About Gemstone
Gemstone is a publicly listed company based in Mumbai (India) founded in 1994. Investment portfolios are managed by Gemstone as a firm. Its Indian entity Gemstone Investments Limited reported revenue of ₹2.23 Cr. Its focus areas include Asset Management and Diversified. Similar companies include UTI Mutual Fund, 360 One and Avendus; 2 of its 3 listed similar companies have raised funding.
Company details
Gemstone was established in 1994 as an investment management firm based in Mumbai, India. Operations focus on handling investment portfolios for clients in the financial sector. Services encompass asset allocation, risk assessment, and portfolio oversight. The firm operates primarily within the Indian market, with key leadership provided by a managing director. Domain presence is maintained at gemstoneltd.com for client interactions.
- Headquarters Mumbai, India
- Stage Public
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website gemstoneltd.com
- Legal Name Gemstone Investments Limited
- Market Cap₹58.54 Cr
GEMSI · BSE
- Share Price₹1.23
-1.60% today
- Revenue₹2.23 Cr
FY 2025-26 · +78.4% YoY
- EBITDA₹0.75 Cr
Margin 33.6%
- Net Profit₹0.40 Cr
FY 2025-26 · +29.0% YoY
- P/E (TTM)50.2x
P/B 0.5x
- ROE1.1%
ROCE 1.9%
- Debt / Equity0.05
Interest cover 10.8x
Associated legal entities of Gemstone
Gemstone operates through Gemstone Investments Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Gemstone Investments Limited Listed CIN L65990MH1994PLC081749 | Active | 05 Oct 1994 | Mumbai, Maharashtra | ₹2.2 Cr | 3 | 10 | View details |
Board of directors of Gemstone Investments Limited (Gemstone)
Gemstone Investments Limited is the primary company behind Gemstone. The board of Gemstone Investments Limited currently have 8 directors; the longest-serving is Falgun Chhaganlal Shah, appointed in 2021. 26 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Falgun Chhaganlal Shah DIN 09140924 | Director | 12 Apr 2021 | 5 yrs 7 mo | Gemstone Investments Limited |
| Rajesh Babulal Maiyani DIN 09165604 | Director | 07 May 2021 | 5 yrs 6 mo | Gemstone Investments Limited |
| Sudhakar Bhagawatlal Gandhi DIN 09210342 | Managing Director | 06 Jul 2023 | 3 yrs 4 mo | Gemstone Investments Limited |
| Roshan Prakash Mayani DIN 09421510 | Director | 04 Sep 2023 | 3 yrs 2 mo | Gemstone Investments Limited |
| Santosh Kumar Dwivedi DIN 10617830 | Director | 08 May 2024 | 2 yrs 6 mo | Gemstone Investments Limited |
| Kishor Chatrabhuj Bodha DIN 10830288 | Director | 31 Jan 2025 | 1 yr 9 mo | Gemstone Investments Limited |
| Dhara Chandulal Shiroya DIN 11068242 | Director | 24 Apr 2025 | 1 yr 6 mo | Gemstone Investments Limited |
| Jiten Talakchand Shah DIN 03147534 | Additional Director | 20 May 2026 | 5 mo | Gemstone Investments Limited |
People of Gemstone
1 people are tracked at Gemstone (1 in leadership).
| Name | Role | Group |
|---|---|---|
| Managing Director | Leadership |
Complete people profiles for Gemstone
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Gemstone
Gemstone is a publicly listed company on the BSE with ticker symbol GEMSI in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date10 Sep 1995
- Listed onBSE: 531137
- Listed entityGemstone Investments Limited
- Exchange sectorFinance
- ISININE503D01027
- Share price₹1.30 (+1.56% on the day) · 2026-10-14
- Market capitalisation₹9.6 Cr
- Price to earnings22.6
- EPS (diluted, trailing year)₹0.06
- Volume (last session)64,250
Financials of Gemstone
Exchange-reported figures of Gemstone Investments Limited, the listed company behind Gemstone (BSE: GEMSI).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2.23 | 1.25 | 2.11 | 1.19 | 0.91 | 2.03 | 2.01 |
| Revenue growth | +78.4% | -40.8% | +77.3% | +30.8% | -55.2% | +1.0% | - |
| EBITDA | 0.75 | 0.46 | 0.50 | 0.29 | 0.39 | 0.58 | 1.10 |
| EBITDA margin | +33.6% | +36.8% | +23.7% | +24.4% | +42.9% | +28.6% | +54.7% |
| Profit before tax | 0.66 | 0.45 | 0.49 | 0.28 | 0.28 | 0.52 | 0.98 |
| Net profit | 0.40 | 0.31 | 0.36 | 0.24 | 0.21 | 0.38 | 0.73 |
| Net profit margin | +17.9% | +24.8% | +17.1% | +20.2% | +23.1% | +18.7% | +36.3% |
| EPS (₹) | 0.05 | 0.04 | 0.05 | 0.03 | 0.03 | 0.05 | 0.10 |
