About Aj Refinery Private Limited
Data last updated:
Aj Refinery Private Limited is a private limited company based in New Delhi, Delhi, India. It operates in the watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 24 April 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U74999DL2018PTC333029. Its GSTIN is 02AAQCA8299L1ZY (Himachal Pradesh).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1 Cr. It is led by directors Prabhat Choudhary and Goutam Rajendra Mehta.
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 Asset – 5A Aerocity Jw Marriot, Hotel Hospitality, New Delhi, Delhi, India – 110037.
As per the financials filed for FY 2025, the company reported a revenue of ₹4,741.75 Cr, a decline of 34% compared to the previous year. For the same year it recorded a net profit of ₹11.77 Cr (net margin 0.2%) and EBITDA of ₹23.05 Cr (EBITDA margin 0.5%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years.
The company is associated with 1 brand: AJ Refinery. As per MCA filings, the company has open charges of ₹51.9 Cr on record. Court records list 5 cases involving the company, including 1 filed by the company and 4 filed against it; 2 cases are pending.
For more details, the company can be reached via its website ajrefinery.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressAsset – 5A Aerocity Jw Marriot, Hotel Hospitality, New Delhi, Delhi, India – 110037
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
- 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
- One PDF report, delivered after checkout
Associated Brands with Aj Refinery Private Limited
Aj Refinery operates one associated brand: AJ Refinery. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Precious metals refining services in India. | ajrefinery.in |
Business Activity of Aj Refinery Private Limited
The main business activity of Aj Refinery is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Aj Refinery Private Limited FY 2025 filings available
Aj Refinery Private Limited reported revenue of ₹4,741.75 Cr (down 34% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Aj Refinery Private Limited
Revenue fell 34% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 7%. EBITDA rose 42% 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 of Aj Refinery Private Limited
| 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 | ₹23.05 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹11.77 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 of Aj Refinery Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.2% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Aj Refinery are in the company report.
Financial statements from FY 2019
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Aj Refinery Private Limited
Aj Refinery has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Prabhat Choudhary | Director | 24 Apr 2018 | 8 Years 5 Months | Current |
| Goutam Rajendra Mehta Also directs: Aries Refinery Private Limited | Director | 24 Apr 2018 | 8 Years 5 Months | Current |
Peer Comparison of Aj Refinery Private Limited
Aj Refinery Private Limited is compared with the companies closest to it by revenue in the Consumer Products industry (Watches and Jewellery Manufacturers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| MBMG Diamonds Private Limited | ₹5,020.28 Cr (FY 2025) | •••• | •••• | 38.0% | •••• | Kozhikode, Kerala, India |
| Sovereign Metals Limited | ₹4,986.8 Cr (FY 2024) | •••• | •••• | -21.0% | •••• | Ahmedabad, Gujarat, India |
| Aspect Bullion Refinery Private Limited | ₹4,899.88 Cr (FY 2025) | •••• | •••• | 94134.0% | •••• | Mumbai, Maharashtra, India |
| Mahendra Brothers Exports Private Limited | ₹4,858.82 Cr (FY 2025) | •••• | •••• | -8.0% | •••• | Mumbai, Maharashtra, India |
| Chemmanur Gold Palace International Limited | ₹4,796.12 Cr (FY 2024) | •••• | •••• | 32.0% | •••• | Kozhikode, Kerala, India |
| Aj Refinery Private Limited this company | ₹4,741.75 Cr (FY 2025) | •••• | •••• | -34.0% | •••• | New Delhi, Delhi, India |
| Caratlane Trading Private Limited | ₹4,229.64 Cr (FY 2025) | •••• | •••• | 36.0% | •••• | Chennai, Tamil Nadu, India |
| Chandukaka Saraf and Sons Private Limited | ₹4,194.12 Cr (FY 2024) | •••• | •••• | 18.0% | •••• | Baramati, Maharashtra, India |
| Dharmanandan Diamonds Private Limited | ₹4,145.21 Cr (FY 2025) | •••• | •••• | -20.0% | •••• | Mumbai, Maharashtra, India |
