Debut Plus

₹1.6

▲ +0.01 +0.63%

As of 10 Sept 2026 · delayed

NSE Listed · Industrials

LT-ASM · ASM 1
What does LT-ASM · ASM 1 mean?
NSE · Long Term Additional Surveillance Measure (ASM 1)LT-ASM is the joint SEBI/exchange framework for SUSTAINED abnormal price moves (contrast ST-ASM's 5–15-day spikes). Entry is beta-adjusted price variation versus the Nifty (e.g. 3-month high-low above 150% plus the stock's β × index move) along with client-concentration checks. Stages I–IV escalate from a 5% price band through 100% margin to Trade-for-Trade with an additional surveillance deposit. Practical meaning: the exchange still considers the price action abnormal — tighter bands and elevated margins continue even if another measure (like ESM) has lifted. A stock can sit under LT-ASM on both exchanges via either exchange's shortlisting; it is a preventive cost-of-speculation measure, not an adverse finding against the company.Criteria: High 3-month / 12-month high-low price variation, close-to-close price variation, client concentration, number of price-band hits, market-wide position limit and P/E — applied in graded Stages I–IV with escalating margin and price-band curbs.Exchange notice · 2026-08-18

Ganga Forging Limited (GANGAFORGE)

Volume: 31,83,731Avg Vol 1W: 49,33,168Avg Vol 1M: 83,60,17452W Range:₹1.53₹4.15
NSE BSE www.gangaforging.com AI Report
Key Ratios
Checked just now
Market Cap₹54 Cr
Current Price₹1.6
Previous Close₹1.59
High / Low (52w)₹4.15 / ₹1.53
Volume31,83,731
Avg Vol (1W)49,33,168
Avg Vol (1M)83,60,174
Stock P/E85.6
Book Value₹1.82
Dividend Yield0%
ROE-14.12%
ROA-380.23%
Revenue (TTM)₹35 Cr
Revenue Growth—
Profit Margin-6.56%
Total Debt—
Shares Outstanding34 Cr
Face Value₹1
EPS (TTM)₹0
P/B0.88
Debt / Equity0.42
50 DMA₹1.98
200 DMA₹2.68
Day change+0.63%
SurveillanceLT-ASM · ASM 1
Price Chart
₹1.6▼ 58.12% · 1Y
₹5₹24.1Cr
2025-09-10
2026-09-10

20-day avg volume: 67.9L shares

Pros
  • Company is almost debt-free.
  • Revenue grew 16% YoY.
  • Net profit is growing year over year.
  • Stock trades below its book value.
Cons
  • Stock trades at a high P/E of 86.
Quarterly Results
MetricSept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Revenue₹12 Cr₹12 Cr₹12 Cr₹8 Cr₹8 Cr₹9 Cr₹11 Cr₹7 Cr
EBITDA₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹-3 Cr₹0 Cr₹0 Cr₹1 Cr
Net Profit₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹-3 Cr₹0 Cr₹0 Cr₹1 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹25 Cr₹28 Cr₹24 Cr₹23 Cr₹29 Cr₹33 Cr₹37 Cr₹43 Cr
EBITDA₹2 Cr₹2 Cr₹-2 Cr₹1 Cr₹2 Cr₹1 Cr₹2 Cr₹1 Cr
Net Profit₹0 Cr₹1 Cr₹-2 Cr₹0 Cr₹1 Cr₹2 Cr₹0 Cr₹1 Cr
EPS1.140.71-2.660.020.10.160.030.05
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹35 Cr₹33 Cr₹31 Cr₹31 Cr₹35 Cr₹46 Cr₹59 Cr₹60 Cr
Total Liabilities₹21 Cr₹21 Cr₹20 Cr₹19 Cr₹21 Cr₹15 Cr₹26 Cr₹32 Cr
Equity₹14 Cr₹12 Cr₹11 Cr₹12 Cr₹13 Cr₹31 Cr₹32 Cr₹29 Cr
Total Debt———————₹20 Cr
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹2 Cr₹1 Cr₹-1 Cr₹-11 Cr₹-4 Cr₹35,95,000 Cr
Investing₹0 Cr₹-2 Cr₹-1 Cr₹-1 Cr₹-2 Cr₹-3 Cr
Financing₹-2 Cr₹0 Cr₹2 Cr₹12 Cr₹6 Cr₹3 Cr
Free Cash Flow₹2 Cr₹1 Cr₹-1 Cr₹-11 Cr₹-4 Cr₹-3 Cr
Shareholding
Promoter 35.51% Institutions 12.76% Public 51.73%
About Ganga Forging Limited

