About Associated Power Structures Limited
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Associated Power Structures Limited is a public limited company based in Vadodara, Gujarat, India. It operates in the telecom infrastructure segment of the telecommunications sector. It was incorporated on 21 May 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U29299GJ1996PLC029688. Its GSTIN is 24AABCA6602N1ZS (Gujarat). The company holds 18 GST registrations, of which 11 are active.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹10 Cr. It is led by directors including Satish Desai (Managing Director) and Parag Vinodchandra Kothari (Managing Director).
Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 905/3 G.I.D.C. Industrial Estate Makarpura, Vadodara, Gujarat, India – 390010.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,226.64 Cr, a growth of 95% compared to the previous year. For the same year it recorded a net profit of ₹63.29 Cr (net margin 5.2%) and EBITDA of ₹127.7 Cr (EBITDA margin 10.4%). Revenue has grown at a compounded annual rate (CAGR) of 34% over three years and 15% over five years.
The company has about 493 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹2,298.81 Cr and satisfied charges of ₹406.91 Cr on record. Court records list 27 cases involving the company, including 13 filed by the company and 14 filed against it; 3 cases are pending. The company has 2 deals on record (1 secondary share transfer, 1 acquisition); the latest was in June 2026. The company has 22 MSME Form 1 returns on record between 2019 and 2024, listing 2,941 overdue payments to 98 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website apspvt.com.
Company details
CIN history
Associated Power Structures has one previous CIN (Corporate Identification Number): U29299GJ1996PTC029688. The current CIN is U29299GJ1996PLC029688, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U29299GJ1996PLC029688 | Current |
| U29299GJ1996PTC029688 | Previous |
Contact details
Associated Power Structures Limited's registered office is in Vadodara, Gujarat.
- Social Media
- Registered Address905/3 G.I.D.C. Industrial Estate Makarpura, Vadodara, Gujarat, India – 390010
- IndustryTelecom, Telecom Infrastructure
- 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
Business activity
The main business activity of Associated Power Structures is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Associated Power Structures Limited, buy the company report.
Financials of Associated Power Structures Limited
FY 2024 filings availableAssociated Power Structures Limited reported revenue of ₹1,226.64 Cr (up 95% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 15% over five years, including 95% growth in the latest year. EBITDA rose 144% 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 | ₹127.7 Cr | ||||
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| Net Profit (PAT) | ₹63.29 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 10.4% | ||||
| Net Profit Margin | 5.2% | ||||
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To see the full financial statements and ratios of Associated Power Structures Limited, buy the company report.
Board of directors of Associated Power Structures Limited
Associated Power Structures has 6 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bhadresh Bhupendrabhai Chauhan Also directs: Atlanta Electricals Limited | Director | 15 Jul 2025 | 1 Years 3 Months | Current |
| Deepak Ranjit Asher Also directs: Innovative Carbon Solutions LLP | Director | 15 Jul 2025 | 1 Years 3 Months | Current |
| Satish Desai Also directs: Affinity Spaces LLP, Aps Family Trusteeship Private Limited | Managing Director | 21 May 1996 | 30 Years 5 Months | Current |
| Parag Vinodchandra Kothari Also directs: Affinity Spaces LLP, Aps Family Trusteeship Private Limited | Managing Director | 21 May 1996 | 30 Years 5 Months | Current |
| Ajay Patel Also directs: Aps Family Trusteeship Private Limited | Managing Director | 21 May 1996 | 30 Years 5 Months | Current |
| Sonal Jayantilal Kotak | Director | 15 Jul 2025 | 1 Years 3 Months | Current |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Sep 2025 | 101161251 | Others | ₹5 Cr | Open | |
| 31 Jul 2025 | 101137737 | Others | ₹1.83 Cr | Open | |
| 11 Jun 2025 | 101105666 | Idbi Bank Limited | ₹90 Cr | Open | |
| 02 Jun 2025 | 101102866 | Hdfc Bank Limited | ₹1.3 Cr | Open | |
| 14 May 2025 | 101091233 | Sbicap Trustee Company Limited | ₹80 Cr | Open |
To see the full charge records of Associated Power Structures Limited, buy the company report.
