About Aircel Limited
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Aircel Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Global Communication Services Holdings Ltd. It operates in the telecom service providers segment of the telecommunications sector. It was incorporated on 20 December 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U32201MH1994PLC284030. Its GSTIN is 24AAACS4449J2Z9 (Gujarat). The company holds 10 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹20,000 Cr and a paid-up capital of ₹8,334.77 Cr. It was formerly known as Srinivas Cellcom Limited. It is led by directors including Kidambi Parthasarathy Varadharajan and Sandeep Vats.
Its last annual general meeting (AGM) was held on 26 July 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at Opus Centre 47 Central Road Opposite Tunga Paradise MIDC, Mumbai, Maharashtra, India – 400093.
As per the financials filed for FY 2017, the company reported a revenue of ₹6,319.78 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net loss of ₹4,822.06 Cr (net margin -76.3%) and EBITDA of ₹1,402.89 Cr (EBITDA margin 22.2%).
The company has about 15 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 1 brand: Aircel. As per MCA filings, the company has open charges of ₹25,510 Cr and satisfied charges of ₹72,842 Cr on record. Court records list 538 cases involving the company, including 252 filed by the company and 286 filed against it; 77 cases are pending. The company has 3 deals on record (2 funding rounds, 1 acquisition), with disclosed funding of ₹8,091.53 Cr; the latest was in April 2016. Its 8 peer companies in the Telecom industry (Telecom Service Providers), with the same principal business activity (wired, wireless or satellite telecommunication activities) are compared by revenue, 5 larger and 3 smaller; the largest is Vodafone Idea Limited with revenue of ₹44,592 Cr.
The current compliance status is marked as active non-compliant by the Registrar of Companies. For more details, the company can be reached via its website aircel.com.
Company details
CIN history
Aircel has one previous CIN (Corporate Identification Number): U32201TN1994PLC029608. The current CIN is U32201MH1994PLC284030, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U32201MH1994PLC284030 | Current |
| U32201TN1994PLC029608 | Previous |
Contact details
Aircel Limited's registered office is in Mumbai, Maharashtra. Its website is aircel.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOpus Centre 47 Central Road Opposite Tunga Paradise MIDC, Mumbai, Maharashtra, India – 400093
- IndustryTelecom, Telecom Service Providers
To see the full contact details of Aircel 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
Brands
Aircel operates one associated brand: Aircel. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Mobile telecom services are operated pan-India by Aircel. | aircel.com |
Business activity
The main business activity of Aircel is information and communication. In detail, this covers wired, wireless or satellite telecommunication activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J5 | Wired, wireless or satellite Telecommunication activities |
To see the full business activity and turnover split of Aircel Limited, buy the company report.
Financials of Aircel Limited
FY 2017 filings availableAircel Limited reported revenue of ₹6,319.78 Cr (down 1% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue fell 1% in the latest year. EBITDA fell 36% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | ₹6,319.78 Cr | ||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | ₹1,402.89 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | -₹4,822.06 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | 22.2% | ||
| Net Profit Margin | -76.3% | ||
| 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 Aircel Limited, buy the company report.
Board of directors of Aircel Limited
Aircel has 4 current directors and 33 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanjeev Jain | Additional Director | 10 Apr 2019 | 7 Years 6 Months | Current |
| Kidambi Parthasarathy Varadharajan Also directs: Dishnet Wireless Limited | Director | 03 Apr 2024 | 2 Years 6 Months | Current |
| Sandeep Vats | Director | 18 Feb 2018 | 8 Years 8 Months | Current |
| Prakash Radheshyam Mishra Also directs: Aircel Cellular Limited, Dishnet Wireless Limited, THG Nutrition (India) Private Limited and 3 more | Director | 18 Feb 2018 | 8 Years 8 Months | Current |
Peer comparison
Aircel Limited is compared with the 8 companies closest to it by revenue in the Telecom industry (Telecom Service Providers), with the same principal business activity (wired, wireless or satellite telecommunication activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vodafone Idea Limited | ₹44,592 Cr (FY 2025) | 4.0% | Gandhinagar, Gujarat, India | |||
| Vodafone India Limited | ₹35,127 Cr (FY 2018) | -19.0% | Mumbai, Maharashtra, India | |||
| Vodafone Mobile Services Limited | ₹33,211 Cr (FY 2018) | -17.0% | Mumbai, Maharashtra, India | |||
| Bharat Sanchar Nigam Limited | ₹23,446 Cr (FY 2025) | 10.0% | New Delhi, Delhi, India | |||
| Tata Communications Limited | ₹21,049 Cr (FY 2024) | 16.0% | Mumbai, Maharashtra, India | |||
| Aircel Limitedthis company | ₹6,319.78 Cr (FY 2017) | -₹4,822.06 Cr | -76.3% | -1.0% | 15 | Mumbai, Maharashtra, India |
| Telenor (India) Communications Private Limited | ₹4,794.6 Cr (FY 2017) | 5.0% | New Delhi, Delhi, India | |||
| Tata Teleservices Limited | ₹3,709.62 Cr (FY 2025) | 11.0% | New Delhi, Delhi, India | |||
| Mahanagar Telephone Nigam Limited | ₹1,378.52 Cr (FY 2025) | 0.0% | Lodhi Road, Delhi, India |
To see the full peer comparison of Aircel Limited, buy the company report.
