₹152.6
▼ -6.24 -3.93%
17 Jul 2026
BSE Listed · Infrastructure Developers & Operators
GSM 2Artson Limited (522134)
Volume: 614Avg Vol 1W: 3,366Avg Vol 1M: 30,61352W Range:₹125.3₹227.5
Key Ratios
Checked just nowMarket Cap₹563 Cr
Current Price₹152.6
Previous Close₹158.84
High / Low (52w)₹227.5 / ₹125.3
Volume614
Avg Vol (1W)3,366
Avg Vol (1M)30,613
Stock P/E167.69
Book Value₹0.11
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/B1,437.24
Debt / Equity20.23
50 DMA₹165.36
200 DMA₹158.08
Day change-3.93%
SurveillanceGSM 2 (as of 2026-07-17)
Price Chart
₹152.6▼ 16.13% · 1Y
2025-07-172026-07-17
20-day avg volume: 24K shares
Pros
- Company is almost debt-free.
Cons
- Stock trades at a high P/E of 168.
Quarterly Results
| Metric | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 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)
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹141 Cr | ₹162 Cr | ₹170 Cr | ₹152 Cr | ₹174 Cr | ₹132 Cr | ₹129 Cr | ₹133 Cr |
| EBITDA | ₹11 Cr | ₹7 Cr | ₹16 Cr | ₹5 Cr | ₹6 Cr | ₹-11 Cr | ₹13 Cr | ₹15 Cr |
| Net Profit | ₹1 Cr | ₹-2 Cr | ₹-1 Cr | ₹-6 Cr | ₹-5 Cr | ₹-24 Cr | ₹6 Cr | ₹3 Cr |
| EPS | 0.35 | -0.46 | -0.2 | -1.54 | -1.36 | -6.37 | 1.64 | 0.94 |
Balance Sheet
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹110 Cr | ₹144 Cr | ₹160 Cr | ₹175 Cr | ₹141 Cr | ₹156 Cr | ₹151 Cr | ₹175 Cr |
| Total Liabilities | ₹104 Cr | ₹138 Cr | ₹155 Cr | ₹174 Cr | ₹140 Cr | ₹171 Cr | ₹150 Cr | ₹171 Cr |
| Equity | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹0 Cr | ₹0 Cr | ₹-15 Cr | ₹1 Cr | ₹5 Cr |
| Total Debt | — | — | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Operating | ₹16 Cr | ₹14 Cr | ₹-3 Cr | ₹-5 Cr | ₹18 Cr |
| Investing | ₹-2 Cr | ₹-2 Cr | ₹-2 Cr | ₹-1 Cr | ₹7 Cr |
| Financing | ₹7 Cr | ₹-16 Cr | ₹7 Cr | ₹5 Cr | ₹-23 Cr |
| Free Cash Flow | ₹16 Cr | ₹14 Cr | ₹-3 Cr | ₹-5 Cr | ₹18 Cr |
Shareholding
Promoter 75% Institutions 0.02% Public 24.98%
Efficiency & Working Capital
ROCE-14%
Interest Coverage1.5
Dividend Payout—
Debtor Days216 d
Inventory Days96 d
Payable Days240 d
Cash Conversion Cycle71 d
Working Capital Days311 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.
| Period | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0.1% | 0.1% | 0.1% | 0.1% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 25% | 25% | 24.9% | 24.9% | 24.9% | 24.9% | 25% | 25% | 25% | 25% | 25% | 25% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 23,526 | 22,947 | 21,943 | 20,811 | 20,518 | 19,797 | 19,391 | 18,902 | 18,383 | 18,011 | 17,733 | 17,719 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202503 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Tata Projects Limited | Shareholding of Promoter and Promoter Group | 75% | 2.77 Cr |
| Consortium Securities Private Limited | Public Shareholding | 1.1% | 4,20,505 |
| Guttikonda Vara Lakshmi | Public Shareholding | 1% | 3,80,128 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Tata Projects Limited | 0 | 0% | 2026-06-30 |
| Guttikonda Vara Lakshmi | 0 | 0% | 2026-06-30 |
| Consortium Securities Private Limited | 0 | 0% | 2026-06-30 |
| Tata Projects Limited | 0 | 0% | 2026-03-31 |
| Guttikonda Vara Lakshmi | 0 | 0% | 2026-03-31 |
| Consortium Securities Private Limited | 0 | 0% | 2026-03-31 |
| Tata Projects Limited | 0 | 0% | 2025-12-31 |
| Guttikonda Vara Lakshmi | 0 | 0% | 2025-12-31 |
| Consortium Securities Private Limited | 0 | 0% | 2025-12-31 |
| Tata Projects Limited | 0 | 0% | 2025-09-30 |
| Tata Projects Limited | 0 | 0% | 2025-06-30 |
| Guttikonda Vara Lakshmi | 0 | 0% | 2025-06-30 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| VINAYAK RATNAKAR PAI | Chairman & Non Executive Dir. | 2025 |
| Jyotisman Dasgupta | Independent Non Exe. Director | 2025 |
| Shashank S Jha | Whole Time Director & Chief Executive Officer | 2025 |
| Ashish Kulkarni | Independent Non Exe. Director | 2025 |
| Priya Kher | Independent Non Exe. Director | 2025 |
| Deepak Tibrewal | Company Sec. & Compli. Officer | 2025 |
| Neeraj Agrawal | Additional Director | 2025 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Income from sale of goods | ₹61 Cr | 46.6% |
| Income from fabrication activities | ₹17 Cr | 12.8% |
| Income from contracts | ₹50 Cr | 38.1% |
| Other operating revenues | ₹3 Cr | 2.5% |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| India | ₹131 Cr | 100% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2025 | ₹1 | 15 | 4 | 4 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-07-15 | Board Meetings | — |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 3 | 0 | 0 | 3 | 0 | -58 |
| 2025 | 2 | 0 | 0 | 0 | 0 | 3 |
| 2025 | 0 | 0 | 0 | 0 | 0 | 0 |
Company Information
Incorporated1978
ChairmanVINAYAK RATNAKAR PAI
AuditorPrice Waterhouse & Co Chartered Accountants LLP
Investor Email[email protected]
📍 11th Flr Hiranandani Knowledge, Park Technology Street Powai, Mumbai, Maharashtra, 400076
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