₹70.4
▲ +0.35 +0.50%
18 Jul 2026
NSE Listed · Castings, Forgings & Fastners
ESM 1Munish Forge Limited (MUNISH)
Volume: 61,200Avg Vol 1W: 1,47,120Avg Vol 1M: 99,76452W Range:₹50.2₹143
Key Ratios
Checked just nowMarket Cap₹169 Cr
Current Price₹70.4
Previous Close₹70.05
High / Low (52w)₹143 / ₹50.2
Volume61,200
Avg Vol (1W)1,47,120
Avg Vol (1M)99,764
Stock P/E31.86
Book Value₹47.15
Dividend Yield0%
ROE8.31%
ROA—
Revenue (TTM)—
Revenue Growth9.73%
Profit Margin0%
Total Debt₹11 Cr
Shares Outstanding2 Cr
Face Value—
EPS (TTM)₹0
P/B1.49
Debt / Equity1
50 DMA₹67.71
200 DMA—
Day change+0.50%
SurveillanceESM 1 (as of 2026-07-18)
Price Chart
₹70.4▼ 36.15% · 1Y
2025-10-082026-07-17
20-day avg volume: 1.1L shares
Pros
- Company is almost debt-free.
- Revenue grew 11% YoY.
- Net profit is growing year over year.
Profit & Loss (Annual)
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Revenue | ₹80 Cr | ₹125 Cr | ₹161 Cr | ₹162 Cr | ₹179 Cr |
| EBITDA | ₹4 Cr | ₹6 Cr | ₹7 Cr | ₹10 Cr | ₹24 Cr |
| Net Profit | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹4 Cr | ₹14 Cr |
| EPS | 1.72 | 0.87 | 1.2 | 2.68 | 8.7 |
Balance Sheet
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Total Assets | ₹113 Cr | ₹121 Cr | ₹107 Cr | ₹113 Cr | ₹162 Cr |
| Total Liabilities | ₹77 Cr | ₹87 Cr | ₹71 Cr | ₹73 Cr | ₹94 Cr |
| Equity | ₹36 Cr | ₹34 Cr | ₹36 Cr | ₹41 Cr | ₹67 Cr |
| Total Debt | ₹17 Cr | ₹12 Cr | ₹13 Cr | — | — |
Cash Flow
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Operating | ₹-2 Cr | ₹6 Cr | ₹21 Cr | ₹6 Cr | ₹10 Cr |
| Investing | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹-5 Cr | ₹-10 Cr |
| Financing | ₹3 Cr | ₹-5 Cr | ₹-14 Cr | ₹-8 Cr | ₹8 Cr |
| Free Cash Flow | ₹-2 Cr | ₹6 Cr | ₹21 Cr | ₹6 Cr | ₹10 Cr |
Shareholding
Promoter 68.01% Institutions 5.53% Public 26.46%
Efficiency & Working Capital
ROCE10.2%
Interest Coverage5
Dividend Payout—
Debtor Days53 d
Inventory Days125 d
Payable Days32 d
Cash Conversion Cycle146 d
Working Capital Days178 d
Shareholding Details
As of 2026-03-31
Promoter68%
FII1.9%
DII3.6%
Institutions5.5%
Public26.5%
Promoter Pledge0%
No. of Shareholders527
Shareholding Pattern
Quarterly — figures in %. Latest 6 quarters.
| Period | May 2025 | May 2025 | Sept 2025 | Oct 2025 | Oct 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 100% | 100% | 100% | 68% | 68% | 68% |
| FIIs | 0% | 0% | 0% | 5.1% | 5.1% | 1.9% |
| DIIs | 0% | 0% | 0% | 9.2% | 9.2% | 3.6% |
| Public | 0% | 0% | 0% | 17.7% | 17.7% | 26.5% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 8 | 8 | 8 | 1,396 | 1,396 | 527 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202403 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Davinder Bhasin | Shareholding of Promoter and Promoter Group | 45.9% | 1.10 Cr |
| Munish Promoters And Developers Private Limited | Shareholding of Promoter and Promoter Group | 8.2% | 19,83,305 |
| Dev Arjuna Enterprises Private Limited | Shareholding of Promoter and Promoter Group | 5.5% | 13,32,000 |
| Minakshi Bhasin | Shareholding of Promoter and Promoter Group | 4.4% | 10,61,225 |
| Dev Arjun Bhasin | Shareholding of Promoter and Promoter Group | 4% | 9,52,000 |
| Nnm Securities | Public Shareholding | 3.4% | 8,06,400 |
| Rgsl Investment Fund-rgsl Investment Lvf 1 | Public Shareholding | 3% | 7,14,000 |
| Nnm Nextgen Advisory Private Limited | Public Shareholding | 2.6% | 6,15,600 |
| Gretex Share Broking Limited | Public Shareholding | 2.2% | 5,31,600 |
| Shreya Yadav | Public Shareholding | 1.6% | 3,90,000 |
| Saint Capital Fund | Public Shareholding | 1.4% | 3,45,600 |
| Vishesh Kumar | Shareholding of Promoter and Promoter Group | 0% | 1 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Davinder Bhasin | 0 | 0% | 2026-03-31 |
| Minakshi Bhasin | 0 | 0% | 2026-03-31 |
| Dev Arjun Bhasin | 0 | 0% | 2026-03-31 |
| Vishesh Kumar | 0 | 0% | 2026-03-31 |
| Dev Arjuna Enterprises Private Limited | 0 | 0% | 2026-03-31 |
| Munish Promoters And Developers Private Limited | 0 | 0% | 2026-03-31 |
| Rgsl Investment Fund-rgsl Investment Lvf 1 | 0 | 0% | 2026-03-31 |
| Saint Capital Fund | 0 | 0% | 2026-03-31 |
| Shreya Yadav | 0 | 0% | 2026-03-31 |
| Nnm Securities | 0 | 0% | 2026-03-31 |
| Nnm Nextgen Advisory Private Limited | 0 | 0% | 2026-03-31 |
| Gretex Share Broking Limited | 0 | 0% | 2026-03-31 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| Davinder K Bhasin | ED / MD / Promoter | 2025 |
| Dev Arjun Bhasin | Executive Director & CEO | 2025 |
| VISHAL ANAND | Executive Director | 2025 |
| Priya Begana | Independent Non Exe. Director | 2025 |
| Arshdeep Singh Bedi | Independent Non Exe. Director | 2025 |
| Khushvinder Bir Singh | Independent Non Exe. Director | 2025 |
| Sukhdeep Kaur | Company Sec. & Compli. Officer | 2025 |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2024 | ₹100 | 11 | 10 | 10 |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 0 | 0 | 0 | 15 | 96 | 113 |
| 2025 | 0 | 0 | 0 | 15 | 59 | 74 |
| 2025 | 0 | 0 | 0 | 1 | 8 | 9 |
Company Information
🌐 www.munishforge.com ↗
📍 Village Gobindgarh Adjoining-, Phase VII Focal Point, Ludhiana, Punjab, 141010
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