IPO Plus

₹186.9

▲ +5.2 +2.86%

As of 27 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 · 2026-09-17

Garg Furnace Ltd. (530615)

Volume: 2,932Avg Vol 1W: 3,948Avg Vol 1M: 15,43752W Range:₹108.65₹255.5
BSE www.gargltd.com AI Report
Key Ratios
Checked 4h ago
Market Cap₹124 Cr
Current Price₹186.9
Previous Close₹181.7
High / Low (52w)₹255.5 / ₹108.65
Volume2,932
Avg Vol (1W)3,948
Avg Vol (1M)15,437
Stock P/E11.33
Book Value₹145.44
Dividend Yield0%
ROE10.55%
ROA6.75%
Revenue (TTM)—
Revenue Growth—
Profit Margin371.92%
Total Debt—
Shares Outstanding1 Cr
Face Value—
EPS (TTM)₹16.04
P/B1.25
Debt / Equity0.18
50 DMA₹183.68
200 DMA₹145.34
Day change+2.86%
SurveillanceESM · ESM 1
Price Chart
₹186.9▲ 9.94% · 1Y
₹244₹1101.3L
2025-10-28
2026-10-27

20-day avg volume: 12K shares

Pros
  • Company is almost debt-free.
Cons
  • Revenue fell 24% YoY.
Quarterly Results
MetricSept 2025Dec 2025Mar 2026Jun 2026
Revenue₹62 Cr₹94 Cr₹78 Cr₹59 Cr
EBITDA₹3 Cr₹4 Cr₹4 Cr₹3 Cr
Net Profit₹3 Cr₹4 Cr₹3 Cr₹2 Cr
EPS————
Profit & Loss (Annual)
MetricMar 2025Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Mar 2026Jun 2026
Revenue₹74 Cr₹263 Cr₹60 Cr₹61 Cr₹92 Cr₹75 Cr₹295 Cr₹57 Cr
EBITDA₹3 Cr₹8 Cr₹1 Cr₹3 Cr₹4 Cr₹4 Cr₹12 Cr₹3 Cr
Net Profit₹3 Cr₹8 Cr₹1 Cr₹3 Cr₹4 Cr₹3 Cr₹10 Cr₹2 Cr
EPS—14.16————16.6—
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹58 Cr₹48 Cr₹44 Cr₹50 Cr₹59 Cr₹61 Cr₹78 Cr₹165 Cr
Total Liabilities₹49 Cr₹35 Cr₹35 Cr₹35 Cr₹38 Cr₹12 Cr₹16 Cr₹34 Cr
Equity₹9 Cr₹13 Cr₹8 Cr₹15 Cr₹21 Cr₹49 Cr₹62 Cr₹131 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹3 Cr₹0 Cr₹9 Cr₹-13 Cr₹3 Cr₹-14 Cr
Investing₹0 Cr₹-2 Cr₹-4 Cr₹0 Cr₹-5 Cr₹-72 Cr
Financing₹-2 Cr₹2 Cr₹-6 Cr₹19 Cr₹6 Cr₹76 Cr
Free Cash Flow₹3 Cr₹0 Cr₹9 Cr₹-13 Cr₹3 Cr₹-14 Cr
Shareholding
Promoter 56.91% Institutions 0% Public 43.09%
Efficiency & Working Capital
ROCE10.2%
Interest Coverage24.4
Dividend Payout—
Debtor Days29 d
Inventory Days25 d
Payable Days14 d
Cash Conversion Cycle40 d
Working Capital Days54 d
Shareholding Details

As of 2026-09-30

Promoter56.9%
FII0%
DII0%
Institutions0%
Public43.1%
Promoter Pledge0%
No. of Shareholders3,593
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodMar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Jul 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters68.9%68.9%49.4%56.9%53.4%53.4%56.9%53.4%53.4%53.4%56.9%56.9%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public31.1%31.1%50.6%43.1%46.6%46.6%43.1%46.6%46.6%46.6%43.1%43.1%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders2,0252,0622,7523,0433,1333,1713,1733,2163,2073,1213,1163,593
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Vaneera GargShareholding of Promoter and Promoter Group26%17,68,510
Davinder GargShareholding of Promoter and Promoter Group12.6%8,54,290
Toshak GargShareholding of Promoter and Promoter Group9.1%6,16,951
Daksh GargShareholding of Promoter and Promoter Group9%6,10,550
Sangeeta PareekhPublic Shareholding4.4%3,00,000
Bgp 11 Analytics Private LimitedPublic Shareholding4.4%3,00,000
Securocrop Securities India Private LimitedPublic Shareholding4.4%3,00,000
Saket AgarwalPublic Shareholding2.1%1,45,000
Davinder Garg And SonsShareholding of Promoter and Promoter Group0.4%23,600
Amarpreet Singh ThukralShareholding of Promoter and Promoter Group0%1,000
Board of Directors
NameDesignationYear
Devinder GargChairman & Managing Director2026
Vaneera GargWTD & Executive Director2026
Toshak GargManaging Director2026
Amandeep KaurIndependent Non Exe. Director2026
Shruti GuptaIndependent Non Exe. Director2026
Mehak JainIndependent Non Exe. Director2026
Supreena TagraCompany Sec. & Compli. Officer2026
Segments — Product
SegmentRevenueShare
Steel₹99 Cr100%
Segments — Geography
RegionRevenueShare
Domestic₹262 Cr100%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹101077
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-14Board Meetings—
forthcoming2026-07-31Board Meetings—
forthcoming—Book ClosureAGM
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202671001072
202648000048
2026000101
Insider / Designated-Person Trades

4 recent disclosure(s)

Daksh Garg RevisedAcquisition · 4,00,000
Toshak Garg RevisedAcquisition · 4,00,000
Davinder Garg RevisedAcquisition · 2,00,000
Vaneera Garg RevisedAcquisition · 2,00,000
Substantial Acquisitions (SAST)

15 disclosure(s)

Conv. of Warrants15/07/2025 · 12,00,000
Conv. of Warrants15/07/2025 · 12,00,000
Pref. Allotment15/07/2025 · 6,00,000
Conv. of Warrants15/07/2025 · 12,00,000
Pref. Allotment15/07/2025 · 6,00,000
Conv. of Warrants01/10/2024 · 8,00,000
Company Information
Incorporated1973
ChairmanDevinder Garg
AuditorAshwani & Associates
Investor Email[email protected]
🌐 www.gargltd.com ↗

📍 Kanganwal Road G T Road, Ambala Side VPO Jugiana, Ludhiana, Punjab, 141120

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