DPIIT recognised startup Government of India
Startup India
Altmat Private Limited - manufacturing in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹1.1 Cr
▲ 61% YoY
Net profit · FY 2024
₹5.47 Lakh
Net margin 5%
EBITDA · FY 2024
₹9.4 Lakh
EBITDA margin 8.5%
Authorised capital
₹60 Lakh
Registered with MCA
Paid-up capital
₹56.83 Lakh
Issued & subscribed
Company age
7 yrs
Est. 2019
Directors on board
3
As per MCA filings
Key managerial staff
1
CEO, CFO, company secretary
About Altmat Private Limited
Data last updated:
Altmat Private Limited is a private limited company based in Ahmedabad, Gujarat, India, recognised as a startup by DPIIT. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 19 December 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U17299GJ2019PTC111529. Its GSTIN is 24AATCA0717A1Z5 (Gujarat).
The company has an authorised share capital of ₹60 Lakh and a paid-up capital of ₹56.83 Lakh. It is led by directors Hardik Rajiv Nyati and Payal Maliwal.
Its last annual general meeting (AGM) was held on 27 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 406 4th Floor Soliter Fp – 182 Sp – 182/D Tps – 14 Opp. Bombay Garage Shahibaug, Ahmedabad, Gujarat, India – 380004.
As per the financials filed for FY 2024, the company reported a revenue of ₹1.1 Cr, a growth of 61% compared to the previous year. For the same year it recorded a net profit of ₹5.47 Lakh (net margin 5%) and EBITDA of ₹9.4 Lakh (EBITDA margin 8.5%). Revenue has grown at a compounded annual rate (CAGR) of 107% over three years.
The company is associated with 1 brand: AltMat. The company has 1 deal on record (1 funding round); the latest was in October 2025. Its 4 peer companies in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 1 larger and 3 smaller; the largest is Ishika Lifestyles Private Limited with revenue of ₹1.1 Cr.
Altmat Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0123386). For more details, the company can be reached via its website altmat.in.
Company details
CIN U17299GJ2019PTC111529
Registration Number 111529
Incorporation Date 19 December 2019
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 27 September 2025
Date of Balance Sheet 31 March 2025
DPIIT Recognition Recognised Startup
MSME Classification Micro
Udyam Registration UDYAM-GJ-01-0123386
Recognitions & Rankings of Altmat
MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2024-25)
- Udyam number
- UDYAM-GJ-01-0123386
Contact details
Altmat Private Limited's registered office is in Ahmedabad, Gujarat. Its website is altmat.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address406 4th Floor Soliter Fp – 182 Sp – 182/D Tps – 14 Opp. Bombay Garage Shahibaug, Ahmedabad, Gujarat, India – 380004
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Altmat Private Limited, buy the company report.
Comprehensive company report
Altmat Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Business activity
The main business activity of Altmat is manufacturing. In detail, this covers textile, leather and other apparel products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products |
To see the full business activity and turnover split of Altmat Private Limited, buy the company report.
Financials of Altmat Private Limited
FY 2025 filings availableAltmat Private Limited reported revenue of ₹1.1 Cr (up 61% YoY) for FY 2024.
Revenue · FY 2024
₹1.1 Cr ▲ 61%
Net profit · FY 2024
₹5.47 Lakh margin 5%
EBITDA · FY 2024
₹9.4 Lakh margin 8.5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 61%
3 years · compounded
▲ 107%
EBITDA CAGR growth
1 year
▲ 303%
3 years · compounded
▲ 119%
Revenue has grown at a compounded annual rate (CAGR) of 107% over three years, including 61% growth in the latest year. EBITDA rose 303% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹9.4 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹5.47 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.5% | ||||
| Net Profit Margin | 5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Altmat Private Limited, buy the company report.
