Financial Snapshot
Key Performance Indicators:
Analysis is based on the company's reported financial statements and historical financial data.
GFCL EV Products Unlisted Shares
56
Visitors
₹40
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Indicative
GFCL EV Products Unlisted Shares Trend
Trend Score
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Sentiment
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GFCL EV Products Unlisted Shares Details
GFCL EV Products Unlisted Shares Price
₹39.50
- Lot Size
- 1,000 Shares
- Min. Investment
- ₹39,500
Valuation
- Market Cap
- ₹28,953.39 Cr
- Total Shares
- 7,32,99,72,576
- P/E Ratio
- -
- P/B Ratio
- 19.17x
Performance & Health
- ROE
- (6.50)%
- EPS
- ₹(0.14)
- Debt/Equity
- 0.35
- Book Value
- ₹2.06
Corporate Identity
- Sector
- Green Energy
- Availability in Depository
- CDSL & NSDL
- Face Value
- ₹1.00
- ISIN Code
- INE0KA501014
- PAN
- AAJCG4540K
- CIN
- U24296GJ2021PLC127819
- Registrar (RTA)
- NSDL DATABASE MANAGEMENT LIMITED
GFCL EV Products Unlisted Shares Price
₹39.50
Lot Size
1,000 Shares
Min. Investment
₹39,500
Valuation
- Market Cap
- ₹28,953.39 Cr
- Total Shares
- 7,32,99,72,576
- P/E Ratio
- -
- P/B Ratio
- 19.17x
Performance & Health
- ROE
- (6.50)%
- EPS
- ₹(0.14)
- Debt/Equity
- 0.35
- Book Value
- ₹2.06
Corporate Identity
- Sector
- Green Energy
- Face Value
- ₹1.00
- ISIN Code
- INE0KA501014
- PAN
- AAJCG4540K
- Availability in Depository
- CDSL & NSDL
- CIN
- U24296GJ2021PLC127819
- Registrar & Transfer Agent (RTA)
- NSDL DATABASE MANAGEMENT LIMITED
Understand Fundamentals
Disclaimer:
The Company issued Compulsorily Convertible Preference Shares (CCPS) to International Finance Corporation (IFC) during FY 2025-26. As these instruments had not been converted into equity shares as of the reporting date, they have been excluded from the total equity share count.
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About GFCL EV Products
GFCL EV Products Limited is a specialized battery materials company focused on manufacturing critical components used in lithium-ion batteries, sodium-ion batteries, electric vehicles (EVs), and energy storage systems (ESS). The company is a subsidia...
GFCL EV Products Limited is a specialized battery materials company focused on manufacturing critical components used in lithium-ion batteries, sodium-ion batteries, electric vehicles (EVs), and energy storage systems (ESS). The company is a subsidiary of Gujarat Fluorochemicals Limited (GFL), one of India's leading fluorine chemistry companies and part of the INOXGFL Group. Through its expertise in advanced fluorine-based materials, GFCL EV Products is building an integrated battery chemicals platform designed to support the rapidly expanding global EV and energy storage industry.
What Does GFCL EV Products Do?
GFCL EV Products operates in the battery materials segment and manufactures a broad portfolio of products that are essential for modern battery production. The company's offerings include electrolyte salts, electrolyte additives, customized electrolyte formulations, fluoropolymer binders, and cathode active materials used in lithium-ion and sodium-ion batteries.
Its product portfolio includes Lithium Hexafluorophosphate (LiPF6), Lithium Bis (fluorosulfonyl) Imide (LiFSI), Sodium Hexafluorophosphate (NaPF6), Vinylene Carbonate (VC), Fluoroethylene Carbonate (FEC), PVDF binders, electrolyte solutions, and Lithium Iron Phosphate (LFP) cathode active materials. These products serve battery manufacturers catering to electric vehicles, renewable energy storage systems, consumer electronics, power tools, and other advanced energy applications.
As battery manufacturers increasingly seek reliable and localized supply chains, GFCL EV Products is positioning itself as a strategic supplier of high-value battery materials both in India and international markets.
Integrated Presence Across the Battery Value Chain
One of the distinguishing features of GFCL EV Products Limited is its presence across multiple segments of the battery materials value chain. Unlike companies focused on a single battery component, GFCL EV is developing capabilities in battery salts, additives, electrolytes, binders, and cathode materials.
This diversified approach enables the company to participate in multiple stages of battery manufacturing while benefiting from growing demand for electric mobility and energy storage solutions. The strategy also reduces dependence on a single product category and strengthens long-term growth opportunities.
Strong Backward Integration and Technical Expertise
A major competitive advantage of GFCL EV Products is its access to the fluorine chemistry ecosystem developed by Gujarat Fluorochemicals over several decades. The company benefits from extensive expertise in fluoropolymers, specialty chemicals, and fluorine-based materials that are essential for manufacturing advanced battery chemicals.
Through the broader GFL ecosystem, GFCL EV has access to critical raw materials, hydrofluoric acid production capabilities, fluoropolymer manufacturing infrastructure, and established chemical processing facilities. This backward integration enhances supply chain security, improves cost competitiveness, and creates significant barriers to entry for potential competitors.
