5230.4728.1924.1520.4219.7119.64
Secured loans5.728.8115.0212.6916.1210.647.29
Unsecured loans2.342.103.190.461.520.931.51
Total debt8.0610.9118.2113.1517.6411.578.80
Total liabilities89.5841.3946.4137.3038.0631.2828.44
Assets
Gross block37.1036.8018.1931.9025.0324.4324.03
Net block15.7716.9518.1915.219.7910.6211.79
Capital work in progress0.000.000.000.007.020.000.00
Investments60.529.707.600.000.000.000.01
Inventories6.118.0211.6112.5113.1310.9214.48
Sundry debtors12.7114.0711.5711.109.566.243.63
Cash & bank balances2.362.560.150.110.082.660.72
Loans & advances0.470.124.384.636.264.502.88
Total current assets21.6524.7727.7128.3529.0324.3221.71
Total current liabilities6.658.285.805.887.363.215.89
Net working capital15.0016.4921.9122.4721.6721.1115.82
Total assets89.5841.3946.4137.3038.0631.2828.44
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.170.150.110.082.660.720.10
Net cash from operating activities4.748.967.996.54(0.93)(0.17)0.50
Net cash from investing activities(0.80)(0.07)(11.17)(0.54)(7.44)1.050.10
Net cash from financing activities(3.92)(8.87)3.22(5.97)5.791.060.02
Net change in cash0.020.020.040.03(2.58)1.940.62
Closing cash2.362.560.150.110.082.660.72
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-23.3%-3.6%+0.4%+16.5%+2.0%+17.2%-
EBITDA growth-55.7%-33.2%+15.0%+146.5%+153.7%+5.6%-
PBT growth-63.5%-36.7%+9.8%+368.2%+568.8%-48.4%-50.0%
Net income growth-55.5%-43.8%+7.5%+422.2%+928.6%-81.6%-
Revenue CAGR (3Y)-9.5%+4.1%+6.1%+11.7%+5.7%-0.9%-13.2%
EBITDA CAGR (3Y)-30.2%+23.7%+93.0%+87.6%+10.4%-23.2%-37.1%
Profitability & leverage
Net income margin+2.7%+4.7%+8.1%+7.5%+1.7%+0.2%+1.1%
Return on capital employed-+11.5%+17.6%+17.2%+6.5%+3.8%+4.3%
Return on net worth-+7.8%+15.5%+16.7%+3.5%+0.4%+1.9%
Debt / equity-0.500.600.690.730.520.43
Long-term debt / equity-0.140.210.300.300.130.03
Interest cover198.1552.8634.9834.02120.20-152.38-121.92
Efficiency & per share
Fixed asset turnover-2.752.001.761.741.741.50
Inventory turnover-4.934.163.903.573.312.69
Debtors turnover-3.774.434.845.438.527.95
EPS (₹)0.040.090.170.190.660.070.35
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.001.271.171.2519.0918.4218.35

Web traffic of Goldstar Power

The website of Goldstar Power (goldstarpower.com) receives about 1.6K visits a month.

  • Monthly visits
    1.6K

    ▲ 33.3% vs previous month

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Top companies in Energy Storage Systems

2 companies that operate in the same segment as Goldstar Power (Energy Storage Systems) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Battery Smart
Provider of EV battery-swapping network
2019Gurugram, Haryana, IndiaUSD 187.76 MUSD 22.56 M482
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Lithium-ion batteries for electric vehicles are manufactured across categories.
2006Gurugram, Haryana, IndiaUSD 34.18 M177
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Related news about Goldstar Power

Goldstar Power Says Approved Issue Of Equity Shares Worth 22.5 Million Rupees
Reuters • 3 years ago
Goldstar Power Says Muljibhai Pansara Ceased To Be Chairman
Reuters • 3 years ago
Goldstar Power Approves Issue Of Shares Through Bonus Issue In Ratio 4:5
Reuters • 3 years ago
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Frequently Asked Questions about Goldstar Power

Goldstar Power was founded in 1982.

Goldstar Power is headquartered in Jamnagar, India. It is registered at Jamnagar, Gujarat, India.

Goldstar Power has 15 employees.

The primary company behind Goldstar Power, Goldstar Power Limited, reported revenue of ₹83,991,914 Cr for FY 2026, up 1632% year on year.

Goldstar Power was founded in 1982 in Jamnagar, India, where operations in battery manufacturing are conducted. Various battery types, including automotive, tubular, VRLA, and e-rickshaw models, are designed and developed. The company focuses on the energy storage sector, serving industrial and vehicular applications within the Indian market and beyond. Leadership includes the founder and managing director from the Pansara family.

Yes, Goldstar Power is publicly traded on NSE under the ticker symbol GOLDSTAR.

Goldstar Power is associated with 3 legal entities: Goldstar Power Limited, Blue Star Energy Private Limited, Dms Energy Private Limited.

The legal entities of Goldstar Power currently have 13 directors, including Dhruti Navneet Pansara, Sanjay Ravjibhai Kotadiya, Gitaben Amrutlal Panashara and others.

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