Afg Combustion Private Limited

Afg Combustion Private Limited - machinery and equipment in Dist-Mehsana, Gujarat, India. FY 2026 financials & compliance.
CIN U24110GJ1984PTC006875 Incorporated 07 April 1984 ROC Ahmedabad HQ Dist-Mehsana, Gujarat, India
Active Private Limited Company machinery and equipment MSME · Medium
Data last updated
Revenue · FY 2025
₹284.18 Cr
▲ 13% YoY
Net profit · FY 2025
₹19.89 Cr
Net margin 7%
EBITDA · FY 2025
₹42.79 Cr
EBITDA margin 15.1%
Authorised capital
₹10 Cr
Registered with MCA
Paid-up capital
₹8.53 Cr
Issued & subscribed
Open charges
₹265.26 Cr
Satisfied ₹72.59 Cr
Company age
42 yrs
Est. 1984
Employees · EPFO
202
Provident fund records

About Afg Combustion Private Limited

Data last updated:

Afg Combustion Private Limited is a private limited company based in Dist-Mehsana, Gujarat, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 07 April 1984 and has been in existence for over 42 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24110GJ1984PTC006875. Its GSTIN is 24AACCA2737M1ZP (Gujarat). The company holds 19 GST registrations, of which 8 are active.

The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹8.53 Cr. It was formerly known as Airoil Flaregas (India) Private Limited and Airoil Flaregas Private Limited. It is led by directors including Mitesh Mahendra Sanghavi (Whole-Time Director) and Gautam Hasmukh Sheth.

Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Survey No 788 Opp Torrentlaboratories Ltd Kalol Mehsana Highway Indrad, Dist – Mehsana, Gujarat, India – 383341.

As per the financials filed for FY 2025, the company reported a revenue of ₹284.18 Cr, a growth of 13% compared to the previous year. For the same year it recorded a net profit of ₹19.89 Cr (net margin 7%) and EBITDA of ₹42.79 Cr (EBITDA margin 15.1%). Revenue has grown at a compounded annual rate (CAGR) of 24% over three years and 25% over five years.

The company has about 202 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: AFG Combustion. As per MCA filings, the company has open charges of ₹265.26 Cr and satisfied charges of ₹72.59 Cr on record. Court records list 20 cases involving the company, including 12 filed by the company and 8 filed against it; 3 cases are pending. The company has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹1.02 Cr; the latest was in August 2024. Its 3 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 2 larger and 1 smaller; the largest is Wago Private Limited with revenue of ₹294.88 Cr. The company has 15 MSME Form 1 returns on record between 2019 and 2023, listing 1,179 overdue payments to 86 micro and small suppliers.

Afg Combustion Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-14-0001744). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website airoilflaregas.com.

Company details

CIN U24110GJ1984PTC006875
Registration Number 006875
Incorporation Date 07 April 1984
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-14-0001744

Name history

Afg Combustion has undergone 2 name changes throughout its history. The company was previously known as Airoil Flaregas (India) Private Limited, and Airoil Flaregas Private Limited. The current legal name is Afg Combustion Private Limited.

Company NameStatus
Afg Combustion Private LimitedCurrent
Airoil Flaregas (India) Private LimitedPrevious
Airoil Flaregas Private LimitedPrevious
Key People
Mitesh Mahendra Sanghavi Whole-Time Director Gautam Hasmukh Sheth Director Nigel Andrade Director

Recognitions & Rankings of Afg Combustion

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-GJ-14-0001744

Contact details

Afg Combustion Private Limited's registered office is in Dist-Mehsana, Gujarat. Its website is airoilflaregas.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    airoilflaregas.com
  • Registered Address
    Survey No 788 Opp Torrentlaboratories Ltd Kalol Mehsana Highway Indrad, Dist – Mehsana, Gujarat, India – 383341
  • Industry
    Machinery and Equipment, Industrial Machinery Manufacturing

To see the full contact details of Afg Combustion Private Limited, buy the company report.

Comprehensive company report
Afg Combustion 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

Brands

Afg Combustion operates one associated brand: AFG Combustion. Each brand links to its own profile.

BrandDescriptionWebsite
AFG Combustion
Provision of flares and combustion equipment for energy and chemical industries.airoilflaregas.com

Business activity

The main business activity of Afg Combustion is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment

To see the full business activity and turnover split of Afg Combustion Private Limited, buy the company report.

Financials of Afg Combustion Private Limited

FY 2024 filings available

Afg Combustion Private Limited reported revenue of ₹284.18 Cr (up 13% YoY) for FY 2025.

