About Aashiana Rolling Mills Limited
Data last updated:
Aashiana Rolling Mills Limited is a public limited company based in Bavla, Gujarat, India. It operates in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 25 August 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U67120GJ1995PLC109367. Its GSTIN is 24AAFCA5815P1ZF (Gujarat).
The company has an authorised share capital of ₹1.4 Cr and a paid-up capital of ₹1.34 Cr. It is led by directors including Madhu Devendrakumar Goyal and Shiwani Salil Riswadkar.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bavla, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹460.54 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net profit of ₹4.83 Lakh (net margin 0%) and EBITDA of ₹6.44 Cr (EBITDA margin 1.4%). Revenue has grown at a compounded annual rate (CAGR) of 5% over three years and 8% over five years.
The company has about 21 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹1,202.18 Cr and satisfied charges of ₹210.4 Cr on record. Court records list 29 cases involving the company, including 19 filed by the company and 10 filed against it; 3 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website friendssteel.com.
Company details
CIN history
Aashiana Rolling Mills has one previous CIN (Corporate Identification Number): U67120DL1995PLC071415. The current CIN is U67120GJ1995PLC109367, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67120GJ1995PLC109367 | Current |
| U67120DL1995PLC071415 | Previous |
Contact details
Aashiana Rolling Mills Limited's registered office is in Bavla, Gujarat. Its website is friendssteel.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSurvey No. 136(New Survey No 46), Nr. Darpan Ispat Pvt. Ltd., Bavla, Gujarat, India – 382220
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Aashiana Rolling Mills 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 Aashiana Rolling Mills is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Aashiana Rolling Mills Limited, buy the company report.
Financials of Aashiana Rolling Mills Limited
FY 2025 filings availableAashiana Rolling Mills Limited reported revenue of ₹460.54 Cr (down 4% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 4% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. EBITDA fell 9% 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 |
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| Total Expenses | |||||
| EBITDA | ₹6.44 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹4.83 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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| Long-term Borrowings | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 1.4% | ||||
| Net Profit Margin | 0% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Aashiana Rolling Mills Limited, buy the company report.
Board of directors of Aashiana Rolling Mills Limited
Aashiana Rolling Mills has 7 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Madhu Devendrakumar Goyal Also directs: Amico Renewable LLP, Corespace Estates Private Limited | Director | 22 Aug 2016 | 10 Years 2 Months | Current |
| Shiwani Salil Riswadkar | Director | 09 Mar 2019 | 7 Years 8 Months | Current |
| Paurviben Binitkumar Shah | Director | 09 Mar 2019 | 7 Years 8 Months | Current |
| Sona Bachani Also directs: Koura Fine Diamond Jewelry Limited, Eforu Entertainment Limited, SGL Resources Limited and 1 more | Director | 01 Jun 2024 | 2 Years 5 Months | Current |
| Devendra Kumar Goyal Also directs: Friends Ispat Limited | Director | 16 Jan 2006 | 20 Years 9 Months | Current |
| Anshum Devendra Goyal Also directs: GNG Steels Private Limited, Darpan Ispat Private Limited | Director | 16 Jan 2006 | 20 Years 9 Months | Current |
Peer comparison
Aashiana Rolling Mills Limited is compared with the 9 companies closest to it by revenue in the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Advance Valves Private Ltd | ₹461.98 Cr (FY 2025) | 50.0% | Delhi, India | |||
| Multimetals Limited | ₹461.7 Cr (FY 2025) | 9.0% | Kotah, Rajasthan, India | |||
| Alang Auto and General Engineering Company Pvt Limited | ₹461.11 Cr (FY 2025) | 6.0% | Ghaziabad, Uttar Pradesh, India | |||
| Triveni Smelters Private Limited | ₹460.57 Cr (FY 2025) | 52.0% | Patna, Bihar, India | |||
| Aashiana Rolling Mills Limitedthis company | ₹460.54 Cr (FY 2025) | ₹4.83 Lakh | 0% | -4.0% | Bavla, Gujarat, India | |
| GLS Polyfilms Private Limited | ₹460.06 Cr (FY 2025) | -1.0% | Gurugram, Haryana, India | |||
| Gestamp Pune Automotive Private Limited | ₹459.94 Cr (FY 2025) | 11.0% | Village Takve Budruk, Maharashtra, India | |||
| Synergies Castings Limited | ₹458.88 Cr (FY 2024) | -12.0% | Hyderabad, Telangana, India | |||
| Maan Concast Private Limited | ₹458.29 Cr (FY 2025) | -22.0% | Kolkata, West Bengal, India | |||
| Oriental Foundry Private Limited | ₹458.23 Cr (FY 2025) | 27.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Aashiana Rolling Mills Limited, buy the company report.
