India's Richest People 2026 edition · 1 director · Source: Hurun India
- #437 Rakesh Ramanlal Shah & family ₹8,200 Cr
Revenue · FY 2024
₹8.85 Cr
▲ 117% YoY
Net loss · FY 2024
₹6.07 Cr
Net margin -68.6%
EBITDA · FY 2024
-₹3.55 Cr
EBITDA margin -40.1%
Authorised capital
₹2.2 Cr
Registered with MCA
Paid-up capital
₹2.05 Cr
Issued & subscribed
Company age
19 yrs
Est. 2007
Directors on board
3
As per MCA filings
GST registrations
1
None active
About Gsec Aviation Limited.
Data last updated:
Gsec Aviation Limited. is a public limited company based in Ahmedabad, Gujarat, India, a subsidiary of Komal Infotech Private Limited. It operates in the ground ops and handling segment of the transport and logistics sector. It was incorporated on 23 April 2007 and has been in existence for over 19 years.
Its director Rakesh Ramanlal Shah and family are #437 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U63033GJ2007PLC050617. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹2.2 Cr and a paid-up capital of ₹2.05 Cr. It is led by directors including Shaishav Rakeshkumar Shah and Samir Hanskumar Mankad.
Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 2nd Floor Gujarat Chamber'S Building Ashram Road, Ahmedabad, Gujarat, India – 380009.
As per the financials filed for FY 2024, the company reported a revenue of ₹8.85 Cr, a growth of 117% compared to the previous year. For the same year it recorded a net loss of ₹6.07 Cr (net margin -68.6%) and EBITDA of -₹3.55 Cr (EBITDA margin -40.1%). Revenue has grown at a compounded annual rate (CAGR) of 78% over three years and 27% over five years.
The company is associated with 1 brand: GSEC. Court records list 1 case involving the company, including 1 filed by the company.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gsecl.co.in.
Company details
CIN U63033GJ2007PLC050617
Registration Number 050617
Incorporation Date 23 April 2007
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 24 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Komal Infotech Private Limited
Compliance Status Active Compliant
Key People
Shaishav Rakeshkumar Shah Director Samir Hanskumar Mankad Director Rakesh Ramanlal Shah Director Recognitions & Rankings of Gsec Aviation Limited
Contact details
Gsec Aviation Limited.'s registered office is in Ahmedabad, Gujarat. Its website is gsecl.co.in. Its e-mail address is in the company report.
- Email
- Website
- Registered Address2nd Floor Gujarat Chamber'S Building Ashram Road, Ahmedabad, Gujarat, India – 380009
- IndustryTransport and Logistics, Ground Ops & Handling
To see the full contact details of Gsec Aviation Limited., buy the company report.
Comprehensive company report
Gsec Aviation 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
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Brands
Gsec Aviation Limited operates one associated brand: GSEC. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ocean freight forwarding and logistics services are provided globally. | gsecl.co.in |
Business activity
The main business activity of Gsec Aviation Limited is support service to organizations. In detail, this covers rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N1 | Rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities |
To see the full business activity and turnover split of Gsec Aviation Limited., buy the company report.
Financials of Gsec Aviation Limited.
FY 2025 filings availableGsec Aviation Limited. reported revenue of ₹8.85 Cr (up 117% YoY) for FY 2024.
Revenue · FY 2024
₹8.85 Cr ▲ 117%
Net loss · FY 2024
₹6.07 Cr margin -68.6%
EBITDA · FY 2024
-₹3.55 Cr margin -40.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 117%
3 years · compounded
▲ 78%
5 years · compounded
▲ 27%
EBITDA CAGR growth
1 year
▲ 20%
3 years · compounded
▼ 162%
5 years · compounded
▼ 57%
Revenue has grown at a compounded annual rate (CAGR) of 27% over five years, including 117% growth in the latest year. EBITDA rose 20% 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 |
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| EBITDA | -₹3.55 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹6.07 Cr | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profitability | |||||
| EBITDA Margin | -40.1% | ||||
| Net Profit Margin | -68.6% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Gsec Aviation Limited., buy the company report.
