Apex Formulations Private Limited

Apex Formulations Private Limited - pharma in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN U24231GJ1998PTC033963 Incorporated 20 April 1998 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Private Limited Company pharma MSME
Data last updated
Revenue · FY 2025
₹29.85 Cr
▲ 25% YoY
Net profit · FY 2025
₹4.37 Cr
Net margin 14.7%
EBITDA · FY 2025
₹6.3 Cr
EBITDA margin 21.1%
Authorised capital
₹20 Lakh
Registered with MCA
Paid-up capital
₹18 Lakh
Issued & subscribed
Open charges
₹69.75 Lakh
Satisfied ₹8.52 Cr
Company age
28 yrs
Est. 1998
Employees · EPFO
4
Provident fund records

About Apex Formulations Private Limited

Data last updated:

Apex Formulations Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 20 April 1998 and has been in existence for over 28 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24231GJ1998PTC033963. Its GSTIN is 24AABCA6476G1ZR (Gujarat).

The company has an authorised share capital of ₹20 Lakh and a paid-up capital of ₹18 Lakh. It was formerly known as Apex Formulation Private Limited. It is led by directors Vipul Vinodrai Shah (Managing Director) and Nishaben Vipulbhai 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 3 – B 3rd Floor Suryarath Building Panchwati First Lane, Ahmedabad, Gujarat, India – 380006.

As per the financials filed for FY 2025, the company reported a revenue of ₹29.85 Cr, a growth of 25% compared to the previous year. For the same year it recorded a net profit of ₹4.37 Cr (net margin 14.7%) and EBITDA of ₹6.3 Cr (EBITDA margin 21.1%). Revenue has grown at a compounded annual rate (CAGR) of 16% over three years and 18% over five years.

The company has about 4 employees on its provident fund (EPFO) records.

As per MCA filings, the company has open charges of ₹69.75 Lakh and satisfied charges of ₹8.52 Cr on record. Court records list 26 cases involving the company, including 3 filed by the company and 23 filed against it; 8 cases are pending.

Apex Formulations Private Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0025880). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website apexformulations.com.

Company details

CIN U24231GJ1998PTC033963
Registration Number 033963
Incorporation Date 20 April 1998
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 MSME
Udyam Registration UDYAM-GJ-01-0025880
Key People
Vipul Vinodrai Shah Managing Director Nishaben Vipulbhai Shah Director

Recognitions & Rankings of Apex Formulations

MSME (Udyam registered) Ministry of MSME
Udyam number
UDYAM-GJ-01-0025880

Contact details

Apex Formulations Private Limited's registered office is in Ahmedabad, Gujarat. Its website is apexformulations.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    apexformulations.com
  • Registered Address
    3 – B 3rd Floor Suryarath Building Panchwati First Lane, Ahmedabad, Gujarat, India – 380006
  • Industry
    Pharma, Drug Formulation & Development

To see the full contact details of Apex Formulations Private Limited, buy the company report.

Comprehensive company report
Apex Formulations 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
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Business activity

The main business activity of Apex Formulations is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC6Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products

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

Financials of Apex Formulations Private Limited

FY 2025 filings available

Apex Formulations Private Limited reported revenue of ₹29.85 Cr (up 25% YoY) for FY 2025.

Revenue · FY 2025
₹29.85 Cr ▲ 25%
Net profit · FY 2025
₹4.37 Cr margin 14.7%
EBITDA · FY 2025
₹6.3 Cr margin 21.1%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 25%
3 years · compounded
▲ 16%
5 years · compounded
▲ 18%
EBITDA CAGR growth
1 year
▲ 6%
3 years · compounded
▲ 50%
5 years · compounded
▲ 48%

Revenue has grown at a compounded annual rate (CAGR) of 18% over five years, including 25% growth in the latest year. EBITDA rose 6% 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₹6.3 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹4.37 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 Margin21.1%
Net Profit Margin14.7%
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 Apex Formulations Private Limited, buy the company report.

Board of directors of Apex Formulations Private Limited

Apex Formulations has 2 directors on record. No former directors are listed.

Current Directors
NameDesignationAppointment DateTenureStatus
Nishaben Vipulbhai ShahDirector20 Apr 199828 Years 6 MonthsCurrent
Vipul Vinodrai ShahManaging Director20 Apr 199828 Years 6 MonthsCurrent
View all directors

Peer comparison

Apex Formulations Private Limited is compared with the 6 companies closest to it by revenue in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Ridley Life Science Private Limited₹29.98 Cr (FY 2024)-28.0%Delhi, India
Impact Healthcare Private Limited₹29.98 Cr (FY 2025)11.0%New Delhi, Delhi, India
Prashanti Formulations Limited₹29.89 Cr (FY 2025)-26.0%Hoshiarpur, Punjab, India
Apex Formulations Private Limitedthis company₹29.85 Cr (FY 2025)₹4.37 Cr14.7%25.0%4Ahmedabad, Gujarat, India
Goa Antibiotics and Pharmaceuticals Limited₹29.84 Cr (FY 2025)26.0%Goa, India
Kedar Janani Chemplast Private Limited₹29.84 Cr (FY 2025)26.0%Mumbai, Maharashtra, India
Psyco Remedies Limited₹29.82 Cr (FY 2025)3.0%Ludhiana, Punjab, India

To see the full peer comparison of Apex Formulations Private Limited, buy the company report.