| Balance sheet | |||||||
| Total assets | 53.28 | 24.72 | 24.40 | 24.05 | 23.82 | 23.65 | 23.32 |
| Net worth | 49.73 | 24.73 | 24.41 | 24.06 | 23.83 | 23.62 | 23.23 |
| Total debt | 3.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.10 |
| Cash & bank | 0.17 | 1.23 | 1.66 | 0.23 | 0.32 | 0.93 | 0.25 |
| Net working capital | 48.80 | 22.19 | 24.38 | 24.03 | 23.81 | 23.43 | 21.97 |
| Cash flow | |||||||
| Cash from operations | (27.18) | (0.42) | 1.45 | (0.09) | (0.67) | 0.74 | 0.83 |
| Cash from investing | (1.95) | (0.01) | 0.00 | 0.00 | 0.17 | 0.02 | 0.30 |
| Cash from financing | 28.08 | (0.01) | (0.01) | 0.00 | (0.11) | (0.07) | (1.11) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.72 | 0.92 | 0.58 | 0.38 | 0.36 | 0.35 | 0.02 | 0.32 |
| Revenue growth (YoY) | +377.8% | +162.9% | +2800.0% | +18.8% | -34.6% | - | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 0.48 | 0.32 | 0.80 | 0.17 | 0.20 | 0.22 | 0.13 | 0.30 |
| EBITDA | 1.24 | 0.60 | (0.22) | 0.21 | 0.16 | 0.13 | (0.11) | 0.02 |
| EBITDA margin | +72.1% | +65.2% | -37.9% | +55.3% | +44.4% | +37.1% | -550.0% | +6.3% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.06 | 0.06 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1.18 | 0.54 | (0.24) | 0.21 | 0.16 | 0.13 | (0.11) | 0.02 |
| Tax | 0.30 | 0.15 | 0.03 | 0.05 | 0.04 | 0.03 | 0.00 | 0.00 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.72 | 0.92 | 0.58 | 0.38 | 0.36 | 0.35 | 0.02 | 0.32 |
| Revenue growth (YoY) | +377.8% | +162.9% | +2800.0% | +18.8% | -34.6% | - | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 0.48 | 0.32 | 0.80 | 0.17 | 0.20 | 0.22 | 0.13 | 0.30 |
| EBITDA | 1.24 | 0.60 | (0.22) | 0.21 | 0.16 | 0.13 | (0.11) | 0.02 |
| EBITDA margin | +72.1% | +65.2% | -37.9% | +55.3% | +44.4% | +37.1% | -550.0% | +6.3% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.06 | 0.06 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1.18 | 0.54 | (0.24) | 0.21 | 0.16 | 0.13 | (0.11) | 0.02 |
| Tax | 0.30 | 0.15 | 0.03 | 0.05 | 0.04 | 0.03 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.23 | 1.25 | 2.11 | 1.19 | 0.91 | 2.03 | 2.01 |
| Revenue growth | +78.4% | -40.8% | +77.3% | +30.8% | -55.2% | +1.0% | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
| Total expenses | 1.48 | 0.79 | 1.61 | 0.90 | 0.52 | 1.45 | 0.91 |
| Employee cost | 0.24 | 0.18 | 0.05 | 0.03 | 0.04 | 0.12 | 0.23 |
| EBITDA | 0.75 | 0.46 | 0.50 | 0.29 | 0.39 | 0.58 | 1.10 |
| EBITDA margin | +33.6% | +36.8% | +23.7% | +24.4% | +42.9% | +28.6% | +54.7% |
| Depreciation | 0.01 | 0.00 | 0.00 | 0.01 | 0.04 | 0.06 | 0.06 |
| Interest | 0.08 | 0.01 | 0.01 | 0.00 | 0.08 | 0.01 | 0.06 |
| Profit before tax | 0.66 | 0.45 | 0.49 | 0.28 | 0.28 | 0.52 | 0.98 |
| Tax | 0.26 | 0.14 | 0.13 | 0.04 | 0.07 | 0.14 | 0.25 |
| Net profit | 0.40 | 0.31 | 0.36 | 0.24 | 0.21 | 0.38 | 0.73 |
| Net profit margin | +17.9% | +24.8% | +17.1% | +20.2% | +23.1% | +18.7% | +36.3% |
| EPS (₹) | 0.05 | 0.04 | 0.05 | 0.03 | 0.03 | 0.05 | 0.10 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 7.48 | 7.48 | 7.48 | 7.48 | 7.48 | 7.48 | 7.48 |
| Reserves & surplus | 17.65 | 17.25 | 16.93 | 16.58 | 16.35 | 16.14 | 15.75 |
| Shareholders' funds (net worth) | 49.73 | 24.73 | 24.41 | 24.06 | 23.83 | 23.62 | 23.23 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.10 |
| Unsecured loans | 3.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 3.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.10 |
| Total liabilities | 53.28 | 24.72 | 24.40 | 24.05 | 23.82 | 23.65 | 23.32 |
| Assets | |||||||
| Gross block | 0.15 | 0.12 | 0.12 | 0.11 | 0.11 | 0.51 | 0.60 |
| Net block | 0.03 | 0.01 | 0.02 | 0.01 | 0.02 | 0.23 | 0.29 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank balances | 0.17 | 1.23 | 1.66 | 0.23 | 0.32 | 0.93 | 0.25 |
| Loans & advances | 48.76 | 21.29 | 22.83 | 23.92 | 23.63 | 22.64 | 22.79 |
| Total current assets | 48.93 | 22.52 | 24.49 | 24.15 | 23.95 | 23.57 | 23.04 |
| Total current liabilities | 0.13 | 0.33 | 0.11 | 0.12 | 0.14 | 0.14 | 1.07 |
| Net working capital | 48.80 | 22.19 | 24.38 | 24.03 | 23.81 | 23.43 | 21.97 |