Total charge records: 47 View all charges
Deals & funding
Associated Power Structures Limited has 2 deals on record (1 secondary share transfer, 1 acquisition); the latest was in June 2026.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2026 | Acquisition | ₹1,225 Cr | Buyer: Waaree Renewable Technologies Limited |
| Sep 2024 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Associated Power Structures Limited has 27 court cases on record: 13 filed by Associated Power Structures, 14 filed against it. 3 cases are pending and 24 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 12 | 2 | 1 |
| District courts | 11 | 8 | 1 |
| Supreme Court | 4 | 4 | 1 |
Cases on record (5 of 27)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Allahabad High Court | Writ petition | Filed against the company by M/S U.M. Power Limited | Pending |
| District court, Vadodara, Gujarat | Commercial matter | Filed by the company against Independent Mobile Infrastructure Pvt. Ltd. and 3 others | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Nupower Technologies Ltd | Disposed |
| Supreme Court | Court case (0405-Indirect Taxes Matters : Sales Tax Act (Central & various States)) | Filed against the company by Bharat Sanchar Nigam Ltd | Disposed |
| High Court, GUJARAT | Court case (MCA) | Filed by the company against Bharat Sanchar Nigam Limited and 3 others | Disposed |
To see the full case history of Associated Power Structures 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
Associated Power Structures Limited was last rated by Crisil on 30 Jun 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 30 Jun 2020 |
To see the full credit ratings and regulatory alerts of Associated Power Structures Limited, buy the company report.
MSME payment delays
Associated Power Structures Limited has 22 MSME Form 1 returns on record between 2019 and 2024, listing 2,941 overdue payments to 98 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 98)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Aakash Gases Private Limited | |||
| Raki & Sons | |||
| an individual supplier | |||
| an individual supplier | |||
| Raki & Sons |
To see the full MSME payment records of Associated Power Structures Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Associated Power Structures has 18 GST registrations: 11 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCA6602N1ZS | Gujarat | Active | 01 Jul 2017 |
| 09AABCA6602N1ZK | Uttar Pradesh | Active | 01 Jul 2017 |
| 10AABCA6602N1Z1 | Bihar | Active | 01 Jul 2017 |
| 29AABCA6602N1ZI | Karnataka | Active | 01 Jan 2018 |
To see the full GST registrations and return filing status of Associated Power Structures Limited, buy the company report.
Recent activity
Associated Power Structures Limited has 11 board changes on record since 1996: 6 appointments and 5 cessations. The latest: Ajay Patel ceased to be Director on 27 Aug 2025.
88 earlier events are in the company report.
Frequently asked questions
Associated Power Structures is an active public limited company based in Vadodara, Gujarat, India. The company works in telecom infrastructure, within the telecom industry. It was incorporated on 21 May 1996 (30+ years old) and is registered under CIN U29299GJ1996PLC029688.
Associated Power Structures has 6 current directors:
- Satish Desai - Managing Director
- Parag Vinodchandra Kothari - Managing Director
- Ajay Patel - Managing Director
- Bhadresh Bhupendrabhai Chauhan - Director
- Deepak Ranjit Asher - Director
- Sonal Jayantilal Kotak - Director
The latest financial statements of Associated Power Structures on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 24 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Associated Power Structures is 24AABCA6602N1ZS, registered in Gujarat. The company has 18 GST registrations in all, of which 11 are active and 7 are cancelled or inactive. Other active GSTINs include 09AABCA6602N1ZK (Uttar Pradesh), 10AABCA6602N1Z1 (Bihar), 29AABCA6602N1ZI (Karnataka).
The CIN (Corporate Identification Number) of Associated Power Structures is U29299GJ1996PLC029688. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Associated Power Structures has 27 court cases on record: 13 filed by the company and 14 filed against it. 3 are pending. Most are in the high courts.
Associated Power Structures was incorporated on 21 May 1996, making it 30+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Associated Power Structures has 2 deals on record (1 secondary share transfer, 1 acquisition); the latest was in June 2026.
Ajay Patel ceased to be Director on 27 Aug 2025. Parag Vinodchandra Kothari ceased to be Director on 27 Aug 2025. Satish Desai ceased to be Director on 27 Aug 2025. Associated Power Structures has 11 board changes on record in total.
Associated Power Structures has 22 MSME Form 1 returns on record between 2019 and 2024, listing 2,941 overdue payments to 98 micro and small suppliers. The latest return was filed on 20 May 2024.
Associated Power Structures can be reached through the website apspvt.com. Its registered office is in Vadodara, Gujarat, India.