Auditor

Apex Formulations Private Limited is audited by Kalpesh B. Shah & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Kalpesh B. Shah & Co.FY 2023W117655

Shareholding

The shareholding of Apex Formulations Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2023FY 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Apex Formulations Private Limited, buy the company report.

Charges & borrowings

Open charges
₹69.75 Lakh
Satisfied charges
₹8.52 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹0.70 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
15 Feb 2024100877824Hdfc Bank Limited₹69.75 LakhOpen
25 Apr 2017100103022Hdfc Bank Limited₹1.62 CrSatisfied
16 Apr 201510564699Axis Bank Limited₹10.45 LakhSatisfied
29 Nov 201110322518Hdb Financial Services Limited₹19 LakhSatisfied
04 Apr 200680011101Central Bank of India₹31.4 LakhSatisfied

To see the full charge records of Apex Formulations Private Limited, buy the company report.

Total charge records: 9 View all charges

MSME payment delays

Apex Formulations Private Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 393 overdue payments to 43 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 43)

SupplierAmount dueDue sinceReported on
an individual supplier
Yatharth Lifecare LLP
Prime Pharmachem
Shree Parikh Trading
Talent Healthcare

To see the full MSME payment records of Apex Formulations Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Apex Formulations Private Limited has a workforce of 4 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.

Employee count
4
Active EPFO establishments
1
Employee growth
33.33%

GST

Apex Formulations has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AABCA6476G1ZRGujaratActive01 Jul 2017

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

Recent activity

Apex Formulations Private Limited has 2 board changes on record since 1998: 2 appointments. The latest: Nishaben Vipulbhai Shah was appointed as Director on 20 Apr 1998.

AGM
Apex Formulations Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Apex Formulations Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge registered on 25 Apr 2017 via Charge ID 100103022 with Hdfc Bank Limited was fully satisfied on 14 Mar 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 69.75 Lakh with Charge ID 100877824 was registered on 15 Feb 2024.
Charges
A charge with Hdfc Bank Limited of Rs. 162.13 Lakh registered on 25 Apr 2017 with Charge ID 100103022 was modified on 27 Jul 2022.
Charges
A charge registered on 29 Nov 2011 via Charge ID 10322518 with Hdb Financial Services Limited was fully satisfied on 18 Sep 2020.
Charges
A charge registered on 16 Apr 2015 via Charge ID 10564699 with Axis Bank Limited was fully satisfied on 04 Oct 2018.
Charges
A charge registered on 28 Mar 2006 via Charge ID 80011106 with Central Bank Of India was fully satisfied on 16 May 2017.
Charges
A charge registered on 28 Dec 2004 via Charge ID 80001915 with Central Bank Of India was fully satisfied on 16 May 2017.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 162.13 Lakh with Charge ID 100103022 was registered on 25 Apr 2017.
Charges
A charge registered on 28 Mar 2006 via Charge ID 80011104 with Central Bank Of India was fully satisfied on 26 May 2016.
Charges
A charge registered on 28 Dec 2004 via Charge ID 80001917 with Central Bank Of India was fully satisfied on 26 May 2016.

16 earlier events are in the company report.

Frequently asked questions

Apex Formulations is an active private limited company based in Ahmedabad, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 20 April 1998 (28+ years old) and is registered under CIN U24231GJ1998PTC033963.

Apex Formulations has 2 current directors:

The latest financial statements of Apex Formulations 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 Apex Formulations is 24AABCA6476G1ZR, registered in Gujarat.

The CIN (Corporate Identification Number) of Apex Formulations is U24231GJ1998PTC033963. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Apex Formulations has 26 court cases on record: 3 filed by the company and 23 filed against it. 8 are pending. Most are in the high courts.

Apex Formulations was incorporated on 20 April 1998, making it 28+ years old. It is registered with the Registrar of Companies, Ahmedabad.

The peers of Apex Formulations by revenue are Ridley Life Science Private Limited, Impact Healthcare Private Limited, Prashanti Formulations Limited, Goa Antibiotics and Pharmaceuticals Limited, Kedar Janani Chemplast Private Limited and 1 more, all in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).

Nishaben Vipulbhai Shah was appointed as Director on 20 Apr 1998. Vipul Vinodrai Shah was appointed as Managing Director on 20 Apr 1998.

Yes, Apex Formulations is registered as an MSME under Udyam registration (number: UDYAM-GJ-01-0025880).

Apex Formulations has 13 MSME Form 1 returns on record between 2019 and 2024, listing 393 overdue payments to 43 micro and small suppliers. The latest return was filed on 23 Apr 2024.

Apex Formulations can be reached through the website apexformulations.com. Its registered office is in Ahmedabad, Gujarat, India.