Board of directors and KMP of Altmat Private Limited
Altmat Private Limited currently reports 2 directors and 1 key managerial person.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hardik Rajiv Nyati Also directs: Suvi Legacy LLP, Shubhika Engineers Private Limited | Director | 22 May 2024 | 2 Years 5 Months | Current |
| Payal Maliwal Also directs: Suvi Legacy LLP | Director | 19 Dec 2019 | 6 Years 10 Months | Current |
| Shikha Shah Visnubhai | Ceo | 26 Sep 2024 | 2 Years 1 Months | Current |
Peer comparison
Altmat Private Limited is compared with the 4 companies closest to it by revenue in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ishika Lifestyles Private Limited | ₹1.1 Cr (FY 2024) | -57.0% | Surat, Gujarat, India | |||
| Altmat Private Limitedthis company | ₹1.1 Cr (FY 2024) | ₹5.47 Lakh | 5% | 61.0% | Ahmedabad, Gujarat, India | |
| Raj Knitfab Private Limited | ₹1.1 Cr (FY 2024) | -47.0% | Amritsar, Punjab, India | |||
| Namo Peegee Textiles Private Limited | ₹1.1 Cr (FY 2023) | 42.0% | Bhiwandi, Maharashtra, India | |||
| Sleeplove (OPC) Private Limited | ₹1.1 Cr (FY 2025) | 358.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Altmat Private Limited, buy the company report.
Auditor
Altmat Private Limited is audited by AKHILESH DEOPURA & CO. for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| AKHILESH DEOPURA & CO. | FY 2022 | 120423W |
Shareholding
The shareholding of Altmat Private Limited is on record for 3 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Altmat Private Limited, buy the company report.
Deals & funding
Altmat Private Limited has 1 deal on record (1 funding round); the latest was in October 2025.
Total deals
1
Funding round
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2025 | Funding round | Undisclosed | Investors: Rainmatter Ventures, H&M Hennes & MauritzInternational Ab, Turbostart |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Altmat Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Altmat Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Altmat has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AATCA0717A1Z5 | Gujarat | Active | 17 Jan 2020 |
To see the full GST registrations and return filing status of Altmat Private Limited, buy the company report.
Recent activity
Altmat Private Limited has 3 board changes on record since 2019: 3 appointments. The latest: Shikha Shah Visnubhai was appointed as CEO on 26 Sep 2024.
AGM
Altmat Private Limited last Annual general meeting of members was held on 27 Sep 2025 as per latest MCA records.
Filing
Altmat Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Appointed
Shikha Shah Visnubhai was appointed as CEO.
Appointed
Hardik Rajiv Nyati was appointed as Director.
Appointed
Payal Maliwal was appointed as Director.
Incorporation
19 Dec 2019
Altmat Private Limited was registered on 19 Dec 2019 with Roc Ahmedabad & aged 6 years 10 months as per MCA records.
Frequently asked questions
Altmat is an active private limited company based in Ahmedabad, Gujarat, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 19 December 2019 (7+ years old) and is registered under CIN U17299GJ2019PTC111529.
Altmat has 3 current directors and KMP:
- Hardik Rajiv Nyati - Director
- Payal Maliwal - Director
- Shikha Shah Visnubhai - Ceo
The latest financial statements of Altmat on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 27 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Altmat is 24AATCA0717A1Z5, registered in Gujarat.
The CIN (Corporate Identification Number) of Altmat is U17299GJ2019PTC111529. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Altmat was incorporated on 19 December 2019, making it 7+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Altmat has 1 deal on record (1 funding round); the latest was in October 2025.
The peers of Altmat by revenue are Ishika Lifestyles Private Limited, Raj Knitfab Private Limited, Namo Peegee Textiles Private Limited, Sleeplove (OPC) Private Limited, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Shikha Shah Visnubhai was appointed as CEO on 26 Sep 2024. Hardik Rajiv Nyati was appointed as Director on 22 May 2024. Payal Maliwal was appointed as Director on 19 Dec 2019.
Yes, Altmat is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, Altmat is registered as a micro enterprise under Udyam registration (number: UDYAM-GJ-01-0123386).