Auditor
Aashiana Rolling Mills Limited is audited by S.K. MEHTA & COMPANY for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.K. MEHTA & COMPANY | FY 2023 | 000478N |
Shareholding
The shareholding of Aashiana Rolling Mills 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 Aashiana Rolling Mills Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 12 Jul 2023 | 100743478 | Hdfc Bank Limited | ₹7.77 Lakh | Open | |
| 29 Sep 2022 | 100619180 | Hdfc Bank Limited | ₹1.17 Cr | Open | |
| 03 Nov 2016 | 100069416 | Yes Bank Limited | ₹34.43 Cr | Open | |
| 03 Nov 2016 | 100069418 | Yes Bank Limited | ₹1.5 Cr | Open | |
| 02 Jul 2012 | 10366046 | Sbicap Trustee Company Limited | ₹1,165 Cr | Open |
To see the full charge records of Aashiana Rolling Mills Limited, buy the company report.
Total charge records: 14 View all charges
Legal cases
Aashiana Rolling Mills Limited has 29 court cases on record: 19 filed by Aashiana Rolling Mills, 10 filed against it. 3 cases are pending and 26 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 22 | 6 | 3 |
| High courts | 6 | 3 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 29)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South, Delhi | Court case (TM) | Filed against the company by M/S Kamdhenu Ltd. and 1 other | Disposed |
| District court, Ahmedabad, Gujarat | Court case (CR A) | Filed against the company by an individual | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against individuals | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against individuals | Pending |
| District court, Ahmedabad, Gujarat | Court case (AGRMNT LC) | Filed against the company by an individual | Disposed |
To see the full case history of Aashiana Rolling Mills 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.
Credit ratings & regulatory alerts
Aashiana Rolling Mills Limited was last rated by Brickwork on 04 Aug 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Brickwork | 04 Aug 2021 |
To see the full credit ratings and regulatory alerts of Aashiana Rolling Mills Limited, buy the company report.
MSME payment delays
Aashiana Rolling Mills Limited has 3 MSME Form 1 returns on record for the period ending Mar 2019, listing 11 overdue payments to 5 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 5)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Aashiana Rolling Mills Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| Intech Weight System | |||
| an individual supplier |
To see the full MSME payment records of Aashiana Rolling Mills Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Aashiana Rolling Mills has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAFCA5815P1ZF | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Aashiana Rolling Mills Limited, buy the company report.
Recent activity
Aashiana Rolling Mills Limited has 16 board changes on record since 2006: 7 appointments and 9 cessations. The latest: Shridhar Kanubhai Shah ceased to be Additional Director on 29 Sep 2025.
36 earlier events are in the company report.
Frequently asked questions
Aashiana Rolling Mills is an active public limited company based in Bavla, Gujarat, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 25 August 1995 (31+ years old) and is registered under CIN U67120GJ1995PLC109367.
Aashiana Rolling Mills has 7 current directors:
- Madhu Devendrakumar Goyal - Director
- Shiwani Salil Riswadkar - Director
- Paurviben Binitkumar Shah - Director
- Sona Bachani - Director
- Devendra Kumar Goyal - Director
- Anshum Devendra Goyal - Director
- Shridhar Kanubhai Shah - Director
The latest financial statements of Aashiana Rolling Mills on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Aashiana Rolling Mills is 24AAFCA5815P1ZF, registered in Gujarat.
The CIN (Corporate Identification Number) of Aashiana Rolling Mills is U67120GJ1995PLC109367. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Aashiana Rolling Mills has 29 court cases on record: 19 filed by the company and 10 filed against it. 3 are pending. Most are in the district courts.
Aashiana Rolling Mills was incorporated on 25 August 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Aashiana Rolling Mills by revenue are Advance Valves Private Ltd, Multimetals Limited, Alang Auto and General Engineering Company Pvt Limited, Triveni Smelters Private Limited, GLS Polyfilms Private Limited and 4 more, all in the same principal business activity (metal and metal products).
Shridhar Kanubhai Shah ceased to be Additional Director on 29 Sep 2025. Shridhar Kanubhai Shah was appointed as Director on 19 Aug 2025. Richa Garg ceased to be Director on 12 Aug 2025. Aashiana Rolling Mills has 16 board changes on record in total.
Aashiana Rolling Mills has 3 MSME Form 1 returns on record for the period ending Mar 2019, listing 11 overdue payments to 5 micro and small suppliers. The latest return was filed on 11 Nov 2019.
Aashiana Rolling Mills can be reached through the website friendssteel.com. Its registered office is in Bavla, Gujarat, India.
The registered office of Aashiana Rolling Mills is at Survey No. 136New Survey No 46, Nr. Darpan Ispat Pvt. Ltd., Bavla, Gujarat, India – 382220.
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