| Total assets | 53.28 | 24.72 | 24.40 | 24.05 | 23.82 | 23.65 | 23.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.23 | 1.66 | 0.23 | 0.32 | 0.93 | 0.25 | 0.22 |
| Net cash from operating activities | (27.18) | (0.42) | 1.45 | (0.09) | (0.67) | 0.74 | 0.83 |
| Net cash from investing activities | (1.95) | (0.01) | 0.00 | 0.00 | 0.17 | 0.02 | 0.30 |
| Net cash from financing activities | 28.08 | (0.01) | (0.01) | 0.00 | (0.11) | (0.07) | (1.11) |
| Net change in cash | (1.05) | (0.44) | 1.44 | (0.09) | (0.61) | 0.68 | 0.02 |
| Closing cash | 0.17 | 1.23 | 1.66 | 0.23 | 0.32 | 0.93 | 0.25 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +78.4% | -40.8% | +77.3% | +30.8% | -55.2% | +1.0% | - |
| EBITDA growth | +63.0% | -8.0% | +72.4% | -25.6% | -32.8% | -47.3% | - |
| PBT growth | +46.7% | -8.2% | +75.0% | 0.0% | -46.2% | -46.9% | -12.5% |
| Net income growth | +29.0% | -13.9% | +50.0% | +14.3% | -44.7% | -48.0% | - |
| Revenue CAGR (3Y) | +23.3% | +11.2% | +1.3% | -16.0% | -26.9% | +1.5% | -1.1% |
| EBITDA CAGR (3Y) | +37.3% | +5.7% | -4.8% | -35.9% | -34.8% | -11.3% | +5.0% |
| Profitability & leverage | |||||||
| Net income margin | +17.9% | +24.8% | +17.1% | +20.2% | +23.1% | +18.7% | +36.3% |
| Return on capital employed | +1.9% | +1.9% | +2.0% | +1.1% | +1.5% | +2.3% | +4.3% |
| Return on net worth | +1.1% | +1.3% | +1.4% | +1.0% | +0.9% | +1.7% | +3.1% |
| Debt / equity | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Interest cover | 10.81 | 2.17 | 2.00 | 0.00 | 22.86 | 1.92 | 5.77 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 16.52 | 10.42 | 18.35 | 10.82 | 2.97 | 3.68 | 3.35 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS (₹) | 0.05 | 0.04 | 0.05 | 0.03 | 0.03 | 0.05 | 0.10 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 3.36 | 3.31 | 3.26 | 3.22 | 3.19 | 3.16 | 3.11 |
Similar companies to Gemstone
Gemstone has 3 listed similar companies in our database, 2 of them funded. They include UTI Mutual Fund, 360 One and Avendus.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| utimf.com | 2001 | Mumbai, India | $142.4M | 1,468 | Mutual funds, portfolio management, and retirement planning services are offered. | |
| 360.one | 2008 | Mumbai, India | 65 | Asset and wealth management software is provided for businesses. | ||
| avendus.com | 1999 | Mumbai, India | $178.11M | 215 | Corporate advisory and investment services are provided to clients. |
Detailed similar companies of Gemstone
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Top companies in Asset Management
3 companies that operate in the same segment as Gemstone (Asset Management) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provides mutual funds management and financial advisory services. | 1987 | Mumbai, Maharashtra, India | ||||
Mutual funds, portfolio management, and retirement planning services are offered. | 2001 | Mumbai, Maharashtra, India | USD 142.4 M | USD 180.76 M | 1,840 | |
Online platform for stock trading, mutual funds, and investment tools. | 1994 | Mumbai, Maharashtra, India |
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Frequently Asked Questions about Gemstone
Gemstone was founded in 1994.
Gemstone is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
The primary company behind Gemstone, Gemstone Investments Limited, reported revenue of ₹2.23 Cr for FY 2026, up 78% year on year.
Gemstone was established in 1994 as an investment management firm based in Mumbai, India. Operations focus on handling investment portfolios for clients in the financial sector. Services encompass asset allocation, risk assessment, and portfolio oversight. The firm operates primarily within the Indian market, with key leadership provided by a managing director. Domain presence is maintained at gemstoneltd.com for client interactions.
Gemstone's top competitors include UTI Mutual Fund, Avendus and 360 One.
Yes, Gemstone is publicly traded on BSE under the ticker symbol GEMSI.
Gemstone operates through Gemstone Investments Limited.
The legal entities of Gemstone currently have 10 directors, including Falgun Chhaganlal Shah, Rajesh Babulal Maiyani, Jayesh Ratan Ahire and others.