Minal Industries shareholders and shareholding pattern

NSE: MINALINDBSE: 522235Commercial Services & SuppliesSmall Cap

₹3.23₹0.17 (5.00%)BSE ₹3.26

Share price at the NSE close on 23 Oct 2026. Previous close ₹3.40.

52-week range of BSE trades to 23 Oct 2026

₹1.78Low, 27 Mar 2026₹6.00High, 9 Sep 2026

Delivery only: shares bought must be paid for in full, with no selling on the same day.

Market cap: ₹62 Cr3,462nd largest listed
P/E: 166.3
P/B: 1.2
Dividend yield: Nonein the last 12 months
ROE: 0.7%
ROCE: 0.0%
Debt to equity: 0.09
Volume, NSE: 8,637

Who owns Minal Industries, filing by filing

Per cent of the company's shares. The last ten years of filings, from Dec 2016; the latest is the filing for Sep 2026.

Sep 2026 filing

Promoters40.80%
Individuals and others59.20%

Shareholding pattern, per cent, from Sep 2022

Promoters
Individuals and others

Per cent	Dec 2016Filed 9 Feb	Mar 2017Filed 24 Apr	Jun 2017Filed 6 Jul	Sep 2017Filed 16 Oct	Dec 2017Filed 19 Jan	Mar 2018Filed 2 May	Jun 2018Filed 20 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 21 Jan	Mar 2019Filed 14 May	Jun 2019Filed 19 Jul	Sep 2019Filed 23 Oct	Dec 2019Filed 20 Jan	Mar 2020Filed 11 May	Jun 2020Filed 19 Oct	Sep 2020Filed 19 Oct	Dec 2020Filed 21 Jan	Mar 2021Filed 19 Apr	Jun 2021Filed 22 Nov	Sep 2021Filed 22 Nov	Dec 2021Filed 21 Jan	Mar 2022Filed 18 Apr	Jun 2022Filed 7 Jul	Sep 2022Filed 20 Oct	Dec 2022Filed 20 Jan	Mar 2023Filed 21 Apr	Jun 2023Filed 21 Jul	Sep 2023Filed 23 Jan	Dec 2023Filed 20 Jan	Mar 2024Filed 19 Apr	Jun 2024Filed 14 Aug	Sep 2024Filed 15 Oct	Dec 2024Filed 21 Jan	Mar 2025Filed 12 Apr	Jun 2025Filed 21 Jul	Sep 2025Filed 16 Oct	Dec 2025Filed 20 Jan	Mar 2026Filed 30 Apr	Jun 2026Filed 16 Jul	Sep 2026Filed 7 Oct
	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.74%	59.74%	59.74%	59.74%	59.42%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.78%	40.79%	40.80%
Indian promoters	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.66%	59.74%	59.74%	59.74%	59.74%	59.42%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.78%	40.79%	40.80%
	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.34%	40.26%	40.26%	40.26%	40.26%	40.58%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.22%	59.21%	59.20%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	40.34%	40.26%	40.26%	40.26%	40.26%	40.58%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.37%	59.22%	59.21%	59.20%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.14%	4.42%	4.41%	4.41%	4.59%	5.23%	5.45%	5.71%	6.53%	6.75%	6.93%	6.53%	6.55%	6.58%	6.68%	6.72%	6.70%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	24.51%	24.62%	24.62%	24.62%	24.60%	25.01%	43.59%	43.30%	42.36%	42.14%	32.87%	32.87%	32.86%	32.84%	32.67%	32.60%	32.60%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	11.18%	11.18%	11.19%	11.19%	11.03%	10.27%	10.26%	10.25%	10.36%	10.36%	10.32%	10.36%	10.35%	10.34%	10.28%	10.27%	10.28%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.03%	0.03%	0.03%	0.03%	0.04%	0.07%	0.07%	0.11%	0.13%	0.13%	0.13%	0.14%	0.14%	0.13%	0.13%	0.16%	0.16%
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.12%	9.12%	9.12%	9.12%	9.12%	9.12%	9.12%
Trusts linked to the promoter group	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.48%	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.36%	0.36%	0.36%	0.34%	0.34%	0.33%
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	–	Under 0.01%	Under 0.01%	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.48%	–	–	–	–	–	–	–	–	–	–	0.36%	0.36%	0.36%	0.34%	0.34%	0.33%
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Shares in issue	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,04,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650	19,19,00,650

