MSME (Udyam registered) Ministry of MSME
- Category
- Small (2020-21)
- Udyam number
- UDYAM-HP-11-0002098
Affine Formulations Limited - pharma in Indore, Madhya Pradesh, India. FY 2026 financials & compliance.
Revenue · FY 2022
₹44.05 Cr
▲ 4% YoY
Net profit · FY 2022
₹55.51 Lakh
Net margin 1.3%
EBITDA · FY 2022
₹2.2 Cr
EBITDA margin 5%
Authorised capital
₹10 Cr
Registered with MCA
Paid-up capital
₹6 Cr
Issued & subscribed
Open charges
₹13.39 Cr
Satisfied ₹8.81 Cr
Company age
20 yrs
Est. 2006
Employees · EPFO
26
Provident fund records
About Affine Formulations Limited
Data last updated:
Affine Formulations Limited is a public limited company based in Indore, Madhya Pradesh, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 04 July 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN U24232MP2006PLC018755. Its GSTIN is 02AAGCA2291J1ZW (Himachal Pradesh).
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹6 Cr. It was formerly known as Affine Formulations Private Limited. It is led by directors including Shailendra Biyani and Pradhyumn Nyati.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at 28/10 Talwali Dewas Naka, Indore, Madhya Pradesh, India – 452010.
As per the financials filed for FY 2022, the company reported a revenue of ₹44.05 Cr, a growth of 4% compared to the previous year. For the same year it recorded a net profit of ₹55.51 Lakh (net margin 1.3%) and EBITDA of ₹2.2 Cr (EBITDA margin 5%). Revenue has grown at a compounded annual rate (CAGR) of 10% over three years and 12% over five years.
The company has about 26 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Affine Formulations. As per MCA filings, the company has open charges of ₹13.39 Cr and satisfied charges of ₹8.81 Cr on record. Court records list 30 cases involving the company, including 2 filed by the company and 28 filed against it; 18 cases are pending.
Affine Formulations Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-HP-11-0002098). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website affineformulations.com.
Company details
CIN U24232MP2006PLC018755
Registration Number 018755
Incorporation Date 04 July 2006
ROC Gwalior
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2022
Date of Balance Sheet 31 March 2022
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-HP-11-0002098
CIN history
Affine Formulations has one previous CIN (Corporate Identification Number): U24232MP2006PTC018755. The current CIN is U24232MP2006PLC018755, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24232MP2006PLC018755 | Current |
| U24232MP2006PTC018755 | Previous |
Recognitions & Rankings of Affine Formulations
Contact details
Affine Formulations Limited's registered office is in Indore, Madhya Pradesh. Its website is affineformulations.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address28/10 Talwali Dewas Naka, Indore, Madhya Pradesh, India – 452010
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Affine Formulations Limited, buy the company report.
Comprehensive company report
Affine Formulations 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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Secure checkout · GST invoice included
Brands
Affine Formulations operates one associated brand: Affine Formulations. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Pharmaceutical manufacturing and contract services in India. | affineformulations.com |
Business activity
The main business activity of Affine Formulations is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Affine Formulations Limited, buy the company report.
Financials of Affine Formulations Limited
FY 2022 filings availableAffine Formulations Limited reported revenue of ₹44.05 Cr (up 4% YoY) for FY 2022.
Revenue · FY 2022
₹44.05 Cr ▲ 4%
Net profit · FY 2022
₹55.51 Lakh margin 1.3%
EBITDA · FY 2022
₹2.2 Cr margin 5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 4%
3 years · compounded
▲ 10%
5 years · compounded
▲ 12%
EBITDA CAGR growth
1 year
▼ 6%
3 years · compounded
▼ 3%
5 years · compounded
▼ 6%
Revenue has grown at a compounded annual rate (CAGR) of 12% over five years, including 4% growth in the latest year. EBITDA fell 6% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹44.05 Cr | ||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹2.2 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹55.51 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 5% | ||||
| Net Profit Margin | 1.3% | ||||
| 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 Affine Formulations Limited, buy the company report.
Board of directors of Affine Formulations Limited
Affine Formulations has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shailendra Biyani Also directs: SSGL Industries Limited, Agnyati Enterprises Private Limited | Director | 15 Apr 2008 | 18 Years 6 Months | Current |
| Pradhyumn Nyati | Director | 15 Apr 2008 | 18 Years 6 Months | Current |
| Vijay Kumar Nyati | Director | 04 Jul 2006 | 20 Years 3 Months | Current |
Peer comparison
Affine Formulations Limited is compared with the 6 companies closest to it by revenue in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Avantika Medex Private Limited | ₹44.37 Cr (FY 2025) | -14.0% | Ahmedabad, Gujarat, India | |||
| Lexicon Worldwide Limited | ₹44.19 Cr (FY 2024) | 37.0% | Solan Hp, Himachal Pradesh, India | |||
| Affine Formulations Limitedthis company | ₹44.05 Cr (FY 2022) | ₹55.51 Lakh | 1.3% | 4.0% | 26 | Indore, Madhya Pradesh, India |
| Quality Pharma Products Private Limited | ₹43.95 Cr (FY 2025) | 22.0% | Assam, India | |||
| Varahi Pharma Private Limited | ₹43.85 Cr (FY 2021) | 46.0% | Hyderabad, Telangana, India | |||
| Medibest Pharma Private Limited | ₹43.84 Cr (FY 2024) | 65.0% | Hosur, Tamil Nadu, India | |||
| Tristar Formulations Private Limited | ₹43.68 Cr (FY 2025) | -25.0% | Puducherry, India |
To see the full peer comparison of Affine Formulations Limited, buy the company report.
