Saffron Industries shareholders and shareholding pattern

BSE: 531436Paper, Forest & Jute ProductsSmall Cap

₹24.46₹1.46 (6.35%)

Share price at the BSE close on 23 Oct 2026. Previous close ₹23.00.

52-week range of traded prices to 23 Oct 2026

₹22.00Low, 6 Oct 2026₹104.13High, 7 Nov 2025

Market cap: ₹18 Cr4,094th largest listed
P/E: Earlier quarters restated in the year
P/B: Net worth zero or below
Dividend yield: Nonein the last 12 months
ROE: Net worth zero or below
Debt to equity: Net worth zero or below
Volume, BSE: 396

Who owns Saffron 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

Promoters60.53%
Indian institutions0.11%
Individuals and others39.37%

Shareholding pattern, per cent, from Dec 2022

Promoters
Indian institutions
Individuals and others

Per cent	Dec 2016Filed 24 Jan	Mar 2017Filed 17 Apr	Jun 2017Filed 17 Jul	Sep 2017Filed 23 May	Dec 2017Filed 8 Apr	Mar 2018Filed 9 May	Jun 2018Filed 5 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 14 Jan	Mar 2019Filed 25 Apr	Jun 2019Filed 18 Jul	Sep 2019Filed 25 Oct	Dec 2019Filed 6 Jan	Mar 2020Filed 11 Apr	Jun 2020Filed 10 Jul	Sep 2020Filed 9 Oct	Dec 2020Filed 14 Jan	Mar 2021Filed 7 Apr	Jun 2021Filed 7 Jul	Sep 2021Filed 20 Oct	Dec 2021Filed 17 Jan	Mar 2022Filed 15 Apr	Jun 2022Filed 14 Jul	Dec 2022Filed 16 Jan	Mar 2023Filed 14 Apr	Jun 2023Filed 13 Jul	Sep 2023Filed 10 Oct	Dec 2023Filed 16 Jan	Mar 2024Filed 9 Apr	Jun 2024Filed 11 Jul	Sep 2024Filed 4 Nov	Dec 2024Filed 17 Jan	Mar 2025Filed 18 Apr	Jun 2025Filed 9 Jul	Sep 2025Filed 11 Oct	Dec 2025Filed 6 Feb	Mar 2026Filed 30 May	Jun 2026Filed 30 Jul	Sep 2026Filed 8 Oct
	60.49%	60.49%	60.49%	68.63%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.53%
Indian promoters	60.49%	60.49%	60.49%	68.63%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.49%	60.53%
	39.51%	39.51%	39.51%	31.37%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.51%	39.47%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%
Mutual funds	0.11%	0.11%	0.11%	0.12%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.40%	39.37%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	23.87%	23.87%	23.87%	23.52%	24.33%	24.27%	24.62%	24.18%	24.18%	24.24%	24.07%	23.63%	25.12%	25.30%	24.86%	24.86%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	12.34%	12.34%	12.40%	12.82%	12.01%	12.05%	11.76%	12.20%	12.20%	12.20%	12.10%	12.41%	11.11%	11.03%	11.54%	11.54%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.76%	1.76%	1.76%	1.76%	1.76%	1.76%	1.76%	1.76%	1.77%	1.77%	1.91%	1.92%	1.87%	1.99%	1.99%	1.99%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.23%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.17%	–	0.14%	0.16%	0.16%	0.18%	0.18%
Foreign nationals	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.17%	–	–	–	–	0.00%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.20%	1.20%	1.14%	1.07%	1.07%	1.09%	1.03%	1.03%	1.03%	1.03%	1.16%	1.30%	1.14%	0.92%	0.84%	0.80%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.20%	1.20%	1.14%	1.07%	1.07%	1.09%	1.03%	1.03%	1.03%	1.03%	–	1.30%	1.14%	0.92%	0.84%	0.80%
Shares in issue	71,85,200	71,85,200	71,85,200	63,33,228	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200	71,85,200
Shares locked in	–	–	–	–	–	–	–	–	–	–	–	–	43,46,550	18,16,100	18,16,100	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Promoters' shares locked in	–	–	–	–	–	–	–	–	–	–	–	–	43,46,550	18,16,100	18,16,100	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

Filings before Dec 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.