Revenue · FY 2025
₹284.18 Cr ▲ 13%
Net profit · FY 2025
₹19.89 Cr margin 7%
EBITDA · FY 2025
₹42.79 Cr margin 15.1%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 13%
3 years · compounded
▲ 24%
5 years · compounded
▲ 25%
EBITDA CAGR growth
1 year
▲ 51%
3 years · compounded
▲ 33%
5 years · compounded
▲ 30%

Revenue has grown at a compounded annual rate (CAGR) of 25% over five years, including 13% growth in the latest year. EBITDA rose 51% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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₹42.79 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹19.89 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin15.1%
Net Profit Margin7%
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 Afg Combustion Private Limited, buy the company report.

Board of directors of Afg Combustion Private Limited

Afg Combustion has 4 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Gautam Hasmukh Sheth
Also directs: G Sheth Realtors LLP, HCS Realtors LLP, Koerting Engineering Private Limited and 5 more
Director01 Sep 199531 Years 2 MonthsCurrent
Nigel Andrade
Also directs: Koerting Engineering Private Limited, H S Equipment Pvt Ltd, Horizon Polymer Engineering Private Limited and 2 more
Director06 Feb 201412 Years 8 MonthsCurrent
Damji Champsey Chheda
Also directs: TLT Engineering India Pvt Ltd
Director29 Sep 199531 Years 1 MonthsCurrent
Mitesh Mahendra Sanghavi
Also directs: G Sheth Realtors LLP, H S Equipment Pvt Ltd, Horizon Polymer Engineering Private Limited and 5 more
Whole-Time Director21 Mar 201412 Years 7 MonthsCurrent
View all directors

Peer comparison

Afg Combustion Private Limited is compared with the 3 companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Wago Private Limited₹294.88 Cr (FY 2025)15.0%New Delhi, Delhi, India
Boldrocchi India Private Limited₹289.33 Cr (FY 2025)46.0%Sriperumbur, Tamil Nadu, India
Afg Combustion Private Limitedthis company₹284.18 Cr (FY 2025)₹19.89 Cr7%13.0%202Dist-Mehsana, Gujarat, India
Force Mtu Power Systems Private Limited₹274.35 Cr (FY 2025)1.0%Pune, Maharashtra, India

To see the full peer comparison of Afg Combustion Private Limited, buy the company report.

Auditor

Afg Combustion Private Limited is audited by S. P. JAIN & ASSOCIATES for the financial year 2024.

Auditor firmFinancial yearFirm registration number
S. P. JAIN & ASSOCIATESFY 2024103969W

Shareholding

The shareholding of Afg Combustion Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2024FY 2023FY 2022FY 2021FY 2020
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Afg Combustion Private Limited, buy the company report.

Charges & borrowings

Open charges
₹265.26 Cr
Satisfied charges
₹72.59 Cr
Breakdown by lending institutions
Canara Bank₹265.00 Cr
Axis Bank Limited₹0.26 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
12 Dec 2023100840419Canara Bank₹65 CrOpen
09 Feb 2023100681261Axis Bank Limited₹26.44 LakhOpen
31 May 200480011015Canara Bank₹200 CrOpen
17 Dec 2020100405034Hdfc Bank Limited₹43.5 LakhSatisfied
18 Jul 2020100356866Canara Bank₹13 LakhSatisfied

To see the full charge records of Afg Combustion Private Limited, buy the company report.

Total charge records: 14 View all charges

Deals & funding

Afg Combustion Private Limited has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹1.02 Cr; the latest was in August 2024.

Total deals
10
Secondary share transfers
9
Funding round
1
Disclosed funding
₹1.02 Cr

Deals on record (5 of 10)

WhenDealAmountParties
Aug 2024Secondary share transferUndisclosedBuyer: 2 individuals
Seller: an individual
Apr 2024Secondary share transferUndisclosedBuyer: 4 individuals
Seller: 4 individuals
Mar 2016Secondary share transferUndisclosedBuyer: 2 individuals
Seller: 2 individuals
Feb 2016Secondary share transferUndisclosedBuyer: an individual
Seller: an individual
Dec 2014Secondary share transferUndisclosedBuyer: Andrade Holdings Private Limited
Seller: 2 individuals

To see the full deal history of Afg Combustion Private Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Afg Combustion Private Limited was last rated by Crisil on 30 Sep 2020.

Rating agencyRated onRating
Crisil30 Sep 2020

To see the full credit ratings and regulatory alerts of Afg Combustion Private Limited, buy the company report.

