IPO Plus

₹71.18

▼ -3.74 -4.99%

As of 23 Oct 2026 · delayed

BSE Listed

ESM · ESM 1
What does ESM · ESM 1 mean?
BSE · Enhanced Surveillance Measure (ESM 1)ESM is the micro/small-cap ramp brake: it fires when a sub-₹1000cr stock's price variation is extreme versus its peer universe, or it's loss-making with a stretched valuation. Practical meaning: intraday speculation is shut off (Trade-for-Trade — every purchase must be taken to delivery), margins go to 100%, and at Stage II price discovery moves to periodic call auctions inside a 2% band.Criteria: Micro / small-cap companies (main-board market-cap below ₹500 cr) shortlisted on objective price parameters — high-low price variation, close-to-close price variation and standard deviation. Stage I = 100% margin + a ≤5% price band + Trade-for-Trade; Stage II = a 2% price band + periodic call auction.Exchange notice · 2026-10-21

ADITYA FORGE LTD. (522150)

Volume: 25,977Avg Vol 1W: 38,025Avg Vol 1M: 49,11952W Range:₹32.96₹74.92
BSE www.adityaforge.com
Key Ratios
Checked 1h ago
Market Cap₹31 Cr
Current Price₹71.18
Previous Close₹74.92
High / Low (52w)₹74.92 / ₹32.96
Volume25,977
Avg Vol (1W)38,025
Avg Vol (1M)49,119
Stock P/E187.32
Book Value₹-7.92
Dividend Yield0%
ROE-382.26%
ROA11.51%
Revenue (TTM)—
Revenue Growth—
Profit Margin0%
Total Debt—
Shares Outstanding0 Cr
Face Value—
EPS (TTM)₹0.38
P/B0
Debt / Equity0
50 DMA—
200 DMA—
Day change-4.99%
SurveillanceESM · ESM 1
Price Chart
₹71.18▲ 105.72% · 1Y
₹75₹354.1L
2026-10-01
2026-10-23

20-day avg volume: 49K shares

Pros
  • Company is almost debt-free.
Cons
  • Company is loss-making at the latest annual result.
  • Stock trades at a high P/E of 187.
  • Negative book value per share.
Quarterly Results
MetricSept 2017Mar 2020Sept 2020Dec 2020Mar 2021Jun 2021Mar 2022
Revenue₹244 Cr₹3 Cr₹4 Cr₹3 Cr₹2 Cr₹2 Cr₹8 Cr
EBITDA₹-54 Cr₹0 Cr₹0 Cr₹0 Cr₹-1 Cr₹0 Cr₹0 Cr
Net Profit₹-55 Cr₹-1 Cr₹0 Cr₹0 Cr₹-1 Cr₹0 Cr₹0 Cr
EPS———————
Profit & Loss (Annual)
MetricMar 2025Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Mar 2026Jun 2026
Revenue₹14 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EBITDA₹8 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net Profit₹7 Cr₹-1 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EPS16.2————0.3——
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹10 Cr₹7 Cr₹6 Cr₹7 Cr₹11 Cr₹9 Cr₹2 Cr₹1 Cr
Total Liabilities₹20 Cr₹18 Cr₹19 Cr₹20 Cr₹23 Cr₹19 Cr₹6 Cr₹5 Cr
Equity₹-10 Cr₹-11 Cr₹-13 Cr₹-13 Cr₹-13 Cr₹-11 Cr₹-4 Cr₹-3 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹0 Cr₹1 Cr₹1 Cr₹8 Cr₹-10 Cr₹0 Cr
Investing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹11 Cr₹0 Cr
Financing₹0 Cr₹0 Cr₹0 Cr₹-4 Cr₹-3 Cr₹0 Cr
Free Cash Flow₹0 Cr₹1 Cr₹1 Cr₹8 Cr₹-10 Cr₹0 Cr
Shareholding
Promoter 33.97% Institutions 0.01% Public 66.02%
Efficiency & Working Capital
ROCE-31%
Interest Coverage0
Dividend Payout—
Debtor Days—
Inventory Days—
Payable Days—
Cash Conversion Cycle—
Working Capital Days—
Shareholding Details

As of 2026-09-30

Promoter34%
FII0%
DII0%
Institutions0%
Public66%
Promoter Pledge0%
No. of Shareholders4,161
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters34%34%34%34%34%34%34%34%34%34%34%34%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public66%66%66%66%66%66%66%66%66%66%66%66%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders4,1564,1594,1604,1604,1604,1604,1604,1604,1604,1614,1614,161
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Nitin Rasiklal ParekhShareholding of Promoter and Promoter Group15.4%6,63,900
Nitin Rasiklal Parekh (huf)Shareholding of Promoter and Promoter Group10.9%4,67,957
Ethio Plastics Private LimitedShareholding of Promoter and Promoter Group3.4%1,47,500
Rahul ShahPublic Shareholding3.2%1,35,787
Ramrakh R BohraPublic Shareholding2.3%1,00,200
Pankaj Rasiklal ParekhShareholding of Promoter and Promoter Group1.5%65,300
Aditya Nitin ParekhShareholding of Promoter and Promoter Group1.1%46,300
Rekha N. ParekhShareholding of Promoter and Promoter Group0.7%29,000
Mahesh Mansukhlal NandaniShareholding of Promoter and Promoter Group0.3%12,100
Amolee Pankaj ParekhShareholding of Promoter and Promoter Group0.3%10,600
Bijal Nitin ParekhShareholding of Promoter and Promoter Group0.2%10,400
Khushboo Pankaj ParekhShareholding of Promoter and Promoter Group0.2%10,500
Shachi ParekhShareholding of Promoter and Promoter Group0%0
Aditya Exim LtdShareholding of Promoter and Promoter Group0%0
Board of Directors
NameDesignationYear
Nitin R ParekhNon Independent Executive Director / MD2025
Kiran B. MistriIndependent Non Exe. Director2025
Heerla Lal KumharIndependent Non Exe. Director2025
Priyanka SharmaNon Executive Director2025
Priyanka BakhtyarpuriCompany Sec. & Compli. Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10644
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-14Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2026000001
2026000001
2026000000
Company Information
Incorporated1992
AuditorM A A K & Associates
Investor Email[email protected]
🌐 www.adityaforge.com ↗

📍 T4 Shreeje Astra Avenue Ellora, Park, Vadodara, Gujarat, 390007

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