Number of Saffron Industries shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2016Filed 24 Jan	Mar 2017Filed 17 Apr	Jun 2017Filed 17 Jul	Sep 2017Filed 23 May	Dec 2017Filed 8 Apr	Mar 2018Filed 9 May	Jun 2018Filed 5 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 14 Jan	Mar 2019Filed 25 Apr	Jun 2019Filed 18 Jul	Sep 2019Filed 25 Oct	Dec 2019Filed 6 Jan	Mar 2020Filed 11 Apr	Jun 2020Filed 10 Jul	Sep 2020Filed 9 Oct	Dec 2020Filed 14 Jan	Mar 2021Filed 7 Apr	Jun 2021Filed 7 Jul	Sep 2021Filed 20 Oct	Dec 2021Filed 17 Jan	Mar 2022Filed 15 Apr	Jun 2022Filed 14 Jul	Dec 2022Filed 16 Jan	Mar 2023Filed 14 Apr	Jun 2023Filed 13 Jul	Sep 2023Filed 10 Oct	Dec 2023Filed 16 Jan	Mar 2024Filed 9 Apr	Jun 2024Filed 11 Jul	Sep 2024Filed 4 Nov	Dec 2024Filed 17 Jan	Mar 2025Filed 18 Apr	Jun 2025Filed 9 Jul	Sep 2025Filed 11 Oct	Dec 2025Filed 6 Feb	Mar 2026Filed 30 May	Jun 2026Filed 30 Jul	Sep 2026Filed 8 Oct
All shareholders	1,867	1,873	1,874	1,445	1,857	1,846	1,836	1,834	1,832	1,827	1,827	1,829	1,844	1,840	1,841	1,843	1,833	1,859	1,847	1,833	1,912	1,904	1,935	1,948	1,956	1,955	1,961	2,066	2,142	2,318	2,410	2,430	2,535	2,493	2,685	3,552	3,519	3,373	3,315
	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12
Indian promoters	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12
	1,855	1,861	1,862	1,433	1,845	1,834	1,824	1,822	1,820	1,815	1,815	1,817	1,832	1,828	1,829	1,831	1,821	1,847	1,835	1,821	1,900	1,892	1,923	1,936	1,944	1,943	1,949	2,054	2,130	2,306	2,398	2,418	2,523	2,481	2,673	3,540	3,507	3,361	3,303
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Mutual funds	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,935	1,943	1,942	1,948	2,053	2,129	2,305	2,397	2,417	2,522	2,480	2,672	3,539	3,506	3,360	3,302
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,840	1,849	1,848	1,855	1,963	2,039	2,217	2,308	2,327	2,435	2,389	2,579	3,440	3,410	3,267	3,213
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	14	14	14	15	13	13	12	13	13	13	12	10	9	8	10	10
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	24	24	24	24	24	24	24	24	25	25	26	28	32	31	29	28
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9	8	8	8	8	8	8	8	8	6	–	7	10	10	10	8
Foreign nationals	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	6	–	–	–	–	0
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	48	48	48	46	45	45	44	44	44	43	47	48	48	47	44	43
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	48	48	48	46	45	45	44	44	44	43	–	48	48	47	44	43

Saffron 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 NIMISH VINOD MAHESHWARI, 18.34%.

Holder
NIMISH VINOD MAHESHWARIIndian companies, trusts and others	18.34%	13,17,817	7,44,117
VINOD RAMGOPAL MAHESHWARIIndian companies, trusts and others	14.90%	10,70,800	0
SHRIRANGA VINOD MAHESHWARIIndian companies, trusts and others	11.02%	7,91,695	7,89,195
MADHYADESH CONSTRUCTION AND FINANCE PVTIndian companies, trusts and others	6.35%	4,56,500	4,56,500
NAVA BHARAT PRESS NAGPUR PVT LTDIndian companies, trusts and others	5.17%	3,71,200	3,21,700
MADHYADESH HOLDINGS PVT LTDIndian companies, trusts and others	1.86%	1,33,700	1,33,700
NAVA BHARAT PRESS LTDIndian companies, trusts and others	1.40%	1,00,400	1,00,400
ANUPAMA NIMISH MAHESHWARIIndian companies, trusts and others	1.31%	94,060	94,060
VINEETA JAJUIndividuals and Hindu undivided families	0.12%	8,977	8,977
VAIBHAV N MAHESHWARIIndividuals and Hindu undivided families	0.03%	2,500	2,500
SHUBHA MAHESHWARIIndividuals and Hindu undivided families	0.01%	400	400
MADHYADESH PRESS PVT LTDIndian companies, trusts and others	0.01%	1,000	1,000

No promoter shares are reported as pledged. In demat is the part of the holding kept electronically; the rest is paper certificates.

Largest public holders of Saffron Industries, filing by filing

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

Holder	Dec 2016Filed 24 Jan	Mar 2017Filed 17 Apr	Jun 2017Filed 17 Jul	Sep 2017Filed 23 May	Dec 2017Filed 8 Apr	Mar 2018Filed 9 May	Jun 2018Filed 5 Jul	Sep 2018Filed 21 Oct	Dec 2018Filed 14 Jan	Mar 2019Filed 25 Apr	Jun 2019Filed 18 Jul	Sep 2019Filed 25 Oct	Dec 2019Filed 6 Jan	Mar 2020Filed 11 Apr	Jun 2020Filed 10 Jul	Sep 2020Filed 9 Oct	Dec 2020Filed 14 Jan	Mar 2021Filed 7 Apr	Jun 2021Filed 7 Jul	Sep 2021Filed 20 Oct	Dec 2021Filed 17 Jan	Mar 2022Filed 15 Apr	Jun 2022Filed 14 Jul	Dec 2022Filed 16 Jan	Mar 2023Filed 14 Apr	Jun 2023Filed 13 Jul	Sep 2023Filed 10 Oct	Dec 2023Filed 16 Jan	Mar 2024Filed 9 Apr	Jun 2024Filed 11 Jul	Sep 2024Filed 4 Nov	Dec 2024Filed 17 Jan	Mar 2025Filed 18 Apr	Jun 2025Filed 9 Jul	Sep 2025Filed 11 Oct	Dec 2025Filed 6 Feb	Mar 2026Filed 30 May	Jun 2026Filed 30 Jul	Sep 2026Filed 8 Oct
RAJU BHANDARIResident individuals, over ₹2 lakh at face value	5.75%	5.60%	5.53%	3.58%	5.55%	5.55%	5.55%	5.71%	5.71%	5.85%	5.85%	5.85%	5.85%	5.92%	5.92%	5.92%	5.92%	5.92%	5.92%	5.92%	–	–	–	–	–	–	–	–	–	–	–	–	–	5.92%	5.92%	4.88%	5.14%	4.81%	4.81%
MAHENDRA GIRDHARILAL WADHWANIResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.52%	2.81%	2.81%	2.81%	2.81%	2.81%

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.