About Avon Cycles Ltd
Data last updated:
Avon Cycles Ltd is a public limited company based in Punjab, India. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 01 October 1951 and has been in existence for over 75 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U35921PB1951PLC001699. Its GSTIN is 03AABCA4140R1ZR (Punjab). The company holds 17 GST registrations, of which 11 are active.
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹87.05 Lakh. It is led by directors including Rishi Pahwa (Managing Director) and Onkar Singh Pahwa (Managing Director).
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 G T Roaddhandari Kalan Ludhiana, Punjab, India – 141003.
As per the financials filed for FY 2025, the company reported a revenue of ₹976.6 Cr, a decline of 18% compared to the previous year. For the same year it recorded a net profit of ₹44.08 Cr (net margin 4.5%) and EBITDA of ₹79.12 Cr (EBITDA margin 8.1%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years and 4% over five years.
The company has about 1,467 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 2 brands: Avon E-world and Avon Cycles. As per MCA filings, the company has open charges of ₹274.7 Cr and satisfied charges of ₹551.98 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website avoncycles.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressG T Roaddhandari Kalan Ludhiana, Punjab, India – 141003
- IndustryEnvironment, Wind Energy Solutions, Solar Energy Solutions
- 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
CIN History of Avon Cycles Ltd
Avon Cycles has one previous CIN (Corporate Identification Number): L35921PB1951PLC001699. The current CIN is U35921PB1951PLC001699, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U35921PB1951PLC001699 | Current |
| L35921PB1951PLC001699 | Previous |
Associated Brands with Avon Cycles Ltd
Avon Cycles operates two associated brands: Avon E-world and Avon Cycles. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers electric vehicles like scooters and rickshaws for eco-friendly urban transport. | eworldofavon.com | |
| Bicycle manufacturing, sales, and related services in India. | avoncycles.com |
Competitors & Alternatives of Avon Cycles Ltd
Brands and companies operating in the same space as Avon Cycles Ltd include Fisker, Tesla, Greaves Electric Mobility and 4 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
 Fisker | Electric vehicles are manufactured and leased by Fisker Inc. | Los Angeles, United States | 2007 |
 Tesla | Electric vehicles and solar energy products are manufactured. | Austin, United States | 2003 |
 Greaves Electric Mobility | Manufacturer of electric two and three-wheelers for personal and commercial use | Bengaluru, India | 2008 |
 PURE EV | Lithium-based energy storage products and electric vehicles are manufactured. | Hyderabad, India | 2015 |
 Motovolt | Electric bicycles with advanced features are developed by Motovolt. | Kolkata, India | 2019 |
 BAIC New Energy | Electric vehicles are developed and engineered in Beijing, China. | Beijing, China | 2009 |
 BNC Motors | Electric two-wheelers with removable batteries and hub motors are manufactured. | Coimbatore, India | 2020 |
Business Activity of Avon Cycles Ltd
The main business activity of Avon Cycles is manufacturing. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles | 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.
Auditor Details of Avon Cycles Ltd
Avon Cycles Ltd is audited by Amanpreet & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Amanpreet & 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.
Board of Directors of Avon Cycles Ltd
Avon Cycles has 7 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rishi Pahwa Also directs: Avon Fitness Machines Private Limited, Avon Newage Cycles Private Limited, Avon Energies and Investments Private Limited and 1 more | Managing Director | 01 Jun 2003 | 23 Years 4 Months | Current |
| Bhupinder Singh Dhiman | Director | 23 Aug 2022 | 4 Years 1 Months | Current |
| Gurpreet Kaur Also directs: Ceigall India Limited, Madhur Knit Crafts Limited, Ceigall Jalbehra Shahbad Greenfield Highway Private Limited and 2 more | Director | 04 Feb 2023 | 3 Years 8 Months | Current |
| Anil Arora | Director | 20 Nov 2017 | 8 Years 10 Months | Current |
| Bhavdeep Sardana Also directs: Capital Small Finance Bank Limited, Scott Industries Limited, Sukhjit Mega Food Park & Infra Limited and 1 more | Director | 30 Nov 2021 | 4 Years 10 Months | Current |
| Onkar Singh Pahwa Also directs: Avon Fitness Machines Private Limited, Avon Newage Cycles Private Limited, Avon Energies and Investments Private Limited and 3 more | Managing Director | 11 Apr 1983 | 43 Years 5 Months | Current |
Financials of Avon Cycles Ltd FY 2025 filings available
Avon Cycles Ltd reported revenue of ₹976.6 Cr (down 18% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Avon Cycles Ltd
Revenue fell 18% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 4%. EBITDA fell 35% 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 Avon Cycles Ltd
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
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| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹79.12 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹44.08 Cr | •••• | •••• | •••• | •••• |
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Financial Ratios of Avon Cycles Ltd
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 4.5% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
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| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
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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 Avon Cycles are in the company report.