The company also benefits from in-house research, process development capabilities, and manufacturing expertise that support product quality, scalability, and innovation across its battery materials portfolio.
Advanced Materials for Electric Vehicles and Energy Storage
The global transition toward electric mobility and renewable energy is driving significant demand for advanced battery materials. GFCL EV Products is focused on supplying materials that improve battery performance, safety, energy density, lifecycle, and operational reliability.
Its electrolyte salts and additives play a critical role in battery efficiency and charging performance, while its PVDF binders contribute to battery durability and long-term stability. The company is also expanding its presence in Lithium Iron Phosphate (LFP) cathode materials, one of the fastest-growing battery chemistries globally due to its safety, thermal stability, long cycle life, and cost-effectiveness.
As electric vehicle adoption accelerates worldwide, demand for these battery materials is expected to increase substantially, creating a significant long-term opportunity for the company.
Growth Strategy and Expansion Plans
GFCL EV Products is investing heavily in expanding its battery chemicals business and strengthening its manufacturing capabilities. The company has commercialized key products such as LiPF6 and continues to expand its portfolio through cathode active materials, battery additives, binders, and electrolyte solutions.
Its long-term strategy focuses on building a comprehensive battery materials ecosystem that supports battery manufacturers across different chemistries and applications. By developing multiple product lines and scaling production capacities, the company aims to become one of the leading non-Chinese suppliers of battery materials serving global markets.
Role in India's EV Ecosystem
India is rapidly emerging as a major hub for electric vehicle manufacturing, battery production, and energy storage investments. Government initiatives promoting domestic battery manufacturing, localization of supply chains, and clean energy adoption are creating favorable industry conditions for battery material manufacturers.
GFCL EV Products Limited is strategically positioned to benefit from these structural trends. Its focus on battery chemicals, fluoropolymer technology, and cathode materials aligns with the increasing demand for locally manufactured battery components required by EV manufacturers and battery producers.
GFCL EV Products Unlisted Shares
For investors tracking GFCL EV Products Unlisted Shares, the company offers exposure to one of the fastest-growing segments of the clean energy economy. The business operates in the high-potential battery materials industry, supported by the technological expertise of Gujarat Fluorochemicals, strong manufacturing capabilities, backward integration advantages, and growing demand from electric vehicles and energy storage systems.
As the global battery supply chain continues to diversify and expand, GFCL EV Products Limited is emerging as an important participant in the advanced battery materials ecosystem, making GFCL EV Products Unlisted Shares a closely watched opportunity among investors interested in India's EV and energy transition story.
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GFCL EV Products Financials
Income Statement
Figures shown in lakhs. YoY shown under each year; trend sparkline on the right.
| Particulars | FY 2023-24 | FY 2024-25 | FY 2025-26 | Trend |
|---|---|---|---|---|
| Income | ||||
| Revenue from operations | 36.82 | 944.30 | 3,322.16 | |
| Other Income | 22.10 | 2,091.95 | 482.71 | |
| Total Income | 58.92 | 3,036.25 | 3,804.87 | |
| Expenses | ||||
| Cost of materials consumed | 624.35 | 6,519.63 | 7,272.51 | |
| Changes in inventories of finished goods and work-in-progress | (631.34) | (6,479.61) | (4,699.27) | |
| Power & fuel | 52.57 | 865.79 | 1,472.44 | |
| Employee benefits expenses | 44.09 | 994.28 | 3,481.89 | |
| Finance costs | 52.78 | 264.50 | 1,663.15 | |
| Depreciation | 154.06 | 2,251.57 | 2,898.36 | |
| Other expenses | 124.83 | 1,823.58 | 3,843.13 | |
| Total expenses | 421.34 | 6,239.74 | 15,932.21 | |
| Loss before exceptional items & tax | (362.42) | (3,203.49) | (12,127.34) | |
| Exceptional item | - | - | 129.29 | |
| Loss before tax | (362.42) | (3,203.49) | (12,256.63) | |
| Tax expense | ||||
| Deferred tax | (61.85) | (504.31) | (1,825.27) | |
| Taxation pertaining to earlier years | - | 1.39 | - | |
| Loss for the year | (300.57) | (2,700.57) | (10,431.36) | |
| Other comprehensive income | (58.68) | 8.09 | 57.60 | |
| Total comprehensive income for the year (comprising loss and other comprehensive income for the year) | (359.25) | (2,692.48) | (10,373.76) | |
| Loss per equity share of Re. 1 each (in Rs.) | (0.01) | (0.04) | (0.14) |
GFCL EV Products- Key Insights
POSITIVE
Large Expansion Pipeline
Management plans approximately ₹6,000 crore of capital expenditure over the next 2–3 years to address rising demand from EV and BESS markets
POSITIVE
Global Customer Validation
LiPF6, binder and electrolyte facilities have been audited and approved by global customers, strengthening credibility and export opportunities.
