IPO Plus

₹40.85

▼ -2.14 -4.98%

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 · 2026-09-22

Mahan Industries Ltd. (531515)

Volume: 35,401Avg Vol 1W: 45,470Avg Vol 1M: 34,29152W Range:₹8.3₹52.63
BSE www.maha.co.in AI Report
Key Ratios
Checked 10h ago
Market Cap₹19 Cr
Current Price₹40.85
Previous Close₹42.99
High / Low (52w)₹52.63 / ₹8.3
Volume35,401
Avg Vol (1W)45,470
Avg Vol (1M)34,291
Stock P/E6.56
Book Value₹19.74
Dividend Yield0%
ROE33.21%
ROA13.9%
Revenue (TTM)—
Revenue Growth—
Profit Margin24.75%
Total Debt—
Shares Outstanding0 Cr
Face Value—
EPS (TTM)₹6.55
P/B2.18
Debt / Equity0.84
50 DMA₹23.46
200 DMA₹9.87
Day change-4.98%
SurveillanceESM · ESM 1
Price Chart
₹40.85▲ 392.17% · 1Y
₹50₹41.8L
2025-11-03
2026-10-27

20-day avg volume: 38K shares

Pros
  • Healthy return on equity of 33.2%.
  • Company is almost debt-free.
  • Revenue grew 187% YoY.
Quarterly Results
MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Revenue————————
EBITDA————————
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹1 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹0 Cr₹1 Cr₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹2 Cr₹6 Cr
EBITDA₹-4 Cr₹-1 Cr₹-3 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net Profit₹-4 Cr₹-1 Cr₹-3 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EPS-1.01-0.25-0.89-0.05-0.01-0.01-0.30.1
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹11 Cr₹9 Cr₹6 Cr₹7 Cr₹7 Cr₹7 Cr₹9 Cr₹11 Cr
Total Liabilities₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹4 Cr₹4 Cr₹4 Cr₹6 Cr
Equity₹7 Cr₹6 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹5 Cr₹5 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹-2 Cr₹-1 Cr₹0 Cr₹0 Cr₹-2 Cr₹0 Cr
Investing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-2 Cr
Financing₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹2 Cr₹2 Cr
Free Cash Flow₹-2 Cr₹-1 Cr₹0 Cr₹0 Cr₹-2 Cr₹0 Cr
Shareholding
Promoter 1.16% Institutions 0% Public 98.84%
Efficiency & Working Capital
ROCE20.3%
Interest Coverage1.7
Dividend Payout—
Debtor Days75 d
Inventory Days72 d
Payable Days26 d
Cash Conversion Cycle122 d
Working Capital Days147 d
Shareholding Details

As of 2026-09-30

Promoter1.2%
FII0%
DII0%
Institutions0%
Public98.8%
Promoter Pledge0%
No. of Shareholders7,896
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodMar 2024Jun 2024Sept 2024Dec 2024Feb 2025Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters1.5%1.5%1.5%1.5%1.5%1.2%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%98.8%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 Shareholders4,5615,6437,6029,6467,8738,4438,7868,5788,3988,2368,0887,896
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Godavari Commercial Services Private LimPublic Shareholding5.6%2,51,000
Kapadia Finwealth LlpPublic Shareholding5.6%2,50,000
Shah Amee TPublic Shareholding5.6%2,50,000
Religare Finvest LtdPublic 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
Ruchira GoyalPublic Shareholding2.2%97,986
Westlite Infraprojects Private LimitedPublic Shareholding2%89,636
Yuvika TradewingPublic Shareholding1.5%67,500
Rishabh GoelPublic Shareholding1.4%63,422
Yogendrakumar Gupta PrabhudayalShareholding of Promoter and Promoter Group1.2%52,169
Rishabh GoelPublic Shareholding1.1%49,540
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
2026₹106055
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-14Board Meetings—
forthcoming2026-07-16Board Meetings—
forthcoming2026-07-14Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2026000000
2026000000
2026000000
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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