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₹16.34

▲ +0.77 +4.95%

16 Sept 2026

BSE Listed

GSM · GSM 4
What does GSM · GSM 4 mean?
BSE · Graded Surveillance Measure (GSM 4)GSM targets fundamentally weak companies whose price doesn't square with their financials (tiny net worth or negative/extreme P/E). Practical meaning: the exchange doubts the price is backed by the business. Stage 0 is a watchlist; each higher stage makes the stock progressively harder to trade — tighter bands, full upfront margin, weekly-only trading, and at Stage IV no upward price movement at all. Exiting requires a quarterly review finding the criteria no longer met.Criteria: Shortlisted on objective financial parameters — net worth, net fixed assets, price-to-earnings multiple and market capitalisation. Stage 0 = base surveillance watchlist (identified under GSM, no graded price restriction yet); Stages I–VI add escalating curbs (price band, 100% margin, periodic call auction, settlement on a gross/trade-for-trade basis, no upward price movement).Exchange notice · 2026-06-09

Mahan Industries Ltd. (531515)

Volume: 528Avg Vol 1W: 614Avg Vol 1M: 11,55852W Range:₹8.3₹16.34
BSE www.maha.co.in AI Report
Key Ratios
Checked just now
Market Cap₹7 Cr
Current Price₹16.34
Previous Close₹15.57
High / Low (52w)₹16.34 / ₹8.3
Volume528
Avg Vol (1W)614
Avg Vol (1M)11,558
Stock P/E4.36
Book Value₹11.58
Dividend Yield0%
ROE88.53%
ROA15.33%
Revenue (TTM)—
Revenue Growth—
Profit Margin20.72%
Total Debt—
Shares Outstanding0 Cr
Face Value—
EPS (TTM)₹3.75
P/B1.41
Debt / Equity0.85
50 DMA₹10.8
200 DMA₹5.85
Day change+4.95%
SurveillanceGSM · GSM 4
Price Chart
₹16.34▲ 96.87% · 1Y
₹16₹41.8L
2025-09-22
2026-09-16

20-day avg volume: 12K shares

Pros
  • Healthy return on equity of 88.5%.
  • Company is almost debt-free.
  • Revenue grew 204% YoY.
Cons
  • Company is loss-making at the latest annual result.
Quarterly Results
MetricSept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Revenue————————
EBITDA————————
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹0 Cr₹0 Cr₹1 Cr₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹2 Cr
EBITDA₹0 Cr₹-4 Cr₹-1 Cr₹-3 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net Profit₹0 Cr₹-4 Cr₹-1 Cr₹-3 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EPS-0.09-1.01-0.25-0.89-0.05-0.01-0.01-0.3
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹15 Cr₹11 Cr₹9 Cr₹6 Cr₹7 Cr₹7 Cr₹7 Cr₹9 Cr
Total Liabilities₹4 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹4 Cr₹4 Cr₹4 Cr
Equity₹11 Cr₹7 Cr₹6 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹5 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹-2 Cr₹-1 Cr₹0 Cr₹0 Cr₹-2 Cr
Investing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Financing₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹2 Cr
Free Cash Flow₹-2 Cr₹-1 Cr₹0 Cr₹0 Cr₹-2 Cr
Shareholding
Promoter 1.16% Institutions 0% Public 98.84%
Efficiency & Working Capital
ROCE1.1%
Interest Coverage-0.7
Dividend Payout—
Debtor Days382 d
Inventory Days49 d
Payable Days12 d
Cash Conversion Cycle420 d
Working Capital Days432 d
Shareholding Details

As of 2026-06-30

Promoter1.2%
FII0%
DII0%
Institutions0%
Public98.8%
Promoter Pledge0%
No. of Shareholders8,088
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Feb 2025Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Promoters1.5%1.5%1.5%1.5%1.5%1.5%1.2%1.2%1.2%1.2%1.2%1.2%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public98.5%98.5%98.5%98.5%98.5%98.5%98.8%98.8%98.8%98.8%98.8%98.8%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders4,1014,5615,6437,6029,6467,8738,4438,7868,5788,3988,2368,088
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Mahan Industries Ltd -unclaimed SecuritiesPublic Shareholding29%13,03,184
Godavari Commercial Services Private LimitedPublic Shareholding5.6%2,51,000
Kapadia Finwealth LlpPublic Shareholding5.6%2,50,000
Shah Amee TPublic Shareholding5.6%2,50,000
Aalyya Traders Private LimitedPublic Shareholding3.8%1,69,500
Religare Finvest LimitedPublic Shareholding3.7%1,64,372
Gautam Keshavlal ChauhanPublic Shareholding3.4%1,55,000
Vegada N PradipkumarPublic Shareholding3.2%1,42,000
Noopur Kushan FarkiwalaPublic Shareholding2.3%1,03,000
Westlite Infraprojects Private LimitedPublic Shareholding2%89,636
Yuvika TradewingPublic Shareholding1.5%67,500
Ruchira GoyalPublic Shareholding1.2%55,299
Yogendrakumar GuptaShareholding of Promoter and Promoter Group1.2%52,169
Board of Directors
NameDesignationYear
Y K GuptaChairman / Executive Director / M D / Promoter2025
Amita Chhaganbhai PragadaIndependent Non Exe. Director2025
Sushilkumar GoelIndependent Non Exe. Director2025
Ritendrasinh K RathodCompany Sec. & Compli. Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹103755
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-14Board Meetings—
forthcoming2026-07-16Board Meetings—
forthcoming2026-07-14Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2025000000
2025000000
2025000000
Company Information
Incorporated1995
ChairmanY K Gupta
AuditorS D P M & Co.
Investor Email[email protected]
🌐 www.maha.co.in ↗

📍 D K House 3rd Floor, Near Mithakali Underbridge, Ahmedabad, Gujarat, 380006

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