MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-GJ-24-0005095
Altop Industries Ltd - machinery and equipment in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹10.07 Cr
▲ 15% YoY
Net profit · FY 2025
₹19.21 Lakh
Net margin 1.9%
EBITDA · FY 2025
₹53 Lakh
EBITDA margin 5.3%
Authorised capital
₹1 Cr
Registered with MCA
Paid-up capital
₹50.04 Lakh
Issued & subscribed
Open charges
₹1 Cr
Satisfied ₹16.71 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
51
Provident fund records
About Altop Industries Ltd
Data last updated:
Altop Industries Ltd is a public limited company based in Vadodara, Gujarat, India. It operates in the industrial testing and measurement equipment segment of the machinery and industrial equipment sector. It was incorporated on 19 January 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U91110GJ1993PLC018831. Its GSTIN is 24AABCA9387N1Z4 (Gujarat).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹50.04 Lakh. It is led by directors including Subhash Manubhai Nagarsheth (Whole-Time Director) and Rajesh Kalidas Shah.
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 392 G I D C Makarpura, Vadodara, Gujarat, India – 390010.
As per the financials filed for FY 2025, the company reported a revenue of ₹10.07 Cr, a growth of 15% compared to the previous year. For the same year it recorded a net profit of ₹19.21 Lakh (net margin 1.9%) and EBITDA of ₹53 Lakh (EBITDA margin 5.3%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 1% over five years.
The company has about 51 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Altop Industries. As per MCA filings, the company has open charges of ₹1 Cr and satisfied charges of ₹16.71 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company.
Altop Industries Ltd is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0005095). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website altopindustries.com.
Company details
CIN U91110GJ1993PLC018831
Registration Number 018831
Incorporation Date 19 January 1993
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-GJ-24-0005095
Key People
Subhash Manubhai Nagarsheth Whole-Time Director Rajesh Kalidas Shah Director Madhukar Ratilal Patel Director Recognitions & Rankings of Altop Industries
Contact details
Altop Industries Ltd's registered office is in Vadodara, Gujarat. Its website is altopindustries.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address392 G I D C Makarpura, Vadodara, Gujarat, India – 390010
- IndustryMachinery and Equipment, Industrial Testing & Measurement Equipment
To see the full contact details of Altop Industries Ltd, buy the company report.
Comprehensive company report
Altop Industries Ltd - 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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Brands
Altop Industries operates one associated brand: Altop Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturing of temperature, pressure, and calibration instruments is conducted by Altop Industries for process industries. | altopindustries.com |
Business activity
The main business activities of Altop Industries are manufacturing and professional, scientific and technical. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and architecture, engineering activities, technical testing and analysis activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| M | Professional, Scientific and Technical | M4 | Architecture, engineering activities, technical testing and analysis activities |
To see the full business activity and turnover split of Altop Industries Ltd, buy the company report.
Financials of Altop Industries Ltd
FY 2025 filings availableAltop Industries Ltd reported revenue of ₹10.07 Cr (up 15% YoY) for FY 2025.
Revenue · FY 2025
₹10.07 Cr ▲ 15%
Net profit · FY 2025
₹19.21 Lakh margin 1.9%
EBITDA · FY 2025
₹53 Lakh margin 5.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 15%
3 years · compounded
▲ 7%
5 years · compounded
▲ 1%
EBITDA CAGR growth
1 year
▼ 21%
3 years · compounded
▼ 4%
5 years · compounded
▼ 2%
Revenue has grown at a compounded annual rate (CAGR) of 1% over five years, including 15% growth in the latest year. EBITDA fell 21% 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 |
|---|---|---|---|---|---|
| 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 | ₹53 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹19.21 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 5.3% | ||||
| Net Profit Margin | 1.9% | ||||
| 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 Altop Industries Ltd, buy the company report.
Board of directors of Altop Industries Ltd
Altop Industries has 5 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajesh Kalidas Shah | Director | 30 Nov 2019 | 6 Years 11 Months | Current |
| Madhukar Ratilal Patel | Director | 30 Nov 2019 | 6 Years 11 Months | Current |
| Alka Subhashchandra Nagarsheth | Director | 10 Mar 2024 | 2 Years 7 Months | Current |
| Subhash Manubhai Nagarsheth | Whole-Time Director | 19 Jan 1993 | 33 Years 9 Months | Current |
| Cyrus Rohinton Panthaki Also directs: Abtus Global Private Limited | Director | 06 Jun 2025 | 1 Years 4 Months | Current |
Peer comparison
Altop Industries Ltd is compared with the 3 companies closest to it by revenue in the Machinery and Equipment industry (Testing Equipment), 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.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Yantrashilpa Technologies Private Limited | ₹10.22 Cr (FY 2025) | 19.0% | Pune, Maharashtra, India | |||
| LCS Controls Private Limited | ₹10.2 Cr (FY 2025) | 1.0% | Nehrunagar, Chennai-600041, Tamil Nadu, India | |||
| Altop Industries Ltdthis company | ₹10.07 Cr (FY 2025) | ₹19.21 Lakh | 1.9% | 15.0% | 51 | Vadodara, Gujarat, India |
| Eureka Design India Private Limited | ₹10.03 Cr (FY 2024) | 55.0% | Manesar, Haryana, India |
To see the full peer comparison of Altop Industries Ltd, buy the company report.
Auditor
Altop Industries Ltd is audited by Karm & Co for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Karm & Co | FY 2024 | 105237W |
Shareholding
The shareholding of Altop Industries Ltd 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 Altop Industries Ltd, buy the company report.
