Debut Plus

₹13.44

■ +0

As of 04 May 2026 · delayed

BSE Listed

GSM 2

Mathew Easow Research Sec (511688)

Volume: 2Avg Vol 1W: 25Avg Vol 1M: 1,70852W Range:₹10.88₹13.44
BSE www.mersl.co.in
Key Ratios
Checked just now
Market Cap₹9 Cr
Current Price₹13.44
Previous Close₹13.44
High / Low (52w)₹13.44 / ₹10.88
Volume2
Avg Vol (1W)25
Avg Vol (1M)1,708
Stock P/E112
Book Value₹21.44
Dividend Yield0%
ROE57.29%
ROA22.02%
Revenue (TTM)—
Revenue Growth—
Profit Margin281.69%
Total Debt—
Shares Outstanding1 Cr
Face Value—
EPS (TTM)₹0.12
P/B0.63
Debt / Equity1.6
50 DMA₹11.93
200 DMA₹9.73
Day change—
SurveillanceGSM 2 (as of 2026-07-17)
Price Chart
₹13.44▲ 12.66% · 1Y
₹13₹915K
2025-07-16
2026-05-04

20-day avg volume: 2K shares

Pros
  • Healthy return on equity of 57.3%.
  • Company is almost debt-free.
  • Net profit is growing year over year.
  • Stock trades below its book value.
Cons
  • Revenue fell 82% YoY.
  • Stock trades at a high P/E of 112.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 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 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹4 Cr₹3 Cr₹5 Cr₹2 Cr₹2 Cr₹2 Cr₹15 Cr₹3 Cr
EBITDA₹1 Cr₹0 Cr₹0 Cr₹0 Cr₹-1 Cr₹0 Cr₹0 Cr₹0 Cr
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
EPS0.680.270.20.170.160.070.090.12
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹26 Cr₹84 Cr₹30 Cr₹46 Cr₹48 Cr₹46 Cr₹37 Cr₹36 Cr
Total Liabilities₹12 Cr₹70 Cr₹16 Cr₹32 Cr₹34 Cr₹32 Cr₹23 Cr₹22 Cr
Equity₹13 Cr₹14 Cr₹14 Cr₹14 Cr₹14 Cr₹14 Cr₹14 Cr₹14 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹-15 Cr₹-2 Cr₹4 Cr₹10 Cr₹3 Cr
Investing₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr
Financing₹15 Cr₹1 Cr₹-4 Cr₹-11 Cr₹-3 Cr
Free Cash Flow₹-15 Cr₹-2 Cr₹4 Cr₹10 Cr₹3 Cr
Shareholding
Promoter 31.28% Institutions 0.61% Public 68.11%
Efficiency & Working Capital
ROCE4.2%
Interest Coverage1.1
Dividend Payout—
Debtor Days0 d
Inventory Days3 d
Payable Days24 d
Cash Conversion Cycle-21 d
Working Capital Days3 d
Shareholding Details

As of 2026-06-30

Promoter31.3%
FII0%
DII0.6%
Institutions0.6%
Public68.1%
Promoter Pledge0%
No. of Shareholders3,462
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Promoters31.3%31.3%31.3%31.3%31.3%31.3%31.3%31.3%31.3%31.3%31.3%31.3%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0.6%0.6%0.6%0.6%0.6%0.6%0.6%0.6%0.6%0.6%0.6%
Public68.7%68.1%68.1%68.1%68.1%68.1%68.1%68.1%68.1%68.1%68.1%68.1%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders3,3073,3743,4083,4513,4663,4663,4693,4693,4653,4603,4623,462
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Mathew Easow Fiscal Services LtdShareholding of Promoter and Promoter Group22.5%14,95,946
Vista Vyapaar Private LimitedShareholding of Promoter and Promoter Group8.8%5,84,397
Sunil Ghorawat .Public Shareholding6.4%4,25,175
Religare Finvest LtdPublic Shareholding4.8%3,20,000
Bijco Holding LimitedPublic Shareholding4.5%3,00,050
Ushita Trading And Agencies LimitedPublic Shareholding3.9%2,59,952
Alipore Commercial Private LimitedPublic Shareholding3.3%2,17,140
Amar Packagings Private LimitedPublic Shareholding2.8%1,85,000
Annexation Commosales Private LimitedPublic Shareholding2.8%1,84,595
Bihan Trading Private LimitedPublic Shareholding2.2%1,47,600
Avlokan Vinimay Private LimitedPublic Shareholding2.1%1,41,644
Angaarika Vintrade Private LimitedPublic Shareholding2.1%1,37,710
Seminary Tie-up Private LimitedPublic Shareholding2%1,34,000
Rajendra SethiaPublic Shareholding1.8%1,20,000
Pritha MundraPublic Shareholding1.5%1,00,000
Meenakshi SharmaPublic Shareholding1.2%80,551
Sushila SethiaPublic Shareholding1.1%75,000
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Mathew Easow Fiscal Services Ltd00%2026-06-30
Vista Vyapaar Private Limited00%2026-06-30
Sunil Ghorawat .00%2026-06-30
Rajendra Sethia00%2026-06-30
Pritha Mundra00%2026-06-30
Meenakshi Sharma00%2026-06-30
Sushila Sethia00%2026-06-30
Religare Finvest Ltd00%2026-06-30
Bijco Holding Limited00%2026-06-30
Ushita Trading And Agencies Limited00%2026-06-30
Alipore Commercial Private Limited00%2026-06-30
Amar Packagings Private Limited00%2026-06-30
Board of Directors
NameDesignationYear
BEDA NAND CHOUDHARYE D & Wholetime Director2025
PRITHA SINHANon Executive Women Director2025
Jitendra Kumar BhagatIndependent Non Exe. Director2025
Rajshree MundhraCompany Sec. & Compli. Officer2025
Ganga Sharan PandeyAdditional Director2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹101777
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202500007—
2025000066
2025000011
Company Information
Incorporated1994
AuditorGGPS & Associates
Investor Email[email protected]
🌐 www.mersl.co.in ↗

📍 Rajkamal Building 128 1st Flr, Rash Behari Avenue, Kolkata, West Bengal, 700029

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