TipHub

₹81

▲ +3.3 +4.25%

As of 29 Jul 2026 · delayed

NSE Listed · Castings, Forgings & Fastners

ESM · ESM 1
What does ESM · ESM 1 mean?
NSE · Enhanced Surveillance Measure (ESM 1)ESM is the micro/small-cap ramp brake: it fires when a sub-₹1000cr stock's price variation is extreme versus its peer universe, or it's loss-making with a stretched valuation. Practical meaning: intraday speculation is shut off (Trade-for-Trade — every purchase must be taken to delivery), margins go to 100%, and at Stage II price discovery moves to periodic call auctions inside a 2% band.Criteria: Micro / small-cap companies (main-board market-cap below ₹500 cr) shortlisted on objective price parameters — high-low price variation, close-to-close price variation and standard deviation. Stage I = 100% margin + a ≤5% price band + Trade-for-Trade; Stage II = a 2% price band + periodic call auction.Exchange notice · 2026-07-14

Munish Forge Limited (MUNISH)

Volume: 7,200Avg Vol 1W: 12,240Avg Vol 1M: 54,49152W Range:₹50.2₹143
NSE BSE www.munishforge.com AI Report
Key Ratios
Checked 4h ago
Market Cap—
Current Price₹81
Previous Close₹77.7
High / Low (52w)₹143 / ₹50.2
Volume7,200
Avg Vol (1W)12,240
Avg Vol (1M)54,491
Stock P/E36.65
Book Value₹38.02
Dividend Yield—
ROE—
ROA—
Revenue (TTM)—
Revenue Growth9.73%
Profit Margin—
Total Debt₹11 Cr
Shares Outstanding—
Face Value—
EPS (TTM)₹2.21
P/B2.13
Debt / Equity—
50 DMA₹68.23
200 DMA—
Day change+4.25%
SurveillanceESM · ESM 1
Price Chart
₹81▼ 26.53% · 1Y
₹137₹5433.9L
2025-10-08
2026-07-29

20-day avg volume: 54K shares

Pros
  • Revenue grew 11% YoY.
  • Net profit is growing year over year.
Profit & Loss (Annual)
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 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
EPS1.720.871.22.688.7
Balance Sheet
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 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
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 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.

PeriodMay 2025May 2025Sept 2025Oct 2025Oct 2025Mar 2026
Promoters100%100%100%68%68%68%
FIIs0%0%0%5.1%5.1%1.9%
DIIs0%0%0%9.2%9.2%3.6%
Public0%0%0%17.7%17.7%26.5%
Promoter Pledge0%0%0%0%0%0%
No. of Shareholders8881,3961,396527
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202403————
Major Shareholders (>1%)
NameCategoryStakeShares
Davinder BhasinShareholding of Promoter and Promoter Group45.9%1.10 Cr
Munish Promoters And Developers Private LimitedShareholding of Promoter and Promoter Group8.2%19,83,305
Dev Arjuna Enterprises Private LimitedShareholding of Promoter and Promoter Group5.5%13,32,000
Minakshi BhasinShareholding of Promoter and Promoter Group4.4%10,61,225
Dev Arjun BhasinShareholding of Promoter and Promoter Group4%9,52,000
Nnm SecuritiesPublic Shareholding3.4%8,06,400
Rgsl Investment Fund-rgsl Investment Lvf 1Public Shareholding3%7,14,000
Nnm Nextgen Advisory Private LimitedPublic Shareholding2.6%6,15,600
Gretex Share Broking LimitedPublic Shareholding2.2%5,31,600
Shreya YadavPublic Shareholding1.6%3,90,000
Saint Capital FundPublic Shareholding1.4%3,45,600
Vishesh KumarShareholding of Promoter and Promoter Group0%1
Board of Directors
NameDesignationYear
Davinder K BhasinED / MD / Promoter2025
Dev Arjun BhasinExecutive Director & CEO2025
VISHAL ANANDExecutive Director2025
Priya BeganaIndependent Non Exe. Director2025
Arshdeep Singh BediIndependent Non Exe. Director2025
Khushvinder Bir SinghIndependent Non Exe. Director2025
Sukhdeep KaurCompany Sec. & Compli. Officer2025
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2024₹100111010
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
20250001596113
2025000155974
2025000189
Company Information
Incorporated1986
AuditorVinay & Associates
Investor Email[email protected]
🌐 www.munishforge.com ↗

📍 Village Gobindgarh Adjoining-, Phase VII Focal Point, Ludhiana, Punjab, 141010

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