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Minal Industries shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2016Filed 9 Feb	Mar 2017Filed 24 Apr	Jun 2017Filed 6 Jul	Sep 2017Filed 16 Oct	Dec 2017Filed 19 Jan	Mar 2018Filed 2 May	Jun 2018Filed 20 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 21 Jan	Mar 2019Filed 14 May	Jun 2019Filed 19 Jul	Sep 2019Filed 23 Oct	Dec 2019Filed 20 Jan	Mar 2020Filed 11 May	Jun 2020Filed 19 Oct	Sep 2020Filed 19 Oct	Dec 2020Filed 21 Jan	Mar 2021Filed 19 Apr	Jun 2021Filed 22 Nov	Sep 2021Filed 22 Nov	Dec 2021Filed 21 Jan	Mar 2022Filed 18 Apr	Jun 2022Filed 7 Jul	Sep 2022Filed 20 Oct	Dec 2022Filed 20 Jan	Mar 2023Filed 21 Apr	Jun 2023Filed 21 Jul	Sep 2023Filed 23 Jan	Dec 2023Filed 20 Jan	Mar 2024Filed 19 Apr	Jun 2024Filed 14 Aug	Sep 2024Filed 15 Oct	Dec 2024Filed 21 Jan	Mar 2025Filed 12 Apr	Jun 2025Filed 21 Jul	Sep 2025Filed 16 Oct	Dec 2025Filed 20 Jan	Mar 2026Filed 30 Apr	Jun 2026Filed 16 Jul	Sep 2026Filed 7 Oct
All shareholders	2,107	2,110	2,112	2,114	2,114	2,108	2,108	2,112	2,115	2,114	2,114	2,150	2,150	2,151	2,153	2,151	2,147	2,143	2,143	2,140	2,140	2,136	2,134	2,134	2,131	2,133	2,123	2,289	3,995	5,027	6,212	7,912	10,976	14,809	14,916	14,985	14,886	14,649	14,600	15,345
	6	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	6	6	6	6	5	5	5	5	5	5	5	5	5	5	5
Indian promoters	6	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	6	6	6	6	5	5	5	5	5	5	5	5	5	5	5
	2,101	2,105	2,107	2,109	2,109	2,103	2,103	2,107	2,110	2,109	2,109	2,145	2,145	2,146	2,148	2,146	2,142	2,138	2,138	2,135	2,135	2,131	2,129	2,129	2,126	2,127	2,117	2,283	3,989	5,022	6,207	7,907	10,971	14,804	14,911	14,980	14,881	14,644	14,595	15,340
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2,129	2,126	2,127	2,117	2,283	3,989	5,022	6,207	7,907	10,971	14,804	14,911	14,980	14,881	14,644	14,595	15,340
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,973	2,058	2,058	2,047	2,211	3,917	4,944	6,127	7,822	10,878	14,712	14,711	14,778	14,685	14,458	14,410	15,153
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	26	26	26	26	26	26	27	24	24	24	19	18	18	19	17	16	16
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	30	30	31	32	32	32	33	33	34	36	36	37	36	35	32	31	32
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	11	11	11	11	13	13	17	22	26	32	35	37	39	37	36	37	37
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1
Trusts linked to the promoter group	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	89	–	1	1	1	1	1	1	1	1	1	107	108	104	100	100	101
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	–	1	1	–	1	1	1	1	1	1	1	1	1	1	1	1
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	88	–	–	–	–	–	–	–	–	–	–	105	106	102	98	98	99
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1

