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A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Girnar Spintex Industries's Debt-to-Equity or its related term are showing as below:
NSE:ASIL'
s Debt-to-Equity Range Over the Past 10 Years
Min: -8.83 Med: 1.12 Max: 1.72
Current: 1.42
During the past 13 years, the highest Debt-to-Equity Ratio of Girnar Spintex Industries was 1.72. The lowest was -8.83. And the median was 1.12.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Girnar Spintex Industries Debt-to-Equity Related Terms
Girnar Spintex Industries Debt-to-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Textile Manufacturing subindustry, Girnar Spintex Industries's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Girnar Spintex Industries Debt-to-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Girnar Spintex Industries's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Girnar Spintex Industries's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Girnar Spintex Industries (NSE:ASIL) has a Debt-to-Equity of 1.42 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Girnar Spintex Industries and its competitors. This is 27% above median its historical median of 1.12.
Is Girnar Spintex Industries' Debt-to-Equity too high?
Girnar Spintex Industries' current Debt-to-Equity of 1.42 is 27% above median its 10-year median of 1.12. The Manufacturing - Apparel & Accessories industry median Debt-to-Equity is 0.43. Girnar Spintex Industries' value of 1.42 is 230.2% above this industry median.
How does Girnar Spintex Industries' Debt-to-Equity compare to competitors?
Girnar Spintex Industries' Debt-to-Equity of 1.42 can be compared against companies in the Manufacturing - Apparel & Accessories industry. The industry median Debt-to-Equity is 0.43. Girnar Spintex Industries' value of 1.42 is 230.2% above this benchmark. While the company's 10-year median is 1.12 vs. the industry median of 0.43, Girnar Spintex Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Manufacturing - Apparel & Accessories company?
The median Debt-to-Equity among Manufacturing - Apparel & Accessories companies is 0.43, based on 933 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Girnar Spintex Industries's current Debt-to-Equity of 1.42 is 230.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Girnar Spintex Industries and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Debt-to-Equity is 0.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Girnar Spintex Industries's current Debt-to-Equity is 1.42, which is 27% above median its own 10-year median of 1.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Girnar Spintex Industries stock overvalued right now?
Girnar Spintex Industries (NSE:ASIL) has a current Debt-to-Equity of 1.42. The stock's GF Value™ is ₹2.18, compared to a current price of ₹0.70 — trading 67.9% below its estimated fair value. The current Debt-to-Equity is 1.42, which is 27% above median its 10-year median of 1.12 and 230.2% above the Manufacturing - Apparel & Accessories industry median of 0.43. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Girnar Spintex Industries (NSE:ASIL), the current Debt-to-Equity is 1.42 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Girnar Spintex Industries Ltd is an India-based company engaged in the business of spinning mills. It earns revenues from cotton sales, fabric sales, waste sales, and yarn sales. The company generates a majority of its revenues from yarn sales.
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