POSITIVE
Integrated Battery Materials Platform
GFCL EV Products is building India's first fully integrated battery materials ecosystem covering LiPF6, electrolytes, binders, cathode materials and anode materials for EV and energy storage applications
POSITIVE
Revenue Growth Momentum
Revenue from operations increased to ₹33.22 crore from ₹9.44 crore, reflecting strong commercialization progress in the battery chemicals business and growing customer acceptance.
NEGATIVE
EBITDA Remains Negative
GFCL EV Products reported an EBITDA loss of approximately ₹70 crore for FY26, highlighting that scale benefits are yet to materialize.
NEGATIVE
Expenses Outpacing Revenue
Total expenses increased to ₹159.32 crore while revenue remained at ₹33.22 crore, resulting in continued pressure on profitability.
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Browse All Unlisted SharesGFCL EV Products- Corporate Actions
Latest Announcements
Showing 1 to 4 of 5 entries
GFCL EV Products- News
SCANX
Gujarat Fluorochemicals incorporates step-down subsidiary in Oman
Gujarat Fluorochemicals Limited has incorporated a step-down subsidiary, GFCL EV New Age Materials SAOC, in Oman through its material subsidiary GFCL EV Products Limited. The newly formed Closed Joint Stock Company will focus on the manufacturing and trading of battery chemicals, though it has not yet commenced operations.
INDIAN CHEMICAL NEWS
GFCL EV launches $216 million advanced battery materials project in Oman
Energy storage major GFCL EV Products, part of the diversified INOXGFL Group, is making a major foray into the Middle East. GFCL EV signed an Invest Agreement with the Sultanate of Oman through Invest Oman. The initial investment for the project is approximately US$ 216 million.
TIMES OF INDIA
IFC invests $50 million in GFCL EV for India's first integrated battery-materials plant in Gujarat
The International Finance Corporation (IFC) committed about $50 million to GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd (GFL), to build India's first fully integrated battery-materials facility at Jolva near Bharuch in Gujarat. The investment, through compulsorily convertible instruments, will support large-scale manufacturing of LiPF6, electrolyte formulations, LFP cathode materials, and PVDF/PTFE binders for EVs and energy-storage.
BUSINESS STANDARD
GFL share price jumps 6% after unit incorporates step-down subsidiary
GFCL EV Products incorporated the step down subsidiary in the Sultanate of Oman namely GFCL EV SPC on 11th June, 2024. GFCL EV is a newly incorporated company for business development. It is being set up to manufacture high purity metal sulphate and complex metal phosphate.
SCANX
Gujarat Fluorochemicals incorporates step-down subsidiary in Oman
Gujarat Fluorochemicals Limited has incorporated a step-down subsidiary, GFCL EV New Age Materials SAOC, in Oman through its material subsidiary GFCL EV Products Limited. The newly formed Closed Joint Stock Company will focus on the manufacturing and trading of battery chemicals, though it has not yet commenced operations.
INDIAN CHEMICAL NEWS
GFCL EV launches $216 million advanced battery materials project in Oman
Energy storage major GFCL EV Products, part of the diversified INOXGFL Group, is making a major foray into the Middle East. GFCL EV signed an Invest Agreement with the Sultanate of Oman through Invest Oman. The initial investment for the project is approximately US$ 216 million.
TIMES OF INDIA
IFC invests $50 million in GFCL EV for India's first integrated battery-materials plant in Gujarat
The International Finance Corporation (IFC) committed about $50 million to GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd (GFL), to build India's first fully integrated battery-materials facility at Jolva near Bharuch in Gujarat. The investment, through compulsorily convertible instruments, will support large-scale manufacturing of LiPF6, electrolyte formulations, LFP cathode materials, and PVDF/PTFE binders for EVs and energy-storage.
BUSINESS STANDARD
GFL share price jumps 6% after unit incorporates step-down subsidiary
GFCL EV Products incorporated the step down subsidiary in the Sultanate of Oman namely GFCL EV SPC on 11th June, 2024. GFCL EV is a newly incorporated company for business development. It is being set up to manufacture high purity metal sulphate and complex metal phosphate.
GFCL EV Products Reports
2026
Annual Report
GFCL EV Products Annual Report FY 2025-26
2025
Annual Report
GFCL EV Products Annual Report FY 2024-25
Management & Corporate Info
Mr. Vivek Jain
Chairman & Managing Director
Mr. Manoj Agrawal
CFO
Dr. Bir Kapoor
Non Independent Director
Dr. Vijay Kumar Soni
Non Independent Director
Dr. Sanjay Bhan
Whole Time Director
Mr. Shailendra Swarup
Independent Director
Ms. Vanita Bhargava
Independent Director
Registered Office
Survey No.16/3, 26,27
Ranjitnagar,
Taluka Ghoghamba,
District
Panchmahals -
389380, Gujarat
GFCL EV Products Unlisted Shares Shares
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GFCL EV Products Unlisted Shares Trend
Trend Score
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Sentiment
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This sentiment meter reflects current demand-supply conditions in the unlisted market. It is not a rating and should not be considered advice to buy, sell, or hold. Sentiments are subject to rapid change and may not be real-time.
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