Board of directors of Gsec Aviation Limited.
Gsec Aviation Limited has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shaishav Rakeshkumar Shah Also directs: Vishwa Imports LLP, Raisin Hospitality LLP, Securemax Consultancy Services LLP and 5 more | Director | 23 Apr 2007 | 19 Years 6 Months | Current |
| Samir Hanskumar Mankad Also directs: Gsec Limited, Skypark Mumbai Services Private Limited, Gsec-Indo-Thai Ground Handling Private Limited and 5 more | Director | 06 Feb 2010 | 16 Years 8 Months | Current |
| Rakesh Ramanlal Shah Also directs: Novagreens Realities LLP, Imp Powers Limited, Electrify Energy Private Limited and 5 more | Director | 23 Apr 2007 | 19 Years 6 Months | Current |
Auditor
Gsec Aviation Limited. is audited by B J S & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B J S & ASSOCIATES | FY 2023 | 113268W |
Shareholding
The shareholding of Gsec Aviation Limited. is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Gsec Aviation Limited., buy the company report.
Legal cases
Gsec Aviation Limited. has 1 court case on record: 1 filed by Gsec Aviation Limited. All case is disposed.
Total cases
1
Filed by the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLT | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Ankush Finstock Limited | Disposed |
To see the full case history of Gsec Aviation Limited., buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gsec Aviation Limited.; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Gsec Aviation Limited has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
Total GSTINs
1
Cancelled / inactive
1
To see the full GST registrations and return filing status of Gsec Aviation Limited., buy the company report.
Recent activity
Gsec Aviation Limited. has 5 board changes on record since 2007: 4 appointments and 1 cessation. The latest: Janak Patel ceased to be Director on 06 Feb 2010.
AGM
Gsec Aviation Limited. last Annual general meeting of members was held on 24 Sep 2025 as per latest MCA records.
Filing
Gsec Aviation Limited. has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Janak Patel ceased to be Director.
Appointed
Samir Hanskumar Mankad was appointed as Director.
Appointed
Janak Patel was appointed as Director.
Appointed
Rakesh Ramanlal Shah was appointed as Director.
Appointed
Shaishav Rakeshkumar Shah was appointed as Director.
Incorporation
23 Apr 2007
Gsec Aviation Limited. was registered on 23 Apr 2007 with Roc Ahmedabad & aged 19 years 6 months as per MCA records.
News
Frequently asked questions
Gsec Aviation Limited is an active public limited company based in Ahmedabad, Gujarat, India. The company works in ground ops and handling, within the transport and logistics industry. It was incorporated on 23 April 2007 (19+ years old) and is registered under CIN U63033GJ2007PLC050617.
Gsec Aviation Limited has 3 current directors:
- Shaishav Rakeshkumar Shah - Director
- Samir Hanskumar Mankad - Director
- Rakesh Ramanlal Shah - Director
The latest financial statements of Gsec Aviation Limited on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 24 September 2025. Year-wise statements from 2015 are in the company report.
No. Gsec Aviation Limited has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of Gsec Aviation Limited is U63033GJ2007PLC050617. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Gsec Aviation Limited has 1 court case on record: 1 filed by the company.
Gsec Aviation Limited was incorporated on 23 April 2007, making it 19+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Janak Patel ceased to be Director on 06 Feb 2010. Samir Hanskumar Mankad was appointed as Director on 06 Feb 2010. Janak Patel was appointed as Director on 23 Apr 2007. Gsec Aviation Limited has 5 board changes on record in total.
Gsec Aviation Limited can be reached through the website gsecl.co.in. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of Gsec Aviation Limited is at 2nd Floor Gujarat ChamberS Building Ashram Road, Ahmedabad, Gujarat, India – 380009.