About Ajmera Associates Limited
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Ajmera Associates Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the diversified financial services segment of the financial services sector. It was incorporated on 11 December 2001 and has been in existence for over 25 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67120MH2001PLC134203. Its GSTIN is 27AADCA7062J1ZK (Maharashtra).
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹6.11 Cr. It was formerly known as Ajmera Associates Private Limited. It is led by directors including Manish Kishore Ajmera (Managing Director) and Ashish Kishor Ajmera.
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 Ajmera House 4th Floor Pathakwadi, Mumbai, Maharashtra, India – 400002.
As per the financials filed for FY 2025, the company reported a revenue of ₹41.05 Cr, a growth of 66% compared to the previous year. For the same year it recorded a net profit of ₹10.06 Cr (net margin 24.5%) and EBITDA of ₹16.45 Cr (EBITDA margin 40.1%). Revenue has grown at a compounded annual rate (CAGR) of 60% over three years and 61% over five years.
Its group structure includes 1 subsidiary.
The company is associated with 2 brands: Ajmera Group of Companies and Ajmera Group. As per MCA filings, the company has open charges of ₹256.05 Cr and satisfied charges of ₹17.5 Cr on record. Court records list 11 cases involving the company, including 6 filed by the company and 5 filed against it; 1 case is 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 ajmera.co.in.
Company details
CIN history
Ajmera Associates has one previous CIN (Corporate Identification Number): U67120MH2001PTC134203. The current CIN is U67120MH2001PLC134203, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67120MH2001PLC134203 | Current |
| U67120MH2001PTC134203 | Previous |
Contact details
Ajmera Associates Limited's registered office is in Mumbai, Maharashtra. Its website is ajmera.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAjmera House 4th Floor Pathakwadi, Mumbai, Maharashtra, India – 400002
- IndustryFinancial Services, Diversified Financial Services, Brokerage & Trading Services
To see the full contact details of Ajmera Associates 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
Ajmera Associates operates two associated brands: Ajmera Group of Companies and Ajmera Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Financial brokerage services including stock trading and investment advisory in India. | ajmeraxchange.co.in | |
| Financial services, real estate development, pharmaceutical supplies, and hospitality operations in India. | ajmera.co.in |
Business activity
The main business activity of Ajmera Associates is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K7 | Financial Advisory, brokerage and Consultancy Services |
To see the full business activity and turnover split of Ajmera Associates Limited, buy the company report.
Financials of Ajmera Associates Limited
FY 2025 filings availableAjmera Associates Limited reported revenue of ₹41.05 Cr (up 66% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 61% over five years, including 66% growth in the latest year. EBITDA rose 181% 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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| EBITDA | ₹16.45 Cr | ||||
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| Net Profit (PAT) | ₹10.06 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 40.1% | ||||
| Net Profit Margin | 24.5% | ||||
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To see the full financial statements and ratios of Ajmera Associates Limited, buy the company report.
Board of directors of Ajmera Associates Limited
Ajmera Associates has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashish Kishor Ajmera Also directs: Riviera Resorts LLP, Ajmera Iconic Private Limited, Ajmera X-Change (Ifsc) Private Limited and 2 more | Director | 01 Apr 2008 | 18 Years 6 Months | Current |
| Divyam Jiten Ajmera | Director | 02 Feb 2023 | 3 Years 8 Months | Current |
| Manish Kishore Ajmera | Managing Director | 11 Dec 2001 | 24 Years 10 Months | Current |
Auditor
Ajmera Associates Limited is audited by S. S. Rathi & Co for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. S. Rathi & Co | FY 2024 | 0108726W |
Shareholding
The shareholding of Ajmera Associates 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 category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ajmera Associates Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 17 May 2025 | 101108150 | Others | ₹20 Cr | Open | |
| 13 Mar 2024 | 100887082 | Bank of India | ₹13 Cr | Open | |
| 11 Jan 2024 | 100859003 | Others | ₹75 Cr | Open | |
| 23 May 2023 | 100727217 | Others | ₹13 Cr | Open | |
| 27 Oct 2022 | 100642315 | Axis Bank Limited | ₹45.05 Cr | Open |
To see the full charge records of Ajmera Associates Limited, buy the company report.
Total charge records: 9 View all charges
Legal cases
Ajmera Associates Limited has 11 court cases on record: 6 filed by Ajmera Associates, 5 filed against it. 1 case is pending and 10 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 2 | 1 |
| District courts | 5 | 3 | 0 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Arbitration matter | Filed by the company against Vraj Commodities Pvt. Ltd. and 3 Ors. | Disposed |
| High Court, MAHARASHTRA | Court case (EXA) | Filed by the company against an individual | Pending |
| High Court | Tax appeal | Filed against the company by PR Commissioner of Income Tax 4 | Disposed |
| High Court | Interim or miscellaneous application | Filed against the company by PR Commissioner of Income Tax 4 | Disposed |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed by the company against an individual | Disposed |
To see the full case history of Ajmera Associates 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
Ajmera Associates Limited was last rated by Brickwork on 21 Jun 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Brickwork | 21 Jun 2021 |
To see the full credit ratings and regulatory alerts of Ajmera Associates Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Ajmera Associates Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Ajmera Associates has 1 subsidiary company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|
GST
Ajmera Associates has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCA7062J1ZK | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ajmera Associates Limited, buy the company report.
Recent activity
Ajmera Associates Limited has 7 board changes on record since 2001: 3 appointments and 4 cessations. The latest: Divyam Jiten Ajmera was appointed as Director on 02 Feb 2023.
13 earlier events are in the company report.
Frequently asked questions
Ajmera Associates is an active public limited company based in Mumbai, Maharashtra, India. The company works in diversified financial services, within the financial services industry. It was incorporated on 11 December 2001 (25+ years old) and is registered under CIN U67120MH2001PLC134203.
Ajmera Associates has 3 current directors:
- Manish Kishore Ajmera - Managing Director
- Ashish Kishor Ajmera - Director
- Divyam Jiten Ajmera - Director
The latest financial statements of Ajmera Associates 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 Ajmera Associates is 27AADCA7062J1ZK, registered in Maharashtra.
The CIN (Corporate Identification Number) of Ajmera Associates is U67120MH2001PLC134203. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ajmera Associates has 11 court cases on record: 6 filed by the company and 5 filed against it. 1 is pending. Most are in the high courts.
Ajmera Associates was incorporated on 11 December 2001, making it 25+ years old. It is registered with the Registrar of Companies, Mumbai.
Divyam Jiten Ajmera was appointed as Director on 02 Feb 2023. Charmi Jasmin Ajmera ceased to be Additional Director on 28 Sep 2017. Jasmin Kishor Ajmera ceased to be Director on 28 Apr 2017. Ajmera Associates has 7 board changes on record in total.
Ajmera Associates can be reached through the website ajmera.co.in. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Ajmera Associates is at Ajmera House 4th Floor Pathakwadi, Mumbai, Maharashtra, India – 400002.