Debut Plus

₹166.75

▲ +3.49 +2.14%

10 Sept 2026

BSE Listed · Infrastructure Developers & Operators

GSM · GSM 1
What does GSM · GSM 1 mean?
BSE · Graded Surveillance Measure (GSM 1)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 · 2026-06-22

Artson Limited (522134)

Volume: 4,629Avg Vol 1W: 19,155Avg Vol 1M: 12,08252W Range:₹125.3₹227.5
BSE www.artson.net AI Report
Key Ratios
Checked just now
Market Cap₹616 Cr
Current Price₹166.75
Previous Close₹163.26
High / Low (52w)₹227.5 / ₹125.3
Volume4,629
Avg Vol (1W)19,155
Avg Vol (1M)12,082
Stock P/E175.82
Book Value₹-19.87
Dividend Yield0%
ROE-2,794.99%
ROA-9.32%
Revenue (TTM)—
Revenue Growth—
Profit Margin-7.94%
Total Debt—
Shares Outstanding4 Cr
Face Value₹1
EPS (TTM)₹0
P/B—
Debt / Equity20.39
50 DMA₹156.3
200 DMA₹154.34
Day change+2.14%
SurveillanceGSM · GSM 1
Price Chart
₹166.75▼ 1.91% · 1Y
₹217₹1272.7L
2025-09-10
2026-09-10

20-day avg volume: 11K shares

Pros
  • Company is almost debt-free.
  • Revenue grew 23% YoY.
Cons
  • Company is loss-making at the latest annual result.
  • Stock trades at a high P/E of 176.
  • Negative book value per share.
Quarterly Results
MetricSept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Revenue₹20 Cr₹18 Cr₹51 Cr₹45 Cr₹48 Cr₹32 Cr₹39 Cr₹26 Cr
EBITDA₹-2 Cr₹11 Cr₹3 Cr₹3 Cr₹-1 Cr₹-15 Cr₹5 Cr₹1 Cr
Net Profit₹-3 Cr₹6 Cr₹1 Cr₹0 Cr₹-2 Cr₹-12 Cr₹3 Cr₹0 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹162 Cr₹170 Cr₹152 Cr₹174 Cr₹132 Cr₹129 Cr₹133 Cr₹164 Cr
EBITDA₹7 Cr₹16 Cr₹5 Cr₹6 Cr₹-11 Cr₹13 Cr₹15 Cr₹-8 Cr
Net Profit₹-2 Cr₹-1 Cr₹-6 Cr₹-5 Cr₹-24 Cr₹6 Cr₹3 Cr₹-11 Cr
EPS-0.46-0.2-1.54-1.36-6.371.640.94-2.95
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹144 Cr₹160 Cr₹175 Cr₹141 Cr₹156 Cr₹151 Cr₹172 Cr₹123 Cr
Total Liabilities₹138 Cr₹155 Cr₹174 Cr₹140 Cr₹171 Cr₹150 Cr₹167 Cr₹123 Cr
Equity₹6 Cr₹5 Cr₹0 Cr₹0 Cr₹-15 Cr₹1 Cr₹5 Cr₹0 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹16 Cr₹14 Cr₹-3 Cr₹-5 Cr₹18 Cr₹-3 Cr
Investing₹-2 Cr₹-2 Cr₹-2 Cr₹-1 Cr₹7 Cr₹5 Cr
Financing₹7 Cr₹-16 Cr₹7 Cr₹5 Cr₹-23 Cr₹-4 Cr
Free Cash Flow₹16 Cr₹14 Cr₹-3 Cr₹-5 Cr₹18 Cr₹-3 Cr
Shareholding
Promoter 75% Institutions 0.02% Public 24.98%
Efficiency & Working Capital
ROCE-14%
Interest Coverage-1
Dividend Payout—
Debtor Days76 d
Inventory Days34 d
Payable Days108 d
Cash Conversion Cycle2 d
Working Capital Days109 d
Shareholding Details

As of 2026-06-30

Promoter75%
FII0%
DII0%
Institutions0%
Public25%
Promoter Pledge0%
No. of Shareholders17,719
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Promoters75%75%75%75%75%75%75%75%75%75%75%75%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0.1%0.1%0.1%0.1%0%0%0%0%0%0%
Public25%25%24.9%24.9%24.9%24.9%25%25%25%25%25%25%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders23,52622,94721,94320,81120,51819,79719,39118,90218,38318,01117,73317,719
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Tata Projects LimitedShareholding of Promoter and Promoter Group75%2.77 Cr
Consortium Securities Private LimitedPublic Shareholding1.1%4,20,505
Guttikonda Vara LakshmiPublic Shareholding1%3,80,128
Board of Directors
NameDesignationYear
VINAYAK RATNAKAR PAIChairman & Non Executive Dir.2025
Jyotisman DasguptaIndependent Non Exe. Director2025
Shashank S JhaWhole Time Director & Chief Executive Officer2025
Ashish KulkarniIndependent Non Exe. Director2025
Priya KherIndependent Non Exe. Director2025
Deepak TibrewalCompany Sec. & Compli. Officer2025
Neeraj AgrawalAdditional Director2025
Segments — Product
SegmentRevenueShare
Income from sale of goods₹61 Cr46.6%
Income from fabrication activities₹17 Cr12.8%
Income from contracts₹50 Cr38.1%
Other operating revenues₹3 Cr2.5%
Segments — Geography
RegionRevenueShare
India₹131 Cr100%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹11544
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-15Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202530030-58
2025200003
2025000000
Company Information
Incorporated1978
ChairmanVINAYAK RATNAKAR PAI
AuditorPrice Waterhouse & Co Chartered Accountants LLP
Investor Email[email protected]
🌐 www.artson.net ↗

📍 11th Flr Hiranandani Knowledge, Park Technology Street Powai, Mumbai, Maharashtra, 400076

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