MSME payment delays

Afg Combustion Private Limited has 15 MSME Form 1 returns on record between 2019 and 2023, listing 1,179 overdue payments to 86 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 86)

SupplierAmount dueDue sinceReported on
an individual supplier
an individual supplier
Safe Lifters Private Limited
an individual supplier
an individual supplier

To see the full MSME payment records of Afg Combustion Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Afg Combustion Private Limited has a workforce of 202 employees on its EPFO records as of Mar 24, 2025, across 1 active EPFO establishment.

Employee count
202
Active EPFO establishments
1
Employee growth
0.5%

GST

Afg Combustion has 19 GST registrations: 8 active and 11 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
19
Active
8
Cancelled / inactive
11
GSTINStateStatusRegistered on
24AACCA2737M1ZPGujaratActive01 Jul 2017
27AACCA2737M1ZJMaharashtraActive01 Jul 2017
37AACCA2737M1ZIAndhra PradeshActive01 Jul 2017
07AACCA2737M2ZKDelhiActive23 May 2019

To see the full GST registrations and return filing status of Afg Combustion Private Limited, buy the company report.

Recent activity

Afg Combustion Private Limited has 13 board changes on record since 1995: 4 appointments and 9 cessations. The latest: Damji Champsey Chheda ceased to be Director on 01 Apr 2019.

Charges
A charge registered on 14 Oct 2017 via Charge ID 100135748 with Others was fully satisfied on 03 Jul 2025.
Charges
A charge registered on 10 Dec 2018 via Charge ID 100226979 with Canara Bank was fully satisfied on 30 Apr 2025.
Charges
A charge registered on 17 Dec 2020 via Charge ID 100405034 with Hdfc Bank Limited was fully satisfied on 07 Dec 2024.
AGM
Afg Combustion Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Afg Combustion Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ahmedabad.
Charges
A charge with Canara Bank amounted to Rs. 65.00 Cr with Charge ID 100840419 was registered on 12 Dec 2023.
Charges
A charge registered on 23 Jan 2018 via Charge ID 100158829 with Others was fully satisfied on 05 Aug 2023.
Charges
A charge registered on 18 Jul 2020 via Charge ID 100356866 with Canara Bank was fully satisfied on 27 Jul 2023.
Charges
A charge with Canara Bank of Rs. 200.00 Cr registered on 31 May 2004 with Charge ID 80011015 was modified on 12 Jun 2023.
Charges
A charge registered on 21 Jul 2018 via Charge ID 100195920 with Others was fully satisfied on 24 Feb 2023.
Charges
A charge with Axis Bank Limited amounted to Rs. 0.26 Cr with Charge ID 100681261 was registered on 09 Feb 2023.
Charges
A charge registered on 22 Dec 2006 via Charge ID 10030895 with Others was fully satisfied on 14 May 2021.

33 earlier events are in the company report.

Frequently asked questions

Afg Combustion is an active private limited company based in Dist-Mehsana, Gujarat, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 07 April 1984 (42+ years old) and is registered under CIN U24110GJ1984PTC006875.

Afg Combustion has 4 current directors:

The latest financial statements of Afg Combustion on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.

The GSTIN of Afg Combustion is 24AACCA2737M1ZP, registered in Gujarat. The company has 19 GST registrations in all, of which 8 are active and 11 are cancelled or inactive. Other active GSTINs include 27AACCA2737M1ZJ (Maharashtra), 37AACCA2737M1ZI (Andhra Pradesh), 07AACCA2737M2ZK (Delhi).

The CIN (Corporate Identification Number) of Afg Combustion is U24110GJ1984PTC006875. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Afg Combustion has 20 court cases on record: 12 filed by the company and 8 filed against it. 3 are pending. Most are in the district courts.

Afg Combustion was incorporated on 07 April 1984, making it 42+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Afg Combustion has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹1.02 Cr; the latest was in August 2024.

The peers of Afg Combustion by revenue are Wago Private Limited, Boldrocchi India Private Limited, Force Mtu Power Systems Private Limited, all in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).

Damji Champsey Chheda ceased to be Director on 01 Apr 2019. Mitesh Mahendra Sanghavi ceased to be Director on 01 Apr 2019. Hasmukh Chinubhai Sheth ceased to be Managing Director on 31 Mar 2019. Afg Combustion has 13 board changes on record in total.

Yes, Afg Combustion is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-14-0001744).

Afg Combustion has 15 MSME Form 1 returns on record between 2019 and 2023, listing 1,179 overdue payments to 86 micro and small suppliers. The latest return was filed on 06 Dec 2023.