543391
Suyog Gurbaxani financials
- Market cap
- ₹226 Cr
- Sector
- Construction
What Suyog Gurbaxani does
Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) designs, constructs, and operates funicular ropeway (cable railway) systems that move visitors up steep, hilly terrain. Its flagship and currently sole operating asset is the Saptashrungi Gad Temple ropeway at Vani, Nashik, Maharashtra, built and run under a Build-Operate-Transfer (BOT) government concession awarded via a long-term public-private-partnership tender. Revenue is earned mainly from passenger ticketing, with tariffs pre-fixed and escalated per the tender terms, supplemented by ancillary onsite services such as accommodation, a shopping complex, parking, a food court and a kids' zone.
Segments
- Ropeway operations
- Ancillary onsite services
- Operating ropeway projects
- 1 (Saptashrungi Gad Temple, Vani, Nashik, Maharashtra)
- Years of operating experience
- 15 years (since 2010)
- Concession/tender tenure
- 30+ years (BOT/PPP model)
- Onsite ancillary service lines
- 6 (travel, stay, shopping, parking, food court, kids zone)
Quarterly results
Q4 FY26: revenue down 61.5%, net profit up 0.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 12 | 11 | 52 | 23 +283% | 30 +150% | 27 +145% | 20 −62% |
| EBITDA | 3 | 5 | 7 | 8 | 5 +67% | 12 +140% | 11 +57% | 12 +50% |
| Net profit | -1 | 1 | 3 | 5 | 0 +100% | 9 +800% | 6 +100% | 5 +0% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −31.0% 1Y
1Y: ₹123.2 on 10 Sept 2025 → ₹85.02. High ₹142 (19 Dec 2025), low ₹85.02 (11 Sept 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹20 Cr | ₹25 Cr | ₹25 Cr | ₹25 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹-13 Cr | ₹-15 Cr | ₹-15 Cr | ₹-9 Cr | ₹6 Cr | ₹11 Cr |
| Borrowings | ₹75 Cr | ₹68 Cr | ₹66 Cr | ₹87 Cr | ₹162 Cr | ₹10 Cr |
| Other liabilities | ₹4 Cr | ₹5 Cr | ₹4 Cr | ₹13 Cr | ₹35 Cr | ₹108 Cr |
| Total liabilities | ₹86 Cr | ₹82 Cr | ₹80 Cr | ₹116 Cr | ₹228 Cr | ₹154 Cr |
| Fixed assets | ₹80 Cr | ₹73 Cr | ₹67 Cr | ₹60 Cr | ₹50 Cr | ₹47 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹20 Cr |
| Other assets | ₹6 Cr | ₹9 Cr | ₹13 Cr | ₹56 Cr | ₹177 Cr | ₹86 Cr |
| Total assets | ₹86 Cr | ₹82 Cr | ₹80 Cr | ₹116 Cr | ₹228 Cr | ₹154 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 1% to 895.
- Promoters
- 63.3%
- Public
- 36.7%
Since Jun 2025
- Promoters −0.01 pp
- Public 0.00 pp
How it drifted, 12 quarters
Over this window promoters fell from 64.8% to 63.3% — −1.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 64.8%, Public 35.2%.Dec '23: Promoters 64.8%, Public 35.2%.Mar '24: Promoters 64.0%, Public 36.0%.Jun '24: Promoters 64.0%, Public 36.0%.Sep '24: Promoters 63.4%, Public 36.6%.Dec '24: Promoters 63.3%, Public 36.7%.Mar '25: Promoters 63.3%, Public 36.7%.Jun '25: Promoters 63.3%, Public 36.7%.Sep '25: Promoters 63.3%, Public 36.7%.Dec '25: Promoters 63.3%, Public 36.7%.Mar '26: Promoters 63.3%, Public 36.7%.Jun '26: Promoters 63.3%, Public 36.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Abhishek Singhvi newly disclosed 1.03% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Suyog Gurbaxani above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajkumar Dwarkadas Gurbaxani | 15.04% | unchanged |
| Omprakash Dwarkadas Gurbaxani | 14.37% | unchanged |
| Suyog Holdings Private Limited | 12.34% | unchanged |
| Gurushantappa Lature | 4.02% | unchanged |
| Subhashita Shivshankar Lature | 3.84% | unchanged |
| Suyash Shivshankar Lature | 3.74% | unchanged |
| Tejal Anil Diggikar | 2.35% | unchanged |
| Sarvatra Finance Private Limited | 2.00% | unchanged |
| Sakshi Vivek Lature | 1.61% | unchanged |
| Shivshankar Lature | 1.32% | unchanged |
| Rajshikhar Edifice Llp | 1.21% | unchanged |
| Sushil Kumar Agarwal | 1.15% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Suyog Gurbaxani
Guides on how to read this kind of business and the numbers that matter.