Financial statements from 2015
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.
Ownership and Shareholding of Avon Cycles Ltd
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.
Group Structure of Avon Cycles Ltd
Avon Cycles has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Avon Newage Cycles Private Limited | U35999PB2020PTC051894 | Locked |
Showing major subsidiaries. Total: 1.
Charges & Borrowings of Avon Cycles Ltd
| Date | Lender | Amount | Status |
|---|---|---|---|
| 19 Jan 2019 | Others | ₹50 Cr | Open |
| 19 Jan 2019 | Others | ₹10 Cr | Open |
| 29 Jul 2015 | Others | ₹50 Cr | Open |
| 07 Oct 2011 | Axis Bank Limited | ₹20 Cr | Open |
| 03 Dec 2003 | State Bank of India | ₹10 Cr | Open |
Total charge records: 69 View all charges
Employees and EPFO Compliance at Avon Cycles Ltd
Avon Cycles Ltd has a workforce of 1,467 employees as of Apr 04, 2024.
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.
GST Compliance of Avon Cycles Ltd
Avon Cycles has 17 GST registrations: 11 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AABCA4140R1ZR | Punjab | Active | 01 Jul 2017 |
| 10AABCA4140R1ZW | Bihar | Active | 01 Jul 2017 |
| 19AABCA4140R1ZE | West Bengal | Active | 01 Jul 2017 |
| 23AABCA4140R1ZP | Madhya Pradesh | Active | 01 Jul 2017 |
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.
Credit Ratings, Litigation & Regulatory Alerts for Avon Cycles Ltd
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 Avon Cycles Ltd
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 Avon Cycles Ltd
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.
MCA Filings & Documents of Avon Cycles Ltd
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.
Recent Activity on Avon Cycles Ltd
Frequently Asked Questions about Avon Cycles Ltd
Avon Cycles is an active public limited company based in Punjab, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 01 October 1951 (75+ years old) and is registered under CIN U35921PB1951PLC001699.
Avon Cycles reported revenue of ₹976.6 Cr for FY 2025 (down 18% YoY).
Avon Cycles has 7 current directors:
- Rishi Pahwa - Managing Director
- Onkar Singh Pahwa - Managing Director
- Mandeep Singh Pahwa - Managing Director
- Bhupinder Singh Dhiman - Director
- Gurpreet Kaur - Director
- Anil Arora - Director
- Bhavdeep Sardana - Director
Avon Cycles reported a net profit of ₹44.08 Cr (net margin 4.5%) and EBITDA of ₹79.12 Cr (EBITDA margin 8.1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Avon Cycles is 4% over three years and 4% over five years. In the latest year (FY 2025) revenue fell 18%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Avon Cycles is 03AABCA4140R1ZR, registered in Punjab. The company has 17 GST registrations in all, of which 11 are active and 6 are cancelled or inactive. Other active GSTINs include 10AABCA4140R1ZW (Bihar), 19AABCA4140R1ZE (West Bengal), 23AABCA4140R1ZP (Madhya Pradesh).
The CIN (Corporate Identification Number) of Avon Cycles is U35921PB1951PLC001699. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avon Cycles was incorporated on 01 October 1951, making it 75+ years old. It is registered with the Registrar of Companies, Chandigarh.
Avon Cycles can be reached through the website avoncycles.com. Its registered office is in Punjab, India.