IPO Plus

₹5.49

▲ +0.09 +1.67%

27 Oct 2026

BSE Listed · Finance

GSM · GSM 0
What does GSM · GSM 0 mean?
BSE · Graded Surveillance Measure (GSM 0)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 · 2026-09-11

Amforge Industries Ltd. (513117)

Volume: 610Avg Vol 1W: 1,040Avg Vol 1M: 1,85852W Range:₹4.86₹10.43
BSE www.amforgeindia.com AI Report
Key Ratios
Checked just now
Market Cap₹8 Cr
Current Price₹5.49
Previous Close₹5.4
High / Low (52w)₹10.43 / ₹4.86
Volume610
Avg Vol (1W)1,040
Avg Vol (1M)1,858
Stock P/E78.43
Book Value₹9.1
Dividend Yield0%
ROE-307.98%
ROA54.17%
Revenue (TTM)—
Revenue Growth—
Profit Margin0%
Total Debt—
Shares Outstanding1 Cr
Face Value₹2
EPS (TTM)₹0.07
P/B0.6
Debt / Equity0.64
50 DMA₹5.61
200 DMA₹6.87
Day change+1.67%
SurveillanceGSM · GSM 0
Price Chart
₹5.49▼ 40.20% · 1Y
₹9₹555K
2025-10-27
2026-10-27

20-day avg volume: 2K shares

Pros
  • Company is almost debt-free.
  • Stock trades below its book value.
Cons
  • Company is loss-making at the latest annual result.
  • Stock trades at a high P/E of 78.
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₹0 Cr₹0 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr₹3 Cr
EBITDA₹0 Cr₹1 Cr₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹1 Cr₹0 Cr
Net Profit₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EPS-0.210.020.221.130.13-0.190.33-0.28
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹19 Cr₹19 Cr₹18 Cr₹19 Cr₹18 Cr₹17 Cr₹17 Cr₹18 Cr
Total Liabilities₹8 Cr₹9 Cr₹7 Cr₹6 Cr₹5 Cr₹4 Cr₹4 Cr₹5 Cr
Equity₹10 Cr₹10 Cr₹11 Cr₹12 Cr₹12 Cr₹13 Cr₹13 Cr₹13 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹-1 Cr₹-1 Cr₹-3 Cr₹-2 Cr₹-1 Cr₹-2 Cr
Investing₹4 Cr₹2 Cr₹5 Cr₹1 Cr₹1 Cr₹1 Cr
Financing₹-3 Cr₹-1 Cr₹0 Cr₹-2 Cr₹0 Cr₹1 Cr
Free Cash Flow₹-1 Cr₹-1 Cr₹-3 Cr₹-2 Cr₹-1 Cr₹-2 Cr
Shareholding
Promoter 56.96% Institutions 0.01% Public 43.03%
Efficiency & Working Capital
ROCE-1%
Interest Coverage-9.4
Dividend Payout—
Debtor Days—
Inventory Days—
Payable Days—
Cash Conversion Cycle—
Working Capital Days—
Shareholding Details

As of 2026-09-30

Promoter57%
FII0%
DII0%
Institutions0%
Public43%
Promoter Pledge0%
No. of Shareholders15,917
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters57%57%57%57%57%57%57%57%57%57%57%57%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0.2%0.2%0.2%0.2%0.2%0.2%0.2%0.2%0.2%0%0%0%
Public42.8%42.8%42.9%42.9%42.9%42.9%42.9%42.9%42.9%43%43%43%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders17,26317,30816,01515,98216,45116,38816,27416,18216,08316,02915,94115,917
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Viniyog Investment And Trading Co. Pvt. Ltd.Shareholding of Promoter and Promoter Group19%27,39,880
Nainesh Trading And Consultancy LlpShareholding of Promoter and Promoter Group18.7%26,90,245
Puneet MakarShareholding of Promoter and Promoter Group17.5%25,13,219
Manav Haresh LakhaniPublic Shareholding1.1%1,60,316
Reshma Yogiraj MakarShareholding of Promoter and Promoter Group0.9%1,26,756
Radhika Girish KapurShareholding of Promoter and Promoter Group0.4%62,796
Nutan LambaShareholding of Promoter and Promoter Group0.4%62,078
Board of Directors
NameDesignationYear
Puneet MakarChairman & Director2026
Jayesh Vinodchandra ThakkarManaging Director2026
Archana M. SoiDirector2026
Ajit P WalwaikarIndependent Non Exe. Director2026
Navin Chandramani SharmaIndependent Non Exe. Director2026
Sanjay Rajaram PosamIndependent Non Exe. Director2026
Bhavana ShahCompany Sec. & Compli. Officer2026
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹22033
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-11Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2026000022
2026000000
2026000012
Insider / Designated-Person Trades

2 recent disclosure(s)

YOGIRAJ MAKAR HUFDisposal · 75,660
RESHMA YOGIRAJ MAKARAcquisition · 75,660
Company Information
Incorporated1971
ChairmanPuneet Makar
AuditorBanka & Banka
Investor Email[email protected]
🌐 www.amforgeindia.com ↗

📍 1104-A Raheja Chambers 11Th, Floor Nariman Point, Mumbai, Maharashtra, 400021

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