Auditor
Affine Formulations Limited is audited by V.K.LADHA &ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V.K.LADHA &ASSOCIATES | FY 2022 | 002301C |
Shareholding
The shareholding of Affine Formulations Limited is on record for 5 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 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Affine Formulations Limited, buy the company report.
Charges & borrowings
Open charges
₹13.39 Cr
Satisfied charges
₹8.81 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Sep 2018 | 100219357 | Axis Bank Limited | ₹13.39 Cr | Open | |
| 07 Dec 2006 | 10033474 | State Bank of India | ₹8.81 Cr | Satisfied |
To see the full charge records of Affine Formulations Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
Affine Formulations Limited has 30 court cases on record: 2 filed by Affine Formulations, 28 filed against it. 18 cases are pending and 12 are disposed.
Total cases
30
Filed by the company
2
Filed against the company
28
Pending
18
Disposed
12
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 27 | 27 | 18 |
| High courts | 3 | 1 | 0 |
Cases on record (5 of 30)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ludhiana, Punjab | Commercial suit | Filed against the company by Ms Iol Chemicals and Pharmaceuticals Limited | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Cholamandalam Investment and Finance Company Ltd | Pending |
| District court, New Delhi, Delhi | Cheque dishonour complaint | Filed against the company by Del Trade International Private Limited | Pending |
| District court, North West, Delhi | Cheque dishonour complaint | Filed against the company by M/S Clix Capital Services Pvt Ltd | Pending |
| District court, Hyderabad CCC, Telangana | Cheque dishonour complaint | Filed against the company by M/S. Godavari Drugs Ltd Rep by Mr. Srihari Gajjela | Pending |
To see the full case history of Affine Formulations 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
Affine Formulations Limited has 5 MSME Form 1 returns on record between 2018 and 2020, listing 216 overdue payments to 10 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 10)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Vyali International | |||
| Excellent Pharma | |||
| Rini Life Science Private Limited | |||
| Baroda Print Pack | |||
| Shiva International |
To see the full MSME payment records of Affine Formulations Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Affine Formulations Limited has a workforce of 26 employees on its EPFO records as of Feb 18, 2025, across 1 active EPFO establishment.
Employee count
26
Active EPFO establishments
1
Employee growth
-16.13%
GST
Affine Formulations has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 02AAGCA2291J1ZW | Himachal Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Affine Formulations Limited, buy the company report.
Recent activity
Affine Formulations Limited has 12 board changes on record since 2006: 3 appointments and 9 cessations. The latest: Anil Kumar Jain ceased to be CFO on 28 Mar 2024.
Ceased
Anil Kumar Jain ceased to be CFO.
AGM
Affine Formulations Limited last Annual general meeting of members was held on 30 Sep 2022 as per latest MCA records.
Filing
Affine Formulations Limited has filed its annual Financial statements for the year ended 31 Mar 2022 with Roc Gwalior.
Charges
A charge with Axis Bank Limited of Rs. 13.39 Cr registered on 26 Sep 2018 with Charge ID 100219357 was modified on 08 Feb 2022.
Ceased
Manish Nyati ceased to be Cfo(Kmp).
Charges
A charge registered on 07 Dec 2006 via Charge ID 10033474 with State Bank Of India was fully satisfied on 18 Jan 2019.
Ceased
Mahesh Jakhatia ceased to be Additional Director.
Charges
A charge with Axis Bank Limited amounted to Rs. 13.39 Cr with Charge ID 100219357 was registered on 26 Sep 2018.
Ceased
Amita Bhutda ceased to be Additional Director.
Ceased
Gautam Chand Dhing ceased to be Additional Director.
Ceased
Govind Das Neema ceased to be Additional Director.
Ceased
Pradhyumn Nyati ceased to be Director.
8 earlier events are in the company report.
Frequently asked questions
Affine Formulations is an active public limited company based in Indore, Madhya Pradesh, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 04 July 2006 (20+ years old) and is registered under CIN U24232MP2006PLC018755.
Affine Formulations has 3 current directors:
- Shailendra Biyani - Director
- Pradhyumn Nyati - Director
- Vijay Kumar Nyati - Director
The latest financial statements of Affine Formulations on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of Affine Formulations is 02AAGCA2291J1ZW, registered in Himachal Pradesh.
The CIN (Corporate Identification Number) of Affine Formulations is U24232MP2006PLC018755. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Affine Formulations has 30 court cases on record: 2 filed by the company and 28 filed against it. 18 are pending. Most are in the district courts.
Affine Formulations was incorporated on 04 July 2006, making it 20+ years old. It is registered with the Registrar of Companies, Gwalior.
The peers of Affine Formulations by revenue are Avantika Medex Private Limited, Lexicon Worldwide Limited, Quality Pharma Products Private Limited, Varahi Pharma Private Limited, Medibest Pharma Private Limited and 1 more, all in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Anil Kumar Jain ceased to be CFO on 28 Mar 2024. Manish Nyati ceased to be Cfo(Kmp) on 24 Nov 2021. Mahesh Jakhatia ceased to be Additional Director on 29 Sep 2018. Affine Formulations has 12 board changes on record in total.
Yes, Affine Formulations is registered as a small enterprise under Udyam registration (number: UDYAM-HP-11-0002098).
Affine Formulations has 5 MSME Form 1 returns on record between 2018 and 2020, listing 216 overdue payments to 10 micro and small suppliers. The latest return was filed on 20 Dec 2020.
Affine Formulations can be reached through the website affineformulations.com. Its registered office is in Indore, Madhya Pradesh, India.