IPO Plus

₹1.13

▼ -0.05 -4.24%

As of 29 Oct 2026 · delayed

BSE Listed

GSM · GSM 2
What does GSM · GSM 2 mean?
BSE · Graded Surveillance Measure (GSM 2)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

Minolta Finance Ltd. (532164)

Volume: 2,615Avg Vol 1W: 9,842Avg Vol 1M: 2,87,08652W Range:₹0.91₹1.73
BSE AI Report
Key Ratios
Checked 6h ago
Market Cap₹57 Cr
Current Price₹1.13
Previous Close₹1.18
High / Low (52w)₹1.73 / ₹0.91
Volume2,615
Avg Vol (1W)9,842
Avg Vol (1M)2,87,086
Stock P/E—
Book Value₹1.15
Dividend Yield0%
ROE-15.34%
ROA-13.67%
Revenue (TTM)—
Revenue Growth—
Profit Margin-175.56%
Total Debt—
Shares Outstanding50 Cr
Face Value—
EPS (TTM)₹0
P/B0.99
Debt / Equity11.24
50 DMA₹1.25
200 DMA₹1.33
Day change-4.24%
SurveillanceGSM · GSM 2
Price Chart
₹1.13▼ 22.07% · 1Y
₹5₹150.5L
2025-10-29
2026-10-29

20-day avg volume: 46K shares

Pros
  • Company is almost debt-free.
  • Revenue grew 1075% YoY.
  • Stock trades below its book value.
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₹-6 Cr₹2 Cr₹3 Cr₹0 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹1 Cr₹1 Cr₹0 Cr₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹12 Cr
EBITDA₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-2 Cr
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-1 Cr
EPS0.130.190.050.050.050.050.01-1.43
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹11 Cr₹11 Cr₹11 Cr₹13 Cr₹13 Cr₹12 Cr₹59 Cr₹190 Cr
Total Liabilities₹0 Cr₹1 Cr₹1 Cr₹2 Cr₹2 Cr₹2 Cr₹48 Cr₹181 Cr
Equity₹10 Cr₹11 Cr₹11 Cr₹11 Cr₹11 Cr₹11 Cr₹11 Cr₹9 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹0 Cr₹0 Cr₹-4 Cr₹0 Cr₹0 Cr₹11 Cr
Investing₹0 Cr₹0 Cr₹4 Cr₹0 Cr₹0 Cr₹0 Cr
Financing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-1 Cr₹-10 Cr
Free Cash Flow₹0 Cr₹0 Cr₹-4 Cr₹0 Cr₹0 Cr₹11 Cr
Shareholding
Promoter 0.72% Institutions 0% Public 99.28%
Efficiency & Working Capital
ROCE4.1%
Interest Coverage0.8
Dividend Payout—
Debtor Days0 d
Inventory Days0 d
Payable Days1 d
Cash Conversion Cycle-1 d
Working Capital Days0 d
Shareholding Details

As of 2026-09-30

Promoter0.7%
FII0%
DII0%
Institutions0%
Public99.3%
Promoter Pledge0%
No. of Shareholders2,988
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%3.6%0.7%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public96.4%96.4%96.4%96.4%96.4%96.4%96.4%96.4%96.4%96.4%96.4%99.3%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders1,9921,9992,0602,0102,0022,0112,1292,2752,4062,4582,4902,988
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Kamal Vijaykumar HufPublic Shareholding2.1%1.04 Cr
Susheela Vijaykumar SuranaPublic Shareholding2.1%1.04 Cr
Tirupati Fincorp LimitedPublic Shareholding1.7%86,98,947
Jaya Shripal ShahPublic Shareholding1.7%83,33,300
Purav Viratbhai ShahPublic Shareholding1.7%83,33,335
Bobros Consultancy Services Private LimiPublic Shareholding1.2%60,20,019
Mitali Manish Kumar PawarPublic Shareholding1.2%58,74,001
Priyanka Deep ShahPublic Shareholding1.2%58,35,000
Rajendrakumar Amarchand ShahPublic Shareholding1%50,42,000
Marshall Commodities Private LimitedShareholding of Promoter and Promoter Group0.3%12,68,750
Hanuman Exports And Resources Private LiShareholding of Promoter and Promoter Group0.2%11,40,500
Advance Fabrication Private LimitedShareholding of Promoter and Promoter Group0.1%3,62,210
Sugam Commercial Private LimitedShareholding of Promoter and Promoter Group0.1%2,38,590
Sun Flower Vinimay Private LimitedShareholding of Promoter and Promoter Group0.1%2,59,860
Sati Trexim Private LimitedShareholding of Promoter and Promoter Group0%1,05,000
Ashok Kumar GoenkaShareholding of Promoter and Promoter Group0%50,000
Rajiv S KothariShareholding of Promoter and Promoter Group0%30,000
Rajkumar GoenkaShareholding of Promoter and Promoter Group0%70,000
Shova GoenkaShareholding of Promoter and Promoter Group0%50,000
Malti S KothariShareholding of Promoter and Promoter Group0%15,000
Board of Directors
NameDesignationYear
Forum Jigar GadaExecutive Director2025
Arvind Jethlala GalaNon-Exec & Non-Independent Dir2025
KUNJAL ARVIND GALANon-Exec & Non-Independent Dir2025
Papiya NandyIndependent Non Exe. Director2025
Kinjal Darshit PakhariyaIndependent Non Exe. Director2025
Mahesh Manharlal ShahIndependent Non Exe. Director2025
Manmohan JindalIndependent Non Exe. Director2025
Gaurav KhandelwalCompany Secretary / Compliance Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10101010
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-10Board Meetings—
forthcoming2026-08-07Board Meetings—
forthcoming2026-07-17Rights (Ratio =4:1)4:1 Rights Issue of Equity Shares
rights2026-07-17Right Issue of Equity Shares—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
20260000481481
20260000391391
2026000000
Substantial Acquisitions (SAST)

1 disclosure(s)

Market13/08/2026 · 2,62,670
Company Information
Incorporated1993
AuditorKhandelwal Prem & Associates/JCR & Co. LLP.
Investor Email[email protected]
🌐 www.minolta.co.in ↗

📍 37 A & B Stephen House, 4 B B D Bagh (E), Kolkata, West Bengal, 700001

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