Industrials · Metal Fabrication

Ganga Forging Limited manufactures and sells steel forging parts and machine components for automotive and non-automotive sectors in India. It offers forged crankshafts, crankshaft single and double cylinders, straight and inclined connecting rods, forged and big yokes, trunnion-pins, spiders/crosses, forged trunnion shafts, forged flanges and clamps, and blind flanges, as well as socket clevises, anchor shackles, and dead-end pin electrical power transmission parts. The company also provides aluminum forging products. It serves clients in railways, construction equipment, agricultural machinery and equipment, earth moving and other industries. The company was incorporated in 1988 and is based in Rajkot, India.

www.gangaforging.com ↗
Efficiency & Working Capital
ROCE-6.4%
Interest Coverage1.5
Dividend Payout—
Debtor Days68 d
Inventory Days163 d
Payable Days54 d
Cash Conversion Cycle177 d
Working Capital Days231 d
Shareholding Details

As of 2026-07-31

Promoter35.5%
FII12.8%
DII0%
Institutions12.8%
Public51.7%
Promoter Pledge0%
No. of Shareholders48,367
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodFeb 2024Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Jul 2026
Promoters39%40.8%40.6%40.1%39.2%39.2%39.2%39.2%35.5%35.5%35.5%35.5%
FIIs0.1%0%0%0%3.7%3.7%2.6%2.2%0%0%0%12.8%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public60.9%59.1%59.4%59.9%57.1%57.1%58.2%58.6%64.5%64.5%64.5%51.7%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders48,01647,33546,32846,60047,98348,51248,96349,23749,81548,87048,27348,367
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Pine Oak Global FundPublic Shareholding12.8%4.30 Cr
Hiralal Mahidas TilvaShareholding of Promoter and Promoter Group10%3.37 Cr
Rakesh Chhaganlal PatelShareholding of Promoter and Promoter Group4.6%1.54 Cr
Harsh Manishbhai NarShareholding of Promoter and Promoter Group3.9%1.30 Cr
Hetal Mayurkumar KalariaShareholding of Promoter and Promoter Group2.8%93,33,325
Sheetal Sanjivkumar ChaniaraShareholding of Promoter and Promoter Group2.8%93,33,325
Shitalben Manishkumar NarShareholding of Promoter and Promoter Group2.6%86,75,350
Daxaben Hiralal TilvaShareholding of Promoter and Promoter Group2.1%69,30,537
Avni Nileshkumar DadhaniyaShareholding of Promoter and Promoter Group2%68,33,325
Parulben Rakeshbhai PatelShareholding of Promoter and Promoter Group2%65,64,240
Manishkumar Chhaganbhai NarShareholding of Promoter and Promoter Group1.9%64,69,600
Setu Securities Pvt LtdPublic Shareholding1.3%45,26,745
Sanjiv V VShareholding of Promoter and Promoter Group1%33,42,500
Prem Rakeshbhai PatelShareholding of Promoter and Promoter Group0%0
Board of Directors
NameDesignationYear
Hiralal M. TilvaChairman / Executive Director / Managing Director2025
Rakesh Chhaganlal PatelExecutive Director & MD2025
Sheetal Sanjivkumar ChaniaraE D & Wholetime Director2025
Parulben Rakeshbhai PatelE D & Wholetime Director2025
Jasubhai Khimjibhai PatelIndependent Non Exe. Director2025
Ramesh DhinganiIndependent Non Exe. Director2025
Sagarkumar GovaniIndependent Non Exe. Director2025
Nayankumar K. VirpariaIndependent Non Exe. Director2025
Drashti VaghasiyaCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Forging₹0 Cr—
Segments — Geography
RegionRevenueShare
Within India₹42 Cr95.3%
Outside India₹2 Cr4.7%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹1181313
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-18Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2025050006
2025000000
2025050005
Company Information
Incorporated1988
ChairmanHiralal M. Tilva
AuditorM N Manvar & Co
Investor Email[email protected]
🌐 www.gangaforging.com ↗

📍 Plot No 1 SNO 298 & 30, Rajkot Gondal N H Veraval(Shap, Ahmedabad, Gujarat, 360024

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