Blogs, insights, guides and videos on India's unlisted market — all in one place.
India's only gas exchange can now sell gas up to two years in advance. That could bring in large deals and much bigger volumes for IGX. But its earlier long-term contracts barely traded, so will buyers show up this time?
Almost every Indian adult has a story involving a squat bottle with a monk on the label. But the company behind Old Monk doesn't trade on any real exchange, increasingly lets other people bottle its rum, and grew profits 53% on revenue that moved just 7%. Here's how Mohan Meakin makes money — and what it's worth.
It sold one business for ₹276 crore and booked more profit from that single deal than from a full year of operations. Carrier India makes chillers, VRF systems and room ACs — but 57% of its revenue is simply imported and resold. Here's what that does to the margins.
MSE's Electronic Bond Platform just handled a tokenised corporate bond under SEBI's Demat 2.0 pilot. For shareholders, the exciting part isn't the blockchain — it's the balance sheet. Because MSE has held this exact licence since 2016 and done almost nothing with it, and the reason why has nothing to do with technology.
Merino Industries has made decorative laminates for 61 years, and it's very good at it. That business earned ₹219 crore last year. So why did the company end FY26 with a net profit of ₹32.89 lakh?
No engine, no exhaust — just aerodynamic lift. The Khagantak-243 glide bomb cleared its IAF drop test, and the company behind it is a pre-revenue startup from Nagpur.
A Pune company watched a quarter of its revenue disappear in FY26 — and posted the biggest profit in its 25-year history. Maharashtra Knowledge Corporation owns no classrooms, employs no teachers, and earns more from its bank account than from its actual business. Here's how that works, and what could break it.
India is minting ultra-rich people faster than almost anywhere on earth. So why did one of the country's oldest wealth managers just watch its profit fall 78%? The answer sits in a gap between where ASK's assets are growing and where its fees actually come from.
Every front-wheel-drive car carries four constant velocity joints, and a fair number of them come from a 41-year-old company in Faridabad. GKN Driveline India posted 26% profit growth in FY26 — but domestic sales didn't grow at all, and half its revenue rides on a single customer.
Last year it sold ₹2,052 crore of railway wagons and out-earned both Titagarh and Jupiter Wagons. It was the only one of the three to generate positive free cash flow. And it trades at one-seventh their valuation. So is Hindusthan Engineering a bargain, or is there something in the footnotes? We opened the annual report.
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