About Indo Avia Services Limited
Data last updated:
Indo Avia Services Limited is a public limited company based in Bangalore, Karnataka, India. It operates in the aircraft and component dealership segment of the transport and logistics sector. It was incorporated on 12 September 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U35303KA1994PLC016219. Its GSTIN is 27AAACI5908C1ZV (Maharashtra).
The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹1.95 Cr. It was formerly known as Indo-Russian Aviation Private Limited. It is led by directors including Nikita Muravev and Boris Vinogradov.
Its last annual general meeting (AGM) was held on 25 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 15/1 Cubbon Roadbangalore, Karnataka, India – 560001.
As per the financials filed for FY 2025, the company reported a revenue of ₹61.62 Cr, a growth of 79% compared to the previous year. For the same year it recorded a net profit of ₹11.42 Cr (net margin 18.5%) and EBITDA of ₹15.4 Cr (EBITDA margin 25%). Revenue has declined at a compounded annual rate (CAGR) of 8% over three years.
The company has 1 deal on record (1 secondary share transfer); the latest was in March 2023. Its 3 peer companies in the Aviation industry (Aircraft and Components Dealers), with the same principal business activity (wholesale trading) are compared by revenue, 1 larger and 2 smaller; the largest is Ascend Aviation India Private Limited with revenue of ₹81.16 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website iralindia.com.
Company details
CIN history
Indo Avia Services has one previous CIN (Corporate Identification Number): U35303KA1994PTC016219. The current CIN is U35303KA1994PLC016219, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U35303KA1994PLC016219 | Current |
| U35303KA1994PTC016219 | Previous |
Contact details
Indo Avia Services Limited's registered office is in Bangalore, Karnataka. Its website is iralindia.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address15/1 Cubbon Roadbangalore, Karnataka, India – 560001
- IndustryTransport and Logistics, Aircraft & Component Dealership
To see the full contact details of Indo Avia Services Limited, buy the company report.
- 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
Business activity
The main business activity of Indo Avia Services is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Indo Avia Services Limited, buy the company report.
Financials of Indo Avia Services Limited
FY 2025 filings availableIndo Avia Services Limited reported revenue of ₹61.62 Cr (up 79% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 79% in the latest year, though over three years it has declined at a compounded annual rate (CAGR) of 8%. EBITDA rose 62% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| 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 | ₹15.4 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.42 Cr | ||||
| 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 25% | ||||
| Net Profit Margin | 18.5% | ||||
| 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 Indo Avia Services Limited, buy the company report.
Board of directors of Indo Avia Services Limited
Indo Avia Services has 8 current directors and 50 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nikita Muravev | Nominee Director | 22 Jun 2023 | 3 Years 4 Months | Current |
| Boris Vinogradov | Nominee Director | 14 Jul 2020 | 6 Years 3 Months | Current |
| Varinder Kumar Also directs: Samtel Hal Display Systems Limited | Nominee Director | 26 Jul 2023 | 3 Years 3 Months | Current |
| Rajesh Balkrishna Mangurkar | Nominee Director | 28 Apr 2023 | 3 Years 6 Months | Current |
| Aleksandr Miroshnikov | Nominee Director | 17 Oct 2024 | 2 Years 0 Months | Current |
| Igor Lev Gusev | Alternate Director | 20 Jul 2020 | 6 Years 3 Months | Current |
Peer comparison
Indo Avia Services Limited is compared with the 3 companies closest to it by revenue in the Aviation industry (Aircraft and Components Dealers), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ascend Aviation India Private Limited | ₹81.16 Cr (FY 2025) | -18.0% | New Delhi, Delhi, India | |||
| Indo Avia Services Limitedthis company | ₹61.62 Cr (FY 2025) | ₹11.42 Cr | 18.5% | 79.0% | Bangalore, Karnataka, India | |
| Apollo Aerospace Components India Private Limited | ₹58.89 Cr (FY 2025) | -4.0% | Bangalore, Karnataka, India | |||
| Arrow Aviation Services Private Limited | ₹45.05 Cr (FY 2025) | 21.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Indo Avia Services Limited, buy the company report.
Auditor
Indo Avia Services Limited is audited by Patil Daware Girase Pawar & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Patil Daware Girase Pawar & Associates | FY 2023 | 121947W |
Shareholding
The shareholding of Indo Avia Services Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Indo Avia Services Limited, buy the company report.
Deals & funding
Indo Avia Services Limited has 1 deal on record (1 secondary share transfer); the latest was in March 2023.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: Hindustan Aeronautics Limited & Varinder Kumar, Hindustan Aeronautics Limited & Shailesh Bansal, United Aircraft Corporation Russia (Pjsc Uac) Seller: Hindustan Aeronautics Limited & Mohammed Mazhar Ali Quraishi, Hindustan Aeronautics Limited & Debyendu Maiti, an individual |
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 Indo Avia Services 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 Indo Avia Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Indo Avia Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACI5908C1ZV | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Indo Avia Services Limited, buy the company report.
Recent activity
Indo Avia Services Limited has 53 board changes on record since 2007: 9 appointments and 44 cessations. The latest: Shrirang Anilrao Kothe was appointed as Nominee Director on 10 Feb 2026.
44 earlier events are in the company report.
Frequently asked questions
Indo Avia Services is an active public limited company based in Bangalore, Karnataka, India. The company works in aircraft and component dealership, within the transport and logistics industry. It was incorporated on 12 September 1994 (32+ years old) and is registered under CIN U35303KA1994PLC016219.
Indo Avia Services has 8 current directors:
- Nikita Muravev - Nominee Director
- Boris Vinogradov - Nominee Director
- Varinder Kumar - Nominee Director
- Rajesh Balkrishna Mangurkar - Nominee Director
- Aleksandr Miroshnikov - Nominee Director
- Igor Lev Gusev - Alternate Director
- Lalith Mohan Gunashaker - Alternate Director
- Shrirang Anilrao Kothe - Nominee Director
The latest financial statements of Indo Avia Services on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Indo Avia Services is 27AAACI5908C1ZV, registered in Maharashtra.
The CIN (Corporate Identification Number) of Indo Avia Services is U35303KA1994PLC016219. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indo Avia Services was incorporated on 12 September 1994, making it 32+ years old. It is registered with the Registrar of Companies, Bangalore.
Indo Avia Services has 1 deal on record (1 secondary share transfer); the latest was in March 2023.
The peers of Indo Avia Services by revenue are Ascend Aviation India Private Limited, Apollo Aerospace Components India Private Limited, Arrow Aviation Services Private Limited, all in the Aviation industry (Aircraft and Components Dealers), with the same principal business activity (wholesale trading).
Shrirang Anilrao Kothe was appointed as Nominee Director on 10 Feb 2026. Sudhansu Mohan Jena ceased to be Nominee Director on 23 Dec 2025. Lalith Mohan Gunashaker was appointed as Alternate Director on 28 Feb 2025. Indo Avia Services has 53 board changes on record in total.
Indo Avia Services can be reached through the website iralindia.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of Indo Avia Services is at 151 Cubbon Roadbangalore, Karnataka, India – 560001.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