| Shreeji Ornaments Private Limited | ₹3,984.12 Cr (FY 2025) | •••• | •••• | 65.0% | •••• | Rajkot, Gujarat, India |
| A.R.Gold Private Limited | ₹3,707.45 Cr (FY 2025) | •••• | •••• | 79.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Aj Refinery by revenue in the Consumer Products industry (Watches and Jewellery Manufacturers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Aj Refinery Private Limited
Aj Refinery Private Limited is audited by M L KEJRIWAL & CO for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| M L KEJRIWAL & CO | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Aj Refinery Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Aj Refinery Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 06 May 2025 | Others | ₹1.9 Cr | Open |
| 24 Jun 2024 | Yes Bank Limited | ₹50 Cr | Open |
Total charge records: 2 View all charges
Legal Cases of Aj Refinery Private Limited
Aj Refinery Private Limited has 5 court cases on record: 1 filed by Aj Refinery, 4 filed against it. 2 cases are pending and 3 are disposed. Status as checked between 21 Sep 2026 and 28 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 4 | 1 |
| High courts | 1 | 0 | 1 |
Cases on record (4 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Agra, Uttar Pradesh | Criminal miscellaneous application | Filed against the company by Up State | Pending |
| High Court of Delhi | Writ petition | Filed by the company against Commissioner of Customs, Acc (Import) New Customs House, New Delhi & Ors | Pending |
| District court, Hamirpur, Himachal Pradesh | Court case (Motor Vehc Act) | Filed against the company by State of HP | Disposed |
| District court, Hamirpur, Himachal Pradesh | Court case (Motor Vehc Act) | Filed against the company by State of HP | Disposed |
Full case history
All 5 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Aj Refinery Private Limited
Employment history and EPFO contributions of people linked to Aj Refinery.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Aj Refinery Private Limited
Aj Refinery Private Limited has 4 board changes on record since 2018: 3 appointments and 1 cessation. The latest: Mothilal Jain ceased to be Director on 31 Mar 2022.
Credit Ratings, Litigation & Regulatory Alerts for Aj Refinery Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Aj Refinery Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Aj Refinery Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Aj Refinery Private Limited
Aj Refinery has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 02AAQCA8299L1ZY | Himachal Pradesh | Active | 04 Jan 2021 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Aj Refinery Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Aj Refinery Private Limited
Aj Refinery is an active private limited company based in New Delhi, Delhi, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 24 April 2018 (8+ years old) and is registered under CIN U74999DL2018PTC333029.
Aj Refinery reported revenue of ₹4,741.75 Cr for FY 2025 (down 34% YoY).
Aj Refinery has 2 current directors:
- Prabhat Choudhary - Director
- Goutam Rajendra Mehta - Director
Aj Refinery reported a net profit of ₹11.77 Cr (net margin 0.2%) and EBITDA of ₹23.05 Cr (EBITDA margin 0.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Aj Refinery is 7% over three years. In the latest year (FY 2025) revenue fell 34%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Aj Refinery is 02AAQCA8299L1ZY, registered in Himachal Pradesh.
The CIN (Corporate Identification Number) of Aj Refinery is U74999DL2018PTC333029. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Aj Refinery has 5 court cases on record: 1 filed by the company and 4 filed against it. 2 are pending. Most are in the district courts.
Aj Refinery was incorporated on 24 April 2018, making it 8+ years old. It is registered with the Registrar of Companies, Delhi.
The peers of Aj Refinery by revenue are MBMG Diamonds Private Limited, Sovereign Metals Limited, Aspect Bullion Refinery Private Limited, Mahendra Brothers Exports Private Limited, Chemmanur Gold Palace International Limited and 5 more, all in the Consumer Products industry (Watches and Jewellery Manufacturers).
Mothilal Jain ceased to be Director on 31 Mar 2022. Goutam Rajendra Mehta was appointed as Director on 24 Apr 2018. Mothilal Jain was appointed as Director on 24 Apr 2018. Aj Refinery has 4 board changes on record in total.