IPO Plus

₹17.78

▼ -0.2 -1.11%

27 Oct 2026

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 · 2026-06-25

Amarnath Securities Ltd. (538465)

Volume: 3,843Avg Vol 1W: 2,406Avg Vol 1M: 9,40652W Range:₹10.06₹20.65
Market Cap₹5 Cr
Current Price₹17.78
Previous Close₹17.98
High / Low (52w)₹20.65 / ₹10.06
Volume3,843
Avg Vol (1W)2,406
Avg Vol (1M)9,406
Stock P/E—
Book Value₹-2.43
Dividend Yield0%
ROE713.18%
ROA-8,733.33%
Revenue (TTM)—
Revenue Growth—
Profit Margin-2,620%
Total Debt—
Shares Outstanding0 Cr
Face Value—
EPS (TTM)₹0
P/B—
Debt / Equity0.41
50 DMA₹15.36
200 DMA₹13.56
Day change-1.11%
SurveillanceGSM · GSM 2
Price Chart
₹17.78▲ 30.16% · 1Y
₹20₹111.2L
2025-10-27
2026-10-27

20-day avg volume: 8K shares

Pros
  • Healthy return on equity of 713.2%.
  • Company is almost debt-free.
  • Revenue grew 108% YoY.
Cons
  • Company is loss-making at the latest annual result.
  • Negative book value per share.
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₹-5 Cr₹0 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr
EBITDA₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-5 Cr
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-5 Cr
EPS0.50.3900.20.450.620.64-17.35
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹4 Cr₹4 Cr₹4 Cr₹5 Cr₹5 Cr₹5 Cr₹5 Cr₹0 Cr
Total Liabilities₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr
Equity₹4 Cr₹4 Cr₹4 Cr₹4 Cr₹4 Cr₹4 Cr₹4 Cr₹-1 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹0 Cr₹0 Cr₹4 Cr₹0 Cr₹0 Cr₹0 Cr
Investing₹0 Cr₹0 Cr₹-5 Cr₹0 Cr₹0 Cr₹0 Cr
Financing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Free Cash Flow₹0 Cr₹0 Cr₹4 Cr₹0 Cr₹0 Cr₹0 Cr
Shareholding
Promoter 0% Institutions 0% Public 100%
Efficiency & Working Capital
ROCE10488.5%
Interest Coverage-172.7
Dividend Payout—
Debtor Days0 d
Inventory Days0 d
Payable Days1161 d
Cash Conversion Cycle-1161 d
Working Capital Days0 d
Shareholding Details

As of 2026-09-30

Promoter0%
FII0%
DII0%
Institutions0%
Public100%
Promoter Pledge—
No. of Shareholders1,492
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters55.7%55.7%55.7%55.7%6.6%3.2%0%0%0%0%0%0%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public44.3%44.3%44.3%44.3%93.4%96.8%100%100%100%100%100%100%
Promoter Pledge0%0%0%0%0%0%——————
No. of Shareholders4634995175891,1371,4311,5211,6791,6391,5991,5691,492
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Somani Ventures And InnovationsPublic Shareholding7.7%2,30,869
Gx Ventures LlpPublic Shareholding6.8%2,03,912
Prakash ShahPublic Shareholding5.7%1,70,468
Ruchira GoyalPublic Shareholding2%60,049
Prashant Sunderji ShahPublic Shareholding1.9%58,203
Suman Prakash ShahPublic Shareholding1.7%51,367
Shraddhabahen Sagarkumar GhetiaPublic Shareholding1.7%50,000
Vikram Shreelal JainPublic Shareholding1.4%43,210
Anand Mohan .Public Shareholding1.3%40,000
Mahesh KumarPublic Shareholding1.3%38,722
Samar Shahaji RansingPublic Shareholding1.3%37,500
Shubham GargPublic Shareholding1.2%36,110
Mukeshkumar Premchand Lalwani .Public Shareholding1.2%36,000
Pavan Kumar Malur NagarajPublic Shareholding1.2%35,000
Sulekha GPublic Shareholding1.1%33,000
Deepak TayalPublic Shareholding1.1%33,147
Jalpaben Nikunjbhai BhuvaPublic Shareholding1.1%31,451
Board of Directors
NameDesignationYear
Chetan Balubhai PatelExecutive Director / Whole Time Director / CFO2025
Amit Priyakant PandyaExecutive Director / Whole Time Director2025
Sanjay Rajkumar DuaIndependent Non Exe. Director2025
Vaishali Dhruvabal MahadikIndependent Non Exe. Director2025
Nitin WalunjIndependent Non Exe. Director2025
Mitti M JainCompany Sec. & Compli. Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10733
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-14Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2026000000
2026000000
2026000000
Insider / Designated-Person Trades

1 recent disclosure(s)

Hemali Amit PandyaDisposal · 3,500
Substantial Acquisitions (SAST)

4 disclosure(s)

Market15/09/2026 · 10,048
Market14/08/2026 · 62,303
Market31/07/2026 · 15,000
Market24/07/2026 · 29,137
Company Information
Incorporated1994
AuditorS D P M & Co.
Investor Email[email protected]
🌐 www.amarnathsecurities.com ↗

📍 Sarthak 1/104 Opp C T Centre, B/h Swastik Cross Rd C G Rd, Ahmedabad, Gujarat, 380009

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