Minal Industries promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is ANILA SHRIKANT PARIKH, 38.98%.Promoter buying and selling

Holder
ANILA SHRIKANT PARIKHIndividuals and Hindu undivided families	38.98%	7,48,05,590
SHRIKANT JESINGLAL PARIKHIndividuals and Hindu undivided families	1.41%	27,08,776
VIKRAM JESINGBHAI PARIKHIndividuals and Hindu undivided families	0.41%	7,78,685
SONA AKASH PARIKHIndividuals and Hindu undivided families	0.00%	4,000
AKASH VIKRAMBHAI PARIKHIndividuals and Hindu undivided families	0.00%	4,181

No promoter shares are reported as pledged.

Largest public holders of Minal Industries, filing by filing

Per cent, on the same shares as the split above.

Holder	Dec 2016Filed 9 Feb	Mar 2017Filed 24 Apr	Jun 2017Filed 6 Jul	Sep 2017Filed 16 Oct	Dec 2017Filed 19 Jan	Mar 2018Filed 2 May	Jun 2018Filed 20 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 21 Jan	Mar 2019Filed 14 May	Jun 2019Filed 19 Jul	Sep 2019Filed 23 Oct	Dec 2019Filed 20 Jan	Mar 2020Filed 11 May	Jun 2020Filed 19 Oct	Sep 2020Filed 19 Oct	Dec 2020Filed 21 Jan	Mar 2021Filed 19 Apr	Jun 2021Filed 22 Nov	Sep 2021Filed 22 Nov	Dec 2021Filed 21 Jan	Mar 2022Filed 18 Apr	Jun 2022Filed 7 Jul	Sep 2022Filed 20 Oct	Dec 2022Filed 20 Jan	Mar 2023Filed 21 Apr	Jun 2023Filed 21 Jul	Sep 2023Filed 23 Jan	Dec 2023Filed 20 Jan	Mar 2024Filed 19 Apr	Jun 2024Filed 14 Aug	Sep 2024Filed 15 Oct	Dec 2024Filed 21 Jan	Mar 2025Filed 12 Apr	Jun 2025Filed 21 Jul	Sep 2025Filed 16 Oct	Dec 2025Filed 20 Jan	Mar 2026Filed 30 Apr	Jun 2026Filed 16 Jul	Sep 2026Filed 7 Oct
CHAMPAK K. MEHTAResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	10.95%	10.95%	10.95%	10.95%	10.95%	10.95%
MAHENDRA CHANDULAL SHAHResident individuals, over ₹2 lakh at face value	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	–	–	10.94%	10.94%	–	–	10.94%	10.94%	10.94%	10.94%	10.94%	–	–	–	–	–	–	–	–	–	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%
ANANT AJAY MEHTAResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.38%	9.38%	9.12%	9.20%	9.20%	9.20%	9.20%	9.20%	9.20%	9.20%	9.20%
DIVYANSHU NAVLAKHADirectors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.38%	9.38%	9.20%	9.12%	9.12%	9.12%	9.12%	9.12%	9.12%	9.12%	9.12%
AANISHKA CONSTRUCTION PVT LTDCompanies	5.12%	5.12%	5.12%	5.12%	5.12%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5.12%	5.12%	5.12%	5.12%	5.12%	5.12%
AANYORA CONSTRUCTION PVT LTDCompanies	4.68%	4.68%	4.68%	4.68%	4.68%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.68%	4.68%	4.68%	4.68%	4.68%	4.68%
CHAMPAK KIRTILAL MEHTAResident individuals, over ₹2 lakh at face value	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	–	–	10.94%	10.94%	–	–	10.94%	10.94%	10.94%	10.94%	10.94%	–	–	–	–	–	–	–	–	–	10.94%	10.94%	10.94%	10.94%	10.94%	10.94%	–	–	–	–	–	–
Individual Shareholders Having NominalResident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	3.99%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.