Auditor
Aircel Limited is audited by B S R and Associates LLP for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R and Associates LLP | FY 2017 | 116231W/W100024 |
Shareholding
The shareholding of Aircel Limited is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Aircel Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Apr 2014 | 10491062 | Sbicap Trustee Company Limited | ₹4,015.33 Cr | Open | |
| 26 Apr 2014 | 10493557 | Others | ₹17,479 Cr | Open | |
| 12 Jul 2011 | 10295543 | Sbicap Trustee Company Limited | ₹543.16 Cr | Open | |
| 29 Apr 2011 | 10286407 | Sbicap Trustee Company Limited | ₹3,472.17 Cr | Open | |
| 25 Feb 2014 | 10480058 | Sbicap Trustee Company Limited | ₹13,729 Cr | Satisfied |
To see the full charge records of Aircel Limited, buy the company report.
Total charge records: 139 View all charges
Deals & funding
Aircel Limited has 3 deals on record (2 funding rounds, 1 acquisition), with disclosed funding of ₹8,091.53 Cr; the latest was in April 2016.
Deals on record (1 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2016 | Acquisition | ₹3,490.93 Cr | Buyer: Bharti Airtel Limited , Bharti Hexacom Limited Seller: Aircel Limited , Dishnet Wireless Limited , Aircel Cellular Limited |
To see the full deal history of Aircel Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Aircel Limited has 538 court cases on record: 252 filed by Aircel, 286 filed against it. 77 cases are pending and 461 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 261 | 96 | 31 |
| District courts | 240 | 163 | 27 |
| Supreme Court | 22 | 12 | 11 |
| NCLAT | 14 | 14 | 8 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 538)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Civil miscellaneous application | Filed against the company by GTL Infrastructure Limited | Pending |
| Madras High Court | Civil miscellaneous application | Filed against the company by GTL Infrastructure Limited | Disposed |
| NCLAT, Company Appeal(AT)(Ins) | Insolvency matter | Filed against the company by Uv Asset Reconstruction Company Limited & Anr. and 1 other | Disposed |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Uv Asset Reconstruction Company Limited & Anr. and 1 other | Disposed |
| District court, Pune, Maharashtra | Criminal miscellaneous application | Filed by the company against Unknown | Disposed |
To see the full case history of Aircel 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
Aircel Limited was last rated by Care on 13 Aug 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 13 Aug 2026 |
To see the full credit ratings and regulatory alerts of Aircel Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Aircel Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Aircel has 3 subsidiary companies and 1 associated company. This group structure data is as of FY 2017. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Aircel Smart Money Limited | U67100MH2012PLC283932 | |
| Aircel Cellular Limited | U74999MH1992PLC284457 | |
| Dishnet Wireless Limited | U74999MH1998PLC283931 |
To see the full group structure of Aircel Limited, buy the company report.
Employees & EPFO
Aircel Limited has a workforce of 15 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
GST
Aircel has 10 GST registrations: 1 active and 9 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACS4449J2Z9 | Gujarat | Active | 26 Jul 2017 |
To see the full GST registrations and return filing status of Aircel Limited, buy the company report.
Recent activity
Aircel Limited has 34 board changes on record since 2007: 4 appointments and 30 cessations. The latest: Kidambi Parthasarathy Varadharajan was appointed as Director on 03 Apr 2024.
353 earlier events are in the company report.
News
Frequently asked questions
Aircel is an active public limited company based in Mumbai, Maharashtra, India. The company works in telecom service providers, within the telecom industry. It was incorporated on 20 December 1994 (32+ years old) and is registered under CIN U32201MH1994PLC284030.
Aircel has 4 current directors:
- Sanjeev Jain - Additional Director
- Kidambi Parthasarathy Varadharajan - Director
- Sandeep Vats - Director
- Prakash Radheshyam Mishra - Director
The latest financial statements of Aircel on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 26 July 2017. Year-wise statements from 2015 are in the company report.
The GSTIN of Aircel is 24AAACS4449J2Z9, registered in Gujarat. The company has 10 GST registrations in all, of which 1 is active and 9 are cancelled or inactive.
The CIN (Corporate Identification Number) of Aircel is U32201MH1994PLC284030. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Aircel has 538 court cases on record: 252 filed by the company and 286 filed against it. 77 are pending. Most are in the high courts.
Aircel was incorporated on 20 December 1994, making it 32+ years old. It is registered with the Registrar of Companies, Mumbai.
Aircel has 3 deals on record (2 funding rounds, 1 acquisition), with disclosed funding of ₹8,091.53 Cr; the latest was in April 2016.
The peers of Aircel by revenue are Vodafone Idea Limited, Vodafone India Limited, Vodafone Mobile Services Limited, Bharat Sanchar Nigam Limited, Tata Communications Limited and 3 more, all in the Telecom industry (Telecom Service Providers), with the same principal business activity (wired, wireless or satellite telecommunication activities).
Kidambi Parthasarathy Varadharajan was appointed as Director on 03 Apr 2024. Prakash Radheshyam Mishra ceased to be Director on 09 Jun 2020. Sandeep Vats ceased to be Director on 09 Jun 2020. Aircel has 34 board changes on record in total.
Aircel can be reached through the website aircel.com. Its registered office is in Mumbai, Maharashtra, India.