Charges & borrowings
Open charges
₹1 Cr
Satisfied charges
₹16.71 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Mar 2025 | 101067372 | Others | ₹1 Cr | Open | |
| 12 May 2021 | 100444373 | Others | ₹2 Cr | Satisfied | |
| 30 Jul 2016 | 100098636 | Hdfc Bank Limited | ₹10 Lakh | Satisfied | |
| 23 Mar 2011 | 10277984 | Bank of Baroda | ₹2.4 Cr | Satisfied | |
| 16 Feb 2011 | 10277983 | Bank of Baroda | ₹2.4 Cr | Satisfied |
To see the full charge records of Altop Industries Ltd, buy the company report.
Total charge records: 8 View all charges
Legal cases
Altop Industries Ltd has 5 court cases on record: 5 filed by Altop Industries. All cases are disposed.
Total cases
5
Filed by the company
5
Disposed
5
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 0 | 0 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Court case (MCA) | Filed by the company against Royal Energy Limited and 1 other | Disposed |
| District court, Vadodara, Gujarat | Civil suit | Filed by the company against M/S. Royal Energy Limited Oth | Disposed |
| District court, Vadodara, Gujarat | Court case (RCA) | Filed by the company against Dena Bank | Disposed |
| District court, Vadodara, Gujarat | Civil suit | Filed by the company against Dena Bank | Disposed |
| District court, Vadodara, Gujarat | Criminal complaint | Filed by the company against Neptune Textiles Mills Ltd., and 2 others | Disposed |
To see the full case history of Altop Industries Ltd, 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
Altop Industries Ltd has 11 MSME Form 1 returns on record between 2018 and 2024, listing 114 overdue payments to 12 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 12)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Kaysons Techno Equipments Pvt Ltd | |||
| Pantech Instruments | |||
| an individual supplier | |||
| an individual supplier | |||
| Parshvi Technology (India) Private Limited |
To see the full MSME payment records of Altop Industries Ltd, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Altop Industries Ltd has a workforce of 51 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
Employee count
51
Active EPFO establishments
1
Employee growth
-1.92%
GST
Altop Industries has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCA9387N1Z4 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Altop Industries Ltd, buy the company report.
Recent activity
Altop Industries Ltd has 15 board changes on record since 1993: 5 appointments and 10 cessations. The latest: Cyrus Rohinton Panthaki ceased to be Additional Director on 29 Sep 2025.
AGM
Altop Industries Ltd last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Cyrus Rohinton Panthaki ceased to be Additional Director.
Appointed
Cyrus Rohinton Panthaki was appointed as Director.
Filing
Altop Industries Ltd has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge with Others amounted to Rs. 1.00 Cr with Charge ID 101067372 was registered on 07 Mar 2025.
Charges
A charge registered on 30 Jul 2016 via Charge ID 100098636 with Hdfc Bank Limited was fully satisfied on 20 Mar 2024.
Appointed
Alka Subhashchandra Nagarsheth was appointed as Director.
Charges
A charge registered on 12 May 2021 via Charge ID 100444373 with Others was fully satisfied on 09 Sep 2022.
Charges
A charge with Others amounted to Rs. 2.00 Cr with Charge ID 100444373 was registered on 12 May 2021.
Charges
A charge registered on 23 Mar 2011 via Charge ID 10277984 with Bank Of Baroda was fully satisfied on 28 Apr 2021.
Charges
A charge registered on 16 Feb 2011 via Charge ID 10277983 with Bank Of Baroda was fully satisfied on 28 Apr 2021.
Ceased
Baboobhai Manubhai Nagarsheth ceased to be Managing Director.
25 earlier events are in the company report.
Frequently asked questions
Altop Industries is an active public limited company based in Vadodara, Gujarat, India. The company works in industrial testing and measurement equipment, within the machinery and equipment industry. It was incorporated on 19 January 1993 (33+ years old) and is registered under CIN U91110GJ1993PLC018831.
Altop Industries has 5 current directors:
- Subhash Manubhai Nagarsheth - Whole-Time Director
- Rajesh Kalidas Shah - Director
- Madhukar Ratilal Patel - Director
- Alka Subhashchandra Nagarsheth - Director
- Cyrus Rohinton Panthaki - Director
The latest financial statements of Altop Industries 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 Altop Industries is 24AABCA9387N1Z4, registered in Gujarat.
The CIN (Corporate Identification Number) of Altop Industries is U91110GJ1993PLC018831. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Altop Industries has 5 court cases on record: 5 filed by the company.
Altop Industries was incorporated on 19 January 1993, making it 33+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Altop Industries by revenue are Yantrashilpa Technologies Private Limited, LCS Controls Private Limited, Eureka Design India Private Limited, all in the Machinery and Equipment industry (Testing Equipment), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Cyrus Rohinton Panthaki ceased to be Additional Director on 29 Sep 2025. Cyrus Rohinton Panthaki was appointed as Director on 06 Jun 2025. Alka Subhashchandra Nagarsheth was appointed as Director on 10 Mar 2024. Altop Industries has 15 board changes on record in total.
Yes, Altop Industries is registered as a small enterprise under Udyam registration (number: UDYAM-GJ-24-0005095).
Altop Industries has 11 MSME Form 1 returns on record between 2018 and 2024, listing 114 overdue payments to 12 micro and small suppliers. The latest return was filed on 16 Dec 2023.
Altop Industries can be reached through the website altopindustries.com. Its registered office is in Vadodara, Gujarat, India.
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