TipHub

₹1.36

▲ +0.01 +0.74%

As of 28 Jul 2026 · delayed

BSE Listed

GSM · GSM 0
What does GSM · GSM 0 mean?
BSE · Graded Surveillance Measure (GSM 0)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).

Karnavati Finance Limited (538928)

Volume: 27,863Avg Vol 1W: 20,358Avg Vol 1M: 40,66352W Range:₹1.08₹2.24
BSE www.karnavatifinancelimited.com AI Report
Key Ratios
Checked 7h ago
Market Cap₹14 Cr
Current Price₹1.36
Previous Close₹1.35
High / Low (52w)₹2.24 / ₹1.08
Volume27,863
Avg Vol (1W)20,358
Avg Vol (1M)40,663
Stock P/E—
Book Value₹0.43
Dividend Yield0%
ROE-136.39%
ROA-9.03%
Revenue (TTM)—
Revenue Growth—
Profit Margin-103.51%
Total Debt—
Shares Outstanding10 Cr
Face Value—
EPS (TTM)₹0
P/B3.13
Debt / Equity1.2
50 DMA₹1.37
200 DMA₹1.42
Day change+0.74%
SurveillanceGSM · GSM 0
Price Chart
₹1.36▼ 32.34% · 1Y
₹2₹111.1L
2025-07-29
2026-07-28

20-day avg volume: 18K shares

Pros
  • Company is almost debt-free.
Cons
  • Revenue fell 48% YoY.
  • Company is loss-making at the latest annual result.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue————————
EBITDA————————
Net Profit₹0 Cr₹-1 Cr₹0 Cr₹-1 Cr₹0 Cr₹0 Cr₹1 Cr₹-6 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹2 Cr₹3 Cr₹3 Cr₹1 Cr₹2 Cr₹3 Cr₹3 Cr₹2 Cr
EBITDA₹1 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹-2 Cr₹-2 Cr
Net Profit₹1 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹-2 Cr₹-2 Cr
EPS0.620.720.110.1200.56-0.17-0.17
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹27 Cr₹29 Cr₹24 Cr₹19 Cr₹14 Cr₹27 Cr₹29 Cr₹22 Cr
Total Liabilities₹15 Cr₹17 Cr₹12 Cr₹6 Cr₹1 Cr₹14 Cr₹17 Cr₹11 Cr
Equity₹12 Cr₹12 Cr₹13 Cr₹13 Cr₹13 Cr₹14 Cr₹12 Cr₹10 Cr
Total Debt————————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹6 Cr₹4 Cr₹-9 Cr₹-3 Cr₹5 Cr
Investing₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Financing₹-6 Cr₹-4 Cr₹11 Cr₹1 Cr₹-6 Cr
Free Cash Flow₹6 Cr₹4 Cr₹-9 Cr₹-3 Cr₹5 Cr
Shareholding
Promoter 62.06% Institutions 0% Public 37.94%
Efficiency & Working Capital
ROCE-2.9%
Interest Coverage-0.4
Dividend Payout—
Debtor Days0 d
Inventory Days0 d
Payable Days40 d
Cash Conversion Cycle-40 d
Working Capital Days0 d
Shareholding Details

As of 2026-06-30

Promoter62.1%
FII0%
DII0%
Institutions0%
Public37.9%
Promoter Pledge0%
No. of Shareholders9,701
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Promoters58.6%58.6%58.6%58.6%58.6%58.6%58.6%58.6%58.6%0%62.1%62.1%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%0%0%0%0%
Public41.4%41.4%41.4%41.4%41.4%41.4%41.4%41.4%41.4%100%37.9%37.9%
Promoter Pledge0%0%0%0%0%0%0%0%0%—0%0%
No. of Shareholders6,0496,7037,4627,9458,8949,3659,4529,3099,84410,2439,8009,701
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Raman P MorzariaShareholding of Promoter and Promoter Group31%3.11 Cr
Kush Ramanbhai MorzariaShareholding of Promoter and Promoter Group16.4%1.65 Cr
Morzaria Jay RShareholding of Promoter and Promoter Group11.5%1.16 Cr
Theeta Trading LlpPublic Shareholding3.7%37,51,280
Daxaben R MorzariaShareholding of Promoter and Promoter Group2.9%29,40,000
Sanjaykumar Jivanbhai BhatiyaPublic Shareholding2.7%27,43,595
Madhusudan Masala LimitedPublic Shareholding2.4%24,05,843
Dilipbhai BhagatPublic Shareholding1.5%15,00,000
Nitaben B MandaliaPublic Shareholding1.1%11,18,750
Bhavesh U MandaliaPublic Shareholding1.1%11,04,000
Midas Impex Private LimitedShareholding of Promoter and Promoter Group0.2%2,39,000
Board of Directors
NameDesignationYear
Ashish Nandkishor BataviaChairman & Non Executive Dir.2025
Jay R MorzariaED / MD / Promoter2025
Raman P MorzariaWTD & Executive Director2025
Vineshkumar Popatlal MakadiaNon-Exec & Non-Independent Dir2025
Brimda BilimoriaIndependent Non Exe. Director2025
Parth Maniar.Independent Non Exe. Director2025
Akanksha RaiCompany Sec. & Compli. Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹10101010
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202500022022
202500022022
2025000000
Substantial Acquisitions (SAST)

4 disclosure(s)

Off Market / Inter se transfer03/02/2025 · 67,62,780
Off Market / Inter se transfer03/02/2025 · 67,62,780
Off Market Transfer03/02/2025 · 67,62,780
Off Market / Inter se transfer03/02/2025 · 67,62,780
Company Information
Incorporated1984
ChairmanAshish Nandkishor Batavia
AuditorB B Gusani & Associates
Investor Email[email protected]
🌐 www.karnavatifinancelimited.com ↗

📍 705 Palm Spring Centre, Link Road Malad (West), Mumbai, Maharashtra, 400064

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