IPO Plus

₹292.45

▼ -2.75 -0.93%

As of 06 Nov 2026 · delayed

NSE Listed

ESM · ESM 1
What does ESM · ESM 1 mean?
NSE · 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 · 2026-11-06

Flywings Simulator Training Centre Ltd. (FWSTC)

Volume: 32,400Avg Vol 1W: 34,800Avg Vol 1M: 85,62052W Range:₹145₹309.75
NSE BSE www.fwstc.in AI Report
Key Ratios
Checked 17h ago
Market Cap₹298 Cr
Current Price₹292.45
Previous Close₹295.2
High / Low (52w)₹309.75 / ₹145
Volume32,400
Avg Vol (1W)34,800
Avg Vol (1M)85,620
Stock P/E26.66
Book Value₹88.3
Dividend Yield0%
ROE12.96%
ROA9.6%
Revenue (TTM)₹26 Cr
Revenue Growth—
Profit Margin44.72%
Total Debt₹8 Cr
Shares Outstanding1 Cr
Face Value₹10
EPS (TTM)₹10.97
P/B3.31
Debt / Equity0.25
50 DMA₹217.99
200 DMA₹197.73
Day change-0.93%
SurveillanceESM · ESM 1
Price Chart
₹292.45▲ 42.83% · 1Y
₹295₹1507.8L
2025-12-12
2026-11-06

20-day avg volume: 86K shares

Pros
  • Company is almost debt-free.
Cons
  • Revenue fell 86% YoY.
  • Company is loss-making at the latest annual result.
Quarterly Results
MetricJun 2025
Revenue₹4 Cr
EBITDA₹2 Cr
Net Profit₹1 Cr
EPS—
Profit & Loss (Annual)
MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹1 Cr₹10 Cr₹23 Cr₹24 Cr₹26 Cr
EBITDA₹-1 Cr₹5 Cr₹15 Cr₹16 Cr₹16 Cr
Net Profit₹-3 Cr₹4 Cr₹10 Cr₹10 Cr₹12 Cr
EPS-4.095.6313.1614.0711.44
Balance Sheet
MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹15 Cr₹16 Cr₹44 Cr₹67 Cr₹111 Cr
Total Liabilities₹18 Cr₹15 Cr₹16 Cr₹28 Cr₹21 Cr
Equity₹-3 Cr₹1 Cr₹28 Cr₹39 Cr₹90 Cr
Total Debt₹12 Cr₹7 Cr₹10 Cr——
Cash Flow
MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹1 Cr₹12 Cr₹5 Cr₹10 Cr₹7 Cr
Investing₹1 Cr₹-1 Cr₹-12 Cr₹-17 Cr₹-16 Cr
Financing₹-1 Cr₹-5 Cr₹16 Cr₹4 Cr₹31 Cr
Free Cash Flow₹1 Cr₹12 Cr₹5 Cr₹10 Cr₹7 Cr
Shareholding
Promoter 59.87% Institutions 9.67% Public 30.46%
Efficiency & Working Capital
ROCE16.1%
Interest Coverage19.8
Dividend Payout—
Debtor Days143 d
Inventory Days0 d
Payable Days1 d
Cash Conversion Cycle142 d
Working Capital Days143 d
Shareholding Details

As of 2026-09-30

Promoter59.9%
FII1.3%
DII8.3%
Institutions9.7%
Public30.5%
Promoter Pledge24.2%
No. of Shareholders325
Shareholding Pattern

Quarterly — figures in %. Latest 7 quarters.

PeriodJul 2024Jul 2024Nov 2025Nov 2025Dec 2025Mar 2026Sept 2026
Promoters86.9%86.9%85.7%85.7%59.9%59.9%59.9%
FIIs0%0%0%0%6.7%4.2%1.3%
DIIs13.1%0%14.3%0%8.2%8.7%8.3%
Public0%13.1%0%14.3%25.2%27.2%30.5%
Promoter Pledge0%0%0%0%67.1%0%24.2%
No. of Shareholders33333636949358325
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Rupal Sanjay MandaviaShareholding of Promoter and Promoter Group59.9%60,93,414
Gretex Share Broking LimitedPublic Shareholding6.2%6,31,200
Rgsl Investment Fund - Rgsl Investment Lvf 1Public Shareholding5.4%5,50,200
Royal Alpha Opportunity FundPublic Shareholding2.1%2,08,200
Wasim Javid DalalPublic Shareholding1.9%1,91,037
Viney Equity Market LlpPublic Shareholding1.4%1,38,528
Has Lifestyle LimitedPublic Shareholding1.3%1,32,000
Shincho Asia Capital (incorporated Vcc Sub-fund)Public Shareholding1.1%1,15,200
Arpan Tie Up Private LimitedPublic Shareholding1%1,04,400
Kapil Mahesh KothariPublic Shareholding1%1,02,102
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Rupal Sanjay Mandavia14,72,98224.2%2026-09-30
Board of Directors
NameDesignationYear
Rupal Sanjay MandaviaCMD & Chief Financial Officer2025
Mitul Natvarlal MandaviaExecutive Director2025
Kripa Bhargav MandaviaNon Executive Director2025
S NatrajhenIndependent Director2025
Manita RaniIndependent Director2025
PARUL AGARWALCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Business of Providing Training Rela₹0 Cr—
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10121010
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2024000174474
2024000164473
2024000000
Company Information
Incorporated2011
ChairmanRupal Sanjay Mandavia
AuditorShah Kailash & Associates LLP
Investor Email[email protected]
🌐 www.fwstc.in ↗

📍 Ground Flr Killa #.13 Begampur, Khatola Sector 35 Sadar Bazar, Gurgaon, Haryana, 122001

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